FCPT Announces Acquisition of Six Novant Health Urgent Care Properties for $12.0 Million
Novant Health is an integrated network of more than 900 locations, including 19 hospitals, more than 750 physician clinics and urgent care centers, outpatient facilities, and imaging and pharmacy services.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
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CBC
23 minutes ago
- CBC
Nvidia, AMD to pay 15% of China chip sale revenue to U.S. government
Nvidia and AMD agreed to share 15 per cent of their revenues from chip sales to China with the U.S. government, a U.S. government official said on Sunday, in an unusual move likely to faze American companies. U.S. President Donald Trump's administration halted the sale of advanced computer chips to China in April over national security concerns, but Nvidia and AMD revealed in July that Washington would allow them to resume sales of the H20 and MI308 chips, which are used in artificial intelligence development. The official, who insisted on anonymity to discuss a policy not yet formally announced, confirmed to The Associated Press the revenue sharing terms of the deal, and said the broad strokes of the initial report by The Financial Times were accurate. Nvidia and AMD reportedly agreed to the financial arrangement as a condition for obtaining export licences to resume sales to China. AMD said on Monday that the U.S. government had approved its licence applications to export its chips to China. Nvidia did not comment about the specific details of the agreement or its quid pro quo nature, but said it would adhere to the export rules laid out by the administration. "We follow rules the U.S. government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide," Nvidia wrote in a statement. "America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race." The top Democrat on a House panel focusing on competition with China raised concerns over the reported agreement, calling it "a dangerous misuse of export controls that undermines our national security." Rep. Raja Krishnamoorthi, the ranking member of the House Select Committee on China, said he would seek answers about the legal basis for this arrangement and demand full transparency from the administration. "Our export control regime must be based on genuine security considerations, not creative taxation schemes disguised as national security policy," he said. "Chip export controls aren't bargaining chips, and they're not casino chips either. We shouldn't be gambling with our national security to raise revenue." Lingering questions about national security In July, Nvidia argued that tight export controls around its chip sales would cost the company an extra $5.5 billion. It has argued that such limits hinder U.S. competition in a sector in one of the world's largest markets for technology, and has also warned that U.S. export controls could end up pushing other countries toward China's AI technology. The deal to pay the U.S. government from sales in China is unusual for a president, and marks Trump's latest intervention in corporate decision-making. Trump harangues company executives to invest in the United States to shore up domestic jobs and manufacturing. Last week, he demanded new Intel CEO Lip-Bu Tan immediately resign, calling him "highly conflicted" due to his ties to Chinese firms. "It's wild," said Geoff Gertz, a senior fellow at Center for New American Security, an independent think-tank in Washington, D.C. "Either selling H20 chips to China is a national security risk, in which case we shouldn't be doing it to begin with, or it's not a national security risk, in which case, why are we putting this extra penalty on the sale?" Commerce Secretary Howard Lutnick told CNBC in July that the renewed sale of Nvidia's chips in China was linked to a trade agreement made between the two countries on rare earth magnets. Restrictions on sales of advanced chips to China have been central to the AI race between the world's two largest economic powers, but such controls are also controversial. Proponents argue that these restrictions are necessary to slow China down enough to allow U.S. companies to keep their lead. Meanwhile, opponents say the export controls have loopholes — and could still spur innovation. The emergence of China's DeepSeek AI chatbot in January particularly renewed concerns over how China might use advanced chips to help develop its own AI capabilities.
Globe and Mail
32 minutes ago
- Globe and Mail
Can Solid Automotive Revenues Propel QCOM Stock Amid Tariff Woes?
Qualcomm Incorporated QCOM reported relatively robust third-quarter fiscal 2025 results, with adjusted earnings exceeding the Zacks Consensus Estimate, driven by healthy demand trends in IoT and automotive businesses. The automotive telematics and connectivity platforms, digital cockpit and C-V2X solutions are fueling emerging automotive industry trends such as the growth of connected vehicles, the transformation of the in-car experience and vehicle electrification. Qualcomm believes it is on track to achieve a combined $22 billion in revenues from automotive and IoT by fiscal 2029. Automotive revenues rose 21% to a record high of $984 million, driven by increased content in new-vehicle launches with the Snapdragon Digital Chassis platform as automakers continue to deploy high-performance, low-power computing and connectivity chips to bring next-generation experience to consumers. IoT revenues were up 24% to $1.68 billion on solid demand for the Snapdragon AR1 chipset for the emerging artificial intelligence (AI) smart glasses category. In fiscal 2025, Qualcomm expects IoT and automotive revenues to grow approximately 20% and 35%, respectively. Snapdragon Traction Buoys QCOM Qualcomm is also benefiting from investments toward building a licensing program in mobile. The company is well-positioned to meet its long-term revenue targets driven by solid 5G traction, greater visibility and a diversified revenue stream. In addition, the chip manufacturer envisions solid growth opportunities within the mobile space, driven by the strength of its Snapdragon portfolio. Leveraging processors with multi-core CPUs with cutting-edge features, amazing graphics and worldwide network connectivity, Qualcomm Snapdragon mobile platforms are fast with superb power efficiency. Smartphones and mobile devices built with Snapdragon mobile platforms enable immersive augmented reality and virtual reality experiences, brilliant camera capabilities, superior 4G LTE and 5G connectivity with state-of-the-art security solutions. Qualcomm is currently foraying deeper into the realm of AI capabilities within the laptop and desktop business with the launch of the Snapdragon X chip for mid-range AI desktops and laptops. The Snapdragon X SoC (system-on-chip) is the fourth such product in the Snapdragon X processor line, following the successful launch of the Snapdragon X Plus 8-core, Snapdragon X Plus and Snapdragon X Elite series. Based on a 4-nanometer process, the Snapdragon X chip comprises an 8-core Oryon central processor, a graphics component and a neural processing unit (NPU). The NPU accelerates AI workloads, offering 45 TOPS (trillions of operations per second), making it an ideal platform to power Copilot+PCs – Microsoft Corporation 's MSFT vision of AI-first, flagship Windows hardware. Bitter Trade Relations With China Hurt QCOM Despite the healthy growth dynamics, Qualcomm is increasingly finding it difficult to maintain its operations in China. The chip-making firm has a significant presence in more than 12 cities in China and has been a key supplier of chips and other related components to local smartphone manufacturers like Xiaomi, Huawei and its spin-off brand Honor. Much of these hardships can be attributed to the continued U.S.-China trade spat. The U.S. Commerce Department has long imposed various trade restrictions against China that ban the sale of high-tech equipment, chips, components and related technology to develop high-end smartphones and AI-enabled chips. With Trump imposing fresh levies on China in his second term in office, Beijing has also put reciprocal tariffs in place as a 'tit-for-tat' measure, adversely impacting Qualcomm's revenues. With the high-stakes tariff truce extension hanging in the balance, the company is finding it difficult to maintain its growth in China. High R&D Costs Dent QCOM Margins Over the years, Qualcomm's margins have declined due to high operating expenses and R&D (research & development) costs. The company expects softness in the handset market and a weaker overall mix of devices to continue in the near future. Shift in the share among original equipment manufacturers at the premium tier has reduced Qualcomm's near-term opportunity to sell integrated chipsets from the Snapdragon platform. Aggressive competition from low-cost chip manufacturers and established players in the mobile phone chipset market is also likely to hurt Qualcomm's profits. Although the global smartphone market is expected to maintain its momentum over the next three to four years, a major portion of this growth is likely to come from the low-cost emerging markets, which may weigh on Qualcomm's margins. Price Performance QCOM shares have declined 9.4% over the past year against the industry 's growth of 51.5%, lagging peers like Hewlett Packard Enterprise Company HPE and Broadcom Inc. AVGO. While Hewlett Packard gained 21.1%, Broadcom surged 105.2% during this period. One-Year QCOM Stock Price Performance Estimate Revision Trend for QCOM Earnings estimates for Qualcomm for fiscal 2025 have moved up 7.9% to $11.85 over the past year, while the same for fiscal 2026 has declined 2.7% to $11.86. The mixed bag of estimate revisions depicts that investors are skeptical about the growth prospects of the stock. End Note With robust automotive and Snapdragon traction, Qualcomm appears to be relatively better placed in terms of its portfolio strength. A strong emphasis on quality, diligent execution of operational plans and continuous portfolio enhancements are driving more value for customers. However, stiff competition and softness in key end markets are likely to put pressure on the bottom-line growth. High R&D costs eroded its profitability to a large extent. Qualcomm is reportedly undertaking job cuts and retrenchments to sustain its business in China amid escalating tariffs, raising questions about its long-term viability plans in the communist country. The mixed earnings estimate revisions also put a question mark on the company's growth prospects. With a Zacks Rank #3 (Hold), Qualcomm appears to be treading in the middle of the road, and investors could be better off if they trade with caution. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. See our %%CTA_TEXT%% report – free today! 7 Best Stocks for the Next 30 Days Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Broadcom Inc. (AVGO): Free Stock Analysis Report Hewlett Packard Enterprise Company (HPE): Free Stock Analysis Report
CTV News
an hour ago
- CTV News
Lithium stocks rally as CATL mine halt raises prospects of tighter supply
A container of lithium carbonate sits in a shipping warehouse at a lithium facility, in Silver Peak, Nev., Thursday, Oct. 6, 2022. (THE CANADIAN PRESS/AP-John Locher) Shares of lithium producers surged on Monday after Chinese battery giant Contemporary Amperex Technology (CATL) halting output at a major mine raised hopes it would erode the oversupply in a market grappling with soft demand. During morning trade, Albemarle Corp jumped 10.2 per cent, while Chile's Sociedad Quimica y Minera rose 9.2 per cent and Lithium Americas gained 2.4 per cent. Smaller companies, Standard Lithium, Piedmont Lithium and Sigma Lithium advanced between 6.2 per cent and 19.6 per cent. Chinese and Australian miners also rallied. The lithium sector has been struggling with a glut following weaker-than-anticipated growth in demand for electric vehicles. The most active lithium carbonate futures in Guangzhou rose the eight per cent daily limit after CATL said its mining license for the Yichun project in Jiangxi province expired on Aug. 9 and renewal was underway. The site can produce more than 46,000 metric tons of lithium carbonate equivalent a year, roughly three per cent of the global supply forecast for 2025, according to data from the Australian government. Morgan Stanley analysts said the outage could erode the small 60,000-tonne surplus it expects for 2025, bringing 'upside risk to lithium prices in the short term' and potentially moving the market closer to balance if other disruptions follow. Longer-term, they expect a surplus to re-emerge without further supply discipline. Morningstar analyst Vincent Sun said the suspension was 'an indication that the industry is taking proactive steps to contain further lithium price falls observed year-to-date.' With lithium prices now below the marginal cost of production, the move could be perceived as a positive driver to limit supply growth and rebalance the market, he said, but added it was 'still too early to confirm a price recovery trend for the rest of the year.' (Reporting by Arunima Kumar in Bengaluru; Editing by Leroy Leo)
