Core Viewpoint - Stifel analyst Steven Wieczynski maintains a Buy rating on Viking Holdings Ltd, lowering the price forecast from $52 to $50 due to concerns over early 2026 pricing trends and macroeconomic uncertainty [1]. Financial Performance - Viking reported first-quarter total revenue of $897.1 million, reflecting a 24.9% increase compared to the same period in 2024 [1]. - The company aims for mid-single-digit yield growth for 2026, although the outcome remains uncertain [2]. Booking and Demand Insights - Viking's current 2026 booking levels are approximately 37% of inventory sold, which is ahead of forecasts [3]. - The company is not heavily relying on promotions to drive demand, indicating a strong position due to a longer booking window and a large customer base [3]. - Viking's response to booking strength concerns was reassuring, clarifying that FY25 pricing appeared inflated compared to FY24 due to the absence of a lower-yielding world cruise [4]. Marketing and Growth Potential - Viking has the capacity to drive demand through marketing without significantly increasing SG&A as a percentage of revenue, thanks to its direct marketing model [5]. - The company is projected to achieve strong EBITDA growth of approximately 18% annually through 2027 [5]. Stock Performance - Viking shares are trading lower by 2.62% to $43.59 as of the latest check [5].

Canada Goose's revenue was up 7.4% from the same period last year. Net income attributable to shareholders for the fiscal fourth quarter ending March 30 was CA$27.1 million, or 28 Canadian cents per diluted share, compared with a net income attributable to shareholders of CA$5 million, or 5 Canadian cents per diluted share in the prior year period. As of Monday's close, shares had fallen nearly 14% year to date, hitting an all-time low last month after Barclay's analysts downgraded the stock and cut their p ...

Presentation to highlight Allocetra™ and the therapeutic potential of macrophage reprogramming in inflammatory diseases Ness-Ziona, Israel, May 20, 2025 (GLOBE NEWSWIRE) -- Enlivex Therapeutics Ltd. (Nasdaq: ENLV, the "Company"), a clinical-stage macrophage reprogramming immunotherapy company, today announced that the Company has been selected to present at the upcoming Israeli BioMed 2025 Conference, taking place May 21– 23, 2025 in Tel Aviv, Israel. The Company's presentation is titled "Enlivex—Harnessing ...

Financial Data and Key Metrics Changes - The company reported an increase in earnings and cash flow compared to Q1 2024, which was already a strong quarter [12] - Gross debt increased to just under $778 million due to financing of recently acquired vessels, while cash position stood at $428 million, with $90 million restricted [12][13] - The net debt to EBITDA ratio has improved to under 1, down from 8.4 times at the end of 2018, indicating significant deleveraging [14] Business Line Data and Key Metrics Changes - The company added 19 charters worth approximately $352 million in contracted revenues during Q1 2025, bringing total contracted revenues to nearly $1.9 billion with an average remaining contract cover of 2.3 years [9][10] - The company has maintained a disciplined approach to fleet renewal and capital allocation, focusing on maximizing optionality while covering CapEx obligations [10] Market Data and Key Metrics Changes - The container ship charter market remains exceptionally tight, with essentially zero idle capacity globally, despite normalization of headline freight rates [5] - The company noted that tariffs and trade barriers have complicated the macroeconomic picture, but demand for mid-sized and smaller container ships remains strong [5][6] Company Strategy and Development Direction - The company aims to maximize optionality to take advantage of the cyclical nature of the industry while ensuring long-term strength in any market conditions [7][8] - The strategy includes opportunistically monetizing older ships to build cash reserves for investment and fleet renewal [6][10] Management's Comments on Operating Environment and Future Outlook - Management highlighted the extraordinary volatility and uncertainty in the macro and geopolitical environment, focusing on financial resilience and maximizing optionality [33] - The company is well-positioned to pursue opportunities as they arise, particularly in renewing its fleet as older vessels age out [35] Other Important Information - The company has increased its annualized dividend to $2.1 per share, a 40% increase from the previous year [7] - The average cost of debt has been reduced to 3.99%, providing a strong financial position amid rising operating expenses [14][33] Q&A Session Summary Question: Interest from charter customers to extend existing charters at better rates - Management indicated that it depends on which charters are rolling off, with some fixed during high periods likely to be lower if re-fixed now, but overall appetite for attractive rates remains strong [40][41] Question: Acquisition front and asset prices - Management stated they are always looking at deals but maintain strict criteria for acquisitions, only pursuing financially sensible opportunities [43][44] Question: Charter market characterization over the past week - Management noted a similar change in sentiment in the charter market, with a brief slowdown in April followed by renewed interest and appetite in recent weeks [52][53] Question: Cash position and future plans - Management emphasized the importance of maintaining a robust cash position for flexibility and resilience, while continuing to deleverage and manage risks [56][57]

V i e w p o i n t | 15 May 2025 18:25:24 ET │ 22 pages Global Macro Strategy - Views and Trade Ideas Answering Questions Now CITI'S TAKE On Monday, our attitude to the tariff news was "trade first, ask questions later" when it came to our portfolio. The left tail of US growth risks has been trimmed, so we paid US rates and reduced USD shorts. Now it's time to answer those questions. Markets feel stuck in an information gap, waiting for flows, fiscal, and trade updates. Trade War Subplots — Recent developmen ...

Financial Data and Key Metrics Changes - The company reported a return on equity (ROE) of 20.3%, boosted by extraordinary gains from the acquisition of a joint venture stake, while the operating ROE was 18.4% [9][19] - Total assets contracted by 2% due to a revaluation of Bolivia's balance sheet [19][44] - Net interest income increased by 4.3%, driven by lower interest expenses and a growing share of low-cost deposits [21][44] Business Line Data and Key Metrics Changes - Loan growth was robust at 1.5%, primarily in wholesale banking, with expectations for retail segments to accelerate [20][11] - Non-performing loans (NPLs) ratio improved to 5.1%, with a cost of risk falling to 1.6% [20][46] - Fee income rose by 16%, supported by increased transactional activity [21][44] Market Data and Key Metrics Changes - Peru's GDP grew by 3.9% in Q1 2025, indicating a strong economic recovery [23][14] - Inflation remained low at 1.7%, supporting private consumption [24] - High-frequency economic indicators, such as car sales and imports, showed rapid growth, reflecting a positive economic environment [23] Company Strategy and Development Direction - The company is focused on modernizing core systems and expanding digital capabilities to enhance client journeys across various business lines [9][12] - Sustainability is integrated into the company's strategy, with initiatives aimed at financial inclusion and environmental risk management [13][98] - The company aims to achieve a structural ROE of 18% by 2026 while expanding access to financial services [98] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Peru's macroeconomic fundamentals and the potential for growth despite global uncertainties [5][15] - The company is closely monitoring global developments, particularly trade tensions and their potential impact on commodity prices [7][15] - The outlook for Peru's economy remains positive, with expectations for continued growth supported by private investment and recovering real wages [14][25] Other Important Information - The company announced a dividend payout of PEN 40 per share, reflecting strong solvency and long-term growth plans [12][22] - A one-off gain of approximately $236 million was recorded due to the revaluation of a previously held stake [13] - The company is committed to enhancing its risk management capabilities through ongoing projects [12][46] Q&A Session Summary Question: Guidance Update - The management indicated that while current conditions suggest potential for higher ROE, global uncertainties, particularly related to trade, prevent immediate guidance updates [56][60] Question: Cost of Risk and Model Revisions - Management noted that improvements in the cost of risk are due to a positive macroeconomic environment and adjustments in credit models, with expectations for continued lower costs [67][70] Question: Loan Growth Acceleration - Management acknowledged a lag in loan growth recovery but expressed confidence in an upcoming acceleration due to improved economic conditions and increased lending activity [72][78] Question: Sensitivity to Interest Rates - The company provided insights on its sensitivity to interest rate changes, indicating a minor impact on NIM from potential rate cuts [84][87] Question: Lending Focus and Opportunities - The company is currently focusing on individual lending while also considering SME lending opportunities in the future [92][95]

The Pragmatic Investor covers global macro, international equities, commodities, tech and cryptocurrencies and is designed to guide investors of all levels in their journey. Features include a The Pragmatic Investor Portfolio, weekly market update newsletter, actionable trades, technical analysis, and a chat room. Learn moreJames Foord is an economist by trade and has been analyzing global markets for the past decade. He leads the investing group The Pragmatic Investor where the focus is on building robust ...

Arcos Dorados Holdings Inc.'s (ARCO) first-quarter 2025 earnings missed the Zacks Consensus Estimate but revenues beat the same. On a year-over-year basis, the bottom line grew while the top line tumbled.During the quarter, management highlighted the impact of adverse foreign currency translation effects and macroeconomic pressures in several key markets. While revenues in constant currency grew year over year, U.S. dollar-denominated figures were dragged down by weaker local currencies, especially in Brazi ...

Summary of RxSight (RXST) Q1 2025 Conference Call Company Overview - **Company**: RxSight (RXST) - **Industry**: Medical Technology, specifically focusing on ophthalmology and cataract surgery Key Points Q1 2025 Financial Performance - Q1 revenue grew by **28% year-over-year**, but fell short of market expectations [3][17] - LAL (Light Adjustable Lens) sales were impacted by macroeconomic factors, while LDD (Light Adjustable Lens Delivery) sales exceeded expectations [3][11] Macroeconomic Impact - The demographic typically resistant to economic downturns (60+ age group) showed signs of deferring treatments due to equity market shocks and changes in administration [5][6] - Patients cited economic concerns as reasons for deferring or canceling surgeries, a trend not seen since COVID-19 [6][14] Market Dynamics - The premium IOL market has been flat to declining, with RxSight's growth primarily driven by LAL sales [9][10] - The company noted a generational shift in ophthalmology, with a growing emphasis on work-life balance among physicians, impacting practice productivity [8][9] LDD Sales Performance - LDD sales remained strong throughout 2024 and continued into Q1 2025, indicating a robust demand for capital equipment [11][12] - LALs offer significantly better outcomes for patients compared to monofocal lenses, which incentivizes practices to adopt them despite economic pressures [12][13] Future Expectations - The company anticipates a **20% growth in LAL sales** for Q2 2025, with expectations of a stronger second half of the year as economic conditions stabilize [17][19] - Guidance for 2025 is wide-ranging, reflecting uncertainty in consumer behavior and macroeconomic conditions [20][21] International Market Opportunities - Recent approvals in international markets (e.g., Korea, EU) are expected to contribute modestly to sales, with a focus on building clinical data and key opinion leaders in these regions [28][44][49] Education and Support Initiatives - RxSight plans to enhance education and marketing support for practices to optimize the implementation of their technology, driven by feedback from customers [30][32] - The company aims to address utilization challenges and improve patient outcomes through systematic dissemination of information [32][34] Utilization Trends - There has been a slowdown in the growth of LDD procedures, attributed to macroeconomic factors affecting patient confidence [36][38] - The installed base of LDDs is growing, but the ramp-up in utilization has not met expectations compared to previous years [36][40] Physician Demographics - The adoption of RxSight's technology spans a range of physician experience levels, with younger doctors more inclined to adopt new technologies for career advancement [41][42] Conclusion - RxSight is navigating a challenging macroeconomic environment while maintaining strong sales in LDDs and LALs. The company is focused on education, international expansion, and adapting to market dynamics to drive future growth [44][49]

Shares of American Homes 4 Rent (NYSE: AMH ) have been a solid performer over the past year, delivering an over 9% total return including its dividend. AMH has benefitted from favorable macro fundamentals, and the company delivered a solid Q1. I lastOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just ...