Bank of America Corp. is picking new favorites in the European defense sector as the Iran war highlights the importance of missile systems and drones. Analysts led by Benjamin Heelan said they now prefer companies that help build the systems that detect, track and shoot down incoming threats — rather than tank and artillery makers. The shift is “structurally positive” for BAE Systems Plc , Thales ...
Bank of America Corp. is picking new favorites in the European defense sector as the Iran war highlights the importance of missile systems and drones. Analysts led by Benjamin Heelan said they now prefer companies that help build the systems that detect, track and shoot down incoming threats — rather than tank and artillery makers. The shift is “structurally positive” for BAE Systems Plc , Thales SA , Leonardo SpA , Kongsberg Gruppen ASA and Hensoldt AG , they wrote, upgrading Hensoldt to buy from neutral and lifting the price targets for BAE and Kongsberg. At the same time, they lowered their price targets on Germany’s tank and ammunition heavyweight Rheinmetall AG and gearbox maker Renk AG . Sweden’s Saab AB , which makes fighter jets, was cut to hold on valuation concern. The fighting in the Middle East and Ukraine has underscored the importance of drones and artificial intelligence systems for NATO. Iran launched ballistic missiles targeting a joint US-UK military base 2,500 miles (4,000 kilometers) away in Diego Garcia on Friday, a range that could put major European cities at risk. While unsuccessful, the attack on the Diego Garcia base “reinforces the urgency of EU air defense investment, supporting upside across fighter aircraft, missiles, radars and advanced ground-based systems,” Heelan wrote. Demand is accelerating for “integrated solutions” that include ballistic, cruise and hypersonic missile defense, as well as aircrafts and anti-drone systems, he wrote. Such companies are reporting “strong inbound interest from Gulf states and rising order expectations from European governments,” he said. A Goldman Sachs Group Inc. basket of European defense names fell as much as 3.2% on Thursday, with 2026 gains now at around 12%. Saab dropped as much as 5.8% following the BofA downgrade and Renk was also among the worst performers. Rheinmetall declined as much 3.1%, while fellow-ammunition producer CSG NV tumbled after its annual results . Iran’s Harder-to-Hunt Long...
The Iran war’s oil shock has dramatically increased the security risk for oil-dependent countries, incentivising a turn towards renewable energy. This impact will outlast the war and oil price spikes because the world knows this war will recur. China will be the biggest beneficiary and its exports are likely to do very well this year, offsetting losses from buying higher-priced oil. A fifth of the...
The Iran war’s oil shock has dramatically increased the security risk for oil-dependent countries, incentivising a turn towards renewable energy. This impact will outlast the war and oil price spikes because the world knows this war will recur. China will be the biggest beneficiary and its exports are likely to do very well this year, offsetting losses from buying higher-priced oil. A fifth of the global supply of oil and liquefied natural gas plus a third of seaborne fertilisers traditionally...
Company Positions for Growth with AI-Driven Media, Marketing, Digital Asset Expansion Company Positions for Growth with AI-Driven Media, Marketing, Digital Asset Expansion
Company Positions for Growth with AI-Driven Media, Marketing, Digital Asset Expansion Company Positions for Growth with AI-Driven Media, Marketing, Digital Asset Expansion
Canadian energy producer and Bitcoin miner New West Data is exploring a US initial public offering to help meet the growing need for powerful computing systems. The Calgary-based firm operates oil wells, and uses natural gas to generate the electricity needed for Bitcoin mining. A listing would help fund New West’s expansion plans, to buy more wells and power that can in turn power infrastructure ...
Canadian energy producer and Bitcoin miner New West Data is exploring a US initial public offering to help meet the growing need for powerful computing systems. The Calgary-based firm operates oil wells, and uses natural gas to generate the electricity needed for Bitcoin mining. A listing would help fund New West’s expansion plans, to buy more wells and power that can in turn power infrastructure for high-performance computing, which is more energy-intensive than Bitcoin mining. The company plans to pursue more than $100 million of acquisitions, according to New West Chief Executive Officer Sean McDonough. “New West Data is actively exploring all options for go-forward financing, including a potential US public listing,” McDonough said in an interview. The move comes as many Bitcoin miners shift to providing computing power for artificial intelligence and data centers, after a sharp decline in crypto prices and lower rewards for mining as a result. By contrast, demand for compute is surging. Four of the biggest US technology companies have forecast combined capital expenditures that will reach about $650 billion in 2026 — earmarked for new data centers and associated equipment. Read More: Big Tech to Spend $650 Billion This Year as AI Race Intensifies An IPO for New West could raise hundreds of millions of dollars, according to a person familiar with the matter, who asked not to be identified discussing private information. New West currently operates 24 wells producing about 1,000 barrels a day of oil-equivalent and generates 15 megawatts of power. It generates around half its revenue from oil sales and the other half from Bitcoin mining, but expects to see more revenue coming from compute as it expands to HPC. The firm raised $20 million in equity financing in 2025 and is profitable, according to McDonough. Its vertical integration of producing the gas, electricity and compute lowers the cost of compute for Bitcoin mining, he said. “I think in a world of exponenti...
MetaX Integrated Circuits Shanghai Co. ’s full-year revenue more than doubled, driven by robust domestic artificial intelligence demand while Nvidia Corp. is squeezed out of the Chinese market. Revenue rose to 1.6 billion yuan ($232 million) in 2025 from 743 million yuan a year earlier, according to a Thursday filing . Losses for the same period narrowed to 779 million yuan. This is the first time...
MetaX Integrated Circuits Shanghai Co. ’s full-year revenue more than doubled, driven by robust domestic artificial intelligence demand while Nvidia Corp. is squeezed out of the Chinese market. Revenue rose to 1.6 billion yuan ($232 million) in 2025 from 743 million yuan a year earlier, according to a Thursday filing . Losses for the same period narrowed to 779 million yuan. This is the first time the Shanghai-based chip firm has released earnings since its December initial public offering. Its fully domestic C600 chip is expected to begin mass production and sales in the first half of 2026 and poised to “become the company’s next-generation flagship product,” MetaX said in the statement. “Driven by the US-China technology rivalry and policies promoting domestic substitution, the market penetration of Chinese-made AI chips has shown a significant upward trend in recent years,” the firm said. More domestic manufacturers may enter the market to compete in the future as growth accelerates, it added. MetaX is among a wave of Chinese AI firms that rushed to raise funds to accelerate growth as Beijing supports home-grown champions in the sector. The Shanghai-listed stock has more than quintupled since its debut.
Stocks, Bonds Slide As Ceasefire Hopes Fade It's Day 27 of the war: stocks and bonds fell globally as ceasefire optimism fades given mixed messages on progress toward ending the war in Iran and growing uncertainty over Iran’s willingness to engage in talks about a ceasefire in the Middle East sent oil prices higher. Futures gapped lower just after 5am ET, when Axios reported that the Pentagon is d...
Stocks, Bonds Slide As Ceasefire Hopes Fade It's Day 27 of the war: stocks and bonds fell globally as ceasefire optimism fades given mixed messages on progress toward ending the war in Iran and growing uncertainty over Iran’s willingness to engage in talks about a ceasefire in the Middle East sent oil prices higher. Futures gapped lower just after 5am ET, when Axios reported that the Pentagon is developing military options for a “final blow” in Iran that could include ground troops. Trump urged Iran “to get serious” before it was too late but Tehran is steadfast saying no negotiations are occurring and both side rejecting each other’s deal demands as the fighting continues & more military assets arriving. As of 8:00am ET, S&P 500 futures dropped 0.9%, at session lows, with about 48 hours before a US delay in strikes on Iranian energy infrastructure expires. Nasdaq futures slumped more than 1%.In premarket trading, Mag7 names were down with all sectors lower ex-Energy. Brent resumed its advance, rising 3.8% to above $106 a barrel; Oil is on track for its biggest monthly jump in more than three decades, as the Trump administration examines potential consequences if prices spike to $200 a barrel. The move rekindled inflation fears and pushed yields higher as money markets priced in tighter monetary policy. Two-year Treasury yields rose four basis points to 3.93% as the yield curve bear flattened with yields +4 – 6bp; the 10Y yield was back up to 4.39%, pushing the USD also higher. Gold slipped below $4,450 an ounce. Today’s macro data focus is on initial / continuing claims In premarket trading, Mag 7 stocks are all lower (Alphabet -1%, Amazon -1%, Apple -0.2%, Nvidia -1.2%, Meta -1.3%, Microsoft -0.4%, Tesla -1%) US mining stocks fell and energy stocks rose as attacks in the Middle East continued and US President Donald Trump warned Iran to get serious about discussions “before it is too late.” Memory-chip stocks fall in reaction to a new compression technique propose...