Jack Dorsey's Block Lifts Forecast on Cash App Lending Strength
The Oakland-based company now expects to generate $10.17 billion in gross profit this year, up from a prior forecast of $9.96 billion. Shares of Block rose about 8% in after-hours trading in New York.
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Gold Notches Small Gain as US Inflation Data Aids Rate-Cut Bets
(Bloomberg) -- Gold extended a modest gain, following a US inflation reading that was in line with expectations and reinforced wagers on the Federal Reserve cutting interest rates next month. Bullion edged up after closing 0.2% higher in the previous session, after underlying US inflation accelerated to the strongest since the start of the year — though a tepid rise in goods prices eased concerns about tariff-driven pressures. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets The data boosted speculation that the Fed will reduce borrowing costs next month, especially given a softening labor market. Gold, which pays no interest, typically benefits in a lower rate environment. Traders are still on the lookout for clarification on whether gold bar imports would be subject to tariffs. The US Customs and Border Protection agency stunned the market last week by saying they would be subject to duties, which prompted a spike in the premium for gold futures in New York over the spot price in London. On Monday, Trump said there would not be a levy but didn't elaborate. Futures and spot prices continued to converge after Trump's latest comments. The December contract on New York's Comex held near $3,400 an ounce on Wednesday, while spot gold traded near $3,355 an ounce. Gold has climbed about 28% this year, with the bulk of those gains in the first four months. It has been supported by heightened geopolitical and trade tensions that have spurred haven demand, along with strong central bank purchases. Spot gold edged 0.4% higher to $3,360.70 an ounce at 8:25 a.m. in London. The Bloomberg Dollar Spot Index was down 0.1%, after posting a 0.4% loss on Tuesday. Silver climbed as much as 1.3%, while platinum and palladium also gained. Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Dubai's Housing Boom Is Stoking Fears of Another Crash The Social Media Trend Machine Is Spitting Out Weirder and Weirder Results A $340 Million New York Office Makeover Is Converting Boardrooms to Bedrooms ©2025 Bloomberg L.P. 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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Martinrea International Inc (MRETF) Q2 2025 Earnings Call Highlights: Strong Financial ...
Adjusted Operating Income: $86.1 million, up from $81.6 million in Q2 of last year. Adjusted Operating Income Margin: 6.8%, up 50 basis points year over year. Free Cash Flow (before IFRS 16 lease payments): $72 million, up from $51.7 million in Q2 of last year. Free Cash Flow (including IFRS 16 lease payments): $57.9 million. Adjusted Net Earnings Per Share: $0.66, up from $0.58 in Q2 of 2024. Net Debt: Decreased by approximately $73 million to $792 million. Net Debt to Adjusted EBITDA Ratio: 1.5x, down from 1.64x in Q1. 2025 Outlook: Total sales of $4.8 billion to $5.1 billion, adjusted operating income margin of 5.3% to 5.8%, and free cash flow of $125 million to $175 million. New Business Awards: $40 million in annualized sales, with $18 million from Stellantis and $22 million from Volkswagen and Volvo trucks. Warning! GuruFocus has detected 3 Warning Signs with MRETF. Release Date: August 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Martinrea International Inc (MRETF) reported a strong second quarter with stable production levels, good profits, operating margin, and free cash flow. The company achieved notable margin improvements compared to the first quarter, driven by operational enhancements and negotiated commercial recoveries. Martinrea's machine learning initiatives, including adaptive welding software and AI vision systems, have resulted in significant cost savings and efficiency improvements. The company has been awarded new business worth $40 million in annualized sales, indicating a healthy pipeline and growth potential. Martinrea is on track to meet its 2025 outlook, with strong free cash flow generation and a solid balance sheet, maintaining a net debt to adjusted EBITDA ratio of 1.5x. Negative Points The company faces some tariff exposure, particularly from Tier 2 suppliers and parts affected by steel and aluminum tariffs, although it is considered manageable. Production sales are expected to be lower in the second half of the year due to typical seasonal patterns, which may impact margins. There are uncertainties regarding the impact of tariffs and the strength of the US economy in the second half of the year. Commercial recoveries in Europe have been limited, and the timing of these negotiations is somewhat out of the company's control. The company is maintaining a minimal footprint in the Rest of the World segment, which can result in profit swings due to changes in volumes and commercial settlements. Q & A Highlights Q: Can you provide additional commentary on the back-half margin guide, considering the strong margins despite lower sales in North America? A: Peter Cirulis, CFO: The second half will be impacted by seasonal adjustments, with production levels expected to be lower. There were some one-time favorable effects in Q2 that won't repeat in the second half, including contractual price reductions with certain customers. However, we expect a strong performance in the third quarter, with some opacity in the fourth. Q: Are there specific facilities in North America driving productivity and efficiency improvements? A: Pat D'Eramo, CEO: We don't focus on specific facilities, but our lean manufacturing journey is showing results across the board. Some plants are particularly advanced, and our machine learning initiatives are contributing to improvements. Overall, our operations are performing well globally. Q: Will there be any commercial recoveries in Europe in the second half of the year? A: Peter Cirulis, CFO: Commercial recoveries are somewhat unpredictable in terms of timing, but we expect some issues to be resolved in the second half. Over time, we anticipate fewer recoveries as the industry normalizes. Q: How do you view the impact of tariffs on your North American operations, given the strong margins? A: Peter Cirulis, CFO: There was a tariff headwind in Q2, but it was manageable. We expect to recover a large extent of this impact by year-end. The strong margins are also supported by our operational improvements and commercial activities. Q: With discussions on production reshoring, what are the implications for your facilities in Canada and Mexico? A: Pat D'Eramo, CEO: It depends on the source of the work. If it's new work from Asian or European OEMs, we will place it where it makes logistical sense. For work moving within North America, our existing footprint is well-positioned to handle it. This could create opportunities for our Canadian facilities. Q: What is your outlook on CapEx, given the recent trends? A: Peter Cirulis, CFO: We are comfortable with a $300 million CapEx target, but it could vary depending on the cadence of our launches and program extensions. We aim to align CapEx with depreciation. Q: How do you view the valuation of Martinrea compared to US peers, and would you consider re-domiciling to the US? A: Robert Wildeboer, Executive Chairman: We acknowledge the valuation discount and have bought back shares. Re-domiciling has tax implications, but we are aware of the value and will consider different strategies. We believe our shares are undervalued, which is why we've been buying them back. Q: What are your thoughts on the investment in NanoXplore and the potential of graphene? A: Robert Wildeboer, Executive Chairman: We believe graphene has a promising future and have used it in leading-edge products. While we don't use a large quantity, it contributes to our profitability. We are optimistic about its potential applications and the recognition of its value. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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CoinDesk owner Bullish prices IPO above range at $37/share
NEW YORK (Reuters) -Bullish, a cryptocurrency exchange operator that counts billionaire Peter Thiel amongst its backers, priced its U.S. initial public offering above its indicated range at $37 per share, the company said in a statement on Tuesday. 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
