INDIANAPOLIS, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq: HURC) (“Hurco” or the “Company”) today announced that Executive Chairman Michael Doar will retire from his employment with the Company following Hurco’s 2026 Annual Meeting of Stockholders (the “2026 Annual Meeting”). Upon receipt of his retirement notice, the Company’s Board of Directors (the “Board”) requested that Mr. Doar continue service as a non-employee director of the Company and formally nominated him to stand for re-ele ...

Core Insights - The conference reflects a shift from a "China for China" narrative to a broader interest from international investors and companies in the Chinese market, indicating a significant change in dynamics [2][3][6] - The recent truce in trade relations between the U.S. and China has provided stability, allowing both sides to focus on transactional relationships and mutual interests [3][10] - Citi's strategy in China emphasizes growth and innovation, with a focus on serving international clients and supporting Chinese companies in their global expansion [6][10][14] Company Strategy - Citi has divested from its consumer banking business and retail wealth management, focusing instead on international clients and cross-border needs [5][13] - The firm is experiencing growth in headcount and productivity, countering narratives of pulling back from China [7][8][18] - Citi aims to leverage technological advancements to enhance client service and operational efficiency, with a notable increase in productivity in coding teams [16][18] Market Outlook - The Chinese economy is transitioning towards advanced manufacturing and innovation, with a significant portion of global robotic companies based in China [10] - New trade corridors are emerging, particularly between Asia and the Middle East, indicating a shift in global trade dynamics [12] - The wealth management sector is expected to grow significantly in Asia, with a focus on high-net-worth individuals and mid-market companies [15][21] Financial Health - Citi's balance sheet is described as pristine, with over 80% of corporate assets being investment grade, reflecting a strong financial position [30][31] - The firm is optimistic about the U.S. market outlook heading into 2026, despite concerns about inflation and potential economic challenges [27][29] - There are indications of frothiness in certain market segments, but core infrastructure investments are expected to yield productivity benefits [33][34]

Financial Data and Key Metrics Changes - Rockwell Automation reported a 14% year-over-year increase in sales for Q4, exceeding expectations, with organic sales growth of 13% driven by strong product business performance [5][26] - Adjusted EPS for Q4 was $3.34, above expectations, primarily due to revenue outperformance and favorable pricing [12][27] - Full-year adjusted EPS for fiscal 2025 was $10.53, reflecting a 7% increase compared to the previous year [32] Business Line Data and Key Metrics Changes - Intelligent Devices segment saw organic sales growth of 14% year-over-year, driven by power control business and successful acquisitions [7][8] - Software and Control segment experienced a significant 30% organic sales growth, with strong performance in the Logix business [9][28] - Lifecycle Services segment reported a 4% decline in organic sales, with a book-to-bill ratio of 0.9, consistent with historical Q4 seasonality [10][28] Market Data and Key Metrics Changes - North America was the best-performing region, with expectations to continue leading in fiscal 2026 [17][18] - E-commerce and warehouse automation sales grew over 70% year-over-year, highlighting strong demand in these sectors [13] - The automotive sector showed low double-digit growth, with a shift in focus from electric vehicles to a mix of traditional and hybrid vehicles [13] Company Strategy and Development Direction - The company is focused on cost reduction and margin expansion, with a target of achieving over 100 basis points margin improvement in fiscal 2026 [19][20] - Rockwell Automation plans to invest $2 billion over the next five years to modernize infrastructure and enhance digital capabilities, primarily benefiting the U.S. market [18] - The dissolution of the Sensia joint venture is expected to simplify operations and improve profitability in the oil and gas vertical [11][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to gain market share and expand margins despite uncertainties in the macroeconomic environment [19][20] - The company anticipates reported sales growth for fiscal 2026 to be in the range of 3%-7%, with a sequential sales decline expected in Q1 [19][20] - Management highlighted the importance of investing in advanced manufacturing capabilities as countries recognize their strategic significance [5][12] Other Important Information - Free cash flow for Q4 was $405 million, contributing to a full-year free cash flow conversion of 114% [26] - The company introduced a new engineering and development expense line to enhance visibility into innovation spending [22] - A one-time pre-tax charge of $136 million related to legacy asbestos exposure was recorded in Q4, impacting adjusted EPS [23] Q&A Session Summary Question: What was the postmortem on Sensia? - Management noted that the joint venture faced challenges due to its broad scope and the impact of COVID-19 on energy markets, leading to a decision to dissolve it for simplification and improved profitability [39][40] Question: Can you provide insight into Logix volumes relative to pre-COVID levels? - Logix unit volumes are expected to return to pre-COVID levels in fiscal 2026, with strong market growth anticipated [42][43] Question: What is the outlook for book-to-bill ratios moving forward? - The book-to-bill ratio is expected to remain around one, with gradual improvement anticipated as capital expenditure projects progress [45][46] Question: How does the company plan to achieve its margin targets? - Management emphasized ongoing cost reduction and productivity initiatives, with a focus on achieving a 40% incremental margin in fiscal 2026 [56][57] Question: What are the expectations for inflation and tariff impacts? - Inflation is expected to remain modest, with tariff-based pricing aimed at offsetting costs rather than expanding margins [57][59]

Financial Data and Key Metrics Changes - The company reported third quarter revenue of $866 million, up 29% year-over-year, with organic revenue growth of 12% excluding acquisitions [19][24] - Adjusted EBITDA was $151 million, reflecting a 19% increase year-over-year, driven by strong performance in commercial operations and a modest increase in government operations [19][24] - Adjusted earnings per share increased by 20% to $1, supported by strong operating performance [19] - Free cash flow for the quarter was $95 million, with an anticipated full-year free cash flow of approximately $285 million [21][22] Business Line Data and Key Metrics Changes - Government operations revenue increased by 10%, with adjusted EBITDA up 1%, driven by naval propulsion and special materials [23][24] - Commercial operations revenue grew by 122%, with organic revenue growth of 38%, primarily due to the Kinectrics acquisition and strong growth in commercial nuclear power and medical isotopes [14][24] - Adjusted EBITDA in commercial operations was $36 million, up 163%, resulting in an adjusted EBITDA margin of 14.2% [24] Market Data and Key Metrics Changes - The total backlog reached $7.4 billion, up 23% from the previous quarter and 119% year-over-year, driven by large multi-year national security contracts [5][6] - The company expects government operations revenue to grow mid-single digits organically in 2025, with commercial operations anticipated to grow approximately 60% compared to the previous year [24][30] Company Strategy and Development Direction - The company is focused on operational excellence and leveraging artificial intelligence and advanced manufacturing to improve productivity and margin performance [7][32] - Strategic investments include a $1.5 billion defense fuels contract and a $1.6 billion contract for high purity depleted uranium, both aimed at enhancing domestic uranium enrichment capabilities [11][12] - The company is expanding into advanced nuclear technologies and microreactors, with ongoing projects like Project PELE and collaborations for TRISO nuclear fuel production [9][10][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 from a position of financial strength, with expectations for record financial results and continued growth in both government and commercial sectors [6][31] - The company highlighted strong demand in nuclear solutions driven by decarbonization and electrification trends, positioning itself well for future opportunities [32] - Management acknowledged potential risks, including government shutdowns and timing of commercial nuclear opportunities, but remains optimistic about growth prospects [76][82] Other Important Information - The company is actively pursuing additional acquisitions that align with its strategic goals, having successfully integrated Kinectrics and AOT [122][124] - The company is also exploring localization opportunities for manufacturing in response to trends in commercial nuclear power [69] Q&A Session Summary Question: Did the company book any revenue on the two new contracts in the quarter? - The contribution from the new contracts was very modest, with seasonality affecting the fourth quarter due to timing of material procurements [36] Question: What is the approach for the Janus program? - The company intends to compete for the Janus program, typically not owning and operating reactors but finding the right partners for the opportunity [40] Question: What are the key takeaways from the Kinectrics acquisition? - Kinectrics is outperforming expectations, particularly in transmission and distribution, offshore wind cable testing, and licensing support for large reactor projects [44] Question: How does the revenue cadence roll out for the uranium enrichment and depleted uranium contracts? - Revenue will be distributed over the contract periods, with lower margins expected initially due to infrastructure investments [52][54] Question: What are the main risks to achieving the 2026 outlook? - Risks include potential delays in commercial nuclear opportunities and the impact of government shutdowns, but the company has good visibility into its revenue streams [76][82]

Group 1 - The core viewpoint of the article highlights a significant decline in the registration of private equity and venture capital fund managers, with only 4 new registrations in September 2025, a 20% decrease from August and a 71.4% decrease compared to September 2024 [1] - The total number of financing events in the domestic primary equity investment market reached 686, showing a year-on-year increase of 37.8% and a month-on-month increase of 21.4% [1] - The disclosed total financing amount was approximately 44.338 billion yuan, reflecting a 7.0% increase from September 2024 and a 26.0% increase from August 2025 [1] Group 2 - The article focuses on three active institutions in the market, analyzing their investment rhythm, stages, industry preferences, and invested projects [2] - Qiji Chuangtan, founded by Lu Qi in 2019, has supported over 250 startups and focuses on hard technology and biotechnology [3] - Qiji Chuangtan has only two venture capital funds since its establishment, with the second fund's registered capital increasing to 906 million yuan, a growth of 111.7% [3] Group 3 - Qiji Chuangtan emphasizes early-stage investments, with approximately 57.1% of its investments in angel rounds, and 14.3% each in A rounds and seed rounds [6] - The artificial intelligence sector accounts for 57.1% of Qiji Chuangtan's invested projects, with advanced manufacturing and smart hardware making up 28.6% and 14.3% respectively [8] - Over 40% of Qiji Chuangtan's invested projects are registered in Shanghai, with 28.6% in Shenzhen, reflecting a strategic alignment with the local tech ecosystems [10] Group 4 - Qiji Chuangtan has made a unique investment in Shuyuan Innovation, a smart robotics developer, to accelerate technology development and commercialization [12] - Shuyuan Innovation, established in February 2024, focuses on core technology innovation in robotics, aiming to enhance automation levels and application adaptability [12]

It's a critical period for China as it prepares for high stakes talks with the US next week. Ahead of those discussions, one of China's most important political meetings, the so-called fourth plenum took place over 4 days. It gave insight into what President Xi Jinping and his government are looking to prioritize while locked in the trade war with the US.Topping the agenda, China called for more self-reliance of technology and vow to increase advanced manufacturing. This could be a way to counter efforts by ...

Core Insights - The Orion Critical Mineral Consortium (CMC) has been established with an initial investment of $1.8 billion to enhance US economic competitiveness and national security [1][4] - The consortium aims to create a multibillion-dollar platform focused on critical minerals investments, targeting a total of $5 billion [2] - The initiative is supported by the US International Development Finance Corporation (DFC) and Abu Dhabi-based ADQ, emphasizing the strategic importance of securing critical minerals for the US [3][6] Investment Focus - Orion CMC will prioritize investments in existing or near-term producing assets rather than long-term exploration projects to meet the needs of the US and its allies [5] - The consortium will engage with mission-aligned investors and partner nations to secure critical minerals essential for the modern economy [4][5] Strategic Goals - The consortium aims to establish a robust pipeline of secure critical mineral investments to advance American economic prosperity and safeguard leadership in advanced technologies [3][6] - Orion CMC will act as a link between emerging market nations and global consumers, particularly in sectors like advanced manufacturing and AI [5][6] Operational Framework - The consortium will bring together metals and mining investors and operators to build a diversified portfolio of critical minerals assets across multiple jurisdictions [7] - The DFC has made an initial capital commitment to Orion CMC, which has been matched by funds from Orion and ADQ, solidifying the consortium's financial foundation [4][3]

Core Insights - Caterpillar Inc. is expanding its large engine facility in Lafayette, Indiana, with a $725 million investment to meet rising energy demands and enhance production capacity [2][4][5] - The company has committed $100 million over five years to workforce development, with $5 million allocated for training and upskilling in Indiana [1][3] - Caterpillar's expansion and workforce initiatives are part of a broader strategy to support the U.S. manufacturing sector and prepare workers for future job opportunities [3][4] Company Expansion - The $725 million capital expansion is one of the largest single manufacturing investments in Caterpillar's history, aimed at significantly increasing engine production [4] - The Cat® 3500 engine utilizes 5,500 parts sourced from over 500 U.S. suppliers across 33 states, highlighting the company's extensive supply chain [2] Workforce Development - Caterpillar's workforce pledge aims to stimulate interest in advanced manufacturing careers and equip U.S. workers with necessary skills for future job markets [1][3] - The company plans to announce additional workforce investments in other states, indicating a commitment to national workforce development [3] Energy Demand - The demand for energy is increasing, driven by sectors such as AI and data centers, necessitating reliable power solutions from Caterpillar's manufactured engines [5] - Caterpillar's products are integral to the U.S. infrastructure, with a significant increase in exports (75% since 2016) reflecting the company's role in global markets [5] Employment Impact - Caterpillar employs 51,000 people in the U.S., with over 4,100 workers at 12 facilities in Indiana, underscoring the company's significant local economic impact [6] Company Overview - Caterpillar Inc. reported sales and revenues of $64.8 billion in 2024, positioning itself as a leading manufacturer in construction and mining equipment, as well as energy solutions [7] - The company operates through three primary segments: Construction Industries, Resource Industries, and Energy & Transportation, along with a Financial Products segment [7]

Some pretty big news out of JP Morgan on Monday morning about how they plan to invest $10 billion as part of this decadel long initiative into areas they feel is necessary for national security as well as American economic resiliency. So what do they mean by that exactly. Well, they kind of break it into four key categories.The first is areas around supply chain and advanced manufacturing. They're also looking at defense and aerospace. Energy independence is the third bucket there.And then strategic technol ...

Core Insights - Hong Kong's status as a leading international financial center relies on its ability to adapt to the evolving needs of China's economy, as highlighted by Wang Lei, CEO of Huatai Financial Holdings [2][5]. Group 1: Financial Innovation and Historical Context - Hong Kong has historically introduced various financial innovations, such as red chips and H-shares, to cater to both foreign capital and the needs arising from mainland China's reforms [3]. - The city has established specific listing rules, including Chapters 18A and 18C, to facilitate the growth of specialized sectors [3][7]. Group 2: Current Trends and Opportunities - There is a notable increase in Chinese hi-tech and biotech start-ups pursuing listings in Hong Kong, driven by advancements in artificial intelligence and partnerships with global pharmaceutical companies [5][6]. - The Hong Kong stock exchange has implemented measures to expedite the IPO application process, reclaiming its position as the world's leading venue for initial public offerings [6]. Group 3: Regulatory Changes - In May, the Hong Kong stock exchange permitted confidential filings for biotech start-ups and high-growth firms in sectors like AI and robotics, aiming to attract more listings [7]. - Regulatory bodies have reduced the IPO review timeline for existing mainland-listed companies to 40 business days, enhancing the efficiency of the listing process [7].