6 hours ago
Updated on: October 4, 2026 / 7:28 PM EDT / CBS News
The U.S. Coast Guard on Sunday suspended the search for six people in a medical jet that went missing near Nantucket, Massachusetts, a day after debris from the plane was found.
Search and rescue crews operated for approximately 66 hours to locate four Canadians and two Bermudian nationals on the plane that was traveling to Boston from Bermuda early Saturday morning, according to the U.S. Coast Guard.
The Canadian-registered air ambulance jet had four crew members and two passengers aboard. Their next of kin have been notified, the Coast Guard said.
Earlier, the Coast Guard confirmed that a debris field belonging to the missing Gulfstream G-100 was found Saturday night. The search for the missing passengers continued overnight off the coast of Nantucket, according to the Coast Guard's Northeast District, and spanned 4,445 miles before it was suspended.
#missing #nantucket #found
The U.S. Coast Guard on Sunday suspended the search for six people in a medical jet that went missing near Nantucket, Massachusetts, a day after debris from the plane was found.
Search and rescue crews operated for approximately 66 hours to locate four Canadians and two Bermudian nationals on the plane that was traveling to Boston from Bermuda early Saturday morning, according to the U.S. Coast Guard.
The Canadian-registered air ambulance jet had four crew members and two passengers aboard. Their next of kin have been notified, the Coast Guard said.
Earlier, the Coast Guard confirmed that a debris field belonging to the missing Gulfstream G-100 was found Saturday night. The search for the missing passengers continued overnight off the coast of Nantucket, according to the Coast Guard's Northeast District, and spanned 4,445 miles before it was suspended.
#missing #nantucket #found
20 hours ago
Photographs of Harry and Meghan walking into a Cotswolds pub on Thursday, published in The Sun on Saturday, have raised suspicions that the Sussexes may have quietly co-operated with the anonymous photographer who snapped them.
The first tingle to the collective "spidey sense" of royal watchers came from how pin-sharp they are—rather like the pictures of Thomas Markle getting measured for his wedding suit—which is always a bit of a giveaway.
Also, British photographers don't wait outside random pubs on the off chance that Harry and Meghan might show up. And, given you are not allowed in the U.K. to publish photos sourced by following the subject, one has to wonder how a professional photographer just happened to be parked up outside the Falkland Arms pub in Great Tew on Thursday, in the perfect position to grab photos that look like a typical U.S.-style tabloid set-up.
Also, the pictures tell exactly the story the Sussexes want. There has been a lot of speculation about their marriage, and whether it's really as strong as it's made out to be, and here they are, hand in hand, going for a romantic, midweek pub lunch.
Plus, this is all studiously English. The Sussexes, you may recall, told us at some length that England's iconic institution, its monarchy, was a ghastly, corrupt, racist outfit that would be quite happy to see them dead. Now, they want to make it clear that they love England after all, and how better to do that than by shunning the fancy elite restaurants in London in favor of an ancient British pub (named after Lucius Cary, second Viscount Falkland, who died at the battle of Newbury in 1643), where a humble dish of fish and chips costs £20 ($26).
#harry #falkland #photographer #like
The first tingle to the collective "spidey sense" of royal watchers came from how pin-sharp they are—rather like the pictures of Thomas Markle getting measured for his wedding suit—which is always a bit of a giveaway.
Also, British photographers don't wait outside random pubs on the off chance that Harry and Meghan might show up. And, given you are not allowed in the U.K. to publish photos sourced by following the subject, one has to wonder how a professional photographer just happened to be parked up outside the Falkland Arms pub in Great Tew on Thursday, in the perfect position to grab photos that look like a typical U.S.-style tabloid set-up.
Also, the pictures tell exactly the story the Sussexes want. There has been a lot of speculation about their marriage, and whether it's really as strong as it's made out to be, and here they are, hand in hand, going for a romantic, midweek pub lunch.
Plus, this is all studiously English. The Sussexes, you may recall, told us at some length that England's iconic institution, its monarchy, was a ghastly, corrupt, racist outfit that would be quite happy to see them dead. Now, they want to make it clear that they love England after all, and how better to do that than by shunning the fancy elite restaurants in London in favor of an ancient British pub (named after Lucius Cary, second Viscount Falkland, who died at the battle of Newbury in 1643), where a humble dish of fish and chips costs £20 ($26).
#harry #falkland #photographer #like
3 days ago
Like every job in Hollywood, managers have grappled with plenty of change in their work in the last decade. Luckily for Range Media Partners' Cora Olson and Michael Diamond, they have each other.
The duo has worked as a unit for 10 years, since being brought together at Mgmt Entertainment and eventually grew to run the lit division. They joined Range as partners in 2024 with a desire to evolve alongside the modern talent management firm, founded during the pandemic by a collective of former CAA, UTA and WME agents hoping to shake things up in the entertainment marketplace. The management company operates its talent representation business alongside an in-house production studio, allowing the operation to finance, develop and build equity in intellectual property.
All those contributing factors can help when putting together the right package to get a film or TV project off the ground in today's precarious Hollywood model — one with fewer greenlit projects and a reliance on safer bets from major distributors. But Olson and Diamond, who represent Hollywood big shots like "Schitt's Creek" Emmy winner Dan Levy, actress-producer-director Kyra Sedgwick and "Pig" filmmaker Michael Sarnoski, counter the ****** umption that original ideas are a tougher sell.
It just takes more work to get there.
"You're not just marrying this actor with this part, or this writer with this ****** ignment. It's not as much mix-and-match as it used to be, because there isn't that same amount of volume," Olson told Office With a View. "If you look at the shows and movies that are breaking through right now, it's those really fresh points of view that seem to resonate with audiences."
#diamond #partners
The duo has worked as a unit for 10 years, since being brought together at Mgmt Entertainment and eventually grew to run the lit division. They joined Range as partners in 2024 with a desire to evolve alongside the modern talent management firm, founded during the pandemic by a collective of former CAA, UTA and WME agents hoping to shake things up in the entertainment marketplace. The management company operates its talent representation business alongside an in-house production studio, allowing the operation to finance, develop and build equity in intellectual property.
All those contributing factors can help when putting together the right package to get a film or TV project off the ground in today's precarious Hollywood model — one with fewer greenlit projects and a reliance on safer bets from major distributors. But Olson and Diamond, who represent Hollywood big shots like "Schitt's Creek" Emmy winner Dan Levy, actress-producer-director Kyra Sedgwick and "Pig" filmmaker Michael Sarnoski, counter the ****** umption that original ideas are a tougher sell.
It just takes more work to get there.
"You're not just marrying this actor with this part, or this writer with this ****** ignment. It's not as much mix-and-match as it used to be, because there isn't that same amount of volume," Olson told Office With a View. "If you look at the shows and movies that are breaking through right now, it's those really fresh points of view that seem to resonate with audiences."
#diamond #partners
7 days ago
Investors eager to buy into the futuristic vision of profitable driverless vehicles will get their chance soon. May Mobility is aiming to become the first U.S. publicly listed pure-play option for an autonomous ride-hailing technology company. It is poised to go public through a special purpose acquisition company (SPAC), merging with ACP Holdings Acquisition (NASDAQ: ACGC) that values the combined company at roughly $1.4 billion.
It's expected to operate as May Mobility. trading on the Nasdaq exchange under MAY. But before investors get too excited, let's pump the brakes and take a look at the details.
Missed AI's "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our ***** ysts, we're only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
It's easy for investors to get excited about the opportunity, but many might not be aware of the potential market size or growth prospects. The global robotaxi market is projected to reach about $415 billion by 2035, with the U.S. accounting for a roughly $48 billion slice of that pie. The fleet of U.S. commercial autonomous vehicles (AVs) is projected to expand from only about 4,000 vehicles currently to around 35,000 by 2030 -- or about 8% of the ride-sharing market.
A year ago this month, Bank of America projected that the long-term U.S. total addressable market (TAM) for AV ride-hailing is a trillion-dollar opportunity as companies such as May Mobility aim to replace the drivers that take roughly 70% of every fare. It's also important for investors to realize how early in the game this is: Alphabet's Waymo, with an estimated $350 million in annualized revenue, would represent only about 0.5% of U.S. ride-hailing bookings.
#vehicles #company #roughly #billion
It's expected to operate as May Mobility. trading on the Nasdaq exchange under MAY. But before investors get too excited, let's pump the brakes and take a look at the details.
Missed AI's "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our ***** ysts, we're only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
It's easy for investors to get excited about the opportunity, but many might not be aware of the potential market size or growth prospects. The global robotaxi market is projected to reach about $415 billion by 2035, with the U.S. accounting for a roughly $48 billion slice of that pie. The fleet of U.S. commercial autonomous vehicles (AVs) is projected to expand from only about 4,000 vehicles currently to around 35,000 by 2030 -- or about 8% of the ride-sharing market.
A year ago this month, Bank of America projected that the long-term U.S. total addressable market (TAM) for AV ride-hailing is a trillion-dollar opportunity as companies such as May Mobility aim to replace the drivers that take roughly 70% of every fare. It's also important for investors to realize how early in the game this is: Alphabet's Waymo, with an estimated $350 million in annualized revenue, would represent only about 0.5% of U.S. ride-hailing bookings.
#vehicles #company #roughly #billion
7 days ago
Vista Gold Corp. (NYSEAMERICAN:VGZ) announced on September 21 that it had agreed to be acquired by Artemis Gold Inc. (TSXV:ARTG). Under the agreement signed September 20, shareholders would receive 0.0966 buyer common shares for each existing common share and own approximately 5% of the combined company. That ownership calculation excludes the buyer's existing 4.95% stake in Vista Gold Corp. (NYSEAMERICAN:VGZ), which it intends to cancel at completion.
For shareholders, the trade-off is a smaller interest in a larger mining business with an operating ***** et and development expertise. The central question is whether that combination can supply the capital and execution needed to bring Australia's Mt Todd gold project into production.
Artemis Gold Inc. (TSXV:ARTG) operates the Blackwater mine in British Columbia and expects its future cash generation to support Mt Todd. That offers Vista Gold a potential funding source alongside a team experienced in building and operating mines.
The financial starting point explains the appeal. Vista Gold Corp. (NYSEAMERICAN:VGZ) ended June 2026 with $49.5 million in cash and no debt. Management described that cash as sufficient for interim development objectives. Joining an operating producer could broaden the resources available for the much larger task of construction.
The acquisition requires no cash consideration or new acquisition debt. Preserving the buyer's financial capacity could leave more room for investment, although the share exchange itself does not raise construction funding.
#cash
For shareholders, the trade-off is a smaller interest in a larger mining business with an operating ***** et and development expertise. The central question is whether that combination can supply the capital and execution needed to bring Australia's Mt Todd gold project into production.
Artemis Gold Inc. (TSXV:ARTG) operates the Blackwater mine in British Columbia and expects its future cash generation to support Mt Todd. That offers Vista Gold a potential funding source alongside a team experienced in building and operating mines.
The financial starting point explains the appeal. Vista Gold Corp. (NYSEAMERICAN:VGZ) ended June 2026 with $49.5 million in cash and no debt. Management described that cash as sufficient for interim development objectives. Joining an operating producer could broaden the resources available for the much larger task of construction.
The acquisition requires no cash consideration or new acquisition debt. Preserving the buyer's financial capacity could leave more room for investment, although the share exchange itself does not raise construction funding.
#cash
14 days ago
On September 17, shares of Marvell Technology, Inc. (NASDAQ:MRVL) and GLOBALFOUNDRIES Inc. (NASDAQ:GFS) moved sharply higher, with Marvell Technology, Inc. (NASDAQ:MRVL) gaining more than 4% and GLOBALFOUNDRIES Inc. (NASDAQ:GFS) rising more than 6% by the end of the trading session.
Reuters reported that the two companies have expanded their agreement to increase production capacity for silicon germanium (SiGe), a semiconductor technology used in high-speed optical connections for data centers. The multi-year agreement will expand capacity for GLOBALFOUNDRIES Inc.'s (NASDAQ:GFS) SiGe technology at its facility in Burlington, Vermont. SiGe allows semiconductor devices to operate at higher speeds while using less energy, making it increasingly important as data centers handle larger volumes of data.
Robb Johnson, Vice President, Foundry Technology at Marvell Technology, Inc. (NASDAQ:MRVL) said the expanded collaboration will help ensure that the company has the "SiGe technology and manufacturing capacity to support the significant growth" it expects ahead.
According to the report, the increased manufacturing capacity will help Marvell Technology, Inc. (NASDAQ:MRVL) meet growing demand for optical networking products, including pluggable optical transceivers, near-packaged optics, and co-packaged optics.
GlobalFoundries Is Seeing Strong SiGe Demand
#sige #globalfoundries #optical #data
Reuters reported that the two companies have expanded their agreement to increase production capacity for silicon germanium (SiGe), a semiconductor technology used in high-speed optical connections for data centers. The multi-year agreement will expand capacity for GLOBALFOUNDRIES Inc.'s (NASDAQ:GFS) SiGe technology at its facility in Burlington, Vermont. SiGe allows semiconductor devices to operate at higher speeds while using less energy, making it increasingly important as data centers handle larger volumes of data.
Robb Johnson, Vice President, Foundry Technology at Marvell Technology, Inc. (NASDAQ:MRVL) said the expanded collaboration will help ensure that the company has the "SiGe technology and manufacturing capacity to support the significant growth" it expects ahead.
According to the report, the increased manufacturing capacity will help Marvell Technology, Inc. (NASDAQ:MRVL) meet growing demand for optical networking products, including pluggable optical transceivers, near-packaged optics, and co-packaged optics.
GlobalFoundries Is Seeing Strong SiGe Demand
#sige #globalfoundries #optical #data
14 days ago
With a market cap of $19.5 billion, Best Buy Co., Inc. (BBY) is a leading technology retailer focused on enriching lives through technology by combining tech expertise with personalized customer service. The company serves customers through its online platform, stores, and in-home services, addressing a wide range of everyday technology needs.
Companies valued at more than $10 billion are generally considered "large-cap" stocks, and Best Buy fits this criterion perfectly. Best Buy operates more than 1,000 stores across the United States and Canada and employs more than 85,000 people.
Here's Another Little-Known Firm Jensen Huang's Nvidia Is Quietly Backing
MediaTek Is Stepping Up Competition Against Qualcomm With a New 2-Nanometer Chip. What This Means for QCOM Stock.
1 Year Into the Microsoft Deal, IREN Is Delivering and a Rally May Follow Soon
#stores #known
Companies valued at more than $10 billion are generally considered "large-cap" stocks, and Best Buy fits this criterion perfectly. Best Buy operates more than 1,000 stores across the United States and Canada and employs more than 85,000 people.
Here's Another Little-Known Firm Jensen Huang's Nvidia Is Quietly Backing
MediaTek Is Stepping Up Competition Against Qualcomm With a New 2-Nanometer Chip. What This Means for QCOM Stock.
1 Year Into the Microsoft Deal, IREN Is Delivering and a Rally May Follow Soon
#stores #known
14 days ago
Toward the end of the lightning round on September 17, a caller asked for Mad Money's host Jim Cramer's thoughts on Iron Mountain Incorporated (NYSE:IRM), and he replied:
It's been an incredible stock. It's a real estate investment trust, basically. And you know, we know that they shred, 3% yield, down 20 points from its high. I think it's a buy.
Iron Mountain Incorporated (NYSE:IRM) operates a highly durable business model centered on physical records management, secure document destruction, and expanding digital infrastructure. In Q2, total revenue reached $2.03 billion, representing an 18.7% increase year-over-year and 16.8% organic growth. The core physical storage business provides reliable cash flow, with storage rental revenue expanding 11.5% year-over-year excluding foreign-exchange effects across a global customer base of 240,000. Adjusted funds from operations grew 17% to $432.7 million, or $1.44 per share.
At the same time, management has channeled capital into scaling higher-growth segments, including digital solutions, ***** et lifecycle management, and data center operations. The data center segment posted 39% revenue growth during the second quarter, securing 110 megawatts in new leases through July and increasing power capacity across major enterprise markets. Operating as a real estate investment trust, the company maintains a quarterly dividend of $0.864 per share, offering shareholders a forward yield of over 3%.
On the other hand, Iron Mountain Incorporated (NYSE:IRM) faces risks inherent to capital-intensive real estate infrastructure expansion. Rapid buildouts of data center power capacity demand substantial capital expenditure, leading to elevated leverage across the balance sheet. Long-term debt, net of the current portion, reached approximately $17.1 billion at the end of the second quarter, increasing sensitivity to interest rate fluctuations and refinancing costs.
#revenue #Growth
It's been an incredible stock. It's a real estate investment trust, basically. And you know, we know that they shred, 3% yield, down 20 points from its high. I think it's a buy.
Iron Mountain Incorporated (NYSE:IRM) operates a highly durable business model centered on physical records management, secure document destruction, and expanding digital infrastructure. In Q2, total revenue reached $2.03 billion, representing an 18.7% increase year-over-year and 16.8% organic growth. The core physical storage business provides reliable cash flow, with storage rental revenue expanding 11.5% year-over-year excluding foreign-exchange effects across a global customer base of 240,000. Adjusted funds from operations grew 17% to $432.7 million, or $1.44 per share.
At the same time, management has channeled capital into scaling higher-growth segments, including digital solutions, ***** et lifecycle management, and data center operations. The data center segment posted 39% revenue growth during the second quarter, securing 110 megawatts in new leases through July and increasing power capacity across major enterprise markets. Operating as a real estate investment trust, the company maintains a quarterly dividend of $0.864 per share, offering shareholders a forward yield of over 3%.
On the other hand, Iron Mountain Incorporated (NYSE:IRM) faces risks inherent to capital-intensive real estate infrastructure expansion. Rapid buildouts of data center power capacity demand substantial capital expenditure, leading to elevated leverage across the balance sheet. Long-term debt, net of the current portion, reached approximately $17.1 billion at the end of the second quarter, increasing sensitivity to interest rate fluctuations and refinancing costs.
#revenue #Growth
14 days ago
Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) announced on September 15 that it had acquired 60% of White Desert Antarctica and its new aviation travel business, Echo Charlie. Consideration comprises approximately $61 million in cash, plus approximately $6 million relating to acquired cash, subject to working-capital, cash, and indebtedness adjustments.
The purchase broadens the travel portfolio beyond expedition cruises. For investors, the test is whether additional bookings and cash generation justify the acquisition price and subsequent investment.
White Desert takes guests into Antarctica's interior, including the Geographic South Pole. Echo Charlie offers journeys aboard a restored DC-3 aircraft carrying 12 guests. These experiences add distinctive products that Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) could market to existing adventure travelers.
Cross-selling could reduce marketing costs per booking and encourage repeat travel across the portfolio. Established customer relationships provide a starting point; the financial benefit depends on generating additional profitable departures.
The company already operates a growing land-travel business. Second-quarter Land Experiences revenue increased 23% to $70.0 million, driven by additional trips and higher pricing. That provides a relevant commercial foundation for the expansion.
#additional
The purchase broadens the travel portfolio beyond expedition cruises. For investors, the test is whether additional bookings and cash generation justify the acquisition price and subsequent investment.
White Desert takes guests into Antarctica's interior, including the Geographic South Pole. Echo Charlie offers journeys aboard a restored DC-3 aircraft carrying 12 guests. These experiences add distinctive products that Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) could market to existing adventure travelers.
Cross-selling could reduce marketing costs per booking and encourage repeat travel across the portfolio. Established customer relationships provide a starting point; the financial benefit depends on generating additional profitable departures.
The company already operates a growing land-travel business. Second-quarter Land Experiences revenue increased 23% to $70.0 million, driven by additional trips and higher pricing. That provides a relevant commercial foundation for the expansion.
#additional
15 days ago
The transition toward renewable energy is creating massive opportunities for infrastructure providers. Eos Energy Enterprises (NASDAQ:EOSE) and GE Vernova (NYSE:GEV) represent two distinct ways to play this trend in 2026.
Eos focuses on specialized zinc-based batteries for long-duration energy storage. GE Vernova is a diversified giant that services a massive portion of the world's electricity grid. Comparing these two helps clarify whether you prefer a high-growth disruptor or an established power leader.
Eos Energy Enterprises produces aqueous zinc batteries designed as a safer, scalable alternative to lithium-ion. It operates primarily within the industrial stocks **** e, targeting utilities and commercial developers. Customer concentration like this adds a layer of risk to the business, as two clients accounted for approximately 70% of total revenue in 2025.
In FY 2025, revenue reached approximately $114.2 million. This represents growth of nearly 631.8% compared to the prior fiscal year. The company reported a pre-tax net loss of roughly $969.6 million, resulting in a negative net margin of approximately 849.1%.
As of its December 2025 balance sheet, the company had a debt-to-equity ratio of -1.0x. This value indicates that total liabilities exceed shareholder equity. The current ratio, which measures the ability to cover short term obligations with short term **** ets, was approximately 4.9x, while free cash flow was nearly negative $265.0 million.
#enterprises #massive #Growth
Eos focuses on specialized zinc-based batteries for long-duration energy storage. GE Vernova is a diversified giant that services a massive portion of the world's electricity grid. Comparing these two helps clarify whether you prefer a high-growth disruptor or an established power leader.
Eos Energy Enterprises produces aqueous zinc batteries designed as a safer, scalable alternative to lithium-ion. It operates primarily within the industrial stocks **** e, targeting utilities and commercial developers. Customer concentration like this adds a layer of risk to the business, as two clients accounted for approximately 70% of total revenue in 2025.
In FY 2025, revenue reached approximately $114.2 million. This represents growth of nearly 631.8% compared to the prior fiscal year. The company reported a pre-tax net loss of roughly $969.6 million, resulting in a negative net margin of approximately 849.1%.
As of its December 2025 balance sheet, the company had a debt-to-equity ratio of -1.0x. This value indicates that total liabilities exceed shareholder equity. The current ratio, which measures the ability to cover short term obligations with short term **** ets, was approximately 4.9x, while free cash flow was nearly negative $265.0 million.
#enterprises #massive #Growth
15 days ago
Centrus Energy Corp. (NYSE:LEU) reported on September 17 that it had signed a multi-year contract to supply high-assay low-enriched uranium (HALEU) to Antares Nuclear, with deliveries expected to begin before the end of the decade. Although financial terms were not disclosed, the deal includes prepayments from Antares to help fund Centrus' expanded HALEU capacity.
The deal holds strategic importance as Antares is developing compact microreactors for critical missions on Earth and in ***** e. The company was also recently selected for the U.S. Army's Janus Program, a $2.2 billion initiative to build and operate tiny nuclear reactors on military bases, with the hope that they will one day power remote installations.
Amir Vexler, President and CEO of Centrus Energy, commented:
"This contract is another sign that demand for HALEU is real and it is accelerating, and Centrus is in prime position to meet this need. Binding orders from Antares and others are supporting our expansion to commercial-scale production – an expansion that is now well underway. We look forward to supporting Antares' continued growth and success."
dan-meyers-xXbQIrWH2_A-unsplash
#centrus #haleu
The deal holds strategic importance as Antares is developing compact microreactors for critical missions on Earth and in ***** e. The company was also recently selected for the U.S. Army's Janus Program, a $2.2 billion initiative to build and operate tiny nuclear reactors on military bases, with the hope that they will one day power remote installations.
Amir Vexler, President and CEO of Centrus Energy, commented:
"This contract is another sign that demand for HALEU is real and it is accelerating, and Centrus is in prime position to meet this need. Binding orders from Antares and others are supporting our expansion to commercial-scale production – an expansion that is now well underway. We look forward to supporting Antares' continued growth and success."
dan-meyers-xXbQIrWH2_A-unsplash
#centrus #haleu
15 days ago
Transocean Ltd. (NYSE:RIG) received a boost on September 15 when the company announced that it had secured an approximately $80 million contract for its Deepwater Conqueror ultra-deepwater drillship in Equatorial Guinea. The estimated 170-day campaign with an undisclosed operator is expected to begin next year, directly following the rig's current contract in the US Gulf.
Built in 2016, the DSME 12000-design Deepwater Conqueror can operate in water depths of up to 12,000 feet and drill to a maximum depth of 40,000 feet.
The $80 million award provides Transocean with additional contract revenue and improves visibility into the company's future revenue base. If the award includes attractive day rates and limited mobilization costs, it could contribute positively to operating margins and cash flows. The company's backlog stood at approximately $6.7 billion as of August 5, 2026.
The contract could also improve the utilization of its high-value drilling rig. Since ultra-deepwater rigs require substantial investment, securing work for an idle or underutilized rig could help spread fixed operating costs over a larger revenue base. Deepwater Conqueror will move directly from its US Gulf contract to Equatorial Guinea, avoiding a gap between the two programs.
The latest award also provides Transocean with an alternative destination for its rigs. The company had already signaled in its Q2 earnings call that the growing demand for new deepwater contracts in Africa would also help offset a decline in awards in the US Gulf.
#deepwater #contract #gulf #equatorial
Built in 2016, the DSME 12000-design Deepwater Conqueror can operate in water depths of up to 12,000 feet and drill to a maximum depth of 40,000 feet.
The $80 million award provides Transocean with additional contract revenue and improves visibility into the company's future revenue base. If the award includes attractive day rates and limited mobilization costs, it could contribute positively to operating margins and cash flows. The company's backlog stood at approximately $6.7 billion as of August 5, 2026.
The contract could also improve the utilization of its high-value drilling rig. Since ultra-deepwater rigs require substantial investment, securing work for an idle or underutilized rig could help spread fixed operating costs over a larger revenue base. Deepwater Conqueror will move directly from its US Gulf contract to Equatorial Guinea, avoiding a gap between the two programs.
The latest award also provides Transocean with an alternative destination for its rigs. The company had already signaled in its Q2 earnings call that the growing demand for new deepwater contracts in Africa would also help offset a decline in awards in the US Gulf.
#deepwater #contract #gulf #equatorial
15 days ago
Chevron Corporation (NYSE:CVX) is about to significantly expand its operations in Venezuela. The company's CFO, Eimear Bonner, revealed at a Barclays conference on September 8 that the American oil giant plans to more than double the number of oil rigs it operates in the country as part of its five-year plan to increase output.
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
The statement follows the company's recent announcement that its joint venture partnerships in Venezuela would invest more than $7 billion to more than double oil output to 600,000 barrels per day by 2031. The current production from Chevron's three Venezuelan JVs totals around 290,000, which is all exported to the United States.
The move builds on Chevron's longstanding presence in Venezuela, as it was the only American oil major that continued operating in the country under a special US license, allowing it to produce and export oil despite the sanctions.
The expansion comes alongside a much larger agreement between Washington and Caracas announced this month, which gave the US majority control over around 20% of Venezuela's proven crude reserves. The White House has now invited American oil companies to revive and modernize the South American country's oil infrastructure and more than double its crude production in the next few years.
Chevron has maintained operations in Venezuela since 1923 and even stayed through the nationalizations that forced ExxonMobil and ConocoPhillips to exit in 2007. This gives it a significant competitive advantage, since it already has a longstanding relationship with the state-owned PDVSA and extensive experience operating in the country's complex regulatory environment.
#around
15 days ago
On September 16, Air Products (NYSE:APD) said it had signed a long-term deal to supply high-purity gases to a leading chipmaker, backed by roughly $250 million of its own money in Arizona. It is the company's second semiconductor supply win, and the two projects together carry more than $900 million of investment. That is a notable turn for a company that has been pulling back from big clean-energy projects.
The Arizona project plays to what Air Products already does. It will build, own, and operate the equipment, from hydrogen generation units and carbon dioxide purification to bulk supply for three gases: helium, hydrogen, and carbon dioxide. That means the customer's gas supply runs through equipment Air Products owns. Supply is targeted to start in phases, so the buildout can move alongside the customer's expansion plans. And this is familiar ground. Air Products has supplied electronics makers for more than 40 years, and its Chandler facility has served the Phoenix chip cluster since 1981, with a pipeline system carrying ultra-high purity nitrogen around the area.
The core business gives the deal a solid floor. In the fiscal third quarter, reported on July 30, adjusted earnings per share rose 12% to $3.47, and management lifted its full-year outlook to an adjusted $13.39 to $13.49 per share. Margins widened as well, so growth is showing up as profit. Chips appear elsewhere in the results too, since the company announced a deal to build four large air separation units to serve a chipmaker's growth in Taiwan.
The cost of the pivot is hard to ignore. On June 30, Air Products announced it would not go ahead with its Louisiana Clean Energy Complex and would discontinue a zero-carbon liquid hydrogen facility in Casa Grande, Arizona, plus other smaller clean energy distribution projects. The exits triggered roughly $2.9 billion in pre-tax charges, which is why the company posted a GAAP loss of $6.47 per share in the third quarter even as its underlying earnings grew. Adjusted results leave that hit out, but the GAAP numbers show what the retreat cost.
Owning the ****** ets also means funding them. Air Products expects about $3.5 billion of capital spending in fiscal 2026, and the Arizona plant alone is a commitment of approximately $250 million, with supply arriving in phases. The release also leaves gaps: it does not name the customer or say how long the contract runs, so the length of the revenue stream is unclear. Elsewhere, Europe's operating income rose only 2% as costs climbed, and management says it is still cautious about the economic backdrop.
#clean #adjusted
The Arizona project plays to what Air Products already does. It will build, own, and operate the equipment, from hydrogen generation units and carbon dioxide purification to bulk supply for three gases: helium, hydrogen, and carbon dioxide. That means the customer's gas supply runs through equipment Air Products owns. Supply is targeted to start in phases, so the buildout can move alongside the customer's expansion plans. And this is familiar ground. Air Products has supplied electronics makers for more than 40 years, and its Chandler facility has served the Phoenix chip cluster since 1981, with a pipeline system carrying ultra-high purity nitrogen around the area.
The core business gives the deal a solid floor. In the fiscal third quarter, reported on July 30, adjusted earnings per share rose 12% to $3.47, and management lifted its full-year outlook to an adjusted $13.39 to $13.49 per share. Margins widened as well, so growth is showing up as profit. Chips appear elsewhere in the results too, since the company announced a deal to build four large air separation units to serve a chipmaker's growth in Taiwan.
The cost of the pivot is hard to ignore. On June 30, Air Products announced it would not go ahead with its Louisiana Clean Energy Complex and would discontinue a zero-carbon liquid hydrogen facility in Casa Grande, Arizona, plus other smaller clean energy distribution projects. The exits triggered roughly $2.9 billion in pre-tax charges, which is why the company posted a GAAP loss of $6.47 per share in the third quarter even as its underlying earnings grew. Adjusted results leave that hit out, but the GAAP numbers show what the retreat cost.
Owning the ****** ets also means funding them. Air Products expects about $3.5 billion of capital spending in fiscal 2026, and the Arizona plant alone is a commitment of approximately $250 million, with supply arriving in phases. The release also leaves gaps: it does not name the customer or say how long the contract runs, so the length of the revenue stream is unclear. Elsewhere, Europe's operating income rose only 2% as costs climbed, and management says it is still cautious about the economic backdrop.
#clean #adjusted
15 days ago
With a market cap. of $13.4 billion, McCormick & Company, Incorporated (MKC) is a global leader in flavor, manufacturing and distributing herbs, spices, seasonings, condiments, and flavors across 150 countries and territories. Its portfolio includes well-known brands such as McCormick, French's, Frank's RedHot, OLD BAY, Cholula, and Gourmet Garden, serving retailers, food manufacturers, and foodservice businesses.
Companies worth between $10 billion and $200 billion are generally classified as "large-cap stocks," and McCormick comfortably fits this category. Headquartered in Hunt Valley, Maryland, McCormick operates through its Consumer and Flavor Solutions segments, leveraging its global scale, expertise, and technology to support sustainable growth.
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#mccormick #gourmet
Companies worth between $10 billion and $200 billion are generally classified as "large-cap stocks," and McCormick comfortably fits this category. Headquartered in Hunt Valley, Maryland, McCormick operates through its Consumer and Flavor Solutions segments, leveraging its global scale, expertise, and technology to support sustainable growth.
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#mccormick #gourmet
15 days ago
The tech industry is struggling to make sense of President Donald Trump's surprise announcement that he is creating an artificial intelligence task force and appointing a czar to oversee the administration's approach to the technology.
Trump, in alengthy Truth Social poston Saturday morning, said he was forming the government body and would also soon name an AI czar to lead it. He offered few details, leaving members of the tech world unsure what the task force would do, who would be involved or how it would operate.
Four representatives for the sector, who were granted anonymity because they were not authorized to speak publicly, told POLITICO that the industry was not widely informed of Trump's decision prior to the Truth Social post.
"Nobody knows what the idea even is," one of the people said. Another said that feedback on the idea was not widely solicited within the industry.
The White House did not immediately respond to a request for comment.
#task #widely #idea #president
Trump, in alengthy Truth Social poston Saturday morning, said he was forming the government body and would also soon name an AI czar to lead it. He offered few details, leaving members of the tech world unsure what the task force would do, who would be involved or how it would operate.
Four representatives for the sector, who were granted anonymity because they were not authorized to speak publicly, told POLITICO that the industry was not widely informed of Trump's decision prior to the Truth Social post.
"Nobody knows what the idea even is," one of the people said. Another said that feedback on the idea was not widely solicited within the industry.
The White House did not immediately respond to a request for comment.
#task #widely #idea #president
15 days ago
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Humanoid robots are showing meaningful progress beyond controlled demonstrations, with advances in autonomy, dexterity, and the ability to perform repetitive real-world tasks. But widespread commercial deployment still remains a work in progress.
After spending a week meeting with leading robotics labs, engineers and investors across the San Francisco Bay Area, researchers found that most humanoid robots remain in development, training, and tele-operated demonstrations. Where real-world deployments exist, they are generally closer to pilots than clear return-on-investment opportunities, according to a report published Wednesday by Citrini Research.
Don't Miss:
A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why
#robots
Humanoid robots are showing meaningful progress beyond controlled demonstrations, with advances in autonomy, dexterity, and the ability to perform repetitive real-world tasks. But widespread commercial deployment still remains a work in progress.
After spending a week meeting with leading robotics labs, engineers and investors across the San Francisco Bay Area, researchers found that most humanoid robots remain in development, training, and tele-operated demonstrations. Where real-world deployments exist, they are generally closer to pilots than clear return-on-investment opportunities, according to a report published Wednesday by Citrini Research.
Don't Miss:
A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why
#robots
15 days ago
By Exec-Edge Editorial Staff
Sir Lynton Crosby has spent four decades reading public opinion for people who couldn't afford to get it wrong — prime ministers, presidents, and the boards of some of the world's largest companies. As Executive Chairman of CT Group, the research and strategy firm he co-founded, Crosby has built one of the most quietly influential shops in political and corporate consulting, with offices across eight countries and a client roster that spans government, industry, and advocacy. In recent years, CT Group has turned its research apparatus toward a subject closer to home for the business community it serves: capitalism itself, and why the system's public standing hasn't kept pace with its performance. We spoke with Crosby about what the firm's research found, and what it means for how business leaders talk about the system they operate in.
Exec Edge: CT Group ran a large-scale study on public attitudes toward capitalism. What prompted that?
We had seen a number of signals that some of the trending narratives on how the public felt about the predominant economic system were misleading. But we don't operate on feelings, but instead we respond to data, so we tested it. There's a narrative that's taken hold since the financial crisis — that the public has simply given up on capitalism, that a decade of scandals and populist politics has turned the average voter against the system outright. We fielded a nationally representative survey of 3,000 people, backed by focus groups, to find out if that was actually true or if something more specific was going on. It turned out to be the latter.
Exec Edge: What did the research actually find?
#edge #Research #turned
Sir Lynton Crosby has spent four decades reading public opinion for people who couldn't afford to get it wrong — prime ministers, presidents, and the boards of some of the world's largest companies. As Executive Chairman of CT Group, the research and strategy firm he co-founded, Crosby has built one of the most quietly influential shops in political and corporate consulting, with offices across eight countries and a client roster that spans government, industry, and advocacy. In recent years, CT Group has turned its research apparatus toward a subject closer to home for the business community it serves: capitalism itself, and why the system's public standing hasn't kept pace with its performance. We spoke with Crosby about what the firm's research found, and what it means for how business leaders talk about the system they operate in.
Exec Edge: CT Group ran a large-scale study on public attitudes toward capitalism. What prompted that?
We had seen a number of signals that some of the trending narratives on how the public felt about the predominant economic system were misleading. But we don't operate on feelings, but instead we respond to data, so we tested it. There's a narrative that's taken hold since the financial crisis — that the public has simply given up on capitalism, that a decade of scandals and populist politics has turned the average voter against the system outright. We fielded a nationally representative survey of 3,000 people, backed by focus groups, to find out if that was actually true or if something more specific was going on. It turned out to be the latter.
Exec Edge: What did the research actually find?
#edge #Research #turned
15 days ago
FleetCor and CEO Ronald Clarke agreed to a $100 million payment resolving Federal Trade Commission litigation. The settlement follows years of court action over hidden charges involving commercial fuel cards. Harm reached tens of thousands among small-business customers seeking lower operating costs. Regulators say promised savings disappeared beneath undisclosed billing practices.
Federal regulators accused FleetCor, which now operates as Corpay, of imposing unauthorized fees totaling hundreds of millions. Investigators found improper late penalties despite timely remittance or company barriers that prevented payment. Officials cited misleading claims about gas savings, fraud controls, plus card-related expenses. Those practices harmed operators across the United States, according to a 2019 complaint.
Regulators found FleetCor often waited several billing cycles before adding many charges. Delayed timing made extra costs harder for customers to notice. Invoices omitted fee disclosures, pushing account holders toward separate management reports. Even those documents obscured some amounts among unrelated details or excluded them entirely.
"FleetCor deceived its small business customers by promising fuel savings that never materialized," Christopher Mufarrige said. He directs FTC's Bureau of Consumer Protection. Agency officials also criticized hidden and unauthorized charges. Settlement terms channel restitution toward harmed account holders.
In 2023, one federal district court granted summary judgment to the FTC on every count. Its ruling found hidden charges and false representations involving savings, fees, plus fraud-control features. Permanent injunction terms barred FleetCor from billing without informed consent alongside clear disclosures. That order also prohibited deceptive fuel-card claims or hiding material information behind hyperlinks.
#fleetcor #savings
Federal regulators accused FleetCor, which now operates as Corpay, of imposing unauthorized fees totaling hundreds of millions. Investigators found improper late penalties despite timely remittance or company barriers that prevented payment. Officials cited misleading claims about gas savings, fraud controls, plus card-related expenses. Those practices harmed operators across the United States, according to a 2019 complaint.
Regulators found FleetCor often waited several billing cycles before adding many charges. Delayed timing made extra costs harder for customers to notice. Invoices omitted fee disclosures, pushing account holders toward separate management reports. Even those documents obscured some amounts among unrelated details or excluded them entirely.
"FleetCor deceived its small business customers by promising fuel savings that never materialized," Christopher Mufarrige said. He directs FTC's Bureau of Consumer Protection. Agency officials also criticized hidden and unauthorized charges. Settlement terms channel restitution toward harmed account holders.
In 2023, one federal district court granted summary judgment to the FTC on every count. Its ruling found hidden charges and false representations involving savings, fees, plus fraud-control features. Permanent injunction terms barred FleetCor from billing without informed consent alongside clear disclosures. That order also prohibited deceptive fuel-card claims or hiding material information behind hyperlinks.
#fleetcor #savings
15 days ago
Tempe, Arizona-based First Solar, Inc. (FSLR) is a leading photovoltaic (PV) solar technology and manufacturing company. The company develops and manufactures solar modules using its proprietary thin-film semiconductor technology, offering an alternative to conventional crystalline silicon PV modules. First Solar operates a global manufacturing network spanning the United States, India, Malaysia, and Vietnam. With a market cap of $21.6 billion, the company is one of the largest solar manufacturers.
Companies worth $10 billion or more are generally described as "large-cap stocks," and First Solar fits this description. The company is also one of the few major solar manufacturers with a significant U.S. manufacturing footprint, positioning it to benefit from domestic-content incentives and the broader push to expand U.S. solar manufacturing capacity. First Solar ended the second quarter with a contracted sales backlog of approximately 45.1 GW extending through 2030.
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#Solar #first #billion #tempe
Companies worth $10 billion or more are generally described as "large-cap stocks," and First Solar fits this description. The company is also one of the few major solar manufacturers with a significant U.S. manufacturing footprint, positioning it to benefit from domestic-content incentives and the broader push to expand U.S. solar manufacturing capacity. First Solar ended the second quarter with a contracted sales backlog of approximately 45.1 GW extending through 2030.
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#Solar #first #billion #tempe
15 days ago
On September 18, Prudential Financial (NYSE:PRU) announced it will sell every share it holds in Alexforbes, a company listed on the Johannesburg Stock Exchange. Two buyers are splitting the stake. Alexforbes will repurchase roughly 372.8 million shares itself, and ARC AF Holdings will take about 74.1 million more. The package is worth about $185 million, a small number for a company managing $1.642 trillion. But the message matters more than the money. A plan Prudential laid out in August is now turning into signed agreements.
The logic is easy to follow. Prudential wants to operate in fewer places and put its money, people and attention where it thinks it can win for years. Andy Sullivan, the chief executive, says the aim is to lean harder on ***** et management, retirement and protection, and get those units working together more closely. David Legher, who leads emerging markets, called Alexforbes a successful investment, so this reads as a planned exit rather than a retreat from a problem.
The core business is giving management room to be choosy. On August 4, Prudential reported second-quarter net income of $985 million, up from $533 million a year earlier. That happened even though a charge from the yearly ***** umption update grew to $299 million from $134 million, so the underlying engine ran strong enough to absorb a bigger hit. The company also returned $743 million to shareholders in the quarter and held $4.2 billion in highly liquid ***** ets at the parent level. That does not look like a seller in a hurry.
Start with what has not happened yet. The deals are expected to close in the first half of 2027, and they still need Alexforbes shareholders to approve the buyback, along with regulatory sign-off. Until then, $185 million is an agreed price, not cash in the bank. Prudential also said New Veld's involvement continues before completion, so the company stays tied to the ***** et for now.
Then there is the size. Set against those trillions in ***** ets, this sale will not move results either way. Its value is strategic, and strategy takes years to judge. Prudential is giving up a foothold in a partnership it called important, and its remaining businesses have their own snags. Sales in Prudential of ***** an are suspended, and management said that weighed on international results even as earnings held up.
#august #money
The logic is easy to follow. Prudential wants to operate in fewer places and put its money, people and attention where it thinks it can win for years. Andy Sullivan, the chief executive, says the aim is to lean harder on ***** et management, retirement and protection, and get those units working together more closely. David Legher, who leads emerging markets, called Alexforbes a successful investment, so this reads as a planned exit rather than a retreat from a problem.
The core business is giving management room to be choosy. On August 4, Prudential reported second-quarter net income of $985 million, up from $533 million a year earlier. That happened even though a charge from the yearly ***** umption update grew to $299 million from $134 million, so the underlying engine ran strong enough to absorb a bigger hit. The company also returned $743 million to shareholders in the quarter and held $4.2 billion in highly liquid ***** ets at the parent level. That does not look like a seller in a hurry.
Start with what has not happened yet. The deals are expected to close in the first half of 2027, and they still need Alexforbes shareholders to approve the buyback, along with regulatory sign-off. Until then, $185 million is an agreed price, not cash in the bank. Prudential also said New Veld's involvement continues before completion, so the company stays tied to the ***** et for now.
Then there is the size. Set against those trillions in ***** ets, this sale will not move results either way. Its value is strategic, and strategy takes years to judge. Prudential is giving up a foothold in a partnership it called important, and its remaining businesses have their own snags. Sales in Prudential of ***** an are suspended, and management said that weighed on international results even as earnings held up.
#august #money
16 days ago
Choosing between a niche equipment provider and a diversified industry **** an requires balancing high growth potential against established stability. Here is how Aehr Test Systems (NASDAQ:AEHR) and KLA (NASDAQ:KLAC) compare for investors.
Aehr Test Systems focuses on specific stress-testing solutions for power semiconductors and memory, while KLA provides broad process control tools used across the entire chip-making industry. While they both operate in the same sector, their scale and risk profiles differ significantly, making them attractive to different types of portfolios.
Aehr Test Systems designs and sells specialized equipment for the testing and stabilization of semiconductor products in various forms, including wafers and singulated dies. The company focuses on the high-growth silicon carbide market for electric vehicles and high-bandwidth memory for artificial intelligence infrastructure. In its 2026 fiscal year (FY), which ended May 29, its five largest customers accounted for nearly 70% of net sales, and customer concentration like this adds a layer of risk to the business.
In FY 2026, revenue reached $50.0 million, representing a decline of 15.2% compared to the previous year. This contraction followed a period of higher operating costs, resulting in a net loss of $7.1 million for the period. The net margin, which represents the percentage of revenue remaining as profit after all expenses, was -14.3% in the latest fiscal year.
As of its May 2026 balance sheet, the debt-to-equity ratio is zero, indicating that the company has no debt relative to its shareholder equity. The current ratio, which measures a company's ability to cover short-term liabilities with short-term **** ets, is 10.3x. Free cash flow, defined as cash from operations minus capital expenditures, was a negative $5.4 million for the fiscal year ended in May.
#year #equipment
Aehr Test Systems focuses on specific stress-testing solutions for power semiconductors and memory, while KLA provides broad process control tools used across the entire chip-making industry. While they both operate in the same sector, their scale and risk profiles differ significantly, making them attractive to different types of portfolios.
Aehr Test Systems designs and sells specialized equipment for the testing and stabilization of semiconductor products in various forms, including wafers and singulated dies. The company focuses on the high-growth silicon carbide market for electric vehicles and high-bandwidth memory for artificial intelligence infrastructure. In its 2026 fiscal year (FY), which ended May 29, its five largest customers accounted for nearly 70% of net sales, and customer concentration like this adds a layer of risk to the business.
In FY 2026, revenue reached $50.0 million, representing a decline of 15.2% compared to the previous year. This contraction followed a period of higher operating costs, resulting in a net loss of $7.1 million for the period. The net margin, which represents the percentage of revenue remaining as profit after all expenses, was -14.3% in the latest fiscal year.
As of its May 2026 balance sheet, the debt-to-equity ratio is zero, indicating that the company has no debt relative to its shareholder equity. The current ratio, which measures a company's ability to cover short-term liabilities with short-term **** ets, is 10.3x. Free cash flow, defined as cash from operations minus capital expenditures, was a negative $5.4 million for the fiscal year ended in May.
#year #equipment
16 days ago
On September 17, shares of Marvell Technology, Inc. (NASDAQ:MRVL) and GLOBALFOUNDRIES Inc. (NASDAQ:GFS) moved sharply higher, with Marvell Technology, Inc. (NASDAQ:MRVL) gaining more than 4% and GLOBALFOUNDRIES Inc. (NASDAQ:GFS) rising more than 6% by the end of the trading session.
Reuters reported that the two companies have expanded their agreement to increase production capacity for silicon germanium (SiGe), a semiconductor technology used in high-speed optical connections for data centers. The multi-year agreement will expand capacity for GLOBALFOUNDRIES Inc.'s (NASDAQ:GFS) SiGe technology at its facility in Burlington, Vermont. SiGe allows semiconductor devices to operate at higher speeds while using less energy, making it increasingly important as data centers handle larger volumes of data.
Robb Johnson, Vice President, Foundry Technology at Marvell Technology, Inc. (NASDAQ:MRVL) said the expanded collaboration will help ensure that the company has the "SiGe technology and manufacturing capacity to support the significant growth" it expects ahead.
According to the report, the increased manufacturing capacity will help Marvell Technology, Inc. (NASDAQ:MRVL) meet growing demand for optical networking products, including pluggable optical transceivers, near-packaged optics, and co-packaged optics.
GlobalFoundries Is Seeing Strong SiGe Demand
#NASDAQ #globalfoundries #capacity #data
Reuters reported that the two companies have expanded their agreement to increase production capacity for silicon germanium (SiGe), a semiconductor technology used in high-speed optical connections for data centers. The multi-year agreement will expand capacity for GLOBALFOUNDRIES Inc.'s (NASDAQ:GFS) SiGe technology at its facility in Burlington, Vermont. SiGe allows semiconductor devices to operate at higher speeds while using less energy, making it increasingly important as data centers handle larger volumes of data.
Robb Johnson, Vice President, Foundry Technology at Marvell Technology, Inc. (NASDAQ:MRVL) said the expanded collaboration will help ensure that the company has the "SiGe technology and manufacturing capacity to support the significant growth" it expects ahead.
According to the report, the increased manufacturing capacity will help Marvell Technology, Inc. (NASDAQ:MRVL) meet growing demand for optical networking products, including pluggable optical transceivers, near-packaged optics, and co-packaged optics.
GlobalFoundries Is Seeing Strong SiGe Demand
#NASDAQ #globalfoundries #capacity #data
16 days ago
At the start of September, the global network of transportation partners that retail giant Amazon relies upon to process an average of between 15 and 17.2 million delivery orders per day was suddenly thrust into public attention.
A cargo plane operated by 21 Air ran off the runway at Miami International in a major accident that killed five people traveling in a van on a nearby road.
Since the Sept. 6 crash, Amazon suspended its operations with 21 Air, pending an ongoing investigation by the National Transportation Safety Board (NTSB). The retail platform said it made the choice after it "spent time supporting the investigation and reviewing some of the surrounding circumstances."
While operating with an unblemished safety record, another of Amazon's network of thousands of transportation partners ended up in the limelight this week when it filed for Chapter 11 protection in a Florida court, Tampa Bay Business Journal reported.
Launched out of Winter Haven in Polk County in 2005, CLJ Transporting is a cargo carrier and dedicated Amazon Freight Partner that had been running deliveries for Amazon within a 200-mile radius of Davenport in the central part of the state for more than a decade.
#amazon #network
A cargo plane operated by 21 Air ran off the runway at Miami International in a major accident that killed five people traveling in a van on a nearby road.
Since the Sept. 6 crash, Amazon suspended its operations with 21 Air, pending an ongoing investigation by the National Transportation Safety Board (NTSB). The retail platform said it made the choice after it "spent time supporting the investigation and reviewing some of the surrounding circumstances."
While operating with an unblemished safety record, another of Amazon's network of thousands of transportation partners ended up in the limelight this week when it filed for Chapter 11 protection in a Florida court, Tampa Bay Business Journal reported.
Launched out of Winter Haven in Polk County in 2005, CLJ Transporting is a cargo carrier and dedicated Amazon Freight Partner that had been running deliveries for Amazon within a 200-mile radius of Davenport in the central part of the state for more than a decade.
#amazon #network
16 days ago
On September 15, Arthur J. Gallagher & Co. (NYSE:AJG) announced that it had bought McMillan Insurance & Bonding Inc., an Englewood, Colorado, firm that operates as Innovise Business Consultants. Gallagher did not say what it paid. On its own, the deal is a footnote. But it is one of many, and the way those deals show up in earnings is where the debate over this stock really lives.
On July 30, Gallagher reported results for the quarter ended June 30, and the top line was hard to argue with. Revenue from its combined Brokerage and Risk Management businesses grew 24%, and organic growth, which leaves out acquisitions, was 6%. That second number shows clients are staying and spending. It was not confined to one corner, either, since organic fees in the risk management arm rose 12%. Management adds that retention is strong and customers want broader help from the platform. Adjusted earnings per share climbed to $2.84 from $2.30, which means growth is reaching profit once one-time acquisition costs are set aside.
Innovise fits the pattern. It sells surety bonds and commercial insurance brokerage with a focus on manufacturing, energy, construction and real estate, and Chairman and CEO J. Patrick Gallagher, Jr. said that niche expertise adds depth in Colorado. Jason McMillan's team will move into Gallagher's Denver office and work under Bret VanderVoort, who oversees retail property/casualty brokerage for the Western Zone. Buying specialists and folding them into existing offices is a repeatable playbook, and Gallagher closed 14 brokerage acquisitions in the first six months of 2026.
Now look at reported earnings, because that is where you see the cost. Diluted earnings per share fell to $1.25, from $1.40 in the second quarter of 2025, even though revenue jumped. Much of the gap between reported and adjusted results is the price of buying growth. Amortization of acquired intangibles alone weighs on brokerage net earnings by $218 million, up from $130 million a year ago, and integration costs rose as well. Adjusted figures set those aside, but they are real expenses, and they keep landing as long as Gallagher keeps buying.
Margins tell a similar story. The brokerage segment's adjusted EBITDAC margin, a stand-in for operating profit, slipped to 33.3% from 36.1%. Gallagher points to last year's interest income on cash raised for the ***** uredPartners deal, which closed in the third quarter of 2025, plus seasonality and newly added tuck-ins. That is a fair explanation. But the debt behind the deal is still here, including $9.55 billion of public debt, plus more in private placements and on a credit line. And the deal flow is thinner: brokerage acquisitions closed in the first six months of 2026 carried $107 million of annualized revenue, versus $354 million a year earlier, which puts more weight on organic growth.
#Growth
On July 30, Gallagher reported results for the quarter ended June 30, and the top line was hard to argue with. Revenue from its combined Brokerage and Risk Management businesses grew 24%, and organic growth, which leaves out acquisitions, was 6%. That second number shows clients are staying and spending. It was not confined to one corner, either, since organic fees in the risk management arm rose 12%. Management adds that retention is strong and customers want broader help from the platform. Adjusted earnings per share climbed to $2.84 from $2.30, which means growth is reaching profit once one-time acquisition costs are set aside.
Innovise fits the pattern. It sells surety bonds and commercial insurance brokerage with a focus on manufacturing, energy, construction and real estate, and Chairman and CEO J. Patrick Gallagher, Jr. said that niche expertise adds depth in Colorado. Jason McMillan's team will move into Gallagher's Denver office and work under Bret VanderVoort, who oversees retail property/casualty brokerage for the Western Zone. Buying specialists and folding them into existing offices is a repeatable playbook, and Gallagher closed 14 brokerage acquisitions in the first six months of 2026.
Now look at reported earnings, because that is where you see the cost. Diluted earnings per share fell to $1.25, from $1.40 in the second quarter of 2025, even though revenue jumped. Much of the gap between reported and adjusted results is the price of buying growth. Amortization of acquired intangibles alone weighs on brokerage net earnings by $218 million, up from $130 million a year ago, and integration costs rose as well. Adjusted figures set those aside, but they are real expenses, and they keep landing as long as Gallagher keeps buying.
Margins tell a similar story. The brokerage segment's adjusted EBITDAC margin, a stand-in for operating profit, slipped to 33.3% from 36.1%. Gallagher points to last year's interest income on cash raised for the ***** uredPartners deal, which closed in the third quarter of 2025, plus seasonality and newly added tuck-ins. That is a fair explanation. But the debt behind the deal is still here, including $9.55 billion of public debt, plus more in private placements and on a credit line. And the deal flow is thinner: brokerage acquisitions closed in the first six months of 2026 carried $107 million of annualized revenue, versus $354 million a year earlier, which puts more weight on organic growth.
#Growth
16 days ago
Des Moines, Iowa-based Principal Financial Group, Inc. (PFG) provides retirement, ******* et management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company has a market cap of $25 billion and operates through Retirement and Income Solutions, Principal ******* et Management, and Benefits and Protection segments.
Companies with a market cap of $10 billion or more are typically called "large-cap stocks." PFG fits squarely into that category, with a market cap above this threshold that reflects its substantial size and influence in the ******* et management industry.
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#asset #management #market #moines
Companies with a market cap of $10 billion or more are typically called "large-cap stocks." PFG fits squarely into that category, with a market cap above this threshold that reflects its substantial size and influence in the ******* et management industry.
Mark Cuban Says He Was Dizzy for Months, So He Built a VR Fix That Does at Home 'Much Of What A 180k Machine' Does
Bank of America Just Declared a 'Generational Entry Point' in U.S. Bonds. Why Investors Should Be Backing Up the Truck on Treasuries Here.
Nvidia, OpenAI, and Oracle's $745B Financing Circle Just Hit Its First Stress Test: A Fed Rate Hike
#asset #management #market #moines
16 days ago
Financially challenged fast-food franchisees have been lining up to file for bankruptcy protection in 2026 to reorganize their businesses and restructure debt.
Hardee's Phoenix-based restaurant franchisee Superior Star LLC , filed for Chapter 11 bankruptcy protection on July 9, facing an alleged seller financing dispute, according to court papers. A burger chain rival, Checkers Drive-In franchisee C.S. Holdings of Tampa LLC, which operates two locations in Tampa, Fla., filed for Chapter 11 bankruptcy protection to reorganize its business on July 14.
Another Hardee's franchisee, ARC Burger LLC, filed for Chapter 7 bankruptcy liquidation on April 20, 2026, after franchisor Hardee's Restaurants LLC sued the restaurant operator for alleged breach of contract, seeking to recover over $6.5 million in unpaid franchise fees and other obligations, according to Law.com.
And now, major Wendy's restaurant franchisee Meritage Hospitality Group Inc., which operates over 350 locations in 15 states, filed for Chapter 11 bankruptcy to reorganize its business and restructure its debt, almost 11 months after defaulting on its franchise agreements for failing to remit payments.
Meritage Hospitality and 14 affiliates filed their petition in the U.S. Bankruptcy Court for the Western District of Michigan on Sept. 17, 2026, listing $10 million to $50 million in **** ets and debts.
#chapter
Hardee's Phoenix-based restaurant franchisee Superior Star LLC , filed for Chapter 11 bankruptcy protection on July 9, facing an alleged seller financing dispute, according to court papers. A burger chain rival, Checkers Drive-In franchisee C.S. Holdings of Tampa LLC, which operates two locations in Tampa, Fla., filed for Chapter 11 bankruptcy protection to reorganize its business on July 14.
Another Hardee's franchisee, ARC Burger LLC, filed for Chapter 7 bankruptcy liquidation on April 20, 2026, after franchisor Hardee's Restaurants LLC sued the restaurant operator for alleged breach of contract, seeking to recover over $6.5 million in unpaid franchise fees and other obligations, according to Law.com.
And now, major Wendy's restaurant franchisee Meritage Hospitality Group Inc., which operates over 350 locations in 15 states, filed for Chapter 11 bankruptcy to reorganize its business and restructure its debt, almost 11 months after defaulting on its franchise agreements for failing to remit payments.
Meritage Hospitality and 14 affiliates filed their petition in the U.S. Bankruptcy Court for the Western District of Michigan on Sept. 17, 2026, listing $10 million to $50 million in **** ets and debts.
#chapter
16 days ago
On September 9, 2026, Reuters reported that U.S. Transportation Secretary Sean Duffy sent a letter to Ford Motor Company (NYSE:F) CEO Jim Farley criticizing the automaker's business relationships with Chinese battery maker CATL and Chinese automakers Geely and BYD as raising "profound concern."
It specifically flagged Ford's licensed CATL battery technology at its Marshall, Michigan plant, its joint venture with Geely in Spain, and its decision not to move Lincoln Nautilus production out of China until 2030. Ford responded that Duffy's letter was "a wrongheaded attempt to capture headlines," noting that it owns the Marshall plant, controls its operations, and employs the workforce there, unlike companies that simply import Chinese-made batteries.
Ford Motor Company (NYSE:F) can argue that its CATL partnership still solidifies U.S. battery manufacturing rather than becoming more dependent on Chinese imports. Ford owns and operates its Marshall, Michigan battery plant. It allows the company to manufacture batteries domestically while licensing CATL technology. That structure could help Ford expand its U.S. EV production capacity and reduce the need to import finished Chinese battery packs.
Ford's improving financial performance gives the firm more flexibility to manage the political pressure. The automaker raised its full-year adjusted EBIT guidance to $10 billion-$11 billion after second-quarter results exceeded expectations, with record Bronco sales and a stronger product mix supporting the improvement. Stronger operating earnings could give Ford more resources to adjust its battery strategy if policymakers impose more restrictions on Chinese technology.
The company's existing U.S. manufacturing footprint could become a competitive advantage if Washington tightens restrictions on Chinese automotive technology. Ford has already invested in domestic battery production instead of relying entirely on imported battery packs. Model e losses have narrowed for three consecutive quarters. If policymakers force automakers to cut Chinese supply-chain reliance, Ford can use its existing U.S. factories to adapt faster than rivals that depend heavily on Chinese parts.
#ford #catl #motor
It specifically flagged Ford's licensed CATL battery technology at its Marshall, Michigan plant, its joint venture with Geely in Spain, and its decision not to move Lincoln Nautilus production out of China until 2030. Ford responded that Duffy's letter was "a wrongheaded attempt to capture headlines," noting that it owns the Marshall plant, controls its operations, and employs the workforce there, unlike companies that simply import Chinese-made batteries.
Ford Motor Company (NYSE:F) can argue that its CATL partnership still solidifies U.S. battery manufacturing rather than becoming more dependent on Chinese imports. Ford owns and operates its Marshall, Michigan battery plant. It allows the company to manufacture batteries domestically while licensing CATL technology. That structure could help Ford expand its U.S. EV production capacity and reduce the need to import finished Chinese battery packs.
Ford's improving financial performance gives the firm more flexibility to manage the political pressure. The automaker raised its full-year adjusted EBIT guidance to $10 billion-$11 billion after second-quarter results exceeded expectations, with record Bronco sales and a stronger product mix supporting the improvement. Stronger operating earnings could give Ford more resources to adjust its battery strategy if policymakers impose more restrictions on Chinese technology.
The company's existing U.S. manufacturing footprint could become a competitive advantage if Washington tightens restrictions on Chinese automotive technology. Ford has already invested in domestic battery production instead of relying entirely on imported battery packs. Model e losses have narrowed for three consecutive quarters. If policymakers force automakers to cut Chinese supply-chain reliance, Ford can use its existing U.S. factories to adapt faster than rivals that depend heavily on Chinese parts.
#ford #catl #motor
16 days ago
Estes Express Lines is investing nearly $56 million to expand its cross-border and offshore freight network, including terminals, equipment and capacity serving Canada, Mexico, Alaska, Hawaii and Puerto Rico.
Alex Peebles, senior director of offshore and international at Estes, said the privately held, family-owned carrier is taking a longer view of the freight market rather than allowing current conditions to dictate its investment strategy.
"We're really looking at all of these investments from a long-term horizon and viewpoint perspective and one that's going to help accommodate growth and capacity into all the offshore international markets that we service," Peebles told FreightWaves.
Estes, which is celebrating its 95th anniversary this year, is North America's largest privately held less-than-truckload (LTL) freight transportation provider. The company operates a network of over 300 terminals and service centers across the U.S., Puerto Rico, Alaska, Hawaii with coverage extending to Canada, Mexico and the Caribbean
Peebles said the company's ownership structure gives it flexibility to move quickly when real estate and equipment opportunities arise.
#rico
Alex Peebles, senior director of offshore and international at Estes, said the privately held, family-owned carrier is taking a longer view of the freight market rather than allowing current conditions to dictate its investment strategy.
"We're really looking at all of these investments from a long-term horizon and viewpoint perspective and one that's going to help accommodate growth and capacity into all the offshore international markets that we service," Peebles told FreightWaves.
Estes, which is celebrating its 95th anniversary this year, is North America's largest privately held less-than-truckload (LTL) freight transportation provider. The company operates a network of over 300 terminals and service centers across the U.S., Puerto Rico, Alaska, Hawaii with coverage extending to Canada, Mexico and the Caribbean
Peebles said the company's ownership structure gives it flexibility to move quickly when real estate and equipment opportunities arise.
#rico
16 days ago
Digital Realty Trust, Inc. (NYSE:DLR) announced a joint venture with Rönesans Infrastructure on September 14 to develop and operate data centers in Türkiye. The first Ankara campus is designed for more than 22 megawatts of IT capacity. Land, power and permits are secured, early construction has begun, and the first facility is scheduled for completion in 2028.
Digital Realty Trust, Inc. (NYSE:DLR) has established credible development foundations. The investment question is whether those foundations can support attractive returns once construction spending, customer contracts, and operating costs enter the calculation.
For Digital Realty Trust, Inc. (NYSE:DLR), securing land, electricity and permits reduces uncertainty around whether development can proceed. That matters because customer interest has limited commercial value when a developer cannot offer a credible delivery schedule. Construction progress can make discussions with prospective tenants more concrete.
Digital Realty Trust, Inc. (NYSE:DLR) also combines its global customer relationships and operating experience with Rönesans Infrastructure's local development and construction capabilities. The potential benefit is practical: a partner familiar with local execution can help deliver the buildings, while an established data-center operator can help attract customers and manage their deployments.
Digital Realty Trust, Inc. (NYSE:DLR) is entering through a venture that also plans an additional Istanbul facility. A presence in both cities could appeal to customers seeking multiple locations for resilience and connectivity. Success in Ankara could therefore create a commercial foundation for further expansion, provided demand supports additional investment.
#digital #construction #development #venture
Digital Realty Trust, Inc. (NYSE:DLR) has established credible development foundations. The investment question is whether those foundations can support attractive returns once construction spending, customer contracts, and operating costs enter the calculation.
For Digital Realty Trust, Inc. (NYSE:DLR), securing land, electricity and permits reduces uncertainty around whether development can proceed. That matters because customer interest has limited commercial value when a developer cannot offer a credible delivery schedule. Construction progress can make discussions with prospective tenants more concrete.
Digital Realty Trust, Inc. (NYSE:DLR) also combines its global customer relationships and operating experience with Rönesans Infrastructure's local development and construction capabilities. The potential benefit is practical: a partner familiar with local execution can help deliver the buildings, while an established data-center operator can help attract customers and manage their deployments.
Digital Realty Trust, Inc. (NYSE:DLR) is entering through a venture that also plans an additional Istanbul facility. A presence in both cities could appeal to customers seeking multiple locations for resilience and connectivity. Success in Ankara could therefore create a commercial foundation for further expansion, provided demand supports additional investment.
#digital #construction #development #venture
