Core Viewpoint - Elon Musk is driving speculation about a potential merger involving SpaceX, xAI, and Tesla as SpaceX prepares for a significant IPO, potentially valued at $1.5 trillion [1][2]. Group 1: Merger Speculation - SpaceX is reportedly in discussions about a merger that could involve both Tesla and xAI, with an IPO targeted for June [2]. - Gene Munster estimates a 45% chance that Tesla will acquire xAI, a 35% chance that SpaceX will buy xAI, and a 20% chance that xAI will remain independent [3]. Group 2: Investment and Strategic Implications - Both SpaceX and Tesla have invested $2 billion each into xAI, indicating strong financial backing for the potential merger [4]. - Musk's strategy includes leveraging xAI for various applications, such as powering SpaceX's datacenters and enhancing Tesla's Full Self-Driving software and humanoid robot program [5]. Group 3: Market Reactions and Predictions - Prediction market Kalshi shows confidence that SpaceX will announce an IPO before mid-2026, reflecting investor optimism [7]. - Tesla shares experienced a decline of 3.23% to $416.57 but rebounded by 2.86% in overnight trading to $428.50, indicating volatility in market sentiment [7].

Elon Musk’s SpaceX is considering a potential merger with Tesla as well as an alternative combination with artificial-intelligence company xAI, Bloomberg News reported Thursday, citing people familiar with the matter.Tesla’s shares were up 3% after the bell following the report.SpaceX and xAI are in discussions to merge ahead of a blockbuster public offering planned for later this year, Reuters exclusively reported earlier on Thursday, to bring Musk’s rockets, Starlink satellites, the X social media platfor ...

Core Viewpoint - Ares Management Corporation has facilitated $1.6 billion in debt financing for the merger of Suave Brands Company and Elida Beauty, resulting in the formation of a new entity named Evermark, which includes several personal healthcare brands [1][2]. Group 1: Financing and Merger Details - Ares Management's credit platform acted as the administrative agent for the $1.6 billion debt financing related to the merger [1]. - The newly formed company, Evermark, will encompass personal healthcare brands such as Suave, Pond's, Caress, St. Ives, Noxzema, and TIGI [1]. Group 2: Statements from Key Executives - Karen De Castro, a partner at Ares Credit, expressed satisfaction in leading the financing for Evermark, highlighting the strength of Ares' US Direct Lending platform and its consumer vertical [2]. - Tad Yanagi from Yellow Wood emphasized that the strategic financing has bolstered the launch of the combined business and will enhance investment in product quality, innovation, and accessibility [2]. Group 3: Ares Management Overview - As of September 30, 2025, Ares Management has over $595 billion in assets under management, providing primary and secondary investment solutions across various asset classes including credit, real estate, private equity, and infrastructure [2].

NEW YORK, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Applied Therapeutics, Inc. (Nasdaq: APLT) (the “Company” or “Applied”), a clinical-stage biopharmaceutical company dedicated to creating transformative treatments for rare diseases, today released the following letter to stockholders regarding the pending tender offer by AT2B, Inc. (“Purchaser”), an indirect wholly owned subsidiary of Cycle Group Holdings Limited (“Cycle”). January 29, 2026 Dear Applied Therapeutics Stockholders, As announced on December 11, 2025, ...

Core Viewpoint - SM Energy and Civitas Resources have received stockholder approval for their all-stock merger, expected to close on January 30, 2026, pending customary closing conditions [1]. Group 1: Stockholder Votes - At the special meeting of SM Energy stockholders, approximately 76.5% of outstanding shares were represented, with 99.1% voting in favor of issuing SM Energy common stock to Civitas stockholders and 98.6% approving an amendment to increase authorized shares [2]. - At the special meeting of Civitas stockholders, approximately 82.9% of outstanding shares were represented, with 97.7% voting to adopt the merger agreement [3]. Group 2: Executive Comments - SM Energy's CEO Herb Vogel expressed satisfaction with the strong endorsement from stockholders, highlighting the merger's potential to create a leading oil and gas company with enhanced scale and top-tier assets, focusing on generating significant free cash flow and long-term value [4]. - Civitas' Interim CEO Wouter van Kempen noted that the merger combines two premier operators with exceptional assets and technical talent, strengthening their competitive position in high-return U.S. shale basins and unlocking meaningful synergies and free cash flow for sustainable growth [4]. Group 3: Company Backgrounds - SM Energy is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs primarily in Texas and Utah [5]. - Civitas Resources focuses on the acquisition, development, and production of crude oil and liquids-rich natural gas from its assets in the Permian Basin and the DJ Basin [6].

FOURTH QUARTER 2025 EARNINGS UNION PACIFIC CORPORATION Cautionary Information Certain statements in this presentation are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to future events or future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause the Company's (or, as it relates to the Transaction (as defined below), the combine ...

Core Insights - The merger between PotlatchDeltic and Rayonier is expected to create significant strategic and financial benefits, including an enhanced real estate portfolio and estimated synergies of $40 million through operational efficiencies [2][3][4]. Group 1: Merger and Financial Outlook - The transaction is anticipated to close in late Q1 or early Q2 of 2026, pending regulatory and shareholder approvals [1]. - The combined company will own nearly 4.2 million acres of timberlands across 11 states and will maintain a wood products manufacturing capacity of 1.2 billion board feet of lumber and 150 million square feet of plywood [3]. - The merger is expected to result in a strong pro forma balance sheet and improved capital markets presence [2]. Group 2: Q3 Operational Performance - Total adjusted EBITDA for Q3 was $89 million, up from $52 million in Q2, driven by strong performance in the real estate segment [4][16]. - The Timberlands segment achieved a Q3 harvest volume of 1.9 million tons, with Idaho producing its highest quarterly volume of the year [1][18]. - The Wood Products segment reported an EBITDA loss of $2 million in Q3, attributed to weak lumber prices despite strong operational performance [5][19]. Group 3: Market Dynamics and Pricing - Lumber prices have declined, with average prices falling by 12% from $450 to $396 per thousand board feet in Q3 [20]. - Factors contributing to the price decline include increased Canadian shipments ahead of higher duties and a lack of meaningful upward momentum despite tariffs and curtailments [7][15]. - The company anticipates a stabilization in lumber prices as supply-demand dynamics improve towards the end of the year [8][14]. Group 4: Real Estate Segment Performance - The real estate segment generated adjusted EBITDA of $63 million in Q3, significantly up from $23 million in Q2, with notable sales in rural real estate [21]. - Approximately 15,600 acres were sold at an average price of nearly $3,300 per acre, including two large transactions in Georgia totaling $39 million [21]. - Demand for rural real estate remains strong, driven by factors such as conservation and recreation [9][21]. Group 5: Future Outlook - The company expects to harvest between 1.7 million and 1.8 million tons in Q4, with a projected decline in sawlog prices in Idaho by approximately 13% [24]. - Total adjusted EBITDA in Q4 is anticipated to be lower than in Q3 due to fewer rural real estate acres sold and reduced development activity [26]. - The long-term fundamentals of the housing market remain intact, with expectations for improved housing activity as affordability increases [12][14].

Core Viewpoint - Spirit Airlines is in discussions with Castlelake for a potential takeover as it faces severe financial difficulties, having filed for bankruptcy twice in one year [1][2][7]. Financial Situation - The airline entered Chapter 11 bankruptcy in August after failing to complete a reorganization less than a year prior [2]. - Spirit Airlines has warned that it might not survive another year due to adverse market conditions and weak demand for domestic leisure travel [3][4]. Restructuring Efforts - The CEO of Spirit Airlines stated that the second restructuring process aims to ensure the long-term success of the company [3]. - The airline has attempted to rebrand itself as more premium, but has struggled with budget cuts and reduced demand due to economic uncertainty [11]. Market Challenges - Spirit Airlines has faced a challenging pricing environment and anticipates ongoing operational challenges for the remainder of fiscal year 2025 [7]. - The airline's first bankruptcy filing occurred in November 2024 after two failed mergers with Frontier and JetBlue [7]. Regulatory Impact - The Justice Department blocked JetBlue's acquisition of Spirit, citing antitrust concerns, which has been linked to Spirit's current financial struggles [8][9].

Core Viewpoint - Richmond Mutual Bancorporation, Inc. reported a net income of $3.4 million for Q4 2025, reflecting a decrease from Q3 2025 but a significant increase compared to Q4 2024, driven by higher net interest income and impacted by acquisition-related expenses from the merger with Farmers Bancorp [1][2][3][4]. Financial Performance - Net income for Q4 2025 was $3.4 million, or $0.35 diluted earnings per share, down from $3.6 million, or $0.36 diluted earnings per share in Q3 2025, but up from $2.5 million, or $0.24 diluted earnings per share in Q4 2024 [1]. - For the year ended December 31, 2025, net income totaled $11.6 million, or $1.17 per diluted share, compared to $9.4 million, or $0.92 per diluted share in 2024 [3]. - The increase in net income for Q4 2025 compared to Q4 2024 was primarily due to higher net interest income from an expanded net interest margin [2]. Merger Details - The company entered into a merger agreement with Farmers Bancorp on November 11, 2025, with the merger expected to be completed in Q2 2026, subject to regulatory and shareholder approvals [4][5]. - Under the merger terms, Farmers Bancorp shareholders will receive 3.40 shares of Richmond Mutual common stock for each share of Farmers Bancorp, valuing the transaction at approximately $82 million [5]. Income Statement Highlights - Net interest income before provision for credit losses increased by $239,000, or 2.1%, to $11.5 million in Q4 2025 compared to Q3 2025, and increased by $1.7 million, or 16.9%, from Q4 2024 [9]. - The annualized net interest margin improved to 3.11% in Q4 2025, up from 3.07% in Q3 2025 and 2.70% in Q4 2024 [10][19]. Balance Sheet Summary - Total assets were $1.5 billion as of December 31, 2025, with loans and leases totaling $1.2 billion [12][24]. - Nonperforming loans and leases increased to $17.4 million, or 1.46% of total loans and leases, compared to $6.8 million, or 0.58%, a year earlier [26]. - Stockholders' equity rose to $145.8 million, a 9.7% increase from the previous year, driven by net income and improved fair values in the investment portfolio [33]. Noninterest Income and Expenses - Noninterest income increased by $224,000, or 17.2%, to $1.5 million in Q4 2025 compared to Q3 2025, largely due to higher loan servicing fees [21]. - Total noninterest expense rose by $454,000, or 5.6%, to $8.5 million in Q4 2025, influenced by nonrecurring acquisition-related costs [22]. Credit Losses and Provisions - A provision for credit losses of $409,000 was recorded in Q4 2025, up from $269,000 in Q3 2025 and $196,000 in Q4 2024 [20]. - Net charge-offs for Q4 2025 were $369,000, compared to $317,000 in Q3 2025 and $286,000 in Q4 2024 [20].

Financial Data and Key Metrics Changes - For Q4 2025, the company reported net earnings of $55 million or $0.40 per share, an increase from $52.6 million or $0.38 per share in Q3 2025 and $50.9 million or $0.36 per share in Q4 2024 [3][4] - Return on average tangible common equity was 14.4% and return on average assets was 1.40% for Q4 2025 [3] - Pre-tax income increased by $5.4 million quarter-over-quarter and $6.3 million year-over-year [4] Business Line Data and Key Metrics Changes - Net interest income grew by $7 million or 6% from Q3 2025 and by $12.2 million or 11% from Q4 2024 [4] - Non-interest income was $11.2 million in Q4 2025, which was $1.8 million lower than Q3 2025 and $1.9 million lower than Q4 2024 [6] - Total loans increased to $8.7 billion, a $228 million or 2.7% increase from Q3 2025 and a $163 million or 2% increase from the end of 2024 [7][8] Market Data and Key Metrics Changes - Average total deposits were $12.6 billion in Q4 2025, compared to $12.5 billion in Q3 2025 [10] - Non-interest-bearing deposits declined by $122 million on average compared to Q3 2025, while interest-bearing non-maturity deposits grew by $234 million [10][11] - The cost of deposits and repos was 86 basis points in Q4 2025, down from 90 basis points in Q3 2025 [11] Company Strategy and Development Direction - The company is focused on maintaining profitability and has a strong commitment to small to medium-sized businesses [95] - The pending merger with Heritage Bank of Commerce is expected to close in Q2 2026, with integration plans already underway [27][87] - The company aims to continue growing its loan portfolio while maintaining credit quality [88] Management's Comments on Operating Environment and Future Outlook - The economic forecast indicates modest growth, with real GDP expected to remain below 1.5% through 2027 [14] - Management expressed cautious optimism for 2026, citing strong loan pipelines and positive customer sentiment [26] - The company is prepared for competitive pressures in the loan market but remains focused on maintaining underwriting standards [40] Other Important Information - The company incurred $1.6 million in one-time merger-related expenses in Q4 2025 [17] - The allowance for credit losses was $77 million at the end of Q4 2025, representing 0.89% of gross loans [13] - Shareholders' equity increased to $2.3 billion, a $109 million increase from the end of 2024 [16] Q&A Session Summary Question: Non-interest-bearing deposits and customer behavior - Management indicated that the decline in non-interest-bearing deposits was typical seasonal behavior and not due to significant customer attrition [23][72] Question: Non-dairy and livestock loan growth sustainability - Management noted that loan pipelines remain strong and expressed optimism about stable loan growth moving forward [25][26] Question: Update on the Heritage Bank merger - Management confirmed that the merger is progressing well and is on track for a Q2 2026 close [27] Question: Competitive landscape for deposits - Management stated that they are winning deposit relationships primarily from operating companies and are not focused on attracting customers with the highest rates [35] Question: Loan modifications and balances - Management explained that loan modifications can occur for various reasons, but the overall number remains small relative to the total loan portfolio [85] Question: Impact of the Heritage Bank merger on loan growth - Management anticipates potential benefits from the merger, including access to new markets and enhanced service capabilities for clients [88]