Latest news with #Melius
Yahoo
a day ago
- Business
- Yahoo
Melius Research warns that things ‘can get worse for SaaS players like Adobe'
-- Melius Research downgraded Adobe (NASDAQ:ADBE) to Sell in a note Monday, warning that the shift toward artificial intelligence is triggering 'a multiple contraction phase in early innings' for leading SaaS companies. 'The world is coming around to the reality that 'AI is eating software,'' Melius wrote, noting that former darlings like Adobe, Atlassian (NASDAQ:TEAM), and Salesforce (NYSE:CRM) are each down more than 20% year-to-date. The firm sees parallels to the early 2000s, when cloud computing 'decimated' valuations for Dell (NYSE:DELL), HP (NYSE:HPQ), and IBM (NYSE:IBM). 'Just when you thought the coast was clear, their PE multiples kept going lower and lower—from the 20s to mid-single digits,' the analysts said. The threat for SaaS, Melius warned, is that 'almost anyone… can create an application so great that it can compete quickly and potently' thanks to AI, undermining the advantages of subscription-based models. AI is 'likely to kill seat growth' as companies consolidate roles in marketing, sales, creative, and HR departments. On Adobe specifically, Melius cited 'increased competition' from AI-first players like Figma, Canva, and Runway, as well as from large cloud providers such as Google (NASDAQ:GOOGL), which can 'easily create image and video generation tools that literally blow you away.' The firm expressed skepticism over Adobe's ability to monetize AI tools like Firefly, warning that customers may resist paying more when 'there are AI-first options from others.' Melius cut its FY26 and FY27 estimates, now forecasting 7% revenue growth to $25.1B in 2026 and just 4% growth to $26.0B in 2027. Its new $310 price target, based on ~13x FY27 EPS, reflects 'odds on downward revisions over the next 4–8 quarters' as 'pretty darn high.' Bottom line, the analysts said: 'It can get worse for SaaS players like Adobe… value [is] continuing to shift toward infrastructure winners like Microsoft (NASDAQ:MSFT) and Oracle (NYSE:ORCL).' Related articles Melius Research warns that things 'can get worse for SaaS players like Adobe' Risks Rising? Smart Money Dodged 46%+ Drawdowns on These High-Flying Names 7 Undervalued Stocks on the Rise With 50%+ Upside Potential Sign in to access your portfolio
Daily Mail
4 days ago
- Entertainment
- Daily Mail
Popular Long Island wedding venue files for bankruptcy
You would think that the place that held Kevin Jonas ' wedding and was the backdrop to Taylor Swift 's Blank Space music video would be endlessly successful. But it has now come to light that the popular venue - Oheka Castle in Huntington, Long Island - has filed for bankruptcy. The Chapter 11 filing came with the property only having $57.27 left in its checking out with no cash on hand, according to court documents filed in the US Bankruptcy Court for the Eastern District of New York. Kahn Property Owner LLC - its ownership entity - also reported to owe a staggering $63.5 million to creditors. By filing for bankruptcy, Melius' hope is that he doesn't have to see it go up for auction. The filing means that the property won't be totally liquidated and so the popular venue - which also served as the set for Orson Welles' Citizen Kane and HBO's Succession - can continue. A Chapter 11 filing entails a process of financial reorganization rather than total liquidation. 'The weddings are all still on,' Melius told Newsday as a result, explaining that any bookings that have been made will continue without disruption. The castle was originally 109,000 square feet when it was built in the 1920s. But since the addition of the Terrace Room in 2003 - built to accommodate bigger parties - Oheka Castle is now an incredible 115,000 square feet with 117 rooms and 50 baths. The castle also includes a hotel, restaurant, and several events space. For those who choose to get married on the sprawling estate, couples can invite up to 350 guests. While weddings start at about $70,000 for 50 guests, the price can go up to $300,000. If you're just interested in staying in the hotel, a nightly stay starts at $495 and goes up to $1,295 a night if you get a suite. The castle also offers special 'weekday packages' for couples looking for a romantic getaway or even expecting parents. One of these packages - dubbed the Ultimate Romantic Evening Package for Two - costs $15,000. This package includes a one-night stay in a luxury suite, round-trip limousine service, exclusive use of the ballroom, a seven-course gourmet dinner, white glove butler service, and much more. And thanks to Melius's decision, if you're looking for a luxury wedding, the backdrop to your next music video, or a $15,000 night of romance, you can still have it at the Oheka Castle.
New York Post
5 days ago
- Business
- New York Post
LI's beloved Oheka Castle wedding venue files for bankruptcy — with $57 in its checking account and $63M due to creditors
The owner of an iconic Long Island castle has filed for bankruptcy. Oheka Castle in Huntington is known for its lavish weddings and high-profile appearances in TV and film. The 109,000-square-foot chateau was built in the 1920s and includes a hotel, a restaurant and event spaces. The recent Chapter 11 filing is an effort by owner Gary Melius to save the famous site from foreclosure, Newsday reported. 5 The massive gardens and imposing facade have attracted guests, brides and location scouts for decades. Edmund J Coppa 5 A recent statement assured future guests that bookings and weddings are still on. Michael Sofronski The landmark property has just $57.27 in its checking account and zero cash on hand, according to court documents filed in the US Bankruptcy Court for the Eastern District of New York. Its ownership entity, Kahn Property Owner LLC, owes a reported $63.5 million to creditors. Owner Melius said in a court statement that he filed for bankruptcy in order to preserve the value of the estate, rather than see it sold at auction. Melius purchased the grand estate in 1984 and still lives there. He made headlines in 2014 when he survived a suspected assassination attempt outside of the castle. That case remains unsolved. Melius told Newsday that he's been in foreclosure for a decade, and was at risk of losing the property this week. He shared that he could no longer keep the banks and lenders 'at bay.' A joint statement released by Oheka Castle's communications director and a representative of its largest secured creditor, reported by Newsday, said that customers can expect all bookings, hotel accommodations and events to proceed without disruption. A Chapter 11 filing entails a process of financial reorganization, rather than total liquidation. 'The weddings are all still on,' Melius told the outlet. 5 Owner Gary Melius. New York Post 5 The Gold Coast property sits 36 miles from New York City. Edmund J Coppa 5 Oheka Castle has hosted multiple high-profile weddings, including the nuptials of one of the Jonas brothers. Edmund J Coppa The historic castle is not wanting for assets. Court filings revealed a total of $92.8 million in assets, including machinery, equipment and vehicles, in addition to the property itself. Its Versailles-like gardens and opulent facade also made it one of top wedding venues in Long Island, hosting weddings for the likes of Kevin Jonas and Anthony Weiner. Productions throughout the decades have also scouted the lavish hotel for popular movies and TV shows. It served as the set for Xanadu in Orson Welles' 'Citizen Kane,' HBO's 'Succession' and even a Taylor Swift music video for the song 'Blank Space.'
Yahoo
18-07-2025
- Business
- Yahoo
Why Ingersoll Rand (IR) Stock Is Falling Today
What Happened? Shares of industrial manufacturing company Ingersoll Rand (NYSE:IR) fell 3% in the morning session after the company's stock was downgraded by a Wall Street firm earlier in the week, and investors showed caution ahead of its upcoming quarterly earnings report. The industrial products company saw its shares downgraded to 'Hold' from 'Buy' by Melius Research on Monday. The firm, which set a $93 price target, pointed to narrowing growth opportunities and greater uncertainty in the company's earnings outlook. Melius also noted potential headwinds for the company in its healthcare and clean technology end markets. Adding to the cautious sentiment, investors looked ahead to the company's second-quarter financial results, scheduled for release at the end of July., Analysts' forecasts for the quarter indicated a potential contraction in adjusted earnings per share, which created further uncertainty for the stock. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Ingersoll Rand? Access our full analysis report here, it's free. What Is The Market Telling Us Ingersoll Rand's shares are not very volatile and have only had 7 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 5 months ago when the stock dropped 5.8% on the news that the company reported weak fourth-quarter results. Its organic revenue slightly missed and its revenue was in line with Wall Street's estimates. Looking ahead, guidance largely came in below expectations. Overall, this was a softer quarter. Ingersoll Rand is down 5.3% since the beginning of the year, and at $85.72 per share, it is trading 18.6% below its 52-week high of $105.35 from November 2024. Investors who bought $1,000 worth of Ingersoll Rand's shares 5 years ago would now be looking at an investment worth $2,739. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. 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
Yahoo
14-07-2025
- Business
- Yahoo
Why Wingstop (WING) Shares Are Falling Today
Shares of fast-food chain Wingstop (NASDAQ:WING) fell 3.6% in the afternoon session after an analyst at Melius initiated coverage on the stock with a "hold" rating and a $350 price target. While the price target suggests a slight upside from the previous close, the neutral "hold" rating seems to have tempered investor enthusiasm after a period of strong performance for the chicken wing chain. Melius noted that while Wingstop remains one of the restaurant industry's most consistent performers, the current stock price fairly reflects its growth prospects. The firm acknowledged Wingstop's "best-in-class unit economics, a streamlined menu, and a highly efficient supply chain" but concluded that the risk-to-reward profile appears balanced for now. This initiation comes amid a flurry of analyst activity, with Morgan Stanley recently raising its price target to $367 and maintaining an "overweight" rating, citing confidence in the company's market position. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Wingstop? Access our full analysis report here, it's free. Wingstop's shares are quite volatile and have had 17 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. Wingstop is up 8.4% since the beginning of the year, but at $316.73 per share, it is still trading 26% below its 52-week high of $427.92 from September 2024. Investors who bought $1,000 worth of Wingstop's shares 5 years ago would now be looking at an investment worth $2,426. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
