– GM and Nvidia are partnering to integrate AI-powered solutions into vehicle design, advanced driver-assistance systems (ADAS), and factory automation. – GM will leverage Nvidia’s Omniverse platform for digital factory planning, optimizing manufacturing processes, and improving robotics. – Nvidia continues its push into the automotive industry, competing with rivals in AI-driven vehicle technology.
General Motors and Nvidia have announced a major collaboration aimed at revolutionizing the automotive industry with AI-driven technology. This strategic partnership will see GM leveraging Nvidia’s advanced artificial intelligence solutions across multiple facets of its business, from vehicle development to factory optimization.
“The era of physical AI is here, and together with GM, we’re transforming transportation, from vehicles to the factories where they’re made,” said Jensen Huang, Nvidia founder and CEO. “We are thrilled to partner with GM to build AI systems tailored to their vision, craft, and know-how.”
A central component of this partnership is GM’s adoption of Nvidia’s Omniverse platform, which enables the creation of “digital twins”—virtual replicas of real-world environments. GM has already been experimenting with Omniverse since 2022 to digitally simulate its design centers and optimize vehicle development. This new collaboration extends those efforts, incorporating Nvidia’s AI-powered solutions into GM’s assembly plants and production facilities.
Beyond manufacturing, GM will integrate Nvidia’s Drive AGX platform into its next-generation vehicles. This hardware will support future advanced driver-assistance systems (ADAS) and enhance in-cabin safety features. The partnership positions GM to further compete in the race toward fully autonomous and AI-enhanced vehicles, an area where competitors like Tesla and Mercedes-Benz have been making significant strides.
While GM has relied on Nvidia’s graphics processing units (GPUs) for AI model training, this expanded agreement takes their collaboration to a new level. The financial terms of the deal were not disclosed, but Nvidia has been known to license Omniverse for $4,500 per GPU, per year. Given the scale of GM’s operations, the automaker is expected to require a substantial number of GPUs to power its AI-driven initiatives.
The announcement coincides with Nvidia’s GTC AI conference, where the company has been showcasing its advancements in AI and simulation technology. The move comes as both Nvidia and GM navigate competitive and regulatory challenges, including increased competition from China and evolving U.S. trade policies. GM’s stock has dropped roughly 8% in 2025, while Nvidia has seen a 12% decline, underscoring the pressure both companies face to innovate and expand their market presence.
GM CEO Mary Barra highlighted the broader implications of the partnership, stating, “AI not only optimizes manufacturing processes and accelerates virtual testing but also helps us build smarter vehicles while empowering our workforce to focus on craftsmanship. By merging technology with human ingenuity, we unlock new levels of innovation in vehicle manufacturing and beyond.”
With over 20 other automakers—including Mercedes-Benz, Volvo, and Volkswagen—already using Nvidia’s automotive AI solutions, this partnership further cements Nvidia’s role in the future of intelligent vehicles. As demand for AI-powered automotive solutions continues to grow, this collaboration between GM and Nvidia represents a significant step forward in reshaping how vehicles are designed, built, and driven.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4Q Results. CVG reported 4Q24 revenue of $163.3 million, down 15.7% y-o-y due to ongoing weakness in the Construction and Ag markets, as well as a drop in Class 8 truck builds. Adjusted EBITDA was $0.9 million, down from $8.3 million. CVG reported an adjusted loss from continuing operations of $5.1 million, or a loss of $0.15/sh, compared to adjusted net income of $2.1 million, or EPS of $0.06, in 4Q23.
Strategic Initiatives. The Company implemented a number of strategic initiatives during 2024, including portfolio rationalization and the elimination of some 1,300 positions. These should result in some $15 million of gross savings in 2025, which should help improve margins.
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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.
Partnership to elevate guest experience through supply of premium terry cloth towels and bedding
BOCA RATON, Fla.–(BUSINESS WIRE)–Mar. 11, 2025– ODP Business Solutions, a leading supplier of workplace solutions and services and a division of The ODP Corporation (NASDAQ: ODP), today announced a new distribution partnership with luxury linens and terry cloth towels brand Sobel Westex, signaling continued growth in the hospitality sector. This collaboration positions ODP Business Solutions as a key supplier for in-room needs, reinforcing its commitment to delivering premium products and services across diverse sectors.
“This partnership exemplifies our commitment to driving growth in the hospitality sector while demonstrating our ability to deliver trusted brands and products across diverse industries, extending beyond office supplies,” said David Centrella, executive vice president of The ODP Corporation and president of ODP Business Solutions. “By integrating Sobel Westex’s renowned luxury bedding and terry cloth towels into our portfolio, we’re not just meeting but exceeding the expectations of our clients.”
Sobel Westex is a leading global hospitality and retail textile company known for its commitment to quality, innovation and sustainability. Through ODP Business Solutions’ expansive customer roster and logistic infrastructure, Sobel Westex will now provide their comprehensive range of hospitality products that extend far beyond the traditional, offering premium pillows, plush terry towels, high-quality linens, blankets, pool towels and spa-like robes, all designed to create a luxurious and inviting atmosphere.
“When we look at this new partnership with ODP Business Solutions, we know it will be a transformative venture for both of our companies and can change the hospitality industry as we know it. Their exceptional distribution expertise and extensive customer network make it an easy decision to trust them with our product portfolio,” said Walter Pelaez, chief executive officer at Sobel Westex.
Sobel Westex’s offerings are all crafted from high-quality materials like premium cotton, ensuring temperature regulation and superior comfort, durability and luxury across their entire product line. Their commitment to excellence is reflected in products that are meticulously crafted to provide unparalleled comfort and sophistication, catering to travelers who expect the finest hospitality experiences.
“Introducing Sobel Westex’s luxury products to our hospitality distribution services allows us to offer our customers the opportunity to create truly memorable guest experiences,” said Nisha Brown, vice president of marketing & product management at ODP Business Solutions. “From crisp, high-quality sheets to plush, indulgent bedding, superior linens provide weary travelers with the comfort they crave, transforming a night’s rest into a truly rejuvenating experience. This partnership aligns perfectly with our commitment to delivering trusted brands and extraordinary products across all industries we serve.”
This partnership announcement follows ODP Business Solutions’ recent milestone agreement with a leading hospitality management company, becoming a key supplier and distribution partner. ODP Business Solutions will continue delivering high-quality solutions in traditional product categories, including furniture, professional cleaning and breakroom, while expanding into new categories to better serve the needs of its hospitality customers and customers across other verticals.
ODP Business Solutions is a trusted partner with more than 30 years of experience working with businesses to adapt to the ever-changing world of work. From technology transformation, sustainability, innovative workspace design, cleaning and breakroom, and everything in between, ODP Business Solutions has the integrated products and services businesses need. Powered by a collaborative team of experienced business consultants, world-class logistics and trusted brand names, ODP Business Solutions advances how the working world gets work done. For more information on ODP Business Solutions, visit www.odpbusiness.com.
ODP Business Solutions is a division of The ODP Corporation (NASDAQ: ODP). ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Any other product or company names mentioned herein are the trademarks of their respective owners.
About Sobel Westex:
Sobel Westex is the leading manufacturer to the hospitality and home fashion industry globally. Sobel Westex has successfully integrated design, manufacturing and distribution around the world. The company provides their clients with the highest quality experiences for bed linens, terry, robes, blankets, pillows and beyond. Sobel Westex’s wealth of products is equaled only by their depth of experience and service, which is why they measure their partnerships not in years, but in decades. For more information on Sobel Westex or to contact a representative, visit www.sobelathome.com.
About The ODP Corporation
The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.
This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, The ODP Corporation (“the Company”), based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “expectations”, “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” “aim” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. There can be no assurances that the Company will realize these expectations or that these beliefs will prove correct, and therefore investors and stakeholders should not place undue reliance on such statements.
Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update or revise any forward-looking statements.
Office Depot, Inc., together with its subsidiaries, supplies a range of office products and services. It offers merchandise, such as general office supplies, computer supplies, business machines and related supplies, and office furniture through its chain of office supply stores under the Office Depot, Foray, Ativa, Break Escapes, Worklife, and Christopher Lowell brand names. The company also provides graphic design, printing, reproduction, mailing, shipping, and other services through design, print, and ship centers. It has operations throughout North America, Europe, Asia, and Central America. The company also sells its products and services through direct mail catalogs, contract sales force, Internet sites, and retail stores, through a mix of company-owned operations, joint ventures, licensing and franchise agreements, alliances, and other arrangements. As of December 31, 2008, Office Depot operated 1,267 North American retail division office supply stores and 162 international division retail stores, as well as participated under licensing and merchandise arrangements in 98 stores. The company was founded in 1986 and is based in Boca Raton, Florida.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New Partnership. The ODP Corporation continued its B2B push with the signing of a new partnership agreement with CoreTrust. The agreement marks the latest in a series of new contracts for ODP Business Solutions, moving the segment into new, growing industries. Through this partnership, ODP Business Solutions will offer products and services to CoreTrust’s 3,500+ business member purchasing collective, which serves major industries including retail, manufacturing, hospitality, and finance.
Details. Under the contract, ODP Business Solutions will supply CoreTrust members with high-quality solutions, including interiors/furniture, technology, breakroom supplies, and paint, promotion, and apparel services at an exceptional value. These categories are expected to expand industry wide by a 4-6% compound annual growth rate over the next five years.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*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.
Key Points: – Rocket Companies has announced a $1.75 billion all-stock acquisition of real estate brokerage Redfin. – Redfin’s stock surged over 76%, while Rocket’s shares dropped by 10% following the announcement. – The merger aims to streamline the home-buying process by integrating mortgage lending, brokerage, and real estate listings into one ecosystem.
Rocket Companies, a leading mortgage lender, has announced plans to acquire digital real estate brokerage Redfin in an all-stock transaction valued at $1.75 billion. The move seeks to integrate home search, brokerage services, mortgage lending, and title services under one platform, creating a more seamless and cost-efficient home-buying experience for consumers.
The acquisition is positioned as a strategic effort to modernize and consolidate the fragmented home-buying process. Rocket CEO Varun Krishna emphasized the inefficiencies in the current system, where home search, brokerage, mortgage, and title services exist in separate ecosystems. By combining Rocket’s mortgage and financing capabilities with Redfin’s online brokerage and home search platform, the companies aim to streamline the process and reduce transaction costs, which currently total around 10% of a home’s price.
Redfin, founded in 2004, operates a technology-driven real estate platform with over one million for-sale and rental listings and employs more than 2,200 agents. Rocket Companies, best known for its Rocket Mortgage brand, sees the acquisition as a natural fit to leverage artificial intelligence and automation to accelerate the homebuying process.
Following the announcement, Redfin shares skyrocketed by over 76%, reflecting investor enthusiasm for the deal’s potential to reshape the real estate industry. Meanwhile, Rocket’s stock fell by 10%, as investors weighed the financial implications of the transaction. The deal values Redfin at $12.50 per share, a 115% premium over its last closing price before the announcement.
Under the terms of the agreement, Redfin shareholders will receive approximately 0.8 shares of Rocket stock for each share of Redfin they own. Once the deal is finalized, current Rocket shareholders will own about 95% of the combined company, with Redfin shareholders controlling the remaining 5%. Rocket shareholders will also receive a special dividend of $0.80 per share.
The companies project that the merger will generate $200 million in cost synergies by 2027, including $140 million in operational efficiencies and an additional $60 million from enhanced collaboration between Redfin’s agents and Rocket’s financing platform. By aligning these services, the combined company aims to close home transactions faster and provide a more seamless customer experience.
Redfin CEO Glenn Kelman will continue to lead the business post-merger and will report directly to Rocket CEO Varun Krishna. The deal has been approved by both companies’ boards and is expected to close in the second or third quarter of 2025, pending regulatory approval and customary closing conditions.
This acquisition comes at a time of volatility in the housing market, with high mortgage rates and tight housing supply impacting affordability. Redfin’s stock, once trading near $96 per share at its pandemic peak in 2021, has struggled in the higher-rate environment. Rocket Companies, which went public in 2020, has similarly faced headwinds as mortgage demand has declined.
By integrating home search and mortgage lending, Rocket and Redfin could provide consumers with a more efficient home-buying experience. However, questions remain about execution risks and how regulators will view the increased consolidation of real estate services.
Key Points: – The 10-year yield is falling, signaling potential economic concerns. – Value stocks are holding up, but major indices are down, with only the Dow managing gains. – The inverted yield curve historically precedes recessions, though recent history has offered mixed signals. – While small caps have been under pressure, they could present attractive investment opportunities.
As treasury yields decline and the stock market falters, investors are left wondering: Is the U.S. heading into a recession? The market rally that defined much of last year has faded as interest rate cuts have come to a halt, leading to renewed concerns about economic contraction. Historically, the bond market has been a reliable predictor of recessions, and with the longest lasting inverted yield curve ending in late August 2024, suggests that investors should take notice.
The Yield Curve’s Recession Warning
One of the most closely watched economic indicators is the yield curve—the relationship between short-term and long-term interest rates on U.S. government bonds. Typically, longer-term bonds carry higher yields than short-term ones. However, when the yield curve inverts, meaning short-term bonds yield more than long-term ones, it has historically signaled an impending recession.
The record for the longest inverted yield curve was broken in August 2024 with 793 days. The previous record stood at 624 days set in 1979. This is significant because, throughout history, an inverted yield curve has been a highly accurate predictor of recessions. In nearly every case, when the yield curve inverts, a recession follows within 12-18 months. The exception was four years ago when the yield curve inverted three times, yet no recession materialized. The key question now is whether this time will follow historical norms or diverge as it did in the recent past.
Stock Market Implications
The stock market is showing signs of strain. While value stocks are holding up relatively well, major indices have struggled. The S&P 500 and Nasdaq have been in the red, with only the Dow managing to stay in positive territory. This weakness across equities suggests investors are reassessing risk and economic growth prospects.
A falling 10-year yield often signals that investors are seeking safety in government bonds, rather than taking on risk in equities. This shift in sentiment could reflect a broader concern about future economic growth and corporate earnings.
Why Small Caps Could Be a Smart Play
Small-cap stocks, often seen as more economically sensitive, have been particularly vulnerable in the current environment. Unlike large-cap stocks, which can better weather economic downturns due to stronger balance sheets and diversified revenue streams, small-cap companies tend to struggle when borrowing costs are high and consumer demand weakens. However, this very weakness can present opportunity.
Historically, small-cap stocks have tended to perform well coming out of economic slowdowns or recessions. When the Federal Reserve eventually pivots toward cutting interest rates again, small caps could benefit significantly from lower borrowing costs and increased economic activity. Additionally, small-cap stocks tend to be more attractively valued in uncertain times, making them a potential area of opportunity for investors willing to take a longer-term perspective.
Consumer Debt and Economic Strain
Another factor adding to recession fears is the state of U.S. consumer debt. Credit card balances have reached record highs, and with interest rates at their highest levels in decades, the burden on consumers is intensifying. High consumer debt combined with rising delinquencies could lead to reduced consumer spending, which is a major driver of the U.S. economy.
Are We Headed for a Recession?
While no indicator can predict the future with absolute certainty, the current economic signals are concerning. The longest inverted yield curve in the rearview mirror, declining treasury yields, stock market weakness, and record-high consumer debt all point to potential economic troubles ahead. If history is any guide, the U.S. could be facing a slowdown or even a recession in the coming months. However, for investors, this may also present opportunities—particularly in areas like small-cap stocks, which historically rebound strongly as economic conditions improve.
Investors should remain cautious but also look for potential value plays in the small-cap space, as these stocks may offer upside once the market begins to stabilize. As always, diversification and a long-term approach remain key to navigating uncertain times.
GRAND RAPIDS, Mich., March 06, 2025 (GLOBE NEWSWIRE) — Steelcase Inc. (NYSE: SCS) will webcast a discussion of its fourth quarter and fiscal year 2025 financial results on Thursday, March 27, 2025 at 8:30 a.m. ET. A link to the webcast will be available at http://ir.steelcase.com and a replay of the webcast will be available shortly after the call concludes. The news release detailing the financial results will be issued the previous day, March 26, 2025, after the market closes.
About Steelcase Inc.
Established in 1912, Steelcase is a global design, research and thought leader in the world of work. We help people do their best work by creating places that work better. Along with more than 30 creative and technology partner brands, we design and manufacture innovative furnishings and solutions for the many places where work happens — including learning, health and work from home. Our solutions come to life through our community of expert Steelcase dealers in approximately 770 locations, as well as our online Steelcase store and other retail partners. Founded in Grand Rapids, Michigan, Steelcase is a publicly traded company with fiscal year 2024 revenue of $3.2 billion. With our 11,300 global employees and dealer community, we come together for people and the planet — using our business to help the world work better.
CONTACT:
Investor Contact: Mike O’Meara Investor Relations ir@steelcase.com
New corporate services contract signals continued momentum for ODP Business Solutions in expanding relationships and serving new partners
BOCA RATON, Fla.–(BUSINESS WIRE)–Mar. 6, 2025– ODP Business Solutions, a leading supplier of workplace solutions and services, and a division of The ODP Corporation (NASDAQ: ODP), today announced a Private Sector purchasing contract with CoreTrust. Through this partnership, ODP Business Solutions will offer products and services to CoreTrust’s 3,500+ business member purchasing collective serving major industries including retail, manufacturing, hospitality and finance. This agreement marks the latest in a series of new contracts for ODP Business Solutions, demonstrating the company’s growth into new, fast-growing industries.
This new corporate services contract allows ODP Business Solutions to supply CoreTrust members with high-quality solutions, including interiors/furniture,technology,breakroom supplies, and print, promotion and apparel services at an exceptional value. These categories are expected to expand by a 4-6% compound annual growth rate (CAGR) over the next five years industry-wide, reflecting ODP Business Solutions’ continuing focus on areas where there is substantial growth opportunity.
“CoreTrust has tremendous reach and is known as one of the top aggregators for Fortune 1000 companies, so we are honored to leverage our portfolio of products and solutions, and our global supply chain, as a trusted new CoreTrust supplier,” said David Centrella, executive vice president of The ODP Corporation and president of ODP Business Solutions.
CoreTrust is a market-leading group purchasing organization (GPO) that is trusted by thousands of businesses to leverage its collective purchasing power to secure competitive supplier pricing and more favorable contract terms. With more than $7 billion in annual aggregated spend, CoreTrust members save an average of 20% on indirect spend – far surpassing what they can typically achieve independently.
“We are excited to welcome ODP Business Solutions to CoreTrust’s portfolio of premier suppliers,” said Mahesh Shah, CEO of CoreTrust. “CoreTrust will always strive to help procurement professionals achieve greater savings for their businesses. This partnership strengthens our commitment to being the ‘go-to’ solution for indirect spend needs.”
This contract with CoreTrust represents another growth milestone for ODP Business Solutions, following recent expansions within the hospitality sector with both customers and vendors. These achievements align with the company’s strategic goals of delivering a diverse range of innovative solutions to meet the evolving needs of customers across multiple industries. Similarly, CoreTrust offers its members competitive pricing on a wide array of indirect spend categories, serving a broad spectrum of sectors and categories.
“This partnership is a natural fit and is mutually beneficial for both ODP Business Solutions and CoreTrust. Our operations work very similarly in that we both have a growth mindset to provide our customers and members value not only in the prices and solutions we offer, but by elevating the overall buying experience,” said Nisha Brown, vice president of marketing and product management at ODP Business Solutions.
ODP Business Solutions is a trusted partner with more than 30 years of experience working with businesses to adapt to the ever-changing world of work. From technology transformation, sustainability, innovative workspace design, cleaning and breakroom, and everything in between, ODP Business Solutions has the integrated products and services businesses need. Powered by a collaborative team of experienced business consultants, world-class logistics, and trusted brand names, ODP Business Solutions advances how the working world gets work done. For more information on ODP Business Solutions, visit www.odpbusiness.com.
ODP Business Solutions is a division of The ODP Corporation (NASDAQ: ODP). ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Any other product or company names mentioned herein are the trademarks of their respective owner
About CoreTrust
Since 2006, CoreTrust has been a trusted group purchasing organization (GPO), helping businesses save on indirect spend, private equity firms improve portfolio performance, and suppliers drive growth. With $7 billion in annual purchasing power and a network of 3,500+ members, CoreTrust offers access to 125+ pre-negotiated contracts with top suppliers. Key categories include corporate services, facilities, HR, technology, travel, and supply chain and logistics, delivering efficiency and value to members.
Members enjoy market-leading pricing and exclusive access to the CoreTrust Experience Platform (CXP), a digital marketplace with curated contracts and actionable insights for smarter procurement. Membership is free, offering unmatched savings and simplified solutions for managing indirect spend. Learn more at www.coretrustpg.com.
About The ODP Corporation
The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.
This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, The ODP Corporation (“the Company”), based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “expectations”, “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” “aim” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. There can be no assurances that the Company will realize these expectations or that these beliefs will prove correct, and therefore investors and stakeholders should not place undue reliance on such statements.
Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update or revise any forward-looking statements.
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Twin Hospitality. Significant opportunity remains at Twin Hospitality. The Company ended the year with 115 Twin Peaks lodges, having opened nine new lodges. Twin Hospitality expects to open an additional 9-11 lodges in 2025, with 6-7 franchised and an additional 10-15 lodges in both 2026 and 2027. The Company has over 100 signed franchised commitments and the remaining conversion of approximately 30 Smokey Bones locations to drive new openings.
New Openings. FAT Brands expects to open over 100 new locations in 2025, with 17 already opened year-to-date. We anticipate strong organic growth across the portfolio in 2025. The current development pipeline consists of signed agreements for approximately 1,000 additional locations, including over 250 units signed in 2024. Once these units are opened, we expect them to generate approximately $50 million in incremental annual adjusted EBITDA.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*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.
– Klarna is targeting a $15B+ valuation, pricing expected in April. – IPO may boost tech listings, with Chime and Zilch eyeing debuts. – Klarna refocuses on AI, payments, and potential crypto expansion.
Klarna, a leading player in the buy-now, pay-later (BNPL) sector, is gearing up for a highly anticipated initial public offering (IPO) in the United States. According to sources familiar with the matter, the Swedish fintech company is expected to publicly file for its IPO as soon as next week, aiming to raise at least $1 billion. Klarna’s listing on the New York Stock Exchange (NYSE) is expected to take place in early April, with a target valuation exceeding $15 billion.
This IPO comes at a crucial time for the technology sector, which has seen a slowdown in public listings following a record-breaking surge in 2021. Klarna’s decision to go public could reignite investor interest in fintech IPOs, paving the way for other companies like Chime Financial Inc. and Zilch Technology Ltd. to follow suit later this year. The company confidentially filed for an IPO with the U.S. Securities and Exchange Commission (SEC) in November 2024, and it is now preparing to move forward with the process alongside major underwriters, including Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
Klarna has experienced significant valuation swings in recent years. At its peak in 2021, the company was valued at $45.6 billion. However, following a broader tech downturn, Klarna’s valuation dropped dramatically to $6.7 billion in 2022. Analysts currently estimate its worth at approximately $14.6 billion based on Chrysalis Investments Ltd.’s assessment of its stake in Klarna.
To strengthen its market position and improve financial efficiency ahead of the IPO, Klarna has been restructuring its business operations. The company recently agreed to divest its Checkout payments division for approximately $520 million, while also acquiring Laybuy, a buy-now, pay-later provider in New Zealand. These strategic moves indicate Klarna’s intent to streamline its operations and refocus on its core payments business.
Founded in Stockholm, Sweden, in 2005, Klarna has grown into a global financial technology leader with 85 million customers and 600,000 retail partners. The company’s expansion into the U.K. and U.S. markets has been key to its growth, and its IPO signals a continued push for international dominance.
Klarna is also exploring new revenue streams, including an expansion into the cryptocurrency market. CEO Sebastian Siemiatkowski hinted at this move in February when he posted on social media that Klarna “will embrace crypto.” This potential diversification could attract a new wave of investors interested in both fintech and digital assets.
As Klarna prepares for its public debut, investors will be watching closely to see how the company positions itself in the competitive fintech landscape. With the backing of major institutional investors like Sequoia Capital and a renewed focus on core business operations, Klarna’s IPO could be a significant milestone for the BNPL industry and the broader fintech sector. If successful, this listing could set the tone for other fintech firms eyeing public markets in 2025 and beyond.
Office Depot, Inc., together with its subsidiaries, supplies a range of office products and services. It offers merchandise, such as general office supplies, computer supplies, business machines and related supplies, and office furniture through its chain of office supply stores under the Office Depot, Foray, Ativa, Break Escapes, Worklife, and Christopher Lowell brand names. The company also provides graphic design, printing, reproduction, mailing, shipping, and other services through design, print, and ship centers. It has operations throughout North America, Europe, Asia, and Central America. The company also sells its products and services through direct mail catalogs, contract sales force, Internet sites, and retail stores, through a mix of company-owned operations, joint ventures, licensing and franchise agreements, alliances, and other arrangements. As of December 31, 2008, Office Depot operated 1,267 North American retail division office supply stores and 162 international division retail stores, as well as participated under licensing and merchandise arrangements in 98 stores. The company was founded in 1986 and is based in Boca Raton, Florida.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Macro Headwinds. While macro headwinds remain in the B2B and B2C segments, green shoots are appearing, with new B2B contracts and an expanding pipeline of new business opportunities. Over at retail, the Company has seen improved traction with targeted profitable sales campaigns and value added promotions.
Playing to its Strengths. Project “Optimize for Growth” and the B2B focus plays into ODP’s core strengths, such as robust supply chain assets, distribution capabilities, and an expansive B2B customer base. We believe these moves position ODP to unlock sustainable growth and long-term success.
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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.
New partnership reaffirms ODP Business Solutions’ commitment to the hospitality industry and adjacent categories, fostering a refined guest experience
BOCA RATON, Fla.–(BUSINESS WIRE)–Mar. 3, 2025– ODP Business Solutions, a leading supplier of workplace solutions and services and a division of The ODP Corporation (NASDAQ: ODP), announced today a strategic distribution partnership with Hunter Amenities. ODP Business Solutions will distribute Hunter’s wide range of hotel and guest amenities to hospitality partners, including liquid beauty products, soaps, dry goods and more, all uniquely bundled to accommodate the needs of every client and guest.
“Our partnership with Hunter Amenities demonstrates our commitment to continuing to expand our presence and product offerings in the hospitality industry and other adjacent sectors,” said David Centrella, EVP and president of ODP Business Solutions. “Distributing Hunter Amenities’ premium products further positions ODP Business Solutions to serve as a key-supplier for in-room needs.”
Hunter Amenities is an award-winning global manufacturing company that has been a pioneer in the personal care and hospitality industry for more than four decades. Renowned for its world-class manufacturing facilities that combine artisanal traditions with cutting-edge innovation, the company partners with some of the world’s most prestigious hospitality and retail brands. Hunter Amenities now provides its rich portfolio of high-end personal care products through ODP Business Solutions’ vast network of solutions and service, advancing how the hospitality industry can bring a luxurious, elevated experience to their guests.
“Partnering with ODP Business Solutions as a distribution partner is a natural fit for our company. Their best-in-class distribution capabilities and remarkably agile team give us complete confidence, which is why we’ve gone all in—rolling out our full portfolio within their expansive customer network. This collaboration is a true win-win for both organizations and a game-changer for the entire hospitality industry,” said John Hunter, founder of Hunter Amenities.
Hunter’s extensive product portfolio includes curated shampoo, conditioner, body wash, lotion, and hand wash, along with VIP indulgences such as lip balm, hand cream, eye cream, sleep balm, facial mist, and pillow mist—crafted for discerning travelers who expect nothing but the best.
“Introducing Hunter Amenities to our hospitality distribution services will provide our customers the opportunity to enhance each guest’s stay with custom, high-end offerings that pair seamlessly with ODP Business Solutions’ unparalleled service,” said Nisha Brown, vice president of marketing & product management at ODP Business Solutions. “Hunter is a globally recognized luxury brand that aligns perfectly with our commitment to quality and innovation. We look forward to continuing our growth in the hospitality market and beyond, offering tailored solutions that meet the evolving needs of our clients.”
ODP Business Solutions also delivers high-quality solutions in categories that include technology, professional cleaning and furniture, while expanding into new verticals to better serve the needs of its customers. This partnership announcement follows ODP Business Solutions recent milestone contract with a leading hospitality management company.
To learn more about ODP Business Solutions, visit odpbusiness.com.
About ODP Business Solutions:
ODP Business Solutions is a trusted partner with more than 30 years of experience working with businesses to adapt to the ever-changing world of work. From technology transformation, sustainability, innovative workspace design, cleaning and breakroom, and everything in between, ODP Business Solutions has the integrated products and services businesses need. Powered by a collaborative team of experienced business consultants, world-class logistics and trusted brand names, ODP Business Solutions advances how the working world gets work done. For more information on ODP Business Solutions, visit odpbusiness.com.
ODP Business Solutions is a division of The ODP Corporation (NASDAQ: ODP). ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Any other product or company names mentioned herein are the trademarks of their respective owners.
About Hunter Amenities:
Since 1981, Hunter Amenities has become one of the world’s largest manufacturers and leading formulators of superior personal care guest amenities, servicing hospitality customers in over 100 countries. Our products range from a prominent selection of licensed, internationally recognized designer and cosmetic brands to distinctive luxurious spa hotel amenities and retail collections.
The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.
This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, The ODP Corporation (“the Company”), based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “expectations”, “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” “aim” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. There can be no assurances that the Company will realize these expectations or that these beliefs will prove correct, and therefore investors and stakeholders should not place undue reliance on such statements.
Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update or revise any forward-looking statements.
Kelly (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 350,000 people around the world and connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
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More Integration. As promised, Kelly continues to take steps to integrate the Motion Recruitment Partners offerings with Kelly’s offerings. Kelly announced the formation of an integrated permanent hiring solutions business line resulting from the combination of KellyOCG’s global recruitment process outsourcing (RPO) specialty and MRPs’ talent acquisition solutions brand, Sevenstep. The integrated business creates a leading talent solutions offering that ranks among the top five globally.
Detail. The integrated business will oversee a team supporting 71 countries with 33 in-country teams and 19 global hub locations. Sevenstep brings an industry-leading brand and attractive client base to KellyOCG, expanding its RPO scale and capabilities. We believe the KellyOCG and Sevenstep businesses are highly complementary and will deliver an unmatched breadth of service, a high delivery footprint, and innovative technology offerings to clients.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*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.
