RT Horizon (@JoinHorizon)"The four-year cycle is still alive because humans are going to human." – @MarkYusko– Why innovation is the most important asset class– How the Fed engineered the K-shaped economy– Bitcoin’s four-year cycle & its path to $1MWatch the latest episode of Over The Horizon ↓ https://t.co/0JOz9QF2I6 ...

Weyerhaeuser Company (NYSE:WY) 2025 Investor Day Summary Company Overview - Weyerhaeuser has over 125 years of experience as a leader in sustainable forestry, land management, and wood products manufacturing [2][3] - The company is positioned for accelerated growth through innovation, operational excellence, and leveraging emerging technologies [2][3] Key Themes and Growth Strategy - The focus is on two main themes: building a strong operational foundation and launching a multi-year growth program [4][5] - The growth program aims to deliver an incremental $1.5 billion of Adjusted EBITDA by 2030 over a 2024 baseline, improving cash flow per share and reducing volatility [5][25] Timberlands Business - Weyerhaeuser is the largest private owner of timberlands in North America, with 10.4 million acres in the U.S. and 13 million acres in Canada [6] - The timberlands business generates approximately $1 billion of EBITDA per year, providing a sustainable base for dividends and financial strength [15] - The company has a competitive advantage through its scale, quality, and diversity of its timber portfolio [11][48] Operational Excellence and Cost Discipline - Weyerhaeuser has focused on cost discipline and operational excellence, achieving industry-leading margins and strong brand recognition [7][23] - The company has returned nearly $7.5 billion to shareholders over the past decade, including a 5% annual increase in base dividends [10][24] Market Conditions and Cyclicality - The company acknowledges the cyclicality of the housing market and has strategies in place to navigate market fluctuations [17][18] - Weyerhaeuser believes that cyclical businesses can be profitable with a well-aligned strategy, focusing on cost and operational excellence [17][18] Long-term Targets and Achievements - Weyerhaeuser has successfully met or exceeded aggressive targets set during previous investor days, including acquiring $1.2 billion of high-quality timberlands [20][21] - The climate solutions business achieved its goal of $100 million in Adjusted EBITDA by 2025, demonstrating strong growth potential [21] Growth Initiatives - The growth initiatives include ongoing acquisitions and dispositions, increasing harvest volume, and new demand and product uplift [50][54] - The company is exploring opportunities in the southern export market, capitalizing on declining global timber supplies and increasing demand from countries like India [58][60] Wood Products Business - Weyerhaeuser has one of the largest and most cost-competitive wood products businesses in North America, with a strong portfolio in engineered wood products, lumber, and MDF [62][63] - The company is focused on leveraging its integrated platform to drive growth and improve margins across its wood products business [63] Conclusion - Weyerhaeuser is well-positioned for future growth with a strong operational foundation, innovative strategies, and a commitment to sustainability [34][61] - The company aims to deliver significant value to shareholders through its growth initiatives and disciplined capital allocation approach [26][30]

The UK is an amazing place for science & innovation. Thrilled to deepen our partnership with the UK Government to turbocharge scientific discovery with AI - giving scientists here priority access to our frontier models like AlphaEvolve, AI Co-Scientist, AlphaGenome, WeatherNext & more. We’re also building our first automated lab here in the UK for materials science! ...

Regulatory Landscape & Innovation - CFTC (商品期货交易委员会) 在代币化、现货交易、连续市场和数字资产监管方面取得进展，反映了全球金融发展趋势 [1] - Kraken 积极参与受监管的期货和衍生品生态系统，拥有注册的 FCM (期货佣金商) 和 CFTC 许可的 DCM (指定合约市场) [3] - 美国需要立法明确性和运营准备，以保持在市场基础设施方面的领导地位 [3] - 美国有机会引领市场基础设施的下一个篇章，否则领导地位将转移 [6] Principles for Market Structure - 开放系统、互操作性和用户所有权是重要原则，创新、消费者保护和机构保障可以相互加强 [2] - 强大的规则、开放的架构、可互操作的系统和透明的运营是技术和金融领域取得强大成果的关键要素 [4] - 行业倡导针对加密货币现货交易的直接规则、跨机构的互操作框架、反映全球流动性的连续市场结构以及代币化抵押品和稳定币的明确标准 [5] Vision for the Future - 行业支持奖励透明度和系统完整性的监督模型 [5] - 行业致力于建立一个反映开放性、竞争和用户所有权的现代金融体系 [7] - 创新和监管相结合，可以为消费者和机构提供更好的产品，并加强美国在全球经济中的地位 [7]

[music] Next, let's [music] continue with Maharika from 9 and [music] at the edge in a small workshop. Two brothers were working on a strange machine. It didn't look like much.Just bits of wood, cloth, and wire all tied together. Town's folk nearby laughed. A flying machine.Ha. Impossible. Not in a million years it'll succeed.But the brothers didn't listen. They tinkered and tested, fixing every wobble and every crash until on one cold, windy day, their machine lifted off the ground. For 12 glorious seconds ...

[musica] [applauso] [applauso] Guardate questo casco. Mh. Guardatelo.Questa si chiama intelligenza reale o anche human e nei prossimi minuti capirete anche esattamente il perché. A proposito di casco da lavoro, io arrivo da quel settore lì, nasco come ingegnere civile, quindi un settore che conosco molto bene. Pensate ai costruttori.I costruttori, per definizione costruiscono. Allora, passate magari di fronte a qualche palazzo in costruzione, cioè il cartello di cantiere, però guardate solo le fondamenta an ...

Core Insights - Celsius Holdings, Inc. (CELH) has demonstrated exceptional performance in the beverage sector, with its stock rising 65.1% this year, significantly outperforming the industry decline of 15.7% and the S&P 500's gain of 18.7% [1][8] Group 1: Performance and Market Position - The company's shares have surged due to a rapid portfolio transformation and expanding partnership with PepsiCo, allowing CELH to outperform competitors like The Coca-Cola Company, PepsiCo, and Keurig Dr Pepper [2] - CELH's core brand is one of the fastest-growing in the energy drink market, achieving strong market-share gains across various retail channels [3] Group 2: Growth Drivers - Celsius is aggressively expanding its portfolio and integrating Alani Nu into PepsiCo's distribution network, which is expected to enhance brand reach in early 2026 [4] - Innovation plays a crucial role in growth, with limited-time flavors and seasonal launches attracting new consumers and maintaining relevance among younger demographics [5] Group 3: Financial Metrics - The company's gross margin remained above 50% in Q3, attributed to a shift towards higher-quality revenues and improved operational efficiencies [6][8] - Analysts have raised earnings estimates for CELH, indicating confidence in the company's ability to sustain strong growth into 2026 [13] Group 4: International Expansion - Celsius is increasing brand visibility in international markets such as Australia and select European regions, laying the groundwork for long-term global expansion [9] Group 5: Challenges Ahead - Despite strong demand, the company anticipates near-term volatility due to integration costs and other operational challenges, which may affect margins [10][16] - The integration of Rockstar is expected to contribute to margins only in 2026, leading to potential uneven quarterly comparisons [11] Group 6: Valuation - CELH's forward 12-month P/E ratio of 28.77X is significantly higher than the industry average of 14.4X, indicating a premium valuation that may pose risks if execution falters [12]

Group 1 - The article discusses the importance of enabling Javascript and cookies in browsers to prevent access issues [1] - It highlights that users with ad-blockers may face restrictions when trying to access content [1]

Financial Data and Key Metrics Changes - Net sales for Q2 were $57.2 million, a decrease of 5% compared to $60.2 million in Q2 last year [17] - Gross margin was 45.6%, down from 48% in Q2 last year, with actions taken to clear slow-moving inventory impacting margins [18][19] - GAAP EPS for Q2 was $0.16 compared to $0.24 last year, while non-GAAP EPS was $0.29 compared to $0.37 last year [19] Business Line Data and Key Metrics Changes - In the outdoor lifestyle category, net sales were $34.6 million, down 5% year-over-year, primarily due to a decrease in meat processing equipment [17] - The shooting sports category saw a 5.1% decline in net sales, driven by decreases in gun cleaning and personal protection products, partially offset by strong sales in the Caldwell brand [17] - Traditional channel net sales increased by 2.3%, while e-commerce net sales decreased by 15.9% compared to last year [18] Market Data and Key Metrics Changes - Domestic net sales, which accounted for approximately 95% of revenue, decreased by $2.4 million, or 4.3%, while international net sales decreased by roughly $600,000 compared to Q2 of last year [18] - Point-of-sale (POS) for November grew approximately 13%, indicating strong performance in the outdoor lifestyle category [13] Company Strategy and Development Direction - The company is focused on innovation and entering new outdoor product categories, which is driving the strength of its Growth Brands [5] - The innovation pipeline has generated nearly $100 million in incremental annual new product revenue over the past five years, with new products driving over 31% of net sales [10][12] - The company is committed to reducing inventory levels over time to improve working capital [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the performance in the second half of the year, despite caution regarding evolving consumer spending patterns and retail order volatility [14][26] - The company expects full fiscal year net sales to decline roughly 13%-14% year-over-year, but underlying net sales decline would be approximately 5% when adjusting for accelerated orders from the prior year [26] - Management believes that the full-year benefit of tariff mitigation actions will provide a clear path to improve profitability in fiscal 2027 [30] Other Important Information - The company ended the quarter with $3.1 million in cash and no debt, maintaining a strong balance sheet [20] - A new $10 million share repurchase program was approved, effective October 2025 through September 2026 [24] Q&A Session Summary Question: Visibility into revenue at POS and brand performance - Management indicated visibility into approximately 60% of revenue through POS, with outdoor lifestyle performing well and Caldwell brand significantly outperforming others [33][34] Question: Disconnect between November performance and quarterly guidance - Management noted that while POS is strong, retailers are managing lower inventory levels and adjusting orders based on available capital [35][37] Question: Mitigating softness in the e-commerce channel - Management highlighted the evolution of sales channels and the need to adapt to changes in consumer behavior and retailer strategies [39][40] Question: Seasonality and margin expectations - Management confirmed that Q2 and Q3 are typically the highest sales quarters, with expected gross margins in the range of 42%-43% for the full fiscal year [42][43] Question: Tariff mitigation and its impact on P&L - Management confirmed that tariff costs are capitalized in inventory and will start to amortize in December, with full mitigation expected by fiscal 2027 [51][52] Question: Insights on Black Friday performance - Management reported strong POS results during Black Friday and November, particularly in direct-to-consumer sales [62][63] Question: New product pipeline and market entry - Management expressed excitement about the innovation pipeline and plans to build on existing ecosystems within brands [66][68] Question: M&A landscape updates - Management noted a more favorable M&A environment with potential opportunities emerging, particularly among family-owned businesses [70]

Financial Data and Key Metrics Changes - Net sales for Q2 were $57.2 million, a decrease of 5% compared to $60.2 million in Q2 last year [16] - Gross margin was 45.6%, down from 48% in Q2 last year, primarily due to actions taken to clear slow-moving inventory [18] - GAAP EPS for Q2 was $0.16 compared to $0.24 last year, while non-GAAP EPS was $0.29 compared to $0.37 last year [18] Business Line Data and Key Metrics Changes - In the outdoor lifestyle category, net sales were $34.6 million, down 5% year-over-year, mainly due to a decrease in meat processing equipment [16] - The shooting sports category saw a 5.1% decline in net sales, driven by decreases in gun cleaning and personal protection products, partially offset by strong sales in the Caldwell brand [16] - Traditional channel net sales increased by 2.3%, while e-commerce net sales decreased by 15.9% compared to last year [17] Market Data and Key Metrics Changes - Domestic net sales, which accounted for approximately 95% of revenue, decreased by $2.4 million, or 4.3%, while international net sales decreased by roughly $600,000 compared to Q2 of last year [19] - The company noted that online-only customers now represent just 20%-25% of total net sales, indicating a shift in consumer purchasing behavior [8] Company Strategy and Development Direction - The company is focused on innovation and expanding into new outdoor product categories, which is driving the strength of its Growth Brands [5] - A major mass-market retailer is introducing Caldwell and BOG brands into thousands of stores, enhancing visibility and consumer engagement [10] - The company aims to reduce inventory levels over time to improve working capital, targeting a decrease to roughly $115 million by the end of the fiscal year [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of the year but remains cautious about the macro environment and evolving consumer spending patterns [13] - The company expects net sales for the full fiscal year to decline approximately 13%-14% year-over-year, but underlying net sales decline would be roughly just 5% when adjusting for accelerated orders from the prior year [25] - Management believes that the full year could deliver net sales that are down roughly 8% year-over-year in Q3, reflecting macro challenges and retailer dynamics [26] Other Important Information - The company ended the quarter with $3.1 million in cash and no debt, maintaining a strong balance sheet [19] - A new $10 million share repurchase program was approved, with approximately 74,000 shares repurchased at an average price of $8.76 per share [23] Q&A Session Summary Question: Visibility into revenue at POS and brand performance - Management indicated that they have visibility into about 60% of revenue through POS data, with outdoor lifestyle performing well and Caldwell brand significantly outperforming others [32] Question: Disconnect between November performance and Q3 guidance - Management explained that while POS is strong, retailers are managing lower inventory levels and adjusting their purchasing patterns based on available capital [34] Question: Mitigating softness in the e-commerce channel - Management noted that the evolution of consumer behavior and the growth of omnichannel sales are expected to reduce volatility in the e-commerce channel over time [36] Question: Seasonality and margin expectations - Management confirmed that Q2 and Q3 are typically the highest sales quarters, with expected gross margins in the range of 42%-43% for the full fiscal year [37] Question: Tariff mitigation and its impact on P&L - Management clarified that tariff costs are capitalized in inventory and will start to amortize in December, with mitigation efforts expected to offset tariff impacts by FY27 [39] Question: Insights on Black Friday performance - Management reported strong POS results during Black Friday and November, particularly in the direct-to-consumer segment [44] Question: New product pipeline and market entry - Management expressed excitement about the innovation pipeline, focusing on building ecosystems around existing brands and entering new markets [46] Question: M&A landscape updates - Management noted an increase in M&A opportunities, particularly among family-owned businesses looking to divest, and expressed optimism about potential larger assets surfacing in the near future [49]