Core Viewpoint - CNX Resources Corporation is set to release its second-quarter 2025 results on July 24, with expectations of continued growth driven by recent acquisitions and operational strategies [1][2]. Group 1: Upcoming Results Expectations - The company is anticipated to benefit from the acquisition of Apex Energy, which is expected to enhance production capacity and free cash flow per share [2][3]. - The Zacks Consensus Estimate for earnings is 38 cents per share, reflecting a year-over-year increase of 5.6% [4]. - Revenue estimates are projected at $456.5 million, indicating a year-over-year increase of 31.9% [4]. Group 2: Production and Pricing Insights - Total production volumes are expected to reach 158.66 billion cubic feet equivalent, up 18.4% year over year [4]. - The average natural gas sales price is estimated to rise by 85.6% year over year to $2.97 per thousand cubic feet equivalent [5]. - However, the realized natural gas price is projected to decrease by 2.4% to $2.45 per thousand cubic feet [5]. Group 3: Financial Strategy and Performance - The company's focus on technology development and strategic use of free cash flow is expected to support long-term value creation [3][8]. - The ability to generate free cash flow may allow CNX to reduce debt and repurchase shares, positively impacting its bottom line [3][8]. - Despite these positive indicators, the Earnings ESP is -13.38%, suggesting a lower likelihood of an earnings beat this quarter [6].

Core Viewpoint - Newmont Corporation's shares have increased by 39.2% over the past six months, driven by rising gold prices amid trade and geopolitical uncertainties, outperforming both the Zacks Mining – Gold industry and the S&P 500 [1][6]. Performance Summary - NEM stock has outperformed the Zacks Mining – Gold industry's increase of 38.5% and the S&P 500's rise of 3.9% [1]. - Compared to peers, Barrick Mining Corporation, Agnico Eagle Mines Limited, and Kinross Gold Corporation have gained 30.1%, 39.5%, and 49.7%, respectively, over the same period [1]. Technical Indicators - Technical indicators show bullish momentum for NEM, with the stock trading above its 50-day and 200-day simple moving averages (SMA), indicating a long-term uptrend [4][5]. Financial Health - Newmont recorded $1.2 billion in free cash flow in Q1 2025, reflecting strong financial health that supports growth initiatives [6]. - The company has a liquidity position of $8.8 billion, including approximately $4.7 billion in cash and cash equivalents, and operating cash flow from continuing operations increased by roughly 162% year-over-year to around $2 billion in Q1 [12]. Growth Projects - Newmont is investing in growth projects such as the Tanami Expansion 2 in Australia and the Ahafo North expansion in Ghana, which are expected to enhance production capacity and extend mine life [9]. - The acquisition of Newcrest Mining Limited has created a strong portfolio with a multi-decade production profile, expected to deliver significant value and synergies, achieving $500 million in annual run-rate synergies post-acquisition [10]. Strategic Divestitures - Newmont has divested non-core businesses to focus on Tier 1 assets, completing a divestiture program in April 2025 that is expected to generate $3 billion in after-tax cash proceeds [11]. - Recent sales of shares in Greatland Resources Limited and Discovery Silver Corp are projected to yield around $470 million after taxes and commissions [11]. Gold Price Dynamics - Gold prices have increased by approximately 27% this year, reaching a record high of $3,500 per ounce on April 22, 2025, driven by trade tensions and central bank purchases [13][15]. - Current gold prices are hovering above $3,300 per ounce, supported by safe-haven demand amid geopolitical uncertainties [15]. Dividend and Earnings Outlook - NEM offers a dividend yield of 1.7% with a payout ratio of 24%, indicating a sustainable dividend backed by strong cash flows [16]. - Earnings estimates for 2025 have been revised upward, with a Zacks Consensus Estimate suggesting a year-over-year growth of 31.3% [17]. Valuation Metrics - Newmont is trading at a forward price/earnings ratio of 12.24X, slightly below the industry average of 12.45X, indicating a competitive valuation [19]. Investment Case - Newmont presents a compelling investment opportunity due to its robust growth projects, strong financial health, and rising earnings estimates, making it a prudent choice for investors looking to capitalize on favorable gold market conditions [23].

Financial Performance - GE Aerospace beat street estimates by $0.23 per share, earning $1.66 per share [1] - Revenue exceeded expectations, topping $10.1 billion [2] - The company raised its free cash flow guidance for the year to a range of $6.5 billion to $6.9 billion [3] - GE Aerospace is targeting $8.5 billion in free cash flow for 2028 [3][4] - The company is targeting $11.5 billion of operating profit [4] Operational Highlights - Engine deliveries increased by 45% in the second quarter [2] - The company expects to grow at a double-digit rate [4] Market Performance - GE Aerospace has significantly outperformed the S&P 500 over the last three years [4]

Core Viewpoint - Intuitive Machines stock has shown resilience despite a downgrade from Bank of America, indicating potential investor optimism and future growth prospects [2][4][5]. Group 1: Stock Performance and Analyst Ratings - Bank of America analyst Ronald Epstein lowered the price target for Intuitive Machines stock from $16 to $10.50, resulting in an "underperform" rating [2]. - Despite the downgrade, Intuitive Machines stock increased by 1.2% initially and continued to rise, gaining 5.1% by mid-morning [2][4]. - The stock's performance this year has been bolstered by a report of positive free cash flow of $13.3 million in Q1 [5]. Group 2: Future Profitability and Cash Flow Concerns - Analysts predict that Intuitive Machines will not achieve sustained profitability until at least 2027 and consistent positive free cash flow until 2028 [6]. - Management has cautioned about potential "cash receipt lumpiness" in Q2, which may lead to negative free cash flow [5][6]. Group 3: Growth Opportunities - Intuitive Machines has secured multiple NASA contracts for lunar missions, a Near Space Network communications contract, and is developing Earth reentry vehicles for semiconductor and space pharmaceutical clients, indicating a promising future [7].

Core Viewpoint - Kinross Gold Corporation (KGC) has experienced a significant share price increase of 67.9% year-to-date, outperforming both the Zacks Mining – Gold industry and the S&P 500 index, driven by strong earnings and higher gold prices [1][7]. Performance Comparison - KGC's peers, including Barrick Mining Corporation, Newmont Corporation, and Agnico Eagle Mines Limited, have seen share price increases of 36.9%, 57%, and 53.1%, respectively, during the same period [2]. Technical Indicators - KGC has been trading above its 200-day simple moving average (SMA) since March 6, 2024, and is also above its 50-day SMA, indicating a bullish trend [5]. Development Projects - Key development projects such as Great Bear and Round Mountain Phase X are expected to enhance KGC's production and cash flow [10]. - The commissioning of the Manh Choh project is anticipated to significantly increase cash flow at the Fort Knox operation [10]. Financial Health - KGC ended Q1 with a liquidity position of approximately $2.3 billion, which supports debt reduction and dividend safety [12]. - The company generated record free cash flows of around $1.3 billion in 2024, with free cash flow more than doubling year-over-year to $370.8 million in Q1 [12]. Debt Management - KGC repaid $800 million of debt in 2024 and reduced its net debt to around $540 million, with a long-term debt-to-capitalization ratio of 14.4% [13]. Gold Price Impact - Gold prices have increased by roughly 28% this year, reaching a record high of $3,500 per ounce on April 22, 2025, and currently hovering above $3,300 per ounce, which is expected to enhance KGC's profitability [14]. Dividend Information - KGC offers a dividend yield of 0.8% with a payout ratio of 14%, indicating a sustainable dividend backed by strong cash flows [15][16]. Analyst Sentiment - Earnings estimates for KGC have been rising, with the Zacks Consensus Estimate for 2025 earnings at $1.17, reflecting a year-over-year growth of 72.1% [17]. Valuation Metrics - KGC is trading at a forward price/earnings ratio of 12.29X, slightly below the industry average of 12.41X, indicating a favorable valuation compared to peers [18]. Investment Outlook - KGC presents an attractive investment opportunity with a strong pipeline of development projects, solid financial health, and favorable market conditions, making it a strong buy recommendation [21][22].

Q2 2025 Performance - Adjusted EBITDA for Q2 2025 was $27.1 million[3], compared to $31.7 million in Q2 2024[3, 4], a decrease of 14.5% - The Transportation segment's Adjusted EBITDA decreased from $11.2 million in Q2 2024 to $8.5 million in Q2 2025[3, 4], a decrease of 24.1% - The Specialty Products segment's Adjusted EBITDA decreased from $5.7 million in Q2 2024 to $4.4 million in Q2 2025[3, 4], a decrease of 22.8% - The Sulfur Services segment's Adjusted EBITDA decreased from $10.6 million in Q2 2024 to $9.7 million in Q2 2025[3, 4], a decrease of 8.5% - The Terminalling & Storage segment's Adjusted EBITDA increased from $8.0 million in Q2 2024 to $8.4 million in Q2 2025[3, 4], an increase of 5% Full-Year 2025 Guidance - The company projects a full-year 2025 Adjusted EBITDA of $109.1 million[5] - Total segment adjusted EBITDA is projected to be $123.8 million[5] - Maintenance capital expenditures are estimated at $20.5 million, and plant turnaround costs at $5.4 million[5] - Total distributable cash flow is projected to be $27.8 million[5] - Total adjusted free cash flow is projected to be $18.8 million[5]

GE Aerospace beating second quarter uh estimates on the top and bottom lines. And Philo joins us now with the guy we were just talking about, CEO Larry Culp. Hey Phil. Hey Joe.Larry, thank you for joining us on a big day not only for reporting Q2 results, beating on the top and the bottom line, but also investor day starting in about a half an hour. I want to talk about Q2. Much better than last year, much better than Q1.What's driving that. Well, Phil, thanks for coming to Evenenddale, Ohio. We're uh thril ...

Investment Strategy & Market Analysis - Free cash flow is considered a crucial valuation metric, favored by investors like Warren Buffett for identifying companies generating more cash than needed for operations [2] - Traditional value investing relying on price-to-book ratios is becoming less relevant as intangible assets now constitute approximately 80-85% of assets in S&P 500 companies [4] - A portfolio based on free cash flow yield outperformed a portfolio based on value factor (determined by price-to-book) between 2000 and June 2024, returning over double the amount [5] ETF Performance & Characteristics - Pacer US Cash Cows ETF (COWZ) selects 100 companies from the Russell 1000 index with the highest free cash flow yield, currently holding approximately $21 billion in assets [7] - VictoryShares Free Cash Flow ETF (VFLO) has gathered over $26 billion in assets year-to-date, totaling $44 billion, due to its consideration of both trailing and forward-looking free cash flow [9] - Invesco NASDAQ Free Cash Flow Achievers ETF (QZ) focuses on technology companies with positive free cash flow in each of the trailing 11 years and year-over-year growth [11] - Invesco product (QZ) has shown the best performance, returning about 19% over the past year, likely due to its focus on technology stocks [15] ETF Methodologies & Holdings - Pacer's COWZ ETF portfolio is heavily weighted in healthcare (20%) and energy (19%), with top holdings including Ford, Exxon Mobil, and Chevron [9] - VictoryShares' VFLO ETF portfolio is heavily weighted in consumer discretionary, with top holdings including Qualcomm, Mercar, and United Health [11] - Invesco's QZ ETF portfolio includes top holdings like Nvidia, Meta, and Broadcom, reflecting its focus on technology companies [12]

Core Viewpoint - Unity Software's stock price target has been raised by Jefferies analyst Brent Thill to $35, reflecting a more than 20% increase, with a buy recommendation reiterated [1][3] Group 1: Market Insights - Jefferies' survey indicates that overall ad spend expectations for 2025 have improved, now projected to grow nearly 4% year-over-year [3] - Unity's market share in mobile game advertising is growing, which is viewed as incrementally positive, prompting an increase in earnings estimates [3] Group 2: Financial Performance - Unity has generated substantial positive free cash flow of $308 million over the last 12 months, despite being unprofitable under GAAP [4] - The current valuation of Unity's stock stands at a 45x price-to-free-cash-flow based on its $14 billion market capitalization [4] Group 3: Growth Projections - Analysts forecast that Unity's free cash flow will more than triple to nearly $1 billion by 2030, which could justify the current stock valuation [5] - The projected growth rate of free cash flow from $308 million to just under $1 billion over five years translates to a 26% annualized growth rate [6]

Joining us now is Michael Turin. He's a senior analyst at Wells Fargo. Michael, welcome.It's good to have you. Hey, thanks for having me on, Kelly. Appreciate it.Uh, let's talk Coreweee. Um, you know, the this is a company that you think what when you hear the data center announcement today. Um, I mean, less on the data center announcement specifically, but we haven't seen a company move quite like this in software before.They're moving at warp speed. We've seen acquisitions both up and down the stack. And ...