Key PointsThe artificial intelligence (AI) boom is driving incredible demand for specialized data center chips, which is benefiting Advanced Micro Devices (AMD) and Broadcom.
Key PointsThe artificial intelligence (AI) boom is driving incredible demand for specialized data center chips, which is benefiting Advanced Micro Devices (AMD) and Broadcom.
Soaring inflation is making everyone miserable these days. But there is one upside to the price hikes: It should facilitate a sizable cost-of-living adjustment (COLA) for Social Security beneficiaries at the beginning of next year. Contrary to a common belief, the annual increases in Social Security 's monthly payments aren't arbitrarily pulled out of a hat or based on what the program's administr...
Soaring inflation is making everyone miserable these days. But there is one upside to the price hikes: It should facilitate a sizable cost-of-living adjustment (COLA) for Social Security beneficiaries at the beginning of next year. Contrary to a common belief, the annual increases in Social Security 's monthly payments aren't arbitrarily pulled out of a hat or based on what the program's administrators feel is an affordable raise for any given year. These payment improvements are actually based on the nation's consumer inflation rates, as officially determined by the U.S. Bureau of Labor Statistics. And it's not just the number for a full calendar year. To ensure these adjustments are indicative of conditions at the time before going into effect in January, the Social Security Administration uses the average annualized consumer inflation rate for the three months of the third quarter of the calendar year. Last year, that number was 2.8%, translating into about a $56 improvement in the average monthly payment . Continue reading
Nagarro SE press release ( NGRRF ): Q1 adjusted EBITDA grew by €1.0 million from €30.2 million (12.2% of revenue) in Q1 2025 to €31.2 million (12.6% of revenue) in Q1 2026. Revenue of €248.1M (+0.5% Y/Y). Net profit increased by €7.9 million to €19.2 million in Q1 2026 from €11.2 million in Q1 2025. The number of clients generating more than €1 million in last 12-month revenue was 179 in Q1 2026, ...
Nagarro SE press release ( NGRRF ): Q1 adjusted EBITDA grew by €1.0 million from €30.2 million (12.2% of revenue) in Q1 2025 to €31.2 million (12.6% of revenue) in Q1 2026. Revenue of €248.1M (+0.5% Y/Y). Net profit increased by €7.9 million to €19.2 million in Q1 2026 from €11.2 million in Q1 2025. The number of clients generating more than €1 million in last 12-month revenue was 179 in Q1 2026, down from 186 in Q1 2025. Operating cash flows in Q1 2026 declined to negative €0.3 million from positive €37.5 million in Q1 2025 mainly due to a relative increase in working capital of €32.4 million. Nagarro's cash balance at the end of March 31, 2026, was €112.6 million as against €124.6 million at the end of December 31, 2025. More on Nagarro SE Historical earnings data for Nagarro SE Dividend scorecard for Nagarro SE Financial information for Nagarro SE
HSBC Holdings Plc is yet to make material headway in plans to invest as much as $4 billion into its asset manager’s private credit funds, according to a spokesperson. The bank said last year it had earmarked that sum to grow the funds and muscle further into the $1.8 trillion asset class, which has so far been dominated by global alternatives managers such as Blackstone Inc. and Apollo Global Mana...
HSBC Holdings Plc is yet to make material headway in plans to invest as much as $4 billion into its asset manager’s private credit funds, according to a spokesperson. The bank said last year it had earmarked that sum to grow the funds and muscle further into the $1.8 trillion asset class, which has so far been dominated by global alternatives managers such as Blackstone Inc. and Apollo Global Management Inc. However, the Asia-focused lender is still keeping its powder dry. “We are committed to our asset management’s offering in private credit funds,” a spokesperson for HSBC said in a statement. The Financial Times earlier reported on the lack of progress. HSBC is expecting a $400 million hit from a loan it provided to Apollo’s Atlas SP Partners unit. Atlas, in turn, lent to mortgage firm Market Financial Solutions Ltd. , which collapsed into a form of UK insolvency earlier this year amid allegations of fraud. Collapses involving non-bank lenders have spooked investors in the market, as have concerns that many private credit borrowers are heavily exposed to software companies that may be upended by developments in artificial intelligence. Retail investors in particular have raced to pull money out of certain private credit vehicles, leading some managers to limit redemptions. HSBC conducted a review of the $400 million provision and is updating its risk appetite, Chairman Brendan Nelson said at the bank’s annual general meeting earlier this month. HSBC remains broadly comfortable in the area of private credit, he said. The London-based lender last year reorganized its financing and advisory units so it could house all of its investment banking activities under a single management structure. As part of that, private credit and debt capital markets operations were moved to sit alongside its corporate finance and strategic advisory businesses. Read More: HSBC Revamps Financing, Advisory to Help Private Credit Push
Bristol-Myers Squibb (BMY) has just signed a collaboration and licensing agreement with Hengrui Pharma covering 13 early stage oncology, hematology and immunology programs, a large commitment that could reshape its future pipeline. See our latest analysis for Bristol-Myers Squibb. At a share price of $56.77, Bristol-Myers Squibb has a 1-year total shareholder return of 30.12%, while the year to da...
Bristol-Myers Squibb (BMY) has just signed a collaboration and licensing agreement with Hengrui Pharma covering 13 early stage oncology, hematology and immunology programs, a large commitment that could reshape its future pipeline. See our latest analysis for Bristol-Myers Squibb. At a share price of $56.77, Bristol-Myers Squibb has a 1-year total shareholder return of 30.12%, while the year to date share price return of 6.19% and recent 90 day share price weakness suggest momentum has...
Under aviation regulator proposals rival companies would bid to design and build parts of airport expansion Heathrow could be forced to allow other companies to design and build its third runway and new terminal after the UK aviation regulator argued that rival bids could keep construction costs down. A long-awaited review by the Civil Aviation Authority (CAA) proposes changes to the regulatory mo...
Under aviation regulator proposals rival companies would bid to design and build parts of airport expansion Heathrow could be forced to allow other companies to design and build its third runway and new terminal after the UK aviation regulator argued that rival bids could keep construction costs down. A long-awaited review by the Civil Aviation Authority (CAA) proposes changes to the regulatory model that governs how Heathrow runs and covers its costs. Continue reading...
Maksim Labkouski Diversified Royalty Corp. ( BEVFF ) has entered into a definitive agreement to acquire the remaining operational assets of the Lube + Tires franchisor business in Canada for an aggregate purchase price of C$235 million. Lube + Tires is the leading Canadian automotive service chain specializing in fast, drive-in drive-through, no-appointment-needed vehicle maintenance. The total pu...
Maksim Labkouski Diversified Royalty Corp. ( BEVFF ) has entered into a definitive agreement to acquire the remaining operational assets of the Lube + Tires franchisor business in Canada for an aggregate purchase price of C$235 million. Lube + Tires is the leading Canadian automotive service chain specializing in fast, drive-in drive-through, no-appointment-needed vehicle maintenance. The total purchase price for acquiring Lube + Tires is C$235 million, with an extra C$2.0 million in transaction costs. Funding sources include C$34 million from cash, C$41.1 million from an undrawn facility, C$212.5 million from a new senior credit facility, C$13.7 million in DIV shares, and C$20.6 million of rolled equity for management. Lube + Tires will also give an C$11.6 million loan to help with GST after the acquisition. The acquisition of Lube + Tires offers DIV a chance to gain one of Canada’s top franchisor businesses. Mr. Lube + Tires has a strong economic model, with franchisees achieving high returns and interest in expanding. Since 2015, DIV has enjoyed strong same-store sales growth of 7.2% over ten years. After the acquisition, DIV anticipates benefits from continued sales growth and new store openings, with Lube + Tires' Adjusted EBITDA growing at 14.7% annually. DIV will continue to focus on royalty financing for North American franchisors. In 2025, DIV and its subsidiary received C$34.1 million in royalties from Lube + Tires. The new business is expected to generate about C$58.7 million in Adjusted EBITDA in its first year. Lube + Tires plans to open 16 new locations in 2025, with more planned for 2026 and 2027. After the deal, current employees will be retained, and the leadership team will support the acquisition with a $20.6 million investment. Royalties and management fees will continue until the acquisition closes, with certain adjustments contingent on the deal’s success. The transaction is expected to close on or before the end of Q2 2026, subject to customar...
FactoryTh/iStock via Getty Images NanoXplore Inc. ( NNXPF ) reported fiscal 3Q26 results (calendar 1Q26). The results were good, reversing the previous fall in revenues from earlier in the fiscal year. Revenues have recovered, and adjusted EBITDA is again positive. There are chances of continued improvement if the trucking market turns and if volumes from customers like Volvo and PACCAR continue t...
FactoryTh/iStock via Getty Images NanoXplore Inc. ( NNXPF ) reported fiscal 3Q26 results (calendar 1Q26). The results were good, reversing the previous fall in revenues from earlier in the fiscal year. Revenues have recovered, and adjusted EBITDA is again positive. There are chances of continued improvement if the trucking market turns and if volumes from customers like Volvo and PACCAR continue to recover. However, this is still uncertain. Overall, however, the name remains unprofitable on a GAAP basis, which makes me question why it should trade at a 2/3x revenue multiple. The company has a niche product and several possible growth avenues, but the valuation still discounts too much. I maintain a Hold. 3Q26 results As a reminder, NanoXplore’s fiscal year ends in June, so fiscal 3Q26 corresponds to calendar 1Q26. The results were really good in terms of recovery from a terrible Q1 and a still weak Q2. This is what the company had promised in past calls , and it is good that it was achieved. Management had said Q1 was the trough, and the last two quarters show that this was probably true. Revenues were actually up 6% YoY and ~15% sequentially. The improvement came from a new OEM piece program (Club Car), shipments under the CPChem contract discussed in previous articles , and higher tooling revenues. The company is now almost back to the quarterly revenue level it had before the downturn. Gross margins also recovered sequentially, which is natural given the need for volume dilution of overhead in a manufacturing business. Adjusted EBITDA was CAD $1.2 million, compared with CAD $220 thousand in Q2 and a CAD $1.4 million loss in Q1. Again, the challenges are behind in adjusted EBITDA terms, and profitability is close to what it was last year. The company said that adjusted EBITDA, further adjusted for a grant received last year, was actually CAD 350 thousand higher than last year, but, truth be told, SBC was also higher by CAD 200 thousand, so the improvement is at be...