Market Signal Briefing

Morgan Stanley (MS) European Financials Conference 2026 March 18, 2026 7:00 AM EDT

Company Participants

Daniel Simkowitz - Co-President

Presentation

Unknown Analyst

Thanks, everyone, for coming to this session with our very own Dan Simkowitz, Co-President of Morgan Stanley. Thanks, Dan, for supporting us one more year.

Before we get started, I'm going to read the disclaimer. The discussions may include forward-looking statements, which reflect Morgan Stanley's management's current estimates and is subject to risks and uncertainties that may cause actual results to differ materially. Morgan Stanley does not undertake to update the forward-looking statements. This discussion, which is copyrighted by Morgan Stanley and may not be duplicated or reproduced without their concern, consent is not an offer to buy any security.

Question-and-Answer Session

Unknown Analyst

With that, I guess we should start with the current environment. The market has seen quite a bit of volatility, whether it was AI a few weeks ago, geopolitics at the moment, private credit has also made the headlines. And only 2, 3 months ago, it felt like we're in a bull market. How do you see the environment based on the conversations you're having with clients? And given the volatility we've seen, how do you see the capital markets environment playing out? And to what extent that's affecting the pipelines?

Daniel Simkowitz
Co-President

Sure. Well, first of all, thank you to everyone here. I've been at the conference since yesterday afternoon, and congratulations to you and your predecessors and your partners, but mostly to everybody in the room and all the companies are presenting. It's just a phenomenal event and venue to pull all this together. We really appreciate everyone taking the time, both people in the audience, but also all the firms that have done and you got the all-star crowd, and I'm like the side show here.

U.S. Gold Corp (NASDAQ:USAU) announced that it is set to join the VanEck Junior Gold Miners ETF (GDXJ) following the fund’s latest quarterly rebalance, the company said Wednesday.

The inclusion will take effect at the close of trading on March 20.

GDXJ tracks an index of small- and mid-cap companies primarily involved in gold and silver mining, offering investors exposure to junior mining equities. The latest rebalance added 27 companies to the index, including 17 based in North America.

U.S. Gold said the addition is expected to increase its visibility among both institutional and retail investors, while also potentially improving trading liquidity.

The company is currently focused on advancing and de-risking its portfolio of gold and gold-copper assets located in Wyoming, Nevada, and Idaho.

"Inclusion in the GDXJ represents another validation of U.S. Gold's strategic positioning and strengthens our access to capital markets,” U.S. Gold Corp executive chairman Luke Norman said in a statement. 

“As a U.S. focused junior with advanced, permitted assets in stable jurisdictions, the GDXJ inclusion will continue to attract greater institutional interest, improve share liquidity, and support our ongoing efforts to secure financing for project development. It underscores the growing recognition of high-quality North American juniors in a market increasingly favoring domestic, derisked opportunities.”

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."

Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase, investors find themselves invested in shares that have limited to no upside or even a downside. So, betting on a stock just by looking at the traditional momentum parameters could be risky at times.

A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.

There are several stocks that currently pass through the screen and Encore Capital Group (ECPG - Free Report) is one of them. Here are the key reasons why this stock is a great candidate.

A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 18.5%, the stock of this provider of debt-management and recovery services is certainly well-positioned in this regard.

While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. ECPG meets this criterion too, as the stock gained 24.6% over the past 12 weeks.

Moreover, the momentum for ECPG is fast paced, as the stock currently has a beta of 1.35. This indicates that the stock moves 35% higher than the market in either direction.

Given this price performance, it is no surprise that ECPG has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.

In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped ECPG earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Most importantly, despite possessing fast-paced momentum features, ECPG is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. ECPG is currently trading at 0.82 times its sales. In other words, investors need to pay only 82 cents for each dollar of sales.

So, ECPG appears to have plenty of room to run, and that too at a fast pace.

In addition to ECPG, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.

This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.

However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.

Click here to sign up for a free trial to the Research Wizard today.

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.

Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.

It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.

Stagwell (STGW - Free Report) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:

A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 28.1%, the stock of this marketing communications company is certainly well-positioned in this regard.

While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. STGW meets this criterion too, as the stock gained 21.4% over the past 12 weeks.

Moreover, the momentum for STGW is fast paced, as the stock currently has a beta of 1.71. This indicates that the stock moves 71% higher than the market in either direction.

Given this price performance, it is no surprise that STGW has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.

In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped STGW earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Most importantly, despite possessing fast-paced momentum features, STGW is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. STGW is currently trading at 0.53 times its sales. In other words, investors need to pay only 53 cents for each dollar of sales.

So, STGW appears to have plenty of room to run, and that too at a fast pace.

In addition to STGW, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.

This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.

However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.

Click here to sign up for a free trial to the Research Wizard today.

Record Resources Inc (TSX-V:REC) said it is evaluating options to unlock value from its natural hydrogen properties in Ontario, aiming to capitalize on rising energy demand from artificial intelligence data centers.

The company, which owns three hydrogen-focused properties near the Lake Timiskaming region, said it is considering non-dilutive strategies to enhance shareholder value as interest grows in hydrogen as a potential baseload power source for energy-intensive AI infrastructure.

Power consumption from AI data centers is expected to more than double by 2030 to about 945 terawatt-hours, according to International Energy Agency estimates cited by the company.

Record’s flagship Lorrain-Bucke property, located near Lake Temiskaming, sits adjacent to a hydrogen discovery by Quebec Innovative Materials Corp and lies within a rift structure considered prospective for hydrogen-bearing systems. Hydrogen anomalies were previously identified in the region during fieldwork conducted in 2025.

The company’s Paradis Bay claims, located near Ville-Marie, Quebec, are positioned along a regional fault system where geological conditions may allow hydrogen gas to accumulate. The broader Lake Timiskaming area has seen reports of natural hydrogen seeps, highlighting exploration potential along the Ontario-Quebec border.

Record also holds the Beauchamp property, comprising 300 claims within the Timiskaming Rift zone. The site has yet to undergo hydrogen-focused exploration, though the company said geological features, including deep-seated fault systems, could support hydrogen generation and trapping.

The company added that its current market valuation does not reflect the potential of these hydrogen assets, and it is reviewing ways to realize value while advancing its broader portfolio.

Separately, Record said it will continue with its fully carried 2026 business plan in Gabon following its acquisition of the Ngulu oil and gas block last year.

Meanwhile, at its annual and special meeting held on Feb. 27, shareholders elected six directors to the board, including Bill Torr, Robin Sutherland, Paul Craig, Nathalie Kavanagh, Michael Judson and David Johnson.

Mark Mason has spent more than 20 years trying to bring the unwieldy megabank under control. Now, he's ready to call the shots at a new shop.

Oracle (ORCL - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this software maker have returned +0.5% over the past month versus the Zacks S&P 500 composite's -1.8% change. The Zacks Computer - Software industry, to which Oracle belongs, has gained 0.7% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

Oracle is expected to post earnings of $1.95 per share for the current quarter, representing a year-over-year change of +14.7%. Over the last 30 days, the Zacks Consensus Estimate has changed +3.7%.

For the current fiscal year, the consensus earnings estimate of $7.38 points to a change of +22.4% from the prior year. Over the last 30 days, this estimate has remained unchanged.

For the next fiscal year, the consensus earnings estimate of $7.94 indicates a change of +7.6% from what Oracle is expected to report a year ago. Over the past month, the estimate has changed +0.3%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Oracle is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Oracle, the consensus sales estimate of $19.08 billion for the current quarter points to a year-over-year change of +20%. The $67.13 billion and $88.86 billion estimates for the current and next fiscal years indicate changes of +16.9% and +32.4%, respectively.

Last Reported Results and Surprise HistoryOracle reported revenues of $17.19 billion in the last reported quarter, representing a year-over-year change of +21.7%. EPS of $1.79 for the same period compares with $1.47 a year ago.

Compared to the Zacks Consensus Estimate of $16.89 billion, the reported revenues represent a surprise of +1.77%. The EPS surprise was +5.29%.

Over the last four quarters, Oracle surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Oracle is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Oracle. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Vistra Corp. (VST - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Over the past month, shares of this company have returned -5.4%, compared to the Zacks S&P 500 composite's -1.8% change. During this period, the Zacks Utility - Electric Power industry, which Vistra falls in, has gained 0.4%. The key question now is: What could be the stock's future direction?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Vistra is expected to post earnings of $1.56 per share for the current quarter, representing a year-over-year change of +239.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.7%.

The consensus earnings estimate of $8.79 for the current fiscal year indicates a year-over-year change of +67.1%. This estimate has changed +0.1% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $11.19 indicates a change of +27.3% from what Vistra is expected to report a year ago. Over the past month, the estimate has changed +2.6%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Vistra is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

In the case of Vistra, the consensus sales estimate of $5.54 billion for the current quarter points to a year-over-year change of +40.9%. The $23.09 billion and $24.73 billion estimates for the current and next fiscal years indicate changes of +30.1% and +7.1%, respectively.

Last Reported Results and Surprise HistoryVistra reported revenues of $4.58 billion in the last reported quarter, representing a year-over-year change of +13.5%. EPS of $2.18 for the same period compares with $1.14 a year ago.

Compared to the Zacks Consensus Estimate of $5.34 billion, the reported revenues represent a surprise of -14.12%. The EPS surprise was -13.15%.

Over the last four quarters, Vistra surpassed consensus EPS estimates two times. The company topped consensus revenue estimates times over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Vistra is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Vistra. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Duke Energy (DUK - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Over the past month, shares of this electric utility have returned +4.9%, compared to the Zacks S&P 500 composite's -1.8% change. During this period, the Zacks Utility - Electric Power industry, which Duke Energy falls in, has gained 0.4%. The key question now is: What could be the stock's future direction?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Duke Energy is expected to post earnings of $1.86 per share, indicating a change of +5.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.8% over the last 30 days.

The consensus earnings estimate of $6.71 for the current fiscal year indicates a year-over-year change of +6.3%. This estimate has remained unchanged over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $7.14 indicates a change of +6.5% from what Duke Energy is expected to report a year ago. Over the past month, the estimate has changed -0.1%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Duke Energy is rated Zacks Rank #2 (Buy).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

For Duke Energy, the consensus sales estimate for the current quarter of $8.45 billion indicates a year-over-year change of +2.4%. For the current and next fiscal years, $33.29 billion and $34.81 billion estimates indicate +3.3% and +4.6% changes, respectively.

Last Reported Results and Surprise HistoryDuke Energy reported revenues of $7.94 billion in the last reported quarter, representing a year-over-year change of +7.9%. EPS of $1.5 for the same period compares with $1.66 a year ago.

Compared to the Zacks Consensus Estimate of $7.64 billion, the reported revenues represent a surprise of +3.88%. The EPS surprise was -0.66%.

Over the last four quarters, Duke Energy surpassed consensus EPS estimates three times. The company topped consensus revenue estimates each time over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Duke Energy is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Duke Energy. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.

Boeing (BA - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this airplane builder have returned -13.6% over the past month versus the Zacks S&P 500 composite's -1.8% change. The Zacks Aerospace - Defense industry, to which Boeing belongs, has lost 4% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Boeing is expected to post a loss of $0.50 per share for the current quarter, representing a year-over-year change of -2%. Over the last 30 days, the Zacks Consensus Estimate has changed -12.1%.

For the current fiscal year, the consensus earnings estimate of $0.57 points to a change of +105.4% from the prior year. Over the last 30 days, this estimate has changed -11.9%.

For the next fiscal year, the consensus earnings estimate of $4.3 indicates a change of +653.9% from what Boeing is expected to report a year ago. Over the past month, the estimate has changed +1.4%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Boeing is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

For Boeing, the consensus sales estimate for the current quarter of $21.82 billion indicates a year-over-year change of +11.9%. For the current and next fiscal years, $96.58 billion and $109.87 billion estimates indicate +8% and +13.8% changes, respectively.

Last Reported Results and Surprise HistoryBoeing reported revenues of $23.95 billion in the last reported quarter, representing a year-over-year change of +57.1%. EPS of -$1.91 for the same period compares with -$5.9 a year ago.

Compared to the Zacks Consensus Estimate of $21.89 billion, the reported revenues represent a surprise of +9.42%. The EPS surprise was -315.22%.

Over the last four quarters, Boeing surpassed consensus EPS estimates two times. The company topped consensus revenue estimates each time over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Boeing is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Boeing. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Deere (DE - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Shares of this agricultural equipment manufacturer have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.8% change. The Zacks Manufacturing - Farm Equipment industry, to which Deere belongs, has lost 6.5% over this period. Now the key question is: Where could the stock be headed in the near term?

Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Deere is expected to post earnings of $5.81 per share for the current quarter, representing a year-over-year change of -12.5%. Over the last 30 days, the Zacks Consensus Estimate has changed +4.8%.

The consensus earnings estimate of $17.97 for the current fiscal year indicates a year-over-year change of -2.9%. This estimate has changed +6.8% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $22.99 indicates a change of +28% from what Deere is expected to report a year ago. Over the past month, the estimate has changed +4.9%.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Deere.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For Deere, the consensus sales estimate for the current quarter of $11.43 billion indicates a year-over-year change of +2.3%. For the current and next fiscal years, $40.84 billion and $44.39 billion estimates indicate +4.9% and +8.7% changes, respectively.

Last Reported Results and Surprise HistoryDeere reported revenues of $8 billion in the last reported quarter, representing a year-over-year change of +17.5%. EPS of $2.42 for the same period compares with $3.19 a year ago.

Compared to the Zacks Consensus Estimate of $7.6 billion, the reported revenues represent a surprise of +5.22%. The EPS surprise was +26.04%.

Over the last four quarters, Deere surpassed consensus EPS estimates three times. The company topped consensus revenue estimates each time over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Deere is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Deere. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

Talanx AG (TLLXY) Q4 2025 Earnings Call March 18, 2026 4:00 AM EDT

Company Participants

Bernd Sablowsky - Head of Investor Relations and Mergers & Acquisitions
Torsten Leue - Chairman of the Management Board & CEO
Jan Wicke - CFO & Member of the Management Board

Conference Call Participants

Chris Hartwell
Michael Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division
Iain Pearce - BNP Paribas, Research Division
Roland Pfänder - ODDO BHF Corporate & Markets, Research Division

Presentation

Bernd Sablowsky
Head of Investor Relations and Mergers & Acquisitions

Good morning. This is Hannover calling with the Talanx results call for the full year and the fourth quarter 2025. I'm here together with my CEO, Torsten Leue, and my CFO, Jan, good morning to you, who will take you through our presentation and explain our numbers in more detail.

After their presentation, Torsten and Jan will be happy to answer all the questions you might have in relation to our numbers. We are on video today. So if you want to pose a question, please use the Hand Raise feature, and I make sure that you will be slotted into our Q&A. And as usual, all our complementary documents, including, but not limited to, our financial data supplement, are posted on our website in the IR section.

And with that, I hand over to Torsten. Torsten, the floor is yours.

Torsten Leue
Chairman of the Management Board & CEO

Good morning from my side as well. So I run through the highlights from my side, and then Jan, as usual, tell you the financials more in detail. So another record year was '25 for us. You see what we have already said, a 25% growth to roughly EUR 2.5 billion. We will increase even more with 33%, our dividends to EUR 3.60. And if you see, I always say what the most important thing is what

, /PRNewswire/ -- M-tron Industries, Inc. (NYSE American: MPTI) ("Mtron" or the "Company"), a leading provider of high-performance radio frequency ("RF") components and solutions for the aerospace and defense sector, today announced an offering of subscription rights to raise capital, enhancing its financial flexibility and positioning the company to pursue these rapid changes in the defense sector. With global conflicts increasing in frequency and the dramatic shift in warfare toward more agile, software-centric systems that rely heavily on control of the electromagnetic spectrum, electronic defense players like Mtron are playing a greater role in supplying joint forces. The U.S. Department of War is upending the procurement process to rapidly increase production of critical systems and pushing for the creation and support of more nimble players.

Mtron seeks to raise capital to provide management with flexibility in addressing these opportunities. The proceeds will support:

accretive acquisitions; the ability to perform carve-outs and other forms of financial engineering with larger entities; transactions of scale; pursue strategic investments; and expansion of internal capabilities and capacity to align with meet market demand trends. The subscription rights (the "Rights") are being issued with the following features:

Record date of 5:00 p.m. Eastern Time on March 27, 2026; Rights will trade on NYSE American under symbol "MPTI RT" and are transferable; Begin regular-way trading on March 31, 2026, and cease trading at market close on April 13, 2026; Rights will expire on April 15, 2026 at 5:00 p.m. Eastern Time; and Rights, if fully subscribed, will raise approximately $42.7 million. The Company's Board of Directors today announced its intention to distribute transferable subscription rights to holders of record of the Company's common stock, par value $0.01 per share ("Common Stock"), which entitles stockholders one (1) subscription right for each share of Common Stock (the "Rights Offering"). Five (5) Rights can be exercised to purchase one (1) share of Common Stock at a subscription price that has yet to be determined but is anticipated to be at a 10-12% discount to the average of the daily volume-weighted average prices of the Company's Common Stock for the five (5) trading days ending on and including the record date. The record date for the Rights Offering is 5:00 p.m. Eastern Time on March 27, 2026 (the "Record Date"). The Rights Offering is being conducted to support the Company's efforts to continue to increase earnings and shareholder return. Proceeds from the Rights Offering may be used for potential acquisitions, strategic investments, investment in a strategic RF fund, and/or general corporate purposes, which may include working capital, capital expenditures and repayment or refinancing of outstanding indebtedness, if any.

Each Rights holder who is a shareholder of record as of the Record Date who exercise their full basic subscription rights may also subscribe for any shares of Common Stock that remain unsubscribed at the expiration of the Rights Offering, subject to certain limitations (the "oversubscription privilege"). If the aggregate subscriptions (basic subscriptions plus oversubscriptions) exceed the amount offered in the Rights Offering, then the aggregate oversubscription amount will be pro-rated among the Company stockholders exercising their respective oversubscription privileges based on the number of shares of Common Stock each Rights holder requested in the oversubscription privilege. Rights acquired in the secondary market may not participate in the oversubscription privilege.

Assuming the Rights Offering is fully subscribed, the Company currently expects the gross proceeds of the offering to be approximately $42.7 million.

Trading in the Rights on NYSE American is expected to begin on a "regular way" basis on March 31, 2026, under the symbol "MPTI RT" and continue until the close of trading on NYSE American on April 13, 2026 (or, if the Rights Offering is extended, on the business day immediately prior to the extended expiration date). The Rights Offering is currently expected to commence promptly after the Record Date and expire at 5:00 p.m., Eastern Time, on April 15, 2026, unless extended by the Company.

Rights holders may exercise their Rights under the terms of a rights agreement and rights certificate that are expected to be filed with the Securities and Exchange Commission (the "SEC") on or about March 30, 2026. The Company expects to file with the SEC a prospectus supplement under its existing shelf registration statement on Form S-3, registering the subscription rights and the shares of Common Stock underlying the subscription rights.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not historical facts are forward-looking statements, including statements of expectations of or assumptions about the Company's financial and operational performance, revenues, earnings per share, cash flow or use, cost savings and operational efficiencies. The words "anticipate," "assume," "believe," "budget," "estimate," "expect," "forecast," "intend," "plan," "project," "will," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions, expected future developments, and other factors that the Company believes are appropriate under the circumstances. All forward-looking statements involve a number of known and unknown risks and uncertainties which could affect the Company's actual results and performance and could cause its actual results and performance to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company. Additionally, there can be no guarantee that any stockholder of the Company will exercise the rights offering held by such stockholder, and as a result there can be no guarantee that the Company will derive the benefits of the transaction described in this press release. Further information regarding the important factors that could cause actual results to differ from projected results can be found in the Company's reports filed with the SEC, including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, its Quarterly Reports on Form 10-Q, and its other filings with the SEC. Forward-looking statements are not guarantees of future performance and actual results or performance may be materially different from those expressed or implied in the forward-looking statements. The forward-looking statements in this press release speak as of the date of this press release. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. The Company does not undertake to update these forward-looking statements.

No Offer or Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A Form 8-A registration statement and prospectus supplement describing the terms of the Rights Offering and the shares of Common Stock issuable upon exercise thereof will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Holders of the Common Stock should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein. This press release contains a general summary of the Rights Offering. Please read the prospectus supplement, rights agreement and other materials that the Company files with the SEC when they become available as they will contain important information about the terms of the Rights Offering.

About Mtron

M-tron Industries, Inc. (NYSE American: MPTI) designs, manufactures, and markets highly engineered, high reliability frequency and spectrum control products and solutions. As an engineering-centric company, Mtron provides close support to its customers throughout our products' entire life cycle, including product design, prototyping, production, and subsequent product upgrades. Mtron has design and manufacturing facilities in Orlando, Florida, and Yankton, South Dakota, a sales office in Hong Kong, and a manufacturing facility in Noida, India. For more information, please visit www.mtron.com.

M-tron Industries, Inc. Investor Relations
Cameron Pforr
Chief Executive Officer
[email protected]

SOURCE Mtron

Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) said on Wednesday it lifted production and reserves in 2025, buoyed by strong performance at its flagship Murucututu field in Brazil.

The Calgary-based oil and gas producer reported average daily sales of 2,523 barrels of oil equivalent per day (boepd) for 2025, up 41% from a year earlier, while proved plus probable (2P) reserves rose 43% to 13.1 million boe.

“2025 was a transformational year for Alvopetro,” CEO Corey Ruttan said, citing the success of the company’s 183-D4 well at Murucututu. Ruttan added the company is “well positioned for another exceptional year in 2026” following record production early in the year.

Alvopetro said it is now focused on expanding infrastructure at Murucututu, targeting an increase in production capacity to 600,000 cubic metres per day from about 150,000 currently. The company also plans to enhance gas processing capacity at its Caburé facility to support higher volumes.

Fourth-quarter production rose to 2,867 boepd, up 65% from a year earlier, driven primarily by Brazil, where output averaged 2,719 boepd. Revenue for the quarter climbed 54% to $15.8 million, reflecting higher sales volumes despite weaker realized prices.

Net income for the quarter increased to $5.6 million from $2.3 million a year earlier, while funds flow from operations rose to $10.6 million.

For the full year, Alvopetro reported net income of $23.1 million, up 42% from 2024, and funds flow from operations of $40.6 million. Capital expenditures totaled $33.5 million.

The company’s reserve growth was underpinned by the Murucututu development, with proved reserves rising 79% to 8.1 million boe and a production replacement ratio of 485%. The associated net present value of 2P reserves increased 20% to $393.6 million.

Alvopetro said it plans additional drilling in 2026, including a new well targeting the Caruaçu formation at Murucututu, with drilling expected to begin next month. At its Caburé project, the company intends to sidetrack an unfinished well from 2025.

In Canada, the company said it has drilled additional wells and expanded its land position in Saskatchewan, targeting heavy oil opportunities in the Mannville formation.

Alvopetro also declared a quarterly dividend of $0.12 per share.

Key Dates and Disclosure Events Shareholders Need to Know

, /PRNewswire/ -- Levi & Korsinsky, LLP encourages investors who suffered losses in Snowflake Inc. (NYSE: SNOW) to contact the firm. WHO IS AFFECTED: Those who purchased SNOW securities between June 27, 2023 and February 28, 2024 may be entitled to recover damages. Find out if you are eligible to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

Snowflake shares fell $41.72 per share, an 18.14% decline, after the Company disclosed consumption headwinds and withdrew its $10 billion product revenue target. The window to apply for lead plaintiff closes on April 27, 2026.

June 27, 2023: Investor Day Optimism

Snowflake hosted an Investor Day presentation where management reaffirmed confidence that the Company would reach $10 billion in product revenue by 2029. Management characterized consumption as "back where we'd expect it to be" and portrayed Iceberg Tables as a workload expansion opportunity in "full alignment" with the business model. The lawsuit contends these statements omitted known risks that efficiency gains and new product formats would cannibalize consumption revenue.

August 23, 2023: Q2 Fiscal 2024 Earnings Call

Management described consumption as "good" and told analysts that "stabilization is the right term." The action claims management touted upcoming product launches, including Streamlit, Unistore, and Containerized Services, as catalysts for revenue growth reacceleration, while failing to disclose material headwinds already affecting the consumption model.

November 29, 2023: Q3 Fiscal 2024 Earnings Call

Management reported "strong consumption from a broad base of customers" and highlighted new large-account wins. As alleged, tiered storage pricing had already begun rolling out to the Company's biggest customers, and large customers had already communicated their plans to adopt Iceberg Tables, yet these headwinds were not disclosed.

February 28, 2024: The Corrective Disclosure

After the market closed, Snowflake disclosed Q4 and full fiscal year 2024 results and provided guidance that shocked investors:

Acknowledged "increased revenue headwinds" from product efficiency gains, tiered storage pricing, and Iceberg Table adoption Revealed a 6.2% to 6.3% revenue impact from efficiency gains alone Lowered FY 2025 product revenue guidance to 22% year-over-year growth versus the 30% market expectation Withdrew the long-standing $10 billion 2029 product revenue target Disclosed that tiered storage pricing had started rolling out in Q3 and ramped through Q4 Submit your claim before the deadline or call Joseph E. Levi, Esq. at (212) 363-7500.

"Timely disclosure of material developments is fundamental to fair and efficient markets. The chronology in this case raises questions about the gap between when certain headwinds were known internally and when they were communicated to the investing public." -- Joseph E. Levi, Esq.

ABOUT THE FIRM -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Those wishing to serve as lead plaintiff must act by April 27, 2026.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP

QEW tracks the Nasdaq-100 Equal Weighted™ Index, offering investors a balanced way to access the innovation leaders featured in Invesco QQQ

, /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, today announced the expansion of the Invesco QQQ Innovation Suite with the launch of the Invesco QQQ Equal Weight ETF (QEW). The newest addition offers investors a balanced way to access the groundbreaking companies of the Nasdaq‑100 Index® through an equal‑weight methodology designed to help mitigate concentration risk while preserving exposure to the innovation‑driven companies that define the Index.

"The longstanding partnership between Nasdaq and Invesco continues to deliver differentiated strategies, and we are excited to bring a Nasdaq-100 equal‑weight approach to our QQQ lineup," said Brian Hartigan, Global Head of ETFs & Index Investments at Invesco. "QEW provides investors with a straightforward way to reduce single‑stock concentration while maintaining access to the innovative, growth‑oriented companies that have shaped the Nasdaq‑100 for decades. As investor needs evolve, QEW further strengthens the Invesco QQQ Innovation Suite, which offers a versatile set of tools designed to access Nasdaq companies and support a wide range of outcomes."

QEW tracks the Nasdaq‑100 Equal Weighted™ Index, which includes the same 100 non‑financial companies as the Nasdaq‑100 Index but assigns each constituent an initial 1% weight. The index is rebalanced quarterly, offering investors a systematic way to broaden participation beyond the largest mega‑cap names and capture exposure across the full breadth of the Nasdaq‑100 universe.

"Invesco and Nasdaq have been breaking new ground together for years, and we're excited to expand our partnership with a new addition to the Invesco QQQ Innovation Suite," said Emily Spurling, Senior Vice President and Head of Global Index at Nasdaq. "The Nasdaq-100 Index is one of the world's most recognized benchmarks for innovative, growth-oriented companies listed on Nasdaq, and we're excited to support a balanced way to access the leaders it represents."

The Invesco QQQ Innovation Suite now includes ten unique ETFs, giving investors multiple ways to access the companies powering various Nasdaq Indexes. The Suite includes the flagship Invesco QQQ, which offers deep liquidity and a 27‑year live track record, as well as QQQM, which offers the same Nasdaq‑100® exposure with a lower cost structure for long‑term investors.

QEW complements existing strategies within the Invesco QQQ Innovation Suite by offering a differentiated risk profile and an alternative, diversified path to the same universe of innovative companies. With the launch of QEW, investors now have access to one of the most robust suites of Nasdaq‑100‑focused ETFs in the market – spanning mega‑cap concentration, next‑generation innovation, low volatility, option overlay, and now equal weight.

"With market concentration elevated and leadership rotating beneath the surface, investors are looking for ways to stay invested in innovation while reducing reliance on a handful of mega‑cap names," said Paul Schroeder, Director & QQQ Product Strategist at Invesco. "An equal‑weight approach helps by spreading exposure more evenly across the Nasdaq‑100. QEW diversifies the QQQ Innovation Suite by offering investors yet another path to the innovators shaping the future, and another precise tool to tailor allocations to their preferred themes and risk profiles."

Additional investment options within the Invesco QQQ Innovation Suite include Invesco NASDAQ Next Gen 100 ETF (QQQJ), which offers exposure to the next generation of Nasdaq‑listed innovators, as well as Invesco NASDAQ Future Gen 200 ETF (QQQS), which offers access to companies advancing future technological breakthroughs via patent‑based innovation metrics. Some recent additions to the Suite, include Invesco QQQ Income Advantage ETF (QQA), which incorporates an active option‑income overlay; Invesco Top QQQ ETF (QBIG), which targets the top 45% of the Nasdaq‑100 by cumulative market capitalization; and Invesco QQQ Hedged Advantage ETF (QQHG) which offers exposure to the Nasdaq‑100 while using options to help reduce downside risk during market declines.

About Invesco Ltd.
Invesco Ltd. is one of the world's leading asset management firms serving clients in more than 120 countries. With US$2.2 trillion in assets under management as of Dec. 31, 2025, we deliver a comprehensive range of investment capabilities across public, private, active, and passive. Our collaborative mindset, breadth of solutions and global scale mean we're well positioned to help retail and institutional investors rethink challenges and find new possibilities for success. For more information, visit www.invesco.com.

Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s products and is a wholly owned, indirect subsidiary of Invesco Ltd.

About Risk
There are risks involved with investing in ETFs, including possible loss of money. Index-based ETFs are not actively managed. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Both index-based and actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

QEW
Invesco QQQ Equal Weight ETF (the "Fund") seeks to track the investment results (before fees and expenses) of the Nasdaq – 100 Equal Weighted Index (the "Underlying Index").

Not a Deposit; Not FDIC Insured; Not Guaranteed by the Bank; May Lose Value; Not Insured by any Federal Government Agency

Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 10,000, 20,000, 25,000, 50,000, 80,000, 100,000 or 150,000 Shares.

Because the underlying Fund operates as a passively managed index fund, adverse performance of a particular stock ordinarily will not result in its elimination from the underlying Fund's portfolio. Ordinarily, the Adviser will not sell the underlying Fund's portfolio securities except to reflect changes in the stocks that comprise the Index, or as may be necessary to raise cash to pay underlying fund shareholders who sell underlying fund shares.

QQA & QQHG
Securities held by the Fund are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Fund's portfolio. Additionally, natural or environmental disasters, widespread disease or other public health issues, war, military conflicts, acts of terrorism, economic crises or other events could result in increased premiums or discounts to the Fund's net asset value ("NAV").

The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.

While the Fund is actively managed, a substantial portion of the Fund's portfolio is designed to track the performance of the Index. In managing this portion of the Fund's portfolio, the portfolio managers will not generally buy or sell a security unless that security is added or removed, respectively, from the Index, regardless of the performance of that security. If a specific security is removed from the Index, the Fund may be forced to sell such security at an inopportune time or for a price lower than the security's current market value.

In general, equity values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic and political conditions.

Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

Information Technology Sector Concentration - Investments focused in a particular sector, such as information technology, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

Derivatives - Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.

The put/collar strategy used to seek to protect the Fund against a decline in value may not work as intended.

A decision as to whether, when and how to use options involves the exercise of skill and judgment and even a well-conceived option transaction may be unsuccessful because of market behavior or unexpected events. The prices of options can be highly volatile and the use of options can lower total returns.

Short sales may cause an investor to repurchase a security at a higher price, causing a loss. As there is no limit on how much the price of the security can increase, exposure to potential loss is unlimited.

The Fund is non-diversified and may experience greater volatility than a more diversified investment.

The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole.

The Fund is subject to numerous market trading risks, including the potential lack of an active market, losses from trading in secondary markets, and disruption in the creation/redemption process. During stressed market conditions, Shares may become less liquid as a result of deteriorating liquidity which could lead to differences in the market price and the underlying value of those Shares.

The risks of investing in securities of foreign issuers, including emerging markets, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

Stocks of small and medium-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.

A value style of investing is subject to the risk that the valuations never improve or that the returns will trail other styles of investing or the overall stock markets.

REITs are pooled investment vehicles that trade like stocks and invest substantially all of their assets in real estate and may qualify for special tax considerations. REITs are subject to risks inherent in the direct ownership of real estate. A company's failure to qualify as a REIT under federal tax law may have adverse consequences to the REIT's shareholders. REITs may have expenses, including advisory and administration, and REIT shareholders will incur a proportionate share of the underlying expenses.

Nasdaq‑100 Equal Weighted™ Index

The Nasdaq-100 Equal Weighted Index is the equal weighted version of the Nasdaq-100 Index which includes 100 of the largest non-financial securities listed on The Nasdaq Stock Market based on market capitalization. The Index contains the same securities as the Nasdaq-100 Index, but each of the securities is initially set at a weight of 1.00% of the Index which is rebalanced quarterly.

On June 20, 2005, the Nasdaq-100 Equal Weighted Index began at a base value of 1000.00.

Nasdaq®, Nasdaq-100 Index®, Nasdaq-100®, Nasdaq-100 Equal Weighed™, QQQ®, and the Nasdaq Stock Market® are registered and unregistered trademarks of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.

Invesco Distributors, Inc.      03/26     NA 5299706

NOT A DEPOSIT l  NOT FDIC INSURED  l  NOT GUARANTEED BY THE BANK  |  MAY LOSE VALUE  |  NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Contact: Samantha Brandifino, [email protected], 332.323.5557

SOURCE Invesco Ltd.

Edmonton, Alberta--(Newsfile Corp. - March 18, 2026) - Visionstate Corp. (TSXV: VIS) today provided an operational update highlighting continued subscription growth and expanding adoption of its MIRA compliance platform, building on the baseline metrics previously reported for fiscal 2026.

Since the Company's last update, Visionstate has added 11 new location subscriptions across 12 installations during the period from early February through mid-March 2026, further strengthening its recurring revenue base. This represents approximately $11,000 in new revenue for the quarter and approximately $33,000 in annual license fees to be invoiced each January.

As a subscription-based model, these revenues are cumulative, with each new deployment building on the existing base and increasing the predictability and scale of recurring revenue over time. The Company currently reports approximately 145 active annual location subscriptions, representing its existing recurring revenue base, which continues to grow through new deployments and subscription additions.

"This level of growth, driven through a single distribution partner, provides a clear foundation for scaling the MIRA platform," said John Putters, CEO of Visionstate Corp. "As we expand our distribution footprint, particularly into the U.S., we believe this model will support a higher rate of subscription growth going forward."

MIRA is Visionstate's compliance-intelligence platform designed to help facilities digitally verify cleaning activities, conduct inspections, and generate audit-ready data in real time. As regulatory requirements and liability considerations increase, such as Bill 190 in Ontario, facility operators are moving away from manual logs toward systems that provide verifiable, time-stamped records of work performed.

Across healthcare, public venues, transportation hubs, and commercial buildings, the ability to demonstrate compliance is becoming a legislated or baseline expectation rather than an added feature. MIRA addresses this shift by transforming routine operational tasks into structured, reportable data that supports transparency, accountability, and informed decision-making.

Healthcare Pilot and New Market Penetration

Three of the new subscriptions were deployed under a pilot agreement with a U.S.-based facilities services distributor, representing early installations across multiple healthcare facilities. These initial deployments include two large regional hospitals and an ambulatory care centre within a major metropolitan healthcare system.

"These early installations demonstrate the importance of compliance verification in high-traffic environments such as healthcare," said Putters. "Organizations are increasingly focused on documented cleaning standards, audit readiness, and liability management, all of which are supported through the MIRA platform."

Expansion Across Multiple Facility Types

In addition to the healthcare pilot deployments, four additional subscriptions were added across five locations, including industrial facilities, educational environments, large public venues, and airport-related service operations.

These deployments highlight the broad applicability of the MIRA platform across diverse facility types where compliance, operational transparency, and customer confidence are critical.

"These are cumulative, multi-year subscription agreements that contribute to our growing recurring revenue base," Putters added. "Each additional deployment strengthens the foundation of the platform and moves us closer to operating scale."

New Distributor Activity

The Company also confirmed that a newly onboarded distributor has initiated installations, contributing four additional locations to the platform. These early deployments include a film production studio facility, representing a new industry segment for Visionstate's compliance technology. The value of this relationship is expected to contribute additional recurring revenue through annual license renewals and support the Company's path toward operating scale.

Subscription Model and Path to Scale

Visionstate's subscription model is structured around recurring location-based pricing of approximately $960 per location annually, with additional modules such as MIRA Inspections available at approximately $80 per month per location.

Management continues to view subscription growth as the primary driver toward profitability. As previously disclosed, approximately 400 active monthly location subscriptions are estimated to be required to achieve operating break-even within Visionstate IoT Inc., the Company's operating subsidiary.

"These recent additions build on our existing subscription base and demonstrate the early momentum of our compliance-intelligence model," said Putters. "With additional distributors coming online, we expect this growth trajectory to continue as additional distribution channels come online."

Compliance-Driven Market Opportunity

Visionstate continues to position MIRA as a compliance-intelligence platform designed to support:

Regulatory requirements such as Ontario's Bill 190Digital verification of cleaning and operational workflowsInspection auditing and documentationLiability mitigation related to facility conditionsData-driven operational decision-makingManagement believes these trends reflect a broader shift toward accountability and transparency across physical environments.

About Visionstate Corp.

Visionstate Corp. (TSXV: VIS) is a technology company focused on compliance-driven subscription solutions for regulated and high-traffic facilities. Through its wholly owned subsidiary, Visionstate IoT Inc., the Company delivers the MIRA platform, which enables organizations to digitally verify, audit, and document operational activities in support of regulatory transparency and accountability requirements.

The Company's subscription-based platform is deployed across hospitals, airports, shopping centres, educational institutions, and other public facilities across North America.

Issued on behalf of the Board of Directors,

"John A. Putters"
Visionstate Corp.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288853

Source: Visionstate Corp.

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Toronto, Ontario--(Newsfile Corp. - March 18, 2026) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCD) (WKN: A41V6H) ("Canuc" or the "Company") is pleased to announce results for 15 holes of a diamond core drilling program defining Gold Lens 1 on the Company's 100% owned East Sudbury Project (ESP). The results from 3 holes were previously released (Company press release December 1st, 2025).

Gold Lens 1 is located approximately 120 m north of the underground workings of the past producing Scadding Gold Mine. At least 147 historical drill holes have been reported to have tested Gold Lens 1. The drill core for 62 of these holes is stored on-site and the collar locations as well as the analytical, logging and other technical information for these holes has been verified and is considered reliable.

Three holes were collared on the west and south boundaries of the zone and defined the limits of the zone in these directions. Two holes were collared on the south side of the NE plunging mineralized zone and drilled beneath the keel. One hole intersected a diabase dyke that cuts across the projected target zone, and one hole was lost in overburden.

The objective of this drill program was to define the outside boundaries of Gold Lens 1 and to add infill holes within the mineralized zone. Gold Lens 1 begins on surface and dips at approximately 45 degrees and plunges more steeply towards the northeast. This zone is identified over a strike length of 80 meters on surface and is seen to have widths ranging from 3 - 5 m and has been intersected by drill holes below a depth of 100 m.

The information from this drilling program is being integrated with relevant data from previous drilling programs in Gold Lens 1 in order to refine a block model of the zone and to assess the potential tonnages of a near surface, relatively high-grade, gold bearing Fe-Chlorite zone. The zone is open down plunge where additional drilling is still being considered.

The location, purpose and results from these 15 holes are outlined in Table 1.

Table 1.

Drill Hole Id.EastingNorthingElevationAzimuthDipDepthFrom (m)To (m)Width (m)Au (g/t)SM-25-1215291215166703306.6300-6551Outside the boundary of Main ZoneSM-25-1225291165166691307225-4551Outside the boundary of Main ZoneSM-25-1235291145166697306.5300-654819.624.65.03.00(Incl)

19.620.61.012.00SM-25-1245292335166676317245-55117Drilled beneath keel of zoneSM-25-1255292845166732313295-5510135.038.03.06.89SM-25-1265292525166655315295-5518.7Hole lost in overburdenSM-25-1275291405166656314.8325-4666* 11.4 m intersection - Pending QA/QCSM-25-1285291245166617313300-4566Drilled beneath keel of zoneSM-25-1295291585166634313300-458145.051.06.02.51(Incl)

50.051.01.06.59SM-25-1305291025166641310.2300-4551Outside the boundary of Main ZoneSM-25-1315291095166656657300-4546.38.4178.60.32(Incl)

15.5160.54.75SM-25-1325291105166656309.6330-45514.916.411.53.18(Incl)

5.86.81.032.10SM-25-1335291635166682306.5300-45
13.021.08.01.29(Incl)

13.014.01.09.63SM-25-1345291655166681306.5300-65
Intersected diabase dykeSM-25-1355291805166713306.8240-45
43.054.611.60.40(Incl)

49.050.01.01.38* Failed QA/QC - being re-assayed

"These results confirm continuity for Gold Lens 1 as a discrete, relatively high-grade gold bearing geological structure which starts on surface 120 m north of the past producing Scadding Gold Mine," stated Christopher Berlet, President & CEO of Canuc Resources Corp.

"Our next step will be to complete the engineering required to evaluate the extractive opportunity represented by this high-grade Gold Lens 1.

"We are now pursuing two simultaneous objectives on the company's 100% owned East Sudbury Project (ESP) which covers almost 200 km2 on the eastern flank of Canada's leading mining jurisdiction, the Sudbury Basin.

"Firstly, we are scoping near-term gold production from gold contained in tailings and from the multiple high-grade gold zones which are evidenced in discrete gold lenses coming to surface in the area surrounding the old Scadding Gold Mine workings. Secondly, we are pursuing large scale source deposit discovery with the objective of proving a much larger feeder system deposit model for the high-grade gold and copper mines found across the property.

"This combination allows us to pursue 100% ownership of large-scale source deposit discovery potential, IOCG deposit types, in Canada's leading extractive jurisdiction, while also seeking cash flow opportunities in order to minimize shareholder dilution."

Canuc's updated website and PowerPoint can be found at: www.canucresources.ca.

The technical information in this release has been reviewed and approved by Seymour Sears, B.A., B.Sc., P.Geo, a non-independent qualified person as defined by NI 43-101, who is currently managing exploration activity on the ESP Project.

About Canuc Resources Corporation

Canuc Resources Corporation is a junior resource company developing its 100% interest in the East Sudbury Project ("ESP") which spans 19,782 hectares and is centered approximately 20 kilometers northeast of the Prolific Sudbury Mining Camp and near to the extensive infrastructure of the adjacent Sudbury Mining District. ESP encompasses several centers of critical and precious metal mineralization interpreted to be related to a mineral system that can form IOCG and affiliated critical and precious mineral deposits. Included within the Project is the historical Scadding Gold Mine and associated Scadding Gold Tailings Project.

Canuc also holds a 100% interest in the San Javier Silver-Gold Project located in Sonora State, Mexico. The San Javier Silver-Gold Project spans 28 claims covering 1,052 hectares and evidences extensive silver, gold and copper mineralization interpreted to be related to a mineral system that can form silver-dominant IOCG and affiliated deposits.

Canuc generates cash flow from natural gas production at its MidTex Energy Project located in Central West Texas, USA where Canuc has an interest in eight (8) producing natural gas wells and has rights for further in field developments. The Company also receives a 4% Net Smelter Royalty from gold production at the Scadding Gold Tailings Project located on Mining Claim LEA 107735 within the ESP property group.

For further information, please refer to the Company website: www.canucresources.ca.

Christopher J. Berlet B.A.Sc. (Mining), CFA, CEO & Director of Canuc, is responsible for the content of this press release.

Forward-Looking Information

This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.

When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.

The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288877

Source: Canuc Resources Corporation

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Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Inspiration Mining Corp. (CSE: ISP) (OTCID: ISPNF) (WKN: A40GPX) ("Inspiration" or the "Company") Inspiration is pleased to announce that it has closed a first tranche of the non-brokered Critical Minerals Flow Through private placement which was announced March 11, 2026. The Company intends to issue 3,533,333 Critical Minerals Flow Through shares (the "FT Shares") at a price of $0.15 per FT Share for aggregate gross proceeds of $529,999.95.

Each FT Share will qualify as a Critical Minerals Flow Through share under the Income Tax Act (Canada).

Proceeds raised will be used to advance the Stockwork property located in British Columbia and the Rottenstone North Gold Property in Saskatchewan. The proceeds from the FT Share will be utilized for incurring "Canadian Exploration Expenses" and "Flow-through Critical Mineral Mining Expenditures" as defined in the Income Tax Act (Canada).

FT Shares issued pursuant to the financing will be subject to a four-month and one-day hold period according to applicable securities laws of Canada.

About Inspiration Mining Corp.

Inspiration Mining Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company's properties. For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).

On Behalf of the Board of Directors
Charles Desjardins
CEO, President and Director
Phone: 604-808-3156
Email: [email protected]

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca).

Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288935

Source: Inspiration Mining Corp.

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Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) is advancing its major silver discovery in southern Bolivia's Iska Iska district, highlighting continued drilling programs and expanded understanding of one of the region's significant silver-tin polymetallic systems. Ongoing infill drilling and planned studies are designed to support further evaluation as the project moves toward the next stage of development. Eloro has entered into contract with the world's leading provider of specialized drilling services, Major Drilling Group International Inc.

http://www.b-tv.com/post/eloro-resources-advances-major-silver-discovery-in-southern-bolivia-btv-60

Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF)

https://elororesources.com/en/investors/investor-centre/

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About BTV - Business Television:

For over 25 years, BTV has been a capital markets focused TV production and Digital Marketing Agency. BTV helps companies increase their brand awareness to a national retail and institutional investor audience, combining unique content creation and major distribution services on top tier networks including Bloomberg, CNBC, FOX Business News and financial sites. The BTV suite of strategic products include: BTV- Business Television Show, CEO Clips™, TV Branding Ads, Digital, Lead Gen, Social and Direct Email Marketing Campaigns that reach investors where they research and live on-air and online.

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Contact: Trina Schlingmann (604) 664-7401 x 5 [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288967

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, /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF),  ("TOYO" or the "Company"), a solar solution company, today announced a planned leadership transition and the strengthening of its executive team to support the Company's next phase of growth.

CEO and Chairman Retirement

The Company announced that Junsei Ryu retired from his role as Chief Executive Officer and Chairman of the Board effective March 18, 2026.  Mr. Ryu plans to continue to serve as an advisor to the Board for a 12‑month transition period to ensure an orderly handover of responsibilities.

"The Board is deeply grateful to Mr. Ryu for his exceptional leadership in taking the Company public in 2024, driving our expansion into Ethiopia and the U.S., and for his unwavering commitment to our customers, partners, and employees," said Alfred "Trey" Hickey, an Independent Director of TOYO. "He has positioned the Company on a strong footing, with a clear strategy and a robust balance sheet, and we wish him the very best in his retirement."

Appointment of New CEO and Chairman

Mr. Takahiko Onozuka is appointed as CEO and Chairman of the Board as of March 18, 2026. He is an accomplished global executive with over 40 years of experience in international finance, energy infrastructure, and decarbonization. He has strong track record in project and structured finance, business origination, risk management, and stakeholder engagement across Asia, Europe, the Middle East, and Africa.

Prior to joining the Company, he held senior roles at Japan Bank for International Cooperation ("JBIC") and Sumitomo Corporation, leading major cross‑border projects in oil and gas, power generation, liquefied natural gas, railways, and renewable energy. Since September 2025, he has served as General Manager of the Global Decarbonization Promoting Office at Abalance Corporation, driving key energy transition initiatives.

Mr. Onozuka holds a Bachelor of Laws (LL.B.) from Waseda University, has completed advanced coursework in physics and engineering at Tokyo Institute of Technology, and holds multiple nationally accredited certifications in energy management and power systems.

"I am honored to be chosen to lead TOYO at such an exciting moment for the Company and the solar industry," said Mr. Onozuka. "Building on the strong foundation the team has created, we will continue to invest in advanced solar technologies and resilient supply chains, deepen our strategic partnerships, and deliver sustainable, long‑term value for our shareholders."

About TOYO Co., Ltd.

TOYO is a solar solutions company committed to becoming a full-service solar solutions provider in the global market, integrating upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "look forward to," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled "Risk Factors" in TOYO's annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in TOYO's subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. TOYO specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

Contact Information:

For TOYO Co., Ltd.
[email protected]

Crocker Coulson
Email: [email protected]
Tel: (646) 652-7185

SOURCE TOYO Co., Ltd

March 18, 2026 09:00 ET  | Source: Sprout Social, Inc

Sprout earned the #1 spot in 59 of G2’s 2026 Winter Reports, including the Grid® Report for Social Media Listening Tools, Social Customer Service and the Enterprise Grid® Report for Social Media Analytics.The company received 198 leader badges across all business segments and regions. CHICAGO, March 18, 2026 (GLOBE NEWSWIRE) -- Sprout Social (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today announced a sweep of honors in G2’s 2026 Winter Reports, earning 198 leader badges across all business segments—from small business to enterprise—and spanning every global region.

Sprout Social ranked #1 in 59 individual G2 reports, including the Grid® Report for Social Media Listening Tools, the Enterprise Grid® Report for Social Media Analytics and the Grid® Report for Social Customer Service. Driven by verified customer reviews, these rankings demonstrate the increasing strategic value and impact of Sprout’s platform for brands navigating the evolving social landscape.

Social media has become an immediate and rich source of market and customer insight. This recognition comes as Sprout Social advances social intelligence and AI innovations that help brands move from reactive listening to predictive decision-making. By turning social data into forward-looking intelligence through tools such as Sprout AI and its proprietary AI agent Trellis, Sprout enables organizations to anticipate change, strengthen customer trust and drive sustained growth.

“Social media is increasingly central to how organizations understand markets, customers and culture, and the industry is moving toward AI-driven approaches to make sense of that volume and complexity,” said Scott Morris, chief marketing officer at Sprout Social. “We are proud to be recognized by G2, which reflects both our consistency in the market and the growing role of social as a vital business tool. Social intelligence is helping organizations move from reactive engagement to predictive insight, using social data to better understand their customers, the market and what comes next.”

Sprout Social earned its place on these lists because of customer feedback, including:

“Sprout Social is among the best tools out there in this space: It's a mature, full-featured social media management platform that excels in analytics, governance, team workflows and cross-platform publishing. It truly offers a robust enterprise-grade experience.”

“Sprout Social offers AI-driven insights that act like a mini strategy consultant, providing valuable guidance for identifying customer pain points.”

“Sprout is an indispensable tool for any modern social media marketing team. Its content management, scheduling, and reporting capabilities are all excellent, and the influencer marketing platform stands out as the best in the industry.”

“Sprout Social has become an essential part of our marketing toolkit. The reporting features are especially strong—clear, customizable, and easy to share with stakeholders. We also rely heavily on the listening tools, which help us stay ahead of conversations and understand our audience more deeply.”

For more information about Sprout Social and its award-winning platform, visit www.sproutsocial.com.

About Sprout Social

Sprout Social is a global leader in social media management and analytics software, built on the belief that All Business is Social℠. Sprout’s intuitive platform puts powerful social data into the hands of tens of thousands of brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2’s 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com.

Social Media Profiles:
www.x.com/SproutSocial
www.x.com/SproutSocialIR
www.facebook.com/SproutSocialInc
www.linkedin.com/company/sprout-social-inc-/
www.instagram.com/sproutsocial

Contact
Media:
Kaitlyn Gronek
Email: [email protected]
Phone: (773) 904-9674

Investors:
Lexi Johnson
Email: [email protected]
Phone: (312) 528-9166

, /PRNewswire/ -- RELEX Solutions today announced that it will be extending its relationship with Lowe's Companies, Inc. (NYSE: LOW) and Accenture (NYSE: ACN) to unify Lowe's inventory replenishment and allocation platform. This partnership, featuring RELEX's AI-driven technology and Lowe's proprietary supply chain technology, enhances efficiency, improves inventory availability, and drives productivity across Lowe's stores, merchandising, and supply chain operations to better serve the home improvement retailer's DIY and Pro customers. 

Building on RELEX's existing support of Lowe's seasonal businesses through its allocation platform, this latest initiative will see Lowe's expand its use of RELEX's AI-powered replenishment capabilities across its full assortment of products and nationwide network of stores and distribution centers. Additionally, Lowe's is partnering with Accenture to provide strategic and functional support for integrating RELEX across its supply chain. This collaboration enables Lowe's to deliver an exceptional customer experience in store and online, while providing continuous visibility and automation across the end-to-end supply chain.

RELEX's replenishment capabilities automate the complex process of ordering, which improves product availability, inventory productivity, and streamlines planning to ensure depth of inventory to serve Lowe's customers. RELEX also adds visibility into inventory performance and pinpoints the root causes of stockouts, enabling Lowe's teams to act swiftly and make more informed decisions across supply chain, merchandising, and store operations.

"Expanding our use of RELEX accelerates Lowe's transformation toward a fully integrated, AI-driven inventory platform," said Margi Vagell, Lowe's Executive Vice President, Supply Chain. "By partnering with RELEX and Accenture, we will equip our teams with enhanced tools that help us respond more quickly to customer demand, improve product availability and deliver a better experience for our DIY and Pro customers."

"Lowe's expansion of RELEX is a strong example of how leading retailers are reimagining supply chains as engines for growth," said Keith Adams, Senior Vice President for North America at RELEX Solutions. "We are proud to support replenishment at scale, giving Lowe's the confidence and flexibility to execute on its Total Home strategy. We look forward to delivering measurable value together."

About RELEX Solutions

RELEX Solutions provides a unified, AI-native platform for retail and supply chain planning and is trusted globally for its consistently high customer satisfaction. RELEX helps retailers, manufacturers, and wholesalers optimize demand, inventory, merchandising, pricing, and supply and production planning to improve availability and efficiency at scale. Brands like ADUSA, Camco, Carhartt, COSMOS Pharmaceutical Corporation, Circle K, Dollar Tree and Family Dollar, Ford South America, M&S Food, PetSmart, Rituals, The Body Shop and Vita Coco trust RELEX to increase product availability, boost sales, deliver actionable insights, improve sustainability, and drive profitable growth. Learn more at: relexsolutions.com/customers

SOURCE RELEX Solutions

, /PRNewswire/ --  TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF),  ("TOYO" or the "Company"), a solar solution company, today announced preliminary, unaudited and unreviewed FY 2025 results for the fiscal year ended December 31, 2025. These figures demonstrate solid execution against the Company's raised full-year outlook from September 2025, fueled by capacity expansions and sustained demand in the global renewable energy market.

FY2025 Preliminary Performance Highlights

Revenue: Delivering stronger than expected performance, the Company achieved approximately $427 million, beating the previously updated guidance range of $375–$400 million issued in September 2025 and reflecting substantial year-over-year growth. This was driven by increased production volumes and strong orders from utility-scale and commercial customers worldwide. Solar Cell Shipments: Approximately 4.5 GW, surpassing previously announced full-year target of 4.2–4.4 GW. Key contributors included the successful ramp-up and full utilization of the Company's 4 GW solar cell facility in Ethiopia, which began commercial production in 2025. Solar module shipments: Approximately 249MW, since commencing commercial production in October 2025. EBITDA: Approximately $96 million, supported by operational efficiencies, improved margins from scaled production, and cost optimizations across the supply chain. Net Income: Approximately $38 million. Net income includes a one-time share-based compensation of approximately $14 million. These preliminary results underscore TOYO's progress in building a resilient, vertically integrated solar value chain, with strategic facilities in Ethiopia and the United States enhancing supply chain security and competitiveness amid evolving trade dynamics. "2025 was a transformative year for TOYO, as we delivered on our elevated guidance and made meaningful strides in global manufacturing scale," said Takahiko Onozuka, Chairman and CEO of TOYO. "The rapid ramp of our Ethiopia cell facility has strengthened our position to meet rising demand for reliable, cost-effective solar solutions. We are focused on further integration, innovation, and sustainable expansion to create long-term value for shareholders and stakeholders in the clean energy transition."

Earnings Call Schedule

TOYO will host the FY2025 financial results earnings conference call on March 31st, 2026, 8:30 am ET.  

Date: Tuesday, March 31, 2026

Time: 8:30 AM ET

Live Webcast: https://events.q4inc.com/attendee/197358704

The FY 2025 earnings release and related investor deck will be available on the investor relations website at investors.toyo-solar.com prior to the event.

The dial in numbers for the conference call will be as follows:

Participant Toll-Free Dial-In Number: (800) 715-9871

Participant Toll Dial-In Number: (646) 307-1963

Japan - Tokyo: +81.3.4578.9081

Conference ID: 7240281

About TOYO Co., Ltd.

TOYO is a solar solutions company committed to becoming a full-service solar solutions provider in the global market, integrating upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "look forward to," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled "Risk Factors" in TOYO's annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in TOYO's subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. TOYO specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

Contact Information:

For TOYO Co., Ltd.
[email protected]

Crocker Coulson
Email: [email protected]
Tel: (646) 652-7185

SOURCE TOYO Co., Ltd

For years, Ripple's XRP (XRP 0.16%) has remained one of the top cryptocurrencies in the world. After reaching a $200 billion market cap last year, the crypto project still commands a valuation of nearly $100 billion after a steep plunge in crypto markets globally.

But if you ask Ripple's most bullish investors, many see the project's valuation exceeding $1 trillion during the next decade. Why? There are two key catalysts to watch closely.

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1. Ripple is betting aggressively on building a global ecosystem For years, Ripple, the closely held company that developed XRP, bet aggressively on its network replacing legacy international payment systems like SWIFT (Society for Worldwide Interbank Financial Telecommunication), which process trillions of dollars in transfers every year. But recently, the company has pivoted slightly to focus on an ecosystem approach rather than a direct replacement. This ecosystem focus is what has Chief Executive Officer Brad Garlinghouse bullish on Ripple's potential to reach a $1 trillion valuation.

"There will be a trillion-dollar crypto company, I don't doubt that for a second," Garlinghouse said last month. "I think Ripple has the opportunity, if we do things well in partnership with the overall XRP ecosystem, to be that company."

What exactly is Garlinghouse talking about when he references the "overall XRP ecosystem"? At its core would sit the XRP ledger itself. That blockchain includes all of the usual components: independent validators, open-source protocols, and consensus-based settlements.

Ripple's ecosystem consists mostly of projects building on top of this foundational layer. That would include things like decentralized finance (DeFi) tools and applications and customized payment solutions developed for third-party usage. The ecosystem layer would also include wallets, developer APIs, and liquidity providers like crypto exchanges and custody services that make the XRP Ledger more practical for adoption.

In short, Ripple has realized after years of limited adoption that its success will not be based on industry use of its technology outright. Instead, it will be investing heavily to build a supporting ecosystem of developers, exchanges, tools, and institutional partnerships that can drive value for the network from a variety of endpoints.

Image source: Getty Images.

2. Tokenizing real-world assets could be a game changer A fully developed Ripple ecosystem would create what Ripple's leadership team has deemed "the Internet of Value." This system would not only be a central hub for crypto assets but also for traditional assets that could, at least on paper, be easily tokenized for use in wider decentralized markets.

This is arguably the holy grail of crypto markets. Not only would decentralized assets be usable by increasingly complex network layers, but also traditional securities like bonds, stocks, real estate, and commodities.

Bringing these assets on-chain would create huge value and validation for crypto markets. And Ripple believes it has the lead in making this potential a reality, with its network sitting at the core of this evolution.

This isn't a pipe dream. Many experts -- including global financial leaders like Deloitte and Citigroup -- believe trillions of dollars of tokenized assets will move on-chain during the next decade. If Ripple is the primary enabler of this transition, a $1 trillion market cap certainly is not out of the question in the long term.