Key Takeaways Bayer (BAYRY) announced that it has won approval for pipeline drug elinzanetant in the UK for the treatment of moderate to severe vasomotor symptoms (VMS or hot flashes) associated with menopause. The Medicines and Healthcare products Regulatory Agency, a regulatory authority in the UK, has authorized the use of elinzanetant, under the brand name Lynkuet for the above-mentioned indication. Year to date, shares of Bayer have rallied 67% compared to the industry's gain of 2.7%. Bayer's new produ ...

LOS ANGELES, July 11, 2025 (GLOBE NEWSWIRE) -- ServiceTitan (Nasdaq: TTAN), the software platform that powers the trades, today announced that it will host an investor session at Pantheon 2025, the Company’s annual user conference in Anaheim, CA. The in-person investor session will be held on Thursday, September 18, 2025. ServiceTitan Pantheon 2025 Investor SessionWhen: Thursday, September 18, 2025Where: Anaheim Marriott and Anaheim Convention CenterTime: 8:00am to 1:00pm Pacific Time (PT) Event details and ...

Summary of BridgeBio Pharma (BBIO) Update / Briefing July 11, 2025 Company Overview - **Company**: BridgeBio Pharma (BBIO) - **Focus**: Development of therapies for genetic diseases, specifically Limb Girdle Muscular Dystrophy (LGMD) Industry Context - **Disease**: Limb Girdle Muscular Dystrophy (LGMD), particularly LGMD2IR9FKRP related - **Patient Population**: Approximately 7,000 patients in the U.S. and EU with a focus on those with significant cardiac and respiratory involvement Key Points and Arguments 1. **Therapeutic Development**: The Phase III trial for BVP-four eighteen is fully enrolled, with interim data expected later this year to support an accelerated approval strategy [9][10][24] 2. **Clinical Trials**: The Phase II study has shown promising results, with a focus on increasing glycosylated alpha dystroglycan levels and reducing serum creatine kinase levels, indicating muscle injury reduction [30][40] 3. **FDA Engagement**: Positive discussions with the FDA regarding the use of glycosylated alpha dystroglycan as a surrogate endpoint for accelerated approval [45][48] 4. **Market Opportunity**: The company aims to be the first to market with a disease-modifying oral therapy, addressing a significant unmet need in the LGMD patient population [51][55] 5. **Patient Engagement**: Efforts to increase patient identification through partnerships with advocacy organizations and genetic testing programs [53][54] Additional Important Content 1. **Genetic Understanding**: The understanding of LGMD has evolved from clinical symptoms to identifying specific genetic mutations, particularly the FKRP gene associated with LGMD2IR9 [24][19] 2. **Clinical Impact**: The therapy aims to stabilize muscle function and potentially improve quality of life for patients, with a focus on slowing disease progression rather than just symptomatic relief [62][75] 3. **Safety Profile**: BVP-four eighteen has been well tolerated in trials, with only minor gastrointestinal side effects reported [38][82] 4. **Regulatory Strategy**: The company maintains a conservative approach to regulatory approval, emphasizing the need for flexibility given the lack of existing therapies for this patient population [80][81] Conclusion - BridgeBio Pharma is positioned to potentially deliver a first-of-its-kind therapy for LGMD, with ongoing clinical trials and strong regulatory engagement paving the way for future developments in the treatment of this genetic disorder. The focus on patient outcomes and safety, combined with a clear understanding of the disease's genetic basis, underscores the company's commitment to addressing significant unmet medical needs in the LGMD community.

The iShares MSCI USA Quality Factor ETF (QUAL) was launched on 07/16/2013, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - All Cap Blend category of the market.What Are Smart Beta ETFs?For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.Investors who believe in market efficiency should consider market cap indexes, as ...

Core Insights - The Franklin U.S. Equity Index ETF (USPX) is a smart beta ETF that debuted on June 1, 2016, providing broad exposure to the Style Box - All Cap Blend category of the market [1] - Smart beta ETFs track non-cap weighted strategies, appealing to investors who prefer selecting stocks based on fundamental characteristics to outperform the market [3] - The fund is sponsored by Franklin Templeton Investments and has assets exceeding $1.28 billion, targeting large and mid-cap U.S. stocks representing the top 85% of the U.S. equity market by float-adjusted market capitalization [5] Fund Details - The ETF has an annual operating expense ratio of 0.03%, making it one of the least expensive options in its category, with a 12-month trailing dividend yield of 1.16% [6] - The fund's largest sector allocation is in Information Technology, comprising approximately 33.3% of the portfolio, followed by Financials and Consumer Discretionary [7] - Microsoft Corp (MSFT) is the largest holding at about 6.74% of total assets, with the top 10 holdings accounting for approximately 34.89% of USPX's total assets [8] Performance Metrics - As of July 11, 2025, the ETF has gained about 7.63% year-to-date and 13.15% over the past year, with a trading range between $43.36 and $55.00 in the past 52 weeks [10] - The ETF has a beta of 0.90 and a standard deviation of 17.62% over the trailing three-year period, indicating effective diversification of company-specific risk with around 563 holdings [10] Alternatives - The Franklin U.S. Equity Index ETF is a viable option for investors looking to outperform the Style Box - All Cap Blend segment, but there are alternative ETFs such as iShares Core S&P Total U.S. Stock Market ETF (ITOT) and Vanguard Total Stock Market ETF (VTI) [11][12] - Both ITOT and VTI have significantly larger asset bases, with $72.02 billion and $506.04 billion respectively, and maintain an expense ratio of 0.03% [12]

Core Insights - The American Century U.S. Quality Value ETF (VALQ) debuted on January 11, 2018, and provides broad exposure to the Style Box - All Cap Value category of the market [1] - VALQ is managed by American Century Investments and aims to match the performance of the American Century U.S. Quality Value Index, focusing on undervalued large and mid-cap companies with sustainable income [5] Fund Characteristics - VALQ has accumulated over $251.3 million in assets, making it one of the larger ETFs in its category [5] - The fund has an annual operating expense ratio of 0.29%, which is competitive within its peer group, and a 12-month trailing dividend yield of 1.73% [6] - The fund's portfolio is heavily allocated to the Information Technology sector, which represents 26% of its holdings, followed by Healthcare and Consumer Staples [7] Holdings and Performance - Cisco Systems Inc (CSCO) is the largest individual holding at approximately 2.81% of total assets, with the top 10 holdings accounting for about 25.2% of VALQ's total assets [8] - Year-to-date, VALQ has increased by 4.56% and has risen by 12.57% over the last 12 months as of July 11, 2025, with a trading range between $54.09 and $64.64 in the past 52 weeks [10] - The fund has a beta of 0.87 and a standard deviation of 14.59% over the trailing three-year period, indicating effective diversification of company-specific risk with approximately 231 holdings [10] Alternatives - While VALQ is a viable option for investors looking to outperform the Style Box - All Cap Value segment, there are alternative ETFs such as Fidelity High Dividend ETF (FDVV) and iShares Core S&P U.S. Value ETF (IUSV) that may offer lower expense ratios and different risk profiles [11][12]

Core Viewpoint - The Pacer US Small Cap Cash Cows ETF (CALF) is a smart beta ETF that targets small-cap value stocks with high free cash flow yields, aiming to outperform traditional market cap weighted indexes [1][5]. Fund Overview - CALF was launched on June 16, 2017, and has accumulated over $4.32 billion in assets, positioning it as one of the larger ETFs in the small-cap value category [1][5]. - The ETF seeks to match the performance of the Pacer US Small Cap Cash Cows Index, which employs a rules-based methodology [5]. Cost Structure - The annual operating expenses for CALF are 0.59%, which is relatively high compared to other products in the space [6]. - The fund has a 12-month trailing dividend yield of 1.04% [6]. Sector Exposure and Holdings - The ETF has a significant allocation in the Industrials sector, comprising approximately 21.9% of the portfolio, followed by Consumer Discretionary and Information Technology [7]. - The top holding, Cf Industries Holdings Inc, accounts for about 2.31% of total assets, with the top 10 holdings representing around 20.38% of CALF's total assets [8]. Performance Metrics - As of July 11, 2025, CALF has experienced a year-to-date loss of approximately -4.85% and a decline of about -0.79% over the past year [10]. - The ETF has traded between $32.00 and $48.76 in the past 52 weeks, with a beta of 1.09 and a standard deviation of 23.22% over the trailing three-year period [10]. Alternatives - Other ETFs in the small-cap value space include iShares Russell 2000 Value ETF (IWN) and Vanguard Small-Cap Value ETF (VBR), which have lower expense ratios and larger asset bases [12].

Group 1 - The company experienced a significant decline during the pandemic but is projected to recover and exceed previous figures by 2024, with current revenue nearing $3 billion and healthy cash flow [1] - The analysis approach focuses on triangulation between valuation by multiples, discounted cash flow (DCF), and dividend yield, emphasizing a bottom-up methodology [1] - The company prioritizes smaller capitalization stocks in the Consumer Discretionary and Consumer Staples sectors, where there is greater potential for asymmetries and alpha generation [1] Group 2 - The investment philosophy combines income and value investing strategies, requiring an adequate margin of safety in multiples and projected cash flow [1] - Dividend yield is considered a fundamental component for generating returns and mitigating risks, especially in low coverage stocks [1] - The analysis aims to produce in-depth, rational, data-driven insights to support informed investment decisions [1]

Core Viewpoint - MTY Food Group Inc. reported its financial results for Q2 2025, highlighting a mixed performance across its geographical segments, with challenges in the U.S. market contrasted by strong results in Canada. The company is implementing strategic initiatives to enhance guest experiences and improve profitability in its Corporate segment [2][3][18]. Financial Highlights - Revenue for Q2 2025 was $304.9 million, slightly up from $303.7 million in Q2 2024 [4][11]. - Adjusted EBITDA for Q2 2025 decreased to $69.3 million from $73.2 million in Q2 2024, while normalized adjusted EBITDA was $70.0 million, down from $73.7 million [4][11]. - Net income attributable to owners increased significantly to $57.3 million, or $2.49 per diluted share, compared to $27.3 million, or $1.13 per diluted share in Q2 2024 [4][11]. - Cash flows from operations were $40.2 million, a slight decrease from $40.6 million in Q2 2024 [4][18]. - Free cash flows net of lease payments were $23.6 million, down from $24.3 million in Q2 2024, but per diluted share increased to $1.03 from $1.01 [4][11]. Segment Performance - The franchise segment's normalized adjusted EBITDA increased by 3% to $54.0 million, while the Corporate segment saw a decline in normalized adjusted EBITDA to $11.3 million, down $5.5 million year-over-year [4][11][12]. - System sales for Q2 2025 reached $1.46 billion, a modest increase of 0.3% compared to Q2 2024, with a 1% decrease in the U.S. segment offset by a 3% growth in Canada [5][11]. - Same-store sales decreased by 1.9% year-over-year, with Canada growing by 1.4% and the U.S. declining by 3.8% [11][12]. Operational Insights - As of the end of Q2 2025, MTY operated 7,046 locations, with a stable geographical split of 57% in the U.S., 35% in Canada, and 8% internationally [11][19]. - The company opened 76 new locations during the quarter but closed 77, resulting in a net decrease of one location [11][19]. - Digital sales increased by 3% to $296.7 million compared to $287.7 million in Q2 2024 [5][11]. Dividend Declaration - MTY declared a quarterly dividend of $0.33 per share, payable on August 15, 2025, to shareholders registered by August 5, 2025 [2][15].

Core Viewpoint - Harmonic AI, co-founded by Vlad Tenev and Tudor Achim, aims to develop an AI system capable of solving complex mathematical problems, striving for Mathematical Superintelligence (MSI) [3][20]. Group 1: Company Overview - Harmonic AI has successfully raised $100 million in Series B funding, bringing its valuation to approximately $875 million [4][17]. - The company was co-founded by Vlad Tenev, who previously established Robinhood Markets, and Tudor Achim, an expert in AI and large model training [5][15]. - Robinhood, under Tenev's leadership, achieved a market cap of around $22.7 billion and reported a revenue of $927 million with a net profit of $336 million in Q1 2025 [8][12]. Group 2: Funding and Valuation - Harmonic AI's Series A funding raised $75 million, led by Sequoia Capital, with a post-money valuation of $325 million [15]. - The recent Series B funding was led by Kleiner Perkins, with participation from Paradigm and Ribbit Capital, among others [16]. - The company intentionally set its valuation below the "unicorn" threshold of $1 billion, focusing on long-term growth rather than short-term valuation targets [18][19]. Group 3: Product Development - Harmonic AI announced its first model, Aristotle, which can formalize natural language problems into formal representations, enhancing collaboration with mathematicians [20]. - The model's performance improved from 83% to 90% on the MiniF2F benchmark, which includes various levels of mathematical problems [23]. - The ultimate goal is to create an AI system with mathematical capabilities surpassing human abilities, addressing challenges like the "hallucination" problem in AI [26][28].