Market Signal Briefing

SAN FRANCISCO, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals Limited (NASDAQ: TLX), a commercial-stage biopharmaceutical company focused on medical imaging and therapeutic radiopharmaceuticals, is now the target of a securities class action lawsuit, capping a tumultuous several months that saw the company's stock crater following revelations of a regulatory subpoena and an FDA rejection letter.

National shareholders rights firm Hagens Berman is actively investigating the alleged legal claims and urges Telix investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys.

Telix Pharmaceuticals Limited (TLX) Securities Class Action:

The case, styled Thomas v. Telix Pharmaceuticals Ltd., et al., No. 1:25-cv-02299 (D. Ind.), seeks to represent investors in Telix Pharmaceuticals Ltd. (NASDAQ: TLX) who purchased or otherwise acquired Telix securities between February 21, 2025 and August 28, 2025.

The litigation is focused on the propriety of Telix’s statements concerning certain of its prostate cancer therapeutic candidates (TLX591 and TLX592) and also on company statements concerning Zircaix, its candidate which would be used to help detect a specific type of kidney cancer.

During the Class Period, Telix assured investors that “[w]e’re making great progress across our therapeutic pipeline, notably in the late-stage assets being brain, kidney and, of course our prostate cancer program which is now in Phase 3.” The company has also touted its “truly global manufacturing capability” as a “very important source of our competitive advantage[.]”

The lawsuit alleges that Telix made false and misleading statements while failing to disclose crucial information to investors. The complaint alleges that Telix materially overstated the progress being made with regard to its prostate cancer therapeutic candidates and materially overstated the quality of its supply chain and manufacturing partners.

According to the complaint’s allegations, investors were surprised on July 22, 2025, when Telix revealed that it is the subject of an SEC investigation into the company’s disclosures “regarding the development of the Company’s prostate cancer therapeutic candidates” -- TLX591 and TLX592. The specific details of the investigation are evolving, but the news was serious enough to drive the price of Telix’s ADSs sharply lower.

Then, another concerning development occurred on August 28, 2025. That day, Telix said it received a Complete Response Letter (“CRL”) from the FDA for the company’s Zircaix BLA. The company said the CRL identified deficiencies in chemistry, manufacturing, and controls and requested additional data to establish comparability of the drug product used in the phase 3 clinical trial and the manufacturing process intended for commercial use. Telix also revealed that the FDA documented notices of deficiency issued to its third-party manufacturing and supply chain partners that must be remediated prior to resubmitting the BLA. Telix’s ADSs traded sharply lower again on this news.

“We’re investigating claims that Telix may have misled investors about the development and commercial prospects of TLX591, TLX591 and Zircaix, and whether other of the company’s therapies may be at issue,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Telix and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Telix case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Telix should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

November 24, 2025 3:19 PM EST | Source: Canadian Securities Exchange (CSE)
Toronto, Ontario--(Newsfile Corp. - Le 24 novembre/November 2025) - PreveCeutical Medical Inc. ("PreveCeutical") has announced the effective date of the reclassification as well as the previously announced plan of arrangement with BioGene Therapeutics Inc. ("BioGene") to occur on November 25, 2025.

Pursuant to the Arrangement Agreement (the "Arrangement Agreement") 12,000,000 common shares of BioGene Therapeutics Inc. (the “BioGene Spinout Shares”) will be distributed to the shareholders of PreveCeutical (the “Shareholders”). The Arrangement will be undertaken by way of a statutory plan of arrangement whereby the Issuer will: (i) rename and re-designate its common shares (the “PreveCeutical Current Shares”) as ‘Class A Common Shares without par value’; and (ii) amend the authorized share structure of the Issuer to create a new class of shares (the “New PreveCeutical Shares”) consisting of an unlimited number of ‘common shares without par value’ with terms and special rights and restrictions identical to those of the PreveCeutical Current Shares immediately prior to the closing of the Arrangement.

Upon the effective date, each PreveCeutical Current Share held by PreveCeutical shareholders on the effective date of the Arrangement will be exchanged for one New PreveCeutical Share and 0.02 BioGene Spinout Shares rounded down to the nearest whole share.

For more information, please see the news releases issued by PreveCeutical.

_________________________________

PreveCeutical Medical Inc. (« PreveCeutical ») a annoncé que la date d’entrée en vigueur de la reclassification ainsi que du plan d’arrangement précédemment annoncé avec BioGene Therapeutics Inc. (« BioGene ») sera le 25 novembre 2025.

Conformément à la convention d’arrangement (la « Convention d’arrangement »), 12 000 000 d’actions ordinaires de BioGene Therapeutics Inc. (les « Actions issues de la scission de BioGene ») seront distribuées aux actionnaires de PreveCeutical (les « Actionnaires »). L’arrangement sera réalisé au moyen d’un plan d’arrangement légal en vertu duquel l’Émetteur : i) renommera et désignera ses actions ordinaires (les « Actions actuelles de PreveCeutical ») comme des « Actions ordinaires de catégorie A sans valeur nominale » ; et ii) modifiera la structure des actions autorisées de l’Émetteur afin de créer une nouvelle catégorie d’actions (les « Nouvelles Actions de PreveCeutical ») composée d’un nombre illimité d’« actions ordinaires sans valeur nominale » assorties de modalités, de droits spéciaux et de restrictions identiques à ceux des Actions actuelles de PreveCeutical immédiatement avant la clôture de l’arrangement.

À la date d’entrée en vigueur, chaque Action actuelle PreveCeutical détenue par les actionnaires de PreveCeutical à cette date sera échangée contre une Nouvelle Action PreveCeutical et 0,02 Action BioGene issue de la scission, arrondie à l’unité inférieure.

Pour plus d’information, veuillez consulter les communiqués de presse publiés par PreveCeutical.

OLD Security Name/ANCIEN Nom de sécurité: PreveCeutical Medical Inc. - Common Shares Symbol(s)/Symbole(s): PREV CUSIP & ISIN: 74141E104/CA74141E1043 Anticipated Payment Date/Date de Paiement Prévue : Le 25 NOV 2025 Delist Date/Date de radiation : Le 24 NOV 2025 NEW Security Name/NOUVEAU Nom de sécurité : PreveCeutical Medical Inc. - Common Shares Symbol(s)/Symbole(s) : PREV NEW/Nouveau CUSIP : 74143C 10 6 NEW/Nouveau ISIN : CA 74143C 10 6 8 Effective Trading Date/Date de négociation effective : Le 25 NOV 2025

The company's fate is becoming more tied to one large customer.

Nvidia (NVDA +1.40%) continued its streak of remarkable revenue growth in its third quarter (ended Oct. 26), as demand for its graphics processing units (GPUs) remains insatiable. However, there was one red flag in its report that investors should be aware of moving forward. Nonetheless, the stock jumped on the results, and it is now up more than 40% on the year.

Let's dig into Nvidia's results and prospects to see whether investors should buy the stock or take some profits.

Today's Change

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Strong revenue growth, but...
Nvidia once again reported remarkable revenue growth, especially for a company of its size. For its fiscal Q3, its revenue soared 63% to $57 billion, easily topping the $54.9 billion consensus as compiled by LSEG. Adjusted earnings per share (EPS), meanwhile, climbed 67% to $1.30, coming in ahead of the $1.25 analysts expected.

Data center revenue was once again Nvidia's biggest growth driver in the quarter, with revenue jumping 66% to $51.2 billion, helped by momentum with its Blackwell chips. Within its data center segment, its networking portfolio also once again shone, with revenue surging 162% $8.2 billion. The company credited the growth to its NVLink interconnect solution, as well as its InfiniBand and Spectrum-X Ethernet products. Its report highlighted that Meta Platforms, Microsoft, and Oracle are all building huge AI factories using its Spectrum-X Ethernet switches.

On its call, Nvidia management said it saw no signs of an artificial intelligence (AI) bubble and that demand continues to exceed its expectations. Management noted that its cloud GPUs were sold out and that all generations of its GPUs are being fully utilized.

In a direct counter to famed investor Michael Burry's bearish argument on the AI infrastructure space, Nvidia also said that its older A100 GPUs that were shipped six years ago were still running at 100% utilization in large part thanks to its CUDA software platform. Burry had argued that the useful life of GPUs is only two to three years. Thus, cloud computing companies were overstating their earnings because their GPUs had been depreciating over the six years.

The company also noted that despite getting a license to sell its H20 chips in China, revenue was minimal in the quarter, with only about $50 million in sales.

Nvidia's other segments also produced solid results. Gaming revenue jumped 30% to $4.3 billion, while its professional visualization segment sales soared 56% to $730 million. Meanwhile, its automotive segment saw revenue climb 32% to $592 million. The strong auto performance was driven by self-driving solutions and partnerships like the one it established with Uber.

The company continues to be a cash-flow machine, generating operating cash flow of $23.8 billion and free cash flow of $22.1 billion in the quarter. It ended the quarter with cash and marketable securities of $60.6 billion and $8.5 billion in debt after buying back $12.5 billion in stock in the quarter.

Looking ahead, Nvidia guided for Q3 revenue to come in around $65 billion, which would represent 65% growth. The forecast does not assume any data center revenue coming from China.

While the report and guidance were strong, the one red flag with Nvidia's report was that the company continues to see its accounts receivable balloon. During the quarter, this metric climbed 89% year over year to $33.4 billion, outpacing its sales growth. Accounts receivable is how much money is owed to the company for products that have been shipped. Continued big jumps in this metric can be a sign of channel stuffing or collection problems. Given that Nvidia has started to make investments in its customers, like OpenAI and Anthropic, this makes it even more notable, as the chipmaker is essentially providing the cash these companies need to help buy its chips. This type of circular financing likely isn't sustainable over the long run.

Image source: Getty Images.

Is Nvidia stock still a buy?
While I think investors need to be aware of the potential pitfalls of Nvidia's circular financing and ballooning accounts receivable issue, I wouldn't dump the stock yet. The company is still seeing incredible growth and generating a ton of cash. The insatiable demand for its chips is real, and the company has created a wide moat through its CUDA software platform and NVLink interconnect solution, which helps its chips act like one powerful unit.

Whether this red flag becomes a problem in the future will likely come down to OpenAI. The AI model company is looking to spend aggressively on building out AI infrastructure, but it is currently losing money and burning through cash. However, it's also tied itself to nearly every major player in the AI space, perhaps making it too important to fail. However, this is not something that will play out until years down the road.

In the meantime, I'd expect Nvidia to continue to produce robust growth and continue to be one of the biggest beneficiaries of AI. As such, I view the stock as a buy, with the caveat that I'd continue to monitor this risk.

Celestica Inc (NYSE:CLS) experienced a significant Power Inflow alert, a key bullish indicator that is closely tracked by traders who value order flow analytics, specifically institutional and retail order flow data.
At 10:55 AM EST on November 24, CLS triggered a Power Inflow signal at a price of $306.70. In the hour leading up to the Power Inflow signal, CLS's stock price had some slight pullback following the initial price rise that occurred earlier in the day. Following the Power Inflow signal, the price of CLS immediately and steadily spiked higher, reaching a price of $318.10 at one point prior to 2:45 PM EST. Over that same period, there was a noticeable shift towards buying activity on both the retail and institutional side of the market shortly following the signal. This Power Inflow signal is aimed to be a bullish indication of institutional and retail interest, spotlighting where traders may be entering the market for the stock.

Understanding the Power Inflow Signal
The Power Inflow alert is a proprietary signal developed and provided by TradePulse. The alert is issued within the first two hours of the trading day, highlighting when there is a significant shift in order flow, specifically indicating that there's been a strong trend towards buying activity. This suggests a high probability of bullish price movement for the rest of the day, making it a potentially strategic and opportune entry point for active traders.

Order flow analytics analyze real-time buying and selling trends by examining the volume, timing, and order size across both retail and institutional traders. These insights offer a more detailed understanding of price behavior and market sentiment for a stock, allowing the trader or institution to make the most informed decision possible.

CLS Intraday Performance
At the time of the Power Inflow, CLS was priced at $306.70. Following the signal:
• Intraday High As Of 2:45 PM EST: $318.10 (+3.72%)

Today's Power Inflow alert on CLS is a great example of how real-time order flow analytics can reveal bullish momentum, especially during a period where the stock price appears to be stagnant or weakening. A trader who bought into CLS shortly after the Power Inflow signal could have realized a significant intraday gain, emphasizing the importance of order flow analytics, and our Power Inflow signal in particular, in identifying bullish momentum and providing traders with a timely, advantageous entry opportunity.

This article is for informational purposes only and does not constitute financial advice, investment recommendations, or a solicitation to buy or sell securities. The analysis is based on stock order flow data, but accuracy is not guaranteed. Investing involves risk, including possible loss of principal, and past performance is not indicative of future results. Please consult a licensed financial advisor before making any investment decisions.

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.

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© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Old Mutual Limited (OTCPK:ODMUF) Q3 2025 Earnings Call November 24, 2025 10:00 AM EST

Company Participants

Langa Manqele - Head of Investor Relations
Johann Strydom - CEO & Director
Casper Troskie - CFO & Executive Director
Ranen Thakurdin - Chief Accountant

Conference Call Participants

Baron Nkomo - JPMorgan Chase & Co, Research Division
Harry Botha - BofA Securities, Research Division
Francois Du Toit - Anchor Stockbrokers Proprietary Limited, Research Division
Marius Strydom
Bradley Moorcroft
Jarred Houston

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the Old Mutual Q3 Voluntary Update [Operator Instructions] Please note that this event is being recorded. I will now hand you over to the Head of Investor Relations, Langa. Please go ahead.

Langa Manqele
Head of Investor Relations

Thank you very much, and good afternoon to everyone who's joining us, and good morning to those who may be dialing in from the space. My name is Langa Manqele, as introduced. I head up Investor Relations. On the call with me is Jurie, our CEO. He will be leading the call, and Jurie will be assisted during the Q&A and comment session by Casparus, our CFO; as well as Ranen Thakurdin, who is presently our Chief Accounting Officer. I will now turn over the call over to Jurie. Thank you.

Johann Strydom
CEO & Director

Thanks, Langa. Good afternoon, everybody, or good morning [indiscernible] good to be with you. I think I'm sure you have in front of you the operating update that we put out on the 18th of November. So maybe just by intro from my side, it's been -- I think we had our Capital Markets Day towards the end of October, where we put out the important metrics that we're measuring ourselves on and be reporting on going forward in our medium-term targets.

We're not reporting on

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Palantir Technologies Inc (NASDAQ:PLTR) spent most of 2025 absorbing heat for its valuation, but while the market argued about the multiple, the company quietly executed one of the most aggressive expansion streaks of any enterprise software player this year. In 10 months, Palantir stitched together 26 partnerships spanning 15 sectors, taking its business far beyond the defense-first label critics still cling to.

Track PLTR stock here.
A Partner List That Reads Like A Corporate Who's WhoThe breadth is hard to miss. PwC UK, Deloitte and Accenture Federal Services pulled Palantir deeper into consulting. Lumen Technologies Inc (NYSE:LUMN) and Lear Corp (NYSE:LEA) opened doors in telecom and automotive. SOMPO, TWG Global and Société Générale broadened its insurance and financial services reach.

Aviation came via FTAI Aviation Ltd (NASDAQ:FTAI) and Archer Aviation Inc (NYSE:ACHR); mobility through EYSA. And in healthcare, Palantir went from "interesting" to "everywhere" — with OneMedNet, the Joint Commission, R1 and NHS-linked programmes all moving to its stack.

Read Also: Palantir Locks In Poland — And Maybe Its Next All-Time High

Industrials, Infrastructure And Sovereign Ties Take The Expansion WiderBeyond the marquee names, the industrial wave may be the most underappreciated. Fedrigoni, Valoriza, SAUR, BlueForge and six Warp Speed manufacturing customers brought Palantir into reindustrialization, environmental services and utilities.

Dubai Holding's Aither added sovereign depth, while the Nuclear Company partnership and UK Armed Forces simulations via Hadean extended the company's reach into energy and defense-tech modernization.

Velocity, Not Volume, Is The Real SignalEnterprise AI rarely scales into regulated industries at this speed. Palantir didn't just diversify — it accelerated. Fifteen sectors in under a year isn't a pipeline build-out. It's a structural repositioning that markets will eventually have to price.

Why It Matters To InvestorsThe contradiction sits in plain sight: the stock still trades like a valuation debate, yet the deal sheet reads like a multi-industry takeover in motion. If 2025 was Palantir's "prove it" year, the company didn't tiptoe. It went wide, fast and with intent.

And heading into 2026, the question isn't whether Palantir is expanding — it's whether Wall Street stops staring at the multiple long enough to see the company it's already becoming.

Read Next:

Palantir’s Pentagon Deals Look Big — Until You See What’s Actually Billable
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© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

SAN FRANCISCO, Nov. 24, 2025 (GLOBE NEWSWIRE) -- On November 17, 2025, James Hardie Industries plc (NYSE: JHX) announced the departure of its CFO (Rachel Wilson) who was immediately replaced by outsider Ryan Lada.

This development follows the 34% August 20, 2025 collapse in James Hardie’s share price and the class-action lawsuit filed against it and certain of its executives, alleging Defendants committed securities fraud by misleading investors about inventory levels and customer demand in its crucial North American segment.

Hagens Berman is investigating the alleged claims and urges investors in James Hardie who suffered significant losses to contact the firm now.

Read more about the issue facing JHX investors, Alleged Inventory Deception: Investors Claim James Hardie Concealed Weak Demand.

The James Hardie Industries (JHX) Securities Class Action

James Hardie Industries plc is the dominant producer of fiber cement building materials in the U.S..

The lawsuit, Laborers’ District Council & Contractors’ Pension Fund of Ohio v. James Hardie Industries plc., et al., 25-cv-13018 (N.D. Ill.), filed on behalf of all investors who purchased or acquired James Hardie common stock—which converted from American Depositary Shares on July 1, 2025—between May 20, 2025, and August 18, 2025 (the "Class Period"), seeks damages for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.

The action centers on James Hardie’s North America Fiber Cement segment, which the company states generates about 80% of its total earnings. The plaintiffs allege that despite the company starting to observe significant inventory destocking by its North American channel partners in April and early May 2025, management publicly denied the trend and assured investors of the segment’s sustained strength.

Specifically, the complaint highlights statements made by company executives on or around May 20 and 21, 2025, which it claims falsely represented that customer demand remained robust and expressly denied that inventory destocking was occurring. The plaintiffs contend that these assurances concealed an underlying problem: sales were artificially inflated by “inventory loading by channel partners, with the hallmarks of fraudulent channel stuffing,” rather than genuine, sustainable customer demand.

This alleged deception came to a head on August 19, 2025, when James Hardie belatedly disclosed a sharp decline in performance. The company reported that sales in the North America Fiber Cement division had dropped by 12%, attributing the decline to the very customer destocking it had previously denied, which management now admitted had been discovered "in April through May."

Company CEO and Executive Director Aaron Erter sought to frame the downturn as a “normalization of channel inventories,” but cautioned that the impact was expected to affect sales for at least the next two quarters.

The market’s reaction was severe and swift. Following the disclosure, James Hardie’s common stock dropped by over 34%.

The plaintiffs argue that this precipitous decline—and the significant losses suffered by investors—was a direct result of the defendants’ alleged wrongful acts and omissions during the Class Period. The lawsuit aims to recover damages on behalf of the Class Members who were financially injured by the sudden reversal of the company’s reported financial health.

Hagens Berman’s Investigation on Behalf of Investors

Hagens Berman is actively investigating the alleged claims.

“We want to know if James Hardie’s sales were fueled by unsustainable sales practices and whether senior management was aware of the problem,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in James Hardie and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the James Hardie case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding James Hardie should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

SAN FRANCISCO, Nov. 24, 2025 (GLOBE NEWSWIRE) -- MoonLake Immunotherapeutics (NASDAQ: MLTX), a clinical-stage biotechnology company, has been hit with a securities fraud class action lawsuit after its share price plummeted nearly 90% in a single day. The sharp decline was triggered by the release of disappointing Phase 3 trial results for its lead and only drug candidate, sonelokimab (SLK).

Global plaintiffs’ rights firm Hagens Berman is actively investigating the alleged claims. The firm urges investors in MoonLake who suffered significant losses to submit your losses now.

MoonLake Immunotherapeutics (MLTX) Securities Class Action: 

The complaint, filed in the U.S. District Court for the Southern District of New York, alleges that MoonLake and certain executives made materially false and misleading statements to investors about SLK's clinical prospects, specifically exaggerating its benefits over competitors.

The controversy centers on MoonLake’s investigational therapeutic, SLK, which is designed to treat moderate to severe hidradenitis suppurativa (HS), a chronic inflammatory skin disease.

For months leading up to the data release, the company allegedly touted the drug’s distinctive “Nanobody” structure as a major competitive advantage, suggesting it would translate into superior efficacy compared to conventional monoclonal antibody treatments, like a competing FDA-approved drug, BIMZELX. The claims focused on the Nanobody’s smaller size and supposed ability to offer “higher clinical responses for patients.”

However, the reality check allegedly came on Sep. 28, 2025. MoonLake reported its Week 16 results from the highly anticipated VELA Phase 3 trials. VELA-2, one of the two trials, failed to meet its primary endpoint. More critically, analysts and investors quickly noted that the efficacy results, even from the trial that did succeed statistically, were substantially lower than those previously achieved by the competitor drug, BIMZELX.

On the news, the price of MoonLake stock cratered, falling by $55.75 per share, or nearly 90%, from $61.99 to $6.24 in the following trading day. Analysts described the outcome as a "disastrous result" and a "near worst-case scenario."

The securities suit alleges that MoonLake failed to disclose crucial information, namely that:

SLK and its competitor, BIMZELX, share the same molecular targets (the inflammatory cytokines IL-17A and IL-17F).SLK’s distinct Nanobody structure would not, in fact, confer a superior clinical benefit over the competitor’s traditional monoclonal antibody.Plaintiffs argue that the company’s continuous touting of SLK’s molecular advantages as a pathway to “gold standard” efficacy was misleading, artificially inflating the stock price during the class period (from March 10, 2024, to September 29, 2025).
Hagens Berman’s Investigation

National shareholders rights firm Hagens Berman has launched its own investigation into the claims that MoonLake misled investors about the trial design and efficacy data. Reed Kathrein, the Hagens Berman partner leading the investigation, stated, “We're focused on investors' losses and whether MoonLake may have intentionally misled investors about the SLK's purported advantages over BIMZELX while claiming that SLK could become a ‘gold standard.’”

If you invested in MoonLake and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the MoonLake case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding MoonLake should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

As Nvidia (NVDA) grows, so does A.I. infrastructure and the power grid, says Greg Dukes.

Circle Internet Group NYSE: CRCL, the fintech best known as the issuer of the stablecoin USDC, has been on a tumultuous share price path since going public in June.

SAN FRANCISCO, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Medical device manufacturer Inspire Medical Systems, Inc. (NYSE: INSP) is the subject of a securities class action lawsuit following a sharp decline in its stock price, with shareholders alleging the company misled investors about the launch of its latest product, the Inspire V device for obstructive sleep apnea.

Hagens Berman is investigating the allegations. The firm urges investors in Inspire who suffered significant losses to submit your losses now.

Class Period: Aug. 6, 2024 – Aug. 4, 2025
Lead Plaintiff Deadline: Jan. 5, 2026
Visit: www.hbsslaw.com/investor-fraud/insp
Contact the Firm Now: [email protected]
                                       844-916-0895

Inspire Medical Systems, Inc. (INSP) Securities Class Action:

The complaint, captioned City of Pontiac Reestablished General Employees’ Retirement System v. Inspire Medical Systems, Inc., No. 25-cv-04247 (D. Minn.), targets Inspire Medical and several of its top executives. It seeks to represent investors who purchased or acquired the company’s common stock between August 6, 2024, and August 4, 2025 (the “Class Period”), charging violations of the Securities Exchange Act of 1934.

The Heart of the Complaint: Inspire V’s Alleged Failures

Inspire Medical, known for its implantable neurostimulation technology designed to improve respiration during sleep, allegedly assured the market that the transition to its newer Inspire V device would be seamless and successful.

However, the lawsuit paints a significantly different picture, alleging that the defendants made false and/or misleading statements and failed to disclose critical operational failings that ultimately sabotaged the launch:

Poor Demand and Inventory Surplus: A core allegation is that the Inspire V launch was a disaster due to poor market demand. The complaint asserts that providers already held significant surplus inventory of the previous device and were reluctant to transition to the new version.Incomplete Readiness: Contrary to management’s assurances, the lawsuit contends that Inspire Medical failed to complete essential, basic tasks required for a successful rollout.Billing and Operational Hiccups: The complaint details several specific, undisclosed logistical roadblocks. Specifically, many implanting centers failed to complete the necessary training, contracting, and onboarding criteria prior to purchasing and implanting Inspire V. Crucially, despite the CPT code for Medicare patients being approved, the necessary software updates for claims submissions and processing did not take effect until July 1 of 2025. This delay, which was not previously disclosed, meant centers could not bill for procedures until that date, severely restricting early adoption.
The Market Reaction

The alleged scheme purportedly unraveled on August 4, 2025, when Inspire Medical publicly admitted that the Inspire V launch was facing an “elongated timeframe” due to a number of previously undisclosed headwinds.

In the wake of these revelations, the company was forced to dramatically reduce its 2025 earnings guidance by more than 80%. The news sent shockwaves through the market, causing the price of Inspire Medical’s common stock to decline by over 32% on heavy trading volume, triggering the investor class action.

The lawsuit contends that management’s assurances—that all steps had been taken for a successful launch and that the rollout was proceeding smoothly—were fundamentally disconnected from the operational reality, leaving investors exposed to a massive financial loss.

Hagens Berman’s Investigation

Prominent investor rights law firm Hagens Berman is investigating the alleged claims against the company. The firm is focusing on potential misstatements or omissions related to the launch of the Inspire V device and its impact on the company's financial standing.

“Our investigation is focused on whether Inspire’s management knew of the alleged critical operational flaws—like the billing code delays and training shortfalls—before the August 4th disclosure,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Inspire and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Inspire case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Inspire should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

Tyson Foods announced on Friday that it will close a major beef plant in Nebraska in January amid a decline in U.S. cattle supplies.

The meatpacking giant is set to close a plant in Lexington, Nebraska, with about 3,200 employees. The company also said it will scale back its operations at a beef plant in Amarillo, Texas, moving to a single, full-capacity shift in a move that will affect about 1,700 workers.

Those changes are expected to take effect around Jan. 20, and the company said it will increase production at its other facilities to meet customer demand.

"Tyson Foods recognizes the impact these decisions will have on team members and the communities where we operate. The company is committed to supporting our team members through this transition, including helping them apply for open positions at other facilities and providing relocation benefits," Tyson Foods said in a statement.

BEEF PRICES HIT RECORD HIGHS AS NATIONWIDE CATTLE INVENTORY DROPS TO LOWEST LEVEL IN 70 YEARS

Tyson Foods is closing its beef plant in Lexington, Nebraska, amid a drop in cattle inventories. (Dan Brouillette/Bloomberg via Getty Images / Getty Images)

The company added that the changes will ensure that Tyson Foods can "continue to deliver high-quality, affordable, and nutritious protein for generations to come."

The Lexington facility can process about 5,000 cattle per day, or about 5% of total U.S. slaughtering, but has already been operating below capacity, Matt Wiegand, commodity broker for FuturesOne in Nebraska, said in a Reuters report.

Beef prices have surged this year as cattle inventory declined to the lowest level in 70 years, which has pushed prices for consumers higher.

BEEF PRICES ARE CLOSE TO RECORD HIGHS – BUT AMERICANS AREN'T CUTTING BACK

Ticker Security Last Change Change % TSN TYSON FOODS INC. 56.83 +3.14
+5.85%
Cattle ranchers have reduced their herds due to drought affecting key ranching regions in recent years, though some have started to slowly rebuild them. It takes at least two years to raise full-grown cattle.

The Bureau of Labor Statistics reported in its September consumer price index (CPI) that beef and veal prices were up 14.7% year over year. Prices for ground beef were up 12.9% last year, while the cost of beef roasts was up 18.4% and prices for beef steaks rose 16.6% in that period.

Those figures far outpaced overall inflation, which was up 3% over the last year, as well as food prices, which rose 3.1% from a year ago as of September.

TRUMP ORDERS DOJ TO INVESTIGATE MEATPACKING COMPANIES FOR 'ILLICIT COLLUSION' AMID RISING BEEF PRICES

Cattle inventories have declined to the lowest level in 70 years as drought affects key ranching regions. (Melissa Phillip/Houston Chronicle/Getty Images / Getty Images)

Tyson's beef business suffered adjusted losses of $426 million in the 12 months that ended on September 27 and $291 million over the past year. The meatpacker projected the unit will lose $400 to $600 million in the 2026 fiscal year.

Those losses come despite strong demand from consumers, who are looking past the price increases to buy beef. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Americans spent over $40 billion on fresh beef in 2024, which made up over half of all fresh-meat sales, according to data from Beef Research, a contractor to the National Cattlemen's Beef Association.

Reuters contributed to this report.

Key Takeaways
Google parent Alphabet shares are rising Monday as the tech giant extends a recent rally to new record highs.Solid third-quarter results in its last earnings report, Berkshire Hathaway recently revealing a bet on the company, and last week's launch of its Gemini 3 model helping to boost Alphabet stock.

Alphabet (GOOGL) stock has been on a tear. That run continued Monday.

Drivers in recent session have included a strong earnings report, a new bet on the tech giant from Warren Buffett, and the release of the Google parent's newest artificial intelligence model. The shares' runup kept rolling today, leading markets higher, with the stock recently up 6%, setting a record high above $318 earlier in the session, to kick off a holiday-shortened trading week.

Why This Matters to You
Alphabet owns Google, YouTube, and several other companies that millions of Americans use every day. It is also one of the most valuable companies in the world, with a market capitalization of about $3.8 trillion on Monday, and its stock has been roaring lately.

Optimism about the company's positioning in AI looked to be lifting the stock today, with Google's newest model, Gemini 3, winning support in Silicon Valley. Salesforce (CRM) CEO Marc Benioff said in a Sunday social media post that "It feels like the world just changed, again" about his first hours using Gemini 3 after using OpenAI's ChatGPT for years.

Alphabet stock has outpaced the rest of the Magnificent Seven in recent weeks as concerns over an AI bubble have mounted, slowing the AI rally that has powered the market to record highs. Some analysts, meanwhile, have said that Gemini 3 looks to be capable of a wide range of tasks and currently give Google an advantage in the AI landscape.

The company eclipsed $100 billion in revenue in a single quarter for the first time when it reported third-quarter results late last month. Weeks later, the most recent 13-F filing from Buffett's Berkshire Hathaway (BRK.A, BRK.B) revealed that the investment firm took a new position in Alphabet in the most recent quarter, worth more than $4.3 billion at the end of September.

Do you have a news tip for Investopedia reporters? Please email us at

[email protected]

Nov 24 (Reuters) - U.S. broadcaster Sinclair

(SBGI.O), opens new tab has offered to buy E.W. Scripps

(SSP.O), opens new tab in a cash-and-stock deal that values its smaller rival at $538 million, as cord-cutting and competition from streaming services lead to consolidation in the media industry.

The bid, disclosed in a regulatory filing on Monday, follows months of talks between the companies, as well as a regulatory disclosure last week that Sinclair has an 8.2% stake in Scripps.

Sign up here.

The $7-per-share offer for the remaining shares - consisting of $2.72 cash and $4.28 in stock - represents a 70% premium to Scripps' last close, Reuters calculations show.

Shares of Scripps rose 6.5%, while those of Sinclair fell nearly 2%.

Sinclair has been looking to scale up as the U.S. media industry struggles with declining traditional TV audiences, a weak advertising environment and intensifying competition from streaming giants like Netflix

(NFLX.O), opens new tab.

Doubts emerged on Monday over rival broadcaster Nexstar's

(NXST.O), opens new tab $3.54 billion offer for Tegna , as U.S. President Donald Trump criticized a proposal to lift the current cap on local television station ownership, which is necessary for the acquisition.

Sinclair said its deal for Scripps could close under current ownership rules with limited divestitures of TV stations.

Scripps said its board will review the proposal. Descendants of founder Edward Scripps control about 93% of the company's common voting shares, according to the company's annual report.

The combined company would feature an independent board with seats allocated based on ownership, include representation from the Sinclair and Scripps families, and adopt joint editorial standards overseen by an independent ombudsman, Sinclair said.

Upon the deal closing, Scripps’ shareholders would own about 12.7% of the combined entity, Sinclair said.

The new, publicly traded company will retain Sinclair's dual-class structure.

Reporting by Anhata Rooprai in Bengaluru; Editing by Sahal Muhammed

Our Standards: The Thomson Reuters Trust Principles., opens new tab

The "new" GE Aerospace is not the old General Electric, and that's good news for investors.

The stock now known as GE Aerospace (GE +1.42%) contains the core of what used to be the conglomerate General Electric. Over the past few years, one of the world's largest industrial conglomerates has slimmed down through asset sales and divestitures.

The final split-up occurred in 2023 and 2024, when GE completed the stock spinoffs of GE HealthCare Technologies (GEHC +1.78%)and GE Vernova (GEV +4.09%), the company's energy equipment division. Following these spinoffs, GE Aerospace became a pure-play aerospace company, focused on GE's jet engine and aerospace products manufacturing businesses.

To longtime fans and employees of GE, this moment may have marked the sad, quiet end to a century-old industrial empire. But for shareholders, this transformation has proven very profitable.

Image source: Getty Images.

GE Aerospace has crushed the market, rocketing to a high valuation
In 2023, before the final split-up, General Electric was trading for around $80 per share. Now, the stock changes hands for over $300 per share. Year-to-date alone, the stock is up a staggering 80%, handily outperforming the overall stock market.

With this outperformance, GE Aerospace is seeing massive valuation expansion. Wall Street has never been a big fan of the conglomerate business model. With the exception of perhaps Warren Buffett's Berkshire Hathaway, most conglomerate stocks have experienced the "conglomerate discount" effect, or a discounted valuation relative to stocks focused on one particular industry.

General Electric may have once traded at a "conglomerate discount," but as an aerospace pure-play, it's arguably become pricey. With a forward price-to-earnings ratio, or forward P/E, of around 42, GE Aerospace trades at a premium to other large aerospace companies, like RTX. RTX trades at a forward P/E of around 26.

Then again, shares in another aerospace giant, Boeing, trading for nearly 100 times forward earnings, are even pricier. Much of this has to do with the aerospace industry's current strong growth prospects.

Today's Change

(

1.42

%) $

4.07

Current Price

$

291.51

Should you buy General Electric stock?
The aerospace industry benefits greatly from robust commercial and defense-related demand. GE Aerospace is no exception, as seen in the company's latest "beat and raise" quarterly results.

As one sell-side analyst, Vertical Research Partners' Rob Stallard, recently argued, GE Aerospace could continue to trade at a big premium to names like RTX, "as long as it continues to generate strong earnings and cash flow growth." That said, you may not want to rush out and buy GE Aerospace today, just on the view that this growth story will continue.

Even during their bull run, shares have encountered some macro-related hiccups -- for instance, during last spring's "tariff tumult." Renewed fears of a recession could also negatively affect this stock's near-term performance. However, if you are a long-term-focused investor, there may be merit in steadily building a position in GE Aerospace on any pullback.

Given the strength of its aerospace business, coupled with the talented leadership of CEO Larry Culp (who prior to running GE Aerospace was CEO of Danaher, another conglomerate success story), you can consider it one of the strongest blue-chip stocks out there.

Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway, Danaher, and GE HealthCare Technologies. The Motley Fool recommends GE Aerospace, Ge Vernova, and RTX. The Motley Fool has a disclosure policy.

An Airbnb logo (download app page) displayed on a smartphone is seen in L'Aquila, Italy, on september 9th, 2023. Some metropolises and countries are imposing restrictions on Airbnb hosts to protect the hotel industry. (Photo by Lorenzo Di Cola/NurPhoto via Getty Images)

NurPhoto via Getty Images

Airbnb (ABNB) may be a solid choice for your investment portfolio, given its high cash yield, strong fundamentals, and attractive valuation. Companies like this have the ability to utilize cash to drive further revenue growth or to reward their shareholders via dividends or share buybacks. Both strategies make them appealing to the market. Additionally check, Is Walmart Stock Outperforming Its Rivals?

Current Developments with ABNB

Although ABNB is down -13% this year, it is currently trading at a P/S (Price-to-Sales) ratio that offers a significant discount compared to its 3-month and 2-year peaks, and is also below its 3-year average.

The stock may not yet show it, but there are positive developments for the company. Airbnb posted impressive Q3 2025 results, with Nights and Seats booked increasing by 9% year-over-year, marking an acceleration from Q2. Active listings have surpassed 8 million worldwide, and average daily rates have stabilized at $173 in 2025. The company is broadening its offerings with Airbnb Experiences and a hotel pilot program while incorporating AI to enhance user experience. The revenue forecast for Q4 projects showed an increase of 8.5% year-over-year, surpassing analyst expectations.

ABNB’s Strong Fundamentals

Robust Cash Yield: Few stocks provide a free cash flow yield of 6.6%, but Airbnb stock does.Impressive Margin: The operating margin for the last 12 months stands at 22.6%.Growth: The last 12 months of revenue growth is 10.2% – while this is modest growth, this choice prioritizes high yield and margin.Valuation: ABNB stock is currently trading at 32% less than its 2-year high, 11% below its 1-month high, and at a P/S lower than its 3-year average.Below is a brief comparison of ABNB's fundamentals with S&P medians.

metrics

Trefis

MORE FOR YOU

*LTM: Last Twelve Months

What Are the Risks Involved?

While investing in ABNB stock may appear to be a favorable opportunity, it’s crucial to understand the stock's history of downturns. Airbnb's stock fell approximately 14% during the Covid pandemic and suffered a much steeper decline, plunging nearly 62%, during the inflation shock of 2022. Despite a strong brand and robust business model, the stock has not been shielded from severe sell-offs. This serves as a reminder that market disruptions can still lead to significant corrections, regardless of a positive outlook. However, the risks are not confined solely to major market crashes. Stocks tend to decline even in strong markets due to factors such as earnings reports, business announcements, or changes in outlook. Refer to ABNB Dip Buyer Analyses to understand how the stock has bounced back from sharp declines previously.

To explore more details and our perspective, see Buy or Sell ABNB Stock.

Stocks Similar to ABNB

Not ready to make a move on ABNB? Consider these options:

1. Salesforce (CRM)

2. PayPal (PYPL)

3. Global Payments (GPN)

We selected these stocks based on the following criteria:

1. Market capitalization exceeding $2 billion

2. Price dipped last month & significantly below its 2-year peak

3. Current P/S less than the average over the past few years

4. Strong operating margin without significant incidences of margin decline

5. High free cash flow yield

A portfolio consisting of stocks that meet these criteria would have performed as follows since 12/31/2016:

Average forward returns of 10.4% and 20.4% for 6-month and 12-month periods, respectivelyA success rate (percentage of selections yielding positive returns) of about 74% over a 12-month durationConsistent strategy performance across various market cyclesPortfolios Outperform Stock Picking

Individual stock selections can be unpredictable, but being invested is what truly counts. A well-diversified portfolio allows you to stay the course, seize growth opportunities, and mitigate risks.

The Trefis High Quality (HQ) Portfolio, comprising 30 different stocks, has a history of comfortably outpacing its benchmark, which includes the S&P 500, S&P mid-cap, and Russell 2000 indices. What accounts for this? In general, HQ Portfolio stocks have delivered stronger returns with lower risk compared to the benchmark index; this is reflected in HQ Portfolio performance metrics.

ANCHORAGE, Alaska--(BUSINESS WIRE)--Alaska Communications is pleased to announce the appointment of John Sims, President of ENSTAR Natural Gas Company, to its Board of Directors. Born and raised in Eagle River, Sims brings deep Alaska roots and a lifelong commitment to serving the unique needs of Alaskans. His extensive leadership experience, including nearly two decades at ENSTAR, reflects a proven ability to guide organizations through growth and challenges while keeping community at the fore.

Kitco News

The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

BioCryst Pharmaceuticals, Inc. (BCRX) Jefferies London Healthcare Conference 2025 November 19, 2025 12:00 PM EST

Company Participants

Jon Stonehouse - CEO & Executive Director
Charles Gayer - President & Chief Commercial Officer
Babar Ghias - CFO & Head of Corporate Development

Conference Call Participants

Maurice Raycroft - Jefferies LLC, Research Division

Presentation

Maurice Raycroft
Jefferies LLC, Research Division

Hi, everyone. My name is Maury Raycroft, and I'm one of the biotech analysts at Jefferies. It's with great pleasure that I'd like to welcome the BioCryst's management team. We've got Jon Stonehouse, CEO; Charles Gayer, Chief Commercial Officer; and Babar Ghias, the CFO. Thanks so much for joining us today.

Jon Stonehouse
CEO & Executive Director

Yes. Thanks for having us.

Maurice Raycroft
Jefferies LLC, Research Division

And we're going to do a fireside chat format. So for those who are new to the story, if you can give a brief intro to BioCryst.

Jon Stonehouse
CEO & Executive Director

Sure. So Maury, first off, thanks for inviting us to this year's conference. We're all going to be making forward-looking statements. Those statements have risks. Risk factors can be found in our most recent filings.

BioCryst is a pretty interesting company. I've been in it for almost 19 years. And today, BioCryst is a company with revenue from ORLADEYO, somewhere between $590 million and $600 million and growing to a peak of $1 billion. So really good trajectory of growth and patent protection out to 2040. So that's the growth engine.

Next is we've got a pipeline of internal stuff, the one that's in the clinic -- 2 in the clinic, [ 17725 ] for Netherton and then avoralstat for DME.

And then third, we're in a financial situation where we were able to do a proposed acquisition with Astria, and that's in the

Recommended For You

The Invesco DB Agriculture Fund ETF offers diversified exposure to agricultural commodities, trading near $25.74 and remaining in a bullish long-term trend. DBA's largest allocation is to grains and oilseeds, which are near multi-year lows, while animal proteins and softs have seen record highs but now trend lower. Commodity cyclicality and rising production costs suggest limited downside and significant upside price potential for DBA as markets head into 2026.

Amazon (NASDAQ: AMZN) received two fresh endorsements from Wall Street after BMO Capital and BNP Paribas Exane updated their outlooks.

The ETF ecosystem has grown rapidly since the arrival of the ETF rule supercharged the wrapper. Active and passive, equity and non-equity, ETF strategies have proliferated to meet all kinds of investor needs.

Class A shares of the Alger International Opportunities Fund underperformed the MSCI ACWI ex USA Index during the third quarter of 2025. Returns from individual stock selection detracted from relative performance, while factor exposures had a positive impact. Among countries, the Netherlands, Belgium, and Spain provided the largest contributions to relative performance, while Japan, the United Kingdom, and China were the most notable detractors from relative performance.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of NNE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

, /PRNewswire/ -- 

A closed-end fund that invests in global equities using a disciplined value approach
Average weekly trading volume of approximately 65,001 shares
Fund's adviser has more than 50 years of small- and micro-cap investment experience

CLOSING PRICES AS OF 10/31/25

NAV

14.78

MKT

12.80

AVERAGE ANNUAL TOTAL RETURN AS OF 10/31/25

NAV (%)

MKT (%)

One-Month*

-1.66

-1.16

Year to Date*

17.77

19.38

One-Year

16.55

16.21

Three-Year

16.63

16.12

Five-Year

9.22

7.80

10-Year

9.38

9.85

*Not Annualized

Important Performance and Expense Information

All performance information reflects past performance, is presented on a total return basis, and reflects the reinvestment of distributions. Past performance is no guarantee of future results. Current performance may be higher or lower than performance quoted. Returns as of the most recent month-end may be obtained at www.royceinvest.com. The market price of the Fund's shares will fluctuate, so that shares may be worth more or less than their original cost when sold.

The Fund invests primarily in securities of small-cap and mid-cap companies, which may involve considerably more risk than investing in larger-cap companies. The Fund's broadly diversified portfolio does not ensure a profit or guarantee against loss. From time to time, the Fund may invest a significant portion of its net assets in foreign securities, which may involve political, economic, currency and other risks not encountered in U.S. investments.

PORTFOLIO DIAGNOSTICS

Average Market Cap1

$3168.0M

Weighted Average P/E2

24.9x

Weighted Average P/B2

3.1x

Net Assets

$96.3M

1Geometric Average: This weighted calculation uses each portfolio holding's market cap in a way designed to not skew the effect of very large or small holdings; instead, it aims to better identify the portfolio's center, which Royce believes offers a more accurate measure of average market cap than a simple mean or median.

2Harmonic Average: This weighted calculation evaluates a portfolio as if it were a single stock and measures it overall. It compares the total market value of the portfolio to the portfolio's share in the earnings of its underlying stocks.

The Price-Earnings, or P/E, ratio is calculated by dividing a company's share price by its trailing 12-month earnings-per-share (EPS). The Fund's P/E ratio calculation excludes companies with zero or negative earnings (7% of portfolio holdings as of 10/31/25). The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share.

The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share.

Portfolio Composition

TOP 10 POSITIONS

% OF NET ASSETS (SUBJECT TO CHANGE)

Tel Aviv Stock Exchange

4.6

Sprott

3.9

Protector Forsikring

3.0

Alamos Gold Cl. A

3.0

Stadio Holdings

2.5

APi Group

2.4

Phoenix Financial

1.9

Littelfuse

1.9

TMX Group

1.8

Quaker Houghton

1.8

TOP FIVE SECTORS

% OF NET ASSETS (SUBJECT TO CHANGE)

Financials

30.3

Industrials

26.9

Information Technology

11.7

Materials

10.5

Cash and Cash Equivalents

6.0

Recent Developments
The investment goal of Royce Global Trust is long-term growth of capital. Under normal market circumstances, the Fund will invest at least 80% of its net assets in equity securities, such as common stock and preferred stock, and at least 65% of its net assets in the equity securities of companies located in at least three countries outside of the United States. Royce & Associates, LP manages the Fund.

Daily net asset values (NAVs) for Royce Global Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XRGTX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.royceinvest.com.

An investor in Royce Global Trust should consider the Fund's investment goals, risks, fees, charges, and expenses carefully before purchasing share's of the Fund's common stock.

Important Disclosure Information
Closed-End Funds are registered investment companies whose shares of common stock may trade at a discount to their net asset value. Shares of each Fund's common stock are also subject to the market risks of investing in the underlying portfolio securities held by the Fund. Royce Fund Services, LLC. ("RFS") is a member of FINRA and has filed this material with FINRA on behalf of each Fund. RFS does not serve as a distributor or as an underwriter to the closed-end funds.

SOURCE Royce Global Value Trust