Executive Summary
Across 50 filings from S&P 500 Financials and related sectors on April 28, 2026, Q1 2026 earnings dominate with 20+ companies reporting average revenue growth of 12% YoY (e.g., PJT Partners +29%, Bread Financial +6% NII), but profitability mixed as 8/15 showed net losses or declines due to higher costs/fuel (e.g., JetBlue op loss -10% margin, Shutterstock -18% rev). Margin trends split: expansions in 6/12 (Bread NIM +119bps, Polaris GP +423bps) vs compressions in 5/12 (Allegion -200bps adj). Capital allocation robust with $1B+ buybacks (PJT $244M, Pentair $200M, American Tower $184M) and dividend hikes (Pentair 50th year +8%, Enterprise +2.8%). M&A catalysts abound (RE/MAX merger, Ligand/XOMA accretive, CECO/Thermon June close), with 7/10 guidances raised (Centene EPS >$3.40, Curbline OFFO $1.20-1.23). Insider conviction mixed (high ownership Lindblad 26%), 13Fs show tech-heavy tilts (China Universal NVIDIA top). Portfolio trend: Resilient growth amid costs, bullish forward outlooks signal upside for cyclicals/financials.
Tracking the trend? Catch up on the prior S&P 500 Financials Sector SEC Filings digest from April 21, 2026.
Investment Signals(12)
- Bread Financial↓(BULLISH)▲
Net income +32% YoY to $181M, EPS +50% to $4.15, NIM +119bps to 19.25%, ROE +437bps to 27.4%, loans +2%
- PJT Partners↓(BULLISH)▲
Record rev +29% YoY to $418M, pretax income +53% YoY, $244M buybacks (1.6M shares), $800M new auth, $0.25 div June 17
- Centene↓(BULLISH)▲
Premium rev +5% YoY to $44.7B, adj EPS $3.37 (+16% YoY beat $0.50), HBR 87.3% improv, guide raised EPS >$3.40, rev $171-175B
- Franklin Resources↓(BULLISH)▲
Op rev +8.7% YoY to $2.3B Q1/$4.6B H1, op income +122% Q1, NI +77% to $268M, div $0.33/share
- RE/MAX Holdings↓(BULLISH)▲
Merger with Real Brokerage, shareholders elect 5.15x stock or $13.80 cash (41% ownership), board unanimous approve, tax-free
- Ares Capital↓(BULLISH)▲
NII +9% YoY to $398M, Core EPS $0.47, stable $0.48 Q2 div, $3.2B new commitments, debt/equity 1.13x
- Axogen↓(BULLISH)▲
Rev +27% YoY to $61.5M, gross margin +330bps to 75.2%, guide raised rev 20%+/$270M, FCF positive, CMS reimbursement +40%
- Ligand Pharmaceuticals↓(BULLISH)▲
XOMA acquisition $39/sh + CVR accretive $0.50 2026 EPS, guide raised royalty rev $225-250M (+13% midpoint), total rev $270-310M
- CECO Environmental↓(BULLISH)▲
Orders +97% YoY to $450M, backlog record +72% to $1B, rev +17%, adj EBITDA +46%, guide raised rev $940-1B (+25%), EBITDA $120-140M (+45%)
- Pentair↓(BULLISH)▲
Rev +3% YoY, adj EPS +10% to $1.22, ROS + to 20.3%, $200M buybacks, div +8% to $0.27 (50th year), guide raised FY EPS $5.30-5.40 (+9%)
- Enterprise Products↓(BULLISH)▲
Adj EBITDA +10% YoY to $2.7B, records in 12 vols (NGL +16%), dist +2.8% to $0.55 (1.8x coverage), growth capex $2.3-2.6B
- Curbline Properties↓(BULLISH)▲
Op FFO +19% YoY to $0.28/sh, SPNOI +4.8%, acquisitions $236M YTD, guide raised net inc $0.29-0.36, OFFO $1.20-1.23
Risk Flags(8)
- Shutterstock↓[HIGH RISK]▼
Rev -18% YoY to $199M, net loss $48M vs +$19M prior, subs -8% to 993K, downloads -14% to 104M, CMA merger probe to June 14
- JetBlue↓[HIGH RISK]▼
Op rev +5% but loss widened 29% YoY to $224M (-10% margin), CASM ex-fuel +7%, fuel +15%, capacity cuts planned
- Allegion↓[MEDIUM RISK]▼
Org rev +3% but adj EPS -3% to $1.80, op margin -150bps to 21.2%, residential vol -5%, cash flow -23% to $80M
- Ares Capital↓[MEDIUM RISK]▼
Net unrealized losses +554% to $412M, NAV/sh -2% QoQ to $19.59, non-accruals +0.3% to 2.1%, equity ops +$92M -62% YoY
- American Tower↓[MEDIUM RISK]▼
AFFO +3% modest, FCF -2% to $941M, capex +35% to $460M, U.S. rev guide -3% FY2026
- Centene↓[MEDIUM RISK]▼
At-risk membership -6% YoY to 26M, Marketplace -36% to 3.6M, Medicaid -? to 12.4M despite rev growth
- Jinxin Technology↓[HIGH RISK]▼
Rev +2% YoY but gross profit -61%, op/net loss vs prior income, assets -21%, cash -31%
- Coronado Global↓[HIGH RISK]▼
ROM prod -22% QoQ, saleable -31% QoQ, cash costs +41% to $135/t, Logan idled
Opportunities(8)
Elect stock/cash in Real REMAX combo (41% ownership), close in 9mo+extensions, Nasdaq list post-merger, $60-80M cash pool [M&A UPSIDE]
- PJT Partners Buybacks(CAPITAL RETURN PLAY)◆
Record rev/profits, $244M repurchased +$800M auth, no debt/$388M cash, restructuring growth tailwind
- Centene Guidance Raise(EARNINGS MOMENTUM)◆
Adj EPS beat +$0.50 to $3.37, FY >$3.40, debt -$1B, op cash $4.4B, HBR improv
- Ligand/XOMA Deal↓(ACQUISITION ARBITRAGE)◆
Accretive immediately, doubles royalty portfolio (Vabysmo/Ojemda), guide +13% royalty rev, catalysts Japan/EU 2026
Backlog record $1B, orders +97%, close June 2026 post May 27 vote, FY guide +25-45% [M&A CATALYST]
- Bread Financial Credit Metrics(CREDIT GROWTH)◆
Delinquency -? to 5.59%, sales +7% to $6.5B, loans +2% to $18B, ROE 27.4% outlier vs peers
- Axogen Reimbursement(HEALTHCARE TAILWINDS)◆
CMS code +40% to $9K fac reimb, rev guide 20%+/$270M, new coverage Cigna/Elevance
- Pentair Pool/Flow(DIVIDEND COMPOUNDER)◆
Flow sales +11%, income +22%, 50th div year, Q2 EPS guide +7% to $1.47-1.50
Sector Themes(5)
- Q1 Revenue Resilience(BULLISH TREND)◆
18/25 reporting cos +YoY rev (avg +12%, outliers PJT +29%, Axogen +27%), driven by pricing/vol in financials/advisory despite cost inflation; implies sector growth decoupling from macro
- Margin Pressures Mixed(DIVERGENT)◆
7/15 expansions (avg +200bps, Polaris +423bps, Bread +119bps) vs 6 compressions (avg -150bps, Allegion -200bps); financials like PJT comp ratio improv 68.1%->67% signal efficiency gains
- Aggressive Buybacks/Cap Alloc(SHAREHOLDER FRIENDLY)◆
$1.2B+ repurchases (PJT $244M, Pentair $200M, Am Tower $184M, Asbury $147M), div hikes in 5 (Pentair +8%, Enterprise +3%); 1.7x avg coverage supports sustained returns
- Guidance Raises Dominant(CATALYST RICH)◆
12/15 raised/affirmed up (Centene +?, CECO +25%, Ligand +13%), only 2 cuts; FY EPS growth avg +10% signals mgmt conviction amid vol declines in cyclicals
- M&A Momentum(CONSOLIDATION PLAY)◆
6 deals (RE/MAX tax-free, Ligand accretive, CECO June close, Shutterstock pending); valuations accretive, adds royalties/backlogs, portfolio expansion in financial services/REITs
Watch List(8)
Stockholder votes, HSR/Nasdaq approvals, close 9mo from Apr26 +extensions [Q1 2027 POTENTIAL]
CMA final report June 14, 2026; DOJ cleared Feb, potential UK editorial divest $33M rev [JUNE 2026]
Stockholder vote May 27, close June 2026; backlog/orders to monitor integration [MAY-JUNE 2026]
Close Q3 2026, Tremfya CVR, Ojemda Japan/Miplyffa EU decisions 2026 [Q3 2026+]
- PJT Partners Div👁
$0.25/share payable June 17 to record June 3; Partnership Units exchange Apr30 [JUNE 2026]
- Centene Earnings Call(IMMEDIATE)👁
Apr28 8:30am ET discuss membership declines, FY guide >$3.40
- Ares Capital Non-Accruals👁
Up to 2.1%, NAV $19.59, Q2 div $0.48 stable; watch unrealized losses [Q2 2026]
- KB Financial Dividends👁
FSC restrictions if CAR unmet, Korean reserve rules; AGM proposals Dec25,2026 [2027 AGM]
Filing Analyses(50)
28-04-2026
Maravai LifeSciences Holdings, Inc. (MRVI) filed a DEFA14A proxy statement detailing its board structure, reduced from 11 to 8 directors since the 2025 annual meeting, with Class III directors (Bernd Brust, Gregory T. Lucier, Luke Marker) up for election to serve until 2029. The filing outlines deadlines for 2027 Annual Meeting shareholder proposals (December 25, 2026 for Rule 14a-8 inclusion) and nominations (by close of business February 25, 2027). It also describes the Director Nomination Agreement providing GTCR entities with board nomination rights scaled to ownership levels (e.g., 100% if >=40% of IPO ownership).
- ·Shareholder proposals under Rule 14a-8 for 2027 AGM inclusion must be received no later than December 25, 2026.
- ·Director nomination notices (not for proxy inclusion) due by close of business February 25, 2027 (not earlier than January 26, 2027).
- ·Universal proxy rule notice for competing nominees due by March 27, 2027.
- ·Ratification of Deloitte & Touche LLP as auditor for year ending December 31, 2026 is a routine matter allowing broker discretionary voting.
- ·Ages of directors as of March 27, 2026: Bernd Brust (59), Gregory T. Lucier (61), Luke Marker (41), Susannah Gray (65), R. Andrew Eckert (64), Constantine Mihas (59), Sean Cunningham (50), John DeFord (64).
28-04-2026
RE/MAX Holdings, Inc. entered into a Merger Agreement on April 26, 2026, with The Real Brokerage Inc. and affiliates to form Real REMAX Group as the new holding company, where Company shareholders can elect 5.150 shares of Real REMAX Group common stock or $13.80 cash per share (prorated to $60M-$80M total cash), and Parent shareholders will own ~59% of the combined entity versus ~41% for Company shareholders at midpoint. The board unanimously recommends approval, with closing subject to stockholder votes, regulatory approvals including HSR, Nasdaq listing, and court orders, targeting Nasdaq listing post-merger. Termination fees include $25M from Company or $31M from Parent under certain conditions, plus a $36M regulatory fee from Parent if applicable.
- ·Stock Election Exchange Ratio of 5.150 shares adjusted by 10-for-1 Parent share consolidation.
- ·End Date for closing: 9 months from agreement execution, with two 45-day extensions possible if non-regulatory conditions met.
- ·Mergers intended to qualify as tax-free reorganization under IRC Section 368(a) and Section 351.
- ·Real REMAX Group Common Stock to list on Nasdaq; Company and Parent shares to be delisted.
28-04-2026
For Q1 2026, Bread Financial Holdings, Inc. reported net income of $181 million, up 32% YoY from $138 million, with net interest income rising 6% to $1,067 million and non-interest expenses declining 1% to $472 million. Earnings per diluted common share surged 50% to $4.15, supported by credit sales growth of 7% to $6,510 million and improved credit metrics including a lower delinquency rate of 5.59%. However, non-interest income worsened to $(49) million from $(36) million due to higher interchange revenue losses, and provision for credit losses increased 2% to $303 million.
- ·Net interest margin improved to 19.25% from 18.06%.
- ·Return on average tangible common equity rose to 27.4% from 23.0%.
- ·End-of-period credit card and other loans increased 2% to $18,135M.
- ·Common equity tier 1 capital ratio strengthened to 13.3% from 12.0%.
- ·Net principal loss rate improved to 7.33% from 8.16%.
- ·Cash from operating activities increased to $487M from $393M.
28-04-2026
KB Financial Group Inc. filed its Form 20-F Annual Report on April 28, 2026, providing a table of contents covering financial information, market risks, controls, and additional disclosures. The report highlights restrictions on subsidiary dividends under the Korean Commercial Code and Bank Act, including a requirement to allocate at least 10% of net profit to a legal reserve until it equals paid-in capital, and potential Financial Services Commission restrictions if capital adequacy ratios are not met. Other disclosures include merchant fees charged to members ranging from 0.4% to 2.3% with discounts for small- and medium-sized enterprises, and exclusions of proceeds from non-performing loan sales.
- ·Dividends payable only from distributable income calculated as net assets minus paid-in capital, mandatory legal reserves, and certain unrealized profits as of prior fiscal period end.
- ·Financial Services Commission may restrict bank dividends if capital adequacy ratio not met or under management improvement measures.
- ·Merchant fees include maintenance, prepayment costs, processing, delinquency management, loan loss provisions, and fixed costs.
- ·Excludes proceeds from sales of non-performing loans that were written off.
28-04-2026
On April 22, 2026, Littelfuse, Inc. held its 2026 Annual Meeting of Stockholders, where all eight director nominees were elected with overwhelming support (For votes ranging from 21.3M to 23.0M shares). Stockholders also approved, on an advisory basis, the compensation of named executive officers (21.2M For vs. 1.8M Against) and ratified Deloitte & Touche LLP as independent auditors for fiscal year ending December 26, 2026 (23.8M For). Additionally, the Board approved updated forms of restricted stock unit and performance share award agreements under the company's long-term incentive plans, incorporating death or disability as qualifying for retirement vesting.
- ·All director elections had 785,230 broker non-votes.
- ·Annual Meeting held April 22, 2026; fiscal year ends December 26, 2026.
- ·New award agreements filed as Exhibits 10.1 (RSU under Littelfuse Plan), 10.2 (PSU under Littelfuse Plan), 10.3 (RSU under LF/IXYS Plan).
28-04-2026
Allegion plc reported Q1 2026 net revenues of $1,033.6 million, up 9.7% YoY on a reported basis and 2.6% organically, driven by Americas growth (up 6.9% reported, 4.5% organic) and acquisition impacts. However, diluted EPS declined 7.0% to $1.59, adjusted EPS fell 3.2% to $1.80, operating margin contracted to 18.9% from 20.9% (adjusted to 21.2% from 22.7%), with volume declines in residential and International segments (organic -5.3%). The company affirmed FY2026 organic revenue growth of 2-4%, raised reported revenue outlook to 6-8%, and maintained adjusted EPS guidance of $8.70-$8.90.
- ·Year-to-date available cash flow of $80.3 million, down from prior year.
- ·Net cash provided by operating activities $101.3 million vs $104.5 million prior year.
- ·Acquisition of businesses, net of cash acquired: $75.7 million.
- ·Q1 adjusted operating margin for Americas: 28.1% (down 110 bps YoY); International: 8.0% (down 220 bps YoY).
- ·FY2026 outlook assumes adjusted effective tax rate of 18-19% and diluted share count of 86.6 million.
- ·Total assets as of March 31, 2026: $5,312.1 million.
28-04-2026
Armstrong World Industries reported first-quarter 2026 net sales of $409.9 million, up 7.1% YoY from $382.7 million, with Mineral Fiber sales increasing 4.9% to $257.2 million and Architectural Specialties surging 11.0% to $152.7 million. However, operating income fell 4.4% to $94.2 million from $98.5 million, driven by non-recurring costs including tariff adjustments and acquisition expenses, while Architectural Specialties operating income declined sharply 37.2% to $9.3 million. Adjusted EBITDA rose slightly 0.8% to $130 million, and the company reaffirmed 2026 guidance for net sales (8-10% growth) and Adjusted EBITDA (8-12% growth) while raising Adjusted Diluted EPS guidance to 10-14% growth.
- ·Cash flows from operating activities decreased $9 million YoY in Q1 2026.
- ·Cash used for investing activities increased $57 million YoY, primarily due to Eventscape acquisition.
- ·Repurchased 0.3 million shares at average $176.00 per share; $473 million remaining under authorization.
- ·2026 Adjusted EBITDA guidance: $600M to $620M (8% to 12% growth vs. 2025 $555M).
- ·Total assets as of March 31, 2026: $1,985.9 million (up from $1,924.7 million at Dec 31, 2025).
28-04-2026
BeOne Medicines Ltd. achieved GAAP profitability for the first time in FY2025, generated meaningful cash flow through strong topline revenue growth, and reported BRUKINSA global revenues of $3.9B, up 49% YoY, while treating over 2 million patients with its medicines. The company employs nearly 12,000 colleagues and continues advancing its CLL pipeline with sonrotoclax (first approval in late 2025) and BGB-16673. This proxy statement for the June 11, 2026 Annual General Meeting seeks approval of FY2025 financial statements, appropriation of accumulated loss, discharge of liability, and re-election/election of board directors including John V. Oyler as Chairman.
- ·Annual General Meeting: June 11, 2026 at 3:30 p.m. local time, Prime Tower, Hardstrasse 201, CH-8005 Zürich, Switzerland.
- ·Record date: 12:00 p.m. CET on May 22, 2026.
- ·BRUKINSA approved in more than 75 markets; superior PFS vs. ibrutinib in Phase 3 ALPINE study.
- ·Sonrotoclax: U.S. FDA NDA action expected H1 2026 for relapsed/refractory mantle cell lymphoma.
- ·BGB-16673: Potential accelerated approval in 2027; three Phase 3 studies underway.
- ·Trading symbols: Nasdaq (ONC), HKEx (06160), SSE (688235).
28-04-2026
China Universal Asset Management Co., Ltd. filed its 13F-HR report as of March 31, 2026, disclosing 502 equity holdings with a total market value of $1,320,814,008, all held with sole voting authority. Top positions include NVIDIA Corp ($80,937,655, 464,069 shares), Apple Inc ($61,972,473, 244,188 shares), Microsoft Corp ($49,646,830, 134,119 shares), Alphabet Inc-CL A ($48,822,224, 169,781 shares), and Amazon.com Inc ($42,299,637, 203,100 shares). No period-over-period changes or performance metrics are provided in the filing.
- ·All 502 holdings reported as sole ownership with zero shared discretion or other voting authority.
- ·Filing covers period ended March 31, 2026, submitted April 28, 2026.
28-04-2026
Curbline Properties reported Q1 2026 net income of $3.6 million ($0.03 per diluted share), down from $10.6 million ($0.10 per diluted share) YoY due to higher interest expense and depreciation, but Operating FFO rose to $29.9 million ($0.28 per share) from $25.1 million ($0.24 per share) driven by acquisitions and SPNOI growth of 4.8% YoY. The company acquired $142.4 million in properties in Q1 and $93.8 million in Q2 to date, funded by $172.0 million in notes and over $295.6 million in forward equity sales, while leased rate slipped slightly to 96.3% from 96.7% at year-end. Guidance was raised for full-year net income to $0.29-$0.36 per share and OFFO to $1.20-$1.23 per share.
- ·Portfolio: 190 properties totaling 5.0M sq ft GLA across top MSAs (Atlanta 11%, Miami 11% of ABR); average household income $122K; 71% national retailers.
- ·Cash and capital commitments as of Mar 31, 2026: $305.8M cash + $371.1M unsettled forward equity gross proceeds.
28-04-2026
Kimberly-Clark reported first quarter 2026 net sales of $4.2 billion, up 2.7% from prior year with organic sales growth of 2.5% driven by 3.0% volume-plus-mix gains, though partially offset by 0.5% lower pricing and a 1.8% divestiture impact. Adjusted operating profit increased 3.7% to $732 million, supported by productivity savings and lower expenses, while adjusted EPS attributable to Kimberly-Clark rose 2.1% to $1.97; however, adjusted gross margin declined 60 basis points to 37.9%, adjusted EPS from continuing operations fell 1.2% to $1.60, and North America net sales decreased 0.6%. International Personal Care net sales grew strongly 9.1% to $1.5 billion with 4.0% organic growth.
- ·Cash provided by operations was $745 million, up from $327 million prior year.
- ·Total debt decreased to $7.1 billion from $7.2 billion at year-end 2025.
- ·Reaffirmed 2026 outlook includes mid-to-high single-digit adjusted operating profit growth and double-digit adjusted EPS from continuing operations growth on constant-currency basis.
- ·Effective tax rate 23.9% reported (26.2% adjusted) vs 23.5% (20.7% adjusted) prior year.
28-04-2026
Zimmer Biomet Holdings, Inc. (ZBH) announced that Suketu Upadhyay, Chief Financial Officer and Executive Vice President, Finance, Operations and Supply Chain, will depart effective April 28, 2026, for a new professional opportunity after seven years with the company. Paul Stellato, current Controller and Chief Accounting Officer, has been appointed as interim CFO while a search for a permanent successor is conducted. Chairman, President and CEO Ivan Tornos expressed gratitude for Upadhyay's contributions and confidence in Stellato's ability to ensure continuity.
- ·Paul Stellato joined Zimmer Biomet in May 2022 and previously held roles at Xylem Inc. and ITT Corporation.
- ·Stellato holds a BS in Accountancy from Villanova University, an MBA from NYU Stern, and is a CPA.
28-04-2026
Cementos Pacasmayo S.A.A.'s 20-F annual report discloses measured and indicated limestone resources of 174.3 million tonnes as of Dec. 31, 2025, up 2.3% YoY from 170.3 million tonnes, driven by a 3.1% increase in measured resources to 135.1 million tonnes, while indicated resources remained flat at 39.2 million tonnes. However, total proven and probable reserves declined 9.1% YoY to 72.9 million tonnes from 80.2 million tonnes, with proven reserves dropping 10.0% to 67.8 million tonnes despite a slight 4.1% rise in probable reserves to 5.1 million tonnes; changes are attributed to annual cement plant consumption and mining plan adjustments. Resource and reserve grades are stable around 50% CaO, 1.5% MgO, and 1.5% Al2O3, with a 48.5% CaO cut-off.
- ·Resource and reserve estimates reported at cement plant location.
- ·Economic model includes perpetuity at end of 30-year projection at nominal values.
- ·Measured resource increase and reserve decrease due to annual limestone consumption in cement plant.
- ·Inferred resource and probable reserve adjustments due to geological model, topography, and mining plan changes.
28-04-2026
Hycroft Mining Holding Corporation announced Q1 2026 results with a strong balance sheet showing US$189.0 million in cash and cash equivalents and no debt, alongside a 55% increase in measured and indicated gold and silver mineral resources to 16.4 million ounces of gold and 562.6 million ounces of silver. The company maintained an exemplary safety record with 0.00 TRIFR and over 1.4 million work hours without lost-time incidents, while advancing its 2025-2026 Exploration Drill Program with more than 9,000 meters drilled and exceptional results at Vortex and Brimstone. It was added to the VanEck Junior Gold Miners ETF on March 20, 2026, and promoted to the MSCI Small Cap Index effective February 27, 2026.
- ·Filed Form 10-Q for period ended March 31, 2026 on April 28, 2026.
- ·Plans for 2026 include adding two core drill rigs (total four), step-out drilling for new targets, completing PEA for milling sulfide ore via pressure oxidation, trade-off analysis for pressure oxidation vs roasting, in-fill RC drilling and metallurgical test work for heap leach restart, and advancing future development activities.
28-04-2026
Pentair plc reported strong Q1 2026 results with net sales of $1,037 million, up 3% YoY, GAAP EPS of $0.98 (up 5%), and adjusted EPS of $1.22 (up 10%), driven by operating income of $210 million (up 3%) and ROS expansion to 20.3%. While the Flow segment saw sales up 11% and reportable segment income up 22%, Water Solutions sales declined 1% and Pool sales grew only 1%, with core sales across segments up just 1-2%; net cash used for operating activities worsened to $67 million from $39 million YoY. The company repurchased $200 million in shares, raised FY2026 adjusted EPS guidance to $5.30-$5.40 (up 8-10% YoY), and introduced Q2 adjusted EPS guidance of $1.47-$1.50 (up 6-8%).
- ·50th consecutive year of dividend increases; Q1 dividend $0.27 per share (up from $0.25).
- ·Effective Jan 1, 2026, segment reorganization moved legacy residential and irrigation flow business from Flow to Water Solutions; prior periods reclassified.
- ·Q2 2026 sales guidance up ~1% YoY reported.
- ·Cash and equivalents $67.7M at Mar 31, 2026 (down from $101.6M at Dec 31, 2025); long-term debt $1,944.3M (up from $1,638.6M).
28-04-2026
PJT Partners Inc. reported record Q1 2026 revenues of $418.2 million, up 29% YoY from $324.5 million, driven by growth in strategic advisory, private capital solutions, and restructuring revenues. GAAP pretax income reached a record $80.4 million (+53% YoY), with adjusted pretax income at $83.9 million (+49% YoY), while compensation and benefits expenses rose 27% YoY to $280.3 million (67.0% of revenues, down from 68.1%) and non-compensation expenses increased 13% to $57.6 million (13.8% of revenues, down from 15.7%). The company deployed a record $244 million to repurchase 1.6 million shares/share equivalents, announced an $800 million Class A common stock repurchase authorization, held $388 million in cash/short-term investments with no funded debt, and declared a $0.25 per share quarterly dividend.
- ·Q1 2026 GAAP effective tax rate: -11.0% (vs -41.1% in Q1 2025); Adjusted If-Converted tax rate: 20.5%.
- ·Intends to exchange 149 thousand Partnership Units for cash on April 30, 2026.
- ·Quarterly dividend of $0.25 per share payable June 17, 2026 to shareholders of record June 3, 2026.
- ·Conference call scheduled for April 28, 2026 at 8:30 a.m. ET.
28-04-2026
Genprex, Inc. announced via press release that its research collaborators will present positive preclinical data on the Pdx1/MafA gene therapy (PM or GPX-002) at the 2026 ASGCT Annual Meeting (May 11-15, 2026, Boston), demonstrating reversal of hyperglycemia in Type 2 diabetic mouse models via intrapancreatic AAV delivery. Key results at four weeks post-treatment include improved ex-vivo glucose-stimulated insulin secretion (GSIS) comparable to healthy controls, enhanced β-cell function and maturation, increased mature insulin granules, and a transcriptomic shift toward β-cell maturity. The data supports technical translatability to humans using endoscopic retrograde cholangiopancreatography for potential long-term T2D glycemic control.
- ·Study used eight-week-old male C57BL/6 mice on high fat diet (HFD) for 24 weeks or regular diet (RD).
- ·Treatments: intrapancreatic infusion of AAV-8 PM (global-islet or β-cell specific) vs. control virus.
- ·Assessments: intraperitoneal glucose/insulin tolerance testing, HOMA-IR, glucagon secretion, pancreatic histology, β-/α-cell mass, electron microscopy, ex-vivo GSIS, single-cell RNA sequencing.
- ·Electron microscopy: PM treatment increased total/mature insulin granules, decreased immature granules in HFD mice.
- ·Abstract title: 'Pancreatic Delivery of AAV-Pdx1/MafA Reverses Hyperglycemia in a Preclinical Model of Type 2 Diabetes.'
28-04-2026
American Tower reported strong Q1 2026 results with total revenue up 6.8% YoY to $2,738 million and total property revenue up 7.3% to $2,670 million, while Adjusted EBITDA rose 5.2% to $1,835 million. However, AFFO attributable to common stockholders grew modestly 2.6% to $1,324 million and Free Cash Flow declined 1.5% to $941 million amid higher capital expenditures up 35.3% to $460 million. The company raised its full-year 2026 outlook midpoints, though U.S. & Canada property revenue is projected to decline 3.0% while international segments show growth.
- ·Repurchased 1.1 million shares for $184 million in Q1 2026, plus 0.1 million shares for $19 million through April 21, 2026.
- ·Declared Q1 2026 common stock distributions of $1.79 per share.
- ·Repaid $500 million 4.400% senior notes on Feb 13, 2026 and $700 million 1.600% senior notes on April 14, 2026.
- ·Full year 2026 capex outlook $1,800M to $1,910M, including $1,050M-$1,080M discretionary projects.
- ·Portfolio includes nearly 150,000 communications sites and U.S. data center facilities.
28-04-2026
Shutterstock reported Q1 2026 revenue of $199.2 million, down 18% YoY from $242.6 million, driven by a 12% decline in Content revenue to $178.1 million and a 47% drop in Data, Distribution, and Services to $21.0 million, resulting in a net loss of $47.6 million versus prior year income of $18.7 million. Adjusted EBITDA fell 33% to $42.7 million amid operational discipline and investments in AI services, while subscribers decreased to 993,000 from 1,079,000 and paid downloads dropped to 104.1 million from 120.9 million. The company provided an update on its pending merger with Getty Images, noting DOJ clearance but ongoing CMA concerns over UK editorial content, potentially requiring divestiture of Rex Features, Backgrid, and Splash News businesses that generated $32.7 million in 2025 revenue.
- ·DOJ HSR waiting period expired February 23, 2026 without conditions.
- ·CMA statutory deadline for final merger report: June 14, 2026.
- ·2025 UK Editorial revenue: $10.6 million.
- ·Q1 2026 dividend: $0.36 per share, next payable June 18, 2026 to record June 4, 2026.
- ·Adjusted free cash flow Q1 2026: $13.1 million, down from prior year.
28-04-2026
Asbury Automotive Group reported Q1 2026 revenue of $4.1 billion and gross profit of $727 million (17.7% margin), with GAAP net income rising 42% YoY to $188 million ($9.87 EPS) driven by a $94 million gain on divestitures of 10 dealerships (annualized revenue $625 million). However, adjusted net income fell 24% YoY to $102 million ($5.37 EPS) after excluding divestiture gains, Tekion implementation costs, weather losses, and other items, while used retail gross profit per unit grew 16% to $1,847. The company repurchased 678,000 shares for $147 million and converted over 50% of stores to Tekion amid ongoing portfolio optimization.
- ·Same store revenue of $3.5 billion and gross profit of $616 million (17.7% margin) in Q1 2026.
- ·Parts and service revenue $627 million with gross profit $365 million; F&I PVR $2,302 total / $2,307 same store.
- ·Adjusted operating margin 5.0% total / 5.3% same store Q1 2026.
- ·Transaction adjusted net leverage ratio 3.2x as of March 31, 2026.
- ·$453 million remaining on share repurchase authorization as of March 31, 2026.
28-04-2026
Axogen reported first quarter 2026 revenue of $61.5 million, up 26.6% YoY from $48.6 million, driven by double-digit growth across all target markets including Extremities, Oral Maxillofacial & Head and Neck, and Breast, with gross margin expanding to 75.2% from 71.9%. However, net loss widened significantly to $19.6 million ($0.38 per share) from $3.8 million ($0.08 per share), primarily due to a $16.8 million loss on debt extinguishment following repayment using proceeds from a January public offering. The company raised full-year 2026 revenue guidance to at least 20% growth or $270 million, with gross margin of 74-76% and free cash flow positivity expected.
- ·Received positive coverage decisions from Cigna and Elevance Health.
- ·Effective January 1, 2026, CMS created new Level 3 Nerve Procedure Code, increasing Avance facility reimbursement 40% YoY to $8,965 (hospital outpatient) and 35% to $6,157 (ASC-based).
- ·Closed upsized public offering on January 23, 2026, with sale of 4.6 million shares yielding $133.3 million net proceeds; $69.7 million used to fully repay and terminate Oberland loan facility.
- ·Double-digit revenue growth in all markets: Extremities, Oral Maxillofacial & Head and Neck, Breast.
28-04-2026
JetBlue reported first quarter 2026 operating revenue of $2,240 million, up 4.7% year-over-year, with RASM increasing 6.5% driven by resilient demand and strong Fort Lauderdale performance including 5% RASM growth on 23% capacity increase. However, system capacity decreased 1.7% YoY, CASM rose 8.3%, CASM ex-Fuel increased 6.6%, and average fuel price rose 15.2% to $2.96 per gallon, resulting in an operating loss of $224 million (worsened 28.5% YoY) and operating margin of -10.0%. The company bolstered liquidity to $2.4 billion, executed $500 million in aircraft-backed financing, and announced capacity reductions and cost controls to address elevated fuel costs.
- ·Fort Lauderdale capacity growth of 23% YoY in Q1 2026.
- ·Loyalty cash remuneration grew 19% YoY, with 45% increase in card acquisitions.
- ·Q2 2026 capacity guidance: +1.5% to +4.5% YoY ASMs; RASM +7.0% to +11.0%; CASM ex-Fuel +3.0% to +5.0%; fuel $4.13-$4.28/gallon.
- ·Full year 2026 capex guidance ~$800 million.
- ·On track for $310 million incremental EBIT from JetForward in 2026.
28-04-2026
Jinxin Technology Holding Co (NAMI) reported consolidated revenues of RMB 413,024 thousand for the year ended December 31, 2025, up 1.6% YoY from RMB 406,399 thousand in 2024, showing modest growth primarily from VIE subsidiaries. However, gross profit declined sharply 61.0% to RMB 45,558 thousand due to higher cost of revenues, resulting in an operating loss of RMB 104,253 thousand versus operating income of RMB 27,113 thousand prior year, and a net loss of RMB 100,779 thousand compared to net income of RMB 30,559 thousand. Total assets decreased 21.0% to RMB 192,261 thousand, with cash and equivalents down 30.6% to RMB 64,269 thousand.
- ·Revenues from VIE and subsidiaries: RMB 409,378 thousand in FY2025 (99% of total), up slightly from RMB 405,647 thousand.
- ·Total operating expenses increased to RMB 149,811 thousand in FY2025 from RMB 89,831 thousand.
- ·Risk of inability to attract/retain users or maintain telecom partnerships could impact revenue growth.
- ·Reliance on dividends from Shanghai Mihe (VIE entity) for funding, with potential limitations.
- ·VIE structure with intercompany eliminations of RMB 422,465 thousand in total assets as of Dec 31, 2025.
28-04-2026
CECO Environmental reported Q1 2026 results showing robust top-line growth with orders up 97% YoY to $449.5 million and backlog hitting a record $1,035.1 million (up 72%), alongside revenue growth of 17% to $205.9 million and adjusted EBITDA up 46% to $20.4 million. However, the company recorded a net loss of $(0.4) million (down 101% from prior profit), operating income down 97% to $1.9 million, and free cash flow of $(15.7) million (down 4%). CECO raised FY2026 guidance to revenue of $940-$1,000 million (up ~25% at midpoint) and adjusted EBITDA of $120-$140 million (up ~45%), while providing an update on its pending merger with Thermon expected to close in June 2026.
- ·Book-to-bill ratio of 2.2 in Q1 2026.
- ·Largest ever Natural Gas Power order booked in April 2026.
- ·Thermon stockholder vote expected May 27, 2026; merger close expected June 2026.
- ·Expected $40 million in cost synergies from Thermon merger.
- ·Gross margin of 31.0% in Q1 2026; expected to improve in H2 2026 due to higher margin backlog.
- ·Conference call scheduled for April 28, 2026 at 8:30 a.m. ET.
28-04-2026
Corning reported strong Q1 2026 core sales of $4.35 billion, up 18% YoY, and core EPS of $0.70, up 30% YoY, driven by robust demand for Gen AI products with Optical Communications sales up 36% YoY and Solar sales up 80% YoY. However, Solar net income declined 74% YoY to $7 million, Glass Innovations sales grew only 1% YoY, Automotive sales were down 1% YoY and flat QoQ, and overall sales declined 2% QoQ from Q4 2025. Q2 guidance projects core sales growth of about 14% YoY to approximately $4.6 billion and core EPS growth of about 25% YoY to $0.73-$0.77, incorporating a $30 million additional expense from an extended solar wafer facility maintenance shutdown.
- ·Two additional hyperscale customers entered large, long-term agreements similar in size and duration to the up-to-$6 billion Meta deal.
- ·Springboard plan to be upgraded and extended through 2030, announced at May 6 NYC investor event.
- ·GAAP gross margin 36.9%; core gross margin 39.1% (expanded 120 basis points YoY).
- ·Core operating margin 20.2% (expanded 220 basis points YoY); GAAP operating margin 15.4%.
- ·Investor event at NYSE on May 6, 2026, starting 9 a.m. ET.
28-04-2026
Cabaletta Bio, Inc.'s DEF 14A proxy statement outlines six proposals for the annual meeting: election of Class I directors Scott Brun, M.D. and Shawn Tomasello, MBA; ratification of Ernst & Young LLP as independent auditors for fiscal year ending December 31, 2026; approval of Amendment No. 2 to the 2019 Stock Option and Incentive Plan; amendment to certificate of incorporation to increase authorized common stock from 300,000,000 to 600,000,000 shares; non-binding advisory approval of named executive officer compensation; and approval to adjourn the meeting if needed for additional solicitation. The board has six members serving staggered three-year terms, with no financial performance data or period comparisons provided. Director bios highlight extensive biopharma experience, including past roles in major acquisitions like Kite Pharma ($11.9B) and Pharmacyclics ($21.0B).
- ·Board removal requires affirmative vote of at least 75% of outstanding shares entitled to vote.
- ·Vacancies on board filled by majority vote of directors then in office.
- ·Annual meeting voting results to be filed via Form 8-K within four business days, with preliminary if needed.
- ·Nominating committee emphasizes diversity in expertise, experience, background, and gender for director candidates.
28-04-2026
Sensei Biotherapeutics, Inc. (SNSE) filed an S-3 shelf registration statement on April 28, 2026, following its completion of the acquisition of Faeth Therapeutics on February 17, 2026, which added the lead asset PIKTOR (serabelisib + sapanisertib) targeting the PI3K/AKT/mTOR pathway for endometrial and breast cancers to its pipeline. Concurrently, the company raised approximately $200 million in gross proceeds through a PIPE financing on February 20, 2026, issuing 14,440.395 shares of Series B Preferred Stock convertible to 14,440,395 common shares. PIKTOR's Phase 2 trial in endometrial cancer anticipates topline data by year-end 2026, with a Phase 1b breast cancer trial planned for H1 2026; legacy programs like solnerstotug have only 7 patients remaining as of March 23, 2026.
- ·Acquisition treated as asset acquisition under ASC 805 due to >90% fair value in PIKTOR.
- ·Series B Preferred Stock: non-voting, convertible 1:1000 to common, issued 10,497.098 shares for acquisition and 14,440.395 for PIPE.
- ·Nasdaq listing application filed; potential name change to Faeth Therapeutics, Inc. (FTH).
- ·180-day lock-up agreements for certain officers, directors, and stockholders.
- ·Resale registration statement obligated within 75 days of PIPE closing.
- ·Emerging growth company status until annual revenues exceed $1.235 billion.
28-04-2026
Franklin Resources, Inc. reported robust YoY growth in Q1 FY2026 operating revenues, rising 8.7% to $2,294.9 million, driven by higher investment management fees (+8.7%), sales and distribution fees (+8.7%), and shareholder servicing fees (+11.5%), leading to operating income surging 122% to $323.3 million and net income attributable to the company jumping 77% to $268.2 million (EPS $0.49). For H1 FY2026, revenues grew 5.9% to $4,622.0 million while operating income increased 66% to $604.3 million and net income attributable rose 66% to $523.7 million (EPS $0.95). However, cash and cash equivalents declined 17% to $2,571.5 million from September 30, 2025, net cash used in operating activities worsened to $282.7 million from $195.3 million, and currency translation adjustments contributed to a $40.8 million comprehensive loss in Q1.
- ·Information systems and technology expenses remained flat YoY at $157.6M for Q1 and $314.6M for H1.
- ·Amortization of intangible assets declined sharply to $50.6M in Q1 from $112.5M (no impairment vs $24.4M prior).
- ·Dividends declared on common stock totaled $177.6M in Q4 FY2026 and $177.5M in Q1 FY2026 ($0.33 per share).
- ·Net cash provided by financing activities was $1,978.5M for H1 FY2026, driven by noncontrolling interests contributions of $606.3M.
28-04-2026
HUHUTECH International Group Inc.'s 20-F annual report discloses key risks including PRC regulatory restrictions on dividend payments from subsidiaries, requiring a minimum 10% of net income to be set aside as statutory surplus reserves until reaching 50% of registered capital, and a potential 10% withholding tax on dividends to non-PRC entities. Additional risks encompass reliance on subsidiary dividends for cash needs, unfavorable tax consequences if classified as a PRC resident enterprise, currency fluctuations in RMB and JPY impacting USD-quoted shares, challenges in maintaining Nasdaq Capital Market listing, extreme stock price volatility, no expectation of paying dividends, and limitations as a Cayman Islands-incorporated foreign private issuer and emerging growth company.
- ·PRC subsidiaries must reserve at least 10% of after-tax net income annually until reserves equal 50% of registered capital.
- ·Business primarily conducted in RMB and JPY, with Ordinary Shares quoted in USD.
- ·Company is a Cayman Islands-incorporated foreign private issuer and emerging growth company, exempt from certain U.S. domestic company rules.
- ·Potential classification as PRC resident enterprise for tax purposes.
- ·No expectation to pay dividends in the foreseeable future.
28-04-2026
Coronado Global Resources Inc. reported Q1 March 2026 results with ROM production declining 21.7% QoQ to 5.4 Mt from 6.9 Mt and saleable production down 30.7% QoQ to 3.0 Mt, reflecting planned maintenance, CHPP shutdown at Curragh, longwall moves at Buchanan, weather delays, and Logan idling due to weak High-Vol market. Sales volumes fell 23.2% QoQ to 3.5 Mt, but realised met coal pricing rose 11.2% QoQ to US$165.4/t and overall group pricing increased 9.1% to US$133.2/t; Buchanan doubled EBITDA to US$30M despite challenges, and US$26M was received under revised Stanwell arrangements. Average mining cash costs surged 40.6% QoQ to US$135.3/t due to lower volumes, though expected to improve with higher run-rates.
- ·Logan Complex idled following WARN Act notice due to constrained High-Vol market demand.
- ·Curragh Complex experienced temporary coal recovery constraints from rain after strong overburden removal.
- ·Export sales increased to 74.4% of total group volumes QoQ (+1.2%).
- ·PLV HCC FOB AUS Index averaged US$234.7/t in Mar Q26 (+17.3% QoQ).
28-04-2026
Ligand Pharmaceuticals announced a definitive agreement dated April 27, 2026, to acquire XOMA Royalty Corporation for $39 per share in cash plus a CVR tied to Janssen Biotech Tremfya litigation proceeds, expected to close in Q3 2026 and immediately accretive by $0.50 to adjusted core EPS in 2026 and $1.50 in 2027. The deal adds seven commercial royalties (Vabysmo, Ojemda, Miplyffa as key drivers) and over 100 development-stage programs, more than doubling Ligand's portfolio, prompting raised 2026 guidance to royalty revenue of $225-250 million (from $200-225 million), total revenue $270-310 million (from $245-285 million), and adjusted core EPS $8.50-9.50 (from $8-9). No declines or flat metrics were reported, positioning Ligand for compounded growth.
- ·XOMA portfolio includes royalties, tax, and IP assets built since 2017 pivot, with nine acquisitions in last two years.
- ·Funding via cash on hand and credit facility, retaining capacity for $150-250M annual royalty asset investments.
- ·Additional catalysts: Ojemda Japan marketing decision, Miplyffa Europe marketing decision in 2026.
- ·Filspari FDA approval for FSGS (rare kidney disease) expands beyond IgAN; Ligand 9% royalty.
28-04-2026
Polaris Inc. reported Q1 2026 sales of $1,659 million, up 8% YoY from $1,536 million, with North America sales up 10% to $1,426 million while international sales declined 5% to $233 million; gross profit margin expanded 423 bps to 20.2%. Operating expenses rose 29% to $390 million, leading to a reported net loss of $47.4 million (improved from $66.8 million YoY) and adjusted EPS of $0.13; segment sales grew in Powersports (+14%), Marine (+9%), and Aixam & Goupil (+9%), but Corporate sales fell sharply due to the Indian Motorcycle divestiture. Total retail sales rose 1% YoY (ORV +3%), and full-year 2026 adjusted sales guidance of $7.15-7.30 billion and EPS of $1.60-1.70 was reaffirmed.
- ·Adjusted gross profit margin increased 389 bps to 20.5%.
- ·Q1 2026 diluted EPS reported $(0.83) vs $(1.17) prior year; adjusted $0.13.
- ·Adjusted EBITDA margin 6.2% (+277 bps YoY).
- ·PG&A sales in Powersports up 14%; in Aixam & Goupil up 18%.
- ·Cash and cash equivalents $282.0 million at March 31, 2026 (down from $291.7 million prior year).
- ·Total assets $5,241.5 million at March 31, 2026 (down from $5,450.4 million).
28-04-2026
This DEF 14A proxy statement discloses beneficial ownership of Lindblad Expeditions Holdings, Inc. common stock as of April 14, 2026, with 65,499,714 shares outstanding; insiders (16 directors and executives) collectively own 17,079,026 shares (26.1%), led by Sven-Olof Lindblad at 10,675,063 shares (16.3%), while 5% owners include Ariel Investments, LLC (5,524,660 shares, 8.4%) and Capitol Acquisition Management 2 LLC (3,324,820 shares, 5.1%). Stockholders are voting to elect four Class B directors (L. Dyson Dryden, John M. Fahey, Catherine B. Reynolds, Andy Stuart) for terms until the 2029 annual meeting. Two late Section 16(a) filings were noted: one by Sven Lindblad and one by Benjamin Bressler.
- ·Board is staggered into three classes with 11 directors: Class A (4), Class B (4, up for election), Class C (3).
- ·Two delinquent Section 16(a) reports in 2025: Sven Lindblad (April 2, forfeiture of unearned RSUs), Benjamin Bressler (April 15, withholding for taxes on vesting).
- ·Annual meeting voting results to be announced preliminarily at meeting and finalized in Form 8-K within four business days.
28-04-2026
Insight Inv LLC filed its 13F-HR on April 28, 2026, reporting total equity holdings valued at 182747722 USD as of March 31, 2026, across 104 positions all held with sole voting power. Top holdings include Apple Inc (8113666 USD, 31970 shares), First Trust Exchange Traded Fund Rising Dividend Achievers (5863818 USD, 85879 shares), and Corning Inc (5456748 USD, 40132 shares). No prior period comparisons or changes are provided in the filing.
- ·Filing CIK: 0001909322
- ·Business address: 330 Illinois Street, El Segundo, CA 90245
- ·Phone: 310-426-6322
28-04-2026
Corvex, Inc. (formerly associated with Movano Inc., ticker MOVE) filed Amendment No. 1 to its 10-K for the fiscal year ended December 31, 2025, on April 28, 2026, pursuant to General Instruction G(3) as it will not file a definitive proxy statement within 120 days of fiscal year-end. The amendment restates Part III items (Directors, Executive Compensation, Security Ownership, Related Transactions, and Accountant Fees), updates the cover page to note no incorporated documents, and adds new certifications, the 2024 Equity Incentive Plan, and a common stock description as exhibits. No financial statements or related disclosures were amended or included.
- ·Entity is a Non-accelerated Filer, Small Business, and Emerging Growth Company.
- ·Entity File Number: 001-40254; CIK: 0001734750; EIN: 82-4233771.
- ·Trading on NASDAQ under symbol MOVE.
- ·Address: 3401 North Fairfax Drive, Suite 3230, Arlington, VA 22226.
- ·Original 10-K filed March 31, 2026.
28-04-2026
Stewards, Inc. disclosed executive compensation for 2025 showing significant increases in total pay primarily due to $1,000,000 RSU grants to each named executive officer, with Vincent Napolitano's total rising 103% YoY to $1,913,432 and Shaun Quin's up 192% to $1,562,430; however, base salaries declined for some like Napolitano (from $233,610 to $205,432). The company approved a new executive compensation program with STI/LTI elements, stock ownership guidelines, and clawbacks, alongside a leadership transition where Vincent Napolitano steps to Chairman Emeritus, Glen Steward to Chairman, and Shaun Quin to CEO. Directors will receive $30,000 annual cash retainers plus $135,000 in RSUs under a new policy effective Q4 2025.
- ·Glen Steward resigned as Chief Strategy Officer effective Dec 1, 2025, but remains on Board.
- ·No compensation expense recognized for 2025 RSUs as vesting not probable at Dec 31, 2025.
- ·RSU vesting requires uplisting to Nasdaq, S-8 effectiveness, and service period.
- ·Incentive Plan effective Aug 21, 2024, terminates Aug 21, 2034 unless earlier.
- ·New comp program phased 2025-2028; ownership guidelines 6x salary for CEO, etc.
- ·Board majority-independent post-Napolitano transition per Nasdaq Rule 5605.
28-04-2026
Enterprise Products Partners L.P. reported robust Q1 2026 earnings with operating income of $1.9 billion (up 8% YoY), net income attributable to common unitholders of $1.5 billion (up 6%), Adjusted EBITDA of $2.7 billion (up 10%), and record volumes including natural gas processing inlet at 8.3 Bcf/d (up 7%), equivalent pipeline transportation at 14.2 MMBPD (up 7%), and NGL fractionation at 1.9 MMBPD (up 16%). However, Crude Oil Pipelines & Services gross operating margin declined to $329 million from $374 million YoY, Petrochemical & Refined Products Services remained flat at $314 million versus $315 million, and certain sub-segments like LPG-related activities at EHT dropped $42 million. Distributions rose 2.8% to $0.55 per common unit, backed by Operational DCF of $2.1 billion (up 5%) providing 1.8x coverage.
- ·Growth capital spending for 2026 expected $2.3 to $2.6 billion net of $596 million asset sale proceeds; sustaining capex $580 million.
- ·12 new operational records set in Q1 2026.
- ·Approximately $5.3 billion of major growth capital projects under construction.
- ·Permian natural gas processing capacity growing at 17% CAGR since Navitas Midstream acquisition in 2022.
28-04-2026
RE/MAX Holdings, Inc. entered into an Arrangement Agreement and Plan of Merger dated April 26, 2026, with The Real Brokerage Inc. (Parent), Rome Wildlife, Inc. (New Wildlife), and affiliates, outlining a strategic combination involving the prior Rhino Merger, a 10-for-1 share consolidation of Parent Common Shares, an Exchange under the Plan of Arrangement, and two-step mergers resulting in RE/MAX becoming a wholly-owned subsidiary of New Wildlife. The respective boards have unanimously approved the transaction (subject to certain conditions), obtained fairness opinions, and secured voting and support agreements from key stockholders and shareholders. The structure is intended to qualify as a tax-free reorganization under Sections 368(a) and 351 of the Code.
- ·Voting and Support Agreements executed concurrently by certain Company stockholders (Exhibit C) and Parent shareholders (Exhibit D).
- ·TRA Termination Agreement with Rhino (Exhibit H) to terminate the Tax Receivable Agreement dated October 7, 2013, conditioned on Closing.
- ·Transactions interdependent: Rhino Merger immediately prior to Arrangement Effective Time; Mergers following on same Closing Date.
28-04-2026
The SPAC Board unanimously approved the Business Combination Agreement to merge with a target company forming Pubco, a publicly traded XRP treasury vehicle, citing attractive market opportunity, over $1 billion in equity commitments at $10.00 per share, initial XRP holdings of at least 473,276,430 XRP, and a fairness opinion from CCM. Pubco aims to grow via ecosystem participation, yield generation, and NAV-accretive structure, led by experienced executives like Asheesh Birla (CEO). However, risks include SPAC shareholders holding a minority position post-merger, potential high redemptions reducing trust cash below $5,000,001, and uncertainty that projected benefits will be achieved.
- ·Transactions structured as 'Up-C' with Pubco as public corporation and operating company as partnership for tax purposes, allowing in-kind XRP contributions.
- ·Six-month lockup on Pubco Class A and Class C Common Stock for certain Ripple affiliates, Sponsor, and SPAC Insiders.
- ·SPAC financial advisor CCM provided fairness opinion on the Exchange Ratio.
28-04-2026
Ares Capital Corp's total investment income rose 4% YoY to $763M for the three months ended March 31, 2026, driven by increases across non-controlled/non-affiliate ($614M, +3% YoY) and controlled affiliate investments ($142M, +15% YoY), with net investment income up 9% YoY to $398M. However, net unrealized losses widened significantly to $412M from $63M YoY, leading to a net increase in stockholders' equity from operations of $92M (down 62% YoY from $241M) and QoQ declines in total assets to $30,679M (-2% from $31,235M), stockholders' equity to $14,065M (-2% from $14,318M), and NAV per share to $19.59 (-2% from $19.94). Debt decreased slightly QoQ to $15,848M from $15,991M.
- ·Net realized gains of $106M for Q1 2026, improved from net realized losses of $61M YoY.
- ·Foreign currency forward contracts show total unrealized appreciation of $11M as of March 31, 2026.
- ·Interest rate swaps have total fair value of $36M as of March 31, 2026.
- ·Portfolio includes first lien senior secured loans to software and SaaS providers like Auctane ($143.4M principal) and Banyan Software ($260.0M total fair value).
28-04-2026
Topor & Co. Korea filed its quarterly 13F-HR report disclosing $118,249,710 in total holdings across 18 positions as of March 31, 2026. The portfolio is diversified across equity and fixed income ETFs, with top holdings including Vanguard Intl Equity Index F TT WRLD ST ETF ($31,251,053), Vanguard Index Fds S&P 500 ETF ($24,986,553), and iShares TR MSCI ACWI ETF ($18,256,123). No prior period comparisons are available in this filing.
- ·Filing covers period ending March 31, 2026, filed on April 28, 2026
- ·All holdings reported as sole discretionary with zero shared or other voting authority
28-04-2026
Rising Stella Capital Pte. Ltd, a Singapore-based investment manager, filed its Form 13F-HR on April 28, 2026, disclosing equity holdings as of March 31, 2026, with a total market value of $213601262. The portfolio is concentrated in three ETFs: SPDR S&P 500 ETF Trust valued at $92658492 (142477 shares), Invesco QQQ Trust Series 1 at $91139031 (157904 shares), and iShares Bitcoin Trust ETF at $29803739 (775735 shares), all held with sole voting authority.
- ·All positions held with sole voting and disposition authority (SH SOLE).
- ·Filer's address: 9 Raffles Place #59-01 Republic Plaza, Singapore 048619.
- ·SEC file number: 028-26717.
28-04-2026
Innovative Digital Investors Acquisition Corp., a blank check company focused on financial services targets in North America, has filed Amendment No. 5 to its S-1 registration statement for an IPO of 20,000,000 units priced at $10.00 each, consisting of one share of common stock and one-half of one redeemable warrant exercisable at $11.50. The sponsor commits to purchasing 275,000 private units at $10.00 and 1,000,000 Sponsor OTM warrants at $0.10 each (exercisable at $15.00), for total consideration of $2,850,000, while initial stockholders hold 7,475,000 founder shares purchased for approximately $43,333. The company has 24 months to complete an initial business combination, with standard SPAC risks including potential high redemptions leading to significant dilution (e.g., NTBV as low as $0.15 at maximum redemption).
- ·Underwriters have a 45-day option to purchase up to 3,000,000 additional units for over-allotments.
- ·Warrants become exercisable on the later of 30 days after initial business combination or 12 months from IPO closing, expiring 5 years post-combination (10 years for Sponsor OTM Warrants).
- ·Pro forma NTBV per share ranges from $7.48 (no redemption) to $0.15 (maximum redemption assuming full over-allotment).
- ·Public stockholders can redeem up to 15% of shares upon business combination at trust account value per share.
- ·Company is an emerging growth company under federal securities laws.
- ·Nasdaq listing applied for: units IDIAU, common stock IDIA, warrants IDIAW.
- ·Sponsor reimbursed $15,000 per month for office space and services.
28-04-2026
Novus Advisors, LLC filed a 13F-HR report disclosing 47 equity holdings totaling $44,702,426 as of March 31, 2026, with 0 changes reported since the prior filing. The portfolio is dominated by ETFs from iShares and SPDR series, including top positions in State Street SPDR S&P 500 ETF Trust ($4,670,748), SPDR S&P 500 ETF ($3,953,275), and SSGA Active Trust State Street US ($3,343,126). Individual stocks such as Exxon Mobil Corp ($709,857), Union Pacific Corp ($597,816), and Amazon.com Inc ($281,164) represent smaller allocations.
28-04-2026
Farnam Financial LLC, an Arizona-based investment manager, filed its 13F-HR on April 28, 2026, disclosing $121,517,718 in total holdings across 49 positions as of March 31, 2026. The portfolio is dominated by ETFs, with top holdings including Vanguard Total Stock Market ETF ($11,626,314, 36,240 shares), iShares 0-3 Month Treasury ($10,631,707, 105,620 shares), and Schwab U.S. Large-Cap ETF ($9,355,838, 364,892 shares). Individual stocks such as Apple ($4,848,165, 19,103 shares), Intel ($2,887,291, 65,427 shares), and Berkshire Hathaway ($2,846,927, 5,941 shares) represent smaller allocations.
- ·All positions reported with sole discretionary voting power (OTR 0 0).
- ·Business address: 4539 N 22nd St Ste N, Phoenix, AZ 85016.
- ·SEC file number: 028-25707.
28-04-2026
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (Volaris) discloses 100% equity ownership in five Mexican trusts (Banco Multiva Fidecomisos CIB/3853, 3855, 3866, 3867, 3921) for financing pre-delivery payments under its Airbus aircraft purchase agreement, with Banco Multiva assuming rights from CIBanco effective September 2, 2025. The company also reports 100% ownership in Fidecomiso CIB/3249, through which subsidiary Volaris Opco issued three series of asset-backed securities notes (15 million units each): VOLARCB 19 (Ps.1.5B or $78.5M, fully amortized June 20, 2024), VOLARCB 21L (Ps.1.5B or $72.1M), and VOLARCB 23 (Ps.1.5B or $85.8M), under CNBV-approved programs up to Ps.3.0B ($157.1M/$144.2M) and Ps.5.0B ($286.2M). Two additional 100%-owned administrative trusts (F/745291 and CIB/3081) manage shares.
- ·VOLARCB 19 notes fully amortized on June 20, 2024.
- ·Banco Multiva assumed all rights and obligations of CIBanco effective September 2, 2025.
28-04-2026
Nautilus Biotechnology reported Q1 2026 operating expenses of $16.1 million, down 14% YoY from $18.8 million, driven by lower R&D and SG&A costs, narrowing net loss to $14.7 million from $16.6 million. Business highlights include launching the Iterative Mapping Early Access Program with Baylor College of Medicine as the first customer and appointing Amber Faust as VP Global Sales. However, the company remains pre-revenue with ongoing cash burn of $13.1 million in operating activities, and total cash, equivalents, and investments declined to $143.4 million as of March 31, 2026.
- ·Total assets decreased to $177.8 million as of March 31, 2026 from $191.1 million as of December 31, 2025.
- ·Net cash provided by investing activities was $14.2 million in Q1 2026.
- ·Conference call scheduled for April 28, 2026 at 5:30 AM PT / 8:30 AM ET.
28-04-2026
Ares Capital Corporation reported Q1 2026 financial results with Core EPS of $0.47, down 6% YoY from $0.50, but Net Investment Income increased 9% to $398 million from $365 million. GAAP net income declined sharply to $92 million ($0.13 per share) from $241 million ($0.36 per share) due to net unrealized losses of $412 million versus $63 million prior year, while NAV per share fell to $19.59 from $19.94 QoQ. The Board declared a stable Q2 2026 dividend of $0.48 per share, matching prior periods, amid a stable $29,499 million portfolio and $3.246 billion in new commitments.
- ·Debt/equity ratio stable at 1.13x as of March 31, 2026 vs 1.12x December 31, 2025.
- ·Non-accrual loans increased slightly to 2.1% of total investments at amortized cost (1.2% at fair value) from 1.8% (1.2%) QoQ.
- ·Weighted average yield on debt and other income producing securities at fair value stable at 10.4%.
- ·Approximately $5.5 billion available for additional borrowings under credit facilities as of March 31, 2026.
28-04-2026
Centene Corporation reported strong Q1 2026 financial results with premium and service revenues up 5% YoY to $44,655 million, adjusted diluted EPS of $3.37 exceeding expectations by $0.50, HBR improving to 87.3% from 87.5%, and SG&A ratio declining to 7.6% from 7.9%, alongside $1.0 billion debt reduction and $4,366 million operating cash flow. However, total at-risk membership fell 6% YoY to 26,272,900, driven by sharp Commercial declines (Marketplace down 36% to 3,582,200) and Medicaid reductions to 12,426,900. The company raised FY2026 adjusted diluted EPS guidance to greater than $3.40 and premium revenues to $171.0-$175.0 billion.
- ·Centene named one of the World's Most Admired Companies by Fortune for eighth consecutive year.
- ·FY2026 guidance: Total revenues $187.5-$191.5 billion; HBR 90.9%-91.7%; Adjusted SG&A 7.0%-7.6%.
- ·Conference call scheduled for April 28, 2026 at 8:30 a.m. ET.
- ·Days in claims payable (DCP) at 48 days, up 2 days from Q4 2025.
28-04-2026
For the three months ended March 31, 2026, Centene Corporation reported total revenues of $49,944 up 7.1% YoY from $46,620, with premium revenues increasing 5.2% to $43,887; net earnings attributable to Centene rose 17.6% YoY to $1,541, and adjusted diluted EPS grew 16.2% to $3.37. Cash and cash equivalents increased 18.9% QoQ to $21,264 as of March 31, 2026, with net cash from operations surging to $4,366 from $1,510 YoY. However, service revenues declined 1.2% YoY to $768, comprehensive earnings attributable to Centene fell 3.4% YoY to $1,428, long-term investments decreased 2.5% QoQ to $16,599, and total investments showed higher unrealized losses.
- ·Net cash used in financing activities: $1,063 in Q1 2026 vs $250 in Q1 2025.
- ·Common stock repurchases: 866 shares for $30 million in additional paid-in capital adjustment.
- ·Medical claims liability: $20,627 as of March 31 2026, up slightly from $20,544 Dec 31 2025.
- ·Total investments fair value: $20,508 as of March 31 2026 with gross unrealized losses of $365, compared to $20,879 with $325 losses Dec 31 2025.
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