Surf Air Mobility NYSE: SRFM used its fourth-quarter and full-year 2025 earnings call to outline a shift from a multi-year stabilization effort to a growth-focused strategy in 2026, anchored by improving operating performance, a larger role for its on-demand charter segment, and a planned commercial rollout of its SurfOS software platform. Get Surf Air Mobility alerts: Sign Up Management says comp...
Surf Air Mobility NYSE: SRFM used its fourth-quarter and full-year 2025 earnings call to outline a shift from a multi-year stabilization effort to a growth-focused strategy in 2026, anchored by improving operating performance, a larger role for its on-demand charter segment, and a planned commercial rollout of its SurfOS software platform. Get Surf Air Mobility alerts: Sign Up Management says company is “pivoting to growth” in 2026 Chief Executive Officer Deanna White said the company entered 2025 “transforming…financially, operationally, and strategically,” with priorities centered on strengthening airline reliability and profitability, recalibrating its on-demand charter business, and developing SurfOS software. White said the company has now met or exceeded revenue and Adjusted EBITDA guidance for eight consecutive quarters. Looking ahead, White said Surf Air Mobility increased its 2026 revenue guidance to reflect 20% to 30% growth versus the prior year, emphasizing that the guidance does not include early-stage electric aircraft deployment. She said the company expects its recently announced partnership with BETA Technologies to contribute to revenue growth and operating efficiencies in 2027, while also noting that subsequent remarks indicated the BETA order could enable deployment ahead of a previously expected 2027 timeline, subject to certification. White also highlighted capital structure actions taken in 2025, including raising over $100 million in equity, which she said reduced overall cost of capital and lowered net debt, providing flexibility to pursue growth initiatives. Fourth-quarter results: lower scheduled revenue, higher charter revenue Chief Financial Officer Oliver Reeves said fourth-quarter 2025 revenue was $26.4 million, within guidance of $25.5 million to $27.5 million. Reeves attributed the sequential decline from the third quarter (down 9%) to a 16% decrease in scheduled service revenue tied to exiting unprofitable routes, partially offset b...
Donny DBM/iStock via Getty Images Market Review US large cap equities (S& am p;P 500 Index) rose 2.66% in the fourth quarter of 2025. Sector performance was generally positive, led by Health Care and Com munication Services, while Real Estate and Utilities were the only notable laggards. Monetary policy remained a key macro driver, as the Federal Reserve delivered two additional 25 basis point rat...
Donny DBM/iStock via Getty Images Market Review US large cap equities (S& am p;P 500 Index) rose 2.66% in the fourth quarter of 2025. Sector performance was generally positive, led by Health Care and Com munication Services, while Real Estate and Utilities were the only notable laggards. Monetary policy remained a key macro driver, as the Federal Reserve delivered two additional 25 basis point rate cuts in October and December following the initial September cut, reinforcing a more accommodative policy stance. Market sentiment was intermittently challenged by late-year volatility tied to macro data, earnings revisions, and ongoing geopolitical and trade policy uncertainties. Performance Review The Goldman Sachs U.S. Equity Insights Fund (I-share, net) returned 3.08% in the fourth quarter, outperforming its benchmark, the S&P 500 Index, by 42 bps. Returns were driven primarily by stock selection, with contributions varying across pillars and sectors as market leadership rotated toward value and cyclicals. Our Sentiment Analysis pillar was the largest contributor to excess returns during the quarter, driven by notable positive contributions in October and December. Signals designed to capture investor sentiment and short interest performed well after guiding additive overweight positioning in in Aerospace and Defense and Passenger Airlines names within the Industrials sector. Improved sentiment towards these industries was driven by a widespread rotation towards cyclicals amid easing financial conditions. Our Themes & Trends investment pillar also contributed positively over the quarter. Performance was driven by our suite of signals gauging cross-stock economic linkages, with strength concentrated in areas benefiting from cyclical recovery dynamics and improving demand trends. Industry-level positioning within travel-related segments contributed during December, as demand indicators strengthened toward year-end. The High-Quality Business Models pillar modestly added ...
Cambricon swings to profit Cambricon Technologies Corp. Ltd. reported a net profit of 2.1 billion yuan ($306 million) for 2025, rebounding from a net loss of 452 million yuan in 2024, according to its annual report released Thursday. Revenue surged 453.2% year-on-year to 6.5 billion yuan. The artificial intelligence chipmaker plans to distribute a cash dividend of 15 yuan per 10 shares and issue 4...
Cambricon swings to profit Cambricon Technologies Corp. Ltd. reported a net profit of 2.1 billion yuan ($306 million) for 2025, rebounding from a net loss of 452 million yuan in 2024, according to its annual report released Thursday. Revenue surged 453.2% year-on-year to 6.5 billion yuan. The artificial intelligence chipmaker plans to distribute a cash dividend of 15 yuan per 10 shares and issue 4.9 additional shares for every 10 shares held by shareholders, using its capital reserve.
China has become the first country to mass produce the strongest carbon fibre, which has wide applications for defence industries such as aerospace, drones and robots, state broadcaster CCTV’s military channel reported on Wednesday. The domestically developed T1200-grade fibre has a tensile strength 10 times greater than ordinary steel, yet it is less than one-tenth of a human hair in diameter, ac...
China has become the first country to mass produce the strongest carbon fibre, which has wide applications for defence industries such as aerospace, drones and robots, state broadcaster CCTV’s military channel reported on Wednesday. The domestically developed T1200-grade fibre has a tensile strength 10 times greater than ordinary steel, yet it is less than one-tenth of a human hair in diameter, according to the state broadcaster. Mass production of the ultra-strength fibre at a projected output capacity of about 100 tonnes a year could put China ahead of established market leaders, such as Japan’s Toray Industries, which announced in late 2023 it had developed T1200-grade carbon fibre, but it has not revealed its production capacity. CCTV’s military channel says the carbon-fibre rope could tow a coach loaded with 54 adults. Photo: CCTV In the United States, Toray produces grades T1100 and T800 carbon fibre, which are used for projects requiring extra stiffness and strength, as well as T700 for general-purpose applications. The South China Morning Post has contacted Toray for comment. Advertisement Using 120,000 carbon-fibre filaments twisted together, the carbon-fibre rope has a diameter of under 2mm when taut. It is strong enough to tow a coach loaded with 54 adults, according to CCTV. Its developer, the state-owned China National Building Material Group (CNBM), unveiled it at the leading composite materials trade show JEC World in Paris on Wednesday, adding that it could be mass-produced at the hundred-tonne level. Advertisement Company chairman Zhou Yuxian said the ultra-high strength carbon fibre with an engineering tensile strength exceeding 8 gigapascals (GPa) was the world’s first T1200-grade carbon-fibre product to achieve mass production, after two decades of local research and development. “Carbon fibre, hailed as ‘black gold’, is a crucial element in ensuring the security of industrial and supply chains, and serving economic and social development,” he sa...
kyoshino/E+ via Getty Images 8:30 AM Durable Goods Orders Durable goods orders are new orders placed with domestic manufacturers for factory hard goods. Orders are expected to be up 0.5 percent after falling 1.4 percent on weak aircraft orders a month earlier. 8:30 AM GDP Gross Domestic Product represents the total value of the country's production during the period and consists of the purchases o...
kyoshino/E+ via Getty Images 8:30 AM Durable Goods Orders Durable goods orders are new orders placed with domestic manufacturers for factory hard goods. Orders are expected to be up 0.5 percent after falling 1.4 percent on weak aircraft orders a month earlier. 8:30 AM GDP Gross Domestic Product represents the total value of the country's production during the period and consists of the purchases of domestically produced goods and services by individuals, businesses, foreigners, and government entities. The consensus sees no revision from a growth rate of 1.4 percent in the previous report. 8:30 AM Personal Income and Outlays Personal income represents the income that households receive from all sources, including wages and salaries, fringe benefits such as employer contributions to private pension plans, proprietors' income, income from rent, dividends and interest, and transfer payments such as Social Security and unemployment compensation. Income is expected to outpace spending, with income up 0.5 percent and spending up 0.3 percent on the month. 10:00 AM Consumer Sentiment The University of Michigan's Consumer Survey Center questions households each month on their assessment of current conditions and expectations of future conditions. Forecasters expect sentiment to be nearly unchanged at a relatively gloomy 56.2 in the initial March report versus 56.6 in the final for February. 10:00 AM JOLTS The Labor Department's JOLTS report tracks monthly change in job openings and offers rates on hiring and quits. The consensus sees job openings back up at 6.750 million in the delayed January report after a surprise drop to 6.542 million in December. 1:00 PM Baker Hughes Rig Count The Baker Hughes North American rig count tracks weekly changes in the number of active operating oil & gas rigs. More on U.S. Markets How Might Stocks React After The FOMC's March 2026 Rate Decision? The War May End Soon, But The Fed's Battle Is Only Beginning Gauging The Mideast Supply Shock Gol...
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