8 days ago
Michael Douglas reflects on his decades-long career and personal life in his new memoir One **** uva Ride, available now
In this week's PEOPLE cover story, he opens up about sharing deeply personal stories about his drug use and affairs
The two-time Oscar winner also reflects on family, legacy and life after his cancer diagnosis
Michael Douglas once had dreams of being a race car driver after burning rubber at 150 mph with Steve McQueen in the late star's Porsche 908.
For his PEOPLE cover shoot more than 50 years later, he's cruising through the streets of New York City in a 1962 Aston Martin convertible, a rare vintage sports car that would turn the head of even Wall Street's Gordon Gekko.
#personal #life #ride #oscar
In this week's PEOPLE cover story, he opens up about sharing deeply personal stories about his drug use and affairs
The two-time Oscar winner also reflects on family, legacy and life after his cancer diagnosis
Michael Douglas once had dreams of being a race car driver after burning rubber at 150 mph with Steve McQueen in the late star's Porsche 908.
For his PEOPLE cover shoot more than 50 years later, he's cruising through the streets of New York City in a 1962 Aston Martin convertible, a rare vintage sports car that would turn the head of even Wall Street's Gordon Gekko.
#personal #life #ride #oscar
24 days ago
Cloudflare's Q2 beat and reaccelerating growth (36% revenue growth, 120% net dollar retention, record large customer adds) pushed NET stock to new highs, but the market has already paid up: NTM EV/Revenue sits at 35.17x, just below its all-time high of 36.30x and well above its roughly two-year average of 22.30x.
Free cash flow margin, the exact metric management points to as evidence of a credible path to GAAP profitability by 2028, has fallen for two straight quarters, from 14.55% in Q1 2026 to 9.71% in Q2 2026, even as severance and restructuring costs climbed toward $165 million for the year.
President Michelle Zatlyn, CFO Thomas Seifert, and director John Graham-Cumming all sold stock in August and September, Zatlyn alone disposing of roughly $44 million across two separate filings, while the company also raised $2.175 billion in convertible debt despite already holding $4.2 billion in cash.
Street consensus, which saw NET stock as 13% to 22% undervalued for most of late 2025 and early 2026, has now caught up: the mean ****** yst target of $336.81 sits just 4% above the September 18 close of $323.60, a far thinner cushion than investors had earlier in the rally.
Cloudflare's second quarter gave bulls plenty to like. Revenue grew 36% year over year to $696.1 million, beating the $665.5 million ****** yst estimate. The company added a record 986 large customers over the trailing year and net dollar retention accelerated to 120%, up six points from a year earlier. Management used that momentum to lean harder into its Act 4 story, the plan to turn Cloudflare's network into infrastructure for agentic commerce through products like Monetization Gateway, Wallets, and cloudflare.pay.
#revenue #dollar
Free cash flow margin, the exact metric management points to as evidence of a credible path to GAAP profitability by 2028, has fallen for two straight quarters, from 14.55% in Q1 2026 to 9.71% in Q2 2026, even as severance and restructuring costs climbed toward $165 million for the year.
President Michelle Zatlyn, CFO Thomas Seifert, and director John Graham-Cumming all sold stock in August and September, Zatlyn alone disposing of roughly $44 million across two separate filings, while the company also raised $2.175 billion in convertible debt despite already holding $4.2 billion in cash.
Street consensus, which saw NET stock as 13% to 22% undervalued for most of late 2025 and early 2026, has now caught up: the mean ****** yst target of $336.81 sits just 4% above the September 18 close of $323.60, a far thinner cushion than investors had earlier in the rally.
Cloudflare's second quarter gave bulls plenty to like. Revenue grew 36% year over year to $696.1 million, beating the $665.5 million ****** yst estimate. The company added a record 986 large customers over the trailing year and net dollar retention accelerated to 120%, up six points from a year earlier. Management used that momentum to lean harder into its Act 4 story, the plan to turn Cloudflare's network into infrastructure for agentic commerce through products like Monetization Gateway, Wallets, and cloudflare.pay.
#revenue #dollar
25 days ago
If you are looking for reliable high yields in the energy sector, Energy Transfer (NYSE: ET) is likely to be high up on the list of options. And Wall Street really likes the stock, with 19 of the 21 ***** ysts covering it rating it a buy or strong buy. And yet, I just can't get myself to buy it, instead owning lower-yielding Enbridge (NYSE: ENB). Here's why Energy Transfer's 6.3% yield, despite distribution coverage of 2.2x, isn't enough to get me to buy it.
Before getting to Energy Transfer, I want to highlight some facts about Enbridge, the North American pipeline giant I actually bought. For starters, Enbridge's yield is 5.8%, roughly half a percentage point lower. That's a big difference, as buying Energy Transfer would increase my income stream by nearly 9%.
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 »
I can totally understand where a dividend investor would buy Energy Transfer for the added yield. But there's a big difference when you consider dividend history. Enbridge has increased its dividend annually for 31 consecutive years. Energy Transfer cut its distribution in 2020 during the COVID pandemic, right when most investors would probably have preferred dividend consistency. To Energy Transfer's credit, it lived up to its promise at the time to reduce leverage and return to distribution growth. In fact, the distribution is now above its level prior to the cut. And the cut was probably the right decision to make for the business.
But that distribution cut was a hit for unitholders. And it comes after another questionable situation back during the 1996 energy market downturn. At that point, Energy Transfer agreed to buy peer Williams (NYSE: WMB), but got cold feet. In an effort to scuttle the deal, Energy Transfer issued convertibles that appeared to protect insiders from a dividend cut, if one were made. The Williams deal was canceled, and the convertibles never became an issue, but it raised material trust issues for me.
#distribution #Dividend #yield
Before getting to Energy Transfer, I want to highlight some facts about Enbridge, the North American pipeline giant I actually bought. For starters, Enbridge's yield is 5.8%, roughly half a percentage point lower. That's a big difference, as buying Energy Transfer would increase my income stream by nearly 9%.
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 »
I can totally understand where a dividend investor would buy Energy Transfer for the added yield. But there's a big difference when you consider dividend history. Enbridge has increased its dividend annually for 31 consecutive years. Energy Transfer cut its distribution in 2020 during the COVID pandemic, right when most investors would probably have preferred dividend consistency. To Energy Transfer's credit, it lived up to its promise at the time to reduce leverage and return to distribution growth. In fact, the distribution is now above its level prior to the cut. And the cut was probably the right decision to make for the business.
But that distribution cut was a hit for unitholders. And it comes after another questionable situation back during the 1996 energy market downturn. At that point, Energy Transfer agreed to buy peer Williams (NYSE: WMB), but got cold feet. In an effort to scuttle the deal, Energy Transfer issued convertibles that appeared to protect insiders from a dividend cut, if one were made. The Williams deal was canceled, and the convertibles never became an issue, but it raised material trust issues for me.
#distribution #Dividend #yield
25 days ago
CoreWeave (NASDAQ: CRWV) stock was rocked on Thursday. The artificial intelligence (AI) cloud company's shares closed down more than 5% on news of two fundraising measures it announced that morning.
CoreWeave announced an at-the-market (ATM) issue of its publicly traded Class A common stock. Up to 35 million shares are to be sold in a public offering by a large syndicate of sales agents.
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 »
The company said it will use its share of the proceeds "to provide ongoing financing flexibility and to support CoreWeave's objective of migrating its enterprise credit profile toward investment grade."
The company also announced an issue of convertible senior notes. It will float $3 billion worth of the securities, which mature in 2033 if not converted, in a private offering. The company intends to offer the initial purchasers of the note up to a total of $500 million in additional aggregate principal amount of notes.
#shares
CoreWeave announced an at-the-market (ATM) issue of its publicly traded Class A common stock. Up to 35 million shares are to be sold in a public offering by a large syndicate of sales agents.
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 »
The company said it will use its share of the proceeds "to provide ongoing financing flexibility and to support CoreWeave's objective of migrating its enterprise credit profile toward investment grade."
The company also announced an issue of convertible senior notes. It will float $3 billion worth of the securities, which mature in 2033 if not converted, in a private offering. The company intends to offer the initial purchasers of the note up to a total of $500 million in additional aggregate principal amount of notes.
#shares
25 days ago
CoreWeave (NASDAQ:CRWV), a GPU-accelerated cloud infrastructure provider, closed at $79.88, down 4.16%. The stock fell after CoreWeave announced convertible debt and a share sale, and investors are watching financing costs and infrastructure expansion.
Trading volume reached 78.3 million shares, coming in about 176% above its three-month average of 28.4 million shares. CoreWeave IPO'd in 2025 and has doubled since going public.
The S&P 500 (SNPINDEX:^GSPC) closed at 7,637, up 1.13%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 26,418, up 1.69%. Among specialized cloud computing and AI infrastructure services peers, Nebius Group (NASDAQ:NBIS) closed at $217.99, up 4.12%, and Iren (NASDAQ:IREN) closed at $43.48, up 2.02%, as investors kept weighing AI buildout demand against funding needs.
It's important to note why CoreWeave stock dropped while shares of its closest peers rose sharply today. The companies are in a capital-intensive spending growth stretch. Demand for high-powered compute cloud ******* e for AI is huge, and CoreWeave announced today that it would raise money to meet that demand in two ways.
Its share offering and convertible bond offering are both likely to be dilutive to shareholders. But it takes money to make money, and CoreWeave also reinforced today that it is raising prices for its compute cloud contracts.
But the debt and share issuance contrasts with the solid cash position of peer Iren, for example. Iren has built up cash from its existing crypto mining operations.
#iren #infrastructure #shares
Trading volume reached 78.3 million shares, coming in about 176% above its three-month average of 28.4 million shares. CoreWeave IPO'd in 2025 and has doubled since going public.
The S&P 500 (SNPINDEX:^GSPC) closed at 7,637, up 1.13%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 26,418, up 1.69%. Among specialized cloud computing and AI infrastructure services peers, Nebius Group (NASDAQ:NBIS) closed at $217.99, up 4.12%, and Iren (NASDAQ:IREN) closed at $43.48, up 2.02%, as investors kept weighing AI buildout demand against funding needs.
It's important to note why CoreWeave stock dropped while shares of its closest peers rose sharply today. The companies are in a capital-intensive spending growth stretch. Demand for high-powered compute cloud ******* e for AI is huge, and CoreWeave announced today that it would raise money to meet that demand in two ways.
Its share offering and convertible bond offering are both likely to be dilutive to shareholders. But it takes money to make money, and CoreWeave also reinforced today that it is raising prices for its compute cloud contracts.
But the debt and share issuance contrasts with the solid cash position of peer Iren, for example. Iren has built up cash from its existing crypto mining operations.
#iren #infrastructure #shares
26 days ago
Wealthfront Corporation (NASDAQ:WLTH) reported on September 9 that fiscal second-quarter revenue increased 1% to $91.9 million, despite platform ***** ets rising 12% to $99 billion. The quarter ended July 31, 2026. Funded clients increased 14% to 1.51 million, and platform ***** ets surpassed $100 billion by the end of August.
Platform ***** ets measure financial ***** ets held in client accounts. Their growth reflects both net deposits and market movements, so the headline increase does not represent new client money alone.
Adjusted EBITDA declined 15% to $38.1 million, with its margin falling to 41% from 49%. Wealthfront Corporation (NASDAQ:WLTH) defines this non-GAAP measure as net income excluding interest expense, income taxes, depreciation and amortization, stock-based compensation, fair-value changes in convertible notes, warrant liabilities and simple agreements for future equity, and nonrecurring expenses. Adjusted EBITDA margin divides that figure by revenue.
The advisory business is translating ***** et growth into revenue. Investment advisory ***** ets increased 30% to $54.1 billion, while advisory revenue rose 31% to $28.8 million. Those results show that the expanding investment business is generating a larger recurring fee stream.
For Wealthfront Corporation (NASDAQ:WLTH), this creates an opportunity to deepen client relationships as savings move toward longer-term investment goals. A growing advisory base could support more durable relationships, provided clients remain invested and continue contributing.
#wealthfront #revenue #platform #investment
Platform ***** ets measure financial ***** ets held in client accounts. Their growth reflects both net deposits and market movements, so the headline increase does not represent new client money alone.
Adjusted EBITDA declined 15% to $38.1 million, with its margin falling to 41% from 49%. Wealthfront Corporation (NASDAQ:WLTH) defines this non-GAAP measure as net income excluding interest expense, income taxes, depreciation and amortization, stock-based compensation, fair-value changes in convertible notes, warrant liabilities and simple agreements for future equity, and nonrecurring expenses. Adjusted EBITDA margin divides that figure by revenue.
The advisory business is translating ***** et growth into revenue. Investment advisory ***** ets increased 30% to $54.1 billion, while advisory revenue rose 31% to $28.8 million. Those results show that the expanding investment business is generating a larger recurring fee stream.
For Wealthfront Corporation (NASDAQ:WLTH), this creates an opportunity to deepen client relationships as savings move toward longer-term investment goals. A growing advisory base could support more durable relationships, provided clients remain invested and continue contributing.
#wealthfront #revenue #platform #investment
27 days ago
Axon Enterprise (AXON) shares are slipping on Tuesday morning after the public safety tech firm announced plans for a $1 billion debt offering. In its press release, management said it wants to raise fresh capital by offering 0% convertible senior notes due in late 2031.
The announcement arrives as Axon stock has already fallen out of favor with investors, currently down about 30% versus its August high.
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#Stock
The announcement arrives as Axon stock has already fallen out of favor with investors, currently down about 30% versus its August high.
Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week — But Not Because of Oil Prices.
Billionaire Charlie Munger, Who Died at 99, Skipped Insurance on His Mansion Since He Could Just Write a Check to Rebuild — 'All Intelligent People Do It My Way'
The EV Bubble Has Burst. How to Play Rivian Stock Now.
#Stock
27 days ago
I last wrote about the dollar index on Barchart on July 23, 2026, when I asked if the index that measures the U.S. currency against the world's other leading convertible reserve currencies. I concluded the article with the following:
A weaker dollar, even if the dollar index moves higher, could fuel inflation, pushing prices of all ***** ets higher, including commodities, stocks, cryptocurrencies, and even bonds if central banks turn on liquidity faucets during a crisis as they did in 2020. Higher ***** et prices may only reflect the declining purchasing power of the world's reserve currency.
Dollar Rises on Surging Crude Prices and T-Note Yields
Dollar Edges Higher as Stocks Fall and Crude Oil Rallies
Dollar Supported by Higher Crude Prices and T-Note Yields
#index #yields
A weaker dollar, even if the dollar index moves higher, could fuel inflation, pushing prices of all ***** ets higher, including commodities, stocks, cryptocurrencies, and even bonds if central banks turn on liquidity faucets during a crisis as they did in 2020. Higher ***** et prices may only reflect the declining purchasing power of the world's reserve currency.
Dollar Rises on Surging Crude Prices and T-Note Yields
Dollar Edges Higher as Stocks Fall and Crude Oil Rallies
Dollar Supported by Higher Crude Prices and T-Note Yields
#index #yields
28 days ago
Axon Enterprise (NASDAQ:AXON) shares fell 5% on Tuesday after the public safety technology company announced plans to offer $1 billion of 0% convertible senior notes due 2031.
The notes will be offered through a public offering registered under the Securities Act of 1933. Axon also expects to grant the underwriters an option to purchase up to an additional $150 million of notes to cover over-allotments.
The securities will mature on September 15, 2031, unless they are converted, redeemed or repurchased earlier. They will be senior unsecured obligations and will not carry regular interest.
Upon conversion, Axon may settle the notes in cash, shares of its common stock or a combination of the two, at the company's election.
Axon said it plans to use part of the net proceeds to fund capped call transactions ******* ociated with the offering.
#senior #enterprise
The notes will be offered through a public offering registered under the Securities Act of 1933. Axon also expects to grant the underwriters an option to purchase up to an additional $150 million of notes to cover over-allotments.
The securities will mature on September 15, 2031, unless they are converted, redeemed or repurchased earlier. They will be senior unsecured obligations and will not carry regular interest.
Upon conversion, Axon may settle the notes in cash, shares of its common stock or a combination of the two, at the company's election.
Axon said it plans to use part of the net proceeds to fund capped call transactions ******* ociated with the offering.
#senior #enterprise
1 month ago
To summarize my investment approach, I prefer to buy companies with long histories of dividend increases and historically high yields. Those two traits don't come around all that often, and sometimes I find clusters of stocks in specific sectors. I need to think specifically about diversification, one of the simplest and most effective ways to reduce risk. Here's how I've done it as I've built my portfolio of around 34 investments.
The Motley Fool recommends that investors own 50 stocks. That's a perfectly fine number, but also a lot of work. And just owning 50 stocks doesn't actually mean you are diversified. You could own 50 technology stocks, for example, which would leave you with exposure to just a single sector. That's not diversification. Diversification is really about owning a reasonable number of investments across a wide range of sectors and ****** et classes.
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 »
My first step toward diversification was to take an honest look at what I want to achieve and what I'm capable of. My goal is a mixture of income and capital appreciation. I am fairly confident in my ability to select dividend stocks, though every investor makes mistakes from time to time, and I know I can only juggle so many stocks at once. In other words, 50 stocks are too many for me, so a core part of my diversification strategy is to outsource some of my work.
For example, I own two Baron mutual funds to gain exposure to growth stocks and smaller companies. I own several closed-end funds: one focused on healthcare stocks with an option income overlay, one investing in convertible securities, and one with a broadly diversified dividend portfolio. And I own three exchange-traded funds: one with an option income focus and two that use very different screening approaches to pick dividend stocks.
#Diversification #funds
The Motley Fool recommends that investors own 50 stocks. That's a perfectly fine number, but also a lot of work. And just owning 50 stocks doesn't actually mean you are diversified. You could own 50 technology stocks, for example, which would leave you with exposure to just a single sector. That's not diversification. Diversification is really about owning a reasonable number of investments across a wide range of sectors and ****** et classes.
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 »
My first step toward diversification was to take an honest look at what I want to achieve and what I'm capable of. My goal is a mixture of income and capital appreciation. I am fairly confident in my ability to select dividend stocks, though every investor makes mistakes from time to time, and I know I can only juggle so many stocks at once. In other words, 50 stocks are too many for me, so a core part of my diversification strategy is to outsource some of my work.
For example, I own two Baron mutual funds to gain exposure to growth stocks and smaller companies. I own several closed-end funds: one focused on healthcare stocks with an option income overlay, one investing in convertible securities, and one with a broadly diversified dividend portfolio. And I own three exchange-traded funds: one with an option income focus and two that use very different screening approaches to pick dividend stocks.
#Diversification #funds
1 month ago
Semiconductor industry leader Nvidia Corporation (NVDA) has expanded its collaboration with Taiwanese fabless semiconductor company MediaTek to co-develop next-gen AI computing platforms.
The centerpiece of this expanded partnership is MediaTek's adoption of Nvidia's NVLink Fusion interconnect. This lets MediaTek's customers design custom AI accelerators (XPUs) that plug into Nvidia's rack-scale AI factories. To show its commitment, Nvidia has also invested $3.5 billion in convertible bonds issued by MediaTek, giving the company the capital needed to develop these NVLink-supported chips.
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#time #semiconductor #expanded #company
The centerpiece of this expanded partnership is MediaTek's adoption of Nvidia's NVLink Fusion interconnect. This lets MediaTek's customers design custom AI accelerators (XPUs) that plug into Nvidia's rack-scale AI factories. To show its commitment, Nvidia has also invested $3.5 billion in convertible bonds issued by MediaTek, giving the company the capital needed to develop these NVLink-supported chips.
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#time #semiconductor #expanded #company
1 month ago
Startups spend years courting brand-name investors to build credibility before they go public. Rarely does one of those investors also happen to be the company's biggest supplier, and in a roundabout way, one of its own paying customers.
Nscale, a two-year-old British AI cloud computing firm, is negotiating to raise up to $3.5 billion ahead of a planned U.S. stock listing, according to Bloomberg.
Nvidia (NVDA) is expected to supply about $2 billion of that financing, with hedge fund Third Point leading a separate tranche of convertible notes and Goldman Sachs running the process.
The arrangement would make Nscale's chip supplier one of its largest shareholders just weeks before the company asks public investors to back a valuation roughly double its last private round.
Related: Nvidia stock flashes unusual signal for investors
#investors #public #rarely
Nscale, a two-year-old British AI cloud computing firm, is negotiating to raise up to $3.5 billion ahead of a planned U.S. stock listing, according to Bloomberg.
Nvidia (NVDA) is expected to supply about $2 billion of that financing, with hedge fund Third Point leading a separate tranche of convertible notes and Goldman Sachs running the process.
The arrangement would make Nscale's chip supplier one of its largest shareholders just weeks before the company asks public investors to back a valuation roughly double its last private round.
Related: Nvidia stock flashes unusual signal for investors
#investors #public #rarely
1 month ago
On August 6, Ligand Pharmaceuticals (NASDAQ:LGND) reported second-quarter 2026 results showing royalty revenue up 32% year over year, just weeks after the company closed its acquisition of XOMA Royalty. Total revenue reached $63.7 million for the quarter, up from $47.6 million a year earlier, and Ligand raised the low end of its full-year adjusted earnings guidance. The headline growth numbers are easy to like. What is harder to ignore is that Ligand just more than doubled its royalty portfolio and added $700 million in convertible debt in the same stretch.
Royalty revenue is where Ligand's growth is actually coming from, and it has been strong on its own merits. Royalties totaled $48.0 million in the second quarter, up from $36.4 million a year earlier, with Travere Therapeutics' Filspari, Pelthos Therapeutics' Zelsuvmi, and Merck's Ohtuvayre leading the increase. That growth compounded further in the first half, when royalties reached $91.0 million, up 42% from $63.9 million a year ago. The Filspari story helps explain why: the FDA approved the drug in April to treat FSGS, a second rare kidney disease beyond its original approval, and Travere reported $141 million in US net sales in early August, up 96% year over year.
Then there is the XOMA deal. On July 14, Ligand closed its acquisition of XOMA Royalty, adding more than 120 commercial, clinical, and preclinical **** ets, including Roche's Vabysmo, Servier's Ojemda, and Zevra Therapeutics' Miplyffa. That pushed Ligand's total portfolio past 200 royalty **** ets, more than double what it held before. Management expects the deal to add roughly $0.50 per share to 2026 adjusted earnings and $1.50 per share in 2027, and it came with about $700 million in deployable capital left over to keep buying royalty streams at a stated pace of $150 million to $250 million a year.
That growth is not coming cheap. G&A expense jumped to $29.1 million in the second quarter from $20.2 million a year earlier, driven by transaction costs tied to the XOMA deal along with higher headcount and stock compensation. R&D expense nearly tripled to $14.7 million, largely because of a $12.3 million funding arrangement with Orchestra BioMed. A large share of the quarter's reported profit also did not come from the royalty business at all: net non-operating income of $55.7 million included a $35.7 million non-cash gain tied to swings in the value of Ligand's Pelthos Therapeutics stock holdings, a figure that can move the other way just as easily.
#reported
Royalty revenue is where Ligand's growth is actually coming from, and it has been strong on its own merits. Royalties totaled $48.0 million in the second quarter, up from $36.4 million a year earlier, with Travere Therapeutics' Filspari, Pelthos Therapeutics' Zelsuvmi, and Merck's Ohtuvayre leading the increase. That growth compounded further in the first half, when royalties reached $91.0 million, up 42% from $63.9 million a year ago. The Filspari story helps explain why: the FDA approved the drug in April to treat FSGS, a second rare kidney disease beyond its original approval, and Travere reported $141 million in US net sales in early August, up 96% year over year.
Then there is the XOMA deal. On July 14, Ligand closed its acquisition of XOMA Royalty, adding more than 120 commercial, clinical, and preclinical **** ets, including Roche's Vabysmo, Servier's Ojemda, and Zevra Therapeutics' Miplyffa. That pushed Ligand's total portfolio past 200 royalty **** ets, more than double what it held before. Management expects the deal to add roughly $0.50 per share to 2026 adjusted earnings and $1.50 per share in 2027, and it came with about $700 million in deployable capital left over to keep buying royalty streams at a stated pace of $150 million to $250 million a year.
That growth is not coming cheap. G&A expense jumped to $29.1 million in the second quarter from $20.2 million a year earlier, driven by transaction costs tied to the XOMA deal along with higher headcount and stock compensation. R&D expense nearly tripled to $14.7 million, largely because of a $12.3 million funding arrangement with Orchestra BioMed. A large share of the quarter's reported profit also did not come from the royalty business at all: net non-operating income of $55.7 million included a $35.7 million non-cash gain tied to swings in the value of Ligand's Pelthos Therapeutics stock holdings, a figure that can move the other way just as easily.
#reported
1 month ago
On August 6, PENN Entertainment (NASDAQ:PENN) reported second-quarter results that flipped from a year-ago loss into a profit. Net income came in at $32.6 million, compared with a loss of $18.3 million in the same quarter of 2025. Revenue rose to $1.86 billion from $1.77 billion, and Adjusted EBITDA climbed to $312.6 million from $236.1 million. Diluted earnings per share landed at $0.24, versus a loss per share of $0.12 a year earlier. For a company whose digital business has weighed on results for years, that combination stands out.
The Retail segment, which covers PENN's casino properties across the Northeast, South, West and Midwest, generated $1.5 billion in revenue and $517.2 million in Segment Adjusted EBITDAR, a margin of 34.4%. Nine properties posted their best second quarter ever for both revenue and Adjusted EBITDAR, a sign the strength wasn't confined to one or two markets. June brought two new additions to the portfolio: a hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora, both of which the company said are already drawing strong visitation.
The balance sheet also moved in the right direction. Total liquidity stood at $1.9 billion as of June 30, including $887.2 million in cash. Traditional net debt fell to $1,927.5 million from $2,217.5 million at the end of 2025, pulling traditional net leverage down to 2.9 times from 4.5 times over that span. Capital expenditures dropped to $97.5 million in the quarter from $159.4 million a year earlier. On May 15, PENN repaid the remaining $106.7 million balance of its 2.75% convertible notes, wiping out roughly 4.6 million potentially dilutive shares in the process.
The Interactive segment still lost money, an Adjusted EBITDA loss of $9.5 million, though that's a sharp improvement from the $62.0 million loss posted in the second quarter of 2025. Revenue for the segment reached $349.4 million, but $185.5 million of that figure came from a tax gross-up rather than actual wagering activity, a distinction that matters when sizing up the segment's real growth. PENN also leaned on refinancing to manage its debt load rather than paying it down outright: on April 16, it extended its $1.0 billion revolving credit facility and $446.9 million term loan A to 2031, and on May 28, it repriced and extended its term loan B facility to 2033.
Total traditional debt still sat at $2,814.7 million at quarter's end. Other expenses jumped to $43.0 million for the first six months of 2026 from just $2.2 million a year earlier, driven by transaction costs, severance tied to a corporate reorganization, and settlement costs connected to the company's cooperation agreement with HG Vora Capital Management. Cash rent payments to REIT landlords also remained a heavy recurring cost, $247.1 million for the quarter alone.
#revenue
The Retail segment, which covers PENN's casino properties across the Northeast, South, West and Midwest, generated $1.5 billion in revenue and $517.2 million in Segment Adjusted EBITDAR, a margin of 34.4%. Nine properties posted their best second quarter ever for both revenue and Adjusted EBITDAR, a sign the strength wasn't confined to one or two markets. June brought two new additions to the portfolio: a hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora, both of which the company said are already drawing strong visitation.
The balance sheet also moved in the right direction. Total liquidity stood at $1.9 billion as of June 30, including $887.2 million in cash. Traditional net debt fell to $1,927.5 million from $2,217.5 million at the end of 2025, pulling traditional net leverage down to 2.9 times from 4.5 times over that span. Capital expenditures dropped to $97.5 million in the quarter from $159.4 million a year earlier. On May 15, PENN repaid the remaining $106.7 million balance of its 2.75% convertible notes, wiping out roughly 4.6 million potentially dilutive shares in the process.
The Interactive segment still lost money, an Adjusted EBITDA loss of $9.5 million, though that's a sharp improvement from the $62.0 million loss posted in the second quarter of 2025. Revenue for the segment reached $349.4 million, but $185.5 million of that figure came from a tax gross-up rather than actual wagering activity, a distinction that matters when sizing up the segment's real growth. PENN also leaned on refinancing to manage its debt load rather than paying it down outright: on April 16, it extended its $1.0 billion revolving credit facility and $446.9 million term loan A to 2031, and on May 28, it repriced and extended its term loan B facility to 2033.
Total traditional debt still sat at $2,814.7 million at quarter's end. Other expenses jumped to $43.0 million for the first six months of 2026 from just $2.2 million a year earlier, driven by transaction costs, severance tied to a corporate reorganization, and settlement costs connected to the company's cooperation agreement with HG Vora Capital Management. Cash rent payments to REIT landlords also remained a heavy recurring cost, $247.1 million for the quarter alone.
#revenue
1 month ago
Nvidia (NVDA) CEO Jensen Huang was asked on Monday whether the company's newest investment is the kind of circular financing investors keep worrying about, and he said it was not. "This is not circular because obviously they do their own business and we do our own business, and MediaTek is already incredibly profitable, incredibly successful," Huang told Bloomberg's Ed Ludlow in an interview alongside MediaTek CEO Rick Tsai on Aug. 31.
The deal that prompted the question is worth $3.5 billion, and one detail about it has been widely flattened. Nvidia is not buying MediaTek shares. It bought $3.5 billion of convertible bonds issued by the company, part of an overseas convertible offering of roughly $3.9 billion in which Alphabet (GOOGL) also participated at an undisclosed size. Nvidia holds debt that can convert later, not equity today, and the release names no conversion price, no valuation, and no resulting stake.
Dear GameStop Stock Fans, Mark Your Calendars for September 8
SMCI vs. CoreWeave: 1 AI Infrastructure Model Has the Bigger Opportunity
Why ***** ysts Think Sellas Life Sciences Stock Can Gain 150% From Here
#NVIDIA #mediatek #incredibly
The deal that prompted the question is worth $3.5 billion, and one detail about it has been widely flattened. Nvidia is not buying MediaTek shares. It bought $3.5 billion of convertible bonds issued by the company, part of an overseas convertible offering of roughly $3.9 billion in which Alphabet (GOOGL) also participated at an undisclosed size. Nvidia holds debt that can convert later, not equity today, and the release names no conversion price, no valuation, and no resulting stake.
Dear GameStop Stock Fans, Mark Your Calendars for September 8
SMCI vs. CoreWeave: 1 AI Infrastructure Model Has the Bigger Opportunity
Why ***** ysts Think Sellas Life Sciences Stock Can Gain 150% From Here
#NVIDIA #mediatek #incredibly
1 month ago
Ice Cube, fresh off driving the 2025 World Series trophy onto the Dodger Stadium turf in the back seat of a candy-blue Chevy convertible, didn't seem to notice Mark Walter.
As the legendary L.A. rapper bounced from the podium after commencing the on-field ceremonies at last year's World Series parade celebration, he began congratulating anybody and everybody in his path. Manager Dave Roberts, World Series MVP Yoshinobu Yamamoto, cult hero reliever Anthony Banda, team president Stan Kasten and countless others received high-fives and words of recognition. But purposefully or not, Cube strode right on by the man funding the entire operation, team owner Mark Walter.
Join or create a Yahoo Fantasy Football league for the 2026 NFL season
Moments later, Walter, sporting a black and gold "World Series Champions" T-shirt over a gray-blue ***** on-down like a CEO at a company picnic, addressed the crowd. He spoke for no more than 45 seconds, uttering no more than 70 words. The audience responded with a relatively tame yet appreciative cheer. Walter then inched back into the throng of players and staff as Kasten, wearing a gaudy leather jacket emblazoned with the L.A. skyline, took the mic.
The celebration rolled on. Surely, few in attendance gave the owner a second thought. Surely, Walter, mastermind and afterthought, was happy with that dynamic.
#celebration
As the legendary L.A. rapper bounced from the podium after commencing the on-field ceremonies at last year's World Series parade celebration, he began congratulating anybody and everybody in his path. Manager Dave Roberts, World Series MVP Yoshinobu Yamamoto, cult hero reliever Anthony Banda, team president Stan Kasten and countless others received high-fives and words of recognition. But purposefully or not, Cube strode right on by the man funding the entire operation, team owner Mark Walter.
Join or create a Yahoo Fantasy Football league for the 2026 NFL season
Moments later, Walter, sporting a black and gold "World Series Champions" T-shirt over a gray-blue ***** on-down like a CEO at a company picnic, addressed the crowd. He spoke for no more than 45 seconds, uttering no more than 70 words. The audience responded with a relatively tame yet appreciative cheer. Walter then inched back into the throng of players and staff as Kasten, wearing a gaudy leather jacket emblazoned with the L.A. skyline, took the mic.
The celebration rolled on. Surely, few in attendance gave the owner a second thought. Surely, Walter, mastermind and afterthought, was happy with that dynamic.
#celebration
1 month ago
Nvidia (NVDA) just announced a $3.5 billion investment in MediaTek through convertible bonds, representing the chipmaker's largest direct investment outside the United States and signaling a decisive strategic pivot toward ecosystem expansion rather than pure GPU dominance. The deal, announced on Monday, August 31, sent MediaTek shares surging 10% in Taipei trading on Tuesday, hitting the daily trading limit as investors interpreted the move as a powerful endorsement of MediaTek's AI ambitions.
Under the expanded partnership, MediaTek will adopt Nvidia's NVLink Fusion platform, which enables custom AI chips built by third parties to integrate directly into Nvidia's rack-scale data center systems.
Dear Sandisk Stock Fans, Mark Your Calendars for August 31
Bill Gates Says 'We Need Time to Prepare' for an Economic Upheaval — Especially the $20-an-Hour Workers Being Replaced by $10-an-Hour Robots
Dear Palantir Stock Fans, Here's What Maven's Billion-Dollar ARR Means for PLTR
#trading
Under the expanded partnership, MediaTek will adopt Nvidia's NVLink Fusion platform, which enables custom AI chips built by third parties to integrate directly into Nvidia's rack-scale data center systems.
Dear Sandisk Stock Fans, Mark Your Calendars for August 31
Bill Gates Says 'We Need Time to Prepare' for an Economic Upheaval — Especially the $20-an-Hour Workers Being Replaced by $10-an-Hour Robots
Dear Palantir Stock Fans, Here's What Maven's Billion-Dollar ARR Means for PLTR
#trading
1 month ago
NVIDIA Corporation (NASDAQ:NVDA) is investing $3.5 billion in Taiwan-based MediaTek through convertible bonds, taking an existing AI partnership a step further. The two companies plan to work together on local AI computing and AI-powered vehicle platforms, while also bringing Nvidia's accelerated-computing technology into more markets.
The investment comes soon after Nvidia reported another strong quarter and projected roughly 70% revenue growth for fiscal 2028. That outlook suggests management still expects AI demand to grow rather than reach a peak. For NVDA investors, the key question is whether the MediaTek deal will create new demand for Nvidia's technology or is mainly another case of the company using its balance sheet to support the wider AI ecosystem.
The clearest positive is that the MediaTek partnership could expand NVIDIA Corporation (NASDAQ:NVDA)'s addressable market beyond traditional data centers. MediaTek has a strong presence in smartphones, consumer electronics, connectivity and automotive chips. Pairing that reach with Nvidia's accelerated-computing technology could help Nvidia bring AI computing to edge devices, PCs and vehicles. The companies also launched the RTX Spark PC chip in June, showing that the relationship goes beyond a financial investment.
The automotive opportunity could be especially important. Nvidia is trying to make its technology a broader computing platform rather than remain mainly a supplier of data-center GPUs. Working with a major chip designer such as MediaTek could give Nvidia another path into AI-powered vehicles and other edge applications.
Investing through convertible bonds also gives Nvidia a strategic benefit. The company is not simply providing MediaTek with capital. It is building a closer financial relationship while potentially gaining equity exposure. If MediaTek's business grows as a result of the partnership, Nvidia could benefit financially while also seeing greater demand for its own technology.
#computing #demand #corporation
The investment comes soon after Nvidia reported another strong quarter and projected roughly 70% revenue growth for fiscal 2028. That outlook suggests management still expects AI demand to grow rather than reach a peak. For NVDA investors, the key question is whether the MediaTek deal will create new demand for Nvidia's technology or is mainly another case of the company using its balance sheet to support the wider AI ecosystem.
The clearest positive is that the MediaTek partnership could expand NVIDIA Corporation (NASDAQ:NVDA)'s addressable market beyond traditional data centers. MediaTek has a strong presence in smartphones, consumer electronics, connectivity and automotive chips. Pairing that reach with Nvidia's accelerated-computing technology could help Nvidia bring AI computing to edge devices, PCs and vehicles. The companies also launched the RTX Spark PC chip in June, showing that the relationship goes beyond a financial investment.
The automotive opportunity could be especially important. Nvidia is trying to make its technology a broader computing platform rather than remain mainly a supplier of data-center GPUs. Working with a major chip designer such as MediaTek could give Nvidia another path into AI-powered vehicles and other edge applications.
Investing through convertible bonds also gives Nvidia a strategic benefit. The company is not simply providing MediaTek with capital. It is building a closer financial relationship while potentially gaining equity exposure. If MediaTek's business grows as a result of the partnership, Nvidia could benefit financially while also seeing greater demand for its own technology.
#computing #demand #corporation
1 month ago
GameStop stock climbed about 4% on Monday. The company paid $358.4 million in cash to stop a share count that could have continued to grow.
The payment freezes the deal at roughly 55.5 million new shares. That equals about 12% of GameStop's 448.7 million shares outstanding.
On August 3, GameStop agreed to swap $1.4 billion of zero-coupon convertible debt for stock. The company would hand over shares and pay nothing.
The catch sat in the pricing, as the share count depended on an average of GME's price over 35 trading days. A cheaper stock meant more shares.
Traders spotted the loop at once, and GME fell 12.25% that day to $19.06, down from $21.72 on July 31.
#Stock
The payment freezes the deal at roughly 55.5 million new shares. That equals about 12% of GameStop's 448.7 million shares outstanding.
On August 3, GameStop agreed to swap $1.4 billion of zero-coupon convertible debt for stock. The company would hand over shares and pay nothing.
The catch sat in the pricing, as the share count depended on an average of GME's price over 35 trading days. A cheaper stock meant more shares.
Traders spotted the loop at once, and GME fell 12.25% that day to $19.06, down from $21.72 on July 31.
#Stock
2 months ago
NexGen Energy Ltd. (NYSE:NXE) is making waves after CEO Leigh Curyer revealed active talks with mining giant BHP Group Limited (NYSE:BHP) on August 17 regarding a potential equity stake and financing for its flagship Rook I project in Saskatchewan. Having just broken ground on construction for what is slated to be one of the world's largest, lowest-cost uranium mines, NexGen is seeking to raise $1 billion in capital over the next nine months through prepayments, debt, or direct equity. The partnership discussion underscores growing institutional interest, but a side-by-side look at the financial health of both companies shows two fundamentally different investment propositions.
Photo from PBF Energy LinkedIn
NexGen Energy Ltd. (NYSE:NXE) represents a development-stage uranium exploration and development company with no commercial mining revenue. In Q2 2026, NexGen posted a net income of $74.55 million CAD (driven primarily by a non-cash mark-to-market gain of $96.47 million CAD on its convertible debentures), reversing a net loss of $86.69 million CAD in Q2 2025. The company maintains significant liquidity, holding $756.17 million CAD in cash alongside $214.08 million CAD in short-term investments as of June 30, 2026, for total cash and short-term investments of $970.25 million CAD. While its absence of operational revenues makes standard earnings metrics non-applicable, its **** et backing and project economics remain compelling.
In stark contrast, BHP Group Limited (NYSE:BHP) delivered a record operational year in FY2026, showcasing massive profitability across its global operations. BHP reported underlying EBITDA of $33 billion, up 27% year-over-year, achieving an overall margin of nearly 60%, driven by a record 70% margin in its copper business. Free cash flow surged 83% to $9.8 billion, allowing BHP to distribute a total annual dividend of $1.72 per share ($8.7 billion total) at a robust 66% payout ratio. BHP also slashed net debt to below $9 billion, more than $4 billion lower than the previous year, giving it huge financial flexibility to self-fund its $11 billion annual capex pipeline. Financially, BHP is far superior in stability, balance sheet strength, and immediate cash generation, whereas NexGen's value relies entirely on future execution.
NexGen Energy's bull case is centered on the successful construction of its Rook I project, which could give the company control over up to 20% of global primary uranium supply. Securing an equity partner such as BHP or obtaining utility prepayments could also help close its approximately $1 billion funding gap and significantly reduce project financing risk. However, the bear case is driven by the risks inherent in large-scale mining projects in remote northern regions, including unexpected capital cost overruns, construction delays, and regulatory hurdles. Additional equity raises could also dilute existing shareholders before the mine begins production.
#nexgen
Photo from PBF Energy LinkedIn
NexGen Energy Ltd. (NYSE:NXE) represents a development-stage uranium exploration and development company with no commercial mining revenue. In Q2 2026, NexGen posted a net income of $74.55 million CAD (driven primarily by a non-cash mark-to-market gain of $96.47 million CAD on its convertible debentures), reversing a net loss of $86.69 million CAD in Q2 2025. The company maintains significant liquidity, holding $756.17 million CAD in cash alongside $214.08 million CAD in short-term investments as of June 30, 2026, for total cash and short-term investments of $970.25 million CAD. While its absence of operational revenues makes standard earnings metrics non-applicable, its **** et backing and project economics remain compelling.
In stark contrast, BHP Group Limited (NYSE:BHP) delivered a record operational year in FY2026, showcasing massive profitability across its global operations. BHP reported underlying EBITDA of $33 billion, up 27% year-over-year, achieving an overall margin of nearly 60%, driven by a record 70% margin in its copper business. Free cash flow surged 83% to $9.8 billion, allowing BHP to distribute a total annual dividend of $1.72 per share ($8.7 billion total) at a robust 66% payout ratio. BHP also slashed net debt to below $9 billion, more than $4 billion lower than the previous year, giving it huge financial flexibility to self-fund its $11 billion annual capex pipeline. Financially, BHP is far superior in stability, balance sheet strength, and immediate cash generation, whereas NexGen's value relies entirely on future execution.
NexGen Energy's bull case is centered on the successful construction of its Rook I project, which could give the company control over up to 20% of global primary uranium supply. Securing an equity partner such as BHP or obtaining utility prepayments could also help close its approximately $1 billion funding gap and significantly reduce project financing risk. However, the bear case is driven by the risks inherent in large-scale mining projects in remote northern regions, including unexpected capital cost overruns, construction delays, and regulatory hurdles. Additional equity raises could also dilute existing shareholders before the mine begins production.
#nexgen
2 months ago
Strategy Inc (NASDAQ:MSTR) rallied along with Bitcoin. The cryptocurrency rally followed a White House meeting with industry executives, while the Treasury Department's expanded bond-buyback plans lowered long-term yields and weakened the dollar.
However, Strategy Inc (NASDAQ:MSTR) is not a simple leveraged Bitcoin fund. The company held 843,775 Bitcoin on July 26, sold 1,638 Bitcoin during July 27-August 2, and another 1,690 during August 3-9, leaving 840,447 Bitcoin. That position was worth approximately $57.5 billion at Wednesday's Bitcoin price, but the figure represents gross **** et value rather than value attributable to common shareholders.
Common issuance increases gross Bitcoin per share only when the Bitcoin acquired per incremental **** umed diluted share exceeds the existing ratio. Issuing above net **** et value alone is insufficient because the share denominator and use of proceeds determine the result. Strategy Inc (NASDAQ:MSTR) reported that its company-defined Bitcoin-per-share metric increased 5% during the second quarter to 210,824 satoshis.
Strategy Inc (NASDAQ:MSTR) also had a $4.80 billion reserve as of August 16, including unsettled at-the-market offering proceeds. The reserve provides a buffer for contractual debt interest and preferred dividends when declared, although the preferred series have different terms, including **** ulative provisions for certain securities. This liquidity reduces near-term dependence on favorable Bitcoin or capital-market conditions.
Strategy Inc (NASDAQ:MSTR) reported $6.7 billion of aggregate convertible principal and a $15.5 billion aggregate preferred notional amount in May. At June 30, preferred equity had a $14.44 billion carrying amount and a $15.46 billion liquidation preference; repurchases began after quarter-end. These claims sit ahead of common equity under a basic-share valuation framework.
#NASDAQ
However, Strategy Inc (NASDAQ:MSTR) is not a simple leveraged Bitcoin fund. The company held 843,775 Bitcoin on July 26, sold 1,638 Bitcoin during July 27-August 2, and another 1,690 during August 3-9, leaving 840,447 Bitcoin. That position was worth approximately $57.5 billion at Wednesday's Bitcoin price, but the figure represents gross **** et value rather than value attributable to common shareholders.
Common issuance increases gross Bitcoin per share only when the Bitcoin acquired per incremental **** umed diluted share exceeds the existing ratio. Issuing above net **** et value alone is insufficient because the share denominator and use of proceeds determine the result. Strategy Inc (NASDAQ:MSTR) reported that its company-defined Bitcoin-per-share metric increased 5% during the second quarter to 210,824 satoshis.
Strategy Inc (NASDAQ:MSTR) also had a $4.80 billion reserve as of August 16, including unsettled at-the-market offering proceeds. The reserve provides a buffer for contractual debt interest and preferred dividends when declared, although the preferred series have different terms, including **** ulative provisions for certain securities. This liquidity reduces near-term dependence on favorable Bitcoin or capital-market conditions.
Strategy Inc (NASDAQ:MSTR) reported $6.7 billion of aggregate convertible principal and a $15.5 billion aggregate preferred notional amount in May. At June 30, preferred equity had a $14.44 billion carrying amount and a $15.46 billion liquidation preference; repurchases began after quarter-end. These claims sit ahead of common equity under a basic-share valuation framework.
#NASDAQ
2 months ago
Expion360 Inc. (NASDAQ:XPON) shares closed at $6.20 on August 24, up 80.5% following the company's oil-and-gas acquisition and financing disclosures. The transactions reposition the lithium-battery specialist as a broader energy company. The company also announced a corporate name change to Expion Energy, Inc. as part of the expansion.
Expion360 Inc. (NASDAQ:XPON) paid an adjusted $3.425 million in cash for a company holding an Eastern Louisiana exploration prospect. The acquired ****** ets include approximately 3,000 net leasehold acres, an existing wellbore, mineral-title research covering approximately 13,000 net acres, and related intellectual property. The announcement did not include current production or an estimate of proved reserves.
The company financed the move through $9 million of convertible debentures, generating approximately $8.2 million of net proceeds after fees and expenses.
Expion360 Inc. (NASDAQ:XPON) acquired a defined exploration target rather than starting its acreage and geological work from scratch. The company plans to expand the leasehold and use commercially reasonable efforts to initiate a mandatory well operation involving a lateral wellbore of at least 4,000 feet by February 15, 2027, subject to specified exceptions.
The company expects to retain an approximately 75% net revenue interest after overriding royalty interests. New CEO Kevin Sellers also brings experience in upstream and midstream transactions, addressing part of the expertise gap created by the move beyond battery storage.
#approximately #energy #part
Expion360 Inc. (NASDAQ:XPON) paid an adjusted $3.425 million in cash for a company holding an Eastern Louisiana exploration prospect. The acquired ****** ets include approximately 3,000 net leasehold acres, an existing wellbore, mineral-title research covering approximately 13,000 net acres, and related intellectual property. The announcement did not include current production or an estimate of proved reserves.
The company financed the move through $9 million of convertible debentures, generating approximately $8.2 million of net proceeds after fees and expenses.
Expion360 Inc. (NASDAQ:XPON) acquired a defined exploration target rather than starting its acreage and geological work from scratch. The company plans to expand the leasehold and use commercially reasonable efforts to initiate a mandatory well operation involving a lateral wellbore of at least 4,000 feet by February 15, 2027, subject to specified exceptions.
The company expects to retain an approximately 75% net revenue interest after overriding royalty interests. New CEO Kevin Sellers also brings experience in upstream and midstream transactions, addressing part of the expertise gap created by the move beyond battery storage.
#approximately #energy #part
2 months ago
Genius Group (NYSE: $GNS), an education technology company based in Singapore, plans to raise capital to expand its AI and Bitcoin (CRYPTO: $BTC) treasuries.
The company said Thursday it is considering issuing perpetual preferred securities as part of a broader $1.2 billion capital plan. Genius Group has set a target of $800 million for its AI Treasury and $827 million for its Bitcoin Treasury, with a longer-term goal of reaching $2 billion in total **** ets by 2031.
The company plans to initially raise $12.5 million through the proposed preferred securities offering. The securities are expected to be non-convertible and carry a variable dividend paid monthly. Genius Group said proceeds would be divided between its AI investments, Bitcoin holdings, and a U.S. dollar reserve intended to cover about 18 months of preferred dividends.
More From Cryptoprowl:
Bernstein Forecasts Bitcoin Will Reach $150,000 By Mid-2027
#genius #million #plans #raise
The company said Thursday it is considering issuing perpetual preferred securities as part of a broader $1.2 billion capital plan. Genius Group has set a target of $800 million for its AI Treasury and $827 million for its Bitcoin Treasury, with a longer-term goal of reaching $2 billion in total **** ets by 2031.
The company plans to initially raise $12.5 million through the proposed preferred securities offering. The securities are expected to be non-convertible and carry a variable dividend paid monthly. Genius Group said proceeds would be divided between its AI investments, Bitcoin holdings, and a U.S. dollar reserve intended to cover about 18 months of preferred dividends.
More From Cryptoprowl:
Bernstein Forecasts Bitcoin Will Reach $150,000 By Mid-2027
#genius #million #plans #raise
2 months ago
On August 13, Ascendis Pharma (NASDAQ:ASND) reported second-quarter results that showed how far its rare disease portfolio has come. Total product revenue roughly doubled from a year earlier to €315 million, and for the first time all three of the company's approved TransCon therapies, SKYTROFA, YORVIPATH and YUVIWEL, were contributing meaningful sales in the same quarter. That combination is what management is leaning on to justify its 2030 revenue ambitions.
YORVIPATH, the hypoparathyroidism treatment, generated €252 million in the quarter and crossed blockbuster level on an annualized basis just two years after its U.S. launch, while reaching patients in more than 35 countries through either commercial sales or named patient access programs. Long-term trial data presented during the quarter showed response rates sustained between 82% and 86% on the combined endpoint, with patients still on therapy at a 95% rate five years after starting.
SKYTROFA, the once-weekly growth hormone therapy, crossed 20,000 unique patient enrollments and remains the best-selling long-acting growth hormone in the US as measured by brand value, contributing €55 million for the quarter. YUVIWEL, the newest of the three, launched commercially in the US during the quarter and brought in €8 million in its first quarter on the market. Enrollment kept climbing after the quarter closed, from more than 170 unique patients through June 30 to more than 220 by the end of July, with more than 65% of those patients already approved for reimbursement. Ascendis also ended the quarter with €812 million in cash and carries no bank debt or convertible debt, giving it room to keep funding these launches without outside financing.
The growth came with a steeper cost base. SG&A expenses rose to €173 million in the quarter from €145 million in the prior quarter, and R&D expenses climbed to €76 million from €59 million, a comparison made sharper by the fact that the prior quarter's figure had been reduced by a one-time €11 million reversal of earlier inventory write-downs. Reported operating profit of €220 million also leaned heavily on a one-time item, a €158 million gain tied to the sale of a PRV. Strip that out and non-IFRS operating profit was €92 million, a 27% margin that better reflects the underlying business. Total revenue of €339 million for the quarter also included €24 million of non-product collaboration revenue, including a €17 million milestone payment tied to TransCon CNP, money that will not repeat every quarter. And while YUVIWEL's early numbers are strong, formal regulatory decisions for the drug in the U.S. and European Union are not expected until the fourth quarter of 2026, meaning current sales are happening ahead of full approval.
#patients #time #transcon
YORVIPATH, the hypoparathyroidism treatment, generated €252 million in the quarter and crossed blockbuster level on an annualized basis just two years after its U.S. launch, while reaching patients in more than 35 countries through either commercial sales or named patient access programs. Long-term trial data presented during the quarter showed response rates sustained between 82% and 86% on the combined endpoint, with patients still on therapy at a 95% rate five years after starting.
SKYTROFA, the once-weekly growth hormone therapy, crossed 20,000 unique patient enrollments and remains the best-selling long-acting growth hormone in the US as measured by brand value, contributing €55 million for the quarter. YUVIWEL, the newest of the three, launched commercially in the US during the quarter and brought in €8 million in its first quarter on the market. Enrollment kept climbing after the quarter closed, from more than 170 unique patients through June 30 to more than 220 by the end of July, with more than 65% of those patients already approved for reimbursement. Ascendis also ended the quarter with €812 million in cash and carries no bank debt or convertible debt, giving it room to keep funding these launches without outside financing.
The growth came with a steeper cost base. SG&A expenses rose to €173 million in the quarter from €145 million in the prior quarter, and R&D expenses climbed to €76 million from €59 million, a comparison made sharper by the fact that the prior quarter's figure had been reduced by a one-time €11 million reversal of earlier inventory write-downs. Reported operating profit of €220 million also leaned heavily on a one-time item, a €158 million gain tied to the sale of a PRV. Strip that out and non-IFRS operating profit was €92 million, a 27% margin that better reflects the underlying business. Total revenue of €339 million for the quarter also included €24 million of non-product collaboration revenue, including a €17 million milestone payment tied to TransCon CNP, money that will not repeat every quarter. And while YUVIWEL's early numbers are strong, formal regulatory decisions for the drug in the U.S. and European Union are not expected until the fourth quarter of 2026, meaning current sales are happening ahead of full approval.
#patients #time #transcon
2 months ago
On August 13, Fermi Inc. (NASDAQ:FRMI) held its second-quarter earnings call and delivered exactly the kind of update a young power developer needs: proof that its plans are turning into contracts. Chairman Marius Haas told investors the company had hit all five commitments from a 90-day plan he laid out three months earlier, topped by a binding customer agreement with AI infrastructure company TensorWave. For a business that still has no meaningful revenue and years of construction ahead of it, a signed customer paired with visible progress on the ground is exactly what shareholders wanted to see.
The headline item is the TensorWave agreement itself: up to 650 megawatts of power if every expansion option is exercised, split across three phases. The initial phase is a 15-year commitment for 222 megawatts of gross power delivered through a turnkey data center solution, worth about $6.5 billion in revenue over that term. Chief Commercial Officer Anna Bofa described the deal as more than one customer's order, noting that the $6.5 billion figure is tied strictly to this Phase 1 commitment, while the campus holds a total expansion potential of up to 650 megawatts. This positions TensorWave as a gateway to hyperscalers and chipmakers that could add more workloads to the campus later on.
Fermi backed the contract with hardware. Three Siemens Energy F-class units, each rated above 242 megawatts, reached the Port of Houston in July and cleared customs to advance the company's 2028 and 2029 power delivery objectives, while a separate configuration of simple cycle turbines and utility power feeds the plan to deliver 640 megawatts of nameplate capacity by the fourth quarter of 2027, with the first 210 megawatts online by July 1, 2027. A new alliance with Hillcore Energy Partners adds another 2.6 gigawatts within three years, with Hillcore financing and building that facility while Fermi simply collects rent, doubling the campus's planned output to 4.8 gigawatts at no extra capital cost to Fermi. The quarter also brought a stronger balance sheet, via an upsized offering of more than $430 million in convertible senior notes, yielding approximately $382 million in net proceeds after a capped call, and a new chief executive in Lee McIntire, whose résumé includes running major projects at Bechtel, McDermott, and TerraPower.
Some of the biggest figures on the call still come with asterisks. The backstop agreement sitting behind the TensorWave lease wasn't finished as of the call, and Fermi hasn't named the counterparty standing behind it, only that a deal was expected within days. Management also said the broader campus can't break ground until project financing beyond this round is lined up, a reminder that the recent convertible note raise alone doesn't cover building out a multi-billion dollar site. The $6.5 billion figure is tied strictly to the initial Phase 1 commitment (222 megawatts), whereas the full 650-megawatt potential depends on future expansion o
The headline item is the TensorWave agreement itself: up to 650 megawatts of power if every expansion option is exercised, split across three phases. The initial phase is a 15-year commitment for 222 megawatts of gross power delivered through a turnkey data center solution, worth about $6.5 billion in revenue over that term. Chief Commercial Officer Anna Bofa described the deal as more than one customer's order, noting that the $6.5 billion figure is tied strictly to this Phase 1 commitment, while the campus holds a total expansion potential of up to 650 megawatts. This positions TensorWave as a gateway to hyperscalers and chipmakers that could add more workloads to the campus later on.
Fermi backed the contract with hardware. Three Siemens Energy F-class units, each rated above 242 megawatts, reached the Port of Houston in July and cleared customs to advance the company's 2028 and 2029 power delivery objectives, while a separate configuration of simple cycle turbines and utility power feeds the plan to deliver 640 megawatts of nameplate capacity by the fourth quarter of 2027, with the first 210 megawatts online by July 1, 2027. A new alliance with Hillcore Energy Partners adds another 2.6 gigawatts within three years, with Hillcore financing and building that facility while Fermi simply collects rent, doubling the campus's planned output to 4.8 gigawatts at no extra capital cost to Fermi. The quarter also brought a stronger balance sheet, via an upsized offering of more than $430 million in convertible senior notes, yielding approximately $382 million in net proceeds after a capped call, and a new chief executive in Lee McIntire, whose résumé includes running major projects at Bechtel, McDermott, and TerraPower.
Some of the biggest figures on the call still come with asterisks. The backstop agreement sitting behind the TensorWave lease wasn't finished as of the call, and Fermi hasn't named the counterparty standing behind it, only that a deal was expected within days. Management also said the broader campus can't break ground until project financing beyond this round is lined up, a reminder that the recent convertible note raise alone doesn't cover building out a multi-billion dollar site. The $6.5 billion figure is tied strictly to the initial Phase 1 commitment (222 megawatts), whereas the full 650-megawatt potential depends on future expansion o
2 months ago
Nebius Group (NBIS) stock slipped on Aug. 19 after the artificial intelligence (AI) infrastructure firm disclosed plans for a $4.5 billion convertible senior notes offering.
In its press release, management also revealed that private negotiations are ongoing to exchange a portion of the company's existing debt for its Class A common shares.
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#group
In its press release, management also revealed that private negotiations are ongoing to exchange a portion of the company's existing debt for its Class A common shares.
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CEO Lip-Bu Tan Just Bought Another 105,000 Shares of Intel Stock
#group
2 months ago
By Toby Sterling and Rashika Singh
AMSTERDAM, Aug 20 (Reuters) - Nebius Group said on Thursday its $5 billion convertible bond was one of the largest on record and reflected strong demand for AI services and data centre capacity, despite recent jitters over the sector's huge financing needs.
Amsterdam-based Nebius, which sells AI services to tech firms and data centre capacity to customers including Meta and Microsoft, raised the size from $4.5 billion late on Wednesday and the total could be increased to $5.75 billion if buyers exercise all options.
"We think it's one of the largest, and the largest in recent history, in the corporate convertible world," Nebius chief communications officer Tom Blackwell told Reuters, adding that the firm's total convertible debt is now around $12 billion.
Proceeds of the new offer, led by Goldman Sachs and JPMorgan, will be used to fund the company's data centre buildout and further develop its AI services offerings.
#convertible #reuters
AMSTERDAM, Aug 20 (Reuters) - Nebius Group said on Thursday its $5 billion convertible bond was one of the largest on record and reflected strong demand for AI services and data centre capacity, despite recent jitters over the sector's huge financing needs.
Amsterdam-based Nebius, which sells AI services to tech firms and data centre capacity to customers including Meta and Microsoft, raised the size from $4.5 billion late on Wednesday and the total could be increased to $5.75 billion if buyers exercise all options.
"We think it's one of the largest, and the largest in recent history, in the corporate convertible world," Nebius chief communications officer Tom Blackwell told Reuters, adding that the firm's total convertible debt is now around $12 billion.
Proceeds of the new offer, led by Goldman Sachs and JPMorgan, will be used to fund the company's data centre buildout and further develop its AI services offerings.
#convertible #reuters
2 months ago
By Toby Sterling and Rashika Singh
AMSTERDAM, Aug 20 (Reuters) - Nebius Group said on Thursday its $5 billion convertible bond was one of the largest on record and reflected strong demand for AI services and data centre capacity, despite recent jitters over the sector's huge financing needs.
Amsterdam-based Nebius, which sells AI services to tech firms and data centre capacity to customers including Meta and Microsoft, raised the size from $4.5 billion late on Wednesday and the total could be increased to $5.75 billion if buyers exercise all options.
"We think it's one of the largest, and the largest in recent history, in the corporate convertible world," Nebius chief communications officer Tom Blackwell told Reuters, adding that the firm's total convertible debt is now around $12 billion.
Proceeds of the new offer, led by Goldman Sachs and JPMorgan, will be used to fund the company's data centre buildout and further develop its AI services offerings.
#nebius #Services #centre #reuters
AMSTERDAM, Aug 20 (Reuters) - Nebius Group said on Thursday its $5 billion convertible bond was one of the largest on record and reflected strong demand for AI services and data centre capacity, despite recent jitters over the sector's huge financing needs.
Amsterdam-based Nebius, which sells AI services to tech firms and data centre capacity to customers including Meta and Microsoft, raised the size from $4.5 billion late on Wednesday and the total could be increased to $5.75 billion if buyers exercise all options.
"We think it's one of the largest, and the largest in recent history, in the corporate convertible world," Nebius chief communications officer Tom Blackwell told Reuters, adding that the firm's total convertible debt is now around $12 billion.
Proceeds of the new offer, led by Goldman Sachs and JPMorgan, will be used to fund the company's data centre buildout and further develop its AI services offerings.
#nebius #Services #centre #reuters
2 months ago
Crossroads Capital LLC, an investment management firm, published its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The Fund increased by 11.5% net of fees and expenses during the quarter. Since its founding, the fund has compounded at a net rate of 17.9%. By the end of June 2026, the fund's overall non-delta-adjusted gross and net exposures were 115.0% and 86.9%, respectively. In Q2, the S&P 500 rebounded 14.9%, its best since 2020, as market uncertainty eased. The oil market showed a transition, with Brent crude prices fluctuating. AI and semiconductors thrived, with 25% earnings growth. The quarter underscored a key principle: risk is priced continuously but resolved discontinuously. Small-cap benchmarks hit new highs, though the Magnificent 7 saw modest gains. In Q2, market activity focused on adjustments rather than facts, capitalizing on high option premiums. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Crossroads Capital highlighted Nebius Group N.V. (NASDAQ:NBIS). Nebius Group N.V. (NASDAQ:NBIS) is a technology company focusing on developing full-stack infrastructure to service the global AI industry. On August 19, 2026, Nebius Group N.V. (NASDAQ:NBIS) closed at $223.90 per share. The one-month return of Nebius Group N.V. (NASDAQ:NBIS) was 1.33%, and its shares gained 238.32% over the past 52 weeks. Nebius Group N.V. (NASDAQ:NBIS) has a market capitalization of $60.87 billion.
Crossroads Capital stated the following regarding Nebius Group N.V. (NASDAQ:NBIS) in its Q2 2026 investor letter:
"Eighteen months ago, Nebius Group N.V. (NASDAQ:NBIS) was a Russian-adjacent carve-out of Yandex, the Russian Google, with no anchor customer, a cash burn, and an open question as to whether capital markets would touch it. You had to squint at it in order to see a viable business that was arguably trading below liquidation value. On August 12th, the company reported a second quarter with $582.3 million in revenue and a 50% adjusted EBITDA margin in its core AI cloud business. Today Nebius is an AI infrastructure platform with roughly $46B of committed contract value from Microsoft and Meta, priority Nvidia silicon secured through Nvidia's own $2B equity stake, and a target of almost 5 GW of contracted power by year-end(with over 75% of it owned rather than leased). Moreover, it has a funding structure in which roughly 50-60% of capex is covered by customer prepayments; the balance was raised this spring as $4B of oversubscribed convertibles with coupons of 1.25% and 2.625%. Sub-1.3% paper to 2031 is the bond market's answer to any question regarding Nebius' long-term prospects—and a question we couldn't have fully answered a year ago at any price.
The Meta relationship remains the keystone: $27B over five years, split between $12B of dedicated capacity on one of the first large-scale Vera Rubin deployments (starting early 2027) and $15B on w
In its Q2 2026 investor letter, Crossroads Capital highlighted Nebius Group N.V. (NASDAQ:NBIS). Nebius Group N.V. (NASDAQ:NBIS) is a technology company focusing on developing full-stack infrastructure to service the global AI industry. On August 19, 2026, Nebius Group N.V. (NASDAQ:NBIS) closed at $223.90 per share. The one-month return of Nebius Group N.V. (NASDAQ:NBIS) was 1.33%, and its shares gained 238.32% over the past 52 weeks. Nebius Group N.V. (NASDAQ:NBIS) has a market capitalization of $60.87 billion.
Crossroads Capital stated the following regarding Nebius Group N.V. (NASDAQ:NBIS) in its Q2 2026 investor letter:
"Eighteen months ago, Nebius Group N.V. (NASDAQ:NBIS) was a Russian-adjacent carve-out of Yandex, the Russian Google, with no anchor customer, a cash burn, and an open question as to whether capital markets would touch it. You had to squint at it in order to see a viable business that was arguably trading below liquidation value. On August 12th, the company reported a second quarter with $582.3 million in revenue and a 50% adjusted EBITDA margin in its core AI cloud business. Today Nebius is an AI infrastructure platform with roughly $46B of committed contract value from Microsoft and Meta, priority Nvidia silicon secured through Nvidia's own $2B equity stake, and a target of almost 5 GW of contracted power by year-end(with over 75% of it owned rather than leased). Moreover, it has a funding structure in which roughly 50-60% of capex is covered by customer prepayments; the balance was raised this spring as $4B of oversubscribed convertibles with coupons of 1.25% and 2.625%. Sub-1.3% paper to 2031 is the bond market's answer to any question regarding Nebius' long-term prospects—and a question we couldn't have fully answered a year ago at any price.
The Meta relationship remains the keystone: $27B over five years, split between $12B of dedicated capacity on one of the first large-scale Vera Rubin deployments (starting early 2027) and $15B on w
2 months ago
On August 10, Plug Power (NASDAQ:PLUG) held its second-quarter earnings call, and the numbers pointed toward a company closing the gap between its long-promised turnaround and reality. Revenue climbed to $178 million, gross margin crept to nearly break-even, and management raised its full-year growth guidance for the second time this year. CEO Jose Luis Crespo framed the quarter as proof the business is executing, and the underlying figures back that up.
Revenue rose about 9% sequentially to $178 million, pushing first-half sales to $342 million, up 11% year-over-year. Management raised full-year revenue growth guidance to 15% to 16%, up from the 13% to 15% range given last quarter, citing visibility into a historically second-half-weighted business. Material handling was the standout. Plug deployed 1,670 GenDrive units in the quarter, more than doubling the 39 units deployed in the second quarter of last year. Service revenue grew 82% year-over-year to $29.8 million with a 27% margin, and two of the company's largest material handling customers are planning to refresh more than 20,000 GenDrive units over the next three years, a multi-year revenue base already locked in.
The electrolyzer segment added fresh wins too, including a 50 MW order tied to a final investment decision at the Hunter Valley Hydrogen Hub in Australia, a 30 MW UK project reaching FID, and selection for a 275 MW feed study in Quebec. Management also pointed to European regulation, including Spain's draft renewable fuels framework, as a potential driver of roughly 10 GW of electrolyzer demand by 2030.
Despite the progress, the business remains unprofitable across every segment. Gross margin was still negative at roughly -0.9%, and the fuel segment, while improved to -48.8% from -91% a year ago, remains deeply unprofitable. GAAP EPS was a loss of $0.14, weighed down by about $104 million in non-cash mark-to-market charges tied to convertible debt and warrants. The reported 50% year-over-year drop in operating expenses to $62 million leaned heavily on a $39.7 million recovery of previously impaired ****** ets, including a $37 million gain from a customer contract dispute settled in June, meaning the underlying cost base improved less than the headline number implies. Cash usage of $61 million for the quarter, while down 58% sequentially, still represents ongoing burn.
The company's liquidity plan depends in part on non-dilutive financing, including a July transaction expected to generate about $80 million from ****** et sales, of which only $47 million had been received as of the call. Positive EBITDA in the fourth quarter remains a target management reiterated rather than a result already delivered.
#year #revenue
Revenue rose about 9% sequentially to $178 million, pushing first-half sales to $342 million, up 11% year-over-year. Management raised full-year revenue growth guidance to 15% to 16%, up from the 13% to 15% range given last quarter, citing visibility into a historically second-half-weighted business. Material handling was the standout. Plug deployed 1,670 GenDrive units in the quarter, more than doubling the 39 units deployed in the second quarter of last year. Service revenue grew 82% year-over-year to $29.8 million with a 27% margin, and two of the company's largest material handling customers are planning to refresh more than 20,000 GenDrive units over the next three years, a multi-year revenue base already locked in.
The electrolyzer segment added fresh wins too, including a 50 MW order tied to a final investment decision at the Hunter Valley Hydrogen Hub in Australia, a 30 MW UK project reaching FID, and selection for a 275 MW feed study in Quebec. Management also pointed to European regulation, including Spain's draft renewable fuels framework, as a potential driver of roughly 10 GW of electrolyzer demand by 2030.
Despite the progress, the business remains unprofitable across every segment. Gross margin was still negative at roughly -0.9%, and the fuel segment, while improved to -48.8% from -91% a year ago, remains deeply unprofitable. GAAP EPS was a loss of $0.14, weighed down by about $104 million in non-cash mark-to-market charges tied to convertible debt and warrants. The reported 50% year-over-year drop in operating expenses to $62 million leaned heavily on a $39.7 million recovery of previously impaired ****** ets, including a $37 million gain from a customer contract dispute settled in June, meaning the underlying cost base improved less than the headline number implies. Cash usage of $61 million for the quarter, while down 58% sequentially, still represents ongoing burn.
The company's liquidity plan depends in part on non-dilutive financing, including a July transaction expected to generate about $80 million from ****** et sales, of which only $47 million had been received as of the call. Positive EBITDA in the fourth quarter remains a target management reiterated rather than a result already delivered.
#year #revenue
