International Flavors & Fragrances ( IFF ) agreed to sell its Food Ingredients business to funds advised by CVC Capital Partners in a deal valuing the unit at about $4.3B. The divested unit is a major supplier of texturants, emulsifiers, plant-based solutions, and specialty food ingredients. IFF will retain ~10% minority equity stake worth around $200M in the divested business. IFF will also retai...
International Flavors & Fragrances ( IFF ) agreed to sell its Food Ingredients business to funds advised by CVC Capital Partners in a deal valuing the unit at about $4.3B. The divested unit is a major supplier of texturants, emulsifiers, plant-based solutions, and specialty food ingredients. IFF will retain ~10% minority equity stake worth around $200M in the divested business. IFF will also retain a board seat in the new company through its minority ownership stake. The Food Ingredients business generated nearly $3.1B in annual sales and ~$430M in EBITDA in 2025. The transaction values the business at roughly 10x enterprise value-to-EBITDA. The company said the transaction will likely be dilutive to adjusted EPS during the first 12 months after closing. The sale is part of IFF’s portfolio transformation strategy to focus on its core Taste, Scent, and Health & Biosciences segments. IFF expects the transaction to improve cash flow, financial flexibility, and long-term profitability. Including this deal, IFF has divested 13 non-core businesses over recent years, generating nearly $10B in gross proceeds. IFF plans to use about $3.8B in expected net cash proceeds mainly for debt reduction, share repurchases, and reinvestment in core growth areas. IFF reiterated its 2026 guidance, expecting sales of $10.5B–$10.8B and adjusted EBITDA of $2.05B–$2.15B. CVC said the acquisition offers growth potential driven by rising global food consumption and demand for clean-label products. The transaction is expected to close by the end of Q2 2027, subject to regulatory approvals and customary conditions. IFF shares up 3.8% premarket. More on International Flavors & Fragrances International Flavors & Fragrances Inc. (IFF) Q1 2026 Earnings Call Transcript International Flavors & Fragrances Inc. 2026 Q1 - Results - Earnings Call Presentation International Flavors & Fragrances sells most of its food ingredients business IFF reaffirms 2026 outlook of $10.5B-$10.8B sales and $2.05B-$2.15B a...
Baron Financials ETF fell 15.97% in Q1 2026, underperforming the MSCI USA Financials Index’s 9.89% decline while outperforming the FactSet Global FinTech Index, which dropped 20.15%. The fund initiated a position in Bank of America (NYSE: BAC ) during Q1 2026. In Q1 2026, the fund fully exited Clearwater Analytics Holdings (NYSE: CWAN ) and Ategrity Specialty Insurance Company Holdings (NYSE: ASIC...
Baron Financials ETF fell 15.97% in Q1 2026, underperforming the MSCI USA Financials Index’s 9.89% decline while outperforming the FactSet Global FinTech Index, which dropped 20.15%. The fund initiated a position in Bank of America (NYSE: BAC ) during Q1 2026. In Q1 2026, the fund fully exited Clearwater Analytics Holdings (NYSE: CWAN ) and Ategrity Specialty Insurance Company Holdings (NYSE: ASIC ). Baron Financials ETF said it remains optimistic on its outlook, citing oversold portfolio holdings, resilient economic conditions, and long-term benefits from AI-driven efficiency gains in financial services. Source. More on Baron Financials ETF Baron Financials ETF Q1 2026 Shareholder Letter
Thomas Barwick International Flavors & Fragrances ( IFF ) gained in early trading on Friday after the company announced that it entered into an agreement to sell its food ingredients business to funds advised by CVC Capital Partners in a transaction that values the business at approximately $4.3B. The deal price was noted to represent an enterprise value-to-EBITDA multiple of approximately 10X. As...
Thomas Barwick International Flavors & Fragrances ( IFF ) gained in early trading on Friday after the company announced that it entered into an agreement to sell its food ingredients business to funds advised by CVC Capital Partners in a transaction that values the business at approximately $4.3B. The deal price was noted to represent an enterprise value-to-EBITDA multiple of approximately 10X. As part of the transaction, the company has chosen to retain an approximately 10% minority equity interest in the business, or approximately $200M, permitting continued collaboration and cooperation between IFF ( IFF ) and Food Ingredients and allowing IFF ( IFF ) and its shareholders to participate in future value creation under its new ownership. IFF ( IFF ) expects to receive net cash proceeds of approximately $3.8B at closing, reflecting the rolled-over equity, customary purchase price adjustments, costs incurred to stand up and carve out the business, and taxes. Upon completion of the food ingredients transaction, IFF ( IFF ) will be centered on three market-leading businesses serving attractive end markets supported by long-term megatrends in health, well-being, food, and sustainability. Each business is well positioned for strong revenue and EBITDA growth opportunities and powered by shared naturals and bioscience capabilities. "This transaction represents an important strategic milestone in our ongoing portfolio optimization initiative, allowing us to further concentrate resources on our higher-growth, higher-margin segments," stated IFF CEO Erik Fyrwald. "By simplifying our portfolio to where we can create the greatest value, IFF will accelerate innovation, drive investment in R&D, and further integrate our biotechnology and naturals capabilities more effectively across our global platform," he added. The company intends to prioritize use of proceeds from the deal toward debt reduction, targeted share repurchases, and high-return opportunities across the core portfol...
S&P 500 Index futures rise 0.1% as of 7:31 a.m. in New York as traders wait to see whether the US and Iran can finally get a peace deal across the line. Nasdaq 100 futures are up 0.1% Dow Jones Industrial Average futures gain 0.2% The MSCI World Index is up 0.2% Here are some of the biggest US movers before the bell: Magnificent Seven stocks: Microsoft (MSFT) +0.8%, Nvidia (NVDA) +0.5%, Tesla (TSL...
S&P 500 Index futures rise 0.1% as of 7:31 a.m. in New York as traders wait to see whether the US and Iran can finally get a peace deal across the line. Nasdaq 100 futures are up 0.1% Dow Jones Industrial Average futures gain 0.2% The MSCI World Index is up 0.2% Here are some of the biggest US movers before the bell: Magnificent Seven stocks: Microsoft (MSFT) +0.8%, Nvidia (NVDA) +0.5%, Tesla (TSLA) -0.4%, Apple (AAPL) -0.5%, Meta Platforms (META) -0.5%, Amazon (AMZN) -0.7%, Alphabet (GOOGL) -0.8% American Eagle shares (AEO) tumbled 11% after the clothing retailer reported total comparable sales for the first quarter that missed the average analyst estimate. Autodesk’s (ADSK) falls 7% after its proposed acquisition of MaintainX has been tentatively welcomed by analysts, who see the deal as expensive but representing a strong strategic move. Dell Technologies shares (DELL) surge 35% after the Texas-based company raised both its full year revenue and adjusted EPS outlooks on strong demand for its AI-powering servers. Elastic (ESTC) is down 5.4% after the software company gave an outlook for adjusted first-quarter earnings that was weaker than expected. Gap (GAP) shares fell 15% after the clothing retailer reported its latest earnings with poor performance by the company’s Old Navy brand that weighed on the full-year outlook in an otherwise mixed report. Krispy Kreme (DNUT) is up 5% after the doughnut chain’s Director Bernardo Hees acquired $768,718 of stock, according to a filing with the US Securities and Exchange Commission. NetApp (NTAP) rallies 19% after the data storage provider reported its latest earnings with a strong print from the company, showing strong growth. Nextpower Inc. shares (NXT) rise 11% after it agreed to buy Prevalon Energy, a joint venture between Mitsubishi Power Americas and EES, for up to $365 million in cash and stock. PagerDuty shares (PD) are up 13% after the software company reported first-quarter results that beat expectations and raise...
California-based Applied Materials, Inc. (AMAT) is the world's largest supplier of semiconductor manufacturing equipment and one of the most important companies in the global semiconductor supply chain. Valued at $357 billion by market cap, Applied Materials provides the tools, software, and services that chipmakers use to manufacture advanced semiconductors, display panels, and other electronic c...
California-based Applied Materials, Inc. (AMAT) is the world's largest supplier of semiconductor manufacturing equipment and one of the most important companies in the global semiconductor supply chain. Valued at $357 billion by market cap, Applied Materials provides the tools, software, and services that chipmakers use to manufacture advanced semiconductors, display panels, and other electronic components. Companies worth $200 billion or more are generally described as “mega-cap stocks,” and AMAT definitely fits that description, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the semiconductor equipment & materials industry. The company is a market leader in key chipmaking processes such as deposition, etching, inspection, and advanced packaging, enabling customers to produce increasingly powerful and complex semiconductors. Its extensive technology portfolio, deep relationships with leading chipmakers, large installed equipment base, and strong research and development capabilities create significant competitive advantages. AMAT shares recently touched their 52-week high of $462.40 on May 27. Over the past three months, AMAT stock has gained 20.8%, outpacing the broader Nasdaq Composite’s ($NASX) 18.8% rise over the same time frame. Shares of AMAT rose 75% on a YTD basis and climbed 178.3% over the past 52 weeks, notably outperforming NASX’s 15.8% YTD gains and 40.9% returns over the last year. To confirm the bullish trend, AMAT has been trading above its 50-day and 200-day moving averages since mid-September, 2025, with slight fluctuations. Shares of Applied Materials rose 4.9% on May 20 after the company announced a partnership with Broadcom Inc. (AVGO) to accelerate the development of advanced chip-packaging technologies for next-generation AI systems. The collaboration reinforced investor confidence in Applied Materials' ability to capitalize on growing AI-driven semiconductor demand. The stock also b...
NEW DELHI, May 29 (Reuters) - An Indian court ruling that Google infringed the trademark rights of a bathroom fittings maker by allowing rivals to use its name as an advertising keyword could reshape the online ads market, Indian businesses said on Friday. The court ordered Google to pay damages of $31,600 in a ruling issued on May 22 by the Delhi High Court, which businesses have since been re...
NEW DELHI, May 29 (Reuters) - An Indian court ruling that Google infringed the trademark rights of a bathroom fittings maker by allowing rivals to use its name as an advertising keyword could reshape the online ads market, Indian businesses said on Friday. The court ordered Google to pay damages of $31,600 in a ruling issued on May 22 by the Delhi High Court, which businesses have since been responding to. • Delhi High Court says Google allowed rival companies of India's Hindware to use "Hindware" as a keyword to target their own advertising. • The court said "the manner in which Google operates its AdWords Policy makes it clear that Google sells or auctions the use of the trademark ... without any authorisation from the proprietor of the trademark." • Lawyers, Indian businesses and brand managers on Friday took to social media to support the ruling which they said will have major implications. • Nithin Kamath, founder of Indian brokerage firm Zerodha, said his brand had suffered from similar issues for years, and the ruling "now opens up a route for legal recourse." • "You create the brand. Someone else bids on it. Google takes the fee ... (this ruling) could change the economics of online advertising for millions of businesses," said Anupam Mittal, founder of Indian matchmaking company, Shaadi.com. • Google did not respond to a request for comment. The company counts India as one of its most critical markets. (Reporting by Aditya Kalra;Editing by Elaine Hardcastle)
Rambus (NASDAQ:RMBS) has become one of the more interesting names in the AI infrastructure supply chain, and it remains under the radar for most investors. This is the memory bandwidth IP company sitting underneath the entire AI buildout, yet awareness outside semiconductor circles is limited. That gap between fundamentals and recognition is what makes the ... Every AI Chip on Earth Needs This Com...
Rambus (NASDAQ:RMBS) has become one of the more interesting names in the AI infrastructure supply chain, and it remains under the radar for most investors. This is the memory bandwidth IP company sitting underneath the entire AI buildout, yet awareness outside semiconductor circles is limited. That gap between fundamentals and recognition is what makes the ... Every AI Chip on Earth Needs This Company’s Technology. It Has an 80% Gross Margin. And You’ve Probably Never Heard of It
US To Power Base With Nuclear Aircraft Carrier As Navy Mulls New Floating Reactor Program Later this summer, the nuclear-powered USS Gerald R. Ford will export electricity from its two A1B reactors directly to Naval Station Norfolk, powering the largest naval base in the world from a $13 billion supercarrier sitting at the pier. Acting Secretary of the Navy Hung Cao provided the news during a May ...
US To Power Base With Nuclear Aircraft Carrier As Navy Mulls New Floating Reactor Program Later this summer, the nuclear-powered USS Gerald R. Ford will export electricity from its two A1B reactors directly to Naval Station Norfolk, powering the largest naval base in the world from a $13 billion supercarrier sitting at the pier. Acting Secretary of the Navy Hung Cao provided the news during a May 14 House Armed Services Committee hearing on the FY2027 budget. “This summer, Naval Station Norfolk in Virginia is going to be powered from an aircraft carrier ,” he said plainly. “We’re going to export the energy from the aircraft carrier to the base.” A Navy spokesperson later confirmed the initial test will happen later this year as part of a broader push for “ firm, baseload power ” and mission assurance at installations. The Ford just returned to Norfolk after a record 326-day deployment . Its A1B reactors built by Bechtel and BWXT deliver roughly 25% more energy and operational availability than the older A4W plants on Nimitz-class carriers, with fewer sailors needed to run them. The test will show whether a docked supercarrier can serve as a floating backup generator during grid outages, attacks, or disasters. The idea is also being pitched that the power could also be utilized in drought-stricken areas for potable water production. But this isn’t the world’s first floating nuclear power play. The concept dates back to the 70s when a Westinghouse-Tenneco joint venture proposed mass-producing 1,200 MW plants on massive concrete barges off the U.S. East Coast. The idea died in regulatory and political quicksand , but only in the US. Russia actually built and operates one. The Akademik Lomonosov, with two KLT-40S reactors delivering about 70 MWe plus district heat, has been supplying the remote Arctic town of Pevek in Chukotka since 2019. It replaced the aging Bilibino nuclear plant and a coal facility. Rosatom has pushed follow-on designs using RITM-200M reactors for m...
Once in a great while, the best-looking numbers are the ones investors should worry about the most. On that note, Ethereum (ETH +0.98%) just posted its busiest quarter in history, processing more than 200 million transactions in Q1 2026, a 43% jump from the prior quarter. Meanwhile, after years of effort spent scaling up its throughput capacity, the chain's gas (user) fees are 98% lower than three...
Once in a great while, the best-looking numbers are the ones investors should worry about the most. On that note, Ethereum (ETH +0.98%) just posted its busiest quarter in history, processing more than 200 million transactions in Q1 2026, a 43% jump from the prior quarter. Meanwhile, after years of effort spent scaling up its throughput capacity, the chain's gas (user) fees are 98% lower than three years ago, with transactions costing about $0.11. A chain reporting record activity and rock-bottom fees at the same time looks like getting two bullish votes of confidence for investing. But together, the truth is that they sketch a troubling picture, and Ethereum's price has fallen almost 60% from its August 2025 peak even as the usage of its chain keeps climbing. Let's investigate what's happening here and determine whether it's a sell signal or just a yellow (or red) flag. Good numbers tell a bad story here The unifying problem underpinning these two bullish figures is that Ethereum got much better at processing transactions, but the reward for holders has been zero. In August 2021, a fee-burning mechanism began destroying a portion of every gas fee paid on the network. A year later, the September 2022 transition to proof-of-stake (PoS) slashed new coin issuance by roughly 90%. Together, these changes were supposed to shrink Ethereum's supply over time, because when burns outpace the rate of new issuance to validators, the coin's supply contracts. The catch is that the mechanism only works when gas fees are high enough to burn significant amounts of Ether coins. For the process to become meaningful, average gas prices need to exceed a threshold of roughly 16 gwei (the unit of measurement for gas). The current average gas price is less than 0.2 gwei. Expand CRYPTO : ETH Ethereum Today's Change ( 0.98 %) $ 19.50 Current Price $ 2004.40 Key Data Points Market Cap $242B Day's Range $ 1972.57 - $ 2023.22 52wk Range $ 1756.73 - $ 4946.05 Volume 12.7B The result is that rathe...
Meta announced last month that it is cutting 8,000 employees and canceling another 6,000 open requisitions, many of them for software engineers. Google’s CEO told Cloud Next in April that 75% of new code at the company is now AI-generated. Stanford researchers report that employment of software developers between the ages of 22 and 25 has fallen 20% since late 2022. And yet, in the same window, my...
Meta announced last month that it is cutting 8,000 employees and canceling another 6,000 open requisitions, many of them for software engineers. Google’s CEO told Cloud Next in April that 75% of new code at the company is now AI-generated. Stanford researchers report that employment of software developers between the ages of 22 and 25 has fallen 20% since late 2022. And yet, in the same window, my 50-person consulting firm hired its first full-stack software developer in January. We hired a second in April. We’re likely to hire a third before the year is out. Big Tech is right that AI is rewriting the developer profession. We’re right to be hiring into it. Both things are true — and the gap between them is the most important workforce story no one is telling. I have done this before Sixteen years ago at Microsoft, I helped build a product that severely threatened an entire job category. Power BI was a direct challenge to the elite priesthood of Business Intelligence developers – highly-paid professionals who’d spent years learning a deeply technical craft. Our explicit goal was to unlock professional-grade BI for a much broader audience. Good for the world. Bad, on paper, for the priesthood. And the product did what it was designed to do. It sidestepped the bottleneck. It ushered in an era of information abundance. It put real BI within reach of people who couldn’t spell SQL. But the priesthood didn’t disappear. They got busier. A profession formerly numbered in the thousands now numbers in the millions – and the original specialists, the ones who actually understood the hard parts, found themselves more in demand than ever. The total surface area of BI in the world grew by orders of magnitude. Even if most of that new work was beneath their pay grade, the number of complex projects also exploded. Elite professionals were the natural choice for those. When something becomes cheaper, the world makes more of it. That is the only sentence in this essay that I am sure o...
(RTTNews) - International Flavors & Fragrances Inc. (IFF), a flavors and fragrances company, said that it has inked a deal to sell its Food Ingredients business to the funds advised by CVC Capital Partners, a private markets manager, for around $4.3 billion. The transaction is expected to be closed by the end of the second quarter of 2027. Erik Fyrwald, CEO of IFF, said: "This transaction represen...
(RTTNews) - International Flavors & Fragrances Inc. (IFF), a flavors and fragrances company, said that it has inked a deal to sell its Food Ingredients business to the funds advised by CVC Capital Partners, a private markets manager, for around $4.3 billion. The transaction is expected to be closed by the end of the second quarter of 2027. Erik Fyrwald, CEO of IFF, said: "This transaction represents an important strategic milestone in our ongoing portfolio optimization initiative, allowing us to further concentrate resources on our higher-growth, higher-margin segments." Post transaction, IFF expects to receive net cash proceeds of around $3.8 billion. The company will utilize these proceeds to repay debt, to fund share repurchases, and to reinvest in high-return growth and high-return opportunities across the core portfolio. The company expects the sale to be dilutive to its adjusted profit per share in the first 12 months post close, prior to the benefits from capital deployment and any actions to address stranded overhead costs. Post transaction, IFF will retain around 10% minority equity interest in the business, or approximately $200 million. In addition, the IFF has reaffirmed its annual guidance. For fiscal 2026, IFF still expects adjusted operating EBITDA of $2.05 billion to $2.15 billion, with sales of $10.5 billion to $10.8 billion. IFF was up by 3.79% at $81 in the pre-market trade on the New York Stock Exchange. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
东方雨虹公告，公司控股子公司印尼东方雨虹拟以自有资金合计约14263.88亿印尼卢比（约5.42亿人民币），分别以增资及股权收购方式取得PT IALK 55%股权，以股权收购方式取得PT ACUM 55%股权。近日，印尼东方雨虹已与相关方签署《股份认购协议》及《ACUM与IALK股份买卖协议》。本次交易尚需履行公司董事会及股东会审批程序，并需经中国境内相关部门备案审批，能否顺利完成存在不确定性。
东方雨虹公告，公司控股子公司印尼东方雨虹拟以自有资金合计约14263.88亿印尼卢比（约5.42亿人民币），分别以增资及股权收购方式取得PT IALK 55%股权，以股权收购方式取得PT ACUM 55%股权。近日，印尼东方雨虹已与相关方签署《股份认购协议》及《ACUM与IALK股份买卖协议》。本次交易尚需履行公司董事会及股东会审批程序，并需经中国境内相关部门备案审批，能否顺利完成存在不确定性。
Shi Yongxin, former abbot of the famous Shaolin Temple, has been sentenced to 24 years in jail for crimes including embezzlement and taking bribes, state news agency Xinhua reported. Shi was also fined 3.5 million yuan (US$516,000). More to follow …
Shi Yongxin, former abbot of the famous Shaolin Temple, has been sentenced to 24 years in jail for crimes including embezzlement and taking bribes, state news agency Xinhua reported. Shi was also fined 3.5 million yuan (US$516,000). More to follow …