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CNBC
12 hours ago
- Business
- CNBC
Nasdaq-traded Chinese herb company hits near $30 billion market value after speculative surge
Regencell Bioscience Holdings, an early-stage, Hong Kong-based bioscience company with no revenue, is the latest speculative overseas stock to attract an unusual surge in trading demand. Shares of Regencell, which says it develops traditional Chinese herb treatments to treat childhood attention deficit hyperactivity disorder and autism, more than tripled on Monday — soaring more than 280% by the close. A 38-for-1 split declared on June 2 took effect on Monday. The company's year to date performance is off the charts too, having risen 46,000% in 2025. By Monday's close, Regencell, founded in 2014 and traded on Nasdaq under the ticker 'RGC' since 2021, had a total market capitalization of $29.7 billion, according to S&P Capital IQ. Regencell CEO Yat-Gai Au controls 86.24% of the total number of shares outstanding, according to FactSet data. Regencell is the latest example of a speculative international stock attracting attention during summer trading. In August, 2022, for example, AMTD Digital, a Hong Kong-based fintech company, climbed 126%, briefly giving it a market value greater than Coca-Cola and Bank of America. Regencell's market value is now about equal with Nasdaq-traded Lululemon and tops Super Micro Computer and Fifth Third Bancorp. Earlier this month, Regencell explained the stock split as designed solely "to enhance liquidity in the market for the company's ordinary shares and make the shares more accessible to investors." Stock splits do not change anything fundamentally about a company. Regencell's surge also came amid an increased focus on alternative medicines after Robert F. Kennedy Jr. was sworn in as Secretary of the U.S. Department of Health and Human Services in February. Kennedy, a vaccine skeptic, has taken steps to discourage routine immunizations in the U.S., last week removing all of the members of a panel that advises the Centers for Disease Control and Prevention on vaccines. Regencell's stock often makes huge one-day swings. For example, shares jumped roughly 30% on March 21, before dropping 30% the following trading day. In spite of the wild spike in the stock, little is known about the efficacy and commercialization of the Regencell's treatments for ADHD and Autistic Spectrum Disorders. Regencell's business centers on a proprietary Traditional Chinese Medicine formula (TCM) developed in a partnership with TCM practitioner Sik-Kee Au using his "Sik-Kee Au TCM Brain Theory." Sik-Kee Au is the father of the Regencell chief executive officer Yat-Gai Au, the company said in a 2022 statement. Three liquid-based, orally TCM formulae candidates claim to address mild, moderate and severe conditions and only contain natural ingredients such as so-called "detoxication herbs," blood circulation herbs and digestion herbs. "These TCM formulae form the basis of our TCM product candidates, which we intend to develop and commercialize for the treatment of ADHD and ASD," Regencell's website reads. In its latest annual report filed last October, Regencell said that it had not generated any revenue, nor filed for any regulatory approvals of its TCM formulas. For the fiscal years ended June 2024 and 2023, Regencell incurred total net losses of $4.36 million and $6.06 million, respectively, according to a 20F filing to the SEC. "We have not generated revenue from any TCM formulae candidates or applied for any regulatory approvals, nor have distribution capabilities or experience or any granted patents or pending patent applications and may never be profitable," read the filing. Regencell has not responded to a CNBC request for comment. Regencell's latest patient case study, dated Nov. 15, 2023, said 28 patients were given the treatment over a period of three months in a second efficacy trial and showed an improvement in symptoms of ADHD and ASD, according to the company's webpage. In an earlier case, Regencell said in a 2021 news release that it treated a dozen patients with suspected or confirmed Covid-19 cases, using a modified version of Au's modified proprietary cold and flu TCM formula. What was described as an improvement of Covid conditions led Regencell to form a joint venture with Honor Epic Enterprises Limited in Sept. 2021 to conduct further tests and commercialize the company's Covid treatment in ASEAN countries, according to the statement. The stock has attracted little chatter on social media over the past few years. Those comments that have been made suggest both retail trader enthusiasm — and skepticism. One user on the Reddit page "r/Shortsqueeze" wrote on Monday that Regencell is "trading like a meme coin. Bought a little to see what happens and it dropped 50% right after lol." Another user said in a post made three months ago, "I scalp RGC everyday for a bit of profit." The stock jumped 1,360% in May alone. On LinkedIn in May, one investor said he "can't stop laughing," after reading the company description. Another post from a user in the pharmaceutical industry, according to his profile, last week said Regencell has become the "stock to watch" after its spike in May on "no official news or catalysts." Another LinkedIn user last month commented on Regencell, saying, "China based, low volume and no official news, bizarro." On X, one user wrote in a Monday post said, "for #CompleteBullsh__CompanyOfTheYear I nominate regencell."
Yahoo
16-04-2025
- Business
- Yahoo
U.S. Bancorp earnings beat expectations, expenses decline
This news is developing. Please check back for updates. U.S. Bancorp's first-quarter revenues outpaced its expenses, marking another quarter in which the Minneapolis-based company reeled in higher profits while reducing its spending. For the quarter ended March 31, revenues totaled $7 billion, up 3.6% from the year-ago quarter as a result of higher net interest income and fee income, the company said Wednesday. At the same time, expenses totaled $4.2 billion, down 5.1% compared with the year-ago period. Earnings per share were $1.03. Analysts polled by S&P Capital IQ predicted 98 cents per share. U.S. Bancorp maintained its full-year 2025 outlook for net revenues, projecting an increase of 3% to 5%. For the second quarter, it's forecasting net interest income in the $4.1 billion to $4.2 billion range, fee income around $2.9 billion and noninterest expenses of $4.2 billion or lower. In September, U.S. Bancorp hosted its first investor day in five years, where it set two- to three-year goals for its turnaround. The company said it was targeting a return on assets of 1.15% to 1.35%, a return on tangible common equity in the high-teens and an efficiency ratio in the low-50s. For the first quarter, it reported a return on assets of 1.04% and a return on tangible common equity of 17.5% Its efficiency ratio came in at 60.8%. U.S. Bancorp's first-quarter results were released one day after Gunjan Kedia succeeded Andy Cecere as CEO of the Minneapolis-based company. Kedia, who's been Cecere's heir apparent since May when she was promoted to president, assumed the CEO seat following the company's annual shareholders meeting on Tuesday. She is the first woman to run the company and joins Citigroup's Jane Fraser as one of two women running the nation's 50 largest banks. Kedia was ranked No. 4 on American Banker's 2024 Most Powerful Women in Banking list. She will retain the president title, the company has said. Meanwhile, Cecere, who was chairman of the company's board of directors while CEO, is now shifting into the role of executive chairman. In an interview with American Banker in January, Kedia laid out her major priorities as CEO — accelerating growth at the $676.5 billion-asset company, transforming its payments business and increasing productivity. Much of the focus will be on deepening client relationships, she said. The results also follow the recent sudden death of Terry Dolan, U.S. Bancorp's vice chair and chief administration officer, who was killed in a plane crash in Minneapolis on March 29. Dolan owned the small plane that flew into a home in Brooklyn Park, a suburb 11 miles northwest of Minneapolis. He was the only passenger aboard when it went down. In a statement Wednesday, Kedia said: "As we collectively mourn the loss of our dear friend and colleague, Terry Dolan, the U.S. Bank family truly appreciates the outpouring of support and heartfelt condolences we've received from far and wide. Our prayers continue to be with his family and friends during this most difficult time."
Associated Press
05-03-2025
- Business
- Associated Press
The Evolution of Sustainability Strategies of Companies Operating in Emerging Markets
Introduction The last five years has seen a rapid evolution in sustainability strategies for infrastructure and energy companies. We recently conducted a study with the International Finance Corporation (IFC) of more than 100 companies that operate in emerging markets to identify trends in sustainability priorities, reporting practices and how strategies are anchored and financed at these companies. Methodology The study included 104 companies across six sectors: Energy, Technology, Media, and Telecom (TMT), Transport, Mining, Water & Waste, and 'Cross-Cutting' companies with operations across more than one sector. Data was gathered from publicly available documents, company websites, and databases like S&P Capital IQ and LSEG Data & Analytics. This information was analyzed using a sector performance model developed by KPMG which considered 51 KPIs across Strategy, Governance, KPI & Data Reporting, Environmental, Social, and Community Benefit-Sharing. Key findings 1. Companies are embracing sustainable finance 51% of the companies studied used sustainable finance. Among the financial instruments most used by the companies, green bonds (53%) lead, followed by sustainability-linked bonds (30%) and loans (25%). Moreover, 25% of the companies have sought support from DFIs and multilateral development banks such as IFC, EBRD and ADB. Among the six major sectors these companies are operating, Water & Waste (75%), and Energy (74%) sector companies are leading in terms of the use of sustainability-linked finance whereas Transport sector companies (16%) trail the companies in other sectors. 2. Increased disclosure on gender equality data Most companies have disclosed gender-related data, indicating a growing commitment to transparency and accountability. Standout sectors include mining and energy while sectors with opportunities to enhance disclosures include TMT, transport, water, and waste sectors. Despite increased disclosure and reporting, fewer companies publicly disclose targets for gender diversity. Further, there is opportunity to encourage a comprehensive approach to inclusion that goes beyond gender to include other key areas such as disability, underserved groups and communities depending on the operational and geographic contexts these companies are operating in. 3. Decarbonization targets and nature-based solutions We reviewed company-specific targets across Scopes 1, 2 and 3 as well as whether these were structured as carbon neutral or net-zero targets. The analysis showed that: Across all sectors, there is limited progress in Scope 3 reduction targets by the companies analyzed. 44% of companies do not disclose Scope 3 emissions. 4. Increasing focus on nature Companies are increasingly prioritizing biodiversity by integrating it into their operations through conservation, restoration, innovative solutions, and sustainable land management. As part of their resilience strategy, companies are prioritizing nature-based solutions and initiatives that help drive the global energy transition and combat climate change. However, the adoption rate of sustainable disclosure standards on this newer topic remains lower and slower than many others: Only 10 out of 104 companies analyzed are the adopters of Taskforce on Nature-related Financial Disclosures (TNFD). 5. Evolving efforts on community benefit-sharing Based on the analysis of twenty-five companies in energy and infrastructure sectors on their community-benefit sharing efforts, the majority (84%) have been disclosing education and skill-focused initiatives with measurable impact. Other areas include humanitarian support/environmental protection (48%), health-related projects (44%) community climate resilience initiatives (8%). Across sectors there is also priority placed on disclosing impacts in Latin America and Africa, with a focus on cultural heritage preservation, access to improved infrastructure and services, community-level education, and healthcare improvement, among others. The path forward: Overcoming challenges and accelerating impact
Axios
29-01-2025
- Automotive
- Axios
Tesla says it will begin robotaxi business and Optimus "pilot" production in 2025
Tesla plans to launch its robotaxi business and pilot production of its humanoid robot in 2025, the company said Wednesday. Why it matters: CEO Elon Musk has described self-driving car services as critical to the company's future. Driving the news: Musk said on an earnings call that the company is "confident" it will launch "unsupervised" full-self-driving cars "as a paid service" in Austin, Texas, in June. He predicted the company would also launch robotaxi services in California this year, plus other U.S. markets. Tesla's "supervised" FSD — a partially autonomous driving system requiring occasional driver intervention — "continues to rapidly improve with the aim of ultimately exceeding human levels of safety," the company said in its earnings report. Tesla said its Cybercab — a vehicle with no steering wheel built to serve as a robotaxi — will begin "volume production starting in 2026." Between the lines: Tesla also said Wednesday it remains committed to delivering "more affordable models," with production set to begin on these electric vehicles in the first half of 2025. "These vehicles will utilize aspects of the next generation platform as well as aspects of our current platforms and will be produced on the same manufacturing lines as our current vehicle line-up," the company said. By the numbers: In the fourth quarter, Tesla's revenue rose 2% compared with a year earlier to $25.7 billion, falling short of S&P Capital IQ's estimate of $27.1 billion. Its net income fell 71% to $2.3 billion, in line with S&P's estimate. Tesla shares jumped over 4% in after hours trading. Tesla analysts are more focused on the company's future ambitions — including the development of its Optimus humanoid — than its past financial performance, according to Evercore ISI analyst Chris McNally. Musk said the company will make at least several thousand Optimus robots in 2025, adding that their initial use will be for tasks inside Tesla factories. Eventually, "Optimus will be able to play the piano and thread a needle," he said. Editor's note: This article was updated with further information from Tesla's earnings call.
