Author: slightbourne@noblecapitalmarkets.com

April Jobs Report Shows Labor Market Holds Strong Despite Tariff Turbulence

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– The U.S. added 177,000 jobs in April, beating expectations and holding the unemployment rate steady at 4.2%.
– Wage growth slowed slightly, easing pressure on the Federal Reserve amid ongoing inflation concerns.
– Tariff impacts on jobs may not be fully visible yet, but early signs suggest employers are holding steady.

The U.S. labor market showed surprising resilience in April, even in the wake of President Trump’s sweeping “Liberation Day” tariffs that unsettled financial markets and raised fears of economic slowdown. According to the Bureau of Labor Statistics, the U.S. economy added 177,000 nonfarm payroll jobs last month, beating economists’ expectations of 138,000. The unemployment rate remained unchanged at 4.2%, maintaining stability in the face of mounting trade and inflation concerns.

Wage growth was slightly softer than anticipated, with average hourly earnings rising 0.2% over the prior month and 3.8% year-over-year. While these figures were modestly below forecasts, they suggest continued income gains without reigniting inflationary pressure — a welcome balance for policymakers and investors alike.

Markets responded positively to the data. Major indexes rose in early Friday trading, as investors interpreted the report as a sign that the economy may weather the storm from Trump’s tariff strategy better than initially feared. The CME FedWatch Tool showed reduced expectations for an immediate rate cut, easing pressure on the Federal Reserve to act in response to short-term volatility.

Sector-Level Trends Highlight Economic Rebalancing

A closer look at industry-level data reveals both strength and shifting dynamics within the labor market. Healthcare once again proved to be a cornerstone of job creation, adding 51,000 positions in April. The transportation and warehousing sector also saw a notable rebound, gaining 29,000 jobs after a sluggish March, possibly linked to pre-tariff import activity that boosted freight demand.

The leisure and hospitality sector, which has seen uneven recovery since the pandemic, added 24,000 jobs, signaling that consumer demand for services remains strong. However, federal government employment fell by 9,000 amid ongoing changes tied to the Trump administration’s Department of Government Efficiency (DOGE) initiative. Overall government hiring, including state and local positions, rose by 10,000.

Revisions to March’s job gains showed a slight decline, with the updated total now at 185,000, down from the previously reported 228,000. Still, the broader trend remains steady: the U.S. has averaged 152,000 job additions per month over the past year — enough to sustain growth without overheating the economy.

Timing Matters in Evaluating Tariff Impact

While Friday’s data offered a reassuring picture, economists caution that it may not fully capture the impact of the April 2 tariff announcement. Because payroll data is based on employment status during the pay period including the 12th of the month, many businesses may not have had time to implement layoffs or hiring freezes in response to the policy shift.

Still, early indicators suggest employers have not moved swiftly to cut staff. Initial jobless claims, while ticking up slightly in late April, remain relatively low. Private sector hiring data from ADP showed only 62,000 new jobs in April, the lowest since last July, suggesting a possible lag in response from employers.

Outlook for Small and Micro-Cap Investors

For investors focused on small and micro-cap stocks, April’s labor report offers a cautiously optimistic signal. Employment strength — especially in transportation, healthcare, and services — supports consumer demand and business stability. However, uncertainty tied to trade policy and inflation remains a risk factor. As the second quarter unfolds, close attention to hiring trends, inflation data, and Fed decisions will be critical for navigating market volatility and spotting growth opportunities.

Ocugen to Host Conference Call on Friday, May 9 at 8:30 A.M. ET to Discuss Business Updates and First Quarter 2025 Financial Results

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on Ocugen

MALVERN, Pa., May 02, 2025 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology leader in gene therapies for blindness diseases, today announced that it will host a conference call and live webcast to discuss the Company’s first quarter 2025 financial results and provide a business update at 8:30 a.m. ET on Friday, May 9, 2025.

Ocugen will issue a pre-market earnings announcement on the same day. Attendees are invited to participate on the call using the following details:

Dial-in Numbers: (800) 715-9871 for U.S. callers and (646) 307-1963 for international callers
Conference ID: 1773288
Webcast: Available on the events section of the Ocugen investor site

A replay of the call and archived webcast will be available for approximately 45 days following the event on the Ocugen investor site.

About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology leader in gene therapies for blindness diseases. Our breakthrough modifier gene therapy platform has the potential to address significant unmet medical need for large patient populations through our gene-agnostic approach. Unlike traditional gene therapies and gene editing, Ocugen’s modifier gene therapies address the entire disease—complex diseases that are potentially caused by imbalances in multiple gene networks. Currently we have programs in development for inherited retinal diseases and blindness diseases affecting millions across the globe, including retinitis pigmentosa, Stargardt disease, and geographic atrophy—late stage dry age-related macular degeneration. 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, 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. 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

The Great Rotation: Why Small Caps May Outshine Tech Giants in an Era of Debt Anxiety

Posted on by slightbourne@noblecapitalmarkets.com

As the Trump administration’s second term progresses, we’re witnessing a potential regime change in market dynamics. After years dominated by tech giants and trade war concerns, America’s mounting debt burden is now taking center stage.

From Tariff Wars to Debt Anxiety

Market sentiment is pivoting from U.S.-China trade tensions toward debt sustainability. With CBO projections showing U.S. debt potentially exceeding 120% of GDP by the mid-2030s and persistent budget deficits around 6% of GDP, investor psychology appears primed for a significant shift.

This isn’t merely academic—it has real implications for capital flows. As global reserve managers begin questioning the “risk-free” status of U.S. Treasuries, we could see demands for higher real yields or diversification into alternative sovereigns, keeping the long end of the U.S. yield curve stubbornly high.

The Magnificent Seven Losing Momentum

The market’s recent run has been fueled by a handful of technology giants. However, structural factors suggest these mega-cap stars may be losing steam, creating opportunities in the previously overlooked small-cap sector.

The mathematics of valuation makes this shift compelling: Big Tech stocks trade on multi-decade cash flow projections. When the term premium rises 100 basis points, these long-duration assets can see their DCF values erode by 10-15%. By contrast, small-cap earnings are front-loaded, making their valuations less sensitive to rate shocks.

Refinancing Reality

Companies that previously benefited from ultra-low borrowing costs now face a sobering reality. Many companies that recently refinanced debt must contend with significantly higher servicing costs.

This challenge extends to the federal level. U.S. government debt that once carried interest rates near zero is now being rolled over at 4-4.5%—representing a 50-60% increase in servicing costs and potentially accelerating debt anxiety.

The Small-Cap Advantage

Four structural factors suggest quality small-cap stocks could outperform:

  • Valuation Metrics: The Russell 2000 (ex-negative earners) has a forward P/E of approximately 14x versus the S&P 500’s 20x—a discount in the 15th percentile of the past 25 years.
  • Tax Policy: Large multinationals have historically benefited from profit-shifting strategies. As corporate tax policies adjust, domestic small firms—already paying close to statutory rates—may feel less relative impact.
  • Capital Allocation: Higher yields raise the hurdle for debt-funded buybacks that have powered S&P 500 EPS growth. Small caps, which tend to focus more on reinvestment, may gain a relative advantage.
  • Dollar Dynamics: The Russell 2000 derives approximately 80% of its revenue domestically. If debt concerns lead to dollar weakness, these companies may experience less FX pressure than multinational exporters.

Historical Patterns

Looking at previous episodes (1974-1979, 1999-2002, 2002-2006), we find a consistent pattern: periods of fiscal stress and rising term premiums have coincided with small-cap outperformance ranging from 22 to 70 percentage points over their large-cap counterparts.

Fixed Income Competition

As interest rates climb, bonds become increasingly attractive alternatives to stocks. This dynamic could particularly pressure tech giants’ lofty valuations, while reasonably valued small caps with strong fundamentals may hold up better in this competitive landscape.

A Stock Picker’s Market

We’re likely entering a “stock picker’s market” where the era of rising-tide-lifts-all-boats index investing is waning. If economic growth stagnates under the weight of debt concerns and higher interest rates, broad market indexes will struggle to deliver the returns investors have grown accustomed to over the past decade.

In this environment, the ability to identify individual companies with unique advantages becomes paramount. Those capable of spotting opportunities—particularly in the small-cap space where market inefficiencies are more common—stand to realize potentially outsized returns compared to passive index holders. As alpha generation becomes more challenging in mega-caps, skilled fundamental analysis and security selection will likely differentiate performance outcomes.

Risk of Market Consolidation

A significant risk in the current climate is prolonged sideways movement or consolidation in the broader market. This economic phenomenon occurs when asset prices increase even as the real economy shrinks—creating a disconnect between market valuations and underlying fundamentals. Such periods can be particularly challenging for index investors who rely on general market appreciation rather than specific security selection.

This environment of stagnant indexes coupled with pockets of opportunity may drive increased speculative interest in small-cap stocks. As investors search for growth in a growth-starved market, smaller companies with unique value propositions or disruptive potential could attract disproportionate attention and capital flows, creating both opportunities and volatility in this segment.

Investment Implications

For portfolio construction, this evolving landscape strengthens the case for quality small caps versus indexes dominated by duration-sensitive technology giants. Investors should focus on small companies with strong balance sheets, sustainable competitive advantages, and predominantly domestic revenue exposure.

As the market narrative shifts from tariffs to debt sustainability and broad index returns become more challenging, positioning ahead of this potential rotation and developing robust security selection capabilities could prove a prescient move for forward-thinking investors.

Ripple’s Rejected Bid for Circle Signals Stablecoin Consolidation Race Is Heating Up

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Ripple reportedly made a $4–$5 billion bid to acquire USDC issuer Circle, which was declined.
– Circle is pursuing a public listing and is currently in a regulatory quiet period.
– The deal reflects intensifying competition in the stablecoin space ahead of expected U.S. legislation.

Crypto payments firm Ripple made headlines this week after reports emerged that it offered between $4 billion and $5 billion to acquire Circle, the issuer of the USDC stablecoin. While the offer was ultimately turned down, the attempted acquisition highlights a growing race among major players in the digital asset space to consolidate infrastructure and scale stablecoin capabilities ahead of impending U.S. regulation.

According to Bloomberg, Ripple’s bid was rebuffed by Circle as undervaluing the company. The timing is notable: Circle recently filed for a public listing with the SEC and is currently in a regulatory “quiet period,” restricting its ability to comment on financial matters. Nevertheless, the attempted acquisition sheds light on Ripple’s expansion strategy and broader trends in the maturing stablecoin ecosystem.

Ripple CEO Brad Garlinghouse has previously stated the company would be “more proactive in looking at acquisitions,” particularly in blockchain infrastructure. Ripple’s recent launch of its own stablecoin, RLUSD, on Ethereum and the XRP Ledger is consistent with this strategy. RLUSD has grown quickly in 2025, with its market cap rising to $317 million, but it still trails far behind Circle’s USDC, which boasts a market cap exceeding $62 billion and is issued across 19 blockchains.

Stablecoins—cryptocurrencies pegged to fiat currencies like the U.S. dollar—have become central to the crypto economy. They’re used for everything from trading and remittances to DeFi protocols and cross-border payments. As such, ownership of a dominant stablecoin platform offers a critical foothold in the broader digital asset infrastructure.

For Ripple, acquiring Circle would have provided a powerful shortcut to stablecoin dominance. Beyond simply growing its token footprint, the deal could have given Ripple access to Circle’s institutional network, regulatory goodwill, and technical infrastructure—all valuable assets as Congress debates landmark stablecoin regulation. While Ripple’s own RLUSD is gaining traction, it lacks USDC’s deep liquidity and institutional adoption.

This isn’t the first major deal in the stablecoin space. In October 2024, payments firm Stripe acquired Bridge, a stablecoin platform, for $1.1 billion—one of the largest crypto M&A deals to date. The Ripple-Circle talks, though unsuccessful, suggest that much larger transactions could be on the table as fintech and crypto firms position themselves ahead of coming legislation.

Lawmakers in Washington are working on frameworks to regulate stablecoins and digital asset markets. With increased clarity, more traditional financial players—like Bank of America or PayPal—could soon enter the space. That raises the stakes for crypto-native firms like Ripple and Circle, which are racing to cement their roles before regulations unlock the next wave of competition.

For small and micro-cap crypto investors, this event underscores the growing importance of strategic acquisitions in shaping the sector’s future. Ripple’s failed bid also suggests that Circle sees itself on a trajectory toward greater independence and valuation—particularly with a public listing on the horizon.

Whether or not a Ripple-Circle deal is revived, it’s clear the stablecoin wars are accelerating—and consolidation could define the next phase of the crypto market.

Roku Acquires Frndly TV in Strategic Move to Strengthen Affordable Streaming Offerings

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Roku will acquire Frndly TV for $185 million in cash, aiming to expand its affordable live and on-demand TV offerings.
– Frndly TV offers 50+ family-friendly channels and unlimited DVR for $6.99/month, appealing to cost-conscious consumers.
– The acquisition supports Roku’s platform revenue strategy while preserving Frndly TV’s availability across all major devices.

Roku (NASDAQ: ROKU) has announced a definitive agreement to acquire Frndly TV, a low-cost subscription streaming service offering live and on-demand television content. The $185 million all-cash deal is expected to close in the second quarter of 2025 and marks Roku’s latest effort to expand its content offerings and drive subscription revenue through its growing streaming platform.

Founded in 2019 and based in Denver, Colorado, Frndly TV has built a loyal subscriber base by offering more than 50 family-friendly channels—including A&E, Hallmark Channel, Lifetime, and The History Channel—for just $6.99 per month. The service also includes thousands of hours of on-demand content and unlimited cloud-based DVR functionality, appealing to value-conscious viewers seeking alternatives to more expensive cable or streaming bundles.

Roku, already the No. 1 TV streaming platform in the U.S. by hours streamed, sees the acquisition as a natural extension of its efforts to grow platform revenue and bolster its direct-to-consumer subscription business. In a competitive streaming landscape dominated by major players like Netflix, Disney+, and Amazon Prime Video, Roku’s focus on aggregation, accessibility, and affordability gives it a unique position to appeal to mainstream households and budget-conscious consumers.

“Frndly TV has carved out an impressive niche by delivering high-quality, feel-good programming at a very competitive price,” said Roku CEO Anthony Wood. “This acquisition enhances our ability to serve the growing segment of viewers seeking live TV without the high cost of traditional cable. It’s a move that supports both our customer-first philosophy and our monetization goals.”

The deal structure includes a $75 million performance-based holdback, contingent on Frndly TV achieving certain subscription and revenue milestones over the next two years. Frndly TV’s leadership team, including co-founder and CEO Andy Karofsky, will remain with the company post-acquisition to maintain continuity and support its growth within the Roku ecosystem.

Importantly, Frndly TV will continue to operate as a multi-platform service. It will remain available on Amazon Fire TV, Apple TV, Android and Google TV, Samsung and Vizio smart TVs, as well as on mobile apps and the web—ensuring that existing subscribers can continue accessing their content without disruption.

For Roku, the acquisition aligns with its broader strategy to offer comprehensive content at competitive price points while continuing to invest in its proprietary advertising and subscription infrastructure. The company has made it clear that adding subscription value—especially live TV and family-friendly entertainment—is a core component of its growth model moving forward.

This move also puts Roku in a stronger position to compete in the live TV space, where rivals like YouTube TV and Hulu + Live TV offer broader packages at significantly higher price points. By acquiring Frndly TV, Roku gains a differentiated product that serves an underserved market segment.

With stable subscriber growth, brand trust, and a growing library of original and licensed content, Roku’s purchase of Frndly TV is poised to pay long-term dividends, particularly as consumers continue to shift from traditional cable to more flexible and affordable streaming solutions.

Release – Orange 142 Releases “Digital Audio Best Practices Guide” to Help Marketers Maximize Reach in a Rapidly Evolving Audio Landscape

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on Direct Digital

May 01, 2025 9:00 am EDT

New resource offers insights, strategies, and tips to build measurable digital audio campaigns

AUSTIN, Texas, May 1, 2025 /PRNewswire/ — Orange 142, LLC (“Orange 142”), a division of Direct Digital Holdings (Nasdaq: DRCT) and a leading digital marketing agency for mid-market brands and agencies, today announced the release of its Digital Audio Best Practices Guide. Developed by Orange 142’s Emerging Channels Council, the guide provides marketers with the strategic frameworks and practical insights to leverage digital audio as a performance-driving channel fully.

Digital audio is becoming more popular, with over 228 million Americans tuning in monthly across podcasts, streaming music, and internet radio. As this channel grows, it offers advertisers new opportunities to connect with highly engaged audiences through data-driven, programmatic campaigns.

“With this guide, we’re giving marketers of any size a playbook to fully tap into the power of digital audio—an environment where audiences are deeply engaged and often unreachable through other media,” said Lindsey Wilkes, SVP, Business Development and head of the Emerging Channels Council. “Whether listeners commute, work out, or cook dinner, digital audio offers rare, screen-free moments to deliver hyper-relevant messages. It’s not just about being heard—it’s about building brand presence in the everyday routines where loyalty is shaped.”

The guide explores:

  • The current opportunity in digital audio, including key audience and spend trends
  • The unique advantages of digital audio include precision targeting, immersive storytelling, and lower fraud risks
  • Industry challenges such as platform fragmentation, measurement limitations, and privacy regulations
  • Emerging trends, including AI-driven optimization, spatial audio, and programmatic growth
  • Privacy best practices for responsible targeting and consent management
  • Advanced approaches to measurement that move beyond basic exposure metrics to deliver meaningful attribution insights
  • Practical implementation strategies for audio creative, campaign optimization, and cross-channel alignment

“Digital audio combines the power of storytelling with the precision of digital targeting,” added Lindsey Wilkes. “But success requires more than just buying inventory—it takes intentional creative strategy, cross-device measurement, and a deep understanding of the audio landscape. With this guide, we deliver everything in one place for marketers.”

The Digital Audio Best Practices Guide is part of a broader initiative from the Orange 142 Emerging Channels Council, which serves as a thought leadership hub for helping independent brands and agencies explore innovative and underutilized advertising channels. The Council helps marketers unlock new growth opportunities through sustainable and scalable media strategies by providing access to education, collaboration, and actionable tools.

To download the Digital Audio Best Practices Guide or explore additional Emerging Channels resources, visit: orange142.com/emerging-channels-hub

About Orange 142
Orange 142 is a digital marketing and advertising company helping businesses and agencies of all sizes grow their reach and revenue through strategic, data-driven media execution. As the buy-side arm of Direct Digital Holdings (Nasdaq: DRCT), Orange 142 delivers customized solutions across programmatic, search, social, connected TV, and emerging digital channels. With deep expertise in high-growth sectors such as Travel & Tourism, Healthcare, Energy, and Financial Services, Orange 142 creates results-driven campaigns that connect brands with their most valuable audiences.

To learn more, visit www.orange142.com

Release – Snail Games Reports April 2025 Momentum with Key Franchise Expansions, New Indie Horror IP Releases, and Strategic Publishing Growth

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on Snail

May 1, 2025 at 8:30 AM EDT

CULVER CITY, Calif., May 01, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today highlighted major milestones across its portfolio for April 2025, including expansions within the ARK franchise, a content milestone for Bellwright, and multiple IP launches under Wandering Wizard, the Company’s independent indie publishing label.

ARK Franchise Strengthens with New Content
Snail Games continued to build on the momentum of its flagship sandbox survival IP with two major content updates:

  • Eggcellent Adventure Returns to ARK: Survival Ascended
    The seasonal Eggcellent Adventure event reinforces seasonal events as a key strategy for retention and re-engagement.
  • Extinction Map Launches in ARK: Ultimate Mobile Edition
    The rollout of the Extinction map on mobile represents a continued push into high-growth mobile markets. This update supports Snail Games’ long-term vision of delivering premium survival experiences across multiple platforms, making the IP more accessible to a broader audience of players.

In addition to new content releases, Snail Games continues to prepare for the 10-year anniversary of its flagship ARK: Survival Evolved, with the anticipated upcoming release of its new expansion map DLC, ARK: Aquatica.

Bellwright Marks One Year in Early Access with Major Update
April 2025 also marked the one-year Early Access anniversary for Bellwright. The update introduced significant new content and player-requested features. With a growing player base and positive community sentiment, Bellwright reflects Snail’s commitment to long-term support and scalable IP growth.

Notable Update Features include:

  • Animal Husbandry & Advanced Resource Systems
    Players can now raise livestock through new husbandry structures, producing essential resources like milk, eggs, and meat. Paired with the new Butchery system, this deepens the economy and rewards strategic village management.
  • Fishing & Exploration Enhancements
    A full-featured fishing system with diverse fish types, mini-games, and a Fishing Hut adds immersive gameplay variety. New locations, including caves, swamps, and mountain trails, further expand the world’s exploration potential.
  • Quality-of-Life Upgrades & Narrative Expansion
    A major crafting UI overhaul, savable squad rosters, and over 25 new quests enhance both accessibility and long-term player retention.

Wandering Wizard Celebrates New Game Launches and Acquisition
Snail Inc’s indie publishing label Wandering Wizard deepened its footprint in the horror space with two notable releases and a strategic publishing deal.

  • Launches of The Cecil: The Journey Begins and Chasmal Fear
    In April 2025, Wandering Wizard expanded its catalog with the launch of two horror titles, The Cecil: The Journey Begins and Chasmal Fear. Both games highlight the creativity and passion of small indie teams — with The Cecil: The Journey Begins crafted by a solo developer and Chasmal Fear brought to life by a duo of brothers. These releases underscore Wandering Wizard’s commitment to empowering independent creators and bringing bold, fresh voices to the gaming community.
  • Publishing Rights Secured for Whispers of West Grove
    The acquisition of publishing rights to Whispers of West Grove adds another indie horror experience to the Wandering Wizard portfolio, aligning with Snail Games’ strategy of identifying high-potential indie IPs with organic audience momentum.

These achievements reflect Snail Games’ continued execution across its core franchises, emerging IPs, and strategic publishing initiatives. As the Company moves into the second quarter, it remains focused on the 10-year anniversary of ARK: Survival Evolved, the anticipated launch of the ARK: Aquatica DLC, expanding its global reach, investing in scalable growth opportunities, and delivering fresh experiences that engage players across multiple platforms and genres.

For Creators interested in collaborative opportunities reach out to creatordirect@noiz.gg

For media inquiries, interview requests, or additional details, please contact: press@snailgamesusa.com

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 include, but are not limited to, statements regarding expansions within the ARK franchise, development of new content, a content milestone for Bellwright, and multiple IP launches under Wandering Wizard, the Company’s independent indie publishing label. 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 – Graham Corporation Announces Strategic Investment by Customer to Enhance Production Capabilities in Batavia

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on Graham Corporation

May 01, 2025 8:30am EDT

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, and vacuum technologies for the defense, space, energy, and process industries, today announced a strategic investment to support the implementation of new Radiographic Testing (“RT”) equipment at Graham’s Batavia, New York facility.

The investment of $2.2 million, from one of GHM’s customers, will enhance the Company’s capabilities in evaluating critical welds in support of the Columbia and Virginia class submarine programs. As part of the investment, Graham will also contribute $1.4 million for a total project cost of $3.6 million.

Daniel J. Thoren, CEO commented, “This strategic investment in RT equipment represents our commitment to delivering the highest quality components for critical naval defense programs. The upgraded RT capabilities at our Batavia facility is expected to significantly enhance our production efficiency while ensuring superior quality control for the vital welds that support the Columbia and Virginia class submarine programs. We’re grateful for our customer’s commitment to drive enhanced manufacturing infrastructure and are excited to continue our partnership.”

The strategic investment creates opportunities to support future, multi-year orders with potential enhanced revenue expected to begin in calendar year 2026.

This agreement builds upon previously announced investments by partners, including $13.5 million to expand defense production capabilities in Batavia in August 2023 and $2.1 million by the BlueForge Alliance in July 2024 to expand Graham’s welder training program in support of the U.S. Navy’s Submarine Industrial Base initiatives.

About Graham Corporation

Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

Safe Harbor Regarding Forward Looking Statements

This news release contains 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.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “continue,” “expects,” “future,” “will,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, expected expansion and growth opportunities, and expected benefits from the implementation of new RT equipment, are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission (the “SEC”), included under the heading entitled “Risk Factors”, and in other reports filed with the SEC.

Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

For more information, contact:
Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Tom Cook
Investor Relations
Phone: (203) 682-8250
tom.cook@icrinc.com

Source: Graham Corporation

Released May 1, 2025

Release – Bitcoin Depot Schedules First Quarter 2025 Conference Call for Thursday, May 15th at 10:00 am ET

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on Bitcoin Depot

May 01, 2025 8:00 AM EDT

ATLANTA, May 01, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot (“Bitcoin Depot” or the “Company”) (NASDAQ: BTM), a U.S.-based Bitcoin ATM operator and leading fintech company, will hold a conference call and live audio webcast on Thursday, May 15th at 10:00 a.m. Eastern time (7:00 a.m. Pacific time) to discuss its financial results for the first quarter ended March 31, 2025. Bitcoin Depot plans to release results before the market opens on the same day.

Call Date: Thursday, May 15, 2025  
Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)

Phone Instructions
U.S. and Canada (toll-free): 888-596-4144
U.S. (toll): 646-968-2525
Conference ID: 4520708

Webcast Instructions
Webcast link: https://edge.media-server.com/mmc/p/akdxpm7o

A replay of the call will be available beginning after 2:00 p.m. Eastern time through May 22, 2025.

U.S. & Canada (toll-free) replay number: 800-770-2030
U.S. toll number: 609-800-9909
Conference ID: 4520708

If you have any difficulty connecting with the conference call, please contact Bitcoin Depot’s investor relations team at 1-949-574-3860.

About Bitcoin Depot
Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with over 8,400 kiosk locations as of February 25, 2025. Learn more at www.bitcoindepot.com. 

Contacts:

Investors 
Cody Slach
Gateway Group, Inc. 
949-574-3860 
BTM@gateway-grp.com

Media 
Brenlyn Motlagh, Ryan Deloney 
Gateway Group, Inc.
949-574-3860 
BTM@gateway-grp.com

Source: Bitcoin Depot Inc.

Released May 1, 2025

Novartis to Acquire Regulus Therapeutics in $1.7 Billion Biotech Buyout

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Novartis to acquire Regulus for up to $1.7B, including $7/share upfront and $7/share tied to farabursen approval.
– Farabursen, a potential first-in-class ADPKD treatment, heads into Phase 3 with FDA alignment.
– Boosts Novartis’s kidney disease pipeline and commitment to innovation in rare conditions.

Novartis AG announced plans to acquire Regulus Therapeutics Inc. in a transaction valued at up to $1.7 billion, reinforcing the Swiss pharmaceutical giant’s strategy to deepen its portfolio in renal and genetic disease treatments. The deal includes an upfront cash payment of $7.00 per share, representing approximately $800 million in equity value, and an additional $7.00 per share tied to a regulatory milestone via a contingent value right (CVR), pending approval of Regulus’s lead drug candidate, farabursen.

Farabursen is being developed as a novel treatment for autosomal dominant polycystic kidney disease (ADPKD), a condition with limited current options and significant unmet clinical need. If approved, farabursen could become the first systemic therapy of its kind in this indication, offering a potentially superior safety and efficacy profile compared to existing treatments.

The acquisition reflects a growing trend in the biopharma sector where large-cap pharmaceutical companies pursue innovative pipelines through targeted M&A. In recent quarters, the industry has seen an uptick in transactions focused on small to mid-sized biotech firms that specialize in high-impact therapies for rare or underserved diseases. Regulus’s focus on microRNA-based therapies, a field once viewed as experimental, is now receiving renewed attention as advances in RNA technology improve target precision and therapeutic delivery.

For Novartis, the move expands its nephrology franchise and bolsters its pipeline in genetic disorders, aligning with the company’s long-term innovation strategy. Financially, the deal signals confidence in both Regulus’s platform and farabursen’s development prospects. The 274% premium to Regulus’s 60-day volume-weighted average price underscores the strategic value Novartis sees in the program.

The transaction is expected to close in the second half of 2025, subject to regulatory approval and the successful tender of a majority of Regulus’s outstanding shares. Once finalized, Regulus will become a wholly owned subsidiary of Novartis, with its operations and development programs integrated into Novartis’s global R&D structure.

The deal may also serve as a bellwether for continued consolidation in biotech, particularly among companies advancing oligonucleotide or RNA-based therapeutics. Investors are likely to see the acquisition as further validation of microRNA platforms, potentially reinvigorating interest in similar early-stage biotech firms.

At a time when cost pressures and generic competition are accelerating across the pharmaceutical landscape, acquiring promising assets with a clear regulatory path remains a preferred strategy for growth. For Regulus, integration with Novartis offers the financial and operational muscle needed to take farabursen through the final stages of development and, if approved, to global markets.

As the biotech sector continues to recalibrate from recent valuation contractions, strategic acquisitions like this illustrate the enduring value of focused innovation, especially in areas with limited treatment alternatives and high unmet demand.

Release – Century Lithium Provides Update On Angel Island

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on Century Lithium

April 30, 2025 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to provide an update on its 100%-owned lithium project, Angel Island (“Angel Island”) near Silver Peak, Nevada.

Strategic Policy Developments

Century Lithium welcomes recent Executive Orders from the White House under President Donald J. Trump, which prioritize domestic mining and processing of critical minerals. These directives emphasize the need for a secure US-based supply chain for lithium, which is an essential mineral for use in battery production for energy storage, EVs, and defense. The Company believes it is uniquely positioned to support this national initiative with Angel Island, a feasibility-level lithium project, and a single-source miner and producer of lithium carbonate.

“Century Lithium is uniquely prepared to contribute to a domestic solution for lithium products at Angel Island,” said Bill Willoughby, Century Lithium President and CEO. “Our demonstration plant and advanced technology position us to contribute to the efforts of the US mining industry in building secure and sustainable domestic critical minerals supply chains.”

Permitting Update

The Company recently met with the Nevada State Office of the Bureau of Land Management (“BLM”) to discuss the implications of recent White House Executive Orders and progress on environmental studies and permitting for Angel Island. On the Federal level, the remaining steps include completion and approval of final baseline studies, and completion and submittal of the Mine Plan of Operations (“PoO”) for BLM approval. Following approval of the PoO, the BLM will determine the appropriate level of National Environmental Policy Act analysis that will be required, either an environmental assessment or an environmental impact statement. Throughout this process to date, the BLM has provided helpful and timely assistance as we work through the permitting process. Century Lithium looks forward to a continued positive working relationship with the BLM moving forward.

ABOUT CENTURY LITHIUM CORP.

Century Lithium Corp. is an advanced stage lithium company, focused on developing its wholly owned Angel Island project in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with direct lithium extraction to make battery-grade lithium carbonate product samples from Angel Island’s lithium-bearing claystone on-site at its Demonstration Plant in Amargosa Valley, Nevada. Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate for the growing electric vehicle an battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan expected to yield an estimated life-of-mine average of 34,000 tonnes per year of carbonate over a 40-year mine-life.

To learn more, please visit centurylithium.com 

ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
scacos@centurylithium.com
centurylithium.com 

Release – AI Reshapes Brazilian Salesforce Implementations

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on ISG

4/30/2025

Companies look to Einstein, Agentforce, third-party tools to boost efficiency, personalize customer experiences, ISG Provider Lens™ report says

SÃO PAULO–(BUSINESS WIRE)– The use of AI in Salesforce deployments has become a major trend in Brazil, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm.

The 2024 ISG Provider Lens™ Salesforce Ecosystem Partners report for Brazil finds that many enterprises in Brazil are integrating AI with Salesforce environments, most commonly to improve customer experience and operating efficiency. AI is enhancing functions such as coding, testing, hyper-personalization of customer experience and managed services to find and fix software errors. Often with the help of service providers, companies are evaluating or adopting Salesforce’s Einstein generative AI and Agentforce agentic AI tools, as well as technologies from other vendors.

“Brazilian companies are learning how to use AI with Salesforce for new insights and competitive advantage,” said Bill Huber, partner, digital platforms and solutions, for ISG. “In many cases, service providers supply critical knowledge and tools to make this possible.”

Agentforce, introduced in 2024, creates autonomous agents that perform complex tasks without human intervention. This holds strong potential for projects such as automating customer service call centers, ISG says. Salesforce charges Agentforce customers per conversation rather than per user. Enterprises are evaluating the costs and capabilities of Agentforce, which is available in Brazil in an English production release and a Portuguese beta version.

As AI is integrated into Salesforce implementations, Brazilian enterprises face increasingly complex IT environments and a growing number of solutions, models and applications to choose from, ISG says. Performance, customization and cost can influence these choices. Companies are turning to the Salesforce ecosystem for consulting services to help them decide where to use AI, which AI solutions best fit their needs and what productivity gains to expect.

A growing number of enterprises, especially in emerging markets such as Brazil, also seek license management services to help them navigate the complexities of multi-cloud Salesforce environments, ISG says. They expect providers to actively monitor license use to prevent unnecessary expenses and propose changes that minimize their costs.

“The expanding possibilities of Salesforce can lead to higher complexity and new cost considerations,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Brazilian enterprises are approaching Salesforce projects carefully, partnering with leading service providers for guidance.”

In addition, the Salesforce Customer Data Platform (CDP) Cloud is expected to play a key role in Salesforce AI implementations in Brazil, the report says. The platform collects and stores customer data, helping companies ensure they have high-quality, accessible data to feed into AI engines for customer insights and personalization.

The report also examines other Salesforce ecosystem trends in Brazil, including a wave of provider acquisitions and Salesforce’s integration of its Marketing Cloud into its core cloud structure.

For more insights into the Salesforce-related challenges facing Brazilian enterprises, plus ISG’s advice for addressing them, see the ISG Provider Lens™ Focal Points briefing here.

The 2024 ISG Provider Lens™ Salesforce Ecosystem Partners report for Brazil evaluates the capabilities of 41 providers across six quadrants: AI-powered Multicloud Implementation Services — Large Enterprises, Implementation Services for Core Clouds and AI Agents — Midmarket, Implementation Services for Marketing and Commerce with AI Enablement, Managed Application Services — Large Enterprises, Managed Application Services — Midmarket and Implementation Services for Industry Clouds.

The report names Accenture, Everymind and OSF Digital as Leaders in four quadrants each and Deloitte as a Leader in three quadrants. It names atile.digital, BRQ, GFT, Globant, iSmartBlue, JFOX, Sottelli, SYS4B and Valtech as Leaders in two quadrants each. Cadastra, Capgemini, enext, Infosys, LEOO, match.mt and NTT DATA are named as Leaders in one quadrant each.

In addition, NTT DATA and Visum Digital are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants each. The report names gentrop and HCLTech as Rising Stars in one quadrant each.

A customized version of the report is available from atile.digital.

In the area of customer experience, HCLTech is named the global ISG CX Star Performer for 2024 among Salesforce ecosystem partners. HCLTech earned the highest customer satisfaction scores in ISG’s Voice of the Customer survey, which is part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.

The 2024 ISG Provider Lens™ Salesforce Ecosystem Partners report for Brazil is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

About ISG

ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

Source: Information Services Group, Inc.

Release – NN Announces 2025 Investor Day

Posted on by slightbourne@noblecapitalmarkets.com

Research News and Market Data on NN Inc.

Company plans to host a virtual investor day for analysts, current and prospective investors in August 2025

CHARLOTTE, N.C., April 30, 2025 (GLOBE NEWSWIRE) — NN (NASDAQ: NNBR) a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today announced its plans to host a 2025 virtual investor day in August 2025.

NN has been performing to its short-term and long-term goals. During its coming Investor Day, NN’s executive management plans to provide updates and discuss multiple important shareholder value-creating topics including:

  • A holistic update to NN’s five-year targets for sales growth, increased profitability, and shareholder value
  • Update on 2025 Outlook
  • The Company’s capital allocation strategy
  • The Company’s M&A acquisition strategy and objectives
  • The Company’s capital markets strategy and the next phase of its capital structure optimization roadmap
  • An overview and discussion of market trends and NN’s participation in specific markets including;
    • US electrical grid market
    • US industrial market
    • Global passenger vehicle market
    • Global commercial vehicle market
    • Global medical market
  • NN management will also host discussions and overviews on important topics including;
    • NN’s $700+ million new business program and pipeline specifics
    • NN’s cost-out program and major ongoing and upcoming projects
    • NN’s free cash flow generation program and major associated projects

There will be more to come regarding this investor event. NN management plans to spend the day together with analysts, current and prospective investors, lenders, and the broader investment community.

About NN

NN is a global industrial company that combines advanced engineering and production capabilities to deliver solutions for high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Asia, Europe, and South America. For more information, visit www.nninc.com. 

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These statements may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to NN, Inc. (the “Company”) based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “growth,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project,” “trajectory” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises, on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, military conflict, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, the availability of labor and labor disruptions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; new laws and governmental regulations; the impact of climate change on our operations; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

Investor Relations: 
Joseph Caminiti or Stephen Poe, Investors 
NNBR@alpha-ir.com  
312-445-2870