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SummaryCohen & Steers Select Preferred and Income Fund is mispriced due to market focus on income metrics, overlooking its capital appreciation strategy.PSF targets institutional preferreds and hybrid capital securities from large, regulated entities, profiting from rapid repricing after financial stress.The fund trades at an 8% discount to NAV, driven by investor misunderstanding of its return drivers and irregular income profile.I view PSF as a buy for investors seeking to capitalize on balance-sheet normalization in systemically important financial institutions. Pavel Kot/iStock via Getty Images

Cohen & Steers Select Preferred and Income Fund (PSF) is not just another preferred-income fund. It should not be assessed only by its quarterly distribution coverage, yield, or the small ROC component in its payout. On some

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

Key Takeaways RKLB shares jumped 66.9% in a month, far outpacing industry, sector and broader market gains.RKLB secured an $816M U.S. Space Development Agency contract and completed multiple high-profile launches.RKLB faces risks from high operating costs and premium valuation despite strong revenue growth expectations. Rocket Lab USA, Inc. (RKLB - Free Report) stock has surged 66.9% in the past month, surpassing the 11% growth of the Zacks Aerospace-Defense Equipment industry. It has also outperformed the Zacks Aerospace sector’s growth of 6.9% and the S&P 500’s rise of 0.8%.

Image Source: Zacks Investment Research

Other defense equipment stocks, such as Kratos Defense & Security Solutions (KTOS - Free Report) and AeroVironment (AVAV - Free Report) , have also outpaced the industry in the past month. Shares of KTOS have gained 19.4%, while shares of AVAV have rallied 12.2%.

With RKLB’s recent market gains, some investors may feel inclined to buy the stock quickly. However, it is important to examine the factors behind this strong performance before taking any action. The key consideration is whether the company can maintain this momentum or if certain risks could limit future growth. A closer review helps investors make a more informed and balanced decision.

Tailwinds for RKLBRKLB’s recent performance appears to be supported by notable milestones and contract wins, which have helped sustain investor confidence.

In December 2025, Rocket Lab successfully launched its 21st Electron rocket of the year from Mahia, New Zealand. The mission deployed an Earth-imaging satellite for a Japan-based company, the Institute for Q-shu Pioneers of Space (iQPS), under a multi-launch agreement. This launch reflects Rocket Lab’s consistent execution and supports its growing presence in the global commercial launch market.

In the same month, Rocket Lab was awarded a contract by the U.S. Space Development Agency to design and manufacture 18 satellites for the Tracking Layer Tranche 3 program. The $816 million contract includes satellites equipped with advanced missile warning and tracking sensors to support global detection of emerging missile threats. This award reinforces Rocket Lab’s growing role in national security space and supports its long-term growth outlook through satellite production and related subsystem opportunities.

Moreover, Rocket Lab successfully launched the STP-S30 mission for the U.S. Space Force’s Space Systems Command. The mission was completed five months ahead of schedule and supported the testing of key space technologies. This launch reflects Rocket Lab’s reliable execution and growing role in U.S. defense and space programs.

Risks to Consider Before Choosing RKLBRocket Lab shows strong growth potential in the near term, but investors should also keep in mind some important risks. One key concern is the company’s high operating costs. In the first nine months of 2025, operating expenses have increased 45.6% compared with the first nine months of 2024.

Rocket Lab continues to spend heavily on the development of advanced technologies, such as the Neutron rocket, satellite platforms and other space systems. These expenses often exceed revenue growth and have resulted in ongoing losses in recent quarters and might also continue to do so in the near term.

RKLB: A Glance at Near-Term EstimatesThe Zacks Consensus Estimate for RKLB’s 2026 revenues indicates a solid improvement of 42.2% from the prior-year level. The estimate for its earnings also calls for a solid increase from the prior-year quarter.

Image Source: Zacks Investment Research

The upward revision in its 2026 earnings estimate over the past 60 days reflects increasing analysts' confidence in its earnings growth prospects.

Image Source: Zacks Investment Research

RKLB Shares Are Trading at a PremiumRKLB shares are trading at a premium, with its forward 12-month Price/Sales (P/S F12M) being 53.41X compared with its industry’s average of 12.32X.

Image Source: Zacks Investment Research

Its industry peers, Kratos and AeroVironment, are trading at a discount in comparison with RKLB. KTOS is trading at a P/S F12M of 9.69X, while AVAV is trading at a P/S F12M of 7.09X.

Liquidity Position of RKLBRKLB has a current ratio of 3.18. The ratio, being more than one, indicates that RKLB possesses sufficient capital to pay off its short-term debt obligations.

Image Source: Zacks Investment Research

Its industry peers, Kratos and AeroVironment, also maintain current ratios above one. Kratos has a current ratio of 4.30, while AeroVironment holds 5.08.

ConclusionInvestors interested in RKLB should wait for a better entry point, considering its premium valuation and persistent high operating costs. However, those who already own this Zacks Rank #3 (Hold) stock may choose to maintain their positions, taking into account its solid long-term prospects, strong liquidity, performance at the bourses and strong sales growth expectations. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

MIAMI, FL, Jan. 07, 2026 (GLOBE NEWSWIRE) -- RenX Enterprises, Inc. (the “Company”) (NASDAQ: RENX), formerly known as Safe and Green Development Corporation, today announced that it has completed the purchase of a Komptech Crambo shredder and a Diamond Z horizontal grinder that had previously been deployed under a rental arrangement. The Company elected to acquire the equipment following a review of operating results demonstrating increased throughput, improved processing efficiency, and incremental revenue contribution during the rental period. A photograph of the Company’s Diamond Z horizontal grinder currently operating within RenX’s materials processing operations is included below.

Diamond Z horizontal grinder operating at RenX’s materials processing facility

The equipment has been actively utilized within the Company’s materials processing operations and has supported higher volumes across RenX’s materials handling and resource recovery activities. Based on performance data observed during live operations, management determined that ownership of the assets was economically favorable and aligned with the Company’s long-term operating strategy.

The equipment was purchased for approximately $2.54 million with a 30% down payment of approximately $700,000 that had previously been deployed under a rental arrangement and the balance financed through two secured promissory notes with Commercial Credit Group. The Company believes the financing structure appropriately reflects the revenue-generating profile of the equipment and is consistent with its disciplined approach to capital allocation. Additional information regarding the financing transaction is included in the Company’s Current Report on Form 8-K filed in connection with the closing.

“This transaction reflects our focus on deploying capital behind assets that demonstrate tangible operating results,” said David Villarreal, Chief Executive Officer of RenX. “After evaluating the performance of both units in active operations, we concluded that ownership would enhance our operating efficiency and support continued revenue growth.”

The acquisition expands RenX’s owned equipment base and supports the Company’s ongoing efforts to scale processing capacity through targeted investments in proven, high-utilization assets. Management believes the transaction strengthens RenX’s operational platform and positions the Company to continue executing on its growth initiatives.

About RenX Enterprises Corp.

Ren X Enterprises Corp. is a real estate development and environmental solutions company. Formed in 2021 as Safe and Green Development Corporation, the Company originally focused on the direct acquisition and indirect investment in properties across the United States intended for development into green single-family or multifamily housing projects. The Company is currently focused on the monetization of its legacy real estate asset portfolio.

The Company’s primary operations consist of an environmental processing and logistics platform that includes a permitted 80+ acre organics processing facility in Florida. The Company processes source-separated green waste and is expanding into the production of sustainable, high-margin potting media and soil substrates through advanced milling technology. The Company’s operations also include a logistics platform that provides transportation services across biomass, solid waste, and recyclable materials, supporting both internal operations and third-party infrastructure needs.

Forward-Looking Statements

This press release may contain 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. All statements other than statements of historical fact are or may be deemed to be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These forward-looking statements include, without limitation, statements regarding operating results demonstrating increased throughput, improved processing efficiency, and incremental revenue contribution during the rental period; ownership of the assets being economically favorable and aligned with the Company’s long-term operating strategy; the financing structure through Commercial Credit Group appropriately reflecting the revenue-generating profile of the equipment and being consistent with the Company’s disciplined approach to capital allocation; deploying capital behind assets that demonstrate tangible operating results; ownership of the assets enhancing operating efficiency and supporting continued revenue growth;  ongoing efforts to scale processing capacity through targeted investments in proven, high-utilization assets; the transaction strengthening RenX’s operational platform and positioning the Company to continue executing on its growth initiatives; and being focused on monetizing the Company’s legacy real estate asset portfolio.

These forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience, perception of historical trends, current conditions, and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to enhance operating efficiency and support continued revenue growth; the Company’s ability to scale processing capacity through targeted investments in proven, high-utilization assets; the Company’s ability to continue executing on its growth initiatives; the Company’s ability to advance monetization initiatives across its legacy real estate portfolio; the Company’s ability to maintain adequate liquidity and working capital; reliance on third-party technologies and partners; availability and cost of feedstock and other inputs; market acceptance of engineered growing media products; general economic and market conditions; and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

Media Inquiries:
For media inquiries, please contact [email protected]

Diamond Z horizontal grinder operating at RenX’s materials processing facility

Diamond Z horizontal grinder operating at RenX’s materials processing facility Diamond Z horizontal grinder operating at RenX’s materials processing facility

CANADA - 2025/09/03: In this photo illustration, the Intuitive Surgical logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

ISRG stock has climbed nearly 40% from its October 2025 lows of approximately $425, currently trading near $590. What has spurred this remarkable rise?

The reason is evident: outstanding Q3 2025 earnings that exceeded expectations. The company presented a significant one-two punch—procedure volume growth of 20% year-over-year across its da Vinci and Ion systems, significantly surpassing management’s own guidance, paired with an uptick in system placements to 427 da Vinci units in Q3. This placement figure is especially telling, as it indicates strong hospital capital spending and high demand for the latest da Vinci 5 platform. Management reacted by increasing guidance, and the market generously rewarded them.

The $600 Question! After a 40% surge, is ISRG still a worthwhile investment at prices around $600? We believe yes—and here’s why this scenario is distinctly different from the usual “chase the rally” situations. However, before we delve into the specifics, if you are looking for gains with less volatility than owning a single stock, consider the High Quality Portfolio. It has comfortably outshone its benchmark—a mixture of the S&P 500, Russell, and S&P MidCap indexes—and has achieved returns of over 105% since its inception. What’s the reason behind this? As a collective, HQ Portfolio stocks have delivered better returns with lower risk compared to the benchmark index; less volatility, as seen in HQ Portfolio performance metrics. Additionally, take a look at – How Can Google Stock Fall?

The Valuation Reality CheckUnquestionably, ISRG appears remarkably expensive based on traditional metrics:

Price-to-Sales ratio: 22.1x versus 3.3x for the S&P 500Price-to-Free Cash Flow ratio: 93.4x relative to 21.2x for the S&P 500Price-to-Earnings ratio: 77.2x compared to 23.8x for the benchmarkYou’re paying nearly seven times the market multiple on a P/S basis and more than three times on a P/E basis. That’s not just a premium—that’s astronomical.

However, here’s the important context that alters the perception: Is ISRG truly expensive, or is it merely being ISRG?

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The Historical Valuation PerspectiveThis is where the analysis becomes intriguing. ISRG has consistently traded at high valuations for several years:

Average P/S ratio over the last five years: Approximately 20xAverage P/E ratio over the same timeframe: Approximately 76xCurrent multiples of 22.1x P/S and 77.2x P/E are actually consistent with—not exceeding—its historical averages. Thus, while ISRG may seem expensive in comparison to the market, it's trading at a normal price relative to its own past.

What accounts for ISRG's enduring premium? It operates almost as a monopoly in the field of robotic surgical platforms. When you dominate a fast-growing, mission-critical market with substantial barriers to entry, the market provides you with a valuation advantage that other ordinary companies do not receive.

Is the Growth Story Intact?16.3% average annual revenue growth over the past three years (nearly triple the S&P 500’s 5.6%)22.2% growth from $7.9 billion to $9.6 billion over the past 12 monthsThe most recent quarter indicated 22.9% growth to $2.5 billionReview Intuitive Surgical’s Revenue Comparison for further insights into the company’s top-line performance.

Notice the trend? Growth isn’t just robust—it’s accelerating. The quarterly growth of 22.9% significantly surpasses the three-year average of 16.3%. That’s atypical for a mature company, and it confirms the rationale behind the premium valuation.

But Can ISRG Actually Convert That Revenue Into Profit?This is where ISRG truly distinguishes itself from its competitors. The profitability profile is remarkable:

Operating margin: 29.3% relative to 18.8% for the S&P 500Operating Cash Flow margin: 30.8% compared to 20.5% for the benchmarkNet Income margin: 28.6% versus 13.1% for the S&P 500ISRG generates $2.8 billion in operating income on $9.6 billion in revenue. Those margins are reminiscent of software companies within a healthcare equipment sector. This key distinction from Amazon’s situation—ISRG melds high growth with high profitability, not high growth with moderate profitability.

When you’re paying 77 times earnings, but the company produces 28.6% net margins that are more than double the market average, the valuation calculus begins to make sense.

But How Strong Is the Balance Sheet?ISRG’s balance sheet is spotless—possibly one of the cleanest in any sector:

Debt-to-Equity ratio: 0.0% (yes, no debt) against 20.2% for the S&P 500Cash-to-Assets ratio: 25.4% compared to 7.2% for the benchmark$4.9 billion in cash with absolutely no debtNo debt in a capital-intensive medical device environment is astonishing. This grants ISRG unrestricted flexibility for R&D investment, acquisitions, or weathering downturns without financial pressure.

How Does ISRG Handle Market Turbulence?The downturn data presents a familiar trend for high-multiple growth stocks:

Inflation Shock (2022): ISRG experienced a 49.9% drop from November 2021 to October 2022—nearly twice the S&P 500’s 25.4% loss. It bounced back to pre-crisis levels by January 2024.COVID Pandemic (2020): ISRG declined by 40.5%, which was worse than the market's decline of 33.9%. Nevertheless, it recovered in just four months—quite rapid considering elective surgeries were completely halted during lockdown.Global Financial Crisis (2008): ISRG fell by 75.9% compared to 56.8% for the S&P 500. Recovery took roughly a year.What does this inform us? ISRG experiences volatility during downturns—high-multiple stocks invariably take a heavier hit. However, recovery times are reasonable, and the stock has continually achieved new highs following each crisis.

Putting It All TogetherLet’s encapsulate the full picture:

Growth: Very Strong Profitability: Very Strong Financial Stability: Very Strong Downturn Resilience: ModerateOverall Performance: Very StrongHere’s the vital distinction from a standard “expensive stock” scenario: ISRG’s exceedingly high valuation is validated by very robust fundamentals across nearly all metrics. This isn’t paying 77 times earnings for 10% margins and 10% growth—it’s paying 77 times earnings for 28.6% margins and 22% growth, with zero debt and a dominant market position.

Why We Think ISRG Remains AttractiveSeveral tailwinds are likely to sustain continued strength:

Firstly, hospital capital expenditure is rising after years of restrictions. Hospitals postponed significant equipment purchases during COVID and the following inflationary phase—that pent-up need is currently being released.Secondly, the da Vinci 5 platform is fueling an upgrade cycle. Hospitals that have older da Vinci systems are transitioning to the latest technology, generating replacement demand in addition to new adoption.Thirdly, procedure volumes are increasing at 20%—outpacing system placements. This indicates that installed systems are being used more intensely, producing high-margin recurring revenue from instruments and accessories.Lastly, ISRG’s competitive edge remains intact. In spite of many years of forecasts claiming competitors would diminish its influence, ISRG retains its near-monopoly status in robotic surgery.What’s the Risk?The main risk is straightforward: ISRG is very susceptible to adverse events at this level of valuation. Any of these could potentially lead to a sharp correction:

A credible competitive threat emergingA wider market downturn that impacts high-multiple stocksHospital spending cuts caused by economic downturnsAt 77 times earnings, there’s no margin for error. The valuation assumes ongoing strong performance, and any misstep would likely lead to a compression of the multiple.

Hence, investing in a single stock without thorough analysis can be perilous. Consider the Trefis Reinforced Value (RV) Portfolio, which has outperformed its all-cap stocks benchmark (a combination of the S&P 500, S&P mid-cap, and Russell 2000 benchmark indices) to deliver strong returns for investors. Why is that? The quarterly rebalanced blend of large-, mid-, and small-cap RV Portfolio stocks provided a nimble approach to capitalize on positive market conditions while minimizing losses when markets decline, as outlined in RV Portfolio performance metrics.

The Bottom LineIs ISRG expensive? By standard market measures, undoubtedly. But is ISRG overvalued? That’s a different matter. When you’re paying premium multiples for premium fundamentals, the valuation can be justified.

Unlike Amazon, where you’re paying elevated multiples for moderate profitability while hoping for margin expansion, with ISRG, you’re investing high multiples for already-exceptional profitability that is on the rise. Additionally, see how Intuitive Surgical’s growth and margins significantly exceed those of its peers.

The key takeaway is this: ISRG isn’t trading at a premium relative to its own historical valuation—it’s trading in accordance with it. The market has consistently valued ISRG at 20x+ sales and 75x+ earnings as the business quality justifies it. As long as the fundamentals remain exceptionally strong—and at this moment they’re accelerating, not decelerating—the valuation framework should persist.

For investors ready to accept the volatility that accompanies high-multiple stocks and who have faith in the long-term growth of robotic surgery, ISRG continues to be appealing, even at $600.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

New York, New York--(Newsfile Corp. - January 7, 2026) - Leading international securities law firm Bleichmar Fonti & Auld LLP announces an investigation into BellRing Brands, Inc. (NYSE: BRBR) for potential violations of the federal securities laws.

If you invested in BellRing, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases-investigations/bellring-brands-inc-class-action-lawsuit.

Why is BellRing Being Investigated?

BellRing Brands operates in the convenient nutrition category. The Company's primary brands include Premier Protein and Dymatize, which offer ready-to-drink ("RTD") protein shakes and powders. During the relevant period, the Company stated that Premier Protein "hit an all-time high in household penetration" and that "demand remains strong." The Company also stated that its growth was "strong in all channels," driven by "distribution expansion, accelerating velocities and incremental promotional activity."

In truth, the Company's sales growth during the relevant period may have been driven by temporary trade inventory loading at several key retailers, not sustainable end-consumer demand.

The Stock Declines as the Truth Is Revealed

On May 5, 2025, after market hours, BellRing revealed that starting in Q2 2023, "several key retailers lowered their weeks of supply on hand," which would create a headwind to Q3 2025 growth. The Company also announced it was expanding promotions to boost sales and "offset [] third quarter reductions in retailer trade inventory levels." On this news, the price of BellRing stock fell $13.96 per share, or more than 18%, from $77.34 per share on May 5, 2025, to $63.38 per share on May 6, 2025.

Then, on August 4, 2025, after market hours, BellRing announced disappointing quarterly consumption of Premier Protein RTD Shakes, which had been expected to outpace shipments by a wider margin given previously announced retailer destocking, but instead came "more in line" with shipments. On this news, the price of BellRing Brands stock fell $17.46 per share, or nearly 33%, from $53.64 per share on August 4, 2025, to $36.18 per share on August 5, 2025.

Click here for more information: https://www.bfalaw.com/cases-investigations/bellring-brands-inc-class-action-lawsuit.

What Can You Do?

If you invested in BellRing you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases-investigations/bellring-brands-inc-class-action-lawsuit

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named "Elite Trial Lawyers" by the National Law Journal, among the top "500 Leading Plaintiff Financial Lawyers" by Lawdragon, "Titans of the Plaintiffs' Bar" by Law360 and "SuperLawyers" by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases-investigations/bellring-brands-inc-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279627

Source: Bleichmar Fonti & Auld

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

New York, New York--(Newsfile Corp. - January 7, 2026) - Leading international securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Stride, Inc. (NYSE: LRN) and certain of the Company's senior executives for securities fraud after significant stock drops resulting from the potential violations of the federal securities laws.

If you invested in Stride, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit.

Investors have until January 12, 2026, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Stride securities. The case is pending in the U.S. District Court for the Eastern District of Virginia and is captioned MacMahon v. Stride, Inc., et al., No. 1:25-cv- 02019.

Why is Stride Being Sued for Securities Fraud?

Stride is an education technology company that provides an online platform to students throughout the U.S. During the relevant period, Stride stated it was seeing "increasing growth in our business," "in-year strength in demand" for its products and services, and that its customers and potential customers "continue to choose us in record numbers."

As alleged, in truth, Stride had inflated enrollment numbers by retaining "ghost students," ignored compliance requirements for its employees, and had "poor customer experience" that resulted in "higher withdrawal rates," "lower conversion rates," and had driven students away.

Why did Stride's Stock Drop?

On September 14, 2025, a report stated that a complaint had been filed against Stride for fraud, deceptive trade practices, systemic violations of law, and intentional and tortious misconduct. It claimed Stride inflated enrollment numbers by retaining "ghost students" on rolls to secure state funding and ignored compliance requirements, including background checks and licensure laws for its employees. This news caused the price of Stride stock to drop $18.60 per share, or more than 11%, from a closing price of $158.36 per share on September 12, 2025, to $139.76 per share on September 15, 2025.

Then, on October 28, 2025, Stride admitted that "poor customer experience" resulted in "higher withdrawal rates," "lower conversion rates," and drove students away. Stride estimated the impact caused approximately 10,000-15,000 fewer enrollments and stated that, because of this, its outlook is "muted" compared to prior years. This news caused the price of Stride stock to drop $83.48 per share, or more than 54%, from a closing price of $153.53 per share on October 28, 2025, to $70.05 per share on October 29, 2025.

Click here for more information: https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit.

What Can You Do?

If you invested in Stride you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named "Elite Trial Lawyers" by the National Law Journal, among the top "500 Leading Plaintiff Financial Lawyers" by Lawdragon, "Titans of the Plaintiffs' Bar" by Law360 and "SuperLawyers" by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279630

Source: Bleichmar Fonti & Auld

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

ToplineWarner Bros. Discovery urged its shareholders to reject Paramount Skydance’s amended $108 billion bid to take over the media giant, which included a large financial guarantee from billionaire Larry Ellison, insisting Netflix’s deal to acquire the company’s studio and streaming division remained the superior offer.

Warner Bros. urged its shareholder to reject Paramount's update hostile takeover bid.

Getty Images

Key FactsIn an announcement, the company’s board said it had determined the new offer “remains inadequate,” citing insufficient value and “lack of certainty in Paramount Skydance’s ability to complete the offer.”

The note adds that Paramount’s offer is neither superior nor “even comparable” to Netflix’s proposed acquisition of Warner’s studio and streaming arms.

The David Ellison-led Paramount Skydance shared its revised offer with Warner late last month, that kept the price at $108 billion but included a $40 billion from Ellison’s billionaire father—who is also the world’s fourth richest person.

Under the amended offer, Paramount also increased the termination fee from $5 billion to $5.8 billion—raising the amount it would have to pay Warner if the deal fell through.

What To Watch ForWarner’s statement noted that: “WBD continues to be of the view that PSKY is a litigious counterparty, which raises concerns regarding the likelihood that the Offer (or any related merger agreement) will be completed on the terms proposed.” Late last month, the New York Post reported that Paramount was formulating a so-called “Defcon-1” strategy to sue Warner if it choose not to accept the deal.

This is a developing story.

Three-Way Collaboration to Bring Innovative Oral Mucosal Stem Cell Therapy with U.S. GMP Manufacturing and Commercialization Infrastructure to Patients Seeking Treatment for Non-healing Diabetic Foot Ulcers and Other Indications

, /PRNewswire/ -- Cytora Therapeutics Ltd. (Cytora), a clinical-stage biotechnology company based in Israel developing allogeneic, stem cell therapies; Made Scientific, Inc. (Made Scientific), a leading U.S.-based cell therapy contract development and manufacturing organization (CDMO); and Zeo ScientifiX, Inc. (Zeo), a Florida-based clinical-stage biopharmaceutical company specializing in research, clinical trials, manufacturing and the commercialization, and market access of biologics, today announced a comprehensive strategic partnership to advance and commercialize Cytora's novel allogeneic, off- the- shelf, human oral mucosal stem cell therapy in the United States.

The partnership objectives will be the commercialization of the Cytora novel therapeutic through available avenues that have opened up under Florida's recently passed stem cell law, which permits the use of non-FDA- approved stem cells therapies that are compliant with the new regulations for the treatment of wound care, pain, and orthopedic conditions and the parallel commencement of U.S. FDA Phase 2b clinical trials for the therapeutic towards the goal of obtaining an approved FDA license.

Under this multi-party collaboration, Cytora will provide the right to manufacture Cytora's product, while continuing clinical and regulatory development, Made Scientific will serve as the exclusive U.S. manufacturing partner, GMP manufacture, and quality control release testing of starting tissue-derived cell banks and final drug product from its state-of-the-art Princeton, New Jersey facility, and Zeo will serve as the exclusive U.S. commercial partner, providing market access, distribution infrastructure, and clinical site management.

The partnership will initially pursue commercialization under Florida's Senate Bill 1768, a stem cell therapy access law, which provides a pathway for commercialization of adult allogeneic stem cell therapies for patients that suffer from wound care, pain, and orthopedic conditions. Diabetic foot ulcers (DFUs) will serve as the lead indication, providing a potentially meaningful treatment option for an estimated 125,000 new patients annually in Florida alone. The collaboration plans to expand into additional wound, orthopedic, and pain management indications—therapeutic categories that collectively represent over 3.6 million annual cases in the state. The partnership will also support a U.S. FDA IND pathway for a Phase 2b clinical trial and future international regulatory submissions.

Cytora's technology is based on proprietary allogeneic human oral mucosal stem cells (hOMSCs), a unique cell population with demonstrated regenerative potential supported by hOMSC200 Phase 1/2a clinical data. Unlike other stem cell sources, oral mucosal stem cells can be collected through minimally invasive procedures and exhibit favorable characteristics for tissue regeneration and wound healing.

"This strategic partnership represents a major milestone for Cytora as we advance our products toward the market for the benefit of U.S. patients," said Yona Geffen, Ph.D., CEO of Cytora Therapeutics. "Made Scientific's world-class manufacturing expertise combined with Zeo's deep understanding of the U.S. regenerative medicine market create an ideal foundation for bringing our innovative oral mucosal stem cell therapy to patients who urgently need new treatment options. Non-healing diabetic foot ulcers affect millions of patients and represent a significant unmet medical need. We believe Cytora's product has the potential to transform outcomes for these patients and how wounds and other conditions are treated. In parallel, we continue to develop our novel technology for additional indications under U.S. FDA INDs."

"We are excited to partner with Cytora and Zeo on this transformative collaboration that brings together complementary expertise across technology, manufacturing, and commercialization," said Syed T. Husain, Chairman and CEO of Made Scientific. "This partnership exemplifies Made's commitment to supporting innovative cell therapies from development through commercial supply. Our integrated GMP manufacturing capabilities—including full compliance with U.S. FDA and EU GMP Annex 1 requirements—position us to deliver Cytora's innovative therapy that can make a meaningful difference for patients suffering from chronic wounds."

"Zeo has built the regulatory expertise, clinical infrastructure, and physician networks specifically to capitalize on the newly passed Florida's SB 1768 stem cell law and other legal use of stem cell frameworks," said Ian Bothwell, CEO and CFO of Zeo ScientifiX. "Partnering with Cytora and Made Scientific allows us to bring a differentiated allogeneic stem cell therapy to the physicians and patients we already serve. This partnership reflects our shared commitment to expanding patient access to transformative cell therapies through responsible, compliant commercialization."

In a completed Phase 1/2a randomized, placebo-controlled clinical trial, Cytora's hOMSC200 demonstrated a favorable safety profile with no serious adverse events related to treatment, as reviewed by an independent Data Safety Monitoring Board (DSMB). The therapy showed statistically significant superiority over placebo in wound surface area reduction, with complete wound closure achieved in diabetic patients whose ulcers had been open for an average of 27 months.

About Made Scientific
Made Scientific is a leading U.S.-based cell therapy contract development and manufacturing organization (CDMO) specializing in the development, manufacturing, and release of autologous and allogeneic cell therapy products for clinical- and commercial-supply. Operating from two state-of-the-art manufacturing facilities in New Jersey, Made Scientific combines the agility and entrepreneurial spirit of a specialist CDMO with the global expertise and resources of GC Corporation of South Korea, a global leader in the pharmaceutical and biotechnology sectors. For more information, visit www.madescientific.com.

About Cytora
Cytora is an Israeli biopharmaceutical company at the forefront of stem cell therapy. Cytora developed a revolutionary technology to produce off-the-shelf (allogeneic) therapeutic doses of human oral mucosa stem cells to treat challenging diseases, including chronic wounds such as incurable diabetic foot ulcers (DFUs) and degenerative diseases such as Parkinson's disease, multiple system atrophy (MSA), and Alzheimer's disease. The Company successfully completed a Phase 1/2a study for treating DFUs and is currently conducting a Phase 1 study for the treatment of MSA. Cytora's technology platform is based on the discoveries of Prof. Sandu Pitaru, Faculty of Medicine, School of Dentistry at Tel Aviv University, who is also the scientific founder of the Company. For additional information, please visit www.cytorastem.com.

About ZEO ScientifiX™, Inc.
ZEO ScientifiX™, Inc. (OTCQB:ZEOX) is a clinical-stage biopharmaceutical company located at Nova Southeastern University's Collaborative Center for Research focused on research, clinical trials and the manufacturing of biological products. Our leading portfolio of proprietary products are derived from ethically sourced birth tissue and are compliant with Florida's new stem cell therapy law, ZEO's superior line of biological products include mesenchymal stem cells, stem cell derived exosomes, Whartons Jelly matrix, placental membrane tissues and amniotic fluid. ZEO also manufactures Patient Pure X™ ("PPX™"), a proprietary autologous biologic containing a nanoparticle fraction that is precipitated from a patient's own peripheral blood. ZEO's products are all manufactured in FDA-registered, cGMP-compliant laboratory facilities. To learn more, please visit https://zeoscientifix.com.

Forward-Looking Statements
Certain statements contained in this press release should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended (the "Securities Act"), the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "will," "believes," "expects," "potential," or similar expressions, involving known and unknown risks and uncertainties. Although the parties to the partnership described herein believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. No assurances can be given that Florida's SB 1768 stem cell legislation will be beneficial to any of the parties to this partnership, or that any initiatives related to this new law will increase revenues. With respect to ZEO ScientifiX, Inc. (OTCQB: ZEOX), investors are reminded that actual results could vary dramatically as a result of known and unknown risks and uncertainties, including but not limited to: potential issues related to financial condition, competition, the ability to retain key personnel, product safety, efficacy and acceptance, the commercial success of any new products or technologies, success of clinical programs, ability to retain key customers, inability to expand sales and distribution channels, legislation or regulations affecting operations, including product pricing, reimbursement or access, the ability to protect patents and other intellectual property both domestically and internationally, and other known and unknown risks and uncertainties, including the risk factors discussed in ZEO ScientifiX's periodic reports filed with the SEC and available on the SEC's website (http://www.sec.gov). You are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are made as of the date of this release, and none of the parties undertakes any obligation to update any forward-looking statement.

Media Contacts

Made Scientific, Inc.
Lucy Taylor
Head of Marketing
[email protected]

Cytora Therapeutics Ltd.
Tsipi Haitovsky
Global Media Liaison
[email protected]

Zeo ScientifiX, Inc.
Jacqueline Domenech
1-888-963-7881
[email protected]

SOURCE Made Scientific, Inc.; Cytora

Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - January 7, 2026) - BioHarvest Sciences Inc., (NASDAQ: BHST) (FSE: 8MV0) ("BioHarvest" or "the Company"), a company pioneering its patented Botanical Synthesis technology process, today issued a letter to shareholder partners from Chief Executive Officer, Ilan Sobel.

Dear Fellow Shareholders,

2025 marked an important milestone for BioHarvest Sciences: our first full year as a NASDAQ-listed company, and we enter 2026 with an annualized revenue run rate exceeding US$36 million and gross margins above 60%. It was a year of execution, validation, and capability -building across both of our complementary businesses — D2C Products and CDMO Services business units — as well as a year that enabled us to significantly improve our balance sheet and provide us with the capital base necessary to unlock continued expansive growth for the Company in 2026 as well as deliver upon the critical milestone of adjusted EBITDA breakeven in the near term.

D2C Products Business - A Year of Expanding our Portfolio and Active Customer Base

Our D2C Products business, led by the VINIA® brand, has continued its path of aggressive growth and product diversification. The 'VINIA Inside' strategy is allowing us to capitalize on our growing brand awareness and market penetration to expand the demographic reach of our products. Whether it is VINIA capsules, Hot Beverages, Blood Flow Hydration, or Daily Chews, each of these products broadens our demographic reach and positions VINIA at the intersection of major growing consumer trends in the areas of longevity, vitality, cognitive health, and overall healthy living.

Our VINIA Blood Flow Hydration Solution has now been "in market" for 6 weeks and is already being recognized by consumers as a breakthrough concept in the category: the world's first hydration formula with the power of VINIA's rapid absorption Piceid Resveratrol, designed to work synergistically to improve the body's circulation system and more efficiently deliver fluids and electrolytes where the body needs it most. Consumer feedback has been overwhelmingly positive from an efficacy and taste perspective and 2026 will see us double down from an investment perspective on this unique product and delivery system which we believe can deliver significant incremental revenue for the business as we strive to gain our fair share of the $13 billion Electrolyte Hydration market in the U.S.

Our total VINIA® active users now exceed 85,000, a testament to the efficacy of VINIA and for potential future BioHarvest products as well. More than 90% of Vinia.com purchases continue to be subscription-based, and VINIA for the past 6 months has been the #1 Resveratrol-only product on Amazon. With over 10,000 verified online reviews on Vinia.com and a 4.7/5 rating, the direct-to-consumer VINIA portfolio provides a predictable and growing revenue stream with significant expansion upside in both the U.S. and internationally.

CDMO Services Division: A Year of Capability Building and Onboarding Major New Life-Changing Compounds

Our CDMO Services division in 2025 reached a critical inflection point. During the year, we secured anchor partnerships across pharmaceuticals, nutrition, fragrance, and nutraceuticals, validating the commercial relevance of our Botanical Synthesis platform. We advanced multiple customer programs through defined R&D stages, expanded yields and tissue-culture capabilities, and introduced new AI-enabled discovery services. These efforts not only generate milestone-based revenues, but also steadily increase the long-term value of our platform.

This year saw the CDMO business commence work on 2 major new plant-based compounds, both of which are in high demand in multi-billion-dollar industries. In May 2025, we secured a new contract to develop a plant-based fragrance compound derived from a plant species that is under significant threat due to overharvesting and habitat loss and whose biological material supports a multi-billion-dollar segment of the Premium Fragrance Industry. In October, we announced a new contract with Saffron Tech, with the goal of developing a "super" saffron-derived compound using our Botanical Synthesis technology. Given the size of this opportunity, we secured a 25% ownership of the final compound to be developed, and we foresee ourselves playing a critical role in bringing a "Super Saffron" nutraceutical product to market via our existing operationally efficient D2C commercial machine. Our CDMO pipeline remains robust with multiple potential customers that we expect could convert within the next 3-6 months. Our expectation is that CDMO revenues will ultimately surpass our Products division revenues as we continue scaling this business that is less than 24 months old.

Strengthening our Balance Sheet to Drive Further Growth Momentum

Operationally and financially, 2025 was also a year of strengthening. We significantly improved our balance sheet, raising approximately $30.8 million in gross proceeds through warrant exercises, debt conversions, and an oversubscribed institutional equity financing completed in November. We are pleased to welcome a high-quality group of institutional investors to our shareholder base. With these resources, we are positioned to invest in scale, efficiency, and margin expansion, including the planned development of a 100-ton manufacturing footprint at our corporate campus to support both our direct-to-consumer growth and future CDMO production.

Overall, our first year on Nasdaq has resulted in increased analyst coverage and significant increases in both daily trading volume and our overall U.S. investor base, which are important building blocks to achieving a fair market valuation. Our conviction remains that continued execution, growing revenues, and improved profitability will ultimately attract a broader and more stable investor base and reward our shareholders accordingly.

Final Thoughts

Bioharvest Sciences enters this New Year in a position of strength - with growth momentum, strong core fundamentals, and expanded scientific capabilities. Following our successful financing, we are now fully funded, which allows us to focus on our operational objectives, and to make strategic capital investments to support aggressive growth and expansion, including the development of our new corporate campus and expanded manufacturing facility, as well as the advancement of critical innovation across our end-to-end business.

BioHarvest today is a company with two complementary growth engines, operating in large and attractive markets, supported by proprietary technology and improving financial strength. We believe our performance and results will increasingly speak for themselves — and that over time, the market will reflect that value.

Looking ahead, our priorities are clear: accelerate revenue growth, expand margins, and reach adjusted EBITDA breakeven, while continuing to execute against a growing CDMO pipeline and an expanding VINIA product ecosystem. Our vision continues to unfold, and our confidence in the company's strategy, technology, and people has never been stronger.

On behalf of the management team and Board of Directors, thank you for your continued support and confidence.

Best Wishes,

Ilan Sobel

About BioHarvest
BioHarvest (NASDAQ: BHST) (FSE: 8MV0) is a leader in Botanical Synthesis, leveraging its patented technology platform to grow plant-based compounds, without the need to grow the underlying plant. BioHarvest is leveraging its botanical synthesis technology to develop the next generation of science-based and clinically proven therapeutic solutions within two major business verticals; as a contract development and production organization (CDMO) on behalf of customers seeking novel plant-based compounds, and as a creator of proprietary nutraceutical health and wellness products, which includes dietary supplements. To learn more, please visit www.bioharvest.com.

Forward-Looking Statements

Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For the CDMO Services Business Unit, there is no assurance of additional future contracts, and readers are cautioned that increased revenue is not necessarily an increase in net income or profitability as costs will likely increase as well. Launching new products is not certain, may take significant time, and is subject to risks and uncertainties beyond company control such as consumer preferences, competition landscape, government approvals required for sale or import, acceptance of benefit claims, and marketing budgets of the company and its competitors. There is no assurance that the Company will maintain or improve current financial performance or achieve adjusted EBITDA profitability in a specified time frame, as revenues and margins are dependent on a combination of factors such as supply chain efficiencies, input cost stability, marketing efficiencies and uncertain consumer preferences. All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHST does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279690

Source: BioHarvest Sciences Inc.

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LOUISVILLE, Ky., Jan. 07, 2026 (GLOBE NEWSWIRE) -- Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “Company”) (NASDAQ: CREX), a leading provider of digital signage, media and AdTech solutions, today announced the launch of Digital Drive-Thru 2.0, a next-generation modular digital menu board system engineered to help operators streamline installation, simplify maintenance and scale their drive-thru environments over time. Designed for drive-thru environments and applicable across QSR, convenience, and other operators with drive-thru service, the new system allows brands to expand from single-screen setups to multi-screen configurations without replacing the entire structure.

Early test deployments of Digital Drive-Thru 2.0 have produced encouraging feedback from operators evaluating the system’s flexibility and day-to-day impact.

“Consistency, clarity, and ease of use matter in a drive-thru environment,” said Rick Mills, CEO at Creative Realities. “What we designed with Digital Drive-Thru 2.0 was a modular platform that gives brands real flexibility. Operators can add or adjust components over time without rebuilding their entire system, putting meaningful control back in their hands as they evolve the guest experience.”

Developed with direct input from franchisees, installers, and operations leaders, Digital Drive-Thru 2.0 addresses traditional pain points in outdoor menu board replacement and upgrades. The lightweight design can be installed manually—no cranes or forklifts required—reducing downtime and removing barriers that typically slow deployment. Additionally, its semi-reflective canopy lighting and adjustable brightness options help operators comply with municipal restrictions around exterior illumination and motion graphics.

Key Features of Digital Drive-Thru 2.0 include:

Modular, Scalable Architecture: Start with a single-screen presell board and expand to two or three displays without replacing existing hardware.
Adaptive Canopy Lighting: A soft, semi-reflective lighting solution improves visibility while supporting compliance with municipal lighting codes.
Adjustable Clearance Bar: Customizable height with optional dual-lane expansion to support operators moving from one lane to two over time.
Customizable Microphone & Speaker Placement: Intercom components mount to any part of the system, ensuring clear communication regardless of site layout.
Streamlined Installation: Lightweight structures reduce the need for heavy equipment, accelerating deployment and minimizing site disruption.
Fully Digital with Clarity™ CMS: Real-time updates for pricing, promotions, dayparting, and inventory through the Company’s enterprise-ready CMS platform.
POS Integration and Order Confirmation Compatibility: Enables operators to introduce order-accuracy features as their infrastructure evolves.
Weather-Resistant Construction: Durable materials help reduce maintenance needs and extend system life in outdoor environments.
Designed for Multiple Verticals: Engineered for QSR but applicable to convenience stores and other drive-thru operations expanding their food and beverage programs.
“As operators look for ways to modernize their drive-thru experience, they’re also navigating evolving customer expectations, infrastructure constraints and regulatory considerations,” said Rick Mills, CEO at Creative Realities. “Digital Drive-Thru 2.0 was built with adaptability in mind. It gives brands the flexibility to grow at their own pace while maintaining a consistent guest experience across locations.”

Creative Realities has completed two pilot deployments of Digital Drive-Thru 2.0 and expects broader rollout momentum through 2026.

Creative Realities will showcase Digital Drive-Thru 2.0 at NRF 2026, including a full canopy installation and a three-screen configuration. Media and attendees can explore the system’s modular components, lighting features, and CMS capabilities, with on-site interviews available.

About Creative Realities, Inc.
Creative Realities designs, develops and deploys digital signage-based experiences for enterprise-level networks utilizing its Clarity™, ReflectView™, and iShowroom™ Content Management System (CMS) platforms. The Company is actively providing recurring SaaS and support services across diverse vertical markets, including, but not limited to, retail, automotive, digital out-of-home (DOOH) advertising networks, convenience stores, foodservice/QSR, gaming, theater, and stadium venues. In addition, the Company assists clients in utilizing place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity. This includes the design, deployment, and day-to-day management of Retail Media Networks to monetize on-premise foot traffic utilizing its AdLogic™ and AdLogic CPM+™ programmatic advertising platforms.

Contacts
Media:
Idea Grove
[email protected]

Investor Relations:
Chris Witty
[email protected]
646-438-9385
[email protected]
https://investors.cri.com/

FDA assigned PDUFA target action date of July 7, 2026.If approved, atacicept would be the first B cell modulator targeting both BAFF and APRIL for IgAN.Atacicept received FDA Breakthrough Therapy Designation for the treatment of IgAN.
BRISBANE, Calif., Jan. 07, 2026 (GLOBE NEWSWIRE) -- Vera Therapeutics, Inc. (Nasdaq: VERA), a late clinical-stage biotechnology company focused on developing and commercializing transformative treatments for patients with serious immunological diseases, today announced the atacicept Biologics License Application (BLA) for the treatment of adults with immunoglobulin A nephropathy (IgAN) was accepted for Priority Review by the U.S. Food and Drug Administration (FDA). The BLA, which was submitted using the Accelerated Approval Program, was assigned a Prescription Drug User Fee Act (PDUFA) target action date of July 7, 2026. If approved, atacicept could offer patients an autoinjector for at-home self-administration of a once-weekly subcutaneous injection.

“Atacicept offers a distinct approach through dual targeting of BAFF and APRIL, which we believe could advance the standard of care in IgAN, if approved,” said Marshall Fordyce, M.D., Founder and CEO of Vera Therapeutics. “FDA’s Priority Review designation reinforces the need for new therapies that can reshape the IgAN treatment landscape. We remain committed to working with the FDA to facilitate a thorough review of the BLA. Our team is focused on bringing a potential treatment to patients with the urgency they deserve.”

The BLA submission for atacicept is supported by data from a prespecified interim analysis of the ORIGIN 3 trial, which met the primary endpoint of reduction in proteinuria at week 36. Participants treated with atacicept achieved a 46% reduction from baseline in proteinuria as measured by 24-hour urine protein-to-creatinine ratio (UPCR), with a statistically significant and clinically meaningful 42% reduction in UPCR compared to placebo (p<0.0001) at week 36. The safety profile of atacicept across the ORIGIN program appears favorable, and comparable to placebo. Results of the interim analysis were presented as a late-breaking oral presentation at the opening plenary session of the American Society of Nephrology Kidney Week meeting and published in a manuscript in the New England Journal of Medicine on November 6.1

IgAN is a serious and progressive autoimmune disease of the kidney for which there remains a high unmet need for new disease-modifying treatments that target the upstream source of the disease. In at least 50% of patients, IgAN can lead to end-stage kidney disease or kidney failure, which has considerable morbidity and impact on patients’ lives. Atacicept is being developed as an at-home self-administered subcutaneous once-weekly injection that inhibits B-cell Activating Factor (BAFF) and A Proliferation-Inducing Ligand (APRIL), cytokines that drive B-cell production of autoantibodies associated with IgAN and potentially other autoimmune kidney diseases.

Lafayette R, et al. N Engl J Med. 2025 Nov 6. doi: 10.1056/NEJMoa2510198. Online ahead of print.
About Atacicept
Atacicept is an investigational recombinant fusion protein that contains the soluble transmembrane activator and calcium-modulating cyclophilin ligand interactor (TACI) receptor that binds to the cytokines B-cell activating factor (BAFF) and A PRoliferation-Inducing Ligand (APRIL). These cytokines are members of the tumor necrosis factor family that promote B-cell survival and autoantibody production associated with IgAN, lupus nephritis, and other autoimmune kidney diseases.

About the Atacicept Clinical Program
The ORIGIN Phase 2b clinical trial of atacicept in IgAN met its primary and key secondary endpoints, with statistically significant and clinically meaningful proteinuria reductions and stabilization of eGFR versus placebo through 36 weeks. The safety profile during the randomized period was comparable between atacicept and placebo. Through 96 weeks, atacicept demonstrated further improvements in Gd-IgA1, hematuria, and proteinuria, as well as stabilization of eGFR reflecting a profile consistent with that of the general population without IgAN. 

ORIGIN 3 (NCT04716231) is an ongoing global, multicenter, randomized, double-blind, placebo-controlled Phase 3 trial of 431 adults with IgA nephropathy. Participants were randomized 1:1 to atacicept 150 mg, self-administered at home via once weekly subcutaneous injection, or placebo. The primary efficacy endpoint of the prespecified 36-week interim analysis was the change in 24-hour UPCR compared to placebo. ORIGIN 3 met the primary endpoint with a statistically significant and clinically meaningful reduction in proteinuria at week 36. Across the ORIGIN program in IgAN, the safety profile of atacicept appears favorable, and comparable to placebo. The trial continues in a placebo-controlled blinded manner to evaluate the change in kidney function over two years as measured by eGFR, with results expected in 2027. For more information about ORIGIN 3, please visit http://www.clinicaltrials.gov.

Atacicept has received FDA Breakthrough Therapy Designation for the treatment of IgAN, which reflects the FDA’s determination that, based on an assessment of data from the ORIGIN Phase 2b clinical trial, atacicept may demonstrate substantial improvement on a clinically significant endpoint over available therapies for patients with IgAN. Vera Therapeutics believes atacicept is positioned for best-in-class potential, targeting B cells to reduce autoantibodies and having been administered to more than 1,500 patients in clinical trials across different disease areas. 

The ORIGIN Extend study provides ORIGIN study participants with extended access to atacicept until its potential commercial availability in their region and captures longer-term safety and efficacy data. Atacicept is also being evaluated in expanded IgAN populations, anti-PLA2R positive primary membranous nephropathy, and anti-nephrin positive focal segmental glomerulosclerosis (FSGS) and minimal change disease (MCD) patients in the PIONEER trial.

About Vera 
Vera Therapeutics is a late clinical-stage biotechnology company focused on developing treatments for serious immunological diseases. Vera Therapeutics’ mission is to advance treatments that target the source of disease in order to change the standard of care for patients. Vera Therapeutics’ lead product candidate is atacicept, a fusion protein self-administered at home as a subcutaneous once weekly injection that blocks both B-cell Activating Factor (BAFF) and A PRoliferation-Inducing Ligand (APRIL), which stimulate B cells to produce autoantibodies contributing to certain autoimmune diseases, including immunoglobulin A nephropathy (IgAN) and lupus nephritis. Beyond IgAN, Vera Therapeutics is evaluating additional diseases where the reduction of autoantibodies by atacicept may prove clinically meaningful. In addition, Vera Therapeutics holds an exclusive license agreement with Stanford University for a novel, next generation fusion protein targeting BAFF and APRIL, known as VT-109, with wide therapeutic potential across the spectrum of B-cell-mediated diseases. Vera Therapeutics is also developing MAU868, a monoclonal antibody designed to neutralize infection with BK virus, which can have devastating consequences in kidney transplant recipients. Vera Therapeutics retains all global developmental and commercial rights to atacicept, VT-109 and MAU868.

Forward-looking Statements.
Statements contained in this press release regarding matters, events or results that may occur in the future are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, approval of atacicept by the FDA; the distinct approach of atacicept; atacicept's ability to advance the standard of care in IgAN; the strength of Vera Therapeutics’ clinical evidence; the timing of expected results of ORIGIN 3; atacicept’s positioning for best-in-class potential; and the plans, commitments, aspirations and goals under the caption “About Vera Therapeutics”. Words such as “believe,” “expect,” “may,” “plan,” “potential,” “will” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Vera Therapeutics’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks related to the regulatory approval process, results of earlier clinical trials may not be obtained in later clinical trials, preliminary results may not be predictive of topline results, risks and uncertainties associated with Vera Therapeutics’ business in general, the impact of macroeconomic and geopolitical events, and the other risks described in Vera Therapeutics' filings with the U.S. Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Vera Therapeutics undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

For more information, please contact:

Investor Contact:
Joyce Allaire
LifeSci Advisors
212-915-2569
[email protected]

Media Contact:
Debra Charlesworth
Vera Therapeutics
415-854-8051
[email protected]

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Shares of Amazon.com Inc. (NASDAQ: AMZN) gained 4.24% over the past five trading sessions after gaining 1.58% the five prior. That brings the stock’s one-year gain to just 5.85% as Amazon’s attempts to recover its losses in the wake of hitting its all-time high on Nov. 3, 2025. 

When the company reported Q3 earnings on Oct. 30, 2025, it beat on the top and bottom lines, with EPS of $1.95 vs. an estimated $15.7, and revenue of $180.17 vs. $177.80 estimated. Meanwhile, revenue from Amazon Web Services was $33 billion and revenue from advertising was $17.7 billion. Concerns about the company’s enormous AI CapEx remain, but after the Q3 earnings call, the stock was rewarded by bullish investor sentiment, hitting its first record high since February 2025.

In October 2025, leaked documents revealed that the company is aiming to replace around 600,000 Amazon jobs with robots, with the management team estimating that the effort could trim 30 cents off each item purchased via the e-commerce giant by 2027. Last July, the company deployed its 1 millionth robot while also deploying its new AI foundation model to power its robotic fleet.

While certain business segments like smart home devices are lagging, others — namely AWS — are likely to contribute to the company being able to surpass $100 billion in operating income with the next two years. Emerging business segments add to that optimism. Amazon’s recently announced plan to launch a proprietary AI model with advanced reasoning capabilities is set to compete with OpenAI’s ChatGPT. Scheduled for a June launch date, the model — named Nova — is intended to provide a price-efficient option over its competitors, including ChatGPT, Anthropic’s Claude 3.7 Sonnet and Google’s Gemini 2.0 Flash Thinking.

Outside of NVIDIA Corp. (NASDAQ: NVDA), Amazon has been a Wall Street darling since the company’s initial public offering in May 1997 at a split-adjusted price of $0.07. Amazon is up more than 10,901% since January 2005. However, the only thing that matters from this point on is what the stock will do for the next one, five and 10 years in the future.

24/7 Wall St. crunched the numbers to give you our best guess about Amazon’s future share price. No one has a crystal ball, and even the Wall Street is wrong just as often as it is right when it comes to predicting future stock prices. So we will walk through our assumptions and provide you with the story around the numbers (other sites just pick a share price without explaining why).

Amazon’s Recent Stock Success  Here’s a table summarizing performance in share price, revenues, and profits (net income) from 2014 to 2017.

Year Share Price Revenues* Net Income* 2014 $19.94 $89.0 ($.241) 2015 $15.63 $107.0 $.596 2016 $32.81 $136.0 $2.371 2017 $37.90 $177.9 $3.03 2018 $58.60 $232.9 $10.07 2019 $73.26 $280.5 $11.59 2020 $93.75 $386.1 $21.33 2021 $163.50 $469.8 $33.36 2022 $167.55 $514.0 ($2.72) 2023 $85.46 $574.78 $30.42 2024 $219.39 $637.96 $59.2 2025 $230.82 TBD TBD *Revenue and net income in billions

From 2014 to 2024, Amazon’s revenue grew by 616.80%. The ride up wasn’t always smooth, however. For example, in 2020, sales jumped 38%, and net income nearly doubled. 2021 saw a continued boom as people moved to e-commerce shopping during Covid. However, all those sales being “pulled forward” led to challenges in 2022, and the company swung to a surprise loss. As Amazon embarks into the back half of the decade, a few different key areas will determine its performance.

Key Drivers of Amazon’s Stock Performance 1. E-commerce Success: While COVID-19 brought record sales to Amazon, it also led to many competitors investing heavily to compete with Amazon online. While e-commerce is still just 15% of retail sales, putting up huge growth rates in online sales won’t be as easy in the coming years as it was a decade ago.

2. Amazon Web Services: Amazon Web Services first-quarter 2024 revenue was $25.04 billion and the unit should break $100 billion in total sales this year. In Q3 2025, the company reported AWS growth of 20% year-over-year based on revenue of $33 billion. That growth may not be as fast as competing cloud services like Microsoft Corp.‘s (NASDAQ: MSFT) Azure and Alphabet Inc.‘s (NASDAQ: GOOGL) Google Cloud, so Amazon is at risk of falling behind its cloud competitors before 2030 if it cannot stop market share losses.

3. Advertising: Amazon exited 2024 with $17.3 billion in advertising business during the fourth quarter alone. Advertising could be another high-margin business line. Amazon currently gets most of its profits from its AWS cloud business, which has led the company past $100 billion in annual profits. In Q3 2025, the company reported Amazon Ads revenue of $17.7 billion, which was a 24% year-over-year gain from the same quarter in 2024.

Amazon (AMZN) Stock Price Prediction in 2026 According to Wall Street analysts, the current median one-year price target for Amazon is $295.72, representing potential upside of 22.74% from today’s price. The stock receives a consensus “Strong Buy” rating from 47 analysts covering Amazon, with 46 assigning it a “Buy” rating, one assigning it a “Hold” rating and none assigning it a “Sell” rating.

However, 24/7 Wall St.‘s year-end forecast projects Amazon’s stock price to be $262.90, good for potential upside of 9.11% from today’s price. We see AWS continuing its current strong growth rate and also predict Amazon’s advertising business to continue outperforming analysts’ expectations.

Amazon (AMZN) Stock Forecast 2026–2030  AWS: Assuming AWS stems its market share loss and investments in AI to counterbalance the threat from Microsoft and Google. E-commerce: Amazon continues to pour investments into e-commerce, forgoing added profits to maintain market share. Our case model assumes growth in new logistics and efficiencies from robotics in warehouses leads to this unit finally delivering strong operating profits. Advertising: Amazon’s advertising continued to grow to the now $47 billion business unit, and we see a high teens growth rate compounded annually. Add all these numbers up and take out some amount for “new bets” the company will surely be investing in (and a potential dividend boost) and we see revenue in 2030 at $1.15 trillion and $131 billion in net income. Today, the company trades for about 50X earnings, which we’ll take down to 35 times as the company matures (but continues showing growth). In our analysis, Amazon is worth $2.6 trillion in 2030. Here are our revenue, net income, and company size estimates through 2030:

Year Revenue Net Income Total Enterprise Value 2024 $638 $48.56 $1.93 2025 $710 $62.13 $2.12 2026 $788 $79.68 $2.19 2027 $867 $96.53 $2.29 2028 $957 $114.17 $2.39 2029 $1,049 $136.69 $2.5 2030 $1,149 $131.39 $2.6 *Revenue and net income reported in billions and TEV in trillions

Amazon’s Share Price Estimates 2026-2030 By the end of 2030, we estimate Amazon’s stock price to be $524.67 per share with 10% year-over-year revenue growth but compressed margins from more competition in its AWS unit. That price target represents potential upside of 117.76%.

Year Price Target %Change From Current Price 2026 $262.90 9.11% 2027 $305.66 26.86% 2028 $357.21 48.26% 2029 $429.83 78.40% 2030 $524.67 117.76% If You have $500,000 Saved, Retirement Could Be Closer Than You Think (sponsor) Retirement can be daunting, but it doesn’t need to be.

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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings, Inc. (NYSE: UVE) (“Universal” or the “Company”) announced today that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $20 million of its outstanding shares of common stock through January 8, 2028. Share repurchases may be made by the Company from time to time in open market transactions at prevailing market prices. The Company intends to effect repurchase transa.

, /PRNewswire/ - First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the results of the updated socio-economic analysis (the "Updated Analysis") for the Company's 100% owned Springpole Gold Project (the "Project" or "Springpole") located in Ontario, Canada. The final Environmental Impact Statement/Environmental Assessment ("EA/EIS") submitted to Ontario and Canada in November 2024 included an analysis of the Project benefits. This analysis has been updated based on the recently announced updated Pre-Feasibility Study (the "PFS"). The Updated Analysis undertaken by WSP Canada Inc. demonstrates the major benefits to the local region around the Project, to Ontario and to Canada.

"We are pleased to announce the socio-economic analysis results for Springpole, which demonstrate the potential for the Project to be one of the largest economic drivers of Northwestern Ontario for generations to come," stated Dan Wilton, CEO of First Mining. "The Project will generate billions of dollars in government revenue, deliver hundreds of jobs and careers in the local region, provide significant contracting opportunities for regional and Indigenous businesses and add billions of dollars to the gross domestic product at a critical time for the Ontario and Canadian economy. Springpole is a transformative gold and silver project that will provide unprecedented opportunities and infrastructure improvements for the Indigenous and local communities in the area."

The Updated Analysis considers the socio-economic impact during the construction, operations and closure phases. In the current gold price environment, and accounting for direct, indirect and induced employment opportunities, the Project is capable of delivering 3,340 jobs in each year of construction and 5,910 jobs during each year of operations for a total of over 67,000 person-years of employment. In addition, the Project is expected to generate over $7 billion of tax revenue for governments and contribute $15 billion to the Gross Domestic Product.

Nearing the end of both the provincial and federal EA/EIS processes, the Project is positioned as one of the few near-term economic development opportunities in the Canadian mining sector. The Project will provide long-term economic stability and development throughout northwestern Ontario, where other sectors and industries operating in the region have been experiencing a decline in activity.

First Mining is committed to its on-going work with local and Indigenous communities, Ontario and Canada towards the development of the Project in a manner that achieves both a high level of socio-economic benefit and environmental protection. 

About First Mining Gold Corp.

First Mining is a gold developer advancing two of the largest gold projects in Canada, the Springpole Gold Project in northwestern Ontario, where we have commenced a Feasibility Study and permitting activities are on-going with a final Environmental Impact Statement / Environmental Assessment for the project submitted in November 2024, and the Duparquet Gold Project in Quebec, a PEA-stage development project located on the Destor-Porcupine Fault Zone in the prolific Abitibi region. First Mining also owns the Cameron Gold Project in Ontario and a 30% project interest in the Pickle Crow Gold Project.

First Mining was established in 2015 by Mr. Keith Neumeyer, founding President and CEO of First Majestic Silver Corp.

ON BEHALF OF FIRST MINING GOLD CORP.

Daniel W. Wilton
Chief Executive Officer and Director

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "opportunities", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, First Mining's plans related to its Springpole, Duparquet and other projects. All forward-looking statements are based on First Mining's or its consultants' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Such factors include, without limitation the Company's business, operations and financial condition potentially being materially adversely affected by the outbreak of epidemics, pandemics or other health crises, and by reactions by government and private actors to such outbreaks; risks to employee health and safety as a result of the outbreak of epidemics, pandemics or other health crises, that may result in a slowdown or temporary suspension of operations at some or all of the Company's mineral properties as well as its head office; fluctuations in the spot and forward price of gold, silver, base metals or certain other commodities; fluctuations in the currency markets (such as the Canadian dollar versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities, indigenous populations and other stakeholders; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; title to properties.; and the additional risks described in the Company's Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F filed with the SEC on EDGAR.

First Mining cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to First Mining, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. First Mining does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.

SOURCE First Mining Gold Corp.

The vessel tanker Bella 1 at Singapore Strait, after U.S. officials say the U.S. Coast Guard pursued an oil tanker in international waters near Venezuela, in this picture taken from social media on March 18, 2025. Hakon Rimmereid/via REUTERS/File Photo Purchase Licensing Rights, opens new tab

WASHINGTON, Jan 7 (Reuters) - The United States is attempting to seize a Venezuela-linked oil tanker after a more than two-week-long pursuit across the Atlantic, two U.S. officials told Reuters on Wednesday.

The seizure, which could stoke tensions with Russia, came after the tanker, originally known as the Bella-1, slipped through a U.S. maritime "blockade" of sanctioned tankers and rebuffed U.S. Coast Guard efforts to board it.

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The officials, who were speaking on condition of anonymity, said the operation is being carried out by the Coast Guard and U.S. military.

They added that Russian military vessels were in the general vicinity when the operation took place, including a Russian submarine.

The tanker, now known as the Marinera and registered under a Russian flag, is the latest tanker targeted by the U.S. Coast Guard since the start of U.S. President Donald Trump's pressure campaign against Venezuela.

Separately, the U.S. Coast Guard has also intercepted another Venezuela-linked tanker in Latin American waters, U.S. officials told Reuters, as the U.S. continues enforcing a maritime "blockade" of sanctioned vessels from Venezuela.

Reporting by Idrees Ali and Phil Stewart; Editing by Andrew Heavens

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

National security correspondent focusing on the Pentagon in Washington D.C. Reports on U.S. military activity and operations throughout the world and the impact that they have. Has reported from over two dozen countries to include Iraq, Afghanistan, and much of the Middle East, Asia and Europe. From Karachi, Pakistan.

Phil Stewart has reported from more than 60 countries, including Afghanistan, Ukraine, Syria, Iraq, Pakistan, Russia, Saudi Arabia, China and South Sudan. An award-winning Washington-based national security reporter, Phil has appeared on NPR, PBS NewsHour, Fox News and other programs and moderated national security events, including at the Reagan National Defense Forum and the German Marshall Fund. He is a recipient of the Edwin M. Hood Award for Diplomatic Correspondence and the Joe Galloway Award.

American Superconductor Corporation (AMSC) Q2 2025 Earnings Call November 6, 2025 10:00 AM EST

Company Participants

Nicol Golez - Director of Communications
Daniel McGahn - Chairman, President & CEO
John Kosiba - CFO, Senior VP & Treasurer

Conference Call Participants

Eric Stine - Craig-Hallum Capital Group LLC, Research Division
Colin Rusch - Oppenheimer & Co. Inc., Research Division
Justin Clare - ROTH Capital Partners, LLC, Research Division

Presentation

Operator

Good morning, and welcome to the AMSC Second Quarter Fiscal 2025 Financial Results Call. [Operator Instructions]. Please note this event is being recorded.

I would now like to turn the conference over to Nicol Golez, Director of Communications. Please go ahead.

Nicol Golez
Director of Communications

Thank you, Jason. Good morning, everyone, and welcome to American Superconductor Corporation's Second Quarter of Fiscal Year 2025 Conference Call. I am Nicol Golez, AMSC's Director of Communications. Joining me today are Daniel McGahn, Chairman, President and Chief Executive Officer; and John Kosiba, Senior Vice President, Chief Financial Officer and Treasurer.

Yesterday, after the market closed, American Superconductor issued its earnings release for the second quarter of fiscal year 2025. A copy of this release is available on the Investors page of the company's website at www.amsc.com.

During today's call, remarks that management may make about American Superconductor's future expectations, including expectations regarding the company's future financial results, plans and prospects constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including those set forth in the Risk Factors section of American Superconductor's Form 10-K for the year ended March 31, 2025, which the company filed with the Securities and Exchange Commission on May 21, 2025, as well as our other filings, all of which are available on our website. The company disclaims any obligation to update these forward-looking statements.

HomeStock IdeasLong IdeasIndustrial 

SummaryRedwire Corporation has seen a significant bullish run, driven by surging European sales and successful technical milestones.European revenue grew 117% in FY24 to $153.8M, now comprising over half of RDW’s total sales, with further growth expected in FY25 and beyond.RDW’s successful Σyndeo-3 payload integration under ESA’s IOD/IOV program positions it for future EU and ESA contracts, strengthening its European pipeline.Despite strong growth prospects, RDW faces liquidity risks with high cash burn and will likely require additional financing in 2026. gremlin/E+ via Getty Images

Thesis Redwire Corporation (RDW), as well as many other small-cap space/defence players, have seen a particularly bullish run-up over the past month. It comes at a good time, too, when they need to build significant momentum going into

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com

NEW YORK, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Julie & Holleman LLP, whose attorneys have helped recover hundreds of millions of dollars and secured extensive governance reforms, is investigating potential claims against KinderCare Learning Companies, Inc. (NYSE: KLC) insiders in connection with losses suffered by the company’s stockholders.

For a free consultation, please visit https://julieholleman.com/kindercare-learning-companies-inc/ or contact partner Scott Holleman at (929) 415-1020 or by email at [email protected].

According to court filings, KinderCare failed to disclose numerous problems with its business in documents filed with the SEC in connection with the company’s initial public offering. Among other things, a complaint alleges that KinderCare failed to disclose a history of child neglect, safety issues, and regulatory risks tied to the company’s operations.

When the truth emerged, KinderCare’s stock plummeted.

Julie & Holleman, whose attorneys have helped secure hundreds of millions of dollars in prior cases, is investigating legal claims against KinderCare, its executives, and potentially also the company’s board of directors in connection with the alleged fraud.

For more information, please contact the firm at https://julieholleman.com/kindercare-learning-companies-inc/, by email at [email protected], or by telephone at (929) 415-1020.

FIRM INFORMATION

Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm’s attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit www.julieholleman.com. This notice may constitute attorney advertising.

Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com

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Apple Inc. (NASDAQ: AAPL) has long attracted students and tech-minded users with its ergonomic approach to computing and communications. Its popularity soared in the 1990s, and even the Tom Hanks movie Forrest Gump referenced its high-growth stock.

Back in 2018, Apple made financial history by becoming the first U.S. company to reach a $1 trillion market cap. Millions of iPhones, MacBooks, iPods, and other Apple products have developed fiercely loyal followings, especially in creative fields like music and video production, graphic design, and many other industries.

As one of the Magnificent 7 tech stocks, Apple has been a solid industry leader since its late founder, Steve Jobs, passed the helm to then-COO Tim Cook in 2011. The company has since been a ubiquitous success story, with even the notoriously Luddite-prone Warren Buffett buying its stock for a time.

However, investors are much more concerned with future stock performance over the next one, five, to 10 years. While most Wall Street analysts calculate 12-month forward projections, it is clear that nobody has a consistent crystal ball, and plenty of unforeseen circumstances can render even near-term projections irrelevant. 24/7 Wall St. aims to present some farther-looking insights based on Apple’s own numbers, along with business and market development information that may be of help to our readers’ own research.

Apple’s Past Performance

Despite new products, developments in artificial intelligence, and an enviably strong balance sheet, Apple has been dealing with some challenges of late. Some of the top ones from the long list include: The U.S. Department of Justice filed an antitrust lawsuit against Apple, alleging it blocks “super” apps, suppresses mobile cloud streaming services, blocks cross-platform messaging apps, limits third-party digital wallets, and limits how well third-party smartwatches work on its platforms. In late June, Apple lost a bid to dismiss that lawsuit. Though iPhone 17 demand is strong. Huawei and other competitors continue to gain a greater share of the Chinese smartphone market. The prospect of tariffs on hardware manufactured in China could squeeze profit margins. Apple has resisted demands from the Indian government preinstall a state-backed security app on iPhones, and Russia shuttered FaceTime within the country. Italy’s antitrust agency fined Apple $116 million for allegedly abusing its dominant position with privacy features. Apple is perceived as being significantly behind competitors like Google, Microsoft, and OpenAI in the generative AI space. Other developments over the past few years:

2020 saw Apple end its chip relationship with Intel to go into in-house design with its M1 chip and subsequent M2 chip, made in collaboration with Samsung. Apple Wallet launched an installment plan payment platform in 2023 in the wake of high inflation as a means to help customers finance Apple product purchases. In February 2024, a federal judge ruled in Apple’s favor and dismissed an antitrust lawsuit that claimed that it had illegally monopolized the United States market on heart rate apps for the Apple Watch. Apple’s lawsuit with Epic Games over antitrust practices was ruled in its favor, but it revealed Apple’s predatory marketing practices to the general public. Apple has committed to investing over $600 billion in the United States over the next four years. An AI hardware and a server plant in Houston is expected to open this year. Apple Intelligence and a Liquid Glass design were unveiled at the WWDC 2025 conference last June. A new chief operating officer assumed the reins in July, and Apple has expanded its global retail footprint. Apple unveiled its M5 chip and included it in iPads, MacBooks, and other products, and a new Digital ID feature in Apple Wallet. Fiscal Year (Sept) Price Revenues Net Income 2015 $27.58 $233.72 B $53.39 B 2016 $28.26 $215.64 B $45.69 B 2017 $38.53 $229.23 B $48.35 B 2018 $56.44 $265.60 B $59.53 B 2019 $55.99 $260.17 B $55.26 B 2020 $115.81 $274.52 B $57.41 B 2021 $141.50 $365.82 B $94.68 B 2022 $138.20 $394.24 B $99.80 B 2023 $171.21 $383.29 B $97.00 B 2024 $250.42 $391.04 B $93.70 B Key Drivers for the Stock

Free software update Apple Intelligence should be a huge driver of sales for the next half-decade. The processing power requirements for AI use will drive users to upgrade to the latest M5 chip or other equipped iPhones, MacBooks, and other devices.

Apple’s wearables segment, with significant emphasis on Vision Pro, Apple Watch, and AirPods, may receive a huge marketing push in the coming years. All these products are slated for substantial updates and act as key growth drivers for the company.

Apple services, already past the 1 billion subscription milestone, should continue to grow, thanks to new content like the popular Severance and Pluribus, as well as flexible virtual credit card installment payments for Apple Wallet, and iCloud storage for AI projects.

Stock Price Prediction for 2025

The consensus recommendation of 49 Wall Street analysts who follow the stock is to buy shares, with four of them having Strong Buy ratings. The mean 12-month price target on Apple stock has risen to $287.71, which would be a gain of 9.7% from the current price. 24/7 Wall St.’s projected price for 2026 is $346.84, or more than a 32% gain.

The initial Apple Intelligence campaign that started in 2024 and continued through 2025 may have run its course. iPhone sales, which still comprise over half of Apple’s total revenues, as of 2025, as well as iPad MacBook sales, will continue but likely slow down until the next campaign cycle. Toward the end of 2026, we think the company will finally resolve its Masimo Apple Watch app lawsuit, as well as its U.S. government labor and DOJ issues, which should help in 2027.

Apple’s Outlook for the Next Few Years

Apple’s historical P/E ratio has increased in the past couple of years. Here, we have calculated the price numbers with a conservative 25 P/E in 2025 and increasing in the following years.

EPS P/E Multiple Price 2025 $12.97 25 $324.25 2026 $13.34 26 $346.84 2027 $15.72 27 $424.44 2028 $18.05 28 $505.40 2029 $20.59 29 $597.11 2030 $23.93 30 $717.90 In 2027, Apple TV+ original content should build on the popularity of Severance and Ted Lasso with both new TV series and feature films. With top-notch talent, like Javier Bardem, Annette Bening, Harrison Ford, John Malkovich, Kurt Russell, and many others starring in Apple TV+ original programming, subscription growth should offer a boost to revenues. Additional products, like AirPods and HomePods, should also see sales growth commensurate with other media-related subscription upswings. We project a 2027 price of $424.44.

2028 is a year of “what-ifs.” On the bullish side, we think that Apple will continue on the trajectory established in 2027 with new programming for Apple TV+ and ancillary media device sales.

However, some geopolitical analysts in the U.S. Department of Defense believe that China may be prepared to annex Taiwan by the end of 2027. Apple is dependent on Taiwan Semiconductor for its M4 and other chips.

With Huawei successfully dominating the Chinese smartphone market, an invasion of Taiwan could cripple MacBook Air and Pro production, as well as other devices that Apple does not already assemble in Vietnam or other nations. The resulting events would severely affect Apple’s operations, forcing it to concentrate on the U.S. domestic and European markets. We project a 2028 price of $505.40, based on China staying its hand. Otherwise, the target price would be half of that if an invasion were to commence.

Apple’s wearables—which include its Vision Pro VR devices, Apple Watch, and others—should see a jump in popularity in 2029. The latest iterations of these devices, equipped with Apple Intelligence, will likely get collaborative marketing deals with celebrities and fashion designers for mass marketing campaigns. Our projected 2029 price is $597.11.

The Share Price in 2030

By 2030, Apple Intelligence could be fully integrated with all Apple devices and services in its ecosystem, as well as with IoT devices outside the Apple Universe. It would likely feature new updates and added premium features available by subscription. The latest Apple Intelligence iteration will likely demand even greater computing power and speed, conveniently available only with the latest iPhone, iPad, and Mac equipped with an even more powerful processor. Intense marketing to demonstrate the lifestyle convenience available for those who are “all-in” with the Apple Digital Universe will drive sales across the board.

24/7 Wall St. predicts a stock price of $717.90 in 2030, which represents more than 173% upside potential. Here is another look at how it gets there:

Price Target Upside Potential 2026 $346.84 32.2% 2027 $424.44 61.8% 2028 $505.40 92.6% 2029 $597.11 127.6% 2030 $717.90 173.6% Why Apple Might Attract More of an AI Multiple in 2026

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NEW YORK--(BUSINESS WIRE)--MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced trading volume and preliminary variable transaction fees per million (“FPM”) for December 2025 and the fourth quarter ended December 31, 2025.1

Select Fourth Quarter 2025 Highlights* (See tables 1-1C and table 2)

Our new initiatives continued to show strong year-over-year progress across the client-initiated, portfolio trading and dealer-initiated channels.

Client-Initiated Channel

29% growth in block trading average daily volume (“ADV”), with strong growth across U.S. credit (+21%), record emerging markets (+41%) and eurobonds (+43%). Portfolio Trading Channel

41% increase in total portfolio trading ADV to a record $1.5 billion, with record U.S. high-yield portfolio trading ADV of $368 million and record emerging markets portfolio trading ADV of $118 million. Our estimated market share of U.S. credit portfolio trading was a record 20.6%, compared to 16.2% in the prior year, and 19.1% in 3Q25. Record U.S. credit portfolio trading estimated market share in the quarter was driven in part by record U.S. high-yield estimated market share in December 2025 of 27.7%. Dealer-Initiated Channel

32% increase in dealer-initiated ADV to $1.8 billion, consisting of a 20% increase in Dealer RFQ ADV and an 185% increase in Mid-X ADV. Our Mid-X protocol in U.S. credit surpassed $3.0 billion in trading volume in December 2025. Fourth Quarter 2025 Variable Transaction Fees Per Million1 (See table 1D)

The decline in total credit FPM both year-over-year and quarter-over-quarter was driven principally by protocol mix, partially offset by the higher duration of bonds traded in U.S. high-grade. Total credit FPM in December 2025 was flat month-over-month compared to November 2025. The increase in total rates FPM both year-over-year and quarter-over-quarter was driven by the impact of product mix. *All comparisons versus fourth quarter 2024 unless noted.

Table 1: MarketAxess ADV

Month

% Change

Quarter

% Change

Dec-25

Nov-25

Dec-24

MoM

YoY

4Q25

3Q25

4Q24

QoQ

YoY

MKTX ADV ($ millions)

Credit

U.S. High-Grade (incl. SD PT)2

$

6,275

$

7,763

$

5,949

(19

)

%

5

%

$

7,035

$

6,783

$

6,578

4

%

7

%

U.S. High-Grade (excl. SD PT)2

6,043

7,594

5,921

(20

)

2

6,848

6,558

6,454

4

6

U.S. High-Yield (incl. SD PT)2

1,591

1,791

1,222

(11

)

30

1,749

1,557

1,378

12

27

U.S. High-Yield (excl. SD PT)2

1,391

1,622

1,219

(14

)

14

1,543

1,347

1,345

15

15

Emerging Markets

3,515

4,265

2,869

(18

)

23

3,986

3,803

3,459

5

15

Eurobonds

2,003

2,741

1,619

(27

)

24

2,407

2,196

2,001

10

20

Other Credit Products3

594

586

657

1

(10

)

597

631

624

(5

)

(4

)

Municipal Bonds

593

585

656

1

(10

)

597

630

620

(5

)

(4

)

Total MKTX Credit ADV (excl. SD PT)2

$

13,546

$

16,808

$

12,285

(19

)

10

$

15,381

$

14,535

$

13,883

6

11

Rates

U.S. Government Bonds

$

19,406

$

22,966

$

18,735

(16

)

%

4

%

$

21,819

$

23,130

$

25,952

(6

)

%

(16

)

%

Agencies and Other Government Bonds

620

715

1,017

(13

)

(39

)

686

1,166

1,195

(41

)

(43

)

Total MKTX Rates ADV

$

20,026

$

23,681

$

19,752

(15

)

1

$

22,505

$

24,296

$

27,147

(7

)

(17

)

Total MKTX Trading ADV

$

33,572

$

40,489

$

32,037

(17

)

5

$

37,886

$

38,831

$

41,030

(2

)

(8

)

U.S. Trading Days4

22

18

21

62

64

62

U.K. Trading Days4

21

20

20

64

65

64

Table 1A: Market ADV

Month

% Change

Quarter

% Change

Dec-25

Nov-25

Dec-24

MoM

YoY

4Q25

3Q25

4Q24

QoQ

YoY

MARKET ADV ($ millions)

Credit

U.S. High-Grade TRACE

$

32,493

$

41,114

$

30,344

(21

)

%

7

%

$

37,240

$

37,028

$

34,986

1

%

6

%

U.S. High-Yield TRACE

10,112

12,279

8,294

(18

)

22

11,563

11,348

10,061

2

15

Total U.S. Credit TRACE

42,605

53,393

38,638

(20

)

10

48,803

48,375

45,047

1

8

Municipal Bonds MSRB

9,555

9,457

9,630

1

(1

)

9,686

10,908

8,755

(11

)

11

Rates

U.S. Government Bonds TRACE

$

944,841

$

1,091,150

$

832,181

(13

)

%

14

%

$

1,006,294

$

1,006,577

$

926,037

(0

)

%

9

%

Agency TRACE

3,454

3,449

3,294

0

5

3,548

4,177

3,897

(15

)

(9

)

U.S. Trading Days4

22

18

21

62

64

62

U.K. Trading Days4

21

20

20

64

65

64

Table 1B: Estimated Market Share

Month

Bps Change

Quarter

% Change

Dec-25

Nov-25

Dec-24

MoM

YoY

4Q25

3Q25

4Q24

QoQ

YoY

MKTX ESTIMATED MARKET SHARE (%)

U.S. High-Grade

% of U.S. High-Grade TRACE (incl. SD PT)2

19.3

%

18.9

%

19.6

%

+40

bps

(30)

bps

18.9

%

18.3

%

18.8

%

+60

bps

+10

bps

% of U.S. High-Grade TRACE (excl. SD PT)2

18.6

%

18.5

%

19.5

%

+10

(90)

18.4

%

17.7

%

18.4

%

+70

-

U.S. High-Yield

% of U.S. High-Yield TRACE (incl. SD PT)2

15.7

%

14.6

%

14.7

%

+110

bps

+100

bps

15.1

%

13.7

%

13.7

%

+140

bps

+140

bps

% of U.S. High-Yield TRACE (excl. SD PT)2

13.8

%

13.2

%

14.7

%

+60

(90)

13.3

%

11.9

%

13.4

%

+140

(10)

Other Credit Products

% of Municipal Bonds MSRB

6.2

%

6.2

%

6.8

%

-

bps

(60)

bps

6.2

%

5.8

%

7.1

%

+40

bps

(90)

bps

Rates

% of U.S. Government Bonds TRACE

2.1

%

2.1

%

2.3

%

-

bps

(20)

bps

2.2

%

2.3

%

2.8

%

(10)

bps

(60)

bps

Table 1C: Strategic Priorities ADV2

Month

% Change

Quarter

% Change

Dec-25

Nov-25

Dec-24

MoM

YoY

4Q25

3Q25

4Q24

QoQ

YoY

STRATEGIC PRIORITIES ADV ($ millions)

Client-Initiated Channel

U.S. Credit Block Trading

$

2,298

$

3,245

$

2,108

(29

)

%

9

%

$

2,811

$

2,589

$

2,330

9

%

21

%

Emerging Markets Block Trading

1,494

1,954

1,004

(24

)

49

1,687

1,553

1,194

9

41

Eurobonds Block Trading

291

532

195

(45

)

49

425

364

297

17

43

Portfolio Trading Channel

Total MKTX Portfolio Trading

$

1,541

$

1,364

$

1,002

13

%

54

%

$

1,491

$

1,375

$

1,060

8

%

41

%

Total MKTX U.S. Credit Portfolio Trading

1,200

1,003

825

20

45

1,146

1,140

796

1

44

Total U.S. Credit TRACE Portfolio Trading

5,206

5,685

4,950

(8

)

5

5,555

5,962

4,929

(7

)

13

Dealer-Initiated Channel

Total Dealer Initiated (DRFQ & Mid-X)

$

1,602

$

1,916

$

1,088

(16

)

%

47

%

$

1,755

$

1,516

$

1,334

16

%

32

%

Other

Open Trading

$

4,382

$

5,370

$

3,642

(18

)

%

20

%

$

4,939

$

4,349

$

4,130

14

%

20

%

AxessIQ

160

170

135

(6

)

19

164

163

147

1

12

U.S. Trading Days4

22

18

21

62

64

62

U.K. Trading Days4

21

20

20

64

65

64

Table 1D: Variable Transaction Fees Per Million (FPM)1

Month

% Change

Quarter

% Change

Dec-25

Nov-25

Dec-24

MoM

YoY

4Q25

3Q25

4Q24

QoQ

YoY

AVG. VARIABLE TRANS. FEE PER MILLION (FPM)

Total Credit

$

138

$

138

$

148

0

%

(7

)

%

$

138

$

140

$

150

(1

)

%

(8

)

%

Total Rates

4.79

4.52

4.14

6

16

4.72

4.21

4.31

12

10

General Notes Regarding the Data Presented

Reported MarketAxess volume in all product categories includes only fully electronic trading volume. MarketAxess trading volumes and the Financial Industry Regulatory Authority (“FINRA”) Trade Reporting and Compliance Engine (“TRACE”) reported volumes are available on the Company’s website at investor.marketaxess.com/volume.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including statements about the outlook and prospects for the Company, market conditions and industry growth, as well as statements about the Company’s future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess’ current expectations. The Company’s actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: global economic, political and market factors; the level of trading volume transacted on the MarketAxess platform; the rapidly evolving nature of the electronic financial services industry; the level and intensity of competition in the fixed-income electronic trading industry and the pricing pressures that may result; the variability of our growth rate; our ability to introduce new fee plans and our clients’ response; our ability to attract clients or adapt our technology and marketing strategy to new markets; risks related to our growing international operations; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our exposure to risks resulting from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in matched principal trades; risks related to self-clearing; risks related to sanctions levied against states or individuals that could expose us to operational or regulatory risks; the effect of rapid market or technological changes on us and the users of our technology; issues related to the development and use of artificial intelligence; our dependence on third-party suppliers for key products and services; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; the occurrence of design defects, errors, failures or delays with our platforms, products or services; our vulnerability to malicious cyber-attacks and attempted cybersecurity breaches; our actual or perceived failure to comply with privacy and data protection laws; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our use of open-source software; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our dependence on our management team and our ability to attract and retain talent; limitations on our flexibility because we operate in a highly regulated industry; the increasing government regulation of us and our clients; risks related to the divergence of U.K. and European Union legal and regulatory requirements following the U.K.’s exit from the European Union; our exposure to costs and penalties related to our extensive regulation; our risks of litigation and securities laws liability; our tax filing positions; the effects of climate change or other sustainability risks that could affect our operations or reputation; our future capital needs and our ability to obtain capital when needed; limitations on our operating flexibility contained in our credit agreement; our exposure to financial institutions by holding cash in excess of federally insured limits; and other factors. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these and other factors affecting MarketAxess’ business and prospects is contained in MarketAxess’ periodic filings with the Securities and Exchange Commission and can be accessed at www.marketaxess.com.

About MarketAxess

MarketAxess (Nasdaq: MKTX) operates a leading electronic trading platform that delivers greater trading efficiency, a diversified pool of liquidity and significant cost savings to institutional investors and broker-dealers across the global fixed-income markets. Approximately 2,100 firms leverage MarketAxess’ patented technology to efficiently trade fixed-income securities. Our automated and algorithmic trading solutions, combined with our integrated and actionable data offerings, help our clients make faster, better-informed decisions on when and how to trade on our platform. MarketAxess’ award-winning Open Trading® marketplace is widely regarded as the preferred all-to-all trading solution in the global credit markets. Founded in 2000, MarketAxess connects a robust network of market participants through an advanced full trading lifecycle solution that includes automated trading solutions, intelligent data and index products and a range of post-trade services. Learn more at www.marketaxess.com and on X @MarketAxess.

Table 2: Trading Volume Detail

Month Ended December 31,

In millions (unaudited)

2025

2024

% Change

Volume

ADV

Volume

ADV

Volume

ADV

Credit

High-grade

$

132,950

$

6,043

$

124,334

$

5,921

7

%

2

%

High-yield

30,610

1,391

25,598

1,219

20

14

Emerging markets

77,319

3,515

60,240

2,869

28

23

Eurobonds

42,062

2,003

32,380

1,619

30

24

Other credit

13,067

594

13,800

657

(5

)

(10

)

Total credit trading1

296,008

13,546

256,352

12,285

15

10

Rates

U.S. government bonds2

426,932

19,406

393,430

18,735

9

4

Agency and other government bonds1

13,087

620

20,414

1,017

(36

)

(39

)

Total rates trading

440,019

20,026

413,844

19,752

6

1

Total trading

$

736,027

$

33,572

$

670,196

$

32,037

10

5

Number of U.S. Trading Days3

22

21

Number of U.K. Trading Days4

21

20

Quarter Ended December 31,

In millions (unaudited)

2025

2024

% Change

Volume

ADV

Volume

ADV

Volume

ADV

Credit

High-grade

$

424,563

$

6,848

$

400,129

$

6,454

6

%

6

%

High-yield

95,650

1,543

83,373

1,345

15

15

Emerging markets

247,140

3,986

214,439

3,459

15

15

Eurobonds

154,061

2,407

128,064

2,001

20

20

Other credit

37,086

597

38,698

624

(4

)

(4

)

Total credit trading1

958,500

15,381

864,703

13,883

11

11

Rates

U.S. government bonds2

1,352,808

21,819

1,608,995

25,952

(16

)

(16

)

Agency and other government bonds1

43,787

686

76,221

1,195

(43

)

(43

)

Total rates trading

1,396,595

22,505

1,685,216

27,147

(17

)

(17

)

Total trading

$

2,355,095

$

37,886

$

2,549,919

$

41,030

(8

)

(8

)

Number of U.S. Trading Days3

62

62

Number of U.K. Trading Days4

64

64

Year-to-Date Ended December 31,

In millions (unaudited)

2025

2024

% Change

Volume

ADV

Volume

ADV

Volume

ADV

Credit

High-grade

$

1,786,664

$

7,175

$

1,711,275

$

6,845

4

%

5

%

High-yield

376,772

1,513

334,761

1,339

13

13

Emerging markets

979,903

3,935

859,412

3,438

14

14

Eurobonds

605,623

2,403

508,093

2,008

19

20

Other credit

153,869

617

135,975

543

13

14

Total credit trading1

3,902,831

15,643

3,549,516

14,173

10

10

Rates

U.S. government bonds2

6,322,098

25,390

5,511,045

22,044

15

15

Agency and other government bonds1

272,951

1,084

227,614

902

20

20

Total rates trading

6,595,049

26,474

5,738,659

22,946

15

15

Total trading

$

10,497,880

$

42,117

$

9,288,175

$

37,119

13

13

Number of U.S. Trading Days3

249

250

Number of U.K. Trading Days4

252

253

More News From MarketAxess Holdings Inc.

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January 07, 2026 06:30 ET  | Source: Comstock Inc.

VIRGINIA CITY, Nev., Jan. 07, 2026 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Comstock Metals LLC (“Comstock Metals”), a leader in the responsible recycling of end-of-life solar panels with the only certified, north American, zero-landfill solution, announced today that it has received its Air Quality Permit from the Nevada Division of Environmental Protection – Bureau of Air Pollution Control (NDEP-BAPC), for the processing of waste solar panels and photovoltaics for its industry-scale materials recovery facility located in Silver Springs, NV. This timely approval keeps our scale-up plans for commissioning our first industry-scale facility in Silver Springs, NV, right on schedule.

This Air Quality Permit follows the recently received notification of eligibility for a Written Determination Permit from the Nevada Division of Environmental Protection – Bureau of Sustainable Materials Management (NDEP-BSMM), also now through the public notice period. Once the Written Determination Permit is final, which is expected shortly, these two major permits represent the complete scope of required regulatory approvals for commissioning the scale up of a facility designed for processing more than 3 million panels per year from one, continuous production line, representing up to 100,000 tons per year of waste materials being processed. This facility integrates technologies for efficiently processing, conditioning, extracting, and recycling metal concentrates from photovoltaics. The Company previously reported that the equipment for the plant was ordered, and fabrication is also proceeding as planned with deliveries already occurring in late December with remaining equipment expected throughout the month of January, so that we can begin installation, testing, and commissioning of the industry-scale facility, still scheduled to be completed during the first quarter of 2026. The process for both Air and BSMM permits has proceeded essentially as planned, since last Spring, when the final forms for both permits were submitted.

“We commend BAPC for its collaborative leadership in issuing the first major Air Quality Permit for solar panel recycling, enabling the expansion of Nevada’s only zero-landfill, end-of-life solar solution,” said Dr. Fortunato Villamagna, President of Comstock Metals. “This effort keeps critical materials out of landfills and eliminates the need to offshore the problem. We are thankful for our strong regulatory partnerships right here in Nevada and the ongoing community support for protecting our land, water, and public health from these potential heavy-metal contaminations.”

Many of the older U.S. solar panels in service have been deployed in the southwestern U.S., primarily California, Arizona, and Nevada, with decommissioning of these solar panels occurring now, accelerating supply and increasing the demand for environmentally responsible end-of-life solutions, negating potential legacy liability faced by our customers should the panels not be 100% recycled. Comstock has positioned itself to ensure the safe deconstruction and productive reuse of these important materials. Establishing our platform in Nevada establishes the leading solar recycling position over more than half the U.S. market for end-of-life panels and establishes a platform for rapid expansion across the rest of the United States.

“We have built both technological and market leadership in this rapidly expanding end-of-life supply chain,” said Corrado De Gasperis, Executive Chairman and CEO of Comstock. “Our metals team is operationalizing the site and storage authorizations so we can scale our platform and address this growing environmental challenge, especially in an environment where these critical and precious metals are in such strong demand. We are creating a platform for rapid, nationwide expansion.”

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
[email protected]

For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
[email protected]

Forward-Looking Statements 

This press release and any related calls or discussions may include 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. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; divestitures, spin-offs or similar distribution transactions, future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, divestitures, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

LONDON & NEW YORK--(BUSINESS WIRE)--Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation, today announced that the U.S. Food and Drug Administration (FDA) has accepted its Investigational New Drug (IND) application for COMP360, enabling the initiation of a late-stage clinical trial in patients with PTSD. Compass management, along with KOL and industry leaders, will host a webinar today to discuss the company’s clinical trial plans for PTSD, as well as commercial preparations for treatment-resistant depression (TRD) from 10:00-11:30 am ET on January 7th.

We believe COMP360 has the potential to transform the treatment landscape for PTSD and bring hope to those who need it most.

Share “PTSD is one of the most challenging mental health conditions, with approximately 13 million adults in the U.S. living with persistent symptoms and limited treatment options,” said Dr. Guy Goodwin, Chief Medical Officer at Compass Pathways. “We are pleased to advance our clinical development - the unmet need is profound, and it demands bold innovation. We believe COMP360 has the potential to transform the treatment landscape for PTSD and bring hope to those who need it most.”

“We enter 2026 with excitement and strong momentum, driving innovation to address critical needs in both PTSD and TRD,” said Kabir Nath, Chief Executive Officer at Compass Pathways. “As our commercialization plans advance, our focus is on ensuring seamless access to COMP360 for patients living with TRD, if approved. We look forward to continuing our close collaboration with the FDA and remain committed to generating robust clinical evidence with scientific rigor as we move into this next chapter.”

Late-Stage Clinical Trial for PTSD

U.S FDA has accepted IND application for COMP360 in PTSD, enabling the initiation of a Phase 2b/3 (COMP202) clinical trial in patients living with PTSD. The phase 2b/3 multicenter, randomized, double-blind, controlled study, with an open label extension, aims to investigate the efficacy, safety, and tolerability of COMP360 in participants with PTSD. The study is comprised of 2 parts: Part A (blinded) is a 12-week fixed repeat-dose, double-blinded, controlled part to confirm the efficacy of two administrations of COMP360 25 mg versus two administrations of COMP360 1 mg. The second COMP360 administration session will occur approximately 4 weeks later. The primary efficacy endpoint is the change from baseline in CAPS-5 total severity score at Week 8. Part B (open-label) is a 40-week open-label follow-up to evaluate the long-term safety and efficacy of treatment in Part A. Eligible participants will receive a single open label retreatment with COMP360 25 mg. In both Part A and Part B, COMP360 may be administered adjunctively to a single permitted oral antidepressant. Previous Phase 2 open-label, safety and tolerability study in PTSD showed COMP360 was generally safe and well-tolerated and demonstrated both rapid and durable improvement in symptoms from baseline observed following a single administration out to 12 weeks. The results of this study were published in the September 2025 issue of the Journal of Psychopharmacology. Commercialization Readiness in TRD

Compass’ strategic collaborations continue to yield valuable learnings about how COMP360 psilocybin treatment will seamlessly integrate into various healthcare settings. Compass recently added Radial, a national network of clinics delivering interventional, evidence-based treatments for mental health conditions, as its seventh collaboration Positive Type B meeting with the FDA in September 2025 to discuss the Company’s NDA submission strategy for COMP360 in TRD and potential acceleration scenarios, including rolling submission. To facilitate rolling submission and review, Compass is disclosing second phase 3 trial (COMP006) 9-week (Part A) data together with 6-week (Part A) and 26-week (Part B) of COMP005 in the second half of Q1 2026 26-week (Part B) data from COMP006 is expected in early Q3 2026 Financial Updates

Compass amended its existing term loan facility with Hercules Capital, Inc. (NYSE: HTGC), increasing the overall size to up to $150 million, of which $50 million have been drawn down under the amended loan facility as of closing. The remainder is available subject to meeting certain conditions specified in the Loan Agreement. The amendment extends the interest-only period from January 2, 2026 until at least January 5, 2029, with further extensions subject to the achievement of specified milestones, and extends the maturity date from July 1, 2027 to January 5, 2031 This transaction provides further flexibility to the balance sheet and continues to maintain cash into 2027 January 7th PTSD & TRD Webinar - 10:00 am – 11:30 am ET

Webinar Overview:

The discussion will feature perspectives from KOLs, industry leaders, and Compass management on the treatment landscape and unmet needs in TRD and PTSD, patient care pathways, growing interventional psychiatry infrastructure, and evolving treatment models Compass management team will also cover commercial readiness activities, the emerging profile of COMP360 in TRD, and plans for the late-stage PTSD program Speakers include:

Gary Small, MD, Director of Behavioral Health Therapies, Hackensack Meridian Health Geoffery Grammer, MD, CMO at Greenbrook Mental Wellness Centers Myriam Barthes, co-founder and CEO at Journey Clinical Dimitri Cavathas, CEO at HealthPort Access:

A live audio webcast of this event will be accessible at this link: https://lifescievents.com/event/q0v8tp3/. A replay of the webcast will be accessible for 30 days following the event. About Post-Traumatic Stress Disorder (PTSD)

Post-Traumatic Stress Disorder (PTSD) is a serious mental health condition that can develop after exposure to traumatic events such as personal assault, combat, natural disasters, or serious accidents. Characterized by symptoms such as intrusive memories, avoidance behaviors, negative shifts in mood and cognition, and heightened arousal, PTSD affects approximately five percent of adults in the U.S. annually. Symptoms may appear within months of the trauma or be delayed, and they must persist for over a month and interfere with daily functioning to meet diagnostic criteria.

PTSD can impact anyone, though certain populations—including veterans, first responders, and survivors of abuse—are at elevated risk. Individuals living with PTSD frequently experience comorbid mental health conditions, most commonly, depression, anxiety disorders, substance use disorders, as well as a significantly increased risk of suicide. These overlapping conditions can intensify distress and complicate treatment.

Affecting 13 million people in the U.S. each year, PTSD remains an underserved condition. There are currently only two FDA-approved medications for PTSD. This limited pharmacological landscape underscores the urgent need to advance care for patients experiencing this debilitating condition.

About treatment resistant depression (TRD)

Depression, one of the most common mental health disorders, significantly impacts relationships, work performance, overall quality of life, and is associated with an increased risk of suicide. Major depressive disorder (MDD) has been ranked as the third cause of the burden of disease worldwide in 2008 by the World Health Organization (WHO), which has projected that this disease will rank first by 2030.

It is estimated that approximately 4 million patients in the U.S. with MDD live with TRD1. TRD is broadly defined as an inadequate response to two or more appropriate courses of approved medications. TRD has a significantly greater impact on individuals compared to MDD, leading to residual symptoms, poorer quality of life, increased comorbidities, higher mortality, and an increased risk of suicide compared to non-treatment resistant MDD.

About Compass Pathways

Compass Pathways plc (Nasdaq: CMPS) is a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health. We are motivated by the need to find better ways to help and empower people with serious mental health conditions who are not helped by existing treatments. We are pioneering a new paradigm for treating mental health conditions focused on rapid and durable responses through the development of our investigational COMP360 synthetic psilocybin treatment, potentially a first in class treatment. COMP360 has Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) and has received Innovative Licensing and Access Pathway (ILAP) designation in the UK for treatment-resistant depression (TRD).

Compass is headquartered in London, UK, with offices in New York in the U.S. We envision a world where mental health means not just the absence of illness but the ability to thrive.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. In some cases, forward-looking statements can be identified by terminology such as “may”, “might”, “will”, “could”, “would”, “should”, “expect”, “intend”, “plan”, “objective”, “anticipate”, “believe”, “contemplate”, “estimate”, “predict”, “potential”, “continue” and “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements include express or implied statements relating to, among other things, statements regarding our expectations regarding our financial guidance; our expectations regarding the anticipated benefits of the amended term loan facility, our ability to achieve specified milestones under the amended term loan facility, the availability of unfunded tranches in the future, our business strategy and goals; our expectations and projections about the company’s future cash needs and financial results; our plans and expectations regarding our clinical trials, including our phase 3 trials in TRD and our planned phase 2b/3 trial in PTSD, our expectations regarding the time periods for the release of data from the COMP005 and COMP006 Phase 3 trials for TRD; our expectations regarding discussions with the FDA, including discussions regarding potential NDA acceleration strategies, including potential for rolling NDA submission for COMP360 psilocybin treatment in TRD; our expectations regarding potential commercial launch timelines; the potential for the pivotal phase 3 program in TRD to support regulatory filings and approvals on an accelerated basis or at all; our expectations regarding the safety or efficacy of our investigational COMP360 psilocybin treatment, including as a treatment for treatment of TRD or PTSD; our ability to obtain regulatory approval and adequate coverage and reimbursement; our ability to transition from a clinical-stage to a commercial-stage organization and effectively launch a commercial product, if regulatory approval is obtained, on an accelerated timeline or at all; and our expectations regarding the benefits of our investigational COMP360 psilocybin treatment. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Compass’s control and which could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements.

These risks, uncertainties, and other factors include, among others: uncertainties associated with risks related to clinical development which is a lengthy and expensive process with uncertain outcomes, and therefore our clinical trials may be delayed or terminated and may be more costly than expected; the results of early-stage clinical trials of our investigational COMP360 psilocybin treatment may not be predictive of the results of later stage clinical trials; our need for substantial additional funding to achieve our business goals and if we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our clinical trials; we may be unable to borrow any future tranches under the amended term loan facility as the availability of future tranches is dependent, in part, on achievement of certain milestones, the approval of the lender, and other factors; we may be unable to comply with the covenants and other obligations under the amended term loan facility; our acceleration strategies for our NDA submission may not be successful; FDA may ultimately disagree with our proposal for a rolling NDA submission and may not permit us to utilize the rolling review process; our efforts to obtain marketing approval from FDA or regulatory authorities in any other jurisdiction for our investigational COMP360 psilocybin treatment may be unsuccessful; our efforts to commercialize and obtain coverage and reimbursement for our investigational COMP360 psilocybin treatment, if approved, may be unsuccessful; the risk that our strategic collaborations will not continue or will not be successful; and our ability to retain key personnel; and those risks and uncertainties described under the heading “Risk Factors” in Compass’s most recent annual report on Form 10-K or quarterly report on Form 10-Q, the prospectus supplement related to the proposed public offering we plan to file and in other reports we have filed with the U.S. Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. Except as required by law, Compass disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Compass’s current expectations and speak only as of the date hereof.

1. Data on file