Geopolitical Developments - President Trump announced the U.S. will withdraw from Iran within two to three weeks, claiming that "regime change" has already occurred and that a formal deal is not required for withdrawal [2][9] - An Iranian port near the strategic Strait of Hormuz was struck in a recent attack, but Trump suggested that the waterway's issues will resolve post-exit [3][9] Energy Sector Initiatives - Microsoft is in discussions with Chevron and Engine No. 1 to develop a $7 billion power plant in Texas, expected to produce 2,500 megawatts of electricity [4][9] - The project aims to leverage the Permian Basin's natural gas resources, creating a high-efficiency energy loop by building generation capacity near the fuel source [5] Federal Reserve and Regulatory Changes - Trump reiterated that Federal Reserve Chair Jerome Powell must leave his post "fairly soon," increasing focus on Kevin Warsh as a potential successor [6][9] - The U.S. CFTC has prioritized insider trading in prediction markets and will continue to combat energy market manipulation and anti-money laundering violations [7][9] Global Economic Indicators - Australia's manufacturing sector is struggling, with the S&P Manufacturing PMI falling to 49.8 in March, indicating contraction [10] - The U.K. government introduced new cost-of-living measures, including a significant hike to the National Minimum Wage and National Living Wage [11] - The U.S. is establishing a refund portal to pay back $166 billion in Trump-era tariffs, potentially providing liquidity to affected industries [11]

Core Viewpoint - Ellomay Capital Ltd. reported its indirect share in Dorad Energy Ltd.'s financial results for the year ended December 31, 2025, highlighting the impact of seasonal electricity demand and geopolitical events on revenues and operations [1][3][5]. Financial Performance - Dorad's revenues for the year ended December 31, 2025, were approximately NIS 2,650.5 million, a decrease from NIS 2,863.8 million in 2024 [7][13]. - The operating profit for Dorad in 2025 was approximately NIS 385.4 million, down from NIS 596.4 million in 2024 [7][13]. - Net profit for the year was NIS 148.4 million, compared to NIS 452.3 million in 2024 [13]. Seasonal Demand and Pricing - Electricity demand for Dorad's customers is seasonal, with higher consumption during winter and summer months due to extreme climate conditions [4]. - The TAOZ tariff, which varies by season and time of day, is generally higher in summer, affecting revenue [4]. Geopolitical Impact - The ongoing war situation in Israel, particularly the confrontation with Iran that began on June 13, 2025, has significantly impacted Dorad's operations, leading to a 22% revenue decrease in June 2025 compared to the previous year [5]. - The company continues to monitor the geopolitical situation and its potential effects on operations and asset values [5]. Financial Statements and Reporting - Dorad's financial statements were prepared in accordance with International Financial Reporting Standards and will be included in Ellomay's financial results [3][6]. - A convenience translation of Dorad's financial results was provided to facilitate access for Ellomay's shareholders [3]. Company Overview - Ellomay Capital Ltd. focuses on renewable energy and power generation projects in Europe, Israel, and the USA, with significant investments in various renewable energy sectors [8].

Press release on the filing of the 2025 Universal Registration Document and Annual Financial Report EDF’s Universal Registration Document for the 2025 financial year was filed today with the French financial markets’ authority (Autorité des marchés financiers). The following documents are included in the Universal Registration Document: the 2025 Annual Financial Report; the report of the Board of Directors, including the report on corporate governance, the vigilance plan and information on sustainability; ...

Core Viewpoint - Constellation Energy's stock has declined due to weaker-than-expected earnings guidance and the absence of new data center deals, raising concerns about its growth trajectory in a competitive market [1][2][3]. Earnings Guidance - The company guided for adjusted earnings of $11 to $12 per share in 2026, with the midpoint falling below analysts' estimates of approximately $11.6 to $11.73 per share [3][4]. - Despite strong long-term growth ambitions, including over 20% annual base earnings growth through 2029, the near-term guidance has not reassured investors [4]. Share Buyback and Capital Spending - Constellation announced an expansion of its share buyback program to $5 billion from $3 billion and plans for $3.9 billion in capital spending [4]. Absence of New Deals - A significant factor in the stock's decline was the lack of new agreements to supply power to data centers, which are crucial for Constellation's growth narrative [5][7]. - CEO Joseph Dominguez acknowledged delays in announcing new transactions, which disappointed investors who were expecting major deals [5][6]. Market and Regulatory Challenges - Broader market and regulatory challenges have also impacted the stock, including increasing political scrutiny on data center energy consumption and potential interventions in power markets [9]. - Delays in infrastructure projects and macroeconomic pressures, such as rising interest rates due to the ongoing Iran conflict, have added to the uncertainty surrounding growth-oriented energy plays [10]. Stock Performance - Constellation's stock has declined about 25% this year and is down roughly 32% from its October highs, reflecting a reassessment of its growth outlook after a period of strong gains [11].

Constellation to ask regulators for help speeding up Three Mile Island nuclear power plant restart, CEO says | Reuters Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv The control room at the former Three Mile Island Nuclear power plant during a tour by Constellation Energy in Londonderry Township, Pennsylvania, U.S., June 25, 2025. REUTERS/Eduardo... Purchase Licensing Rights, opens new tabRead more Our Standards: The Thomson Reuters Trust Principles., opens ne ...

Core Insights - Ariel Global Fund achieved a +23.30% return in 2025, outperforming MSCI ACWI and MSCI ACWI Value indices, but lagged in Q4 with a +2.88% return compared to +3.29% and +3.66% for the indices [1] - The positive performance was supported by moderating inflation, easing financial conditions, and resilient corporate earnings, particularly from U.S. mega-cap technology stocks, alongside improvements in Europe, Japan, and a strong rebound in China [1] - Stock selection was the primary driver of performance, with gains in financials and information technology, while consumer discretionary and healthcare holdings faced challenges [1] Company Insights - Eversource Energy (NYSE:ES) is a utility company providing electricity and natural gas in the northeastern U.S., with a market capitalization of approximately $25.71 billion [2] - The stock of Eversource Energy experienced a one-month return of -8.46%, trading between $52.28 and $76.41 over the past 52 weeks, closing at around $68.41 on March 30, 2026 [2] - Ariel Investments initiated a position in Eversource Energy, anticipating operational stability from divestitures and a major offshore wind project, but exited the position when key indicators did not improve [3]

Investor Outreach April 2026 Cautionary Statements Information Current as of February 19, 2026 Except as expressly noted, the information in this presentation is current as of February 19, 2026 – the date of filing IDACORP's and Idaho Power's Quarterly Report on Form 10-k for the year ended December 31, 2025 - and should not be relied upon as being current as of any subsequent date. IDACORP and Idaho Power disclaim any obligation to update this presentation, except as required by applicable law. Forward-Loo ...

There’s more than one way to own a piece of the artificial intelligence sector. Skip the vendors of chips and large language models. Invest in the power supply. Shares of electric utilities under contract with giant data centers are sizzling. The past three years have seen a doubling for Entergy, a quadrupling for Constellation Energy and a sixfold gain for Talen Energy. Riding this electric wave is Jay Rhame, chief executive of W.H. Reaves & Company, a somewhat obscure money manager in Jersey City, New Jer ...

Constellation Energy forecasts 2026 profit below estimates, lifts share buyback plan | Reuters Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Cooling towers at the former Three Mile Island Nuclear power plant during a tour by Constellation Energy in Londonderry Township, Pennsylvania, U.S., June 25, 2025. REUTERS/Eduardo Munoz Purchase Licensing Rights, opens new tab March 31 (Reuters) - Major U.S. power company Constellation Energy (CEG.O), opens new tabforec ...

Their most recent reported quarter showed a profit of $240.5 million, released in late December 2025, translating to net income of $0.51 per share. This result came alongside revenue of $2.96 billion, which surpassed the $2.9 billion that analysts surveyed by Zacks had expected and confirmed healthy underlying demand across its regulated footprint.This utility commands a price-to-earnings multiple of 26.28x and a price-to-cash-flow ratio of 10.80x, compared with sector medians of 20.52x and 9.54x, respectiv ...