这是美国流行文化有史以来最糟糕的时代吗？ 最近，《大西洋月刊》（The Atlantic）旗下撰稿人Spencer Kornhaber写了一篇文章来论述这个命题，引发了不少音乐行业从业者关注。 这位记者采访了美国知名音乐历史学者Ted Gioia，后者直言不讳地指出，当代文化创作已陷入创造力枯竭的困境，艺术与娱乐的整体质感正在肉眼可见地 滑坡，其影响甚至辐射至一个国家的社会情绪与政治稳定。 尤其是音乐行业，愈来愈多的观察者质疑，音乐越来越不像一项艺术创作，更像一项由资本驱动的资产管理。甚至认为，大批私募公司的涌入，让经典曲 库不断侵蚀新作品的曝光与流通空间，令音乐生态逐渐趋于封闭与保守。 那么，在收听人群愈加全球化、创作环境空前开放的背景下，这种"经典老歌压倒新音乐"的论调真的成立吗？私募公司是否真正搅乱了音乐行业的市场？ 音乐行业的"衰落论" 近几年，音乐市场的"衰落叙事"已经成为美国顶级文学刊物中的敏感话题。 2023年，《纽约时报》一篇报道宣称，我们正处于自印刷术发明以来，文化上最缺乏创新、最缺乏变革、最缺乏开拓精神的世纪。 最近，数据分析公司YouGov的民意调查显示，美国人认为2020年代是一个世纪 ...

Core Insights - Nutanix has appointed Eric K. Brandt to its board of directors, effective May 15, 2025, bringing extensive leadership and finance experience [2][3] - David Humphrey has resigned from Nutanix's board, effective the same date, after serving since Bain Capital's $750 million investment in September 2020 [4][5] Company Leadership Changes - Eric K. Brandt has over 30 years of global experience in finance, operations, and corporate governance, having served as CFO of Broadcom and held senior roles at Avanir Pharmaceuticals and Allergan [3] - Virginia Gambale, Chair of the Board, expressed confidence that Brandt's expertise will benefit Nutanix as it focuses on sustainable growth and customer service [3] - David Humphrey's resignation was acknowledged positively, highlighting his contributions during a transformative period for Nutanix [5] Company Performance and Strategy - Since Bain Capital's investment, Nutanix has significantly grown and evolved into a leader in hybrid multicloud computing, enhancing its profits and cash flows [5] - The company aims to provide a single platform for running applications and managing data, simplifying operations for organizations [6]

Financial Data and Key Metrics Changes - Adjusted operating income increased by 14% year over year, demonstrating continued execution of strategic initiatives [7][22] - First quarter adjusted operating income available to common stockholders was $280 million, or $1.60 per diluted share [23] - Net loss available to common shareholders was $756 million, or $4.41 per diluted share, primarily due to negative movements in market risk benefits [23][24] Business Line Data and Key Metrics Changes - Group Protection business saw a 26% year-over-year increase in earnings and 120 basis points of margin expansion [10][24] - Annuities reported operating income of $290 million, consistent with the prior year quarter, with total sales of $3.8 billion increasing 33% year over year [11][29] - Life insurance segment reported an operating loss of $16 million, an improvement from a loss of $35 million in the prior year quarter [33] Market Data and Key Metrics Changes - Total deposits in Retirement Plan Services increased by 8%, driven by growth in recurring deposits [20][32] - Group sales grew 9% year over year, with all market segments contributing to this result [16] - Annuity account balances net of reinsurance ended the quarter 5% above the prior year period [29] Company Strategy and Development Direction - The company is focusing on diversifying its business mix and enhancing operational efficiency to manage through market turbulence [6][10] - A long-term partnership with Bain Capital is expected to enhance growth in spread-based products and improve capital deployment [9][39] - The strategic emphasis on growing group business has increased its contribution to operating earnings from less than 10% pre-COVID to over 25% today [45] Management's Comments on Operating Environment and Future Outlook - Management acknowledged high market volatility and an uncertain external backdrop but expressed confidence in the company's resilience and strategic positioning [5][6] - The company is well-prepared to navigate potential economic downturns, maintaining a capital buffer above its 400% target [7][44] - Management remains focused on disciplined execution and advancing strategic priorities to deliver long-term shareholder value [21][46] Other Important Information - The alternative investments portfolio delivered a 7.6% annualized return in the quarter, though it was below the target [23][38] - The company ended the quarter with an estimated RBC ratio well above 420%, consistent with its strategy [37] Q&A Session Summary Question: Insights on Bain partnership and expected free cash flow improvement - Management indicated that the improvement in free cash flow per share is driven by capital deployment into growth areas, not share repurchases [48] Question: Favorability of mortality in the life business - Management noted that mortality was favorable relative to expectations, with first quarter typically being seasonally higher [50] Question: Rationale for issuing new equity to Bain instead of open market purchase - Management emphasized the importance of alignment and the ability to utilize capital for growth, which would not be feasible through open market purchases [56][58] Question: Impact of large plan termination on Retirement Plan Services - Management confirmed that a large case termination affected net outflows but noted that excluding this, flows were positive [78] Question: Update on expense initiatives and their impact - Management confirmed that expense reductions are emerging from operational efficiencies and that reinvestments are being made in growth areas [83]

Financial Data and Key Metrics Changes - Adjusted operating income increased by 14% year over year, demonstrating continued execution of strategic initiatives [6][10] - First quarter adjusted operating income available to common stockholders was $280 million, or $1.60 per diluted share [24] - Net loss available to common shareholders was $756 million, or $4.41 per diluted share, primarily due to negative movements in market risk benefits [25][26] Business Line Data and Key Metrics Changes - Group Protection business saw a 26% year-over-year increase in earnings and 120 basis points of margin expansion [10][16] - Annuities reported first quarter operating income of $290 million, consistent with the prior year quarter [30] - Life insurance segment reported a first quarter operating loss of $16 million, an improvement from a loss of $35 million in the prior year [34] Market Data and Key Metrics Changes - Total deposits in Retirement Plan Services grew by 8%, driven by a 13% increase in recurring deposits [33] - Group sales grew by 9% year over year, with all market segments contributing to this result [17] - Annuities total sales reached $3.8 billion, a 33% increase from the prior year quarter [11] Company Strategy and Development Direction - The company is focusing on diversifying its business mix and enhancing operational efficiency to manage market volatility [5][10] - A long-term partnership with Bain Capital is expected to enhance growth in spread-based products and improve capital deployment [9][40] - The strategic emphasis on growing group business has increased its contribution to operating earnings from less than 10% pre-COVID to over 25% today [46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged high market volatility and an uncertain external backdrop but expressed confidence in the company's resilience and strategic positioning [4][10] - The company is well-prepared to navigate potential economic downturns due to proactive capital management and diversified earnings sources [38][46] - Management remains focused on disciplined execution and believes current actions will lead to sustainable long-term value [47] Other Important Information - The company maintains an estimated RBC ratio well above 420%, providing a buffer against adverse economic conditions [7][38] - The alternative investments portfolio delivered a 7.6% annualized return in the quarter, though it was below the target [25][39] Q&A Session Summary Question: Insights on the Bain partnership and expected free cash flow improvements - Management indicated that the capital from Bain will be deployed to grow spread-based earnings and optimize the legacy LifeBlock, with no immediate plans for share repurchases [49] Question: Favorability of mortality in the life business - Management noted that mortality was better than expected, with first quarter typically being seasonally higher [50][51] Question: Rationale for issuing new equity to Bain instead of open market purchases - Management emphasized the importance of alignment with Bain and the ability to utilize capital for growth, which would not be feasible through open market purchases [56][59] Question: Annuity business ROA trends - Management acknowledged that the decline in ROA is due to a shift in business mix, with a focus on growing RILA and fixed annuities [64] Question: RBC ratio sensitivity to macro volatility - Management clarified that the RBC ratio remains stable and is not materially affected by recent market conditions [69] Question: Impact of large plan termination on Retirement Plan Services - Management confirmed that a large case termination affected net outflows but overall flows were positive excluding this event [80]

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds persons or entities that (1) sold or otherwise disposed of the publicly-traded common stock of Cerevel Therapeutics Holdings, Inc. (NASDAQ: CERE) during the period from October 11, 2023 through August 1, 2024, inclusive (the “Class Period”); (2) held shares of Cerevel as of the January 8, 2024 record date and were entitled to vote on the merger of Cerevel and AbbVie Inc.; and/or (3) sold shares of Cer ...

Core Viewpoint - Hillenbrand, Inc. reported a decline in financial performance for the fiscal second quarter of 2025, primarily due to lower capital equipment volume and increased macroeconomic uncertainty, leading to an adjusted outlook for the remainder of the fiscal year [2][3][7]. Financial Performance Summary - Net revenue for the second quarter was $715.9 million, a decrease of 9% from $785.3 million in the prior year, mainly due to lower capital equipment volume [3][7]. - GAAP net loss attributable to Hillenbrand was $40.9 million, or $(0.58) per share, compared to a profit of $6.1 million, or $0.09 per share, in the prior year [4][7]. - Adjusted EBITDA was $98.8 million, down 19% from $122.6 million year-over-year, primarily due to lower volume and cost inflation [5][7]. - Adjusted diluted EPS was $0.60, a decrease of 21% compared to $0.76 in the prior year [5][7]. Segment Performance - Advanced Process Solutions (APS) segment net revenue was $494 million, down 12% from $559.2 million, primarily due to lower capital equipment volume [6][8]. - Molding Technology Solutions (MTS) segment net revenue was $221.9 million, a decrease of 2% from $226.1 million, driven by unfavorable foreign currency exchange rates [10][11]. Backlog and Future Outlook - Total backlog decreased by 15% year-over-year to $1.59 billion, primarily due to lower order intake, although it increased by 1% sequentially [9][12]. - The company updated its fiscal 2025 guidance, expecting total revenue between $2.555 billion and $2.620 billion, reflecting a year-over-year decline of 20% to 18% [17][18]. Cash Flow and Capital Allocation - Cash flow from operating activities was $1.3 million, a decrease of 59% from $3.2 million in the prior year [3][13]. - As of March 31, 2025, net debt was $1.46 billion, with a net debt to pro forma adjusted EBITDA ratio of 3.4x [14][38]. Recent Transactions - The company completed the sale of a majority stake in the Milacron injection molding and extrusion business on March 31, 2025, generating net proceeds of approximately $265 million, which were used for debt reduction [7][16]. - Hillenbrand entered into an agreement to sell the TerraSource business to Astec Industries for $245 million, expected to close in late fiscal third quarter or early fiscal fourth quarter 2025 [15].

Core Viewpoint - Rosen Law Firm is reminding investors who sold or held shares of Cerevel Therapeutics Holdings, Inc. during a specified period about their potential entitlement to compensation through a class action lawsuit [1][2]. Group 1: Class Action Details - The class period for the lawsuit is from October 11, 2023, to August 1, 2024, and includes those who held shares as of January 8, 2024, and those who sold shares around Bain Capital's purchase on October 16, 2023 [1]. - Investors may join the class action without incurring out-of-pocket fees through a contingency fee arrangement [2]. - A lead plaintiff must be appointed by June 3, 2025, to represent other class members in the litigation [3]. Group 2: Case Allegations - The lawsuit alleges that during the class period, Cerevel's controlling shareholders, Bain Capital and Pfizer, made misleading statements related to a secondary stock offering on October 16, 2023, and a proxy statement on January 18, 2024 [5]. - The secondary stock offering allowed Bain Capital to increase its stake in Cerevel at a discounted price before AbbVie Inc.'s acquisition announcement, which was made 51 days later at $45 per share, nearly double the offering price [5]. - Bain Capital's discounted purchases from the offering resulted in a windfall exceeding $120 million when the acquisition details became public, leading to investor damages [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4]. - Many attorneys at the firm have received recognition from Lawdragon and Super Lawyers, emphasizing their expertise in this area [4].

Core Viewpoint - Hillenbrand, Inc. has completed the sale of its majority interest in the Milacron injection molding and extrusion business to Bain Capital for $287 million, aligning with its strategy to enhance margins by focusing on higher growth opportunities [1][4]. Group 1: Sale Details - The Milacron business was acquired by Hillenbrand in 2019 and contributed $526 million in revenues and $64 million in adjusted EBITDA in fiscal 2024 [2][3]. - Following the sale, Bain Capital owns approximately 51% of Milacron and has full operational control, while Hillenbrand retains a 49% stake [4]. Group 2: Financial Implications - Hillenbrand plans to use the net proceeds of approximately $250 million from the sale to repay its debt [4]. - The fiscal 2025 revenue outlook for Hillenbrand's remaining businesses has been updated to a range of $2.625 - $2.790 billion, down from the previous estimate of $2.925 - $3.090 billion [5]. - Total adjusted EBITDA is expected to be between $411 million and $447 million, with adjusted earnings per share anticipated in the range of $2.45 - $2.80 [6]. Group 3: Stock Performance - Hillenbrand's stock has experienced a significant decline, losing 50.5% over the past year, compared to an 11.4% decline in the industry [7].

Core Viewpoint - Hillenbrand, Inc. has completed the sale of its majority interest in the Milacron injection molding and extrusion business to Bain Capital for $287 million, retaining a 49% ownership stake [1][2][3] Group 1: Transaction Details - Bain Capital now holds approximately 51% of Milacron and has full operational control, while Hillenbrand retains a 49% stake [2] - The transaction is expected to yield after-tax net proceeds of approximately $250 million for Hillenbrand, which will be used to pay down debt [4] Group 2: Strategic Implications - This sale reflects Hillenbrand's ongoing transformation into a pure-play industrial company, allowing it to focus on core process and automation equipment for food, pharmaceutical, and polymer markets [3] - The partnership with Bain Capital is anticipated to enhance Milacron's growth potential and operational success, leveraging Bain's resources and focus [4] Group 3: Historical Context - Hillenbrand acquired Milacron Holdings Corp. in 2019, which included Milacron's injection molding and extrusion business, along with Mold-Masters, DME, and Cimcool [3] - Hillenbrand previously sold the Cimcool business in 2020 and continues to own Mold-Masters and DME [3]

Financial Data and Key Metrics Changes - Consolidated revenue for the quarter was $700 million, down 9% year over year, but in line with expectations [10][19] - Adjusted earnings per share (EPS) was $0.56, down 19% year over year, consistent with expectations due to lower starting backlog [10][20] - Adjusted EBITDA was $97 million, a decrease of 15% year over year, with a consolidated adjusted EBITDA margin of 13.7%, down 110 basis points compared to the prior year [19][20] Business Line Data and Key Metrics Changes - Advanced Process Solutions (APS) revenue was $511 million, down 10% year over year, with adjusted EBITDA of $83 million, a decrease of 14% [21][22] - Molding Technology Solutions (MTS) revenue was $196 million, down 5% year over year, with adjusted EBITDA of $27 million, a decrease of 15% [23][24] - Backlog for APS was $1.6 billion, down 17% year over year, while MTS backlog increased 1% to $233 million [22][24] Market Data and Key Metrics Changes - North America and Europe markets remain sluggish, particularly in automotive, while Asia shows stability with growth in India [15][24] - Customer quote pipelines remain healthy, especially in India and Saudi Arabia, despite global macroeconomic uncertainty [12][36] Company Strategy and Development Direction - The company is focused on transforming its portfolio towards higher margin, higher growth, and less cyclical industrial leaders [6][8] - The sale of a 51% stake in Milacron for $287 million is part of this transformation, allowing the company to concentrate on core business and enhance shareholder value [6][26] - The company aims to maximize shareholder value by deleveraging and enhancing its margin profile [8][25] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth strategy despite ongoing macroeconomic pressures [17][31] - The company anticipates continued softness in North America and Europe in the near term, with expectations for improved performance as order decision timing normalizes [15][31] - Management remains optimistic about the potential for future returns from the Milacron business under Bain Capital's ownership [9][68] Other Important Information - The company expects to close the Milacron transaction by the end of the fiscal second quarter or early in the third quarter, with net proceeds used for debt pay down [26][27] - Updated fiscal year guidance reflects approximately $2.63 billion to $2.8 billion in revenue and adjusted EBITDA of $411 million to $447 million [28][29] Q&A Session Questions and Answers Question: What do customers need to see to move from quoting to placing orders? - Management indicated that geopolitical factors and clarity on interest rates are significant concerns for customers before making major investments [36] Question: What percentage of revenue does aftermarket represent and what is the outlook? - Aftermarket orders were close to 40% of total orders for the quarter, with expectations for continued improvement throughout the year [39][40] Question: What drove the decision to sell a majority stake in Milacron rather than a full divestiture? - The decision was based on a regular review of assets to determine the best return for shareholders, allowing Milacron to pursue growth opportunities while focusing on core businesses [54][55] Question: What are the expected EBITDA margins and free cash flow conversion capabilities post-divestiture? - Expected EBITDA margins for MTS are projected to be in the mid-20s, with a target of 100% free cash flow conversion in the medium term [58][73]