MILAN — Italian brand Velasca continues to expand its retail and online business, but is also starting to explore the potential of wholesale distribution as its total look collections gain steam with consumers. Established in Milan in 2013 as a direct-to-consumer men’s footwear brand by Enrico Casati and Jacopo Sebastio, Velasca has been ramping up its offer with a ready-to-wear line and women’s footwear. More from WWD “We are looking to plant a flag in markets where we are not present yet, and working wi ...

SAULT STE. MARIE, Ontario, Sept. 29, 2025 (GLOBE NEWSWIRE) -- The United Steelworkers union (USW) is responding to today’s announcement that the federal government will provide a $400 million loan through the Large Enterprise Tariff Loan facility and the Ontario government’s additional $100 million in financial support to Algoma Steel. While the union welcomes the extension of liquidity to support Algoma in the short term, it stresses the need for public investments to come with transparent commitments to p ...

Core Insights - Interactive Brokers Group (IBKR) and Raymond James Financial (RJF) are benefiting from increased market volatility and retail investor participation, enhancing their revenue generation from trading activities and client accounts [1][3]. Group 1: Company Overview - IBKR is a technology-driven electronic trading platform catering to advanced traders with low-cost, high-tech online brokerage services [2]. - RJF adopts a more traditional approach, focusing on personalized financial solutions and diversified revenue streams, including advisory fees and commissions [9]. Group 2: Financial Performance - IBKR's compensation expenses relative to net revenues are lower than industry peers, indicating efficient cost management [4]. - RJF's Private Client Group segment has shown a compound annual growth rate of 12.7% over the last three fiscal years [11]. Group 3: Growth Prospects - IBKR is expanding globally through product diversification, including the introduction of new trading features and zero-commission trading in various markets [6][7]. - RJF has pursued acquisitions to enhance its market presence, including recent deals in Europe and Canada [12][13]. Group 4: Valuation and Performance Comparison - IBKR shares have increased by 47.1% this year, while RJF shares have risen by 10.7%, indicating stronger investor sentiment towards IBKR [15]. - IBKR's current price-to-earnings (P/E) ratio is 31.72X, compared to RJF's 14.84X, suggesting that RJF is relatively undervalued [16]. Group 5: Earnings Estimates - IBKR's revenue estimates for 2025 and 2026 are $5.68 billion and $6.05 billion, reflecting year-over-year growth rates of 8.9% and 6.4% [20]. - RJF's revenue estimates for fiscal 2025 and 2026 are $13.94 billion and $14.89 billion, with growth rates of 8.8% and 6.8% respectively [23]. Group 6: Investment Outlook - IBKR is positioned for growth due to its technological capabilities and innovative product offerings, making it a favorable option for long-term investors [28]. - RJF's diversified revenue streams and favorable valuation make it an attractive choice for conservative investors [27].

Key Takeaways RIAs can offer investors a 0.50% cash bonus on TradePMR deposits from October 2025 to March 2026.Asset Match supports HOOD's AUM growth and revenues through product diversification.HOOD continues to expand its offerings with copy trading, prediction markets and community features.TradePMR, a subsidiary of Robinhood Markets, Inc. (HOOD) , has introduced the “Asset Match” feature for independent registered investment advisers (RIAs). This will enable independent RIAs to offer investors a small c ...

1. Christian Hadjiminas, Joachim Sucker and Dr. Björn Andres 1. Christian Hadjiminas, Joachim Sucker and Dr. Björn Andres 2. From the signing ceremony in Bonn 2. From the signing ceremony in Bonn IRIS-C Thermal clip-on IRIS-C Thermal clip-on PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) Initial order through OCCAR of c.€50 million, with embedded option of €150 million IRIS-C gaining strong traction among existing and new customers globally, expected to become the new reference product ...

Core Viewpoint - Everest Group, Ltd. (EG) is trading at a discount compared to the industry, with a price-to-book value of 0.93X versus the industry average of 2.53X, and holds a Value Score of A [1] Group 1: Price Performance - Shares of Everest Group have declined by 7.9% year-to-date, underperforming the Finance sector and the Zacks S&P 500 composite, which grew by 13.6% and 13.4% respectively [3] - The market capitalization of Everest Group is $13.9 billion, with an average trading volume of 0.4 million shares over the last three months [3] Group 2: Financial Projections - The Zacks Consensus Estimate for Everest Group's 2025 revenues is $17.7 billion, reflecting a year-over-year increase of 2.3% [5] - The consensus estimate for current-year earnings is $45.51 per share, indicating a growth of 52.6% from the previous year [5] - Projections for 2026 earnings per share and revenues suggest year-over-year increases of 33.6% and 4.8% respectively [5] Group 3: Business Strategy and Growth - Everest Group is diversifying its products and regions, which supports steady and sustainable growth, while reducing reliance on North America [8][12] - The company is expanding its presence in Asia, Latin America, and Europe, enhancing underwriting agility and risk-adjusted returns [12] - A conservative investment strategy, with over 75% of assets in investment-grade fixed income, positions the company to benefit from a higher-rate environment [14] Group 4: Financial Health - Everest Group's debt-to-capital ratio is 19.3%, significantly lower than the industry average of 34.2%, indicating strong financial flexibility [15] - The times interest earned ratio stands at 447x, compared to the industry average of 11.5x, showcasing a disciplined approach to leverage [15] Group 5: Profitability Metrics - The return on equity for Everest Group is 5.9%, which is below the sector average of 14.8%, highlighting challenges in capital efficiency [17] - The combined ratio for the second quarter increased by 10 basis points year-over-year to 90.4%, indicating ongoing exposure to catastrophic losses [16] Group 6: Shareholder Value - The company has raised dividends four times in the past five years, resulting in an annualized growth rate of 11.7% and a current payout ratio of 40% [18] - A $10 million share repurchase program has been authorized, reflecting a commitment to rewarding investors [18] Conclusion - Overall, Everest Group is supported by product diversification, higher premium volumes, and disciplined financial management, but faces challenges related to catastrophe losses and profitability metrics [19]

Core Insights - Interactive Brokers Group, Inc. (IBKR) stock is trading at a premium with a forward 12-month price/earnings (P/E) ratio of 31.03, significantly above the industry average of 14.75, indicating potential overvaluation compared to historical norms [1][5][18] Valuation Comparison - Compared to peers, IBKR is overvalued relative to Charles Schwab (P/E of 18.10) but favorably priced against Robinhood (P/E of 66.35) [2] Growth Factors - IBKR is expanding its product offerings and global reach, including the introduction of zero-commission trading in Singapore and NISA accounts for Japanese investors [7][8] - The company has launched innovative tools like the Impact Dashboard for sustainable investing and cryptocurrency trading via Paxos Trust Company, enhancing its service portfolio [10] - Technological excellence is a key strength, with low compensation expenses (10.9% of net revenues) and a compound annual growth rate (CAGR) of 21.8% in total net revenues over the past five years [11][12] Revenue Estimates - The Zacks Consensus Estimate for IBKR's revenues in 2025 and 2026 is $5.68 billion and $6.05 billion, reflecting year-over-year growth of 8.9% and 6.4% respectively [13] Price Performance - Year-to-date, IBKR shares have gained 43.4%, outperforming the industry and S&P 500 Index, although underperforming compared to Robinhood's 216% increase [16] Earnings Estimate Revisions - Analysts are bullish on IBKR, with upward revisions in earnings estimates for 2025 and 2026, indicating growth rates of 11.4% and 6.1% respectively [20] Final Thoughts - Despite premium valuation concerns, IBKR is well-positioned for growth due to strong technological capabilities and diversified product offerings, making it an attractive investment option for long-term potential [18][22]

Financial Data and Key Metrics Changes - The company has achieved a compounded annual growth rate of 21% over the last 17 years, indicating strong growth since its public listing [3] - The gross margin rate grew in the second quarter, reflecting effective management of costs and pricing strategies [29] Business Line Data and Key Metrics Changes - The domestic business in North America grew double digits despite the overall industry decline of 8%, showcasing the strength of the company's core categories [7] - The air fryer business is expected to grow globally, with a notable recovery in the UK market after a slight decline in the first quarter [9] Market Data and Key Metrics Changes - The company anticipates that international revenue will approach 50% in the near term, with significant opportunities in Germany and France, which collectively represent over $2 billion [10] - The business in Mexico is projected to grow triple digits in Q3, highlighting the success of international expansion efforts [12] Company Strategy and Development Direction - The company focuses on three growth pillars: gaining market share in existing categories, expanding into new categories, and international growth [3] - The strategy includes diversifying product offerings and entering new markets directly, moving away from distributor models in certain regions [4] Management's Comments on Operating Environment and Future Outlook - The management acknowledges a challenging consumer environment but believes that innovative products and effective marketing will allow the company to capture discretionary spending [26] - The company is prepared for ongoing tariff challenges and has successfully diversified production outside of China, achieving 90% of production from other countries [28] Other Important Information - The company spends over 11% of sales on advertising, which is a significant investment compared to competitors, allowing for strong brand presence and consumer engagement [15] - The company has a robust pipeline of 25 new products planned for launch each year, ensuring continued innovation [35] Q&A Session Summary Question: What gives confidence in sustainable growth? - The company has a strong historical growth rate and a clear strategy focused on market share, new categories, and international expansion [3] Question: How is the company managing product portfolio? - Diversification is key, with no single product category dominating the business, allowing for stability and growth across various segments [8] Question: What are the expectations for the consumer environment? - The management expects a challenging environment but believes there is still discretionary spending available for innovative products [26] Question: How is the company addressing tariffs? - The company has diversified production and is implementing price increases to mitigate tariff impacts, while also managing operating expenses [28][30] Question: What is the long-term gross margin outlook? - The company aims to expand gross margins through careful product development and cost management, ensuring sustainability in growth [39]

Financial Data and Key Metrics Changes - The company has achieved a compounded annual growth rate of 21% over the last 17 years, indicating strong historical growth [3] - The gross margin rate grew in the second quarter, reflecting effective management of costs and pricing strategies [32] Business Line Data and Key Metrics Changes - The domestic business in North America grew double digits despite the overall industry decline of 8% in the second quarter [7][27] - The air fryer business is expected to grow globally, with a notable recovery in the UK market after a slight decline earlier in the year [10] Market Data and Key Metrics Changes - The company anticipates that international revenue will approach 50% of total revenue in the near term, with significant opportunities in Germany and France [4][11] - The business in Mexico is projected to grow triple digits in Q3, showcasing strong international expansion [13] Company Strategy and Development Direction - The company focuses on three growth pillars: gaining market share in existing categories, expanding into new categories, and international growth [3][4] - SharkNinja emphasizes product diversification, with no single product category representing a significant share of overall business [9] Management's Comments on Operating Environment and Future Outlook - The management acknowledges a challenging consumer environment but believes there is still discretionary spending available for innovative products [30] - The company is committed to launching 25 new products annually, maintaining a strong pipeline of innovation despite competitive pressures [39] Other Important Information - The company has successfully diversified its sourcing, achieving 90% of production outside of China, which has helped mitigate tariff impacts [31][32] - SharkNinja spends over 11% of sales on advertising, which is a significant investment compared to competitors [17] Q&A Session Summary Question: What are your expectations for the consumer environment in the back half of 2025? - Management believes that the consumer environment remains challenging, requiring effort to earn consumer spending [29] Question: Can you provide an update on the impact of tariffs? - The company has diversified production to mitigate tariff impacts, with current tariffs on Chinese products ranging from 30% to 55% [31][32] Question: How should we think about your pricing strategy moving forward? - The company has raised prices on several products without significantly impacting demand, indicating strong consumer acceptance [36][37] Question: What is the competitive environment like? - The competitive landscape is always tough, and the company must continuously innovate to maintain its market position [39] Question: How are conversations with wholesale partners regarding forward demand? - Retailers are supportive of SharkNinja's innovation, and underlying consumer demand remains strong [40][41]

Summary of Hwatsing (688120.SS) Conference Call Company Overview - **Company**: Hwatsing (688120.SS) - **Industry**: Semiconductor Equipment Key Financial Performance - **2Q25 Revenue**: Rmb1.0 billion, representing a **27% YoY** and **14% QoQ** growth, in line with Goldman Sachs estimates [1][4] - **Contract Liabilities**: Increased to **Rmb1.8 billion** in 2Q25, indicating a solid order uptrend [2][4] - **Net Income**: Rmb272 million, reflecting an **18% YoY** and **17% QoQ** increase, consistent with estimates [4][10] - **Gross Margin**: Declined to **45.8%**, slightly below the expected **46.7%** [4][10] - **Operating Income**: Rmb290 million, up **56% YoY** and **11% QoQ** [4][10] Market and Product Insights - **Semiconductor Capex**: Positive outlook due to increasing semiconductor capital expenditures in China, particularly driven by AI chip demand [1] - **Product Expansion**: Diversification into thinning, dicing, polishing, and cleaning tools, with notable growth in the **12'' wafer thinning tool** and **Ion implantation tools** [1][11] - **Future Demand**: Anticipated increase in demand for advanced chip packaging technologies, which will require more CMP and related equipment [1] Valuation and Ratings - **Current P/E Ratio**: Trading at **28x** 2026E P/E, with a target multiple of **32x** based on peer comparisons [1][15] - **Price Target**: Raised by **10%** to **Rmb148.0**, indicating a potential upside of **22.8%** from the current price of **Rmb120.50** [15][24] - **Investment Rating**: Maintained at **Neutral** due to limited upside compared to other semiconductor companies [1][15] Earnings Revisions - **Net Income Estimates**: Revised up by **0%/1%/+2%** for 2025E-27E, reflecting a better product mix [12] - **EPS Revisions**: Adjusted down by **-2%/-1%/0%** for 2025E-27E due to an increase in share count [12] Risks and Considerations - **Key Risks**: Variability in semiconductor capex expansion, order gains from clients, and the pace of new product introductions [22] Additional Insights - **Operational Efficiency**: Operating expenses remained flat at **17.9%** of revenue, contributing to improved operating income [4][10] - **Long-term Potential**: Despite current valuation concerns, the long-term growth potential remains strong due to market trends and product innovations [1][15]