Super Funds Play Catch-Up in Wall Street Tech Rally
Today's must-reads:
• Superannuation funds run to catch the US tech wave
• Rinehart urges Australia to ditch net zero
• Pop Mart shares pop on Labubu news
Some superannuation funds are waking up to a harsh reality: they've been left behind by the market's hottest rally. Investors are discovering they're underexposed to names like Nvidia and Microsoft — both of which recently hit record highs. Now they're shifting course.
Canva launched an employee stock sale at a valuation of $42 billion, marking a significant leap in value for the Australian design software startup that's betting on artificial intelligence for growth.
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Yahoo
2 minutes ago
- Yahoo
Telix 2025 Half-Year Results: Strong commercial performance enables investment for long-term growth
MELBOURNE, Australia and INDIANAPOLIS, Aug. 21, 2025 (GLOBE NEWSWIRE) -- Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, "Telix") today announces its financial results for the half-year ended 30 June 2025. All figures are in USD unless stated otherwise. H1 2025 key results1 Group performance2: Reflects strategic investment for long-term value creation Revenue of $390.4 million, up by 63%3 and on track to meet full year guidance4. Group gross profit margin of 53% reflects product mix change to include third-party RLS sales. Illuccix® margin remains stable. Adjusted EBITDA5 of $21.1 million, reflective of increased operating expenditure driven by strategic acquisitions, investment in commercial infrastructure, and research and development (R&D) investment. $81.6 million invested into R&D, a 47% increase year-over-year. Investment was primarily focused on late-stage assets in the therapeutics and precision medicine pipeline. Full year R&D investment guidance is maintained6. Loss before tax of $4.8 million includes $12.4 million in non-cash finance costs associated with convertible bonds issued in July 2024 and increased amortization cost of $9.5 million (2024 $2.4 million) following RLS acquisition. Positive operating net cash flow of $17.7 million, cash balance $207.2 million following $241. 8 million of strategic merger and acquisition (M&A) investment. Telix Precision Medicine: Commercial business delivers profitable growth Precision Medicine segment revenue up by 30% compared to H1 2024, driven by continued increase in Illuccix dose volumes. Illuccix gross margin remains stable at 64%. Adjusted EBITDA up by 24% year-over-year to $104.6 million. Selling and marketing expenses of $40.9 million, reflecting incremental investment in commercial infrastructure for new product launches (Illuccix European launches and Gozellix®, Zircaix® and Pixclara®7). Telix Manufacturing Solutions (TMS): Investment in infrastructure to scale operations and meet future demand TMS segment includes RLS Radiopharmacies (RLS, U.S.8), IsoTherapeutics (TX, U.S.), and TMS facilities in Sacramento (CA, U.S.), Brussels South (Belgium), North Melbourne (Australia) and Yokohama (Japan), representing a significantly augmented global production and manufacturing footprint to support clinical and commercial operations. Operating expenses of $30.5 million for the segment include $14.9 million for RLS business and $15.6 million to support start-up and integration activities (ex-RLS). RLS – the core revenue driver in TMS – reported $109.5 million of revenue, which includes $79.0 million from third-party PET9 and SPECT10 product sales and distribution service fees, and $30.5 million inter-segment revenue. RLS delivered an Adjusted EBITDA loss of $1.1 million. RLS operating loss includes $6.3 million of depreciation and amortization. Telix Therapeutics: Reinvesting earnings to accelerate late-stage pipeline Of the total R&D investment, 54% ($43.9 million) was invested in the therapeutics pipeline. Milestones achieved include: TLX591 (177Lu-rosopatamab tetraxetan): Completed target enrollment of 30 patients for Part 1 of the Phase 3 study in advanced metastatic castration resistant prostate cancer (mCRPC). The trial has received regulatory approval to proceed in Australia, China, Canada, New Zealand, Turkey and Japan. TLX592 (225Ac-PSMA-RADmAb): Approval to commence a Phase 1, first-in-human therapeutic study of a targeted alpha therapy in advanced mCRPC. TLX101 (131I-iodofalan, or 131I-IPA): Approval to commence IPAX BrIGHT, an international pivotal trial, to commence at Australian sites initially. TLX090 (153Sm-DOTMP): Investigational New Drug (IND) application approved for a Phase 1 bridging study for Telix's therapeutic candidate for the palliation of bone pain in patients with osteoblastic metastatic disease to the bone. Commentary Managing Director and Group CEO, Dr. Christian Behrenbruch, commented on the result: 'Telix continues to deliver strong revenue growth while building a foundation for the future. The first half of 2025 was a period of rapid transformation as we expanded our global manufacturing operations, invested in launching new products in new markets, and accelerated the development of our therapeutic pipeline. These investments have positioned Telix for sustainable, long-term growth, while our diversified business provides multiple drivers of success. To generate future revenue growth, we are confident in securing product approvals for Pixclara and Zircaix while advancing geographic and indication expansion for the PSMA portfolio.' Summary Group financial results H1 2025 H1 2024 US$M US$M Revenue 390.4 239.6 Cost of sales (181.8 ) (82.4 ) Gross profit 208.6 157.2 Research and development (R&D) (81.6 ) (55.4 ) Selling and marketing (49.0 ) (24.6 ) Manufacturing and distribution (18.8 ) (8.4 ) General and administration (47.7 ) (39.2 ) Other losses (net) (1.1 ) (1.9 ) Operating profit 10.4 27.7 Finance income 3.6 0.9 Finance costs (18.8 ) (5.7 ) (Loss)/profit before tax (4.8 ) 22.9 Adjusted EBITDA 21.1 37.1 Cash from operating activities 17.7 23.3 Guidance Telix confirms FY 2025 revenue guidance of US$770 million to US$800 million11. Guidance reflects revenue from Illuccix sales in jurisdictions with a marketing authorization, and 11 months of revenue contribution from RLS12. Telix confirms R&D expenditure guidance, expecting a year-over-year increased investment range for FY 2025 of 20% to 25% compared to FY 2024. lnvestor call An investor webcast and conference call will be held at 9.30am AEST on Thursday 21 August 2025 (7.30pm EDT Wednesday 20 August 2025). Participants can register for the webcast by clicking here: or the teleconference here: About Telix Pharmaceuticals Limited Telix is a biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals and associated medical technologies. Telix is headquartered in Melbourne, Australia, with international operations in the United States, United Kingdom, Canada, Europe (Belgium and Switzerland), Brazil and Japan. Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (NASDAQ: TLX). Visit for further information about Telix, including details of the latest share price, ASX and U.S. Securities and Exchange Commission (SEC) filings, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on LinkedIn, X and Facebook. Telix Investor Relations (Global) Ms. Kyahn WilliamsonTelix Pharmaceuticals LimitedSVP Investor Relations and Corporate Communications Email: Telix Investor Relations (U.S.) Ms. Annie KasparianTelix Pharmaceuticals LimitedDirector Investor Relations and Corporate Communications Email: Guidance Disclaimer The stated revenue guidance is based on expected global and domestic economic conditions and is subject to known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially. As such, investors are cautioned not to place undue reliance on this guidance and in particular Telix cannot guarantee a particular result. In compiling financial forecasts, a number of key variables that may have a significant impact on guidance have been identified and are listed below. Key variables that could cause actual results to differ materially include: the success and timing of research and development activities; decisions by regulatory authorities regarding approval of our products as well as their decisions regarding label claims; competitive developments affecting our products; the ability to successfully market new and existing products; difficulties or delays in manufacturing; trade buying patterns and fluctuations in interest and currency exchange rates; legislation or regulations that affect product production, distribution, pricing, reimbursement, access or tax; acquisitions and divestitures; research collaborations; litigation or government investigations; and Telix's ability to protect its patents and other intellectual property. This announcement has been authorized for release by the Telix Pharmaceuticals Limited Board of Directors Legal Notices Cautionary Statement Regarding Forward-Looking Statements. You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website. The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement. This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as 'may', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'outlook', 'forecast' and 'guidance', or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix's good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix's business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the contextof Telix's business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix's preclinical and clinical trials, and Telix's research and development programs; Telix's ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix's product candidates, manufacturing activities and product marketing activities; Telix's sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix's product candidates, if or when they have been approved; Telix's ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix's expenses, future revenues and capital requirements; Telix's financial performance; developments relating to Telix's competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix's business; and the pricing and reimbursement of Telix's product candidates, if and after they have been approved. Telix's actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements. Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties. ©2025 Telix Pharmaceuticals Limited. All rights reserved. See summary Group financial results table at end of this document. Group performance includes Telix Precision Medicine, Telix Therapeutics and Telix Manufacturing Solutions (TMS). All comparisons to H1 2024 results. FY 2025 revenue guidance of US$770 million to US$800 million. Earnings before interest, tax, depreciation and amortization. Increased investment range for FY 2025 expected to be 20% to 25% compared to FY 2024. Launch and brand names subject to final regulatory approval. RLS network is comprised of 28 locations across the U.S. Positron emission tomography. Single photon emission computed tomography. Refer to ASX disclosures 20 February 2025. See Guidance Disclaimer for further information.
Bloomberg
5 minutes ago
- Bloomberg
Commonwealth Bank Reverses Job Cuts Decision Over AI Chatbots
Commonwealth Bank of Australia reversed a decision to cut 45 customer service roles due to new artificial intelligence technology after pressure from the country's main financial services union. The union took CBA to the workplace relations tribunal earlier this month as the company wasn't being transparent about call volumes, according to a statement Thursday from the Finance Sector Union. The nation's largest lender had said that the voice bot reduced call volumes by 2,000 a week, when union members said volumes were in fact rising and CBA had to offer staff overtime and direct team leaders to answer calls, the union said.
Yahoo
29 minutes ago
- Yahoo
How to Play Nvidia Stock as the Plot Over Its China Business Thickens
It's hard to keep Nvidia (NVDA), the world's biggest company and the first one to command a $4 trillion market cap, out of the news cycle. Over the last few weeks, Nvidia has been in the news regarding its China business, and most recently, Reuters reported that the company is developing a new chip for China. In this article, we'll look at some of the recent developments related to Nvidia's China business and examine the company's outlook. More News from Barchart Should You Buy the Pullback in Palantir Stock Today? The Quantum Computing Race Is On: These 2 Stocks Appear Poised to Lead As SoFi Launches International Money Transfer Services, How Should You Play SOFI Stock? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Successive U.S. Governments Have Clamped Down on NVDA's Exports to China Why Nvidia's chips have been the building blocks for artificial intelligence (AI) models, they have also added a new dimension to the U.S.-China rivalry. President Joe Biden's administration imposed restrictions on Nvidia's export of advanced AI chips to China, citing fears over their dual military use. President Donald Trump's administration went a step further and blocked the exports of Nvidia's H20 chips to China. Nvidia had specifically designed these chips for China to meet the guidelines set by the U.S. government, and after the ban, it booked a charge of $4.5 billion in the first quarter of its fiscal 2026. Why Is China an Important Market for Nvidia? China was once Nvidia's second-largest market, but U.S. export control restrictions have taken a toll on its business there. During the fiscal Q1 2026 earnings call in May, CFO Collete Kress said, 'Losing access to the China AI accelerator market, which we believe will grow to nearly $50 billion, would have a material adverse impact on our business going forward and benefit our foreign competitors in China and worldwide.' Nvidia CEO Jensen Huang has said multiple times that the export restrictions would only fuel chip innovation in China as rivals, particularly Huawei, catch up. While the Trump administration has allowed Nvidia to resume H20 exports to China, the company will need to share 15% of its China revenues with the U.S. government. The unusual agreement left markets perplexed, as the ostensible reason the U.S. banned exports of advanced AI chips to China was because of national security concerns, and a cut in revenues does not help address that. Many see legal challenges to the revenue share agreement, and separately, lawmakers across the political divide have been critical of the export resumption. Reports suggest that Nvidia is developing a new AI chip for China. Tentatively named B30A, it is said to be based on the company's Blackwell architecture and would be more powerful than the H20, which is currently its most advanced chip sold in China. In its response to the reports of the new chip for China, Nvidia said, 'We evaluate a variety of products for our roadmap, so that we can be prepared to compete to the extent that governments allow.' It emphasized, 'Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use.' China Does Not Looks Too Welcoming of Nvidia's H20 Meanwhile, the Chinese government hasn't been too welcoming of the H20 chip these days and has cautioned domestic companies against using these over fears of a U.S. government 'backdoor.' Nvidia has denied any such claims, but it remains to be seen whether Chinese companies defy the government warning to buy the H20. NVDA Stock Forecast Wall Street analysts are meanwhile not too perturbed by these concerns and have started raising Nvidia's target price ahead of its upcoming earnings report. TD Cowen raised Nvidia's target price to $235 and sees a 'clean narrative' for the stock despite concerns over its China business. Cantor Fitzgerald raised its target price from $200 to $240 as analyst C.J. Muse sees 'seemingly insatiable' demand for AI compute. Mizuho raised its target price from $192 to $205, while Morgan Stanley raised its from $200 to $206. All three brokerages expect Nvidia to beat consensus estimates when it reports its fiscal Q2 2026 earnings next week. Should You Buy NVDA Stock? While Nvidia's China business is shrouded in uncertainty, the company's non-China business is doing incredibly well. The June quarter earnings calls of other Big Tech companies, which include the so-called hyperscalers, showed that companies are not slowing down their AI capex, and if anything, they are doubling down amid early signs of monetization. Sovereign AI is yet another growth driver for Nvidia, as, given the growing importance of AI, major countries want to have more control over the technology. Huang has been globe-trotting for a reason and has been pitching sovereign AI on his trips to the Middle East and the European Union this year. Nvidia trades at a forward price-earnings (P/E) multiple of 45.2x, which does not look bloated in the context of the strong earnings growth that the company brings to the table. Moreover, markets never fully priced in a normal business environment for Nvidia in China, and any sales in the country would be incremental to Nvidia's top line and bottom line despite the 15% revenue share with the U.S. government. Overall, while the noise over the China business might put pressure on Nvidia stock in the near term, I continue to stay invested in the company and will use any further weakness to add to my positions. On the date of publication, Mohit Oberoi had a position in: NVDA. All information and data in this article is solely for informational purposes. This article was originally published on Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
