Mecom Gas Pvt Ltd. is considering an initial public offering on the Pakistan Stock Exchange to raise $20 million for the construction of a liquefied petroleum gas storage facility. The LPG retailer is in talks with the investment bank Arif Habib Ltd. to advise on the planned offering, Chief Executive Officer Kamran Afzal said. Mecom Gas is looking to build 3,000 tons of storage capacity with the p...
Mecom Gas Pvt Ltd. is considering an initial public offering on the Pakistan Stock Exchange to raise $20 million for the construction of a liquefied petroleum gas storage facility. The LPG retailer is in talks with the investment bank Arif Habib Ltd. to advise on the planned offering, Chief Executive Officer Kamran Afzal said. Mecom Gas is looking to build 3,000 tons of storage capacity with the proceeds, he said. Pakistan ’s energy sector is facing a crunch because of the war in Iran. The country imports much of its oil and gas, most of it from the Middle East, leaving it particularly exposed to rising prices and interrupted shipments. Qatar, for example, supplied virtually all of its liquefied natural gas — meaning that with the Strait of Hormuz effectively closed, gas-fired power plants are unable to operate at capacity. The LPG sector is facing similar disruptions and Kamran said that the price of the fuel has doubled in the last six months. Local production and imports have a roughly equal weight in the market, though the latter has increased in the past years. Pakistan is having a bumper year for new equity offerings as surging retail participation and the market near an all-time high are attracting companies. Chinese tire venture Service Long March Tyres Ltd. raised 7.8 billion rupees ($28 million) this week in the largest private-sector listing in the nation’s history. Read More: Pakistan’s 47% Stock Boom Sets Stage for Bumper Year of IPOs (1) The war’s impact has driven Mecom Gas’ momentum toward expanding storage facilities, which would help mitigate price swings. Storage capacity needs to more than double to have proper reserves, according to Kamran. The company has regulatory approval to build its own storage capacity. For the latest news on equity capital markets activity in the Asia-Pacific region, follow the channel or visit NI BFWECMAS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here .
IFP Advisors Inc decreased its position in Intel Corporation (NASDAQ:INTC - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,736 shares of the chip maker's stock after selling 8,934 shares during the period. IFP Advisors Inc's holdings in Intel were worth $5,046,000 as of its most recent SEC ...
IFP Advisors Inc decreased its position in Intel Corporation (NASDAQ:INTC - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,736 shares of the chip maker's stock after selling 8,934 shares during the period. IFP Advisors Inc's holdings in Intel were worth $5,046,000 as of its most recent SEC filing. Get Intel alerts: Sign Up Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Winch Advisory Services LLC grew its position in Intel by 28.3% in the 4th quarter. Winch Advisory Services LLC now owns 966 shares of the chip maker's stock worth $36,000 after purchasing an additional 213 shares during the last quarter. Focus Financial Network Inc. grew its position in Intel by 2.1% in the 4th quarter. Focus Financial Network Inc. now owns 10,788 shares of the chip maker's stock worth $398,000 after purchasing an additional 223 shares during the last quarter. Successful Portfolios LLC grew its position in Intel by 2.6% in the 4th quarter. Successful Portfolios LLC now owns 8,715 shares of the chip maker's stock worth $322,000 after purchasing an additional 223 shares during the last quarter. Providence Wealth Advisors LLC grew its position in Intel by 1.7% in the 4th quarter. Providence Wealth Advisors LLC now owns 13,340 shares of the chip maker's stock worth $527,000 after purchasing an additional 225 shares during the last quarter. Finally, Orca Investment Management LLC grew its position in Intel by 0.5% in the 4th quarter. Orca Investment Management LLC now owns 50,697 shares of the chip maker's stock worth $1,871,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 64.53% of the company's stock. Insider Buying and Selling In related news, EVP Boise April Miller sold 40,256 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were so...
May 21 (Reuters) - The Trump administration is awarding $2 billion in grants to nine quantum-computing companies in deals that include the U.S. government taking equity stakes, the Wall Street Journal reported on Thursday, citing the Commerce Department. The department has agreed to give $1 billion of the package to IBM, while GlobalFoundries will receive $375 million, according to the report. ...
May 21 (Reuters) - The Trump administration is awarding $2 billion in grants to nine quantum-computing companies in deals that include the U.S. government taking equity stakes, the Wall Street Journal reported on Thursday, citing the Commerce Department. The department has agreed to give $1 billion of the package to IBM, while GlobalFoundries will receive $375 million, according to the report. The remaining firms, including D-Wave Quantum, Rigetti Computing and Infleqtion, are expected to receive $100 million each, while startup Diraq may receive $38 million, according to the WSJ report. The investments would extend the Trump administration's push to take equity stakes in companies considered critical to the domestic supply chain as well as to counter China's dominance in certain sectors, including chipmaking. It has already taken big stakes in companies such as Intel and MP Materials, a rare earth mining company. Quantum computers harness the laws of quantum mechanics to process information exponentially faster than traditional supercomputers for handling complex mathematical problems. But existing quantum computers dedicate so much of their computing power to fixing errors that they are not, on net, faster than classical computers. The U.S. Department of Commerce, IBM, GlobalFoundries, Rigetti Computing, D-Wave Quantum and Infleqtion did not immediately respond to Reuters' requests for comment. Shares of companies that are part of the deal rose between 7% and 21% in premarket trading. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Vijay Kishore)
An ex-Austrian intelligence officer was found guilty of passing on state secrets to a fugitive former top executive at the fraudulent payments company Wirecard in a high-profile spy case that has prompted authorities in Vienna to tighten rules on espionage. Egisto Ott was handed a prison sentence of more than four years for spying, abuse of office, bribery and embezzlement, and other charges, acco...
An ex-Austrian intelligence officer was found guilty of passing on state secrets to a fugitive former top executive at the fraudulent payments company Wirecard in a high-profile spy case that has prompted authorities in Vienna to tighten rules on espionage. Egisto Ott was handed a prison sentence of more than four years for spying, abuse of office, bribery and embezzlement, and other charges, according to a statement from the Vienna Regional Criminal Court late on Wednesday. He was found innocent on some counts and will appeal the verdict, a lawyer told reporters outside the courtroom. Ott, who had been a director in his nation’s secret service, was accused of passing on classified information to Wirecard’s ex-chief operating officer Jan Marsalek and Russian operatives between 2017 and 2021. The intelligence related among others to former Russian spies and Bellingcat investigative journalist Christo Grozev, who has since left Austria for security reasons. Egisto Ott arrives to attend a session of his trial at the criminal court in Vienna on Tuesday. Photo: AFP He was also found guilty of handing over an encrypted laptop used by European Union officials to an unknown person on behalf of Marsalek, who ran a ring of Russian spies and is reportedly living in Moscow after fleeing prosecution. Advertisement “I’m surprised that almost the highest penalty has been given to a person without prior conviction,” Ott’s lawyer Anna Mair said on Wednesday. “We will challenge the verdict in its entirety.” Ott’s conviction follows a lengthy court trial that included 40 witnesses and was closely followed in Austria due to the ex-intelligence officer’s alleged ties to the far-right Freedom Party. Advertisement The centrist coalition in Vienna is preparing stricter rules on espionage to shed a reputation of being one of Europe’s largest hubs for covert operations. Current legislation only prohibits spying to the detriment of Austria, meaning intelligence officers are free to conduct op...
cosmin4000/iStock via Getty Images Since my last analysis on Broadcom ( AVGO ), the stock has gained 18.5% in price. I will begin this analysis by saying that once valuations for Broadcom and other AI compounders, Nvidia ( NVDA ) included, reset, I will likely be one of the first to buy hand-over-fist. The issue right now is that macro valuations and the valuations of AI-era compounders on the sem...
cosmin4000/iStock via Getty Images Since my last analysis on Broadcom ( AVGO ), the stock has gained 18.5% in price. I will begin this analysis by saying that once valuations for Broadcom and other AI compounders, Nvidia ( NVDA ) included, reset, I will likely be one of the first to buy hand-over-fist. The issue right now is that macro valuations and the valuations of AI-era compounders on the semiconductor level have largely become far too overvalued. Even the companies that are somewhat fairly valued, like NVDA, are currently risky to own due to broader AI semiconductor correlation. The semiconductor industry is overvalued, de facto, and I will explain this in more detail below. Data by YCharts Q2 Earnings Expectations Overview Broadcom reports Q2 on 6/3/26, and so I will provide a quick overview here, before continuing with the full analysis. The quarter will be focused on relative acceleration and margin durability. Revenue is guided to grow about 47% year-over-year, which is far above Q1's 29% year-over-year. AI semiconductor revenue is forecast to grow faster than the company average and accelerate sharply sequentially. Even though infrastructure software growth is slower, VMware can provide high-margin security to the financial statements if renewals and ARR continues to prove stable. Management will likely continue to be able to show AI demand shifting from training-heavy buildout to mass inference deployment, meaning that Broadcom's XPU and AI networking focus maintains its investor appeal. I would look for adjusted EBITDA margin holding near 68%, despite AI mix pressure, as this would be bullish in the medium term. The risk in the near term is that growth remains good but stops surprising, and in the medium term the downside case is downward revisions as the AI trend cools due to downstream AI demand (end-consumers of the hyperscalers) muting substantially. The Stock Is Not Low-Quality, It Is Overvalued I'm not questioning whether Broadcom is an amazing co...
cosmin4000/iStock via Getty Images Since my last analysis on Broadcom Inc. ( AVGO ), the stock has gained 18.5% in price. I will begin this analysis by saying that once valuations for Broadcom and other AI compounders, including NVIDIA Corporation ( NVDA ), reset, I will likely be one of the first to buy hand over fist. The issue right now is that macro valuations and the valuations of AI-era comp...
cosmin4000/iStock via Getty Images Since my last analysis on Broadcom Inc. ( AVGO ), the stock has gained 18.5% in price. I will begin this analysis by saying that once valuations for Broadcom and other AI compounders, including NVIDIA Corporation ( NVDA ), reset, I will likely be one of the first to buy hand over fist. The issue right now is that macro valuations and the valuations of AI-era compounders on the semiconductor level have largely become far too overvalued. Even the companies that are somewhat fairly valued, like NVDA, are currently risky to own due to the broader AI semiconductor correlation. The semiconductor industry is overvalued, de facto, and I will explain this in more detail below. Data by YCharts Q2 Earnings Expectations Overview Broadcom reports Q2 on 6/3/26, and so I will provide a quick overview here before continuing with the full analysis. The quarter will be focused on relative acceleration and margin durability. Revenue is expected to grow about 47% year-over-year, which is far above Q1's 29% year-over-year. AI semiconductor revenue is forecast to grow faster than the company average and accelerate sharply sequentially. Even though infrastructure software growth is slower, VMware can provide high-margin security to the financial statements if renewals and ARR continue to prove stable. Management will likely continue to be able to show AI demand shifting from training-heavy buildout to mass inference deployment, meaning that Broadcom's XPU and AI networking focus maintains its investor appeal. I would look for an adjusted EBITDA margin holding near 68%, despite AI mix pressure, as this would be bullish in the medium term. The risk in the near term is that growth remains good but stops surprising, and in the medium term, the downside case is downward revisions as the AI trend cools due to downstream AI demand (end-consumers of the hyperscalers) muting substantially. The Stock Is Not Low-Quality, It Is Overvalued I'm not questioning whether...
Millwall and Wrexham are considering their legal options after confirmation that Southampton have been expelled from Saturday’s Championship playoff final and replaced by the beaten semi-finalists Middlesbrough. The aggrieved clubs will await publication of the written reasons for the decisions taken by the English Football League’s independent disciplinary panel, which were upheld by an appeal pa...
Millwall and Wrexham are considering their legal options after confirmation that Southampton have been expelled from Saturday’s Championship playoff final and replaced by the beaten semi-finalists Middlesbrough. The aggrieved clubs will await publication of the written reasons for the decisions taken by the English Football League’s independent disciplinary panel, which were upheld by an appeal panel on Wednesday night, but are understood to believe they could have grounds to make a claim for compensation. Millwall and Wrexham could seek to test whether the EFL rulebook has been correctly applied or whether the disciplinary process was flawed, and could argue that because Southampton’s spying on Middlesbrough took place before the playoffs, they should have been replayed without Southampton’s involvement. Millwall were beaten by Hull in the playoff semi-finals after finishing third and Wrexham missed out after finishing seventh. There has been speculation in legal circles that one of the parties could seek an injunction at the high court to force the EFL to postpone Saturday’s final between Southampton and Hull but that is regarded as a non-starter owing to the timescale. Any claim would therefore be retrospective for damages. Hull’s owner, Acun Ilicali, said on Wednesday that his club had received legal advice that they should be automatically promoted to the Premier League as a result of Southampton’s expulsion rather than playing Middlesbrough. There appears little prospect of Hull pursuing that case in the next 48 hours but they could also pursue a claim for damages if beaten at Wembley in a game worth a minimum of £200m to the winners. Publication of the written reasons will be key because there has been little explanation from the EFL as to how it arrived at its decisions and the process involved. By giving Southampton two sanctions – expulsion from the final and a four-point penalty in next season’s Championship – after the club admitted to spying Middlesbrou...
Tesla Rolls Out FSD In China In a post on X on Wednesday, Tesla’s official handle posted a list of countries where the Supervised FSD service was available. The list includes the United States, Canada, Mexico, Puerto Rico, China, Australia, New Zealand, South Korea, as well as the Netherlands and Lithuania. The list takes the total number of countries offering FSD technology to 10. Tesla did not p...
Tesla Rolls Out FSD In China In a post on X on Wednesday, Tesla’s official handle posted a list of countries where the Supervised FSD service was available. The list includes the United States, Canada, Mexico, Puerto Rico, China, Australia, New Zealand, South Korea, as well as the Netherlands and Lithuania. The list takes the total number of countries offering FSD technology to 10. Tesla did not provide other details about the technology in the post, nor did it expand on the rollout of the service in China. For years, Tesla’s FSD service remained ambiguous in the Chinese market, with customers only allowed to access Autopilot due to FSD’s lack of regulatory approval. Tesla currently offers “Intelligently Assisted Driving” in the Chinese market, according to the official website, for RMB 64,000 (approximately $9,400). Tesla’s China Woes Trump-Xi Meet Following Trump’s visit to China, where the President was accompanied by various CEOs, including Musk, Xi assured that the Chinese market would open wider to U.S. investments. Benzinga Edge Rankings show that Tesla scores well on the Growth and Quality metrics. It also offers a favorable price trend in the Long Term. Price Action: Tesla shares surged 1.56% at $423.75 during pre-market trading on Thursday. Check out more of Benzinga's Future Of Mobility coverage by following this link. Photo courtesy: Tada Images / Shutterstock
Tesla Inc. (NASDAQ:TSLA) has finally rolled out its Full Self-Driving (FSD) service in China following President Donald Trump‘s visit to China and meeting with Chinese President Xi Jinping. Tesla Rolls Out FSD In China In a post on X on Wednesday, Tesla’s official handle posted a list of countries where the Supervised FSD service was available. Read Also: Testing Tesla Cybertruck's Wade Mode Got T...
Tesla Inc. (NASDAQ:TSLA) has finally rolled out its Full Self-Driving (FSD) service in China following President Donald Trump‘s visit to China and meeting with Chinese President Xi Jinping. Tesla Rolls Out FSD In China In a post on X on Wednesday, Tesla’s official handle posted a list of countries where the Supervised FSD service was available. Read Also: Testing Tesla Cybertruck's Wade Mode Got This Man Arrested—But What Exactly Is It And How Does It Work? The list includes the United States, Canada, Mexico, Puerto Rico, China, Australia, New Zealand, South Korea, as well as the Netherlands and Lithuania. The list takes the total number of countries offering FSD technology to 10. Tesla did not provide other details about the technology in the post, nor did it expand on the rollout of the service in China. For years, Tesla’s FSD service remained ambiguous in the Chinese market, with customers only allowed to access Autopilot due to FSD’s lack of regulatory approval. Tesla currently offers “Intelligently Assisted Driving” in the Chinese market, according to the official website, for RMB 64,000 (approximately $9,400). FSD Supervised is now available in: – United States – Canada – Mexico – Puerto Rico – China – Australia – New Zealand – South Korea – The Netherlands – Lithuania — Tesla (@Tesla) May 20, 2026 Tesla’s China Woes Musk, earlier this year, shared that he expected the Chinese authorities to approve FSD, but his claim was refuted by sources in Beijing. FSD is also approved by the Dutch Regulator, Netherlands Vehicle Authority (RDW). Tesla also recently fell out of the top 10 EV makers in the Chinese domestic market following a poor retail sales run during April. Tesla was outsold by local rivals like BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF). Trump-Xi Meet Following Trump’s visit to China, where the President was accompanied by various CEOs, including Musk, Xi assured that the Chinese market would open wider to U.S. investments. Beijing also officially confirmed a ...
Shinsei Motions/iStock via Getty Images Investment thesis Entravision Communications ( EVC ) has quietly transformed from a struggling Spanish-language broadcaster into a rapidly growing ad-tech platform driven by Smadex and its Advertising Technology & Services segment. While the legacy Media business remains weak, ATS revenue grew 204% year over year in Q1 2026 with EBIT margins exceeding 22%, s...
Shinsei Motions/iStock via Getty Images Investment thesis Entravision Communications ( EVC ) has quietly transformed from a struggling Spanish-language broadcaster into a rapidly growing ad-tech platform driven by Smadex and its Advertising Technology & Services segment. While the legacy Media business remains weak, ATS revenue grew 204% year over year in Q1 2026 with EBIT margins exceeding 22%, suggesting the market may have underestimated the scalability and profitability of the business. Even after the stock's rally, Entravision still trades closer to traditional broadcasting multiples than ad-tech peers, which in my view leaves room for further upside if ATS can sustain even part of its current growth and operating leverage. The legacy business Entravision's legacy business is a television and radio broadcaster for Spanish speakers in the United States, generating revenue through advertising, broadcast fees and political campaigns just like any other business of this type. Some of the group's channels include Univision, UniMás, and the Spanish versions of well known networks like FOX and NBC. Also radio stations like La Tricolor or La Suavecita. Entravision Communications Growing up in a Spanish-speaking house, I'm familiar with these channels, and while they're quite well known, I don't see this legacy segment as an exceptional business that would interest me as an investor, to be honest. This is evident in the numbers as well because in Q1 2026, the Media segment generated $42.4 million in revenue, up just 4% year over year, and the segment posted EBIT of negative $2.4 million, implying a negative margin of -5.7%. Also, national advertising revenue declined 18%, reflecting softer demand from advertisers and agencies. ATS is changing the story However... the real story is its Advertising Technology & Services segment or ATS. Under this segment, the company helps advertisers and app developers optimize digital advertising campaigns using automation and artificia...
Gary Yeowell/DigitalVision via Getty Images Stock index futures slipped Thursday as traders digested Nvidia’s ( NVDA ) quarterly earnings report. Now, here are 5 news stories that broke overnight to watch out for: Trump expected to sign AI executive order : U.S. President Donald Trump is expected to sign an executive order on AI and cybersecurity as soon as Thursday, as pressure grows from parts o...
Gary Yeowell/DigitalVision via Getty Images Stock index futures slipped Thursday as traders digested Nvidia’s ( NVDA ) quarterly earnings report. Now, here are 5 news stories that broke overnight to watch out for: Trump expected to sign AI executive order : U.S. President Donald Trump is expected to sign an executive order on AI and cybersecurity as soon as Thursday, as pressure grows from parts of his political base to increase oversight of new AI models, such as Anthropic’s Mythos, Reuters reported, citing sources. The White House was working to get AI company CEOs to attend a signing ceremony with the president. AMD announces $10B Taiwan investment: AMD ( AMD ) announced more than $10B in investments across the Taiwan ecosystem to expand strategic partnerships and scale advanced packaging manufacturing for next-generation AI infrastructure. Working with strategic partners in Taiwan and globally, AMD is advancing leading-edge silicon, packaging, and manufacturing technologies that enable higher performance, greater efficiency, and faster deployment of AI systems. Tesla launches FSD Supervised in China: Tesla ( TSLA ) announced that FSD (fully self-driving) Supervised is now available in China, while the timeline for the fully autonomous system’s launch remains unclear. FSD Supervised is also available in the U.S., Canada, Mexico, Puerto Rico, Australia, New Zealand, South Korea, the Netherlands, and Lithuania. The system requires active driver supervision and does not make the vehicle fully autonomous. Nuclear startup Deep Fission files for IPO: Deep Fission, a Berkeley, California-based nuclear energy startup developing underground small modular reactors, filed for an initial public offering on Wednesday. The company said in its S-1 filing with the SEC that it plans to offer 6 million shares of common stock on the Nasdaq Global Market under the ticker symbol “FISN.” The filing signals that Wall Street’s appetite for advanced nuclear power remains strong amid surg...
(RTTNews) - Deere And Co (DE) released earnings for second quarter that Dropped, from the same period last year The company's bottom line totaled $1.773 billion, or $6.55 per share. This compares with $1.804 billion, or $6.64 per share, last year. The company's revenue for the period rose 4.7% to $13.369 billion from $12.763 billion last year. Deere And Co earnings at a glance (GAAP) : -Earnings: ...
(RTTNews) - Deere And Co (DE) released earnings for second quarter that Dropped, from the same period last year The company's bottom line totaled $1.773 billion, or $6.55 per share. This compares with $1.804 billion, or $6.64 per share, last year. The company's revenue for the period rose 4.7% to $13.369 billion from $12.763 billion last year. Deere And Co earnings at a glance (GAAP) : -Earnings: $1.773 Bln. vs. $1.804 Bln. last year. -EPS: $6.55 vs. $6.64 last year. -Revenue: $13.369 Bln vs. $12.763 Bln last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
iHub News 25 minutes ago Nvidia targets next wave of AI growth with new data centre chips and expanding customer base (NVDA)May 21, 2026 6:25 AM IH Market News NVIDIA (NASDAQ:NVDA) chief executive Jensen Huang sought to reassure investors on Wednesday that the company can maintain its rapid growth trajectory through a broader customer base and the launch of new data centre products, while projecti...
iHub News 25 minutes ago Nvidia targets next wave of AI growth with new data centre chips and expanding customer base (NVDA)May 21, 2026 6:25 AM IH Market News NVIDIA (NASDAQ:NVDA) chief executive Jensen Huang sought to reassure investors on Wednesday that the company can maintain its rapid growth trajectory through a broader customer base and the launch of new data centre products, while projecting that sales of its flagship AI chips could exceed US$1 trillion.Despite forecasting second-quarter revenue above Wall Street expectations and unveiling a new US$80 billion share buyback programme, Nvidia shares slipped 1.6% in extended trading, reflecting investor concerns over intensifying competition in the AI semiconductor market.The company expects second-quarter revenue of approximately US$91 billion, plus or minus 2%, ahead of analyst forecasts of US$86.84 billion, according to LSEG data.Nvidia’s quarterly results are widely viewed as a key indicator of overall AI industry momentum because its processors power many of the world’s largest and most advanced artificial intelligence systems and data centres.“Nvidia delivered another beat, but at this point that’s essentially priced in as it keeps beating quarter after quarter,” said Jacob Bourne, analyst at eMarketer.“The lingering question is whether it can convince investors the AI buildout has durability into 2027 and 2028, especially as the narrative shifts toward inference workloads and competing silicon from Google, Amazon, AMD, and Intel.”The company also announced plans to raise its quarterly cash dividend to 25 cents per share from 1 cent previously.Investment in AI infrastructure continues to accelerate rapidly, with major U.S. technology groups including Alphabet, Amazon and Microsoft expected to collectively spend more than US$700 billion on AI this year, up sharply from roughly US$400 billion in 2025.During a conference call with analysts, Huang said he expects Nvidia’s growth rate to outpace spending incre...