Nadzeya Haroshka/iStock via Getty Images Overview My last look at Iovance Biotherapeutics, Inc. ( IOVA ), was last November. This is a company I’ve followed since 2018. Despite the promise of AMTAGVI (lifileucel) in unresectable or metastatic melanoma, I’ve become increasingly cautious in IOVA due to high costs and complex manufacturing. Seeking Alpha Following its Q3 2025 earnings report, I thoug...
Nadzeya Haroshka/iStock via Getty Images Overview My last look at Iovance Biotherapeutics, Inc. ( IOVA ), was last November. This is a company I’ve followed since 2018. Despite the promise of AMTAGVI (lifileucel) in unresectable or metastatic melanoma, I’ve become increasingly cautious in IOVA due to high costs and complex manufacturing. Seeking Alpha Following its Q3 2025 earnings report, I thought the company was still in a “show me” phase. I was particularly interested in Q3 revenue—which came in at $68 million—and gross margin—which improved to 43% (excluding D&A). I wanted to see “two consecutive quarters of ≥$75-$85 million revenue and ≥35% gross margin excluding D&A” before becoming bullish on its stock. On Tuesday, Iovance released its Q4/FY25 results , prompting me to take another look. Earnings Iovance’s Q4 results do show continued improvement. Q4 revenue was ~$87 million—$65 million from AMTAGVI and $22 million from PROLEUKIN. Gross margin, excluding D&A, bumped up to 50%. Iovance ended the year with $303 million in cash—which is expected to fund operations “into the third quarter of 2027.” Iovance did not cite a 2026 guide but plans to provide one " in the very near future ." Operationally, manufacturing turnaround improved to 32 days or less—which is pretty close to my one-month target. This is an important metric, as AMTAGVI’s target population is quite sick and doesn’t have long to wait. According to management, while Q4 featured typical stocking patterns—related to PROLEUKIN—total revenue was driven by actual demand for AMTAGVI. Iovance is pushing for earlier-line use, but this is probably going to be met with a lot of pushback given manufacturing and administration complexities. PROLEUKIN remains a steady contributor whose performance is directly tied to AMTAGIV’s. Recall that PROLEUKIN is given during the AMTAGVI administration process. But, make no mistake about it, Iovance’s prospects fall squarely on AMTAGVI’s performance. AMTAGVI Model When mo...
Century secures win against Pakistan in T20 World Cup Brook: ‘It’s nice to see some rewards for my hard work’ Sometimes Harry Brook makes everything look easy but some of his recent experiences have been anything but painless, and after scoring a sublime century to steer his team into the World Cup semi-finals England’s white-ball captain described his past few months as “probably the hardest of m...
Century secures win against Pakistan in T20 World Cup Brook: ‘It’s nice to see some rewards for my hard work’ Sometimes Harry Brook makes everything look easy but some of his recent experiences have been anything but painless, and after scoring a sublime century to steer his team into the World Cup semi-finals England’s white-ball captain described his past few months as “probably the hardest of my life”. Brook endured a disappointing Ashes, scoring just two half-centuries and averaging 39.77, his second-worst in a Test series in which he has played more than a single innings. It was towards the end of his time in Australia that it was revealed he had got in to a drunken altercation with a nightclub bouncer in Wellington on the eve of the final fixture of his first overseas tour as an international captain, a controversy which has dogged him since. Continue reading...
The rapper, who also serves as the official "hype man" for multiple U.S. Olympic teams, invited the female hockey players to Las Vegas for a "real celebration." (Image credit: Andrew Milligan)
The rapper, who also serves as the official "hype man" for multiple U.S. Olympic teams, invited the female hockey players to Las Vegas for a "real celebration." (Image credit: Andrew Milligan)
Shares of natural gas-focused midstream company Oneok (NYSE: OKE) fell on Tuesday, falling as much as 7% before recovering to a 4.9% decline as of 3:09 p.m. EDT. Oneok reported earnings last night, and while the company actually beat Wall Street's expectations for the fourth quarter, its 2026 guidance left investors wanting. In the fourth quarter, Oneok reported revenue of $9.07 billion and adjust...
Shares of natural gas-focused midstream company Oneok (NYSE: OKE) fell on Tuesday, falling as much as 7% before recovering to a 4.9% decline as of 3:09 p.m. EDT. Oneok reported earnings last night, and while the company actually beat Wall Street's expectations for the fourth quarter, its 2026 guidance left investors wanting. In the fourth quarter, Oneok reported revenue of $9.07 billion and adjusted ( non-GAAP ) earnings per share of $1.55. While the adjusted EPS figure actually declined slightly in the year-ago quarter, the decline was partly due to adverse winter weather that caused plant delays. Both of those numbers beat analyst expectations. Continue reading
SambaNova Systems said on Tuesday it has raised $350 million in a new funding round and struck a partnership with Intel as it seeks to capitalise on surging demand for inference chips used in artificial intelligence applications. Inference chips, which run AI models and power real-time decisions, have attracted intense investor interest following a wave of dealmaking around rivals to Nvidia, as...
SambaNova Systems said on Tuesday it has raised $350 million in a new funding round and struck a partnership with Intel as it seeks to capitalise on surging demand for inference chips used in artificial intelligence applications. Inference chips, which run AI models and power real-time decisions, have attracted intense investor interest following a wave of dealmaking around rivals to Nvidia, as AI companies seek faster and more efficient hardware. Private equity firm Vista Equity Partners and Cambium Capital led the round, which also included Intel's investment arm, Intel Capital, SambaNova said on Tuesday, confirming a Reuters exclusive reported earlier this month.
Sammy Azdoufal alerted New York-based outlet the Verge after he took control of DJI Romo devices around the world A Spanish software engineer reportedly contacted a New York -based tech outlet recently to reveal he had remotely taken control of about 7,000 vacuums worldwide , in the process shedding light on a broad vulnerability with smart products, according to a cybersecurity expert. The Verge ...
Sammy Azdoufal alerted New York-based outlet the Verge after he took control of DJI Romo devices around the world A Spanish software engineer reportedly contacted a New York -based tech outlet recently to reveal he had remotely taken control of about 7,000 vacuums worldwide , in the process shedding light on a broad vulnerability with smart products, according to a cybersecurity expert. The Verge reported that the situation came to light when Sammy Azdoufal was trying to reverse-engineer his new DJI Romo vacuum so that he could control it with his Playstation 5 gamepad. Continue reading...
Apple’s smallest and most affordable desktop computer will soon be produced in the U.S., a step toward fulfilling the company’s investing commitment. Apple confirmed in an announcement on Tuesday that it will be expanding factory operations in Houston. This includes bringing the production of the Mac Mini to the factory and expanding advanced artificial intelligence server manufacturing.
Apple’s smallest and most affordable desktop computer will soon be produced in the U.S., a step toward fulfilling the company’s investing commitment. Apple confirmed in an announcement on Tuesday that it will be expanding factory operations in Houston. This includes bringing the production of the Mac Mini to the factory and expanding advanced artificial intelligence server manufacturing.
Aehr Test Systems (NASDAQ: AEHR) stock surged higher by more than 14% as of 2:25 p.m. today. If you are wondering why the stock has performed so well recently (up 94% in 2026, as I write), it largely comes down to growing optimism (backed by evidence) that the company will fulfill the potential outlined in its earnings presentation in early January. The company makes semiconductor test and burn-in...
Aehr Test Systems (NASDAQ: AEHR) stock surged higher by more than 14% as of 2:25 p.m. today. If you are wondering why the stock has performed so well recently (up 94% in 2026, as I write), it largely comes down to growing optimism (backed by evidence) that the company will fulfill the potential outlined in its earnings presentation in early January. The company makes semiconductor test and burn-in solutions that semiconductor manufacturers rely on to ensure the quality, consistency, and reliability of their production. Its former core market was in Silicon Carbide (SiC) chips, whose main end market is electric vehicles (EVs). That market boomed with the rush to invest in EVs a few years ago, but has slowed as automakers have reset their expectations in a lower-than-expected growth environment for EVs. Image source: Getty Images. Continue reading
Earnings Call Insights: Shoals Technologies Group, Inc. (SHLS) Q4 2025 Management View CEO Brandon Moss highlighted fourth quarter revenue of approximately $148 million, representing a 38.6% increase over the prior year period, and a company record for backlog and awarded orders (BLAO) at approximately $748 million, up 18% year-over-year. Moss stated, "Our commercial team also drove significant gr...
Earnings Call Insights: Shoals Technologies Group, Inc. (SHLS) Q4 2025 Management View CEO Brandon Moss highlighted fourth quarter revenue of approximately $148 million, representing a 38.6% increase over the prior year period, and a company record for backlog and awarded orders (BLAO) at approximately $748 million, up 18% year-over-year. Moss stated, "Our commercial team also drove significant growth in our book of business, adding approximately $175 million in new orders in the period. This resulted in a company record backlog and awarded orders or BLAO, of approximately $748 million, an 18% year-over-year increase." Moss outlined continued diversification through growth in international, community, commercial & industrial (CC&I), OEM, and BESS business lines, noting, "International revenue expanded from less than $1 million in 2024 to approximately $13 million in 2025. Our CC&I and OEM businesses exceeded expectations, and we've laid the foundation for our BESS business that is poised for rapid growth in 2026." Moss cited multiple new product introductions and the opening of a consolidated state-of-the-art manufacturing facility as key operational changes, and referenced a new partnership with ON.energy for data center solutions. "Together, we will address a fast emerging constraint for AI-driven infrastructure, securing resilient backup power at scale while enabling data centers to operate as grid interactive and firming assets," Moss said. CFO Dominic Bardos reported that gross profit was $46.9 million compared to $40.2 million in the prior year period, with a gross profit percentage of 31.6%. Bardos stated, "We estimate that fourth quarter gross profit dollars were impacted by $2.1 million of incremental tariffs and logistics costs, $2.5 million of additional labor to support new products, packaging and delivery requirements and $0.5 million of additional plant overhead expenses." Outlook For Q1 2026, Shoals expects revenue in the range of $125 million to $135...
Earnings Call Insights: Harmony Biosciences Holdings, Inc. (HRMY) Q4 2025 Management View CEO Jeffrey Dayno highlighted strong performance, reporting, “In Q4, we delivered $243.8 million in net product revenue, up from $201.3 million in the same period last year, driven by continued strong demand for WAKIX.” He noted, “Q4 '25 marked the third consecutive quarter with approximately 400-plus average...
Earnings Call Insights: Harmony Biosciences Holdings, Inc. (HRMY) Q4 2025 Management View CEO Jeffrey Dayno highlighted strong performance, reporting, “In Q4, we delivered $243.8 million in net product revenue, up from $201.3 million in the same period last year, driven by continued strong demand for WAKIX.” He noted, “Q4 '25 marked the third consecutive quarter with approximately 400-plus average patient adds, the first time in franchise history,” and emphasized the ongoing opportunity in the narcolepsy market. Dayno stated, “For full year 2025, WAKIX generated $868.5 million in net product revenue, representing strong year-over-year growth and extending to 6 consecutive years of revenue growth and profitability.” He added, “We are guiding WAKIX' net revenue to blockbuster status of $1 billion to $1.04 billion for the first time in franchise history.” On intellectual property, Dayno said, “We recently settled with 3 generic filers, resulting in us having settled with 6 of the 7 ANDA filers. Based on these settlements, generic entry would occur no sooner than March of 2030 if we are granted pediatric exclusivity.” The company is advancing “the next generation pitolisant franchise,” with pitolisant GR targeting NDA submission in Q2 2026 for a Q1 2027 PDUFA date, and pitolisant HD positioned for top line data in 2027. Dayno also outlined a new formulation aimed at broader CNS indications, supported by newly licensed IP until 2042. CCO Adam Zaeske explained, “In Q4 of 2025, WAKIX continued its remarkable trajectory with the third consecutive quarter of approximately 400 or more average patient adds... What's driving this performance is clear. WAKIX maintains a unique, highly differentiated position as the only non-scheduled treatment option.” Zaeske noted an expansion of field-based teams by almost 20% and the launch of a new online portal to improve patient access. CFO Sandip Kapadia reported, “We finished the year with great momentum across the business, delivering s...
In this article NVO LLY Follow your favorite stocks CREATE FREE ACCOUNT The logo of pharmaceutical company Novo Nordisk is displayed in front of its offices in Bagsvaerd, Copenhagen, Denmark, February 4, 2026. Tom Little | Reuters A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive...
In this article NVO LLY Follow your favorite stocks CREATE FREE ACCOUNT The logo of pharmaceutical company Novo Nordisk is displayed in front of its offices in Bagsvaerd, Copenhagen, Denmark, February 4, 2026. Tom Little | Reuters A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions. Novo Nordisk isn't catching a break this year. Shares of the Danish drugmaker plummeted on Monday after it released data showing that its next-generation obesity drug failed to match the weight loss of Eli Lilly 's Zepbound in a phase three trial. The results showed that Novo's drug, CagriSema, promoted slightly less weight loss than Zepbound at 84 weeks in the study — a difference that puts the sales potential of the experimental treatment into question. Analysts all raise the same point: Why would patients or doctors choose Novo's drug over a more effective and widely-known choice like Zepbound? "We struggle to identify a reason why a patient would be prescribed CagriSema" instead of Zepbound if the product comes to market, said BMO analyst Evan Seigerman in a Monday note. In a separate note on Monday, JPMorgan analyst Chris Schott said the results "will make it difficult for the product to gain [market] share" from Lilly. If anything, it confirms Zepbound as a "clear market leader" and positions Lilly to gain even more market share, he added. Still, Novo isn't giving up on the product. It's too late anyway: the company already filed for Food and Drug Administration approval of CagriSema, with a decision expected in late 2026. That means that the drug could launch by the end of the year or early 2027. "To say it's obsolete is quite belittling a fantastic drug, in all honesty," Novo's CEO Mike Doustdar told analysts on Monday, brushing off concerns about CagriSema's commercial potential. He said he believes the drug has better weight loss efficacy than an...
Welcome to The Brink . It’s Neil Callanan in London and Olivia Fishlow in New York, where we’ve been looking at short sellers ramping up bets against Blue Owl. We also have news on Aston Martin, Saks and Ineos. Follow this link to subscribe . Send us feedback and tips at debtnews@bloomberg.net . Software Lending Pioneer Blue Owl built its name over the past decade by spearheading direct lending an...
Welcome to The Brink . It’s Neil Callanan in London and Olivia Fishlow in New York, where we’ve been looking at short sellers ramping up bets against Blue Owl. We also have news on Aston Martin, Saks and Ineos. Follow this link to subscribe . Send us feedback and tips at debtnews@bloomberg.net . Software Lending Pioneer Blue Owl built its name over the past decade by spearheading direct lending and extending billions of dollars to finance private equity acquisitions of software companies. That strategy is now drawing scrutiny from short sellers. The New York-based asset manager has lost nearly 30% of its market value this year as investors question the impact of AI on the software industry. After declining in January, bets against the stock price of the private credit fund stood at 12.3% of the free float on Thursday, a day after Blue Owl halted redemptions at retail-focused fund OBDC II, according to S&P Global Market Intelligence . That’s up from 3.8% a year earlier, the data show. A bond issued by its technology-focused vehicle due April 2029, currently trading above par, is among the most shorted corporate bonds globally, according to a separate S&P Global Market Intelligence report. Opportunistic investors are also on alert. Boaz Weinstein ’s Saba Capital, which is long Blue Owl’s stock , and Cox Capital Partners last week offered to buy shares in its business development companies at a discount of as much as 35% to the most recent net asset value and dividend reinvestment price. Read more: Blue Owl Anxiety Rattles $1.8 Trillion Private Credit Market For research analysts at Bank of America , however, it’s now time to buy Blue Owl’s equity. “There’s a significant level of misinformation weighing on OWL and the private credit industry which has led to a particularly attractive buying opportunity,” according to their report published Monday. Blue Owl traces its roots back to Owl Rock , a firm founded in 2016 by Goldman Sachs, GSO and KKR veterans. Since it merged...
PM Images/DigitalVision via Getty Images By Christopher Gannatti, CFA In 2013, we developed what is now known as WisdomTree’s Quality Dividend Growth methodology. At the time, many of the largest technology companies paid no dividend at all. Today, it is increasingly difficult to find mega-cap tech firms that are not returning cash to shareholders and growing those payments consistently. Markets h...
PM Images/DigitalVision via Getty Images By Christopher Gannatti, CFA In 2013, we developed what is now known as WisdomTree’s Quality Dividend Growth methodology. At the time, many of the largest technology companies paid no dividend at all. Today, it is increasingly difficult to find mega-cap tech firms that are not returning cash to shareholders and growing those payments consistently. Markets have evolved, leadership has shifted and volatility has come and gone, but the discipline of focusing on profitable companies with sustainable dividend growth has endured. As we move through early 2026’s market turbulence, it is worth stepping back and reassessing nearly 13 years of live results through a long-term lens, focusing on some of the largest exchange-traded funds (ETFs) that represent strategies targeting this concept of dividend growth 1 . When I start looking at results, I try to simplify the picture into three things: Average annual returns, preferably over a period of more than 10 years, if possible. Average annual volatility, to give a sense of the experience of generating those returns. Average annual Sharpe ratio, which measures units of return in excess of a risk-free rate relative to the level of volatility. We see the results in Figure 1a. Figure 1a: A Performance Snapshot of Different U.S. Dividend Growth Equity ETFs Sources: WisdomTree, FactSet, Morningstar specifically data from the Fund Comparison Tool in the PATH suite of tools, accessed February 13, 2026 with returns as of February 12, 2026, and both volatility and Sharpe ratio as of December 31, 2025. The period for these statistics starts as far back as possible for all strategies shown, June 10, 2014, the inception for DGRO. Green indicates a more favorable level for a characteristic, measured relative to the other ETFs, whereas red indicates a less favorable level for that characteristic. NAV denotes total return performance at net asset value. MP denotes market price performance. Past performa...
Funds promised for security have not been received Officials warn of potential cancellations to fan festivals Local and national officials expressed concern on Tuesday that the ongoing partial government shutdown in the United States could adversely affect planning and preparation for the 2026 World Cup, which is just over 100 days away. In a hearing before the House committee on homeland security...
Funds promised for security have not been received Officials warn of potential cancellations to fan festivals Local and national officials expressed concern on Tuesday that the ongoing partial government shutdown in the United States could adversely affect planning and preparation for the 2026 World Cup, which is just over 100 days away. In a hearing before the House committee on homeland security, representatives from Miami, Kansas City and New Jersey – three locations that will host a combined total of 21 matches in the tournament, including the final – said they are still waiting on federal funds to be released to their respective local agencies. Last July, lawmakers pledged $625m in federal assistance toward World Cup security via the Trump administration’s “big beautiful” policy bill . Continue reading...