primeimages/E+ via Getty Images Market review The Morningstar LSTA US Leveraged Loan Index declined -0.55% in 1Q26. Increasing concerns about the impact on artificial intelligence (AI) across credits, sectors, and industries, as well as heightened geopolitical tensions tied to the Iran conflict and its impact on oil prices, weighed on the asset class. While performance was positive for BB-rated lo...
primeimages/E+ via Getty Images Market review The Morningstar LSTA US Leveraged Loan Index declined -0.55% in 1Q26. Increasing concerns about the impact on artificial intelligence (AI) across credits, sectors, and industries, as well as heightened geopolitical tensions tied to the Iran conflict and its impact on oil prices, weighed on the asset class. While performance was positive for BB-rated loans, up 0.71% during the period the performance of B-rated and CCC-rated loans drove the decline. Returns for B-rated and CCC-rated loans declined 0.90% and 4.94%, respectively. The technical picture softened meaningfully during the quarter. Loan fund flows deteriorated as a risk off tone took hold and volatility increased. Outflows from loan funds totaled -$7.46 billion during the quarter. Collateralized loan obligation (CLO) issuance proved to be more durable during the period coming in at $47.01 billion. While still active, these headwinds led to total loan primary activity of $241 billion, which was down 32% from the same period last year. Fundamentals continued to show resilience during the quarter. For public filers within the Morningstar LSTA US Leveraged Loan Index, 4Q25 earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 2.6% year over year, the 21st straight positive reading dating back to 4Q20. The Morningstar LSTA US Leveraged Loan Index default rate finished 1Q at 1.44%, compared with the historical average of 3%. Sources: LCD, an offering of S&P Global Market Intelligence, and S&P Structured Finance Group. Within the Fund For 1Q, Nomura Floating Rate Fund Institutional Class ( DDFLX ) shares outperformed the Fund's benchmark, the Morningstar LSTA US Leveraged Loan Index. Key contributors to performance included: An underweight to and security selection within the software and services sector An overweight to the utilities sector Security selection within the commercial and professional services sector Key detractors from performa...
Fluor press release ( FLR ): Q1 Non-GAAP EPS of $0.14 misses by $0.48 . Revenue of $3.6B (-9.5% Y/Y) misses by $290M . GAAP net earnings attributable to Fluor of $160 million Adjusted EBITDA of $60 million EPS of $1.08; adjusted EPS of $0.14 Consolidated segment profit of $8 million Cash and marketable securities at quarter end were $3.2 billion G&A expenses of $61 million, primarily driven by the...
Fluor press release ( FLR ): Q1 Non-GAAP EPS of $0.14 misses by $0.48 . Revenue of $3.6B (-9.5% Y/Y) misses by $290M . GAAP net earnings attributable to Fluor of $160 million Adjusted EBITDA of $60 million EPS of $1.08; adjusted EPS of $0.14 Consolidated segment profit of $8 million Cash and marketable securities at quarter end were $3.2 billion G&A expenses of $61 million, primarily driven by the impact of stock-based compensation Share repurchases of $516 million during the period; targeting $1.4 billion for 2026 More on Fluor Fluor Corporation Positioned For Robust Growth In 2026 Fluor: After Q4 Results, I See This Stock As Fully Valued Fluor Corporation (FLR) Q4 2025 Earnings Call Transcript Fluor Q1 2026 Earnings Preview Baird turns cautious on engineering firms ahead of earnings, downgrades Parsons
Sundry Photography/iStock Editorial via Getty Images Listen below or on the go via Apple Podcasts and Spotify Cloudflare ( NET ) to cut 1,100 jobs amid shift to agentic AI-first operating model. (00:13) Upwork ( UPWK ) announces 24% reduction in total workforce. (01:42) IREN jumps 7%, inks five-year $3.4B AI cloud deal with Nvidia ( NVDA ). (02:35) This is an abridged transcript. Cloudflare ( NET ...
Sundry Photography/iStock Editorial via Getty Images Listen below or on the go via Apple Podcasts and Spotify Cloudflare ( NET ) to cut 1,100 jobs amid shift to agentic AI-first operating model. (00:13) Upwork ( UPWK ) announces 24% reduction in total workforce. (01:42) IREN jumps 7%, inks five-year $3.4B AI cloud deal with Nvidia ( NVDA ). (02:35) This is an abridged transcript. Cloudflare ( NET ) is set to lay off more than 1,100 employees globally, or about 20% of its workforce. The company is ramping up its shift to an agentic AI-first operating model to boost efficiency and productivity. The announcement came as Cloudflare ( NET ) posted better-than-expected Q1 results, although its shares sank 19% after hours on Thursday and are down 16% in premarket action. "We are reimagining every internal process — from engineering to finance to sales — to run on an agentic AI backbone on our Workers platform," Cloudflare ( NET ) CEO Matthew Prince said in an earnings call. "This is not a cost-cutting exercise or an assessment of the individuals’ performance. It is about defining how a world-class, high-growth company operates and creates value in the agentic AI era," he added. In a blog post, Cloudflare ( NET ) noted that AI use across the company increased by more than 600% in the last three months. Prince also said, "AI and agents are no longer pilot projects at Cloudflare; they are now core parts of our workforce." The layoffs will result in severance and other restructuring charges of $140M-$150M in 2026, of which around $40M is non-cash, with the majority concentrated in Q2. Upwork ( UPWK ) is also reducing its workforce. On Thursday the company announced a restructuring plan, under which it will reduce the company’s total workforce by about 24%. Upwork ( UPWK ) estimates that it will incur between $16 million and $23 million in pre-tax charges in connection with the restructuring plan. The company expects most of these charges to be cash expenditures and to be reco...
The Board of Directors of Kvika banki hf. is set to approve the financial statements of the Group for the first quarter of 2026 at a board meeting on Tuesday 12 May. The financial statements will subsequently be published after the domestic market has closed.
The Board of Directors of Kvika banki hf. is set to approve the financial statements of the Group for the first quarter of 2026 at a board meeting on Tuesday 12 May. The financial statements will subsequently be published after the domestic market has closed.
Áætlað er að stjórn Kviku banka hf. samþykki árshlutareikning samstæðunnar fyrir fyrsta ársfjórðung ársins 2026 á stjórnarfundi þriðjudaginn 12. maí og verður hann birtur í kjölfarið, eftir lokun markaðar.
Áætlað er að stjórn Kviku banka hf. samþykki árshlutareikning samstæðunnar fyrir fyrsta ársfjórðung ársins 2026 á stjórnarfundi þriðjudaginn 12. maí og verður hann birtur í kjölfarið, eftir lokun markaðar.
Prime Minister Keir Starmer vowed on Friday to fight on to deliver on his promise to bring “change” to Britain after his Labour Party suffered heavy losses in local election that deepened doubts over his ability to govern. Just under two years after winning a landslide national election, Starmer saw voters punish his Labour government, dealing it a blow in some of its traditional strongholds in f...
Prime Minister Keir Starmer vowed on Friday to fight on to deliver on his promise to bring “change” to Britain after his Labour Party suffered heavy losses in local election that deepened doubts over his ability to govern. Just under two years after winning a landslide national election, Starmer saw voters punish his Labour government, dealing it a blow in some of its traditional strongholds in former industrial regions in central and northern England. The main beneficiary was the populist...
Ono Pharmaceutical press release ( OPHLF ): FY core profit attributable to owners of the company reached JPY 103.5B (+14.5% YoY), the highest level since the introduction of core indicators. Revenue increased to JPY 515.8B (+5.9% Y/Y). More on Ono Pharmaceutical Co., Ltd. Ono Pharmaceutical Co., Ltd. (OPHLY) Analyst/Investor Day - Slideshow Pfizer wins full FDA approval for Braftovi in colorectal ...
Ono Pharmaceutical press release ( OPHLF ): FY core profit attributable to owners of the company reached JPY 103.5B (+14.5% YoY), the highest level since the introduction of core indicators. Revenue increased to JPY 515.8B (+5.9% Y/Y). More on Ono Pharmaceutical Co., Ltd. Ono Pharmaceutical Co., Ltd. (OPHLY) Analyst/Investor Day - Slideshow Pfizer wins full FDA approval for Braftovi in colorectal cancer Historical earnings data for Ono Pharmaceutical Co., Ltd. Financial information for Ono Pharmaceutical Co., Ltd.
In a letter to US Trade Representative Jamieson Greer, the organisations said maintaining the agreement was critical to preserving integrated North American supply chains.
In a letter to US Trade Representative Jamieson Greer, the organisations said maintaining the agreement was critical to preserving integrated North American supply chains.
Demand for chemical products remains high, even though the blockade of the Strait of Hormuz has complicated supply chains, says Conrad Keijzer, CEO of Swiss chemicals company Clariant. He spoke on "The Pulse with Francine Lacqua" on Bloomberg TV. (Source: Bloomberg)
Demand for chemical products remains high, even though the blockade of the Strait of Hormuz has complicated supply chains, says Conrad Keijzer, CEO of Swiss chemicals company Clariant. He spoke on "The Pulse with Francine Lacqua" on Bloomberg TV. (Source: Bloomberg)
Earnings Call Insights: Skyward Specialty Insurance Group, Inc. (SKWD) Q1 2026 Management view "This quarter marks our first reporting at Skyward Group, inclusive of both the Skyward Specialty and Apollo segments," said CEO Andrew Robinson, adding, "Our results reflect an excellent start as a combined company." Robinson highlighted underwriting positioning as market conditions shift: "Our portfoli...
Earnings Call Insights: Skyward Specialty Insurance Group, Inc. (SKWD) Q1 2026 Management view "This quarter marks our first reporting at Skyward Group, inclusive of both the Skyward Specialty and Apollo segments," said CEO Andrew Robinson, adding, "Our results reflect an excellent start as a combined company." Robinson highlighted underwriting positioning as market conditions shift: "Our portfolio construction is genuinely unique amongst the P&C universe in that over 50% of the Skyward Group's business...is in markets less exposed to the P&C cycles," and said Apollo’s fee engine is "an important and new earnings growth driver." CFO Mark Haushill reported: "[W]e're reporting net income of $50 million and operating income of $57 million," and added, "Underwriting income totaled $52 million, and the combined ratio was 89.5, inclusive of 1.8 points of catastrophe losses." Haushill emphasized the fee stream: "Managed premiums totaled $968 million...including fee-generating premiums of $300 million, which increased 49%," and said, "In this quarter, we generated $10 million in underwriting fees." Robinson described new launches and partnerships: "This includes our proprietary insurance partnership for Uber's autonomous vehicle insurance program, the launch of our life sciences product using Lloyd's paper...and the 1/1 launch of Syndicate 1972." Outlook Haushill said, "You will recall that on December 3, we provided guidance for 2026, and that guidance is unchanged." On expense discipline with the Apollo mix, Haushill stated, "[W]e target...sub-30% is our watermark for the expense ratio," adding, "28.5 for the quarter...is right in line with what we guided." On the fee business trajectory, Haushill said, "I still believe the guidance holds," referring to "the guidance we gave you of $30 million to $35 million" (fee income). Financial results Haushill reported segment underwriting performance, saying Skyward Specialty "reported a combined ratio of 88.9 or 86.8 ex-cat" and A...