Core Insights - Kennametal Inc. has announced a new integration with Hexagon's cloud-based Tool Library, enhancing access to verified digital tooling data for machinists [1][3] - The collaboration aims to deliver faster and smarter machining solutions by combining Kennametal's tooling expertise with Hexagon's advanced Computer-Aided Manufacturing (CAM) technology [1][3] Company Overview - Kennametal Inc. has over 85 years of experience as an industrial technology leader, focusing on materials science, tooling, and wear-resistant solutions [5] - The company generated $2 billion in revenues in fiscal 2025 and employs approximately 8,100 people across nearly 100 countries [5] Integration Details - The integration allows machinists to import Kennametal tooling data into Hexagon's WORKNC CAM software, which reduces setup time and improves machining accuracy [2][3] - Currently, the integration supports solid carbide drills and end mills, with plans for expansion to additional CAM systems and product lines in the future [3] Hexagon Overview - Hexagon is a global leader in measurement technologies, providing solutions that ensure productivity, quality, safety, and sustainability across various industries [4] - The company has approximately 24,800 employees in 50 countries and reported net sales of approximately 5.4 billion EUR [4]

Industry Trends & Demands - The economy is energy-thirsty, with significant demand on the electric grid due to AI data center projects [1] - Electrification demand in the market cannot be met without manufacturers like Alamo, a large bushing manufacturer [2] - Demand for electricity throughout North America has never been greater [5] Workforce & Manufacturing - There is a shortage of engineers as manufacturing scales up across the US [4] - Manufacturing requires mechanical, quality engineers, and overall workforce support [1] - Hitachi is a premier manufacturing operation in West Tennessee [6] Education & Partnerships - Collaboration between manufacturers and educational institutions is crucial for success [4] - Union University in Jackson, Tennessee, has a strong engineering program and partners closely with manufacturers [5] - Mentorship programs, like the one between Susie and Oscar, are vital for developing talent [3] Location & Community - West Tennessee is at the center of conversations about the future of energy, advanced manufacturing, and education [4] - Jackson, Tennessee, offers a desirable lifestyle for young engineers with social opportunities [6] - The community at Hitachi feels like family [2] Operational Excellence - Alamo achieved zero downtime yesterday [2]

Perhaps obvious, but a chosen specialization for a city (like hair dryers) is very different from a given specialization (like a coal mine).The former is manufacturing, the latter is mining. You can’t choose the distribution of natural resources, but you can make the best of what you have.Original video:International Cyber Digest (@IntCyberDigest):China’s industry is a different beast 🤯Every product and its supply chain are tied to one huge city the size of a nation, Eric explains.This is why other nations ...

Global Economic Outlook - The global economic growth outlook is bleak, with the IMF projecting a slowdown in 2026 due to rising protectionism and prolonged uncertainty [1][10][27] - Global economic activity is expanding modestly, primarily driven by the services sector, but tariff pressures are constraining trade and manufacturing [12][34] China - China's economic growth is losing momentum, with manufacturing contracting for seven consecutive months, the longest period in over nine years [42][44] - Retail sales growth is significantly below pre-pandemic levels, and GDP growth is expected to slow from 4.8% in 2025 to 4.4% in 2026 without substantial stimulus measures [1][42] - The real estate slump and oversupply issues continue to pose challenges, with recovery efforts expected to take time [44][51] United States - The U.S. economy is projected to grow moderately at 2.1% in 2026, slightly up from 2.0% in 2025, supported by fiscal expansion and service sector activity [2][21] - Labor market slowdown and various risks, including political uncertainty and tariff impacts, are expected to cloud the economic outlook [21][27] - The Federal Reserve is anticipated to lower the federal funds rate to a range of 3.25%-3.50% amid sticky inflation and economic headwinds [21][27] Eurozone - The Eurozone is expected to continue its recovery with modest GDP growth of 1.1% in 2026, supported by fiscal policies and an expanding service sector [28][30] - However, persistent weaknesses in manufacturing and external demand due to geopolitical tensions may weigh on overall growth [28][34] Japan - Japan's economy shows potential for recovery, bolstered by fiscal stimulus and strong service sector activity, despite challenges from weak manufacturing and global demand [3][35] - The government has introduced a JPY 21.3 trillion stimulus package to address inflation and promote growth [3][37] - The Bank of Japan is expected to cautiously normalize its monetary policy as inflation remains above the target [38][41] Thailand - Thailand's economic growth is projected to slow to 1.8% in 2026, the lowest in five years, due to the impact of U.S. tariffs and global trade tensions [3][52] - The tourism sector is recovering but has not yet returned to pre-pandemic levels, and domestic political uncertainties may affect public spending [3][52] - Stimulus measures and growth in emerging industries may provide some support to the economy [3][52]

Group 1: Economic Data and Market Trends - The Labor Department's nonfarm payroll report is expected on Tuesday, with a strong jobs report potentially questioning the need for more rate cuts from the Federal Reserve, while weaker figures could support continued easing [3] - Wall Street has been largely unaware of macroeconomic data due to a lengthy government shutdown, making upcoming reports critical for market direction [3][2] Group 2: Company Earnings Reports - Jabil, a major manufacturer for data centers, is set to report earnings on Wednesday, which could influence the performance of AI stocks [4] - General Mills will also report on Wednesday, with recent struggles in food stocks attributed to the popularity of GLP-1 weight loss drugs and a shift towards healthier eating [4] - On Thursday, Darden, Cintas, Nike, and FedEx will report earnings, with Darden's Olive Garden chain being less affected by rising beef prices, and FedEx expected to perform well due to ongoing e-commerce growth [5] - Friday will see earnings from Carnival, Conagra, and Paychex, providing insights into discretionary spending, home cooking trends, and the health of small and medium-sized businesses [6]

Core Viewpoint - NN, Inc. has formed a Strategic Committee to explore various strategic and financial alternatives aimed at enhancing shareholder value [1][2][3] Group 1: Strategic Committee Formation - The Strategic Committee consists of three independent directors: Raynard Benvenuti, Jeri Harman, and Thomas Wilson [2] - The committee's role is to evaluate a wide range of strategic, financial, and business configuration options for the company [2] Group 2: Company Achievements and Future Focus - The Board's decision reflects a commitment to maximizing shareholder value, with recent accomplishments including strengthening the executive team, expanding operating income and EBITDA, and building a new sales pipeline exceeding $800 million [3] - The company has secured approximately $200 million in new business, entered medical and data center markets, and developed a healthy M&A pipeline [3] - NN is positioned for growth and aims to advance its transformation plan while delivering high-quality products and services [3] Group 3: Advisory Engagement - NN has engaged Houlihan Lokey as its financial advisor to assist in the strategic review process [2] - There is no set timetable for the completion of the review, and the company will provide updates only upon the Board's approval of specific actions [3]

Market Overview - The stock market experienced a significant rally with the Dow rising by 646 points and the S&P 500 advancing by 1%, while the NASDAQ, heavily weighted with tech stocks, declined by 26 points [2] - Following a recent Federal Reserve rate cut, money managers shifted their investments towards stocks that would benefit from lower rates, leading to a sell-off in tech stocks [3] Impact of Rate Cuts - Lower interest rates are expected to boost consumer spending, particularly benefiting discretionary sectors such as cruise lines and retail [4] - Home improvement and construction sectors are also anticipated to thrive due to lower financing costs, with companies like Home Depot seeing positive movement [5][6] - Industrial stocks typically respond favorably to rate cuts, with companies like 3M, DuPont, and Dover showing gains [8] Sector Performance - Transportation stocks, including JB Hunt and FedEx, are expected to perform well in the days following a rate cut, with FedEx potentially experiencing a breakout quarter [9] - Banks are shifting focus from net interest income to lending potential, with Wells Fargo and Capital One highlighted as favorable options [10][11] Company-Specific Insights - Apple, Meta, and Tesla, which have only seen a 10% increase this year, are not expected to benefit significantly from lower rates, with Apple viewed as an underperformer in the current market [14][17][19] - Meta's stock performance is described as listless, with the company needing to communicate its value proposition more effectively [18] - Tesla is transitioning from an auto manufacturer to a tech leader, with its stock performance becoming less correlated with traditional auto industry metrics [19] Investment Strategy - The current market environment favors stocks that are direct beneficiaries of rate cuts, leading to a general decline in tech stocks as money managers focus on sectors like industrials and banks [21][22] - Investors are advised to follow the flow of capital in the market, as hedge funds tend to move in unison, impacting stock performance [23][30]

Core Points - Preformed Line Products has announced a 5% increase in its quarterly cash dividend, raising it from $0.20 to $0.21 per share, payable on January 20, 2026 [1][2] - This marks the first dividend increase since the company went public on NASDAQ in 2001, reflecting strong liquidity and a commitment to returning capital to shareholders [2][3] - The management emphasizes confidence in the company's ability to generate consistent cash flows while balancing reinvestment and shareholder returns [3] Financial Performance - The increase in the dividend highlights the strength of the company's balance sheet and resilience of its business model [3] - The company has a long-standing history of returning capital to shareholders through dividends and share repurchases [3] Strategic Outlook - Management will evaluate further dividend increases based on operating results and business outlook, indicating a disciplined approach to capital allocation [3] - The company operates in 20 countries, providing precision-engineered solutions for energy and communications providers, which underscores its global presence and commitment to quality [5]

Core Viewpoint - The BBH Select Series - Mid Cap Fund experienced a decline in Q3 2025, underperforming the Russell Midcap Index, which indicates challenges in the mid-cap investment space during this period [1]. Fund Performance - The fund decreased by -0.9% on a total return basis in Q3 2025, while the Russell Midcap Index returned 5.3% [1]. - Year-to-date, the fund has a total return of -1.8%, compared to a 10.4% return for the Index [1]. - The third quarter saw a continuation of a low-quality rally that began late last year, gaining momentum throughout 2025 [1]. Company Focus: ITT Inc. - ITT Inc. (NYSE:ITT) was highlighted as a key stock in the fund's Q3 2025 investor letter [2]. - The one-month return for ITT Inc. was -6.97%, but it gained 12.95% over the last 52 weeks [2]. - As of December 10, 2025, ITT Inc. closed at $171.87 per share, with a market capitalization of $14.607 billion [2]. Investment Decisions - The fund initiated two new positions in Q3 2025: ITT Inc. and BJ's Wholesale Club Holdings Inc. [3]. - The fund exited positions in Globant, Bruker, and Bright Horizons Family Solutions Inc. during the same quarter [3].

Core Viewpoint - ITT Inc. has successfully closed a public offering of 8,050,000 shares of common stock, raising approximately $1.31 billion in net proceeds, which will primarily fund the acquisition of SPX FLOW, Inc. [1][2] Group 1: Offering Details - The public offering price was set at $167.00 per share, including the full exercise of the underwriters' option to purchase an additional 1,050,000 shares [1] - Goldman Sachs & Co. LLC and UBS Investment Bank served as lead book-running managers for the offering, with several other banks acting as additional bookrunners and co-managers [3] Group 2: Use of Proceeds - The net proceeds from the offering are intended to fund a portion of the acquisition of SPX FLOW, Inc. If the acquisition does not proceed, the funds will be allocated for general corporate purposes [2] Group 3: Company Overview - ITT is a diversified manufacturer specializing in critical components and customized technology solutions for transportation, industrial, and energy markets, with a global presence in over 35 countries [6]