UBS' Suresh Tantia Sees Positive Outlook for Asian Tech Stocks
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FlexGen completes Powin assets acquisition, enhancing storage support
Energy storage technology provider FlexGen Power Systems has closed the acquisition of assets and intellectual property (IP) from Powin. The move positions FlexGen as a major supporter of more than 25 gigawatt hours (GWh) of battery energy storage systems (BESS) across more than 200 sites in ten countries with its software and services. In early August 2025, the company received approval from the US Bankruptcy Court for the District of New Jersey for the acquisition. The acquisition enhances FlexGen's international standing within grid-scale storage solutions. It comes at a crucial time when energy infrastructures globally face increased demand for reliable performance. FlexGen CEO Kelcy Pegler stated: 'Batteries are critical to meeting the world's growing demand for affordable, reliable electricity. This is more than an acquisition – it's a reflection of FlexGen's commitment to immediate continuity and the future of grid-scale storage. 'FlexGen's proven operational excellence, hardware-agnostic software and commitment to innovation uniquely position us to maximise the value of these Powin assets today, while enhancing the reliability and performance of energy grids worldwide for years to come.' FlexGen has also strengthened its workforce by integrating former Powin team members. This ensures that customers experience seamless service continuity and retain critical technical knowledge for the supported systems. Existing clients of Powin will continue to receive consistent support without interruption, and have the opportunity to improve system uptime and longevity by transitioning to FlexGen's proprietary HybridOS platform alongside their comprehensive lifecycle services. Powin CEO Brian Kane stated: "Powin is proud of the technology and projects we've delivered. The goal was to ensure that those systems and customers are supported by an industry leader that provides the support and services enabling reliable, long-term operation. 'Based on their experience and reputation, and having collaborated with their team in recent days, we have full confidence that FlexGen is that leader.' In April 2025, Trina Storage partnered FlexGen to implement a 371 megawatt hour energy storage system in the US state of Texas. The project, developed by SMT Energy, showcases Trina Storage's cutting-edge Elementa 2 solution. "FlexGen completes Powin assets acquisition, enhancing storage support" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Target beat low earnings expectations as sales continue to fall
Target (TGT) continues to miss the mark on earnings day. The results on Wednesday morning aren't as shockingly bad as the first quarter, but the retailer is still struggling to find its place in the new economic norm of more discerning shoppers. Target's second quarter earnings narrowly surpassed consensus forecasts as it wrung out cost savings. The company also maintained the full-year outlook it slashed three months ago. But headwinds from a pressured US consumer, an influx of tariffs from the Trump administration, market-share loss to rival Walmart (WMT), and operational challenges were apparent. Target's comparable sales fell 1.9% from a year ago, led by a 3.2% drop at its stores. Comparable digital sales increased 4.3%. Gross profit margins declined to 29% from 30% a year ago. "While we're not pleased with the results, we're encouraged by the improved performance as we go into the third quarter of the year," Target chair and CEO Brian Cornell told me by video call. Target's stock is down 23% in 2025, compared to Walmart's 13% gain. Fixing what ails Target is about to be someone else's responsibility. Target is tapping a homegrown talent as its next CEO at one of the most pivotal moments in the company's 63-year history. The discounter announced that longtime CEO Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Cornell, who has been CEO of Target since August 2014, will slide into the executive chair position for an undetermined period of time. Fiddelke joined Target in 2003 as an intern and rose through the ranks to CFO and then COO. Earnings analysis Second quarter net sales: -0.9% year over year to $25.2 billion, vs. estimates for $24.53 billion Gross profit margin: 29% vs. 30% a year ago, vs. estimates for 28.08% Diluted earnings per share: -20.2% year over year to $2.05, vs. estimates for $2.01 Comparable sales: -1.9% year over year, vs. -3.14% estimate (Last year, comparable sales rose 2%.) Digital comparable sales: +4.3% What else caught our attention Inventory rose +2.2% from the year-ago period (estimates: +3.44%). The company didn't repurchase any stock in the quarter; $8.4 billion remains available to repurchase under a prior authorization. The number of transactions fell 1.3% in the quarter, and the average transaction amount dropped 0.6%. Full-year earnings per share are projected to be $7 to $9 (fiscal year 2024: $8.86), compared to estimates of $7.28. Comparable sales down by a low-single-digit percentage. Previous guidance (May): $7 to $9; low-single-digit percentage drop in comp sales. Original 2025 guidance: $8.80 to $9.80. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Estee Lauder falls sharply after cutting profit outlook on weak demand, tariffs
-- Estee Lauder (NYSE:EL) saw its shares tumble over 10% on Wednesday after the cosmetics giant forecast annual profit below Wall Street expectations on Wednesday, citing ongoing weakness in demand in the U.S. and China as well as tariff uncertainty. The company said it expects about $100 million in profitability headwinds in fiscal 2026, even after mitigation efforts. "The company continues to closely monitor evolving trade policies and enacted tariffs, and its task force has been actively evaluating developments and mitigation strategies to reduce the potential impacts of tariffs," Estee said in the release. Estee Lauder guided full-year adjusted earnings per share in a range of $1.90 to $2.10, short of analysts' forecast of $2.21, according to LSEG data. Organic net sales are expected to grow between 0% and 3% this year. For its fiscal fourth quarter, Estée Lauder posted earnings per share (EPS) of $0.09, a penny ahead of estimates. Revenue was $3.41 billion, slightly above the $3.39 billion consensus. Organic net sales decreased 13%, led by weakness in Skin Care and Makeup. Net sales fell across all geographic regions, led by declines in the company's global travel retail business and North America, the company said. 'Despite continued volatility in the external environment, we embarked on fiscal 2026 with signs of momentum and confidence in our outlook to deliver organic sales growth this year after three years of declines and to begin rebuilding operating profitability in pursuit of a solid double-digit adjusted operating margin over the next few years," said Stephane de La Faverie, President and CEO of Estee Lauder. By segment, Skin Care sales declined 17% in the fourth quarter, driven by lower demand for Estée Lauder and La Mer. Makeup revenue dropped 12%, Hair Care fell 15%, while Fragrance rose 2%. Related articles Estee Lauder falls sharply after cutting profit outlook on weak demand, tariffs Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse If Powell goes, does Fed trust go with him? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
