21 May 2025 | 4:01PM EDT What's Top of Mind in Macro Research: Growing US fiscal concerns, tracking trade flows, the positives of population aging Transcript US: fiscal concerns grow We estimate that the House Republican reconciliation package that extends expiring tax cuts, enacts new tax cuts, and reduces spending will increase the US deficit by around $275bn, or 0.8% of GDP, next year compared with current policy. This increase is slightly larger than we originally anticipated, mainly owing to more gener ...

Core Viewpoint - Meta Platforms is experiencing a positive trend in analyst upgrades, with nearly 20 analysts raising their price targets following the latest earnings report, indicating strong market confidence in the company's growth potential [1] Group 1: Analyst Ratings and Price Targets - Wolfe Research has set a new price target of $750 for Meta, suggesting an upside of nearly 18% from its May 20 closing price [2] - The average price target for Meta is currently $701.05, with a high forecast of $935.00 and a low forecast of $525.00, reflecting a moderate buy rating based on 44 analyst ratings [9] Group 2: Business Messaging Opportunities - Mark Zuckerberg highlighted business messaging as a key growth opportunity, with Wolfe estimating it could represent a $30–$40 billion market for Meta [3][8] - Currently, Meta generates approximately $1.5 billion to $2 billion in annual revenue from WhatsApp, which is part of the Other Family of Apps Revenue that totaled around $1.8 billion over the last 12 months [7] Group 3: User Engagement and Market Potential - WhatsApp boasts over 3 billion monthly active users, equating to about 38% of the global population, while Facebook Messenger has over one billion monthly users [5] - The potential for business messaging could lead to a 20x increase in revenue, with $35 billion in business messaging revenue representing over 20% of Meta's total revenue of $170 billion in the last 12 months [8] Group 4: AI Integration and Monetization Strategy - Meta plans to leverage AI to enhance the monetization of business messaging, envisioning an "AI business agent" for customer service and sales campaigns [9] - The company is currently testing AI features for business messaging, which could improve profitability in developed markets despite the low labor costs in emerging economies [11][12]

Core Viewpoint - Longevity Health Holdings, Inc. has received approval from the Nasdaq Hearings Panel to continue its listing on Nasdaq, contingent upon meeting initial listing rules following its proposed merger with 20/20 BioLabs by September 2, 2025 [1][3]. Company Overview - Longevity Health Holdings focuses on extending human longevity and healthy aging through innovative products in regenerative bio-aesthetics, diagnostics, and nutrition [1][4]. - The company offers two regenerative technologies: Carmell Secretome™ and Elevai Exosomes™, aimed at improving skin and hair health [4]. Merger Details - The proposed merger with 20/20 BioLabs includes a strategic plan to effect a 1-for-30 reverse stock split to meet Nasdaq's listing requirements [2]. - The S-4 registration statement for the merger was filed on May 8, 2025, and the reverse stock split was executed on May 12, 2025 [2]. 20/20 BioLabs Overview - 20/20 BioLabs specializes in developing innovative laboratory tests for early detection and management of chronic disease risks, including a multi-cancer early detection blood test available in the U.S. [5]. - The company plans to introduce a new blood test for monitoring chronic inflammation, which is linked to several leading causes of death in America [5].

Summary of Karyopharm Therapeutics (KPTI) Conference Call Company Overview - **Company**: Karyopharm Therapeutics (KPTI) - **Key Products**: Selinexor (XPOVIO) - **Focus Areas**: Oncology, specifically multiple myeloma and myelofibrosis Key Points Commercial Performance and Product Dynamics - **Q1 Demand Growth**: KPTI reported a 5% year-over-year demand growth for XPOVIO in Q1, despite a one-time impact of $5 million from atypical returns related to high-dose selinexor [3][4] - **Real-World Utilization**: The company is focusing on increasing the utilization of selinexor in both community and academic settings, with a particular emphasis on lower doses [4][5] - **Community Treatment**: Selinexor is primarily used in the community setting for multiple myeloma patients, positioned in the second to fourth line of treatment [5][6] Growth Drivers and Future Outlook - **T Cell Engaging Therapies**: KPTI is generating data to support the use of selinexor in conjunction with T cell engaging therapies, which are becoming more prevalent in earlier treatment lines [9][10] - **Myelofibrosis Opportunity**: The ongoing SENTRI trial is evaluating selinexor in combination with ruxolitinib, with promising early data showing a 79% SVR 35 rate at week 24 compared to 30-35% for ruxolitinib alone [12][13][15] - **Durability of Response**: The company reported a 100% durability of response for patients achieving SVR 35 or TSS 50, indicating sustained benefits from treatment [17] Clinical Trials and Data - **Phase III Trials**: KPTI is focused on executing its Phase III trials for both myelofibrosis and endometrial cancer, with the latter leveraging a biomarker (p53 wild type) for patient selection [45][46] - **Endpoint Changes**: The transition from TSS 50 to absolute TSS is seen as a more sensitive measure for symptom improvement, gaining positive feedback from investigators and regulators [28][29] Safety and Tolerability - **Antiemetic Use**: KPTI has incorporated dual antiemetics in its Phase III trials to mitigate nausea and vomiting, achieving over 85% compliance and lower rates of these side effects [36][38] - **Safety Profile**: The safety profile of selinexor is evolving positively, with improvements noted in gastrointestinal side effects [17][38] Commercial Strategy - **Market Positioning**: KPTI aims to target all frontline myelofibrosis patients, leveraging existing commercial infrastructure to facilitate rapid uptake among physicians [41][42] - **Unmet Need**: Research indicates a significant unmet need in the myelofibrosis market, with 75% of physicians willing to adopt therapies that address key disease hallmarks [42] Financial Discipline - **Operational Focus**: KPTI is maintaining a disciplined approach to operational expenditures, concentrating resources on Phase III readouts and shutting down non-essential programs [48][49] Additional Insights - **Endometrial Cancer Landscape**: The company anticipates that selinexor will address a sizable unmet need in patients with p53 wild type tumors, with enrollment for the Phase III trial progressing well [46][47] - **Future Readouts**: KPTI is positioned for significant upcoming data readouts that could transform treatment paradigms in both myelofibrosis and endometrial cancer [49]

Group 1 - Deca Technologies has signed an agreement with IBM to implement its M-Series™ and Adaptive Patterning® technologies in IBM's advanced packaging facility in Bromont, Quebec [1][2] - The collaboration aims to enhance IBM's advanced packaging capabilities, positioning the Bromont plant as a critical hub for high-performance packaging and chiplet integration [2][4] - Deca's M-Series platform is recognized as the highest-volume fan-out packaging technology globally, with over seven billion units shipped, and the MFIT™ technology offers cost-effective alternatives for chiplet integration [3][6] Group 2 - The partnership reflects a shared commitment to advancing semiconductor packaging, combining IBM's capabilities with Deca's technology to expand the global supply chain for high-performance chiplet integration [4][5] - Advanced packaging and chiplet technology are essential for improving computing solutions in AI and data-heavy applications, with Deca's involvement ensuring IBM's Bromont facility remains innovative [5] - Deca Technologies is a leading provider of advanced packaging technology, with its M-Series™ fan-out technology emerging as a key industry standard for future semiconductor applications [6]

Core Insights - Smurfit Westrock Plc (SW) is benefiting from asset optimization and business improvement initiatives, positioning the company for long-term growth and profitability [1][8] - The company faces challenges from merger-related costs, higher freight and chemical costs, labor shortages, and supply chain issues, which are expected to impact margins [2][14] Company Transformation - Since 2023, Smurfit Westrock has closed underperforming facilities, divested non-core assets, and streamlined operations to enhance efficiency and cost savings [1][7] - The merger of Smurfit Kappa and WestRock on July 5, 2024, is expected to deliver significant growth potential due to their complementary portfolios and geographic reach across 42 countries [3][4] Operational Developments - In Q1 2025, Smurfit Westrock invested in containerboard, corrugated, and consumer systems, expanding its Bag-in-Box offerings and upgrading mill systems for efficiency and environmental improvements [5][9] - The company has closed 32 packaging facilities and three mills since early 2023, with a capacity reduction of approximately 600,000 tons [7][8] Market Demand - There is a growing demand for sustainable, fiber-based packaging solutions, particularly in the beverage, healthcare, retail, and food sectors [9][10] - The rise in e-commerce activities is expected to further support demand for packaging solutions, with global e-commerce revenues projected to reach $4.32 trillion by 2025 [11] Financial Performance - In Q1 2025, Smurfit Westrock's cost of sales increased by 173.9% year-over-year, with transaction and integration-related costs amounting to $395 million [12][13] - The company's stock has declined by 14.8% over the past six months, compared to an 8% decline in the industry [15]

Household Deleveraging: International Practices Thailand Ying Xu SIP/2025/055 IMF Selected Issues Papers are prepared by IMF staff as background documentation for periodic consultations with member countries. It is based on the information available at the time it was completed on January 27, 2025. This paper is also published separately as IMF Country Report No 25/46. 2025 MAY © 2025 International Monetary Fund SIP/2025/055 IMF Selected Issues Paper Asia and Pacific Department Household Deleveraging: Inter ...

Chicago and New York, May 16, 2025 (GLOBE NEWSWIRE) -- Optimizing your business and leveraging relationships were key themes throughout the Christie’s International Real Estate 2025 Summit, held May 4-8 at the Plaza Hotel in New York City.  Christie’s International Real Estate broker-owners and agents from 34 countries attended the event to network with fellow affiliates, learn from Christie’s International Real Estate executives and some of the world’s leading business and creative minds, and celebrate the ...

Core Viewpoint - HIKMICRO has launched the HABROK 4K Multi-Spectrum Binoculars, designed to enhance the experience of hunters and wildlife observers by providing advanced imaging capabilities in various lighting conditions [2][11]. Product Features - The HABROK 4K combines a 4K UHD digital camera with a high-sensitivity thermal detector, featuring a 3840 × 2160 resolution and a 60mm lens, allowing for exceptional color fidelity and detail during daylight [3][12]. - The device supports seamless transitions to thermal and night vision modes, enabling users to capture details and heat signatures in low-light conditions, with thermal detection capabilities up to 1,200 meters away [3][12]. - It includes a built-in 1,000-meter laser rangefinder and a detachable infrared illuminator, enhancing distance measurement and clarity in night mode [4][12]. - The binoculars are equipped with Electronic Image Stabilization (EIS) technology to counteract hand tremors, providing a steady view at high magnification [4][12]. - Weighing only 795 grams, the ergonomic design and IP67-rated magnesium housing ensure durability and comfort for extended use in various weather conditions [5][12]. Market Demand and User Needs - Recent market research indicates a growing demand for optics that perform reliably in low-light and variable weather conditions, which the HABROK 4K addresses effectively [6]. - The device's long battery life of over eight hours supports users during extended excursions, while its intuitive interface caters to both experienced and novice users [6]. Corporate Social Responsibility - HIKMICRO has initiated the "Bag the Deal, Share the Care" campaign, where purchasers of the HABROK 4K can register for a complimentary gift, with a portion of proceeds donated to wildlife conservation efforts [8][10]. - The promotion is available in select regions, reinforcing the brand's commitment to ethical hunting and wildlife preservation [10]. Company Background - HIKMICRO is recognized as a global leader in thermal imaging and digital optics, focusing on research-driven product development and user-centric solutions [13].

LightPath (LPTH) Q3 2025 Earnings Call May 15, 2025 05:00 PM ET Company Participants Sam Rubin - President and CEOAlbert Miranda - CFOBrian Kinstlinger - MD, Director of Research & Head of Technology Research Conference Call Participants Glenn Mattson - AnalystJaeson Schmidt - Director of Research - Senior Research AnalystRichard Shannon - Senior Research AnalystScott Buck - Managing Director & Senior Technology Analyst Operator Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Lig ...