Latest news with #MSR
Fox Sports
4 days ago
- Automotive
- Fox Sports
MSR, Felix Rosenqvist Gaining Confidence, Climbing Into Series Elite
INDYCAR For Felix Rosenqvist and Meyer Shank Racing w/Curb-Agajanian, the 2025 NTT INDYCAR SERIES season has delivered something valuable: confidence. When confidence is backed by results, that is a powerful thing. With a determined second-place finish in the XPEL Grand Prix at Road America Presented by AMR on June 22, Rosenqvist delivered the fastest race lap and surged from sixth in points into fourth in the championship standings. Rosenqvist trails Chip Ganassi Racing driver and two-time defending series champion Alex Palou by 155 points with eight races remaining in the season. Fourth is the best position Rosenqvist has been this deep into an NTT INDYCAR SERIES season and a clear sign MSR is no longer building – it is competing. 'I feel like we've definitely taken it to the next step,' Rosenqvist said. 'We're sitting pretty good.' Entering the 2024 season, Rosenqvist's first with MSR after spending two years with Chip Ganassi Racing (2019-20) and three at Arrow McLaren (2021-23), few would have predicted this kind of rise. In 2023, MSR's No. 60 Honda finished a distant 25th in the entrant standings. Also, both had produced one career win, Rosenqvist in 2020 at Road America and MSR in the 2021 Indianapolis 500, where Helio Castroneves earned his record-tying fourth victory in the iconic race. But after their first season together in 2024, the No. 60 driven by Rosenqvist catapulted to 12th in points, a leap no other car matched. The positive results continued this season with six top-10 finishes in the first nine races. 'There's some really smart people on the team,' Rosenqvist said. 'I feel like it's a confidence thing, as well. Everyone's just more relaxed. The pit crew is happier. It's just a big confidence boost, and I think that's what's really been missing.' Rosenqvist's Road America podium two weeks ago also didn't come amid smooth sailing but after a turbulent stretch. A sign of improvement. Rosenqvist placed 21st in the Chevrolet Detroit Grand Prix presented by Lear on June 1, a race marred by a wild crash in the closing laps with rookie Louis Foster, which forced a complete rebuild of the car. Then, a 16th-place finish in the Bommarito Automotive Group 500 presented by Axalta and Valvoline at World Wide Technology Raceway followed on June 15, capping a brutal six weeks of racing that included the gauntlet of the Sonsio Grand Prix and 109th Running of the Indianapolis 500, in addition to the Barber Motorsports Park race weekend that opened May. 'Behind the scenes, we've had a lot of technical stuff going on,' he said. 'We had to split the car apart (after Detroit crash) and build it back together. This stretch had been wearing on the guys. It's hard. This is a really tough championship for everyone.' Last season, a similar midyear slump derailed what began as a promising campaign. After producing six top-10 finishes in the first seven events, Rosenqvist managed one more in the final 11 events. This time, when exhausted and battered, MSR didn't break. It rebounded. In a season dominated by powerhouse duos Chip Ganassi Racing and Andretti Global, which have won all nine races thus far, Meyer Shank Racing's climb into the top five of points is one of many compelling developments. MSR and Rosenqvist proved they can run and belong with the best the sport has to offer. The next step to gain is to become a winner, which Rosenqvist believes he and the team can deliver. 'We're always quick, so it's all about the details,' he said. Maybe that comes in Sunday's Honda Indy 200 at Mid-Ohio Presented by the All-New 2026 Passport (1 p.m. ET, FOX, FOX Sports app, INDYCAR Radio Network). The Mid-Ohio Sports Car Course is a track that carries personal and professional significance to Rosenqvist. Not only is Mid-Ohio the place where Rosenqvist earned his first podium in a photo finish with Scott Dixon as a rookie in 2019, it's also the home track for MSR, which is headquartered in nearby Pataskala, Ohio, approximately 75 miles from the track. 'I love Mid-Ohio,' Rosenqvist said. 'Honestly, Road America and Mid-Ohio are two of my favorites. Mid-Ohio, I had my first podium, and I had my first win at Road America (in 2020). 'I can't wait to go back to Mid-Ohio. I don't just say that because it's like a home race. I literally love that place. A lot of fans come there, the track layout, it's just a really cool race. True race car fans.'
Forbes
4 days ago
- Forbes
5 Lightweight Backpacking Items That Just Make Sense
Products like lightweight inflatable chairs can help to make your time at camp comfortable and fun. Crazy Creek There's a lot to consider when planning for an overnight trip in the outdoors. Beyond training for upcoming summer hikes, securing backcountry permits, locking in campsite reservations, and getting your food and water situation in order, you'll need to think about what outdoor gear you'll need to not only make your time in nature safe, but also, fun. Will you be carrying all of your gear on your back while you hike to your designated backcountry campsite? How much comfort do you need while sleeping on the ground? Do you consider a pillow a 'luxury item'? Do you enjoy sitting by a campfire, yet get cold easily? The following lightweight practical items will make your woodsy adventure more inviting and reposeful. From packable camp chairs to weatherproof tents with plenty of storage pockets to a sleeping bag that lets you poke your arms and legs out, here are camping and backpacking gear items that just make sense. When you're hiking in the backcountry, it's important to consider your pack weight when choosing your gear. The MSR Hubba Hubba LT Two-Person Backpacking Tent is not only lightweight at only three pounds and six ounces, but also, it features vestibules on each side for storing your gear. The hub and pole system and high quality hardware make set up speedy and easy so you can simply enjoy being at camp. You can expect to stay dry and comfy with a night inside this tent. When spending time at camp, it's nice to not have to sit on the ground or find a stump. Is a camp chair absolutely necessary? No. Is it worth carrying the weight? Many hikers think so. Crazy Creek has been making chairs for decades however there's a new style that is perfect for backpackers and campers who are concerned about weight, size, and durability. The inflatable AirCliner is incredibly lightweight at 29 ounces and compact, making it easy to take anywhere. Roll it up and pack it away in your backpack when you're ready to hit the trail. Are you someone who gets cold while sleeping, yet you still want to wander about camp with your hands and feet free? Sierra Designs recently updated their award-winning Mobile Mummy, a practical and comfortable wearable sleeping bag originally released in 2014. The new version is made with partially recycled materials, featuring a functional center zipper, armholes, and a foot-box that can be tucked away when wandering your campsite. Insulated, with 800 fill DriDown, surprisingly this bag is only 2 pounds and 6.5 ounces. You can roast marshmallows by the fire or set up your tent while wearing this bag. Genius. An Ultralight Sleeping System For backpackers who count every ounce and want the most lightweight sleep system available, look no further that the EXPED Ultra 1R Mummy, a durable mummy bag-shaped inflatable sleeping mat. Easy to set up and pack away, this mat is super light at 10.9 ounces. Combined with the Ultra Pillow, you'll have a restful night's sleep no matter where your adventures take you. A Durable Hiking Shoe Protect your hardworking feet with a hardwearing hiking shoe that packs a punch when it comes to comfort, without sacrificing traction or performance. The Scarpa Moraine has a waterproof lining and RECCO safety technology, a useful aid that helps to make the wearer searchable in emergency situations. These hiking shoes, which come in two different colors, are built to last and will be your summer go-to trail shoe for all of your upcoming adventures.
Daily Express
28-06-2025
- Business
- Daily Express
Borneo key in Indonesia's nuclear push
Published on: Saturday, June 28, 2025 Published on: Sat, Jun 28, 2025 Text Size: For illustrative purposes via Unsplash Indonesia has taken a major step toward building its first commercial nuclear power plant, with PT Thorcon Power Indonesia submitting licensing documents for a molten salt reactor (MSR) project on Kelasa Island, Central Bangka. Thorcon, a Singapore-based company, aims to deploy a 500 MW MSR prototype, eventually expanding to local manufacturing. The plant is based on U.S.-developed technology using thorium, a metal more abundant than uranium and with high energy potential. Indonesia sees nuclear as key to its net-zero goals, with the International Energy Agency estimating nuclear could contribute 5 percent to its 2050 emissions cuts, according to NucNet . Borneo figures prominently in this vision. A U.S.-backed small modular reactor (SMR) site has been identified in West Kalimantan, while Danish and Indonesian firms plan a Borneo-based SMR facility to produce low-emission ammonia. Russia has also expressed interest in collaborating on nuclear projects, including floating reactors suitable for the archipelagic nation. Indonesia expects nuclear energy to enter the national grid before 2040. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Yahoo
24-06-2025
- Business
- Yahoo
Will Annaly Benefit From Its Portfolio Diversification Efforts?
Annaly Capital Management's NLY main advantage is its well-diversified capital allocation approach. The company's investment portfolio includes residential credit, mortgage servicing rights (MSR) and agency mortgage-backed securities (MBS). This comprehensive strategy aims to lower volatility and sensitivity to interest rate changes while simultaneously generating appealing risk-adjusted returns. As of March 31, 2025, NLY's investment portfolio aggregated $84.9 billion. Annaly's diversified investment strategy will likely be a key contributor to long-term growth and stability. By diversifying its investments across the mortgage market, the company is better positioned to capitalize on opportunities as they occur in multiple areas while limiting the risks associated with overexposure to any particular location. In sync with this, in 2022, NLY sold its Middle Market Lending portfolio and exited its commercial real estate business. Through these, the company was able to enhance capabilities across its core housing finance strategy and allocate capital to residential credit businesses, the MSR platform and Agency MBS. Annaly is also focusing on improving its capabilities by acquiring newly originated MSRs from its partner network, which will continue to provide a strong advantage in expanding its MSR business. The inclusion of MSRs in the portfolio is also notable because these assets tend to increase in value as interest rates rise, offsetting reductions in the value of agency MBS. This hedging impact may produce more consistent returns over time and enable Annaly to perform well in a scenario of interest rate change. AGNC Investment Corp. AGNC has been taking a proactive and defensive approach to portfolio management, which can drive growth over the long term. By taking an active stance by frequently adjusting asset allocations and hedging strategies, AGNC Investment is positioning itself to reduce risks while capturing yield opportunities. AGNC Investment has strategically reduced exposure to more volatile non-agency MBS and shifted toward higher-coupon Agency MBS. This improves prepayment probability and supports better cash flow visibility. Meanwhile, Starwood Property Trust STWD operates in a different niche, focusing primarily on commercial real estate, including commercial mortgage-backed securities (CMBS) and real estate debt investments. As of the first quarter of 2025, Starwood held a diversified portfolio of $1.02 billion. While CMBS holdings slightly declined in the quarter, Starwood maintained steady income through principal repayments and targeted acquisitions. Starwood's in-depth expertise in navigating complex commercial markets positions it as a strong competitor in the real estate debt space. NLY shares have gained 9.2% in the past year compared with the industry's growth of 4.8%. Price Performance Image Source: Zacks Investment Research From a valuation standpoint, Annaly trades at a forward price-to-tangible book (P/TB) ratio of 0.98X, above the industry's average of 0.96X. Price-to-Tangible Book TTM Image Source: Zacks Investment Research The Zacks Consensus Estimate for NLY's 2025 and 2026 earnings implies a year-over-year rise of 6.3% and 1.4%, respectively. The estimates for 2025 and 2026 have been revised upward over the past 60 days. Estimates Revision Trend Image Source: Zacks Investment Research Annaly currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 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 AGNC Investment Corp. (AGNC) : Free Stock Analysis Report STARWOOD PROPERTY TRUST, INC. (STWD) : Free Stock Analysis Report Annaly Capital Management Inc (NLY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
24-06-2025
- Business
- Yahoo
PMT Q1 Deep Dive: Interest Rate Volatility Pressures Results, Securitization Focus Intensifies
Mortgage REIT PennyMac Mortgage Investment Trust (NYSE:PMT) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 40.1% year on year to $44.47 million. Its non-GAAP loss of $0.01 per share was significantly below analysts' consensus estimates. Is now the time to buy PMT? Find out in our full research report (it's free). Revenue: $44.47 million Adjusted EPS: -$0.01 vs analyst estimates of $0.39 (significant miss) Market Capitalization: $1.09 billion PennyMac Mortgage Investment Trust's first quarter was marked by significant challenges stemming from interest rate volatility and widening credit spreads, resulting in a non-GAAP net loss and revenue that fell short of Wall Street expectations. Management cited that fair value declines, particularly on mortgage servicing rights (MSRs), were a primary headwind, even as income from core operations remained stable. CEO David Spector noted, 'Strong levels of income, excluding market driven value changes, were offset by net fair value declines due to interest rate volatility and credit spread widening.' The team emphasized that risk management practices, including hedging and unique financing structures, helped limit further downside in a turbulent market. Looking ahead, management remains focused on leveraging its private-label securitization platform and expanding credit-sensitive investments as the mortgage market adapts to ongoing rate fluctuations. CEO David Spector highlighted anticipated growth opportunities from increased non-owner-occupied and jumbo loan volumes, stating, 'The increased volume of non-owner-occupied and jumbo loans underscores the potential for future investments.' While the yield curve's shape continues to influence returns, management expects stability in the dividend and sees disciplined capital allocation into higher-yielding strategies as key to navigating industry uncertainty. Management pointed to several factors shaping the quarter, with a pronounced focus on risk management, portfolio mix, and the dynamics of the mortgage origination landscape. Interest Rate Volatility Impact: The quarter's results were pressured by fair value declines on MSR assets, which management attributed to falling mortgage rates and revised prepayment assumptions. This was partially offset by gains in mortgage-backed securities (MBS), but the overall environment remained challenging for interest rate-sensitive strategies. Credit-Sensitive Strategy Growth: PMT increased its focus on credit-sensitive strategies, particularly through retaining subordinate bonds in private-label securitizations. Management emphasized that recent credit spread widening has raised potential returns on these investments, with expected yields in the mid-teens. Securitization Activity: The company completed three securitizations of investor loans totaling $1 billion in unpaid principal balance, retaining $94 million in new investments. Management plans to maintain a cadence of approximately one non-owner-occupied securitization per month and one jumbo loan securitization per quarter going forward. Stable Underlying Credit Quality: Despite market turbulence, management noted that delinquency rates on underlying mortgages remain low, supported by high borrower equity and strong consumer credit profiles. The seasoned nature of the portfolio, with many loans originated during low-rate periods, further underpins stability. Dividend Policy and Capital Structure: CFO Dan Perotti reaffirmed the company's commitment to dividend stability, explaining that the run rate decline reflects yield curve dynamics rather than credit deterioration. He also highlighted the advantages of PMT's non-mark-to-market financing, which shields the company from forced asset sales during periods of spread widening. Management's outlook emphasizes disciplined capital allocation into credit-sensitive strategies and a sustained focus on private-label securitization as drivers of returns amid ongoing market volatility. Shift Toward Credit Investments: The company intends to direct more capital toward credit-sensitive strategies, capitalizing on higher yields from subordinate bonds in private-label securitizations as credit spreads remain wide. Management believes this approach will enhance return potential in a market where traditional interest rate-sensitive investments face pressure. Origination and Securitization Pipeline: Anticipated growth in non-owner-occupied and jumbo loan volumes is expected to feed a robust pipeline for future securitizations. Management plans to maintain a steady pace of new securitizations, leveraging its origination platform for consistent investment opportunities. Dividend Stability and Yield Curve Dynamics: While run rate earnings have declined due to a flatter yield curve, management expects the dividend to remain stable. Any steepening of the yield curve or decline in short-term rates could improve returns on interest rate-sensitive assets, providing upside to earnings if market conditions shift. In the coming quarters, our analysts will monitor (1) the pace and profitability of new private-label securitizations, (2) the impact of yield curve movements on both credit and interest rate-sensitive strategies, and (3) trends in mortgage origination volumes, especially for non-owner-occupied and jumbo loans. Execution on capital allocation and dividend stability will remain key indicators of management's ability to deliver risk-adjusted returns. PennyMac Mortgage Investment Trust currently trades at $12.58, down from $13.14 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
