Solskin/DigitalVision via Getty Images Shares of Charles River Laboratories ( CRL ) have been a strong performer over the past year, gaining about 57%. A year ago, shares had been hammered by fears about the FDA banning animal testing, but while a headwind, the impact of this potential policy change is multiple years in nature rather than an imminent risk. We are also seeing some improvement in de...
Solskin/DigitalVision via Getty Images Shares of Charles River Laboratories ( CRL ) have been a strong performer over the past year, gaining about 57%. A year ago, shares had been hammered by fears about the FDA banning animal testing, but while a headwind, the impact of this potential policy change is multiple years in nature rather than an imminent risk. We are also seeing some improvement in demand, though client spending levels remain muted. I last covered Charles River in February , rating the stock a “ H old,” which has been too conservative with shares up 22% since then. With updated financials, now is a good time to revisit shares. Seeking Alpha In the company’s first quarter , Charles River Laboratories earned $2.06 per share, which was $0.12 better than expected , as revenue grew 1% to $996 million. In general, CRL sees a stabilized demand environment from its biopharma customers after a difficult 18-24 months. Large firms are still spending less than normal, but spending levels are better than a year ago. Smaller biotech firms are still facing pressure; these companies are dependent on VC funding and capital markets. With so much focus going into AI-related firms, the fundraising environment in biotech has been constrained. Government-supported spending is stable; while I expect muted growth here, declines are also unlikely. While revenue was up from last year, this was primarily due to currency benefits, and organic revenue declined by 1.5%, reflecting the muted spending environment. Margins compressed 280bps to 16.3%, partially due to lower revenue. Aside from this, there were one-time items (i.e., stock compensation was unusually high given the CEO transition), and I expect margins to improve sequentially through the year. Given weaker organic revenue and margin pressure, earnings were down 12% from last year. Drilling into segment results, RMS (research model and services) revenue declined by 5.5% organically to $208 million. Margins also compressed 2...
Aliaksandr Litviniuk/iStock Editorial via Getty Images Eni ( E ) said Thursday its Geliga-1 natural gas discovery in the Kutei Basin offshore Indonesia delivered " exceptional " test results, confirming outstanding reservoir productivity and supporting accelerated development options, just two weeks after formally reporting the find. Based on the results of a drill stem test, the Geliga‑1 well is...
Aliaksandr Litviniuk/iStock Editorial via Getty Images Eni ( E ) said Thursday its Geliga-1 natural gas discovery in the Kutei Basin offshore Indonesia delivered " exceptional " test results, confirming outstanding reservoir productivity and supporting accelerated development options, just two weeks after formally reporting the find. Based on the results of a drill stem test, the Geliga‑1 well is estimated to produce a sustainable rate of ~200M scf/day of gas and 10K bbl/day of condensate. The discovery is located next to the undeveloped Gula gas discovery, estimated at 2T cf of gas in place and 75M barrels of condensate, and early evaluations indicate that, when combined, Geliga and Gula could underpin incremental production of ~1B scf/day of gas and 80K bbl/day of condensate, the company said. Eni ( E ) said it is preparing a plan of development, which it expects to submit to the government of Indonesia in the coming weeks and aims to enable the fast‑track development of a third production hub in the prolific Kutei Basin. The discovery is located in the Ganal block and is operated by Eni ( E ) with an 82% interest, while China's Sinopec holds the remaining 18%. More on Eni Eni Q1 2026 Earnings Call Presentation Eni Returned Over 100% Since My Buy Call: Here Is How Much Upside Is Left Eni: Significant Strategic Progress In 2025
Boeing Shares Rise As CEO Set To Join Trump On China Trip, Fueling Aircraft Order Speculation Boeing shares rose in late-morning trading in New York after CNBC reported that CEO Kelly Ortberg will join President Trump on his trip to Beijing next week for talks with President Xi Jinping. Boeing shares climbed a little more than 2% on the news as traders began to price in the possibility of a Chines...
Boeing Shares Rise As CEO Set To Join Trump On China Trip, Fueling Aircraft Order Speculation Boeing shares rose in late-morning trading in New York after CNBC reported that CEO Kelly Ortberg will join President Trump on his trip to Beijing next week for talks with President Xi Jinping. Boeing shares climbed a little more than 2% on the news as traders began to price in the possibility of a Chinese aircraft order, potentially covering both narrow-body and wide-body jets from the U.S.-based aircraft manufacturer. Senator Steve Daines, who is leading the bipartisan delegation to China, has called for stability and peaceful cooperation between the U.S. and China. "I strongly believe that we want to de-escalate, not decouple. We want stability; we want mutual respect," Daines said in opening remarks at a meeting with Chinese Foreign Minister Wang Yi on Thursday, according to Reuters . Daines also released a statement: Readout of Daines' Congressional Delegation Trip to China U.S. Senators Steve Daines (R-MT), Maria Cantwell (D-WA), Jerry Moran (R-KS), and Deb Fischer (R-NE) today conducted three official meetings in Beijing with Premier of China Li Qiang, Chairman of the National People's Congress Zhao Leji, and Director of the Office of the Central Foreign Affairs Commission and Foreign Minister Wang Yi. The bipartisan delegation discussed the importance of direct and open communication between the leadership of the two countries as well as issues of international and local importance. Topics of discussion included cooperation to stop the flow of fentanyl precursors, Iran and the Strait of Hormuz, and supply chain security. The Senators discussed the importance of reciprocal trade and opening up China's markets to sustained agriculture trade across beef, wheat, pulse crops, potatoes, apples, cherries, soybeans, grain sorghum, seafood, and other industries. The delegation also discussed the importance of China's relationship with Boeing and the proposed aircraft purchas...
SpaceX, the aerospace and AI company founded by Elon Musk, filed for its IPO last month. It's expected to go public within the next few months, and it's reportedly seeking a whopping valuation of $1.75 trillion -- which would make it the world's largest IPO. Image source: Getty Images. Before SpaceX goes public, the only ways to invest in the company are through private secondary marketplaces for ...
SpaceX, the aerospace and AI company founded by Elon Musk, filed for its IPO last month. It's expected to go public within the next few months, and it's reportedly seeking a whopping valuation of $1.75 trillion -- which would make it the world's largest IPO. Image source: Getty Images. Before SpaceX goes public, the only ways to invest in the company are through private secondary marketplaces for accredited investors, or through specialized funds and ETFs -- such as the ERShares Private-Public Crossover ETF (NASDAQ: XOVR) or Destiny Tech100 ETF (NYSE: DXYZ) -- that are exposed to SpaceX through special purpose vehicles (SPVs). Continue reading
Shell has made $6.9bn in profits since the Iran war began, cashing in on soaring energy prices. The enormous profits have reignited calls for higher taxes on fossil fuel companies to fund support for those hardest hit by rising costs. Lucy Hough speaks to energy correspondent Jillian Ambrose. Continue reading...
Shell has made $6.9bn in profits since the Iran war began, cashing in on soaring energy prices. The enormous profits have reignited calls for higher taxes on fossil fuel companies to fund support for those hardest hit by rising costs. Lucy Hough speaks to energy correspondent Jillian Ambrose. Continue reading...
Hawkeye 360 Inc. soared 30% after the provider of satellite-based signals intelligence for US government agencies raised $416 million in a US initial public offering priced at the top of a marketed range. Shares of the Herndon, Virginia-based company opened at $33.80 each on Thursday in New York, versus its IPO price of $26 apiece. The offering of 16 million shares was marketed in a range of $24 t...
Hawkeye 360 Inc. soared 30% after the provider of satellite-based signals intelligence for US government agencies raised $416 million in a US initial public offering priced at the top of a marketed range. Shares of the Herndon, Virginia-based company opened at $33.80 each on Thursday in New York, versus its IPO price of $26 apiece. The offering of 16 million shares was marketed in a range of $24 to $26 each. The trading gives the company a market value of $3.1 billion, based on the outstanding shares listed in its filings. Read More: Surveillance Firm Hawkeye 360 Raises $416 Million in IPO Founded in 2015, Hawkeye 360 makes, owns and operates a constellation of more than 30 satellites that listen for radio signals from emitters such as radars, jammers and satellite phones and uses its own signal-processing algorithms to process classified data for the US government. Proceeds of the IPO are expected to be used to repay debt and help fund a deferred payment related to its December acquisition of Innovative Signal Analysis, a Dallas-based provider of signal-processing technology. The offering coincides with a burst of IPO activity in the defense technology sector as global conflicts drive up military spending. Arxis Inc. , a provider of electronic parts for aerospace and defense firms, surged 38% in the company’s trading debut after it raised $1.3 billion in an upsized IPO this month. Shares of military drone manufacturer Aevex Corp. climbed 35% in its first day following its $368 million IPO in April. “Given all the geopolitical volatility in the world, we consider ourselves an exemplar of defense technology done right in that we are profitable,” John Serafini , chief executive officer of Hawkeye 360, said in an interview. Hawkeye 360’s revenue jumped to $117.7 million in 2025, up from $67.6 million a year earlier, while net income rose to $48,000 from a net loss of $31.2 million, according to its regulatory filings. The exposure to rising defense budgets in Europe an...
Riyadh told White House it would deny access for operation to provide tankers military escort through strait of Hormuz Middle East crisis – live updates A refusal by Saudi Arabia to allow the US to use its bases and airspace to provide a military escort for oil tankers passing through the strait of Hormuz lay behind Donald Trump’s decision to shelve the plan days after it had been launched. Riyadh...
Riyadh told White House it would deny access for operation to provide tankers military escort through strait of Hormuz Middle East crisis – live updates A refusal by Saudi Arabia to allow the US to use its bases and airspace to provide a military escort for oil tankers passing through the strait of Hormuz lay behind Donald Trump’s decision to shelve the plan days after it had been launched. Riyadh told the White House it would not allow its Prince Sultan airbase to be used to mount the operation billed as Project Freedom, which the US presented as the successor to the bombing campaign called Operation Epic Fury. Continue reading...
Light & Wonder ( LNWO ): Q1 GAAP EPS of $0.66 misses by $0.45 . Gaming revenue increased 3% year-over-year to $512 million, driven by Gaming operations revenue, which increased 38% to $239 million and Table Products, which increased 24% to $63 million. Gaming machine sales revenue decreased 25%, primarily reflecting the timing of international and North America Video Lottery Terminal shipments in ...
Light & Wonder ( LNWO ): Q1 GAAP EPS of $0.66 misses by $0.45 . Gaming revenue increased 3% year-over-year to $512 million, driven by Gaming operations revenue, which increased 38% to $239 million and Table Products, which increased 24% to $63 million. Gaming machine sales revenue decreased 25%, primarily reflecting the timing of international and North America Video Lottery Terminal shipments in the prior year period, while average selling price per unit remained resilient at around $19,700. More on Light & Wonder Light & Wonder, Inc. (LNWO) Q1 2026 Earnings Call Transcript Light & Wonder, Inc. 2026 Q1 - Results - Earnings Call Presentation Light & Wonder, Inc. (LNWO) Q4 2025 Earnings Call Transcript Light & Wonder forecasts mid- to high single-digit 2026 AEBITDA growth amid $40M tariff and U.K. tax headwinds Seeking Alpha’s Quant Rating on Light & Wonder
Candidates from across the spectrum report abuse and harassment online and in person in lead-up to local and devolved elections UK politics live – latest updates Candidates and political parties have described a climate of abuse in this year’s local and devolved elections including death threats and intimidation while campaigning. Elections are taking place across councils in England and governmen...
Candidates from across the spectrum report abuse and harassment online and in person in lead-up to local and devolved elections UK politics live – latest updates Candidates and political parties have described a climate of abuse in this year’s local and devolved elections including death threats and intimidation while campaigning. Elections are taking place across councils in England and governments in Scotland and Wales on Thursday, with millions expected to vote. Continue reading...
Douglas Rissing The synchronized global easing cycle is showing growing signs of fracturing as the Iran conflict keeps energy prices elevated and inflation risk firmly in play. Charlie Bilello, chief market strategist at Creative Planning, flagged Norway ( ENOR ) as the latest example, after Norges Bank on Thursday raised its policy rate by 25 basis points to 4.25%, its first hike since 2023. Norg...
Douglas Rissing The synchronized global easing cycle is showing growing signs of fracturing as the Iran conflict keeps energy prices elevated and inflation risk firmly in play. Charlie Bilello, chief market strategist at Creative Planning, flagged Norway ( ENOR ) as the latest example, after Norges Bank on Thursday raised its policy rate by 25 basis points to 4.25%, its first hike since 2023. Norges Bank cited above-target inflation and warned that higher oil ( USO ) ( BNO ) and gas ( UNG ) ( BOIL ) prices stemming from the Middle East war could push price growth even higher. The move reflects a broader shift in the policy landscape. While several major economies have eased rates over the past year, recent data shows renewed hikes in Australia ( EWA ), Japan ( EWJ ), Taiwan ( EWT ) and Colombia ( COLO ), disrupting what had appeared to be a coordinated march toward lower rates. The oil shock is reshaping the debate for central bankers everywhere. The U.S. Federal Reserve has not joined the hiking camp, but outgoing chair Jerome Powell has said officials are still assessing whether the Iran war-energy shock can be treated as temporary. The Fed held rates steady last week at a 3.5%-3.75% target range as short- and long-term inflation expectations both climb. Norway’s hike adds to concerns the U.S.'s “higher for longer” narrative is becoming a global policy risk once again as global borrowing costs surge. Charlie Bilello More on iShares MSCI Norway ETF, iShares MSCI Australia ETF, etc. EWJ: The Land Of The Rising Sun Is Set For Continued Growth ENOR: Unsurprising Beneficiary Of The Iran War COLO: Addressing Headwinds And Outperformance Potential Australia logs first trade deficit in over 8 years, export dip and import spike Asia markets surge, Japan hits records on Middle East peace hopes and tech gains
Earnings Call Insights: Shift4 Payments (FOUR) Q1 2026 Management View "We performed in line with our previously provided guidance" and delivered "32% year-over-year growth in gross revenues" and "49% year-over-year growth in gross revenue less network fees" despite "unforeseen events in the Middle East" (Chairman of the Board, President & CEO David Lauber). "Our full year '26 guidance remains unc...
Earnings Call Insights: Shift4 Payments (FOUR) Q1 2026 Management View "We performed in line with our previously provided guidance" and delivered "32% year-over-year growth in gross revenues" and "49% year-over-year growth in gross revenue less network fees" despite "unforeseen events in the Middle East" (Chairman of the Board, President & CEO David Lauber). "Our full year '26 guidance remains unchanged, calling for 26% to 31% gross revenue less network fee growth" and management said it is "not forecasting a dramatic recovery in the back half of the year" on same-store sales (President & CEO Lauber). "Shift4 One is in 7 countries, and we are on track to be in 15 with this product by the end of the year" and management described the addressable base as "over 70,000 SMB merchants that are prospective customers on this new product" (President & CEO Lauber). "We are rebranding SkyTab to Shift4 Dine" and CEO Lauber said the rationale is: "We have a much larger and more powerful brand in Shift4, and this is simply our Dine product" (President & CEO Lauber). "The overall integration of Global Blue is on track, and we announced several Global Blue employees to key management roles during the quarter" (President & CEO Lauber). "Gross revenue less network fees, or GRLNF, of $549 million grew 49% year-over-year" and "adjusted EBITDA of $234 million" delivered "a 43% margin" (Chief Financial Officer Christopher Cruz). Outlook "For the second quarter of 2026, we are introducing guidance" of "GRLNF of $615 million" (including "an approximate $20 million impact from travel disruption due to the Middle East conflict"), "adjusted EBITDA of $278 million" and "$10 million of adjusted free cash flow" (CFO Cruz). "For the full year, we are leaving our guidance unchanged" and CFO Cruz said this "is meant to express the wider volatility of outcomes we are seeing even with part of the year complete" (CFO Cruz). On travel disruption sensitivity, CFO Cruz said: "we are not attempting to for...
Earnings Call Insights: Ingevity (NGVT) Q1 2026 Management View "This quarter marked another strong period of execution and results for our company," said (President, CEO & Director David Li), highlighting portfolio actions: "we were pleased to complete the sale of the Ozark Materials, Road Markings product line, on April 15 to PPG in an all-cash transaction valued at approximately $65 million" an...
Earnings Call Insights: Ingevity (NGVT) Q1 2026 Management View "This quarter marked another strong period of execution and results for our company," said (President, CEO & Director David Li), highlighting portfolio actions: "we were pleased to complete the sale of the Ozark Materials, Road Markings product line, on April 15 to PPG in an all-cash transaction valued at approximately $65 million" and noting the earlier divestiture "for approximately $93 million of net proceeds," adding that "the ongoing sales process for our APT business underscores our commitment to simplifying this portfolio, sharpening our strategic focus and reducing earnings volatility." (CEO Li) tied Q1 performance to profitability and capital returns: "we achieved 4% sales growth and an industry-leading EBITDA margin approaching 36%," and said this "enabled us to repurchase approximately $52 million of shares in the quarter ahead of plan." He also said Performance Materials benefited from "price increases" and "a continued shift in consumer preference from battery electric vehicles towards hybrids," while the company is "actively investing to expand into filtration" with early traction: "we already have a presence in food and beverage, medical and pharma and consumer applications." (Senior VP & CFO Phillip Platt) framed the quarter’s financial mix and notable items: "Sales grew 4% to $258 million," and "we recorded a GAAP net income of $23.4 million, which included approximately $23 million of pretax special charges, $16 million of which related to the final litigation settlement payment to BASF." On an adjusted basis, he said "adjusted gross profit of $132 million" produced "gross margin of 51%," while "adjusted EBITDA of $92 million" led to "adjusted EBITDA margin" of "35.5%." (CFO Platt) also emphasized capital allocation and leverage: "We accelerated our share repurchases in the first quarter beyond the ratable cadence we had planned, deploying $52 million to repurchase approximately 775,00...
Bill Oxford iRhythm Holdings (IRTM) traded higher on Thursday after the Centers for Disease Control and Prevention issued a finalized local coverage determination related to cardiac monitoring devices, which include the company’s Zio ECG monitoring system. The LCD from Noridian, one of three Medicare Administrative Contractors that process Medicare fee-for-service claims, was a positive for the co...
Bill Oxford iRhythm Holdings (IRTM) traded higher on Thursday after the Centers for Disease Control and Prevention issued a finalized local coverage determination related to cardiac monitoring devices, which include the company’s Zio ECG monitoring system. The LCD from Noridian, one of three Medicare Administrative Contractors that process Medicare fee-for-service claims, was a positive for the company, argued BTIG analyst Marie Thibault in a research note. According to Thibault, there was confusion when Medicare issued proposed LCDs last fall, applying requirements for mobile cardiac telemetry for what appeared to be coverage proposals for ambulatory cardiac monitoring. The finalized LCD that is set to take effect on June 21 “has clarified language to accurately reflect the various device class capabilities and FDA indications,” the analyst wrote with a Buy recommendation and a $185 per share target on iRhythm (IRTM). “We are flagging this update and view it as a positive for IRTC because even though most investors expected the revision to clarify the confusion, having it in hand eliminates any uncertainty,” she added. The analyst expects the other two MACs, Palmetto and CGS, to follow suit, as they were also included in the open comment period. More on iRhythm Technologies iRhythm Holdings, Inc. 2026 Q1 - Results - Earnings Call Presentation iRhythm Holdings, Inc. (IRTC) Q1 2026 Earnings Call Transcript iRhythm Holdings, Inc. (IRTC) Q4 2025 Earnings Call Transcript IRhythm forecasts 2026 revenue of $875M-$885M while targeting 12%-13% adjusted EBITDA margin iRhythm Technologies GAAP EPS of -$0.43 beats by $0.28, revenue of $199.4M beats by $5.31M