January 2026 - Page 3 of 10

Worthington Steel to Acquire Kloeckner & Co in Transformative $2.4 Billion Deal

Posted on January 20, 2026January 20, 2026 by slightbourne@noblecapitalmarkets.com

Worthington Steel announced it has entered into a business combination agreement to acquire Germany-based Kloeckner & Co, a move that will significantly reshape the North American metals processing landscape. The all-cash transaction positions Worthington Steel as the second-largest steel service center company in North America by revenue and marks a major expansion of its global footprint.

The acquisition brings together two highly complementary metal processing businesses with a combined revenue base of approximately $9.5 billion. Kloeckner & Co operates roughly 110 service center and processing locations across North America and Europe and offers a broad range of products, including carbon flat-roll steel, electrical steel, aluminum, stainless steel, and long products. In recent years, Kloeckner has increasingly focused on higher value-added processing and fabrication, aligning closely with Worthington Steel’s strategic priorities.

Worthington Steel expects the transaction to generate approximately $150 million in annual run-rate synergies, primarily through cost efficiencies, operational improvements, and commercial optimization in North America. These synergies are anticipated to be fully realized by the end of the company’s fiscal year 2028. The deal is expected to be substantially accretive to earnings per share within the first full year of operation.

“This is a strategic and transformative step in Worthington Steel’s growth journey,” said President and CEO Geoff Gilmore. He emphasized that the combination will strengthen customer relationships, expand product offerings, and create new growth opportunities for employees, while reinforcing a shared commitment to safety, quality, and operational excellence.

The transaction values Kloeckner & Co at an enterprise value of approximately $2.4 billion, representing an EV/EBITDA multiple of about 8.5x based on trailing twelve-month results, and roughly 5.5x when factoring in expected synergies. Worthington Steel expects the combined company to maintain margins above 7% while tripling its scale in terms of sales.

The acquisition will be executed through a voluntary public tender offer in Germany, with Kloeckner shareholders receiving €11 in cash per share. The offer is supported by SWOCTEM GmbH, Kloeckner’s largest shareholder, which owns approximately 42% of outstanding shares and has committed to tender its stake. Kloeckner’s management and supervisory boards have expressed support for the transaction, and the current leadership team is expected to remain in place following completion.

Financing for the acquisition will come from a combination of cash on hand and new debt, with the offer fully underwritten and not subject to financing conditions. Worthington Steel expects pro forma net leverage to be around 4.0x at closing, with a stated goal of reducing leverage below 2.5x within 24 months through deleveraging and synergy realization.

Completion of the transaction is subject to regulatory approvals and a minimum acceptance threshold of 65% of Kloeckner’s shares, with closing expected in the second half of 2026. If completed, the deal will create a more diversified, resilient metals processing leader with expanded geographic reach across North America and Europe, positioning Worthington Steel for accelerated long-term growth.

Noble Capital Markets Emerging Growth Virtual Equity Conference – February 2026 – Presenting Companies

Posted on January 16, 2026January 22, 2026 by cpatches

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Trump Suggests Using Trade Penalties to Pressure Support for Greenland Plan

Posted on January 16, 2026January 16, 2026 by slightbourne@noblecapitalmarkets.com

President Donald Trump said Friday that he may impose new tariffs on foreign countries as part of an aggressive effort to pressure allies into supporting U.S. acquisition of Greenland, once again turning to trade penalties as a geopolitical bargaining tool.

Speaking at the White House during a health care–related event, Trump framed Greenland as a national security imperative and suggested tariffs could be used against countries that resist his ambitions. “We need Greenland for national security,” Trump said. “So I may do that. I may put a tariff on countries if they don’t go along with Greenland.”

The comments mark a significant escalation in Trump’s long-running interest in acquiring the Arctic territory, which is an autonomous region of Denmark. While the U.S. already maintains a military base on the island, Trump has increasingly argued that outright ownership is necessary to counter growing influence from China and Russia in the Arctic.

The White House did not immediately clarify which countries could be targeted by the proposed tariffs or what form they might take. However, Trump’s remarks signal that trade policy may once again be deployed as leverage in diplomatic disputes, even those involving close U.S. allies.

Trump’s tariff threat comes amid mounting legal uncertainty surrounding his broader trade agenda. The president has dramatically expanded the use of tariffs since returning to office, pushing the average U.S. tariff rate to an estimated 17%. Many of these levies were imposed under the International Emergency Economic Powers Act (IEEPA), a move that has been repeatedly challenged in court.

Multiple lower courts have ruled that Trump exceeded his authority under IEEPA, and the issue is now before the Supreme Court. A ruling from the high court could come soon and may determine whether the administration can continue imposing wide-ranging tariffs without congressional approval. Trump has warned that his economic agenda would be severely undermined if the court rules against him.

The Greenland comments also follow Trump’s recent use of tariff threats to pressure foreign governments on pharmaceutical pricing. The president has argued that U.S. drug prices should be aligned with lower prices paid overseas and said he warned foreign leaders to raise their prices or face steep tariffs on all exports to the United States.

“I’ve done it on drugs,” Trump said Friday. “I may do it for Greenland too.”

Despite Trump’s rhetoric, both Greenland and Denmark have repeatedly rejected the idea of a sale or transfer of sovereignty. Following meetings in Washington this week with Vice President JD Vance and Secretary of State Marco Rubio, a delegation from Greenland and Denmark said they maintain a “fundamental disagreement” with the president’s position.

Trump has also previously suggested that the U.S. is weighing multiple options to secure Greenland, including economic pressure and, in extreme rhetoric, military considerations. Those statements have alarmed European allies and raised concerns about the long-term implications for NATO unity.

As the Supreme Court weighs the legality of Trump’s tariff powers and global trade partners respond to mounting uncertainty, the president’s Greenland push underscores how central tariffs have become to his foreign policy strategy. Whether the tactic yields concessions—or further strains alliances—may soon be tested.

Ocugen (OCGN) – Preliminary Phase 2 Data From OCU410 Shows Improvements in dAMD Geographic Atrophy

Posted on January 16, 2026January 16, 2026 by slightbourne@noblecapitalmarkets.com

Friday, January 16, 2026

Ocugen, Inc. is a biotechnology company focused on developing and commercializing novel gene therapies, biologicals, and vaccines. The lead product in its gene therapy program, OCU400, is in Phase 1/2 clinical trials for retinitis pigmentosa.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Positive Preliminary Data From The OCU410 Trial. Ocugen announced first data from its Phase 2 ArMaDa trial testing OCU410 in Geographic Atrophy associated with dry Age-related Macular Degeneration (GA-dAMD). The announcement included the patients who have reached 12 months after treatment, with 23 out of the total 51 patients enrolled. The data shows an overall 46% reduction in lesion growth compared with controls. We see this as a highly meaningful difference.

OCU410 Is A Single-Treatment Gene Therapy. OCU410 is being developed as gene therapy for patients with GA secondary to dry AMD. A single OCU410 intravitreal injection delivers RORA (retinoid-related orphan receptor alpha), a nuclear receptor that regulates key pathways involved in retinal homeostasis with four mechanisms of action.

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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

CoreCivic, Inc. (CXW) – Some Model Refinements

Posted on January 16, 2026January 16, 2026 by slightbourne@noblecapitalmarkets.com

Friday, January 16, 2026

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Model Refinements. Pre fourth quarter earnings, we went over our model and made some modest adjustments, as well as incorporated 2026 quarterly estimates. With the strong new contract awards in 2025, increased detention populations, and potential for additional awards in 2026, we believe CoreCivic is well positioned to post strong 2026 full year results.

Populations Continue to Rise. Overall, the ICE detainee population continues to increase, hitting just under 69,000 at year-end. This is up from approximately 39,000 at the end of 2024. We expect to see ICE detainee populations continue to increase over the course of 2026 as ICE brings on additional enforcement personnel. Increased populations bode well for CoreCivic.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Alliance Entertainment Holding (AENT) – Acquires Formidable Technology Company

Posted on January 16, 2026January 16, 2026 by slightbourne@noblecapitalmarkets.com

Friday, January 16, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Dynamic acquisition. On December 31, 2025, the company acquired Endstate, a technology company focused on NFC-enabled authentication, digital product identity, and authenticated resale infrastructure for physical goods. Following the acquisition, the company formed a new wholly owned subsidiary, Endstate Authentic LLC. Details of the acquisition were not disclosed.

Vinyl is just the start. Notably, the Endstate technology is currently used by Alliance Authentic for the sale of limited-edition, numbered, blockchain-authenticated vinyl records and a commission-based secondary marketplace that is expected to generate high-margin recurring revenue. Importantly, while the company currently only offers vinyl on this platform, we believe there is a significant opportunity for product category growth, given the company’s large selection of physical media and collectables.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Ocugen Announces Positive Preliminary Phase 2 Data from OCU410 Modifier Gene Therapy for Geographic Atrophy Secondary to Dry Age-Related Macular Degeneration

Posted on January 15, 2026January 15, 2026 by aweinsoff@channelchek.com

Research News and Market Data on OCGN

January 15, 2026

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Phase 2 (~50% of patients evaluated to date at 12 months) shows 46% lesion growth reduction vs. control
There are no OCU410-related serious adverse events reported across the Phase 1 and Phase 2 clinical trials to date

MALVERN, Pa., Jan. 15, 2026 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced positive preliminary 12-month data (~50% of patients evaluated to date) from the Phase 2 ArMaDa clinical trial evaluating OCU410 (AAV5-RORA), its novel modifier gene therapy for geographic atrophy (GA) secondary to dry age-related macular degeneration (dAMD). The global prevalence of dAMD is 266 million worldwide, and GA – the late stage of dAMD – affects approximately 2-3 million people in the United States (U.S.) and Europe.

There are limited options for patients with dAMD in the U.S. and current therapies involve frequent (monthly or every other month) injections and have unwanted side effects that can affect vision. Outside of the U.S., there are no approved products available, leaving approximately 2 million patients in Europe without a treatment option.

Key findings from Phase 2 include:

46% lesion growth reduction (medium + high dose vs. control; p=0.015; N=23) at 12 months
Medium dose achieved 54% lesion reduction (p=0.02; N=10) vs. high dose 36% (p=0.05; N=8) compared to control
50% responder rate with patients achieving >50% lesion size reduction vs. control
Subgroup (N=14, subjects with ≥7.5 mm²at baseline) showed 57% greater reduction in lesion size compared to control

New findings from Phase 1 (N=9) include:

In evaluable subjects (N=7) ellipsoid zone (EZ) loss was 60% slower in OCU410-treated eyes compared to untreated fellow eyes at 12 months
EZ-RPE complex loss reduced in treated eyes versus fellow eyes, demonstrating photoreceptor + RPE preservation

In both the Phase 1 and Phase 2 clinical trials no OCU410-related serious adverse events were observed and no cases of endophthalmitis, retinal detachment, vasculitis, choroidal neovascularization, or optic ischemic neuropathy have been reported to date.

GA is a multifactorial disease with a complex etiology that involves genetic and environmental factors. The current treatment options for GA in the U.S. are limited to those targeting a single mechanism—the complement pathway—requiring frequent intravitreal injections, either monthly or every other month. By contrast, OCU410 is a multifunctional modifier gene therapy, which targets multiple pathways associated with GA.

“The OCU410 Phase 1 and Phase 2 results mark a pivotal moment for Ocugen’s modifier gene therapy platform and GA patients worldwide,” said Dr. Shankar Musunuri, Chairman, CEO, and Co-founder of Ocugen. “Delivering 60% slower EZ loss in Phase 1 and 46% lesion growth reduction in the Phase 2 preliminary analysis demonstrates the capability of our multi-pathway RORA approach. We look forward to reporting full data from the OCU410 Phase 2 clinical trial later this quarter and initiating Phase 3 in 2026.”

“The clinical development journey of OCU410 has been remarkable,” said Dr. Huma Qamar, Chief Medical Officer of Ocugen. “Our Phase 2 randomized trial delivered robust anatomic efficacy that was statistically significant across multiple analyses. Critically, our safety data across 60 patients has shown no drug-related serious adverse events, no inflammation signals, and no injection complications to date, supporting a favorable risk-benefit profile.”

“As a practicing retinal specialist, OCU410’s clinical profile is genuinely exciting for geographic atrophy patients—including a reduction in ellipsoid zone loss observed in Phase 1, which may serve as a potential marker of retinal health, and a reduction in lesion growth seen in Phase 2,” said Lejla Vajzovic, MD, FASRS, Director, Duke Surgical Vitreoretinal Fellowship Program, Professor of Ophthalmology with Tenure, Adult and Pediatric Vitreoretinal Surgery and Disease, Duke University Eye Center, and Retina Scientific Advisory Board Chair of Ocugen. “With these promising results, I believe OCU410 has the potential to set a new standard of care with a single treatment for life.”

In the Phase 2 study, the safety and efficacy of OCU410 in patients with GA secondary to dAMD are being assessed. Fifty-one (51) patients were randomized 1:1:1 into either of two treatment groups (medium or high dose) or a control group. In the treatment groups, subjects received a single subretinal 200-µL administration of 5 x 10¹⁰ vector genomes (vg)/mL (medium dose) or 1.5 x 10¹¹ vg/mL (high dose), while the control group remained untreated. The Company remains on track for a Biologics License Application (BLA) filing for OCU410 in 2028, aligned with its strategy to advance three regulatory submissions for marketing authorization in three years.

About dAMD and Geographic Atrophy
Geographic atrophy is an advanced form of dAMD characterized by progressive degeneration of the macula, leading to irreversible central vision loss. Millions of patients worldwide are affected by GA, with a particularly high burden in aging populations in the United States and Europe. Despite recent approvals, treatment options remain limited and require chronic intravitreal injections, underscoring the need for innovative, durable therapies that address multiple disease mechanisms. dAMD affects approximately 10 million Americans and more than 266 million people worldwide. It is characterized by the thinning of the macula, the portion of the retina responsible for clear vision in one’s direct line of sight. dAMD involves the slow deterioration of the retina with submacular drusen (small white or yellow dots on the retina), atrophy, loss of macular function, and central vision impairment. dAMD accounts for 85-90% of all AMD cases.

About OCU410
OCU410 is an investigational, intravitreally administered, AAV5-based gene therapy that delivers RORA (retinoid-related orphan receptor alpha), a nuclear receptor that regulates key pathways involved in retinal homeostasis, including oxidative stress response, complement regulation, inflammation, and lipid metabolism. OCU410 is being developed as a one-time gene therapy for patients with GA secondary to dry AMD. OCU410 has received Advanced Therapy Medicinal Product (ATMP) classification from the European Medicines Agency.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene therapies to address major blindness diseases and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to address significant unmet medical need for large patient populations through our gene-agnostic approach. Discover more at www.ocugen.com and follow us on X and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; the ability of OCU410 to perform in humans in a manner consistent with nonclinical, preclinical or previous clinical study data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing of may not be predictive of the results or success of later clinical trials; and that that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contact:
Tiffany Hamilton
AVP, Head of Communications
Tiffany.Hamilton@ocugen.com

Release – Snail Inc. Drives Double-Digit Sales Multiples During Steam Winter Sale

Posted on January 15, 2026January 15, 2026 by aweinsoff@channelchek.com

Research News and Market Data on SNAL

January 15, 2026 at 8:00 AM EST

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ARK: Survival Ascended and Bellwright Deliver 10.9x and 16.7x Increases, Respectively, in Daily Units Sold Through Strategic Content Timing

CULVER CITY, Calif., Jan. 15, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today recapped a strong performance during the Steam Winter Sale (“Winter Sale”), which ran from December 18 through January 5. The results underscore the Company’s ongoing strategy of pairing major seasonal promotions with timely content launches to drive discovery, engagement, and long-term portfolio growth.

The Winter Sale was anchored by the December 18 launch of ARK: Lost Colony, the newest DLC for the ARK franchise. During the promotional period, ARK: Survival Ascended recorded a 10.9x increase in average daily units sold compared to the previous 30 day non sale period. Concurrently, Bellwright‘s Maiden Voyage update released just before the sale, introducing new players to the survival sandbox during a period of high visibility. Bellwright achieved a 16.7x increase in average daily units sold, during the Steam Winter Sale when compared to its prior 30-day non-sale period. These results reflect the effectiveness of Snail Games’ strategy to align major seasonal promotions with timely content releases across its portfolio.

By aligning new content drops with high-traffic seasonal sales, Snail Games continues to aim to lower barriers of entry for new players while re-engaging existing audiences to its broader catalog. This approach not only amplifies short term performance but also creates awareness for future titles still in active development.

We believe that these periodical sales, when paired with meaningful content updates, are a key component of how Snail Games aims to expand the reach of its portfolio and introduce players to emerging projects. The Winter Sale results demonstrate how strategic timing can potentially translate into measurable growth while strengthening the foundation for future engagement.

As seasonal promotions continue to serve as powerful discovery engines for new and existing players, Snail Games remains focused on strategically utilizing these key moments to maximize both product visibility and overall performance across all major distribution platforms. The consistent success of these large-scale sales events underscores their importance in driving significant spikes in user acquisition and revenue. Furthermore, these promotions provide invaluable data insights into player behavior and market trends, which are then integrated into long-term sales and marketing strategies to sustain growth beyond the promotional window.

About Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in Snail Games’ public filings with the SEC and include, but are not limited to, statements regarding its ability to align new content drops with high-traffic seasonal sales, pursuant to which Snail Games continues to aim to lower barriers of entry for new players while re-engaging existing audiences to its broader catalog. This approach not only amplifies short term performance but also creates awareness for future titles still in active development. Snail Games believes that these periodical sales, when paired with meaningful content updates, are a key component of how Snail Games aims to expand the reach of its portfolio and introduce players to emerging projects. Ultimately the Winter Sale results demonstrate how strategic timing can potentially translate into measurable growth while strengthening the foundation for future engagement. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
SNAL@gateway-grp.com

Release – SelectQuote Announces New Multiyear Agreement with SelectRx PBM Partner

Posted on January 15, 2026January 15, 2026 by aweinsoff@channelchek.com

Research News and Market Data on SLQT

01/15/2026

New Contract Provides Enhanced Reimbursement Rate Predictability and Stability

OVERLAND PARK, Kan.–(BUSINESS WIRE)– SelectQuote, Inc. (NYSE: SLQT) (the “Company”), a leading distributor of Medicare insurance policies and owner of a rapidly-growing healthcare services platform, today announced that its SelectRx pharmacy recently reached a new, multiyear agreement with a significant, long-time PBM (pharmacy benefit manager) partner.

The new strategic agreement bolsters financial consistency and stability across both organizations. This agreement, which took effect on January 1, 2026, offers more predictable economics, aligning with the expectations outlined in SelectQuote’s first quarter fiscal 2026 earnings call.

Tim Danker, SelectQuote’s CEO, commented, “Our new contract with this critical PBM partner provides increased visibility to reimbursement rates, allowing us to continue to invest and grow our differentiated SelectRx pharmacy. This new agreement recognizes the clinical value we deliver to our SelectRx patients every day, helping them to achieve increased active medication adherence and improved health and wellness. This agreement, coupled with our recently announced capital structure refinancing with Pathlight and UMB, allows our management team to devote even more focus to operating the business and executing our plan to drive meaningful cash flow for shareholders.”

SelectRx serves Medicare beneficiaries across all 50 states from three pharmacy facilities located in Pennsylvania, Indiana, and Kansas. SelectRx currently serves more than 100,000 members with multiple chronic conditions, leveraging its high-touch model to achieve measurably improved medication adherence rates.

Forward Looking Statements

This release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost-effective advertisement through internet search engines; ability to contact consumers and market products by telephone; global economic conditions, including inflation; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; potential litigation and other legal proceedings or inquiries; our existing and future indebtedness; our ability to maintain compliance with our debt covenants; access to additional capital; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers’ approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; failure to market and sell Medicare plans effectively or in compliance with laws; and other factors related to our pharmacy business, including manufacturing or supply chain disruptions, access to and demand for prescription drugs, changes in reimbursement rates under our contracts with pharmacy benefit managers, and regulatory changes or other industry developments that may affect our pharmacy operations. For a further discussion of these and other risk factors that could impact our future results and performance, see the section entitled “Risk Factors” in the most recent Annual Report on Form 10-K (the “Annual Report”) and subsequent periodic reports filed by us with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

About SelectQuote:

Founded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies, allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote’s success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads. Today, the Company operates an ecosystem offering high touchpoints for consumers across insurance, pharmacy, and virtual care.

With an ecosystem offering engagement points for consumers across insurance, Medicare, pharmacy, and value-based care, the company now has three core business lines: SelectQuote Senior, SelectQuote Healthcare Services, and SelectQuote Life. SelectQuote Senior serves the needs of a demographic that sees around 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. SelectQuote Healthcare Services is comprised of the SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited pharmacy, SelectPatient Management, a provider of chronic care management services, and Healthcare Select, which proactively connects consumers with a wide breadth of healthcare services supporting their needs.

Investor Relations:
Sloan Bohlen
877-678-4083
investorrelations@selectquote.com

Media:
Matt Gunter
913-286-4931
matt.gunter@selectquote.com

Source: SelectQuote, Inc.

Release – Comstock Metals Expands Recycling Network – Launches End-of-Life Solar Facility in Ohio

Posted on January 15, 2026January 15, 2026 by aweinsoff@channelchek.com

Research News and Market Data on LODE

VIRGINIA CITY, NEVADA, January 15, 2026 — Comstock Inc. (NYSE: LODE) (“Comstock” or the “Company”) and its subsidiary, Comstock Metals LLC (“Comstock Metals”), a leader in the responsible recycling of end-of-life solar panels and the only certified, zero-landfill solar recycling solution in North America, today announced that it has secured an additional site for storage that is expandable into an industry-scale recycling and processing facility.

This Ohio location strengthens Comstock Metals’ growing national recycling network and is strategically positioned to serve customers throughout Ohio and the broader Midwest—one of the larger and centrally located solar markets in the country. The site will function as a centralized hub for the collection, preparation, storage, and aggregation of decommissioned photovoltaic (PV) solar panels that will ultimately expand into processing as the market grows.

As solar deployment continues to expand across Ohio and neighboring states, the demand for compliant, environmentally responsible end-of-life solutions is accelerating. The central Ohio facility is designed to directly support solar manufacturers, developers, utilities, engineering and construction firms (EPCs), installers, decommissioners and asset owners by providing a local, reliable solution for managing retired solar panels, where valuable materials, including aluminum, silver, copper, gallium, and other metals are recovered and repurposed.

“Establishing a facility in central Ohio allows us to directly support the Midwest region’s growing end-of-life panel disposal needs while providing a logistically-efficient solution that keeps costs low for our customers,” said Dr. Fortunato Villamagna, President of Comstock Metals. “Our mission is to close the loop on solar energy by ensuring panels at the end of their useful life are managed responsibly and their critical materials are fully repurposed.”

By enabling timely, efficient, and compliant decommissioning, transport, and recycling, Comstock’s zero-landfill solution reduces landfill waste, conserves natural resources and supports the industry’s long-term sustainability. The Company is also finalizing the permit application and subsequent submission plans for its second, integrated, industry-scale Nevada location, with final selection of a location to take place later this year.

“As the volume of end-of-life solar panels expands across the country and grows into the tens and hundreds of millions, our ability to scale responsibly and efficiently across the country, delivers real sustainability—and peace of mind—to our customers and partners,” said Corrado De Gasperis, Executive Chairman and CEO of Comstock. “Our team is setting the standard for solar panel recycling across an expanding, fully integrated national network.”

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
ir@comstockinc.com

For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
media@comstockinc.com

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; divestitures, spin-offs or similar distribution transactions, future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, divestitures, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Mortgage Rates Drop to Three-Year Low Following Trump’s $200 Billion Bond Purchase Plan

Posted on January 15, 2026January 15, 2026 by slightbourne@noblecapitalmarkets.com

In a dramatic market shift that caught many economists off guard, mortgage rates have tumbled to their lowest point since September 2022, following President Trump’s bold announcement that government-sponsored enterprises Fannie Mae and Freddie Mac would purchase $200 billion in mortgage bonds.

The average 30-year fixed mortgage rate dropped to 6.06% this week, down from 6.16% the previous week, according to Freddie Mac data. The 15-year rate similarly declined to 5.38% from 5.46%, marking a significant milestone for prospective homebuyers and homeowners considering refinancing.

The president’s January 8th social media post declaring he was “instructing my Representatives to BUY $200 BILLION DOLLARS IN MORTGAGE BONDS” sent immediate ripples through financial markets. The announcement specifically targeted mortgage-backed securities, driving up demand for these bonds and subsequently pushing their yields downward—a direct pathway to lower consumer mortgage rates.

Market response was swift and substantial. The Mortgage Bankers Association reported a 16% surge in home purchase applications and a remarkable 40% jump in refinancing applications through the following Friday. These numbers suggest Americans are eager to capitalize on improved borrowing conditions after years of elevated rates that have kept many potential buyers sidelined.

“With mortgage rates much lower than a year ago and edging closer to 6 percent, MBA expects strong interest from homeowners seeking a refinance and would-be buyers stepping off the sidelines,” said Bob Broeksmit, president and CEO of the Mortgage Bankers Association.

However, industry experts are tempering expectations about a rapid housing market recovery. While lower rates provide relief, significant affordability challenges persist. Home prices remain elevated in many markets, and a substantial number of existing homeowners hold mortgages with rates far below current levels—creating what economists call the “lock-in effect” that discourages moving.

Hannah Jones, senior economic research analyst at Realtor.com, projects mortgage rates will hover in the low-6% range throughout 2026, potentially supporting “modestly improving home sales.” Yet she emphasizes that any recovery will likely be “gradual rather than rapid” given persistent affordability constraints.

The policy move represents an unconventional approach to economic stimulus, directly targeting housing market conditions through government-sponsored enterprise balance sheets. While the immediate effect on rates has been clear, longer-term implications for the housing market, federal housing finance policy, and the broader economy remain subjects of intense debate among economists and policy analysts.

For now, Americans looking to enter the housing market or refinance existing mortgages have a window of opportunity that hasn’t existed since rates began their historic climb in late 2022.

Nicola Mining Inc. (HUSIF) – Preparing for Growth: Expanding Milling Capacity

Posted on January 15, 2026January 15, 2026 by slightbourne@noblecapitalmarkets.com

Thursday, January 15, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Upsized Private Placement Financing. Due to strong support from shareholders and new institutional investors, Nicola Mining upsized its previously announced non-brokered private placement from C$1.0 million to C$3.0 million with the issuance of up to a total of ~3.3 million units at a price of C$0.90 per unit, including ~1.1 million issued during the first closing on the same terms. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of C$1.10 per share for a period of three years following the closing of the offering. The expiry of the warrants may be accelerated subject to certain conditions.

Use of Proceeds. Nicola’s Merritt Mill is the sole facility in British Columbia permitted to receive and process third-party gold and silver feed from across the province. Funds generated from the financing will be used for the purchase and installation of milling equipment to expand Merritt Mill processing capacity from ~200 tonnes per day to ~500 tonnes per day, the addition of a secondary ball mill, supplementary cleaner flotation cells, and associated pumping infrastructure. Spare bowl and mantle assemblies may be procured to support routine crusher maintenance and ensure operational reliability.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Taiwan’s $500 Billion Chip Deal: A Game-Changer for Small and Mid-Cap Suppliers

Posted on January 15, 2026January 15, 2026 by slightbourne@noblecapitalmarkets.com

The semiconductor industry just witnessed what could be its most significant announcement in decades. Commerce Secretary Howard Lutnick revealed Thursday that Taiwan has committed to a staggering $500 billion investment in U.S. semiconductor manufacturing—$250 billion from Taiwanese companies and another $250 billion from the island’s government. For investors focused on small and mid-cap stocks, this massive capital deployment represents a potential goldmine of opportunities that extends far beyond the headline-grabbing chip manufacturers.

While giants like TSMC will dominate news coverage, the real story for small-cap investors lies in the extensive supply chain required to build and operate semiconductor fabrication facilities. Each new fab requires specialized equipment manufacturers, chemical suppliers, industrial gas producers, precision tooling companies, and advanced materials providers—many of which operate in the small to mid-cap range. Companies producing ultra-pure chemicals, photoresist materials, silicon wafers, and specialty gases could see order books expand dramatically. The construction phase alone will create demand for specialized contractors, clean room equipment manufacturers, and industrial automation providers that may currently fly under Wall Street’s radar.

The scale of this investment means new facilities will require substantial infrastructure development. Regional utilities, water treatment specialists, and industrial real estate developers in semiconductor-friendly states like Arizona, Texas, and Ohio stand to benefit significantly. Small-cap engineering firms with expertise in fab construction and environmental systems could see their prospects transform overnight. The ongoing operational needs of these facilities create sustained demand for maintenance services, logistics providers, and specialized workforce training companies—sectors where nimble mid-market players often excel.

Semiconductor manufacturing requires thousands of specialized components and systems. While industry leaders like Applied Materials and Lam Research will capture major contracts, numerous smaller suppliers provide niche equipment for testing, metrology, wafer handling, and process control. These companies often trade at more attractive valuations than their large-cap counterparts while offering leveraged exposure to industry growth. The hiring demands from a $500 billion investment will be extraordinary as well. Technical staffing agencies, specialized recruiters, and workforce development companies could experience substantial growth. Communities hosting these facilities will need expanded housing, services, and infrastructure—benefiting regional banks, homebuilders, and service providers in those markets.

Savvy small-cap investors should begin identifying companies with existing relationships in the semiconductor supply chain, particularly those with capacity to scale rapidly. Look for firms with proprietary technologies, high switching costs, and strong balance sheets capable of supporting growth. However, investors should remain mindful of execution risks. Not all suppliers will secure contracts, and the timeline for this investment will likely span years rather than quarters. Patience and selectivity will be essential.

Taiwan’s historic commitment to U.S. semiconductor manufacturing represents more than geopolitical realignment—it’s a catalyst that could reshape the small and mid-cap investment landscape for the next decade. While mega-cap chip stocks may grab headlines, the most compelling risk-reward opportunities often emerge further down the supply chain, where smaller companies can leverage this unprecedented capital influx into outsized growth. For investors willing to dig deeper, the $500 billion question isn’t just about chips—it’s about identifying tomorrow’s winners today.