Core Viewpoint - The cooling systems manufacturers experienced significant stock declines following comments from Nvidia's CEO regarding reduced demand for their products in data centers [1][2]. Group 1: Stock Performance - Johnson Controls International Plc (JCI) saw its shares drop as much as 11%, marking the worst intraday decline since 2022 [1]. - Modine Manufacturing Co. (MOD) experienced a more severe decline, with shares falling as much as 21% [1]. - Carrier Global Corp. (CARR) and Trane Technologies Plc (TT) also faced stock price reductions, although specific percentages were not provided [1]. Group 2: Nvidia's Comments - Nvidia's CEO Jensen Huang indicated that their next-generation Rubin chips could cool racks using water at temperatures that do not necessitate a water chiller [2]. - Barclays analyst Julian Mitchell emphasized the importance of Nvidia's comments, suggesting that they should not be dismissed lightly due to Nvidia's central role in the AI ecosystem [2].

Core Insights - The article discusses the latest trends and developments in the investment banking sector, highlighting key financial metrics and market movements. Group 1: Financial Performance - Investment banks have reported a significant increase in revenue, with an average growth of 15% year-over-year, driven by strong trading volumes and advisory fees [1]. - The total assets under management (AUM) in the sector have reached $5 trillion, reflecting a 10% increase compared to the previous year [1]. Group 2: Market Trends - There is a growing trend towards digital transformation within investment banks, with 70% of firms investing in technology to enhance operational efficiency [1]. - The demand for sustainable investment products is rising, with a reported 25% increase in ESG (Environmental, Social, and Governance) fund inflows [1]. Group 3: Regulatory Environment - Recent regulatory changes are impacting the investment banking landscape, with new compliance requirements expected to increase operational costs by approximately 5% [1]. - The article notes that firms are adapting to these changes by enhancing their risk management frameworks [1].

Daikin's Growth in the North American Data Center Cooling Market November 27, 2025 Today's Agenda 2 • Data Center Market in North America and Our Strategic Goals • Evolving Cooling Needs and Our Initiatives • Future Outlook North American Data Center Cooling Market Trends and Our Perspective 0 0.5 1 1.5 2 2.5 3 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 North American Data Center Cooling market Trend (company estimate) (T JPY) Approx. ¥1.1T Approx. ¥2.7T 3 Our Business Plan and Strategy 2023 2025 203 ...

Core Insights - Modine has officially opened a new manufacturing facility in Franklin, Wisconsin, aimed at expanding its data center cooling capacity and supporting the growth of digital infrastructure in the U.S. [1][2] - The new 155,000-square-foot facility is part of a multi-year $100 million investment to scale production of Airedale by Modine™ data center cooling solutions, expected to create over 300 new jobs by March 2026 [2][5] - Wisconsin is becoming a data center hub due to its abundant water supply, reliable electricity, and naturally cool climate, which help reduce cooling costs for energy-intensive facilities [4] Company Commitment - Modine's investment reflects a strategic commitment to delivering innovative cooling solutions for mission-critical operations and enhancing its engineering, product development, and testing capabilities [2][5] - The company has a rich heritage in Wisconsin, having been founded in Racine in 1916, and continues to emphasize its local roots while expanding its operations [3][4] Future Expansion - In addition to the Franklin facility, the $100 million investment will also include new manufacturing facilities in Grand Prairie, Texas, and expansions in Grenada, Mississippi, and Jefferson City, Missouri [5] - The expansion is designed to support the growing demand for data center solutions and the evolving needs of the digital economy [4][5]

Q3 2025 Earnings Conference Call November 6, 2025 This presentation includes references to calculations that are not based on generally accepted accounting principles ("GAAP"). Reconciliations of each of those non-GAAP measures to the most directly comparable GAAP measures have been included in the Appendix. When forward-looking non-GAAP measures are provided, the Company does not provide quantitative reconciliations of forward-looking non-GAAP measures to the most directly comparable GAAP measures, because ...

Financial Performance - The company achieved organic sales growth of 6% for the full year 2025[9], and 4% for Q4 2025[22], demonstrating broad-based strength across its operations[9] - Adjusted Segment EBITA margin expanded by 100 basis points to 171% for the full year 2025[9], and 20 basis points to 188% for Q4 2025[22] - Adjusted EPS increased by 17% year-over-year[9] from $321 in FY24 to $376 in FY25[39], successfully offsetting dilution from the R&LC divestiture[9] - Adjusted free cash flow conversion was strong at 102% for the full year 2025[9], validating disciplined capital allocation[9] - Q4 2025 adjusted EPS increased 14% year-over-year, from $111 to $126[24] Orders and Backlog - Orders grew by 7% for the full year 2025, with strong performance in the Americas offsetting softness in China[9] - Backlog grew by 13% to approximately $15 billion, providing visibility into future growth[9] Future Outlook - The company initiated FY26 adjusted EPS guidance of approximately $455, representing over 20% growth[9] - The company expects adjusted free cash flow conversion of approximately 100% for FY26[9] - For Q1 2026, the company anticipates organic revenue to be up approximately 3% and adjusted EPS to be approximately $083[43]

Core Insights - Johnson Controls International plc reported fiscal Q4 2025 GAAP earnings per share (EPS) of $0.42 and adjusted EPS of $1.26, with Q4 sales increasing by 3% to $6.4 billion and organic sales rising by 4% [2][11] - The company achieved a record backlog of $15 billion, reflecting a 13% increase year-over-year, driven by sustained demand in core verticals [4][11] - Full year sales reached $23.6 billion, marking a 3% increase, while organic sales grew by 6% [2][11] Financial Performance - Q4 net income from continuing operations attributable to Johnson Controls was $267 million, with adjusted net income at $798 million [3] - Total cash provided by operating activities was $968 million, with free cash flow at $838 million and adjusted free cash flow at $710 million [19] - The company paid dividends totaling $243 million and initiated accelerated share repurchase transactions amounting to $5.0 billion [19] Segment Results Americas - Q4 sales in the Americas segment were $4.3 billion, a 1% increase from the previous year, with organic sales up by 3% [6] - Segment EBITA margin improved to 19.5%, reflecting productivity gains despite transformation costs [7] EMEA (Europe, Middle East, Africa) - EMEA segment sales increased by 13% to $1.3 billion, with organic sales growing by 9% [8] - Segment EBITA margin expanded to 15.0%, benefiting from positive operating leverage [9] APAC (Asia Pacific) - APAC segment sales declined by 3% to $780 million, with organic sales also down by 3% due to lower volumes in China [10][12] - Segment EBITA margin decreased to 17.8%, reflecting pressures on factory absorption [12] Corporate Developments - The company completed the sale of its Residential and Light Commercial HVAC business to Bosch Group for $8.3 billion, with Johnson Controls receiving approximately $6.9 billion [19][25] - Corporate expenses increased significantly, with GAAP expenses at $269 million, a 105% rise compared to the previous year [13] Guidance and Future Outlook - The company initiated guidance for fiscal 2026, projecting organic sales growth in mid-single digits and adjusted EPS of approximately $4.55 [20] - The deployment of proprietary business systems is expected to enhance the company's ability to deliver consistent results and long-term value [4]

Core Viewpoint - Flex and LG Electronics have formed a partnership to develop integrated, modular cooling solutions aimed at addressing the thermal management challenges faced by AI-era data centers [2][4]. Group 1: Partnership Details - The collaboration will leverage Flex's liquid cooling portfolio and power products alongside LG's high-performance air and liquid cooling modules, including CRAC, CRAH, chillers, and coolant distribution units (CDUs) [4][8]. - The partnership aims to provide data center operators with customizable solutions that can scale with demand, enhancing efficiency and deployment speed [5][6]. Group 2: Technological Advancements - Advanced cooling technologies are essential for efficient heat dissipation in high-density data centers, which are increasingly necessary due to the rise of AI workloads [4][8]. - The integrated solutions will ensure reliable temperature control, maximize energy efficiency, and facilitate rapid deployment of high-density AI workloads [5][6]. Group 3: Market Positioning - This partnership is part of Flex's strategy to enhance its competitiveness in the AI data center market by collaborating with leading global companies [6]. - The co-developed solutions will be included in the Flex AI infrastructure platform, which integrates power, cooling, compute, and services into modular designs [6][8].

Core Insights - AAON, Inc. has appointed Roberto Giacomelli as Senior Vice President of Operations, responsible for overseeing operations at five manufacturing facilities across the U.S. [1][2] - Giacomelli brings over 24 years of experience in manufacturing operations, particularly in the automotive and HVAC industries, with a focus on operational excellence and team performance [2][3] - The company emphasizes its commitment to high-performance and energy-efficient HVAC solutions, aiming to enhance customer value through improved operations [4][6] Company Overview - AAON, founded in 1988, is a leader in HVAC solutions for commercial and industrial indoor environments, known for its highly configurable equipment [4] - The company is headquartered in Tulsa, Oklahoma, featuring an innovation center and testing lab to advance HVAC technology [4] Leadership Vision - Giacomelli expressed enthusiasm for AAON's leadership vision and the talent within the company, aiming to drive operational improvements and customer value [4]

Core Insights - Carrier Global Corporation will participate in the Baird 2025 Global Industrial Conference on November 12, 2025, with Chairman & CEO David Gitlin and Senior Vice President & CFO Patrick Goris speaking [1] - The company is recognized as a global leader in intelligent climate and energy solutions, focusing on innovations that enhance comfort, safety, and sustainability [2] Company Overview - Carrier Global Corporation has a long history of innovation, having invented modern air conditioning in 1902, and continues to lead in climate solutions such as temperature control and air quality [2] - The company emphasizes an inclusive workforce that prioritizes customer needs in its operations [2] Financial Updates - Carrier's Board of Directors has approved a $5 billion share repurchase authorization, indicating confidence in the company's financial health and future prospects [5]