Abstract Aerial Art/DigitalVision via Getty Images Harbour Energy ( PMOIF )( HBRIY ) made a big acquisition covered in the last article that closed in February. One thing about investment grade ideas is that these companies tend to get unusually lucky when it comes to making a leveraged deal. In this case, more than two billion dollars of debt was part of the deal. But the Iranian situation is mak...
Abstract Aerial Art/DigitalVision via Getty Images Harbour Energy ( PMOIF )( HBRIY ) made a big acquisition covered in the last article that closed in February. One thing about investment grade ideas is that these companies tend to get unusually lucky when it comes to making a leveraged deal. In this case, more than two billion dollars of debt was part of the deal. But the Iranian situation is making this additional leverage look like a brilliant move. The company is now in an excellent position (despite hedging) to use the extra cash flow resulting from high commodity prices to repay the debt that resulted from the acquisition. It should also be noted that many acquisitions have a significant amount of one-time (and optimization) costs. This company may well have extra downside protection when the time comes for commodity prices to retreat thanks to that extra debt (that is likely to get repaid at least somewhat early). It also mitigates that the company was disclosing a negative outlook from most of the rating firms due to the additional debt obtained through the acquisition. This is one of the very few times that the additional debt taken on to complete the merger happens to be a big plus. As a result, that negative outlook is likely to get quickly removed as part of the debt rating. Rising commodity prices often have an outsized effect on earnings because the extra money obtained from rising commodity prices often heads to the bottom line with few deductions. The costs were already paid for (so to speak) when commodity prices were lower. So, there are not all that many additional costs when commodity prices rise. There is some reduction in exposure due to the hedging. But I have yet to see a company that hedges more than 80% of its production. That does leave some exposure to commodity price fluctuations no matter the hedging program. Acquisitions The company has one additional smaller acquisition to complete that will liberate a fair amount of tax losses that t...
One of the great Bollywood singers whose thousands of songs ranged from ghazals to dance tunes and pop Asha Bhosle, who has died aged 92, was the best-known singer in India , an extraordinary artist whose career spanned over eight decades, during which she recorded about 12,000 songs. She first became famous as a playback singer – recording songs that would then be lip-synced by actors in Bollywoo...
One of the great Bollywood singers whose thousands of songs ranged from ghazals to dance tunes and pop Asha Bhosle, who has died aged 92, was the best-known singer in India , an extraordinary artist whose career spanned over eight decades, during which she recorded about 12,000 songs. She first became famous as a playback singer – recording songs that would then be lip-synced by actors in Bollywood movies. Though she was not on screen, her voice made her even more celebrated than those pretending to sing her songs. She also recorded extensively under her own name, and after establishing her reputation in Asia became known to western audiences first through Brimful of Asha, the 1997 tribute song by Cornershop, and then through her collaborations with musicians as varied as Boy George, Kronos Quartet and, most recently, Gorillaz. Continue reading...
Galeanu Mihai/iStock via Getty Images The Dollar Index ( DXY ) did not snap its losing streak yesterday but extended it for its eighth consecutive session to match the longest downdraft since April 2011. The streak may end today if the dollar’s gains are sustained. Despite stronger-than-expected UK (and China) GDP figures and a solid Australian jobs report, the greenback is trading firmer against ...
Galeanu Mihai/iStock via Getty Images The Dollar Index ( DXY ) did not snap its losing streak yesterday but extended it for its eighth consecutive session to match the longest downdraft since April 2011. The streak may end today if the dollar’s gains are sustained. Despite stronger-than-expected UK (and China) GDP figures and a solid Australian jobs report, the greenback is trading firmer against most of the G10 and emerging market currencies. Risk appetites seem intact, with the Nikkei following the US S&P 500 and Nasdaq to record highs. A possible two-week extension in the US-Iran ceasefire may have helped sentiment. However, with the blockade of Iranian ports in place, some projections show storage capacity would be exhausted in two weeks. The two-week extension would add pressure on Tehran. Meanwhile, President Trump indicated that the investigation into the Federal Reserve will continue, and he accepted that this could delay the confirmation of Kevin Warsh to succeed Powell. What happens if the confirmation is not complete by the time Powell’s term as chair is over is not immediately clear, but the president’s threat to fire Powell has been noted but apparently ignore. Prices G10 • The euro did not trade below $1.1770 yesterday and spent much of the North American afternoon straddling the $1.1800 area. It reached almost $1.1825, which corresponds to the (61.8%) retracement target of the euro’s decline since the last January high (~$1.2080). It was greeted by sellers, who pushed it back to almost $1.1770. Initial support is near yesterday’s low and then $1.1755. • The dollar held above Monday’s low (~JPY158.60) against the yen yesterday but stalled in front of the 20-day moving average that was found slightly below JPY159.20. It was sold to a six-day low near JPY158.25 initially, seemingly encouraged by implied threat by Japan’s Finance Minister Katayama, who, after meeting with US Treasury Secretary Bessent, said officials were prepared to take “bold action” to...
(RTTNews) - NetApp Inc. (NTAP) on Thursday said it has expanded its partnership with Google Cloud through a four-year enterprise agreement to accelerate deployment of its storage solutions within Google Distributed Cloud's air-gapped environments.
(RTTNews) - NetApp Inc. (NTAP) on Thursday said it has expanded its partnership with Google Cloud through a four-year enterprise agreement to accelerate deployment of its storage solutions within Google Distributed Cloud's air-gapped environments.
buradaki/iStock via Getty Images Investment Thesis Following my last coverage , AST SpaceMobile ( ASTS ) is up 10%, and the move feels like the market is starting to align with my thesis, not fully, but directionally. I don’t see this as a peak; if anything, it reinforces my conviction. The key drivers behind my investment thesis, including backlog visibility, strong liquidity, and a well-defined ...
buradaki/iStock via Getty Images Investment Thesis Following my last coverage , AST SpaceMobile ( ASTS ) is up 10%, and the move feels like the market is starting to align with my thesis, not fully, but directionally. I don’t see this as a peak; if anything, it reinforces my conviction. The key drivers behind my investment thesis, including backlog visibility, strong liquidity, and a well-defined revenue ramp-up, not only have proven to be accurate but are now closer to materializing. Liquidity and Backlog Secure Path to $1 Billion Topline by FY27 In my view, AST SpaceMobile holds a contracted revenue pipeline with a completely funded balance sheet. This is forming a primary catalyst for forward financials. AST SpaceMobile shifted into a top-line-generating entity in FY25, recording $70.9 million in top line. AST SpaceMobile’s management projects $150 million~$200 million for FY26 and scaling toward $1 billion by FY27. This top-line expansion is based on a $1.2 billion contracted backlog. Further, AST SpaceMobile secures cash inflows before network activation, as evidenced by a $175 million prepayment from stc Group. The company integrates infrastructure manufacturing with direct-to-device cellular broadband delivery. Thus, the proposed vertically integrated manufacturing approach aims to manufacture six satellites every month in H1-FY26. The approximate unit cost of Block 2 BlueBird satellites is between $21 million and $23 million. Here, controlling 95% of manufacturing internally limits external supply chain delays. I believe that delivering multiple payload requirements on a single satellite platform captures dual-use applications across commercial and government markets. Here, Space Development Agency awards and the Golden Dome project contracts may continue to boost the base commercial top line. Q4 Earnings Further, the gross margin structure is important in the creation of cash flow. The gross margin structure for AST SpaceMobile is estimated to be about 90% ...
(RTTNews) - Slightly higher TSX futures and commodity prices point to a marginally positive start for Canadian stocks on Thursday. Expectations of U.S. and Iran agreeing on a peace deal this week may also support the market.
(RTTNews) - Slightly higher TSX futures and commodity prices point to a marginally positive start for Canadian stocks on Thursday. Expectations of U.S. and Iran agreeing on a peace deal this week may also support the market.
(RTTNews) - Prime Medicine, Inc. (PRME), a developer of a new class of differentiated one-time curative genetic therapies, said on Thursday that it has appointed Svetlana Makhni as Chief Financial Officer.
(RTTNews) - Prime Medicine, Inc. (PRME), a developer of a new class of differentiated one-time curative genetic therapies, said on Thursday that it has appointed Svetlana Makhni as Chief Financial Officer.
Citizens Financial Group ( CFG ) declares $0.46/share quarterly dividend , in line with previous. Forward yield 2.82% Payable May 14; for shareholders of record April 30; ex-div April 30. See CFG Dividend Scorecard, Yield Chart, & Dividend Growth. More on Citizens Financial Group Citizens Financial Group: Q1 Results Should Validate Recent Strength Citizens Financial Group, Inc. (CFG) Presents at R...
Citizens Financial Group ( CFG ) declares $0.46/share quarterly dividend , in line with previous. Forward yield 2.82% Payable May 14; for shareholders of record April 30; ex-div April 30. See CFG Dividend Scorecard, Yield Chart, & Dividend Growth. More on Citizens Financial Group Citizens Financial Group: Q1 Results Should Validate Recent Strength Citizens Financial Group, Inc. (CFG) Presents at RBC Capital Markets Global Financial Institutions Conference 2026 Transcript Citizens Financial Group, Inc. (CFG) Presents at UBS Financial Services Conference 2026 Transcript Citizens Financial Group GAAP EPS of $1.13 beats by $0.04, revenue of $2.17B beats by $10M Citizens Financial Group Q1 2026 Earnings Preview
Wipro Hydraulics, a part of Wipro ( WIT ), has signed a definitive agreement to acquire Italy-based Indeco Ind Spa, the companies said on Thursday, marking the Indian firm’s entry into the hydraulic attachments segment. The deal brings together Indeco, known for hydraulic attachments, and Wipro Hydraulics, a manufacturer of hydraulic cylinders, as both companies mark 50 years in operation. Wipro s...
Wipro Hydraulics, a part of Wipro ( WIT ), has signed a definitive agreement to acquire Italy-based Indeco Ind Spa, the companies said on Thursday, marking the Indian firm’s entry into the hydraulic attachments segment. The deal brings together Indeco, known for hydraulic attachments, and Wipro Hydraulics, a manufacturer of hydraulic cylinders, as both companies mark 50 years in operation. Wipro said the acquisition would broaden its product portfolio and expand its manufacturing, distribution, and research capabilities, while enhancing its ability to serve customers globally. Indeco’s existing leadership, including CEO Susanna Vitulano, will remain involved in operations, with the Vitulano family continuing its engagement in the business. WIT -1.32% premarket to $2.24. Source: Press Release More on Wipro Wipro Has More Growth Challenges As Transition To GenAI Platform Continues Wipro reports mixed Q4 results Wipro GAAP EPS of $0.04 in-line, revenue of $2.58B misses by $70M
Most investors have probably heard of Illinois Tool Works (NYSE: ITW) . But most of those same investors would also likely struggle to name a single product it manufactures (other than "tools"). That's because it doesn't really specialize in anything. Rather, it makes a little of almost everything, ranging from automotive air bags to restaurant refrigerators to welding equipment to plastic bags to...
Most investors have probably heard of Illinois Tool Works (NYSE: ITW) . But most of those same investors would also likely struggle to name a single product it manufactures (other than "tools"). That's because it doesn't really specialize in anything. Rather, it makes a little of almost everything, ranging from automotive air bags to restaurant refrigerators to welding equipment to plastic bags to construction fasteners, and more. In an environment where specialization is the norm, ITW has taken a different tack. The thing is, it works. While it's never been a high-growth company, with the exception of the period when the COVID-19 pandemic stifled the domestic and global economies, Illinois Tool Works has been a reasonably reliable revenue grower. Image source: Getty Images. Continue reading
Retail giant Express was publicly spilling customer information to the open web. The bug is now fixed after TechCrunch alerted Express, but the company would not say if it plans to notify customers.
Retail giant Express was publicly spilling customer information to the open web. The bug is now fixed after TechCrunch alerted Express, but the company would not say if it plans to notify customers.
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing an unexpected surge by its reading on regional manufacturing activity in the month of April.
(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing an unexpected surge by its reading on regional manufacturing activity in the month of April.