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Election Results - Democrats achieved significant victories in key races across New York, New Jersey, and Virginia, with self-described democratic socialist Zohran Mamdani projected to become the next mayor of New York City, defeating former Governor Andrew Cuomo [2][4] - In New Jersey, Democrat Mikie Sherrill is projected to become the next governor, marking a critical moment for the GOP, which had made inroads in the state in 2024 [3] - Abigail Spanberger is projected to become the first female governor of Virginia, alongside Democratic nominee Jay Jones winning the attorney general race, despite not being the favorite [4] Corporate Earnings - McDonald's reported third-quarter revenue of $7.08 billion, a 3% increase year-over-year, but slightly below analysts' expectations of $7.1 billion [5] - Despite missing expectations, McDonald's shares rose approximately 1%, with same-store sales growing 3.6% globally and 2.4% in the U.S., indicating sustainable growth in a challenging environment [6] Layoffs and Employment Trends - A wave of layoffs is affecting major corporations, including IBM, Amazon, and Meta, raising concerns about the impact of AI on employment [7][8] - Job openings have reached their lowest level in over four years, with Indeed's Job Posting Index falling to 101.9 in October, the lowest since February 2021 [9] K-Pop Industry Impact - Netflix's "KPop Demon Hunters" has generated $10 billion for the K-pop music industry, significantly boosting shares of major K-pop companies like HYBE and JYP Entertainment, which have seen double-digit gains this year [11] - The film's popularity may also lead to increased consumption of Korean cosmetics and foods, with potential political ramifications in China [12]

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SouthernSun Asset Management, LLC, an investment management firm, released its “SouthernSun Small Cap Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third quarter, the strategy returned 11.73% on a gross basis (11.52% net) compared to a 12.39% return for the Russell 2000 Index and 12.60% for the Russell 2000 Value Index. The strategy returned -0.66% on a gross basis (-0.10% net) for the trailing twelve months compared to 10.76% and 7.88% respectively for th ...

Core Insights - Europe's largest Bitcoin mining firm, Northern Data Group (NDG), is selling its mining division, Peak Mining, for up to $200 million, marking a significant shift towards artificial intelligence (AI) [1][6] - The sale includes $50 million in upfront cash and up to $150 million in deferred payments based on profit-sharing from its Texas mining site [2] - NDG plans to repurpose its existing mining infrastructure for AI workloads, which are expected to be more profitable than Bitcoin mining [2][4] Industry Trends - The pivot from Bitcoin mining to AI reflects a broader trend in the crypto industry, where miners are adapting to the increasing demand for AI computing as Bitcoin mining profitability declines due to rising energy costs and market conditions [3][6] - AI workloads can generate ten times more revenue per megawatt compared to Bitcoin mining, making this transition crucial for financial sustainability [4] Financial Performance - NDG's AI and cloud revenue tripled in 2024, surpassing €200 million, with expectations of an additional €150 million from AI services in early 2025 [5] - The company's previous strategic moves include selling Texas data centers for $651 million in 2022 and acquiring GPU specialist Decentric for $429 million, enhancing its capabilities for AI [4] Competitive Landscape - NDG is not alone in this transition; competitors like Core Scientific, Hut8, and Iris Energy are also converting their mining operations into AI hosting facilities, indicating a significant shift in the industry [7] - Core Scientific secured a $3.5 billion deal for AI infrastructure, highlighting the competitive nature of the AI market [7] Strategic Implications - The $200 million exit from Bitcoin mining is viewed as a strategic investment in the burgeoning AI sector, positioning NDG to capitalize on the anticipated trillion-dollar AI boom [8]

The Singapore Air Force has announced that it has decided to replace the Hermes 450 unmanned aerial vehicles (UAVs), which it procured 20 years ago from Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT), with the newer model Hermes 900. The Singapore Air Force said, "Through robust and thorough evaluations, the H900 UAV was assessed to best meet the Singapore Air Force’s operational needs. Singapore joins a list of countries around the world that operate this advanced system ...

Core Insights - Stack Capital Group Inc. reported its financial results for Q3 2025, highlighting a strong capital position and ongoing investments in high-growth technology companies [1][2]. Financial Summary - Book Value per Share ("BVpS") was $14.26 as of September 30, 2025, down from $14.34 at June 30, 2025 [4]. - Total Book Value reached $188.7 million [4]. - The company raised $35 million through a private placement during the quarter [4]. Portfolio Company Highlights - Stack Capital made significant investments in technology companies, including: - OpenAI: Invested US$8.0 million, focusing on generative AI and enterprise AI deployment [3]. - Databricks: Invested US$2.1 million in a unified cloud-based platform for data and AI workloads [9]. - PsiQuantum: Invested US$0.5 million in developing a silicon photonic quantum computer [9]. - Valuation of SpaceX increased from US$350 billion to US$400 billion during the quarter [4]. - Canva's valuation rose from US$32 billion to US$42 billion [4]. Management Commentary - The CEO of Stack Capital noted a robust IPO environment and strong momentum in private markets, particularly in AI, defense, and robotics, indicating attractive investment opportunities [5]. Breakdown of Book Value per Share - The detailed breakdown of Book Value per Share as of September 30, 2025, includes: - CoreWeave, Inc. (AI hyper-scaler): $2.37 - SpaceX: $2.28 - Canva, Inc.: $1.30 - Other notable investments include Locus Robotics, Omio, Hopper, and OpenAI, contributing to the overall Book Value per Share of $14.26 [5][6].

Core Points - Electrovaya Inc. announced the pricing of its public offering of 4,700,000 common shares at a price of US$5.20 per share [1] - The company has granted underwriters a 30-day option to purchase an additional 705,000 common shares at the public offering price, excluding underwriting discounts and commissions [1] Company Overview - Electrovaya is a leading lithium-ion battery technology and manufacturing company [1] - The company is listed on both NASDAQ and TSX under the ticker symbols ELVA [1]

Core Insights - Cardiol Therapeutics is set to present full data from its Phase II ARCHER trial at the European Society of Cardiology meeting, focusing on the effects of CardiolRx™ in patients with acute myocarditis [2][5] - The trial demonstrated significant improvements in cardiac structure, including a notable reduction in left ventricular mass, indicating the potential of CardiolRx™ as an effective anti-inflammatory treatment for heart disease [3][4][6] Company Overview - Cardiol Therapeutics Inc. is a clinical-stage life sciences company specializing in late-stage anti-inflammatory and anti-fibrotic therapies for heart disease, with its lead drug candidate being CardiolRx™ [8] - The company is also developing CRD-38, a novel subcutaneously administered formulation aimed at treating heart failure, which is a leading cause of death and hospitalization globally [11] Trial Details - The ARCHER trial enrolled 109 patients from various countries, including the United States, France, Brazil, and Israel, to assess the safety and efficacy of CardiolRx™ in acute myocarditis [6] - The trial's design and rationale were previously published, emphasizing the importance of addressing inflammation in cardiac conditions [6] Upcoming Events - A webcast conference call is scheduled for December 1, 2025, to discuss the ARCHER trial findings and their implications for Cardiol's future programs in inflammatory heart disease [7]

Third Quarter 2025 Consumer Credit Trends Indicate Moderate Debt Growth for Auto and Student Loans ATLANTA, Nov. 5, 2025 /PRNewswire/ -- Equifax® (NYSE: EFX)Â has released its Market Pulse Third Quarter U.S. Consumer Credit Trends, which includes U.S. national consumer credit data and trends through September 2025 sourced from Equifax data. According to Equifax, delinquency on total U.S. consumer debt inched up to 1.562% in September, a slight increase from 1.517% at end of the second quarter in June 2025. ...