It's a banking startup using AI to streamline workflow in M&A transactions, fasttrack junior bankers in the process, and so much more. Joining us right now is Ory Alodorov. Did I pronounce that correctly or no.Did I butcher your name correct. Yeah, yeah, sorry. Now I'm looking at you and I'm I'm really butchering the whole situation.CEO of Offde also Sam uh Mil, am I getting that right. Okay. Um it's it's nice to see both of you.Explain for those who don't know um what this is and how it works. Yeah. So, OV ...

Group 1: Company Highlights - Celestica (CLS) is one of the largest electronics manufacturing services companies globally, serving various industries, with a 9.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - SB Financial Group (SBFG) is a financial services holding company providing a full range of services for consumers and small businesses, also experiencing a 9.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - HomeTrust Bancshares (HTB) focuses on attracting deposits and investing in loans secured by mortgages, with a 7.9% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - Houlihan Lokey (HLI) is a global investment bank specializing in mergers and acquisitions, with a 6.5% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [4] - Udemy (UDMY) offers online courses across various subjects, with a 4.7% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [5]

Core Viewpoint - Wendel is planning to launch a potential €500 million 8-year bond issue, subject to market conditions, and intends to redeem existing bonds maturing in February 2027 with an outstanding principal of €500 million [1][2]. Group 1: Bond Issue Details - The new bond issue, referred to as the "2033 Bond Issue," is expected to have a nominal amount of €500 million and will be conducted by several financial institutions including Crédit Agricole Corporate and Investment Bank and Société Générale [1][3]. - Wendel plans to exercise an early make-whole redemption option on the existing bonds with a 2.50% interest rate, maturing in February 2027, at a price determined by the bond's terms and conditions [2][3]. Group 2: Financial Strategy - The transactions related to the bond issue will allow Wendel to extend the average maturity of its bond debt, enhancing its financial flexibility [3].

Group 1 - The essence of finance is to facilitate the flow of money, making it more valuable as it moves faster, further, and more securely [1] - The banking business involves borrowing today's money for tomorrow's needs, where banks earn interest from loans after paying interest on deposits [3] - Capital markets operate similarly by allowing individuals to invest idle money in companies or governments, generating returns through various financial instruments [3] Group 2 - Financial institutions generate profits through three main methods: earning spreads (buy low, sell high), charging service fees, and capturing risk premiums [5] - Investors should be cautious and consider risks before focusing solely on returns, as high-return promises often indicate potential pitfalls [7] - Understanding financial products and strategies, such as dollar-cost averaging, can empower individuals to make informed investment decisions over time [7] Group 3 - Financial concepts are prevalent in everyday life, from payment apps to shared services, highlighting the importance of understanding financial mechanisms [9] - The goal of financial literacy is not to become a Wall Street expert but to navigate the financial landscape effectively and avoid being overwhelmed by market fluctuations [9]

Core Insights - Wall Street Breakfast serves as a daily financial news summary, providing a quick overview of key market developments [1] Company and Industry Summary - The newsletter is designed for easy readability, catering to over 1 million subscribers, including professionals from investment banking and fund management [1] - It is published before 7:30 AM ET on every market day, ensuring timely delivery of financial news [1]

Core Viewpoint - Oppenheimer reported strong financial results for Q2 2025, with significant growth in revenue and net income, driven by Capital Markets and Wealth Management performance [1][5]. Financial Performance - Revenue increased by 12.9% to $373.2 million in Q2 2025 compared to $330.6 million in Q2 2024 [2]. - Net income more than doubled to $21.7 million in Q2 2025, with pre-tax income at $32.2 million, up 103% year-over-year [2][5]. - Diluted EPS rose to $1.91 from $0.92, marking a 107.6% increase [2]. Segment Performance - Wealth Management revenue grew by 5.1% to $246.4 million, while Capital Markets revenue surged by 33.6% to $123.0 million [2]. - Capital Markets experienced a significant turnaround, with advisory fees up 83.0% and sales and trading revenue improving [8]. - Despite revenue growth, Wealth Management pre-tax income declined by 2.2%, indicating margin pressure [7]. Strategic Focus - The company is focused on growing asset-based revenues and expanding its middle-market investment banking franchise [4]. - Key success factors include attracting high-net-worth clients, maintaining stable regulatory capital, and controlling costs [4]. Market Dynamics - The growth in client holdings was primarily market-driven, with a net distribution outpacing new deposits by $3.6 billion [6]. - Regulatory net capital at the broker-dealer unit decreased to $408.9 million from $460.7 million in Q2 2024 [9]. Dividend and Shareholder Value - A quarterly dividend of $0.18 per share was declared, consistent with the previous period [10]. - Book value per share reached a new high of $85.27, reflecting stronger earnings and capital position [10]. Future Outlook - Management expressed optimism for continued deal flow if market conditions stabilize, although no numerical guidance was provided for the remainder of fiscal 2025 [11]. - Investors should monitor trends in organic asset growth, rising compensation ratios, and adviser retention [12].

Company Overview - Binary Tree Analytics (BTA) has a background in investment banking cash and derivatives trading, focusing on providing transparency and analytics for capital markets instruments and trades [1] - BTA specializes in Closed-End Funds (CEFs), Exchange-Traded Funds (ETFs), and Special Situations, aiming to deliver high annualized returns with a low volatility profile [1] - The company has over 20 years of investment experience, having obtained a Finance major from a top university [1]

The last Trump term, you did see the conversation start to slowly take off. We didn't get there, but now it looks like it's much more serious. Yes.You mentioned the top bankers at the US banks. These are the CEOs. These are the leaders of the biggest US firms that we have here.So we saw them. And these meetings continue with Donald Trump. We do not know the specifics because that is exactly what Trump wants to hear from these leaders.He's bringing them in one by one, and he's essentially asking them to pitc ...

Financial Data and Key Metrics Changes - Net investment income was stable at $0.25 per share compared to $0.26 per share in the prior quarter [4] - Net asset value (NAV) decreased to $10.91 per share from $11.97 per share in the prior quarter, primarily due to a decline in equity investments [4][13] - Total investment income increased approximately 2% to $10,500,000, driven by non-recurring fee income and a modest improvement in loan portfolio yield [15] - Total expenses increased by approximately 5% to $7,200,000, leading to a slight decline in net investment income [12][15] Business Line Data and Key Metrics Changes - The health of the credit portfolio remains stable with no new non-accruals reported [5][20] - The loan portfolio is primarily composed of 70% senior secured loans, 23% structured finance securities, and 7% equity securities [18] - The weighted average performing investment income yield increased to 13.6%, up about 0.2% quarter over quarter [18] Market Data and Key Metrics Changes - The regulatory asset coverage ratio decreased to 160%, a decline of five percentage points from the prior quarter [14] - 74% of outstanding debt was unsecured at the end of the quarter [10][14] Company Strategy and Development Direction - The company is focused on improving long-term net investment income by rotating non-interest earning equity positions into interest-earning assets [5][20] - There is a commitment to maintaining a diversified portfolio and investing higher in the capital structure, with 100% of the loan portfolio in first lien and second lien senior secured loans [8][20] - The company is cautious in deploying new capital due to subdued M&A activity and macroeconomic uncertainty [9][20] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the current quality of the portfolio despite economic uncertainties surrounding tariffs and U.S. monetary policy [7][20] - The company believes its portfolio is defensively positioned to withstand current macroeconomic pressures [20] - Management highlighted the importance of capital preservation during uncertain economic times [21] Other Important Information - The company completed a $69,000,000 unsecured note offering with a 7.5% coupon, maturing in July 2028, to refinance existing debt [10][14] - The advisor managing the company has a strong track record and maintains approximately 23% ownership in the company, aligning interests with shareholders [22] Q&A Session Summary - The Q&A session was opened but no specific questions or answers were documented in the provided content [23]

Financial Data and Key Metrics Changes - The company reported second quarter revenues of $155 million and first half revenues of $367 million, with first half revenues flat year-over-year [4] - Adjusted compensation margin remained at 67% of revenues, while adjusted non-compensation expense for the quarter was $36 million, a significant drop from the prior year [9][10] - Compensation expenses for the first half totaled $86 million, up 9.5% from the same period last year, with a mid-single-digit increase expected for the full year [10] Business Line Data and Key Metrics Changes - The business broadened out by industry, product, and geography, resulting in a higher average fee per engagement [4] - The acquisition of Devon Park Advisors is expected to significantly enhance the company's private funds advisory capabilities, impacting revenue mix positively [7][8] Market Data and Key Metrics Changes - The company noted that while transactions are taking longer to convert into announcements, there is a growing level of client dialogue and related mandates [5] - The restructuring business is trending toward a record year, indicating strong activity levels despite previous market uncertainties [52] Company Strategy and Development Direction - The company is focused on building its business through significant investments in senior talent, with plans to add six partners and three managing directors by year-end [6] - The acquisition of Devon Park Advisors aligns with the company's strategy to enhance its service offerings to alternative asset managers, reflecting a commitment to growth in private capital [7][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a broader acceleration in announcements, despite current challenges in closing large transactions [5] - The tone of client engagement has improved since April and May, with a return to more typical announcement cadence observed in July [18] Other Important Information - The company returned an additional $24 million to equity holders in the second quarter through various means, including dividends [10] - The company has maintained a quarterly dividend of $0.07 per share and has returned over $675 million to equity holders since going public [11] Q&A Session Summary Question: Clarification on gross fee backlog and engagement momentum - Management clarified that backlog refers to announced and pending transactions, while the pipeline includes all engagement activity, which is currently at peak levels [16][17] Question: Revenue outlook for the remainder of the year - Management refrained from providing specific revenue guidance but expressed confidence in broadening the revenue base and improving engagement levels [31][33] Question: Large cap deal outlook and restructuring activity - Management noted an increase in large-scale transactions and strong activity in the restructuring business, indicating a positive trend moving forward [48][52] Question: Hiring scale and capital return aspirations - Management indicated no limitations on hiring more partners and managing directors, focusing on cultural fit and strategic alignment [58][62]