Sydney, Australia, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Fitell Corporation (NASDAQ: FTEL) (“Fitell” or the “Company”) announced today the appointment of Jack Zeng as the Head of Technology of 2F Robotics Pty Ltd, Fitell’s robotics-focused subsidiary. Before joining Fitell, Mr. Zeng has founded and scaled successful technology ventures and brought experience in building data analytics and intelligent agent solutions for major enterprise customers including Fortune 500 across Asia, spanning product research and ...

Jan 30 (Reuters) - Shares of Tesla jumped nearly 5% on Friday after reports that SpaceX was in deal talks with Elon Musk's other companies stoked investor ​hopes that the billionaire's tech empire could be unified further. SpaceX is in discussions ‌to merge with Musk's AI startup, xAI, ahead of a blockbuster public offering planned for this year, Reuters ‌reported on Thursday. Separately, Bloomberg News reported that SpaceX is considering a merger with Tesla. While Musk's companies are already interlin ...

Core Viewpoint - Kevin O'Leary warns that the proposed $2,000 "tariff dividend" checks linked to the 'Trump Accounts' initiative could exacerbate inflation, labeling it as "helicopter money" that the U.S. economy cannot afford [1][2][3] Economic Impact - O'Leary argues that injecting unearned cash into the economy could reverse progress made in controlling inflation, which peaked at 9% during the pandemic due to similar stimulus measures [2][3] - He emphasizes the ongoing financial strain on American families due to high prices for essential goods, attributing this to past policies [2][3] Policy Critique - O'Leary criticizes the funding mechanism for the proposed dividends, particularly the imposition of tariffs on goods not produced domestically, questioning the logic behind taxing items like bananas and pineapples [4] - He predicts that issues of affordability and healthcare will become central topics in the upcoming midterm elections [4] Broader Context - O'Leary's critique reflects a growing skepticism surrounding the "Invest America Act" and the associated Trump Accounts, despite significant financial commitments from figures like Michael Dell, who has pledged over $6.25 billion [5] - In contrast, Elon Musk dismisses the debate, suggesting that advancements in AI and robotics will eliminate scarcity, thus rendering money obsolete, a view met with skepticism by some market analysts [6]

Group 1 - Tesla Inc.'s stock has increased approximately 25% year-to-date and over 16% in the past month, nearing its 52-week high of $488, indicating a strong momentum phase [1] - The stock is currently priced around $475, reflecting a market capitalization of roughly $1.6 trillion, despite traditional valuation metrics being stretched [2] - Tesla's earnings yield stands at just 0.31%, with an enterprise value to EBITDA ratio of approximately 120x, a trailing P/E above 320x, and a forward P/E still above 200x, suggesting that the rally is not driven by current profits [2][3] Group 2 - Investors are betting on Tesla's future potential in autonomy, robotaxis, and its evolution into an AI and robotics platform, rather than focusing on traditional automotive metrics [4] - The current valuation is more about networks, software, and optionality, rather than the number of cars sold, which explains the high trading levels despite extreme valuation metrics [5] - There is a divide among investors, with bulls viewing current numbers as irrelevant if autonomy scales, while skeptics see the stock as priced for perfection, leaving little room for setbacks [6] Group 3 - Tesla's recent stock surge highlights how markets often prioritize belief and future potential over current financial performance, as the stock is rising despite profits not accelerating [7] - The critical question remains how long the vision can sustain momentum before the gap between earnings and stock price becomes significant [7]

Financial Data and Key Metrics Changes - OMS reported revenue of $82.8 million for the first half of fiscal year 2026, down from $129.2 million in the same period of fiscal 2025, but up from $74.4 million in the previous half-year period [8][27] - Free cash flow increased to $26.4 million, up from $23.4 million in the prior year period, demonstrating strong cash generation capabilities [5][25] - The company maintained a debt-free balance sheet with cash and restricted cash totaling $128.7 million as of September 30, 2025 [6][34] - Operating profit was $17.9 million with an operating margin of 21.6%, and net profit was $14.6 million [7][26] Business Line Data and Key Metrics Changes - Specialty connectors and pipes remain the largest revenue segment, while services and welding equipment provide diversification [4][23] - The company experienced strong order growth across various product and service segments in Singapore, Thailand, Egypt, Oman, Indonesia, and the UAE, which helped offset the timing effects from Saudi Arabia [9][28] Market Data and Key Metrics Changes - The company has expanded its customer reach and deepened existing relationships, advancing geographic diversification across Africa, South Asia, and Asia Pacific [10][29] - OMS successfully entered new markets in Angola and Pakistan, and established new customers in Indonesia, including PT Selaraya Belida and Pertamina Hulu Sanga-Sanga [10][29] Company Strategy and Development Direction - OMS aims to pursue organic growth, global customer diversification, product portfolio expansion, and selective M&A and joint ventures [5][24] - The company is focused on maintaining profitability, preserving balance sheet strength, and prudently deploying capital towards long-term, high-return opportunities [35] Management's Comments on Operating Environment and Future Outlook - The management highlighted that the revenue fluctuations are due to the timing of call-up orders from long-term contracts, not a change in underlying demand [8][27] - The company is well-positioned to navigate changes in the industry and seize new opportunities, with a strong focus on innovation and expansion [34][35] - The broader industry outlook indicates potential challenges due to lower oil prices and demand, but OMS's strengths in cost discipline and financial stewardship will help maintain margins [15][33] Other Important Information - OMS is in the final stages of the contract tendering process in Oman and Indonesia, leveraging its reputation for quality and reliability [12][31] - The company is investing in additive manufacturing and R&D to develop new high-performance components and enhance supply chain capabilities [12][32] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the call may have concluded without a Q&A segment or that the details were not included in the transcripts.

Financial Data and Key Metrics Changes - OMS reported revenue of $82.8 million for the first half of fiscal year 2026, down from $129.2 million in the same period of fiscal 2025, but up from $74.4 million in the previous half-year period [8][26] - Free cash flow increased to $26.4 million, up from $23.4 million in the prior year period, demonstrating strong cash generation capabilities [5][24] - The company maintained a debt-free balance sheet with cash and restricted cash totaling $128.7 million as of September 30, 2025 [6][34] - Operating profit was $17.9 million with an operating margin of 21.6%, and net profit was $14.6 million [7][25] Business Line Data and Key Metrics Changes - Specialty connectors and pipes remain the largest revenue segment, while services and welding equipment provide diversification [4][22] - The company experienced strong order growth across various product and service segments in Singapore, Thailand, Egypt, Oman, Indonesia, and the U.A.E. [9][27] Market Data and Key Metrics Changes - The company’s long-term supply agreement with Saudi Aramco remains intact, with a sizable and active order backlog [8][26] - The fluctuation in revenue recognition timing is attributed to the timing of call-up orders from a major long-term contract in Saudi Arabia, not a change in underlying demand or market share [8][26] Company Strategy and Development Direction - OMS aims to pursue organic growth, global customer diversification, product portfolio expansion, and selective M&A and joint ventures [5][23] - The company is focused on geographic diversification across Africa, South Asia, and Asia Pacific, with successful expansions into Angola and Pakistan [10][29] - OMS is evaluating strategic opportunities to expand manufacturing capability and international footprint [11][30] Management's Comments on Operating Environment and Future Outlook - The management highlighted the importance of maintaining a resilient balance sheet and prudent debt management amid industry volatility [11][30] - The U.S. Energy Information Administration has increased its Brent price forecast for 2025 and 2026, but oil prices are projected to drop next year compared to 2025 [15][33] - OMS's strengths in cost discipline, low leverage, and efficient operations are expected to differentiate the company in a potentially lower demand environment [15][33] Other Important Information - OMS is investing in additive manufacturing and R&D to develop new high-performance components and improve supply chain efficiency [12][31] - The company is collaborating with Singapore's Agency for Science, Technology and Research on digital transformation initiatives [13][32] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the call may have concluded without a Q&A segment or that the details were not included in the transcripts.

Core Insights - Elon Musk secured shareholder approval for a compensation plan that could potentially yield him up to $1 trillion in Tesla stock, reflecting a bet on Tesla's future growth rather than past achievements [1][2] - Over 75% of shareholders voted to reinstate Musk's 2018 pay package, despite opposition from major investors like CalPERS and Norway's sovereign wealth fund, with the plan contingent on achieving ambitious milestones [2][4] - Musk emphasized that the compensation is an incentive aimed at driving innovation in AI and robotics, which he believes could significantly boost the global economy [3][5] Company Performance - Tesla's current fundamentals remain under pressure, with declining margins and cooling demand for electric vehicles, while the robot program is still years away from commercialization [4] - The reinstatement of Musk's pay package raises expectations for the company, which could negatively impact stock performance if these expectations are not met [4] Investor Sentiment - For investors, the focus is on Musk's vision for Tesla to evolve beyond the automotive sector, with the potential for the $1 trillion compensation to be seen as a bargain if the company succeeds [5]

Financial Data and Key Metrics Changes - Tesla's energy business deployed 31 GWh in 2024, more than double the 2023 figure, indicating significant growth in this segment [5] - The company avoided nearly 32 million metric tons of greenhouse gas emissions in 2024, a 70% increase year-over-year, showcasing its commitment to sustainability [6] Business Line Data and Key Metrics Changes - The Model Y was the best-selling vehicle worldwide in 2024, reflecting strong demand and market leadership [5] - The energy business's growth is highlighted by the deployment of 31 GWh, which is a substantial increase from the previous year [5] Market Data and Key Metrics Changes - Tesla's global fleet achieved a safety performance that is ten times better than the average U.S. driver, with one crash occurring after driving over 6.8 million miles [7] - The company is focusing on expanding its installed base globally, which serves as a platform for future value creation [5] Company Strategy and Development Direction - Tesla aims to build a world of sustainable abundance and is at an inflection point in its growth trajectory [4] - The company is investing in services like Robotaxi and Virtual Power Plants, powered by AI, to maximize its installed base [5] - The mission has evolved to achieve sustainable abundance, emphasizing the importance of meeting human needs while preserving nature [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future, stating that the company has the right team, technologies, and infrastructure to create a better world [11] - Elon Musk highlighted the potential of the Optimus robot to revolutionize industries and improve living standards, suggesting a significant economic impact [51][56] Other Important Information - The board has recommended against several shareholder proposals, including those related to sustainability metrics and labor practices, emphasizing the company's existing policies and practices [20][23][27] - The company has received support for its proposals, including the CEO performance plan for Elon Musk, which was approved with over 75% voting in favor [47] Q&A Session Summary Question: What is the future of Tesla's AI and robotics initiatives? - Elon Musk discussed the potential of the Optimus robot, suggesting it could become a fundamental part of daily life and industry, with production ramping up significantly [49][51] Question: How does Tesla plan to address regulatory challenges in Europe? - Musk mentioned ongoing discussions with regulators and the need for customer support to push for approvals of Full Self-Driving features in Europe [62] Question: What are the implications of the recent shareholder proposals? - The board has opposed several proposals, arguing that existing policies are sufficient and that the company is committed to transparency and accountability [20][23][27]

Core Insights - Tesla, Inc. is set to launch its electric vehicles in Saudi Arabia on April 10, 2025, marking its entry into the Gulf region's largest economy [1] - The Saudi Arabian market sees approximately 700,000 new passenger vehicle sales annually, with SUVs being the most popular choice [2] - Tesla faces challenges in Saudi Arabia, where EVs currently represent just over 1% of total car sales, but government initiatives may support future growth [3] Market Dynamics - Toyota holds a 30% market share in Saudi Arabia, followed by Hyundai/Kia at 25%, while Chinese automakers have quickly captured a 10-15% share [2] - In 2023, Tesla experienced its first annual sales decline as a public company, with a 1% drop in sales [4] - BYD, a leading Chinese EV manufacturer, reported $107 billion in annual sales for 2024, surpassing Tesla's nearly $98 billion [4] Competitive Landscape - BYD has introduced an ultra-fast charging system that adds 250 miles of range in just five minutes, significantly outperforming Tesla's Superchargers [4] - Tesla's sales in Europe dropped by about 40% in February 2024 compared to the same month in 2023 [5] - In the U.S., public perception of Tesla has been negatively impacted by Elon Musk's controversial government role, leading to a decline in demand for Tesla vehicles [6] Challenges and Issues - Used Tesla prices are falling despite rising interest in used EVs, and vandalism against Tesla properties has increased, prompting an FBI task force [6] - Protests have occurred at Tesla locations, with demonstrators calling for Musk's resignation from his government position [6]