12 days ago
(Bloomberg) -- Barely six weeks out from the midterm elections, housing costs that many Americans have long said are too high are looking even more out of reach.
Most Read from Bloomberg
Saudis Give European Oil Buyers No Supplies for Next Month
Zuckerberg Has an AI Empire to Build. Meet the Adviser Who Handles the Details
Blackstone Sees India Nearing Tipping Point for Foreign Capital
#buyers
Most Read from Bloomberg
Saudis Give European Oil Buyers No Supplies for Next Month
Zuckerberg Has an AI Empire to Build. Meet the Adviser Who Handles the Details
Blackstone Sees India Nearing Tipping Point for Foreign Capital
#buyers
13 days ago
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The Securities and Exchange Commission (SEC) is seeking interviews with current and former Guggenheim Investments employees as regulators deepen inquiries into CEO Mark Walter's business.
The SEC is specifically looking at people who have managed insurance-company ******* et portfolios, sources familiar with the matter told Bloomberg. Some individuals contacted by the agency are hiring lawyers to help them respond to confidential inquiries.
The request for interviews suggests that regulators are continuing to scrutinize the billionaire's business empire despite public ******* urances from Guggenheim officials and TWG Holdings, Walter's holding company, that they are cooperating and working with the government on its inquiries.
Read Also:Deal Dispatch: Egg Maker Vital Farms Considers Sale, Blackstone Buys Flow Control, Kennedy Center Troubles
#regulators #securities
The Securities and Exchange Commission (SEC) is seeking interviews with current and former Guggenheim Investments employees as regulators deepen inquiries into CEO Mark Walter's business.
The SEC is specifically looking at people who have managed insurance-company ******* et portfolios, sources familiar with the matter told Bloomberg. Some individuals contacted by the agency are hiring lawyers to help them respond to confidential inquiries.
The request for interviews suggests that regulators are continuing to scrutinize the billionaire's business empire despite public ******* urances from Guggenheim officials and TWG Holdings, Walter's holding company, that they are cooperating and working with the government on its inquiries.
Read Also:Deal Dispatch: Egg Maker Vital Farms Considers Sale, Blackstone Buys Flow Control, Kennedy Center Troubles
#regulators #securities
18 days ago
On August 4, Willis Lease Finance Corporation (NASDAQ:WLFC) reported second-quarter results that pulled in two directions at once. The lessor of commercial aircraft engines grew its operating business at a healthy clip, yet net income fell by more than half, a split that makes this quarter harder to read than the headline suggests.
Income from operations climbed 20.2% to $34.0 million in the quarter ended June 30, 2026, and the engine underneath that number is lease rent revenue, which rose 6.7% to $77.1 million as the average size of Willis Lease's portfolio expanded from a year earlier. Over the first six months of 2026, lease rent revenue is up 10.4% to $154.5 million, a steadier pace than the quarterly figure alone implies.
The company's trading business added to that. Willis Lease booked a $32.0 million gain on the sale of leased equipment, up 16.2%, after selling 21 engines and other parts and equipment during the quarter, compared with 14 engines and two airframes a year earlier. That kind of turnover matters for a leasing company, since selling ****** ets at a gain confirms that engine values in the market are holding up.
The bigger story sits in how Willis Lease is expanding beyond its own balance sheet. ****** ets under management, which folds in the company's on-balance-sheet fleet along with its Willis Aviation Capital business, grew 21% year over year to $4.4 billion. CEO Austin C. Willis tied that growth directly to building out Willis Aviation Capital, and the fee income backs that up: management and advisory fees jumped 113.4% to $5.5 million in the quarter and 194.9% to $13.4 million over six months. Two new investment fund partnerships, one with Liberty Mutual Investments that began operating in March 2026 and one with Blackstone Credit & Insurance that started in April 2026, are the mechanics behind that shift toward managing other people's capital rather than only deploying its own.
Net income attributable to common shareholders fell 51.2% to $28.7 million, and diluted earnings per share dropped from $2.81 to $1.31. Some of that gap traces to a tough comparison rather than a weaker quarter, since the second quarter of 2025 included a $43.0 million gain from the sale of the BAML business that had no counterpart this year. Willis Lease also recognized a $5.4 million loss on debt extinguishment in the quarter, and $12.4 million over six months, a cost tied to refinancing that simply was not there in 2025.
#lease #capital #months
Income from operations climbed 20.2% to $34.0 million in the quarter ended June 30, 2026, and the engine underneath that number is lease rent revenue, which rose 6.7% to $77.1 million as the average size of Willis Lease's portfolio expanded from a year earlier. Over the first six months of 2026, lease rent revenue is up 10.4% to $154.5 million, a steadier pace than the quarterly figure alone implies.
The company's trading business added to that. Willis Lease booked a $32.0 million gain on the sale of leased equipment, up 16.2%, after selling 21 engines and other parts and equipment during the quarter, compared with 14 engines and two airframes a year earlier. That kind of turnover matters for a leasing company, since selling ****** ets at a gain confirms that engine values in the market are holding up.
The bigger story sits in how Willis Lease is expanding beyond its own balance sheet. ****** ets under management, which folds in the company's on-balance-sheet fleet along with its Willis Aviation Capital business, grew 21% year over year to $4.4 billion. CEO Austin C. Willis tied that growth directly to building out Willis Aviation Capital, and the fee income backs that up: management and advisory fees jumped 113.4% to $5.5 million in the quarter and 194.9% to $13.4 million over six months. Two new investment fund partnerships, one with Liberty Mutual Investments that began operating in March 2026 and one with Blackstone Credit & Insurance that started in April 2026, are the mechanics behind that shift toward managing other people's capital rather than only deploying its own.
Net income attributable to common shareholders fell 51.2% to $28.7 million, and diluted earnings per share dropped from $2.81 to $1.31. Some of that gap traces to a tough comparison rather than a weaker quarter, since the second quarter of 2025 included a $43.0 million gain from the sale of the BAML business that had no counterpart this year. Willis Lease also recognized a $5.4 million loss on debt extinguishment in the quarter, and $12.4 million over six months, a cost tied to refinancing that simply was not there in 2025.
#lease #capital #months
18 days ago
Enbridge Inc. (NYSE:ENB) has agreed to buy Blackstone-owned Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its presence in the U.S. liquids pipeline market. The deal includes a 75% stake in the 1,050-mile Pony Express Pipeline, a 51% interest in the Powder River Gateway system, around 8.4 million barrels of storage capacity and crude marketing operations.
Pony Express can move roughly 460,000 barrels of crude per day between the Rockies and the Cushing, Oklahoma, hub. The deal also gives Enbridge greater exposure to major producing regions, including the Bakken, Powder River and Denver-Julesburg basins.
The acquisition gives Enbridge Inc. (NYSE:ENB) a stronger position in U.S. crude transportation at a time when domestic oil production is expected to remain important. Pony Express gives the company a larger presence in the Rockies and complements its existing Express-Platte system.
That combination could allow Enbridge to bring the operations together more efficiently and find synergies across its wider liquids network. The deal also gives Enbridge more than additional pipeline capacity. It adds storage infrastructure and crude marketing operations, giving the company more flexibility in how it manages and optimizes volumes. Bringing these parts of the business together could also improve the economics of the acquired **** ets.
Enbridge Inc. (NYSE:ENB) expects the **** ets to generate significant free cash flow. The company also says the transaction should add to distributable cash flow per share in the first full year after closing. The **** ets also offer relatively predictable infrastructure-style cash flows. This means Enbridge does not need higher crude prices to benefit from the acquisition. The deal fits with the company's broader strategy of growing its fee-based energy infrastructure business across North America, backed by its C$41 billion secured growth backlog.
#enbridge #cash #gives #business
Pony Express can move roughly 460,000 barrels of crude per day between the Rockies and the Cushing, Oklahoma, hub. The deal also gives Enbridge greater exposure to major producing regions, including the Bakken, Powder River and Denver-Julesburg basins.
The acquisition gives Enbridge Inc. (NYSE:ENB) a stronger position in U.S. crude transportation at a time when domestic oil production is expected to remain important. Pony Express gives the company a larger presence in the Rockies and complements its existing Express-Platte system.
That combination could allow Enbridge to bring the operations together more efficiently and find synergies across its wider liquids network. The deal also gives Enbridge more than additional pipeline capacity. It adds storage infrastructure and crude marketing operations, giving the company more flexibility in how it manages and optimizes volumes. Bringing these parts of the business together could also improve the economics of the acquired **** ets.
Enbridge Inc. (NYSE:ENB) expects the **** ets to generate significant free cash flow. The company also says the transaction should add to distributable cash flow per share in the first full year after closing. The **** ets also offer relatively predictable infrastructure-style cash flows. This means Enbridge does not need higher crude prices to benefit from the acquisition. The deal fits with the company's broader strategy of growing its fee-based energy infrastructure business across North America, backed by its C$41 billion secured growth backlog.
#enbridge #cash #gives #business
21 days ago
South Africa and New Zealand conclude the inaugural Rugby's Greatest Rivalry series with a last meeting in Baltimore in the United States.
The Springboks have secured at least a draw after winning the final match on home soil last weekend to take a 2-1 lead into this encounter.
Rassie Erasmus's side will be in no mood, though, to let the All Blacks square affairs, with a strong selection named by the world champions as they search for another statement performance.
Can New Zealand hit back in what should be an enjoyable occasion at the home of the Baltimore Ravens?
Here's everything you need to know:
#zealand #home #south
The Springboks have secured at least a draw after winning the final match on home soil last weekend to take a 2-1 lead into this encounter.
Rassie Erasmus's side will be in no mood, though, to let the All Blacks square affairs, with a strong selection named by the world champions as they search for another statement performance.
Can New Zealand hit back in what should be an enjoyable occasion at the home of the Baltimore Ravens?
Here's everything you need to know:
#zealand #home #south
22 days ago
On September 3, AbbVie Inc. (NYSE:ABBV) finalized its acquisition of clinical-stage biotech Apogee Therapeutics, Inc. (NASDAQ:APGE) for $135.11 per share in cash. The $10.9 billion buyouts immediately fold Apogee's promising inflammatory and immunology (I&I) pipeline into AbbVie's commercial engine. On the exact same day, AbbVie separately reported positive Phase 3 Cervino trial results for its bispecific T-cell engager, etentamig, in relapsed/refractory multiple myeloma. Together, the dual catalysts emphasize how mega-cap pharmaceutical giants are deploying cash flow from legacy franchises to lock in next-generation immunology and oncology ***** ets.
In Q2 2026, AbbVie Inc. (NYSE:ABBV) posted $16.99 billion in net revenue, up 10.2% year over year, while adjusted diluted EPS increased 22.9% to $3.65. Growth was driven by its immunology blockbusters, Skyrizi and Rinvoq, which generated $5.505 billion and $2.525 billion in revenue, respectively, representing growth of 24.4% and 24.5%. These gains more than offset the continued decline in Humira revenue, which fell 35.9% to $756 million amid biosimilar competition. AbbVie reiterated its full-year 2026 adjusted EPS guidance of $13.87–$14.07, including a $0.14 dilutive impact from the Apogee transaction.
As a clinical-stage biotech, Apogee Therapeutics, Inc. (NASDAQ:APGE) generated no product revenue in Q2 2026, while R&D expenses reached $67.3 million and G&A expenses totaled $24.3 million, resulting in a quarterly net loss of $85.9 million. Despite the cash burn, the company maintained a strong liquidity position, with $1.3 billion in cash and marketable securities, alongside a $1.3 billion non-dilutive credit collaboration with Blackstone Life Sciences to support Phase 3 trials of its lead ***** et, zumilokibart.
Financially, AbbVie is vastly superior in immediate cash generation and profitability, whereas Apogee represented pure clinical optionality backed by robust liquidity.
For AbbVie, acquiring Apogee's optimized antibody portfolio, including zumilokibart for atopic dermatitis, strengthens its post-Humira immunology franchise. Combined with internal R&D advances such as etentamig, which achieved statistically significant overall response rate and progression-free survival results in the Phase 3 Cervino study, along with an 87.9% 12-month overall survival rate, AbbVie demonstrates potential to sustain strong organic growth.
#phase #revenue #Growth
In Q2 2026, AbbVie Inc. (NYSE:ABBV) posted $16.99 billion in net revenue, up 10.2% year over year, while adjusted diluted EPS increased 22.9% to $3.65. Growth was driven by its immunology blockbusters, Skyrizi and Rinvoq, which generated $5.505 billion and $2.525 billion in revenue, respectively, representing growth of 24.4% and 24.5%. These gains more than offset the continued decline in Humira revenue, which fell 35.9% to $756 million amid biosimilar competition. AbbVie reiterated its full-year 2026 adjusted EPS guidance of $13.87–$14.07, including a $0.14 dilutive impact from the Apogee transaction.
As a clinical-stage biotech, Apogee Therapeutics, Inc. (NASDAQ:APGE) generated no product revenue in Q2 2026, while R&D expenses reached $67.3 million and G&A expenses totaled $24.3 million, resulting in a quarterly net loss of $85.9 million. Despite the cash burn, the company maintained a strong liquidity position, with $1.3 billion in cash and marketable securities, alongside a $1.3 billion non-dilutive credit collaboration with Blackstone Life Sciences to support Phase 3 trials of its lead ***** et, zumilokibart.
Financially, AbbVie is vastly superior in immediate cash generation and profitability, whereas Apogee represented pure clinical optionality backed by robust liquidity.
For AbbVie, acquiring Apogee's optimized antibody portfolio, including zumilokibart for atopic dermatitis, strengthens its post-Humira immunology franchise. Combined with internal R&D advances such as etentamig, which achieved statistically significant overall response rate and progression-free survival results in the Phase 3 Cervino study, along with an 87.9% 12-month overall survival rate, AbbVie demonstrates potential to sustain strong organic growth.
#phase #revenue #Growth
22 days ago
Broadcom Inc. (NASDAQ:AVGO) could be one of the biggest beneficiaries of Anthropic's accelerating compute requirements. The opportunity comes amid growing concerns that Google's decision to develop more of its chips internally could threaten Broadcom's custom silicon business.
However, Macquarie ****** yst Arthur Lai argued on September 3 that many of these concerns may already be priced in. The stock is down by about 24% from its all-time high, while Google's work with MediaTek and its expanding relationship with Marvell have added to concerns about Broadcom losing share in future TPU programs.
According to Lai, the recent weakness could create an attractive entry point as Broadcom positions itself to capture what could become a $40 billion opportunity from Anthropic.
In April, Anthropic announced an expanded partnership with Google and Broadcom to secure next-generation TPU capacity. Anthropic plans to use its computing infrastructure to accelerate training and inference for its Claude family of artificial intelligence models as demand for AI applications continues to grow.
The partnership could provide Broadcom with an important avenue for expanding its custom AI semiconductor business. The company has also been expanding its AI infrastructure capabilities through partnerships with major financial institutions. Together with Apollo and Blackstone, it launched an AI XPV platform designed to support more than 20 gigawatts of compute capacity.
#broadcom #Opportunity #custom #business
However, Macquarie ****** yst Arthur Lai argued on September 3 that many of these concerns may already be priced in. The stock is down by about 24% from its all-time high, while Google's work with MediaTek and its expanding relationship with Marvell have added to concerns about Broadcom losing share in future TPU programs.
According to Lai, the recent weakness could create an attractive entry point as Broadcom positions itself to capture what could become a $40 billion opportunity from Anthropic.
In April, Anthropic announced an expanded partnership with Google and Broadcom to secure next-generation TPU capacity. Anthropic plans to use its computing infrastructure to accelerate training and inference for its Claude family of artificial intelligence models as demand for AI applications continues to grow.
The partnership could provide Broadcom with an important avenue for expanding its custom AI semiconductor business. The company has also been expanding its AI infrastructure capabilities through partnerships with major financial institutions. Together with Apollo and Blackstone, it launched an AI XPV platform designed to support more than 20 gigawatts of compute capacity.
#broadcom #Opportunity #custom #business
25 days ago
Reuters and Bloomberg reported that Blackstone Inc. (NYSE:BX) offered to sell up to 25% of India's Knowledge Realty Trust, a real estate investment trust it backs alongside local partner Sattva Group, in a deal that could raise as much as $1.25 billion to $1.3 billion.
The floor price of 108 rupees per unit represented a 4.7% discount to the prior close and a 13% discount to net ******* et value. The sale ran August 31 for institutional investors and September 1 for retail investors. Bloomberg later reported the offering was fully subscribed and upsized to raise about $1.3 billion, the largest share sale by a private shareholder in India via this method. Blackstone's stake will fall to about 21.5% from 46.5% if the oversubscription option is fully exercised, making Sattva Group the trust's largest shareholder at 32%. Knowledge Realty Trust owns 29 properties across six Indian cities and has gained roughly 10% since its August 2025 listing.
Strong investor demand validates the quality of the portfolio Blackstone built. The offering attracted enough demand to sell out and even allowed Blackstone to increase the size of the transaction. That strong response gives Blackstone confidence that institutional and retail investors want exposure to Knowledge Realty Trust and India's commercial real estate market.
The sale also lets Blackstone recycle capital after generating gains on its investment. Knowledge Realty Trust has gained about 10% since its August 2025 listing. Blackstone can now redeploy proceeds into new investments rather than keep as much capital concentrated in one real estate ******* et and market. The transaction shows Blackstone's ability to monetize mature investments and redeploy capital into new opportunities.
Blackstone Inc. (NYSE:BX) still retains exposure to Knowledge Realty Trust after the sale. Its remaining stake of about 21.5% gives the firm substantial economic exposure to the trust's future performance alongside Sattva Group, which holds about 32%. Blackstone can continue to participate in India's commercial real estate growth while securing a significant amount of liquidity from the partial exit.
#trust #real #sale
The floor price of 108 rupees per unit represented a 4.7% discount to the prior close and a 13% discount to net ******* et value. The sale ran August 31 for institutional investors and September 1 for retail investors. Bloomberg later reported the offering was fully subscribed and upsized to raise about $1.3 billion, the largest share sale by a private shareholder in India via this method. Blackstone's stake will fall to about 21.5% from 46.5% if the oversubscription option is fully exercised, making Sattva Group the trust's largest shareholder at 32%. Knowledge Realty Trust owns 29 properties across six Indian cities and has gained roughly 10% since its August 2025 listing.
Strong investor demand validates the quality of the portfolio Blackstone built. The offering attracted enough demand to sell out and even allowed Blackstone to increase the size of the transaction. That strong response gives Blackstone confidence that institutional and retail investors want exposure to Knowledge Realty Trust and India's commercial real estate market.
The sale also lets Blackstone recycle capital after generating gains on its investment. Knowledge Realty Trust has gained about 10% since its August 2025 listing. Blackstone can now redeploy proceeds into new investments rather than keep as much capital concentrated in one real estate ******* et and market. The transaction shows Blackstone's ability to monetize mature investments and redeploy capital into new opportunities.
Blackstone Inc. (NYSE:BX) still retains exposure to Knowledge Realty Trust after the sale. Its remaining stake of about 21.5% gives the firm substantial economic exposure to the trust's future performance alongside Sattva Group, which holds about 32%. Blackstone can continue to participate in India's commercial real estate growth while securing a significant amount of liquidity from the partial exit.
#trust #real #sale
25 days ago
Institutional investors are beginning to allocate capital to "evergreen" private market funds that Blackstone Inc. (NYSE:BX) and KKR & Co. Inc. (NYSE:KKR) originally built for wealthy individuals, the Financial Times reported.
Evergreen funds let investors access capital at set intervals rather than locking it up for a decade-long private equity fund life. Blackstone's wealth business has seen institutions begin allocating to its evergreen products, though they currently make up "only a small proportion of the capital raised," said Joan Solotar, who leads that business. KKR has separately raised the share of deals its evergreen K-Series funds can take from a longstanding 7.5% cap to as much as 20% in some cases, the FT reported.
Institutional investors are validating years of investment by Blackstone Inc. (NYSE:BX) and KKR & Co. Inc. (NYSE:KKR) in wealth-focused products. Both firms, along with Apollo, have expanded evergreen vehicles for individual investors, and institutions now choosing these funds provide another source of sophisticated capital for the products. That adoption could help Blackstone and KKR expand their wealth-management businesses beyond traditional individual investors.
KKR's renegotiated deal-allocation terms provide another sign of growing demand for its evergreen funds. KKR & Co. Inc. (NYSE:KKR) increased the co-investment cap for its K-Series funds from 7.5% to as much as 20% in vehicles such as its $8 billion European Fund VI. The larger allocation gives KKR's wealth-focused funds access to more investment opportunities and could help the company grow ****** ets and fee revenue from this channel.
Evergreen structures solve a current problem for institutional investors, not just individuals. Many institutions have grown more cautious about committing to traditional private equity as managers have struggled to exit investments and return capital. Evergreen funds' greater liquidity gives institutions an alternative way to stay invested without that same lockup risk.
#investors #capital #institutions #private
Evergreen funds let investors access capital at set intervals rather than locking it up for a decade-long private equity fund life. Blackstone's wealth business has seen institutions begin allocating to its evergreen products, though they currently make up "only a small proportion of the capital raised," said Joan Solotar, who leads that business. KKR has separately raised the share of deals its evergreen K-Series funds can take from a longstanding 7.5% cap to as much as 20% in some cases, the FT reported.
Institutional investors are validating years of investment by Blackstone Inc. (NYSE:BX) and KKR & Co. Inc. (NYSE:KKR) in wealth-focused products. Both firms, along with Apollo, have expanded evergreen vehicles for individual investors, and institutions now choosing these funds provide another source of sophisticated capital for the products. That adoption could help Blackstone and KKR expand their wealth-management businesses beyond traditional individual investors.
KKR's renegotiated deal-allocation terms provide another sign of growing demand for its evergreen funds. KKR & Co. Inc. (NYSE:KKR) increased the co-investment cap for its K-Series funds from 7.5% to as much as 20% in vehicles such as its $8 billion European Fund VI. The larger allocation gives KKR's wealth-focused funds access to more investment opportunities and could help the company grow ****** ets and fee revenue from this channel.
Evergreen structures solve a current problem for institutional investors, not just individuals. Many institutions have grown more cautious about committing to traditional private equity as managers have struggled to exit investments and return capital. Evergreen funds' greater liquidity gives institutions an alternative way to stay invested without that same lockup risk.
#investors #capital #institutions #private
27 days ago
New Zealand captain Ardie Savea has been ruled out of the fourth Test against South Africa with a shoulder injury.
Savea was forced off just half-an-hour in to the third Test in Johannesburg after coming up in serious pain following a clearout from Jasper Wiese.
The No 8 struggled to hold his right arm up and was pictured in a sling after a 29-24 defeat.
Savea had scored twice in an excellent start to the game, and his absence is a major blow to Dave Rennie as the All Blacks seek to draw the series with victory in Baltimore next Saturday.
"Yes, [it's a] shoulder injury," Rennie confirmed. "Not sure if it's dislocated, but he certainly won't be travelling to the States.
#test #injury #ardie
Savea was forced off just half-an-hour in to the third Test in Johannesburg after coming up in serious pain following a clearout from Jasper Wiese.
The No 8 struggled to hold his right arm up and was pictured in a sling after a 29-24 defeat.
Savea had scored twice in an excellent start to the game, and his absence is a major blow to Dave Rennie as the All Blacks seek to draw the series with victory in Baltimore next Saturday.
"Yes, [it's a] shoulder injury," Rennie confirmed. "Not sure if it's dislocated, but he certainly won't be travelling to the States.
#test #injury #ardie
27 days ago
Old foes South Africa and New Zealand collide in a new series in the first "Rugby's Greatest Rivalry" tour.
The Springboks and All Blacks have reached a reciprocal touring agreement that will see the pair clash in a number of Tests every four years.
The first edition sees Dave Rennie's side head for South African soil to take on four United Rugby Championship sides alongside a quartet of clashes with Rassie Erasmus's world champions.
The fourth of those fixtures, which brings together the World Cup finalists from three years ago, will take place in Baltimore on the east coast of the United States.
Here's everything you need to know.
#four #years #africa
The Springboks and All Blacks have reached a reciprocal touring agreement that will see the pair clash in a number of Tests every four years.
The first edition sees Dave Rennie's side head for South African soil to take on four United Rugby Championship sides alongside a quartet of clashes with Rassie Erasmus's world champions.
The fourth of those fixtures, which brings together the World Cup finalists from three years ago, will take place in Baltimore on the east coast of the United States.
Here's everything you need to know.
#four #years #africa
27 days ago
Matt Campbell was far from the being the only coach to have a solid showing in his debut with his new school. His predecessor at Penn State ended up having a pretty big day as well.
James Franklin won his head coaching debut with Virginia Tech on Saturday behind an offensive explosion against VMI. Virginia Tech's 73-3 victory was fueled in part by a handful of notable performances by some former Penn State players who chose to follow Franklin from Happy Valley to Blacksburg.
Ethan Grunkemeyer, now Virginia Tech's starting quarterback, passed for 224 yards and 2 touchdowns before giving way to his backup in the second half. Tight end Luke Reynolds was Virginia Tech's second-leading receiver with 5 catches for 50 yards and a touchdown. Defensive lineman Mylachi Williams recorded the first sack of his career in the first quarter. Messiah Mickens, a freshman running back who was set to join Penn State but ultimately stayed loyal to Franklin, had 5 carries for 23 yards in his college debut.
The Hokies out-gained VMI 619 to 83, and the defense held the Keydets to negative rushing yardage in the game (-4 yards). But it wasn't all rosy for Franklin's squad. Virginia Tech was flagged 11 times for penalties for a total of 93 penalty yards. Virginia Tech also lost the turnover battle, 2-1.
Virginia Tech's next game will be next Saturday against Old Dominion, coached by former Penn State offensive coordinator (under Franklin) Ricky Rahne. The Hokies are orchestrating a "white effect" for Lane Stadium for the game.
#Tech #game
James Franklin won his head coaching debut with Virginia Tech on Saturday behind an offensive explosion against VMI. Virginia Tech's 73-3 victory was fueled in part by a handful of notable performances by some former Penn State players who chose to follow Franklin from Happy Valley to Blacksburg.
Ethan Grunkemeyer, now Virginia Tech's starting quarterback, passed for 224 yards and 2 touchdowns before giving way to his backup in the second half. Tight end Luke Reynolds was Virginia Tech's second-leading receiver with 5 catches for 50 yards and a touchdown. Defensive lineman Mylachi Williams recorded the first sack of his career in the first quarter. Messiah Mickens, a freshman running back who was set to join Penn State but ultimately stayed loyal to Franklin, had 5 carries for 23 yards in his college debut.
The Hokies out-gained VMI 619 to 83, and the defense held the Keydets to negative rushing yardage in the game (-4 yards). But it wasn't all rosy for Franklin's squad. Virginia Tech was flagged 11 times for penalties for a total of 93 penalty yards. Virginia Tech also lost the turnover battle, 2-1.
Virginia Tech's next game will be next Saturday against Old Dominion, coached by former Penn State offensive coordinator (under Franklin) Ricky Rahne. The Hokies are orchestrating a "white effect" for Lane Stadium for the game.
#Tech #game
27 days ago
BLACKSBURG, Va. (AP) — Marcellous Hawkins Jr. rushed for three touchdowns, and Jeffrey Overton Jr. rushed for 108 yards and two scores to lead Virginia Tech to a 73-3 victory over VMI on Saturday in the debut of Hokies' head coach James Franklin.
Franklin, who was fired last October by Penn State after 12 seasons and hired by Virginia Tech 36 days later, witnessed a dominating performance by the Hokies (1-0) in their opener. Virginia Tech's offense scored on its first six possessions and punted just once during the game. The Hokies' defense held VMI (0-2) to just 83 yards, and the special teams blocked two punts, recovering one for a touchdown.
Hired to rebuild a once-proud Virginia Tech program that has suffered losing seasons in five of the past six years, Franklin brought in 27 transfers, including 12 who followed him from his previous stop. Arguably the most important of those, quarterback Ethan Grunkemeyer, enjoyed a great Virginia Tech debut.
Grunkemeyer, who started the final seven games for Penn State last season, completed 10 of his first 11 passes. He finished 17 of 20 for 224 yards and two touchdowns.
Led by Overton, who scored on runs of 50 and 23 yards, and Grunkemeyer, the Hokies finished with 619 total yards.
#franklin #overton #penn
Franklin, who was fired last October by Penn State after 12 seasons and hired by Virginia Tech 36 days later, witnessed a dominating performance by the Hokies (1-0) in their opener. Virginia Tech's offense scored on its first six possessions and punted just once during the game. The Hokies' defense held VMI (0-2) to just 83 yards, and the special teams blocked two punts, recovering one for a touchdown.
Hired to rebuild a once-proud Virginia Tech program that has suffered losing seasons in five of the past six years, Franklin brought in 27 transfers, including 12 who followed him from his previous stop. Arguably the most important of those, quarterback Ethan Grunkemeyer, enjoyed a great Virginia Tech debut.
Grunkemeyer, who started the final seven games for Penn State last season, completed 10 of his first 11 passes. He finished 17 of 20 for 224 yards and two touchdowns.
Led by Overton, who scored on runs of 50 and 23 yards, and Grunkemeyer, the Hokies finished with 619 total yards.
#franklin #overton #penn
27 days ago
JOHANNESBURG (AP) — South Africa and New Zealand fly together to Baltimore on Sunday to conclude their epic rugby test series without key players Cheslin Kolbe and Ardie Savea.
Both suffered series-ending injuries on Saturday as the world champion Springboks beat the All Blacks 29-24 and grabbed a 2-1 lead in the four-test series.
Kolbe, South Africa's flawless goalkicker in the series, broke his jaw when he was run over by Luke Jacobson, and Savea, the All Blacks captain, possibly dislocated his right shoulder in a clearout by Jasper Wiese. Also, New Zealand center Quinn Tupaea damaged his MCL.
Neither team planned to replace them in the squad for the final match next Saturday at the NFL home of the Baltimore Ravens.
Having guided the Springboks into a series lead after losing the first match, coach Rassie Erasmus was relieved.
#series #south #springboks #blacks
Both suffered series-ending injuries on Saturday as the world champion Springboks beat the All Blacks 29-24 and grabbed a 2-1 lead in the four-test series.
Kolbe, South Africa's flawless goalkicker in the series, broke his jaw when he was run over by Luke Jacobson, and Savea, the All Blacks captain, possibly dislocated his right shoulder in a clearout by Jasper Wiese. Also, New Zealand center Quinn Tupaea damaged his MCL.
Neither team planned to replace them in the squad for the final match next Saturday at the NFL home of the Baltimore Ravens.
Having guided the Springboks into a series lead after losing the first match, coach Rassie Erasmus was relieved.
#series #south #springboks #blacks
27 days ago
South Africa edged another ferocious and bruising clash against New Zealand to win the third Test 29-24 on Saturday and go 2-1 up in the four-Test Rugby's Greatest Rivalry series.
Both teams scored four tries in front of 87,976 fans at Soccer City, with the Springboks coming back after trailing in the first half to add to their narrow success in last weekend's second test in Cape Town.
It proved another classic contest of Springbok forward power against the All Blacks' pacey passing attack, with New Zealand starting furiously but eventually being worn down by the physicality of their hosts.
Ardie Savea went off nine minutes before halftime with a shoulder injury in a blow to the tourists and he looks uncertain for the final match, which will be played in Baltimore, in the United States, next Saturday.
Springboks coach Rassie Erasmus said: "It was epic and intense, fierce battle in all departments. The scoreboard in the end showed how close it was. Were just happy to win."
#springboks #four #rivalry
Both teams scored four tries in front of 87,976 fans at Soccer City, with the Springboks coming back after trailing in the first half to add to their narrow success in last weekend's second test in Cape Town.
It proved another classic contest of Springbok forward power against the All Blacks' pacey passing attack, with New Zealand starting furiously but eventually being worn down by the physicality of their hosts.
Ardie Savea went off nine minutes before halftime with a shoulder injury in a blow to the tourists and he looks uncertain for the final match, which will be played in Baltimore, in the United States, next Saturday.
Springboks coach Rassie Erasmus said: "It was epic and intense, fierce battle in all departments. The scoreboard in the end showed how close it was. Were just happy to win."
#springboks #four #rivalry
27 days ago
It was already public knowledge that there was one bidder for an NBA expansion team in Seattle: One Roof Sports and Entertainment, the majority owner of the NHL's Seattle Kraken, led by Samantha Holloway.
Now, there is a second, reports Christian Clark and John Hollinger of The Athletic:
BlackSun Private Equity, a New York-based firm that in August submitted a bid to bring the NBA back to Seattle, is working with the Tulalip Tribes to build the arena on tribal-owned land if it secures the franchise.
Those new arena plans would be in Marysville, Washington, which is about 35 miles from Seattle. The plans are not just to build an arena but also an "entertainment district" on the tribal lands. The challenge would be making the commute relatively easy and convincing people in Seattle proper to make the trip out to Marysville.
Both potential ownership groups have been eager to say they want to bring a team to stay in the Seattle area, after the previous SuperSonics were bought and moved to Oklahoma City in 2008.
#arena
Now, there is a second, reports Christian Clark and John Hollinger of The Athletic:
BlackSun Private Equity, a New York-based firm that in August submitted a bid to bring the NBA back to Seattle, is working with the Tulalip Tribes to build the arena on tribal-owned land if it secures the franchise.
Those new arena plans would be in Marysville, Washington, which is about 35 miles from Seattle. The plans are not just to build an arena but also an "entertainment district" on the tribal lands. The challenge would be making the commute relatively easy and convincing people in Seattle proper to make the trip out to Marysville.
Both potential ownership groups have been eager to say they want to bring a team to stay in the Seattle area, after the previous SuperSonics were bought and moved to Oklahoma City in 2008.
#arena
27 days ago
Gardner-Webb stays on the road Saturday for an in-state rivalry matchup against Wofford at Gibbs Stadium in Spartanburg, with kickoff set for 1:30 PM ET on ESPN+.
Sep 20, 2025; Blacksburg, Virginia, USA; Wofford Terriers quarterback Jayden Whitaker (8) looks to pass during the fourth quarter against the Virginia Tech Hokies at Lane Stadium. Mandatory Credit: Brian Bishop-Imagn Images
Date: Saturday, September 5, 2026
Time: 1:30 PM ET
Channel: ESPN+
#stadium
Sep 20, 2025; Blacksburg, Virginia, USA; Wofford Terriers quarterback Jayden Whitaker (8) looks to pass during the fourth quarter against the Virginia Tech Hokies at Lane Stadium. Mandatory Credit: Brian Bishop-Imagn Images
Date: Saturday, September 5, 2026
Time: 1:30 PM ET
Channel: ESPN+
#stadium
28 days ago
Sept 03, 2026, 1:00 pm EDT
Estimating the U.S. national debt as a percentage of economic growth seems to have become something of a national pastime—one that is moving beyond data nerds.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Blackstone and Cliffwater have seen redemption requests of about 10% and 16%, respectively, at their private credit funds.
#rights #reserved
Estimating the U.S. national debt as a percentage of economic growth seems to have become something of a national pastime—one that is moving beyond data nerds.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Blackstone and Cliffwater have seen redemption requests of about 10% and 16%, respectively, at their private credit funds.
#rights #reserved
29 days ago
LEXINGTON, Va. (WFXR) – Facing Virginia Tech for the first time since 1984, the VMI football team will renew the all-time series with the Hokies after a 42-year hiatus.
VMI looks to bounce back from last week's 38-10 loss to Idaho State in Pocatello, Idaho. The Keydets trailed just 10-0 at halftime, but the Bengals pulled away in the third quarter with four touchdowns en route to the win.
Virginia Tech is eager to start the season under First-year Head Coach and former Penn State Head Coach James Franklin, who takes over a team that finished 15th in the ACC last season with a 3-9 record overall and 2-6 mark in conference.
Although the landscape of college football has changed dramatically since 1984 – the last time the two schools played each other – the Keydets do own 25 all-time wins in the series dating back to 1894.
The Hokies have won the last three matchups which were played in 1982, 1983 and 1984. The last time the Keydets took down the Hokies was November 21, 1981, a 6-0 win in Blacksburg.
The Keydets (0-1) and Hokies (0-0) will kick off at 7:30 p.m. at Lane Stadium.
Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.For the latest news, weather, sports, and streaming video, head to WFXRtv.
#hokies #keydets #Tech
VMI looks to bounce back from last week's 38-10 loss to Idaho State in Pocatello, Idaho. The Keydets trailed just 10-0 at halftime, but the Bengals pulled away in the third quarter with four touchdowns en route to the win.
Virginia Tech is eager to start the season under First-year Head Coach and former Penn State Head Coach James Franklin, who takes over a team that finished 15th in the ACC last season with a 3-9 record overall and 2-6 mark in conference.
Although the landscape of college football has changed dramatically since 1984 – the last time the two schools played each other – the Keydets do own 25 all-time wins in the series dating back to 1894.
The Hokies have won the last three matchups which were played in 1982, 1983 and 1984. The last time the Keydets took down the Hokies was November 21, 1981, a 6-0 win in Blacksburg.
The Keydets (0-1) and Hokies (0-0) will kick off at 7:30 p.m. at Lane Stadium.
Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.For the latest news, weather, sports, and streaming video, head to WFXRtv.
#hokies #keydets #Tech
29 days ago
Our ****** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Lottomatica just pushed its chips into the middle of the table. By swallowing Cirsa, it gets Spain, scale and a bigger global seat. Investors, though, are already arguing over who got the better hand.
Lottomatica has agreed to absorb Spanish rival Cirsa in an all-share deal that will create the world's second-largest listed gaming and sports-betting operator.
The transaction values Cirsa at about €2.8 billion, or roughly $3.2 billion. Cirsa shareholders will receive 0.668 newly issued Lottomatica shares for each Cirsa share they own. When the deal closes, current Lottomatica shareholders will own about 67.5% of the combined company, while Cirsa shareholders will hold around 32.5%.
Blackstone is staying firmly at the table. The private equity group, which controls Cirsa through LHMC Midco, is expected to own about 24% of the enlarged company, making it the biggest individual shareholder. It will also have the right to appoint two directors to a 13-member board.
#shareholders #table #billion
Lottomatica just pushed its chips into the middle of the table. By swallowing Cirsa, it gets Spain, scale and a bigger global seat. Investors, though, are already arguing over who got the better hand.
Lottomatica has agreed to absorb Spanish rival Cirsa in an all-share deal that will create the world's second-largest listed gaming and sports-betting operator.
The transaction values Cirsa at about €2.8 billion, or roughly $3.2 billion. Cirsa shareholders will receive 0.668 newly issued Lottomatica shares for each Cirsa share they own. When the deal closes, current Lottomatica shareholders will own about 67.5% of the combined company, while Cirsa shareholders will hold around 32.5%.
Blackstone is staying firmly at the table. The private equity group, which controls Cirsa through LHMC Midco, is expected to own about 24% of the enlarged company, making it the biggest individual shareholder. It will also have the right to appoint two directors to a 13-member board.
#shareholders #table #billion
1 month ago
Growth in the evergreen fund market is being driven by the largest listed alternative managers. But there are ***** et classes in which size is likely to be a weakness rather than a strength in catering to individual investors.
This, at least, is what venture capital and growth equity manager Fairway Capital Management is banking on.
Founded in 2020 by a group of former executives with Adams Street Partners, led by former COO Kevin Callahan, the Chicago manager raised two venture-capital funds of funds with combined commitments of $52 million, including a sizeable GP commitment, before launching an evergreen fund of funds at the end of 2021.
Fairway Private Equity & Venture Capital Opportunities Fund, which makes VC, private equity and private credit investments, aims to offer individuals access to funds and managers "typically only available to large institutional investors." It held about $26.3 million in net ***** ets as of March 31, 2026, per regulatory filings.
While firms such as Blackstone and Apollo Global Management have had success launching evergreen products focused on easily scalable ***** et classes, such as infrastructure and large buyout, VC is inherently "capacity constrained," according to Callahan.
#venture
This, at least, is what venture capital and growth equity manager Fairway Capital Management is banking on.
Founded in 2020 by a group of former executives with Adams Street Partners, led by former COO Kevin Callahan, the Chicago manager raised two venture-capital funds of funds with combined commitments of $52 million, including a sizeable GP commitment, before launching an evergreen fund of funds at the end of 2021.
Fairway Private Equity & Venture Capital Opportunities Fund, which makes VC, private equity and private credit investments, aims to offer individuals access to funds and managers "typically only available to large institutional investors." It held about $26.3 million in net ***** ets as of March 31, 2026, per regulatory filings.
While firms such as Blackstone and Apollo Global Management have had success launching evergreen products focused on easily scalable ***** et classes, such as infrastructure and large buyout, VC is inherently "capacity constrained," according to Callahan.
#venture
1 month ago
In less than one week, the Virginia Tech Hokies are back in action. It will be the first game for new head coach James Franklin when the VMI Keydets come to Lane Stadium to open the 2026 season.
Saturday's game will also feature the re-debut of defensive coordinator Brent Pry. Pry was Virginia Tech's head coach for the past four seasons, but was fired last season after an 0-3 start. Pry is excited to be back in Blacksburg, and in the offseason retained Virginia Tech's top defensive players from a year ago: defensive tackle Kemari Copeland, linebackers Noah Chambers and Kaleb Spencer and safety Quentin Reddish.
Speaking of Reddish, the Virginia Tech secondary has an interesting blend of returning players and newcomers.
We conclude our 2026 season preview today with a look at the secondary.
Number
#virginia #head
Saturday's game will also feature the re-debut of defensive coordinator Brent Pry. Pry was Virginia Tech's head coach for the past four seasons, but was fired last season after an 0-3 start. Pry is excited to be back in Blacksburg, and in the offseason retained Virginia Tech's top defensive players from a year ago: defensive tackle Kemari Copeland, linebackers Noah Chambers and Kaleb Spencer and safety Quentin Reddish.
Speaking of Reddish, the Virginia Tech secondary has an interesting blend of returning players and newcomers.
We conclude our 2026 season preview today with a look at the secondary.
Number
#virginia #head
1 month ago
CNBC reported on August 21, 2026, that Broadcom Inc. (NASDAQ:AVGO) is in talks to raise $70 billion to $80 billion in debt for a chip financing deal supporting AI companies, including Anthropic. The senior tranche, repaid first, is expected to be around $45 billion, with a junior tranche around $35 billion, though the figures remain flexible. Bloomberg first reported the deal could reach $100 billion in total, with Blackstone and Apollo Global Management among the firms in talks to participate. The raise would extend a partnership Broadcom, Apollo, and Blackstone unveiled in June, which committed $35 billion to expand Anthropic's computing infrastructure using Broadcom's custom chips. Broadcom shares rose about 1% on the news.
The deal strengthens Broadcom Inc. (NASDAQ:AVGO)'s position as critical infrastructure for AI labs beyond Nvidia's ecosystem. Broadcom designs custom chips for Alphabet, Meta, Anthropic, and OpenAI, and this financing extends its role in helping major AI labs reduce dependence on a single chip supplier. That diversification of demand sources gives Broadcom a structurally different customer relationship than a pure merchant chip seller.
The financing structure keeps this exposure off Broadcom's own balance sheet in its rawest form. A special-purpose vehicle raises the debt and leases the chips back to customers like Anthropic, rather than Broadcom borrowing the money directly. Structuring growth capital this way lets Broadcom participate in AI infrastructure buildout without carrying the full debt load on its own books.
The scale of plans shows durable demand rather than a one-off transaction. The original June partnership targeted delivering over 20 gigawatts of compute to top AI labs by 2028, and this expansion moves toward that target. A multi-year capacity commitment of that size shows Broadcom's AI customers are planning for sustained growth and not a short-term spending burst.
Broadcom Inc. (NASDAQ:AVGO) is still on the hook if its customers cannot pay, even with the debt structured off-balance-sheet. CNBC's Kristina Partsinevelos explained that "Broadcom's job is to guarantee part of that debt, and that guarantee is where the risk sits." It means a slowdown at Anthropic or another financed customer could still hit Broadcom directly despite the SPV structure.
#NASDAQ
The deal strengthens Broadcom Inc. (NASDAQ:AVGO)'s position as critical infrastructure for AI labs beyond Nvidia's ecosystem. Broadcom designs custom chips for Alphabet, Meta, Anthropic, and OpenAI, and this financing extends its role in helping major AI labs reduce dependence on a single chip supplier. That diversification of demand sources gives Broadcom a structurally different customer relationship than a pure merchant chip seller.
The financing structure keeps this exposure off Broadcom's own balance sheet in its rawest form. A special-purpose vehicle raises the debt and leases the chips back to customers like Anthropic, rather than Broadcom borrowing the money directly. Structuring growth capital this way lets Broadcom participate in AI infrastructure buildout without carrying the full debt load on its own books.
The scale of plans shows durable demand rather than a one-off transaction. The original June partnership targeted delivering over 20 gigawatts of compute to top AI labs by 2028, and this expansion moves toward that target. A multi-year capacity commitment of that size shows Broadcom's AI customers are planning for sustained growth and not a short-term spending burst.
Broadcom Inc. (NASDAQ:AVGO) is still on the hook if its customers cannot pay, even with the debt structured off-balance-sheet. CNBC's Kristina Partsinevelos explained that "Broadcom's job is to guarantee part of that debt, and that guarantee is where the risk sits." It means a slowdown at Anthropic or another financed customer could still hit Broadcom directly despite the SPV structure.
#NASDAQ
1 month ago
During the August 24 episode of Mad Money, Jim Cramer pointed to the sharp reversal in AEVEX Corp. (NYSE:AVEX) stock as he said:
What the heck happened to a stock we really like, AEVEX? I mean, here's a company that makes drones for the military, the single hottest part of the defense sector yet, its stock's been [on] a, let's call it, a roller coaster. AEVEX came public at $20 back in April, jumped nearly 35% the first day of trading, ultimately running as high as $42 and change a few days later. Now, though, it's fallen through the offer price, coming down to $18. I can't find out why.
Some of it's because AEVEX reported earlier this month, and Wall Street, I guess, didn't like the numbers. Stock got slammed. Didn't matter that it was a huge revenue beat. The earnings and backlog both came in weaker than expected, but not that much. Still, I think demand remains strong. They keep winning a lot of new business. At the same time, AEVEX is trying to buy BlackSea Technologies for as much as $650 million in stock and cash, which is a lot of money when you're a $2 billion company. This would give them exposure to unmanned ships and submarines, which they could tie into their drone software system.
AEVEX Corp. (NYSE:AVEX) reported $201.8 million of revenue for the second quarter, up 99.5% from $101.1 million a year earlier. Net income improved to $6.7 million from a loss of $11.8 million, while adjusted EBITDA rose to $28.1 million from $3.6 million. Most of the growth came from AEVEX's tactical systems business. Revenue in the segment increased to $174.2 million, up 141.6% year over year, driven by higher UAS product and support revenue.
AEVEX Corp. (NYSE:AVEX) ended the second quarter with $259.8 million of funded backlog, down from $503.1 million at the end of 2025. That represents a decline of roughly 48%. The company said the $243.3 million decline was primarily due to revenue recognized from the EUCOM AOR Deep Strike program. The company also said the balance was affected by an increase in shorter-cycle customer orders. AEVEX continued to secure new business during the quarter, including contracts for UAS and engineering services, mission-support capabilities, and advanced unmanned mission capabilities.
#Stock #NYSE #avex #business
What the heck happened to a stock we really like, AEVEX? I mean, here's a company that makes drones for the military, the single hottest part of the defense sector yet, its stock's been [on] a, let's call it, a roller coaster. AEVEX came public at $20 back in April, jumped nearly 35% the first day of trading, ultimately running as high as $42 and change a few days later. Now, though, it's fallen through the offer price, coming down to $18. I can't find out why.
Some of it's because AEVEX reported earlier this month, and Wall Street, I guess, didn't like the numbers. Stock got slammed. Didn't matter that it was a huge revenue beat. The earnings and backlog both came in weaker than expected, but not that much. Still, I think demand remains strong. They keep winning a lot of new business. At the same time, AEVEX is trying to buy BlackSea Technologies for as much as $650 million in stock and cash, which is a lot of money when you're a $2 billion company. This would give them exposure to unmanned ships and submarines, which they could tie into their drone software system.
AEVEX Corp. (NYSE:AVEX) reported $201.8 million of revenue for the second quarter, up 99.5% from $101.1 million a year earlier. Net income improved to $6.7 million from a loss of $11.8 million, while adjusted EBITDA rose to $28.1 million from $3.6 million. Most of the growth came from AEVEX's tactical systems business. Revenue in the segment increased to $174.2 million, up 141.6% year over year, driven by higher UAS product and support revenue.
AEVEX Corp. (NYSE:AVEX) ended the second quarter with $259.8 million of funded backlog, down from $503.1 million at the end of 2025. That represents a decline of roughly 48%. The company said the $243.3 million decline was primarily due to revenue recognized from the EUCOM AOR Deep Strike program. The company also said the balance was affected by an increase in shorter-cycle customer orders. AEVEX continued to secure new business during the quarter, including contracts for UAS and engineering services, mission-support capabilities, and advanced unmanned mission capabilities.
#Stock #NYSE #avex #business
1 month ago
Nvidia (NASDAQ: NVDA) has been a cornerstone of the artificial intelligence (AI) trade since OpenAI introduced ChatGPT in late 2022. Shares have advanced more than 1,300% since January 2023, and most Wall Street ******* ysts still view the stock as undervalued.
Nvidia recently announced a strategic partnership with six of the world's largest financial institutions to secure more than $500 billion in financing for potential customers. That capital will unlock demand by helping smaller enterprises and AI labs purchase Nvidia systems.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Here are the important details.
Nvidia recently partnered with six financial institutions -- Apollo Global, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR -- to create new financing platforms designed to mobilize more than $500 billion in capital for artificial intelligence infrastructure. Nvidia itself may backstop up to $125 billion, or 25% of deals.
#intelligence #recently
Nvidia recently announced a strategic partnership with six of the world's largest financial institutions to secure more than $500 billion in financing for potential customers. That capital will unlock demand by helping smaller enterprises and AI labs purchase Nvidia systems.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Here are the important details.
Nvidia recently partnered with six financial institutions -- Apollo Global, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR -- to create new financing platforms designed to mobilize more than $500 billion in capital for artificial intelligence infrastructure. Nvidia itself may backstop up to $125 billion, or 25% of deals.
#intelligence #recently
1 month ago
Several former Jersey Mike's executives and franchisees are reuniting at Dog Haus, betting the lessons they learned helping build the submarine sandwich giant can turn the fast-casual restaurant chain into a national powerhouse.
Dog Haus recently named former Jersey Mike's chief innovation officer James Field as chief marketing officer. He joins President and Chief Development Officer Chris Rigassio and Chief Operating Officer Garen Khodaverdian, both former Jersey Mike's franchisees.
The reunion follows Blackstone's January 2025 acquisition of a majority stake in Jersey Mike's in a deal valued at roughly $8 billion, according to SEC filings.
Field told FOX Business that the group could have pursued separate opportunities following the sale, but saw a chance to stay together and help scale Dog Haus, which currently operates roughly 60 locations.
Popular Beer Brand To Cut 220 Jobs As Production Shifts
#chief #officer #james
Dog Haus recently named former Jersey Mike's chief innovation officer James Field as chief marketing officer. He joins President and Chief Development Officer Chris Rigassio and Chief Operating Officer Garen Khodaverdian, both former Jersey Mike's franchisees.
The reunion follows Blackstone's January 2025 acquisition of a majority stake in Jersey Mike's in a deal valued at roughly $8 billion, according to SEC filings.
Field told FOX Business that the group could have pursued separate opportunities following the sale, but saw a chance to stay together and help scale Dog Haus, which currently operates roughly 60 locations.
Popular Beer Brand To Cut 220 Jobs As Production Shifts
#chief #officer #james
1 month ago
Captain Siya Kolisi is set to be recalled to the South Africa side bidding to hit back in the second Test against New Zealand, with Handre Pollard preferred to Sacha Feinberg-Mngomezulu at fly-half.
The Springboks had a 12-match winning run ended by the All Blacks in a heavy defeat at Ellis Park, Johannesburg, to fall 1-0 behind in the four-match Rugby's Greatest Rivalry series.
Kolisi was left out for the opener but is primed to take the place of Paul de Villiers, provided he makes it through training this week. Fellow flanker Pieter-Steph du Toit – who captained in Kolisi's stead in Johannesburg – will win his 100th cap as part of an experienced back row.
Pollard is called in to start at No 10 as Feinberg-Mngomezulu drops to the bench. Scrum-half Grant Williams and wing Cheslin Kolbe are ruled out due to injury, with Cobus Reinach and Ethan Hooker starting.
Kurt-Lee Arendse is cleared to feature in the back three despite an early withdrawal from the 33-16 defeat at Ellis Park.
#ellis #park #match
The Springboks had a 12-match winning run ended by the All Blacks in a heavy defeat at Ellis Park, Johannesburg, to fall 1-0 behind in the four-match Rugby's Greatest Rivalry series.
Kolisi was left out for the opener but is primed to take the place of Paul de Villiers, provided he makes it through training this week. Fellow flanker Pieter-Steph du Toit – who captained in Kolisi's stead in Johannesburg – will win his 100th cap as part of an experienced back row.
Pollard is called in to start at No 10 as Feinberg-Mngomezulu drops to the bench. Scrum-half Grant Williams and wing Cheslin Kolbe are ruled out due to injury, with Cobus Reinach and Ethan Hooker starting.
Kurt-Lee Arendse is cleared to feature in the back three despite an early withdrawal from the 33-16 defeat at Ellis Park.
#ellis #park #match
1 month ago
This story was originally published on CRE Daily. Join 70,000+ commercial real estate professionals getting daily news, market insights, and industry ******* ysis delivered straight to their inbox with the free CRE Daily newsletter.
Invesco is cutting management fees 20% through 2027 for investors in its $12.7B core real estate fund.
A tender offer will let investors exit at 95% of net ******* et value, funded by affiliate IDR Investment Management.
Invesco and its leaders will add up to $150M, echoing a $400M Blackstone backstop earlier this year.
Invesco is cutting management fees by 20% for investors in its $12.7B core real estate fund. The firm disclosed the move in a recent investor letter reviewed by Bloomberg. It is one of two steps aimed at easing what Invesco called an elevated redemption queue.
#daily #management #estate
Invesco is cutting management fees 20% through 2027 for investors in its $12.7B core real estate fund.
A tender offer will let investors exit at 95% of net ******* et value, funded by affiliate IDR Investment Management.
Invesco and its leaders will add up to $150M, echoing a $400M Blackstone backstop earlier this year.
Invesco is cutting management fees by 20% for investors in its $12.7B core real estate fund. The firm disclosed the move in a recent investor letter reviewed by Bloomberg. It is one of two steps aimed at easing what Invesco called an elevated redemption queue.
#daily #management #estate
1 month ago
The ****** le of the "Bond King" is somewhat in contention. Many would give it to Bill Gross, though over the years, a younger Jeffrey Gundlach has at least shared the ****** le. In any case, when Gundlach posts something like this, it is worth . . . peeling back, shall we say?
Gundlach took aim at Wall Street's newest financial engineering trend. His beef? Nvidia's (NVDA) agreement with major private credit and ****** et management firms such as Apollo, BlackRock, Blackstone, KKR, and Goldman Sachs.
Third Point Starts to Raise Alarm Bells on Broadcom After Dumping AVGO Stock in Q2
Nvidia Q2 Preview: Strong Earnings and Low Valuation Set the Stage for Upside
A $28.7 Billion Reason to Buy SK hynix Stock Now
#gundlach #bill
Gundlach took aim at Wall Street's newest financial engineering trend. His beef? Nvidia's (NVDA) agreement with major private credit and ****** et management firms such as Apollo, BlackRock, Blackstone, KKR, and Goldman Sachs.
Third Point Starts to Raise Alarm Bells on Broadcom After Dumping AVGO Stock in Q2
Nvidia Q2 Preview: Strong Earnings and Low Valuation Set the Stage for Upside
A $28.7 Billion Reason to Buy SK hynix Stock Now
#gundlach #bill
1 month ago
Artificial intelligence is becoming as much a financing challenge as a technology challenge. The biggest AI developers are racing to deploy gigawatts of computing capacity, but the chips, networking equipment, and data centers required to support that expansion cost tens of billions of dollars. That is creating an opening for companies that can do more than manufacture the hardware.
Broadcom (AVGO) appears to be exploiting that opening. It is reportedly negotiating a financing package that could exceed $60 billion in senior debt and approach $100 billion when a potential $30 billion junior tranche is included. Apollo Global Management (APO) and Blackstone (BX) are considering participation.
Google Is Reportedly Working with AMD for Its New TPU. What This Means for AMD Stock.
IREN Just Passed Its Biggest AI Test as Microsoft and Nvidia Bet Billions
Paul Tudor Jones Just Liquidated His Entire Stake in Applied Materials Stock. I Don't Think He's 100% Bearish on AI Though… Yet
#reportedly #broadcom
Broadcom (AVGO) appears to be exploiting that opening. It is reportedly negotiating a financing package that could exceed $60 billion in senior debt and approach $100 billion when a potential $30 billion junior tranche is included. Apollo Global Management (APO) and Blackstone (BX) are considering participation.
Google Is Reportedly Working with AMD for Its New TPU. What This Means for AMD Stock.
IREN Just Passed Its Biggest AI Test as Microsoft and Nvidia Bet Billions
Paul Tudor Jones Just Liquidated His Entire Stake in Applied Materials Stock. I Don't Think He's 100% Bearish on AI Though… Yet
#reportedly #broadcom
