Page 122 – Channelchek

Resources Connection (RGP) – Workforce Reduction Initiated; Confirms 2Q25 Guidance

Posted on December 12, 2024December 12, 2024 by cpereira@noblefcm.com

Thursday, December 12, 2024

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management. In addition, the company offers corporate advisory, strategic communications, and restructuring services; and corporate governance, risk, and compliance management services, such as contract and regulatory compliance, enterprise risk management, internal controls management, and operation and information technology (IT) audits. Further, it provides supply chain management services comprising strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and human capital services, including change management, organization development and effectiveness, compensation and incentive plan strategies, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategies and analytics. It also provides policyIQ, a proprietary cloud-based governance, risk, and compliance software application. The company was formerly known as RC Transaction Corp. and changed its name to Resources Connection, Inc. in August 2000. Resources Connection, Inc. was founded in 1996 and is headquartered in Irvine, California.

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.

Workforce Reduction. We had an opportunity to speak with management about the December 6th 8-k filing in which Resources Connection announced a reduction in the global management and administrative workforce intended to enhance efficiencies through reduced costs and streamlined operations. The RIF impacts about 8% of the management and administrative workforce. Cost savings are expected to range from $4-$5 million in 2H25, or $8-$10 million annually on a go-forward basis. Restructuring charges of $2.5-$3.0 million are expected to be recognized in the third quarter of fiscal 2025.

But Reaffirming 2Q25 Guidance. Management re-confirmed guidance for 2Q25 (ended November 23, 2024). For 2Q25, the Company expects full quarter revenue to be in the range of $135-$140 million and expects gross margin to be in the range of 36% to 37%. The Company’s run rate SG&A for the quarter is expected to be in the range of $48-$50 million.

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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.

Maple Gold Mines (MGMLF) – Thoughts on the Winter 2024/2025 Exploration and Drilling Program

Posted on December 12, 2024December 12, 2024 by cpereira@noblefcm.com

Thursday, December 12, 2024

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

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

NobleCon20 presentation. During Noble’s recent NobleCon20 Annual Emerging Growth Equity Conference, Mr. Kiran Patankar, Maple Gold’s CEO, provided some additional details regarding the company’s upcoming exploration and drilling program. A link to Maple Gold’s NobleCon20 presentation is here. Recall that Maple Gold has a 400 square kilometer district-scale property in Quebec’s Abitibi Greenstone Gold Belt, including gold mineral resources of approximately three million ounces at Douay with significant expansion potential and the past producing Telbel and Eagle West mines at Joutel.

Upcoming drilling program. Maple Gold’s fully funded drilling program is expected to commence shortly and run through March. The company is using a data-driven approach toward exploration that is focused on expanding the company’s gold mineral resource from approximately three million ounces to five million ounces across the combined Douay/Joutel projects, along with making new discoveries. An updated resource estimate and scoping study is expected to be completed within the next 12 to 18 months.

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

Realtors Forecast 6% Mortgage Rates in 2025, Boosting Housing Market Optimism

Posted on December 12, 2024December 12, 2024 by slightbourne@noblecapitalmarkets.com

Key Points
– National Association of Realtors forecasts a 6% average for 30-year fixed-rate mortgages in 2025, boosting housing affordability and demand.
– Housing starts projected at 1.45 million, with single-family units leading growth.
– Median existing home price expected to rise to $410,700, with a 2% annual increase in house prices.

The National Association of Realtors (NAR) has forecasted that the average U.S. 30-year fixed-rate mortgage will drop to around 6% in 2025, bringing much-needed relief to homebuyers and potentially reviving a sluggish housing market. This rate decrease is expected to make homeownership more accessible for many prospective buyers, helping to stimulate both new housing construction and sales of previously owned homes.

According to the NAR’s latest projections, the housing market will see about 4.5 million existing home sales in 2025, a slight improvement over current levels. House prices are anticipated to rise by approximately 2%, with the median price for an existing home reaching $410,700. This price increase aligns with the general trend in the market, but the forecasted decline in mortgage rates could provide relief to homebuyers struggling with affordability challenges.

In particular, the NAR’s prediction that mortgage rates will stabilize around 6% offers hope to those shut out of the market due to the higher rates seen in recent years. With the current mortgage rate hovering near 7%, many prospective homebuyers have been unable to afford median-priced homes. If rates do indeed fall to 6%, approximately 6.2 million households will be able to afford homes at the median price, giving a much-needed boost to the housing market. This is a stark contrast to the present situation where higher rates have made it difficult for many to qualify for loans, especially first-time buyers.

Over the past few years, the housing market has been affected by the Federal Reserve’s aggressive monetary policy tightening, which increased borrowing costs and led to a slowdown in home sales. Additionally, the so-called “rate-lock” effect has worsened the supply crunch. Many homeowners with mortgage rates below 5% have been reluctant to list their homes for sale, fearing they won’t be able to find a similarly low rate on a new home. As a result, the market has faced limited inventory, which has driven up home prices and further strained affordability.

To address the lack of available homes, builders have focused on constructing smaller homes, which have appealed to buyers seeking more affordable options. This has led to an increase in new home sales, which are expected to continue rising in 2025, with the NAR projecting 1.45 million housing starts, the bulk of them for single-family units. These new homes could provide much-needed inventory, helping to ease the supply issues that have plagued the market.

Despite the positive outlook for 2025, challenges remain. While mortgage rates are expected to decline, they are still relatively high compared to historical norms, and inventory levels are unlikely to return to pre-pandemic levels anytime soon. This ongoing supply shortage will continue to place upward pressure on prices, making homeownership more difficult for some buyers. Additionally, the affordability gap between different regions will continue to vary, with some markets remaining out of reach for many potential buyers.

Nonetheless, the prospect of lower mortgage rates has sparked optimism in the housing market. A stabilizing rate at 6% could provide the necessary boost to allow more buyers to enter the market, driving both demand for existing homes and new construction. This change would also give homebuilders more confidence to move forward with projects, further stimulating the economy.

The ongoing reduction in mortgage rates, alongside a resilient economy, could help buyers overcome affordability barriers, especially in more moderately priced markets. As 2025 approaches, all eyes will be on mortgage rates and the broader housing market to see if these predictions hold true and bring about a much-needed shift toward recovery.

CPI Data Confirms Fed’s December Rate Cut Path

Posted on December 12, 2024December 12, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Consumer Price Index (CPI) rose 2.7% year-over-year in November, meeting economist expectations.
– Core inflation remains elevated at 3.3% annually, driven by higher shelter and service costs.
– Markets now strongly anticipate a 25-basis-point Federal Reserve rate cut in December.

The Bureau of Labor Statistics released November inflation data on Wednesday, showing consumer prices increased 2.7% year-over-year. This uptick from October’s 2.6% rise aligns with economist projections and solidifies expectations for the Federal Reserve to lower interest rates at its December meeting.

On a monthly basis, the CPI increased by 0.3%, the largest gain since April. Core inflation, excluding volatile food and energy prices, also rose 0.3% month-over-month and 3.3% annually for the fourth consecutive month. Sticky inflation in core components such as shelter and services continues to challenge the Federal Reserve’s goal of achieving a 2% inflation target.

Paul Ashworth, Chief North America Economist at Capital Economics, commented on the persistence of core inflation, noting that it remains a concern but is unlikely to derail the anticipated rate cut. “We don’t expect it to persuade the Fed to skip another 25bp rate cut at next week’s FOMC meeting,” he stated.

Shelter Inflation Moderates, Food Costs Persist

Shelter inflation contributed nearly 40% of the monthly CPI increase, though the annual gain of 4.7% marked a deceleration from October’s 4.9%. Both rent and owners’ equivalent rent showed their smallest monthly increases since mid-2021, suggesting potential relief in housing costs.

Meanwhile, food prices remain a sticky category for inflation. The food index rose 0.4% month-over-month, with notable increases in categories like eggs, which surged 8.2% in November after declining in October. Energy prices also edged higher, rising 0.2% month-over-month, while apparel and personal care costs saw noticeable gains.

Market and Policy Implications

Financial markets reacted positively to the CPI report, as fears of an upside surprise were unfounded. The odds of a 25-basis-point rate cut at the Fed’s December meeting increased to 97% following the release. However, economists remain cautious about potential inflationary pressures stemming from President-elect Donald Trump’s proposed policies, including tariffs and corporate tax cuts.

Seema Shah, Chief Global Strategist at Principal Asset Management, noted the Federal Reserve’s likely shift toward a more cautious approach after December. “We expect the Fed to move off autopilot in January, adopting a more cautious tone, and slowing its pace of cuts to just every other meeting,” Shah said.

As inflation trends remain in focus, the Federal Reserve’s decisions in the coming months will be critical in shaping the economic outlook for 2025.

Vince Holding Corp. (VNCE) – Q3 Is Illustrative Of Its Improving Margin Story

Posted on December 11, 2024December 11, 2024 by cpereira@noblefcm.com

Wednesday, December 11, 2024

500 5th Avenue 20th Floor New York, NY 10110 United States Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 599 Key Executives Name Title Pay Exercised Year Born Mr. Jonathan CEO & Director 825.62k N/A 1958 Ms. Marie Fogel Senior VP and Chief Merchandising & Manufacturing Officer 633.19k N/A 1961 Mr. John Chief Financial Officer

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

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

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

Q3 Results. The company reported Q3 revenue of $80.2 million, which was in line with our estimate of $81.5 million. Notably, gross margin improved by 580 basis points from the prior year period. We believe the solid results demonstrate the efficacy of the company’s initiatives to enhance its expense structure and improve gross margin.

Improved gross margin. The company’s strong gross margin improvement was largely driven by a 480bp improvement in product costs and reduced freight costs, with an 80bp contribution from lower promotional activity and discounting in its Direct To Consumer (DTC) segment.

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

V2X (VVX) – A New JV

Posted on December 11, 2024December 11, 2024 by cpereira@noblefcm.com

Wednesday, December 11, 2024

For more than 70 years, Vectrus has provided critical mission support for our customers’ toughest operational challenges. As a high-performing organization with exceptional talent, deep domain knowledge, a history of long-term customer relationships, and groundbreaking technical expertise, we deliver innovative, mission-matched solutions for our military and government customers worldwide. Whether it’s base operations support, supply chain and logistics, IT mission support, engineering and digital integration, security, or maintenance, repair and overhaul, our customers count on us for on-target solutions that increase efficiency, reduce costs, improve readiness, and strengthen national security. Vectrus is headquartered in Colorado Springs, Colo., and includes about 8,100 employees spanning 205 locations in 28 countries. In 2021, Vectrus generated sales of $1.8 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.

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.

JV. Yesterday, V2X, Inc. announced a strategic joint venture with Parsons Corporation (NYSE: PSN) in pursuit of the National Science Foundation Antarctica Science and Engineering Support Contract (ASESC) with an $8 billion ceiling value. The newly formed joint venture, named Polar Science Alliance (PSA), is a wholly dedicated entity that will enable world class scientific research support services for the United States Antarctic Program (USAP) over the next two decades.

Strengths. V2X brings over a decade of experience in large-scale polar operations and logistics expertise and was recently awarded the follow-on option for a ten year period supporting the multibillion-dollar U.S. Space Force, Pituffik Space Base in Greenland. V2X boasts decades of expertise in science support services. Parsons has 55 years of successful and proven polar operations experience, beginning in 1970 on the North Slope of Alaska. Parsons’ capabilities span program and construction management, engineering and planning, and logistics.

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

Great Lakes Dredge & Dock (GLDD) – NobleCon20 Highlights

Posted on December 11, 2024December 11, 2024 by cpereira@noblefcm.com

Wednesday, December 11, 2024

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

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.

NobleCon20. Great Lakes CFO Scott Kornblau presented at NobleCon20. Highlights included the strong dredging market, expanding into the offshore wind market in the U.S., and having a record backlog. A rebroadcast is available at https://www.channelchek.com/videos/great-lakes-dredge-dock-corporation-noblecon20-replay.

Dredging Market. The outlook for the dredging market remains robust, in our view. The Army Corps of Engineers budget in fiscal 2024 was a record $8.7 billion, a record that likely will be surpassed in fiscal 2025 as both the House and Senate appropriations committees submitted proposed fiscal 2025 budgets with Army Corp funding at or above the $10 billion level. We expect Great Lakes’ bid opportunity pipeline to remain strong, leading towards potential backlog and revenue growth.

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

FAT Brands (FAT) – Highlights from NobleCon20

Posted on December 11, 2024December 11, 2024 by cpereira@noblefcm.com

Wednesday, December 11, 2024

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.

NobleCon20. FAT Brands Chairman Andy Wiederhorn presented at NobleCon20. Highlights included FAT Brands’ acquisition strategy, Twin Peaks spin-off, and focus for 2025. A rebroadcast is available at https://www.channelchek.com/videos/fat-brands-inc-noblecon20-replay

Acquisition Strategy. Management noted the Company utilizes a near-term focus on brands that will accelerate growth for its Twin Peaks brand as well as drive revenue and profit at its cookie and pretzel factory. Smokey Bones is an example of accelerating Twin Peaks growth as select Smokey Bones are being converted into Twin Peaks due to having a similar format, providing more efficient conversions. The Nestle Toll House Café by Chip acquisition drove unit growth of Great American Cookies while also getting cookie dough business for its manufacturing facility.

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

Candel Therapeutics Stock Skyrockets 172% After Promising Phase III Prostate Cancer Trial Results

Posted on December 11, 2024December 11, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Candel Therapeutics’ stock surged 172% after its Phase III trial of CAN-2409 for localized prostate cancer met its primary endpoint.
– The trial showed a 14.5% relative improvement in disease-free survival compared to placebo, with promising long-term results.
– The company plans to use Phase III data to seek regulatory approval from the FDA for CAN-2409.

Candel Therapeutics (CADL) has seen its stock price surge by 172% following the announcement of positive results from its Phase III clinical trial of CAN-2409, a viral immunotherapy designed for localized prostate cancer. This breakthrough was announced on December 11, 2024, signaling the potential of CAN-2409 as a new treatment option for patients battling prostate cancer.

The Phase III trial, conducted under a Special Protocol Assessment (SPA) with the U.S. Food and Drug Administration (FDA), tested CAN-2409 in combination with radiation therapy and the antiviral drug valacyclovir. The trial showed a statistically significant improvement in disease-free survival, with patients experiencing a 14.5% relative increase in survival compared to the placebo group after 54 months of observation. These results demonstrate the treatment’s ability to improve long-term outcomes for prostate cancer patients.

In addition to the survival benefit, the study also found an increased proportion of patients achieving a prostate-specific antigen (PSA) level associated with remission, further supporting CAN-2409’s potential as a promising treatment. The therapy works by stimulating the immune system to attack prostate cancer cells, offering a novel approach compared to traditional treatments, which often rely on chemotherapy or radiation alone. Importantly, the treatment demonstrated no new safety concerns, with a safety profile similar to that of existing therapies.

The company’s CEO, Paul Peter Tak, expressed confidence in the results, emphasizing that the Phase III trial validated earlier observations of CAN-2409’s effectiveness in hard-to-treat tumors. Tak noted that the study’s design, agreed upon by the FDA, could allow Candel to seek regulatory approval for CAN-2409 as a treatment for localized prostate cancer.

Dr. Glen Gejerman, the principal investigator of the study, highlighted the clinical significance of the results, noting that the improvement in disease-free survival could mark a major advancement in prostate cancer care. Gejerman also pointed out that CAN-2409 offers a treatment option without introducing substantial toxicity, which is a key concern for many prostate cancer therapies.

Candel Therapeutics now plans to use the data from this Phase III trial to advance its marketing application to the FDA. If approved, CAN-2409 could provide a much-needed treatment alternative for patients with localized prostate cancer, transforming the current treatment paradigm.

This success positions Candel as a leader in the prostate cancer space, with investors reacting positively to the trial’s results. The company’s stock price has risen significantly, reflecting growing confidence in its future prospects.

Candel’s success comes at a time when other companies in the prostate cancer field, such as Arvinas and Pfizer, are also advancing their own treatments. However, the dramatic stock increase following the Phase III results highlights the excitement surrounding CAN-2409 and its potential to change the landscape of prostate cancer treatment.

As the company moves toward FDA approval, the oncology community will be watching closely. If successful, CAN-2409 could become a game-changing option for prostate cancer patients, offering new hope and a more effective treatment strategy.

Google Stock Surges Following Quantum Computing Breakthrough

Posted on December 11, 2024December 11, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Google’s Willow chip solves complex equations in minutes, outperforming classical supercomputers by billions of years.
– The breakthrough reduces error rates in quantum systems, a major step toward practical applications in cybersecurity, energy, and medicine.
– Alphabet stock is up 30% year-to-date, with a 4% jump following the announcement of Willow.

Google’s stock (GOOG) surged 4% on Tuesday following the announcement of its new quantum computing chip, Willow. The groundbreaking chip, revealed Monday, promises to revolutionize computing by outperforming traditional systems on an unprecedented scale. According to Google, Willow can solve complex equations in just five minutes—calculations that would take a classical supercomputer longer than the history of the universe to complete.

Quantum computing represents a major technological leap, relying on qubits instead of the binary bits used in classical systems. Unlike bits, which can only represent a 0 or a 1, qubits can exist in both states simultaneously. This characteristic enables quantum computers to process vastly more data at once, making them ideal for solving problems that conventional computers cannot.

However, the potential of quantum computing has been hampered by significant challenges. Qubits are prone to errors, which increase as the number of qubits used grows. Google’s Willow chip addresses these challenges, reducing error rates while increasing the number of operational qubits. This advancement brings the industry closer to achieving practical applications for quantum computing.

Google’s announcement not only reaffirms its leadership in the quantum computing race but also highlights its competition. Industry giants like IBM, Microsoft, and Amazon have invested heavily in quantum technology, each vying to lead in the next wave of computing. IBM has been working on quantum systems since the 1980s, while Amazon and Microsoft are integrating quantum capabilities into their cloud platforms.

The potential applications of quantum computing are vast, spanning industries such as healthcare, energy, and cybersecurity. Quantum systems could accelerate drug discovery, develop new renewable energy technologies, and create more robust cybersecurity measures. While these applications remain largely theoretical, Google’s advancements with Willow mark significant progress toward turning them into reality.

The unveiling of Willow has had a tangible impact on investor sentiment. Alphabet’s stock rose as much as 6% early Tuesday before stabilizing at a 4% gain, contributing to a 30% year-to-date increase in the stock. This growth reflects investor confidence in Google’s ability to stay at the forefront of innovation.

Governments worldwide are also ramping up investments in quantum computing. The U.S. has pledged billions of dollars toward research through initiatives like the CHIPS and Science Act. Most recently, bipartisan senators introduced legislation to allocate an additional $2.7 billion to support quantum computing projects. Meanwhile, China leads global spending, investing over $15 billion in quantum research.

Despite the optimism, experts predict fully fault-tolerant quantum computers—systems ready for widespread practical use—may not emerge until after 2035. However, companies like Google are betting on a faster timeline. Willow’s launch demonstrates that the race to quantum supremacy is not just theoretical but an active competition with transformative stakes.

As Google continues to push boundaries with Willow, the company’s leadership in quantum computing solidifies its reputation as an innovation powerhouse. This milestone not only positions Google at the cutting edge of technology but also strengthens its standing in the global race to unlock the full potential of quantum computing.

Gen Digital to Acquire MoneyLion, Expanding into Financial Wellness

Posted on December 10, 2024December 10, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Strategic Expansion: Gen Digital is acquiring MoneyLion for $1 billion, extending its services to include financial wellness alongside cybersecurity and identity protection.
– Enhanced Capabilities: The acquisition brings MoneyLion’s 18 million customers and its innovative financial tools into Gen’s ecosystem, offering a seamless blend of fintech and digital security solutions.
– Future Impact: The deal aligns with Gen’s fiscal goals and reinforces its commitment to empowering consumers to manage, grow, and secure their digital and financial lives.

Gen Digital Inc. (NASDAQ: GEN), a global leader in digital safety and privacy solutions, announced a landmark agreement to acquire MoneyLion Inc. (NYSE: ML), a prominent financial technology platform. The acquisition is valued at approximately $1 billion and marks a strategic expansion of Gen’s offerings to include tools for financial wellness alongside its existing suite of cybersecurity and identity protection services.

With this acquisition, Gen extends its mission of empowering consumers to protect, manage, and grow their digital and financial lives. MoneyLion, known for its innovative digital ecosystem, delivers a comprehensive suite of personal finance tools, including credit-building services, financial management features, and a curated marketplace of financial solutions. By integrating MoneyLion into its portfolio, Gen strengthens its position as a provider of holistic digital and financial empowerment.

Vincent Pilette, CEO of Gen Digital, highlighted the significance of the acquisition, stating, “Gen is committed to protecting people’s privacy, identity, and financial assets so they can live their digital lives securely. By bringing MoneyLion into the Gen family, we’re not only safeguarding what people already have, but also enabling them to better manage and grow their wealth.”

MoneyLion’s platform, with over 18 million customers, enhances Gen’s consumer base while introducing new capabilities, such as its AI-driven recommendation engine, which can be leveraged across Gen’s existing offerings. The acquisition also enables Gen to provide its global audience with access to MoneyLion’s robust financial tools, merging innovative fintech solutions with trusted cybersecurity services.

Dee Choubey, Co-Founder and CEO of MoneyLion, expressed enthusiasm for the partnership, emphasizing the alignment of both companies’ missions. “MoneyLion has built a platform that empowers people to take control of their financial futures with confidence. Joining Gen accelerates our vision by leveraging their global reach and trusted brands. Together, we’re creating unmatched value for consumers, empowering smarter financial decisions while securing their digital and financial lives.”

The transaction involves an all-cash offer of $82 per share for MoneyLion shareholders, alongside contingent value rights (CVRs) linked to Gen’s stock performance. Shareholders may receive additional payments of $23 per share if specific stock price targets are achieved within a defined period post-acquisition. While the deal has been unanimously approved by the boards of both companies, it is subject to regulatory approvals and is expected to close in the first half of Gen’s fiscal year 2026.

Gen confirmed that the acquisition aligns with its financial strategy and will not impact its fiscal year 2025 guidance. The company remains committed to maintaining a net leverage ratio below 3x EBITDA by FY27 and expects the acquisition to contribute positively to its adjusted earnings per share.

The acquisition underscores Gen’s commitment to delivering cutting-edge solutions that address the interconnected nature of digital and financial security. By integrating MoneyLion’s capabilities, Gen is poised to redefine how consumers navigate their digital and financial lives with confidence and security.

Release – V2X and Parsons Establish Joint Venture to Pursue National Science Foundation Antarctica Contract

Posted on December 10, 2024December 10, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on VVX

RESTON, Va., Dec. 10, 2024 /PRNewswire/ — V2X Inc., (NYSE: VVX) is pleased to announce a strategic joint venture with Parsons Corporation (NYSE: PSN) in pursuit of the National Science Foundation Antarctica Science and Engineering Support Contract (ASESC) with an $8 billion ceiling value. The newly formed joint venture, named Polar Science Alliance (PSA), is a wholly dedicated entity which will enable world class scientific research support services for the United States Antarctic Program (USAP) over the next two decades.

For over six decades, the National Science Foundation (NSF) has maintained a vital U.S. presence in Antarctica, conducting extensive research on the continent and its ecosystems. The NSF’s endeavors seek to comprehend Antarctica’s influence on global processes like climate change and leverage the unique features of the region for scientific studies that are unparalleled elsewhere. Under the ASESC, the NSF oversees all U.S. scientific research activities and logistical operations in Antarctica and aboard vessels in the Southern Ocean through the USAP, which stands as one of the largest scientific research programs in the Antarctic region.

“V2X and Parsons have united to form a powerhouse team equipped to provide unmatched support to the NSF and support the USAP in its scientific research initiatives in Antarctica,” said Ken Shreves, Senior Vice President of Mission Support at V2X. “With work from the Arctic U.S. Space Force base to the West-central Pacific Ocean U.S. Army Kwajalein Atoll, V2X is the top tier mission critical support services provider of choice for any geographical and geopolitical environment in the world.”

V2X brings over a decade of experience in large-scale polar operations and logistics expertise and was recently awarded the follow-on option ten year period, supporting the multibillion-dollar U.S. Space Force, Pituffik Space Base in Greenland. V2X boasts decades of expertise in science support services. Leveraging industry-leading best practices and insights gleaned from a diverse portfolio of global programs in remote, challenging, and austere environments, V2X maximizes operational efficiency across all phases of mission execution, catering to the needs of government clients globally for the past 80 years.

“PSA stands ready to bring the experience and resources of its parent companies, Parsons and V2X, to the world-class United States Antarctic Program,” added Jon Moretta, President, Engineered Systems for Parsons. “Parsons brings years of experience in polar operations to this joint venture, including work as the modernization designer and builder on the Antarctica Infrastructure Modernization for Science Project. We’re proud to team with V2X for the opportunity to be NSF’s USAP support services partner in enabling the world-class Antarctic science program.”

Parsons is a leader in providing the federal government with solutions to the most complex infrastructure challenges. Parsons has 55 years of successful and proven polar operations experience beginning in 1970 on the North Slope of Alaska. The company’s capabilities span program and construction management, engineering and planning, and logistics. As a global solutions provider, Parsons works in all environments, including the freezing temperatures and volcanic rock of Antarctica. The company uses technological innovation and harnesses the potential of artificial intelligence to empower smarter decision-making, drive efficiency, and support clients worldwide across infrastructure, the environment, and national security.

The Polar Science Alliance collectively brings world class capabilities in global logistics, operations and engineering coupled with over 100 years science and research support experience. To learn more about Polar Science Alliance, visit www.polarsciencealliance.com. To learn more about Parsons’ federal infrastructure solutions, visit www.parsons.com/federal-infrastructure/. To learn more about V2X and its capabilities, please visit www.goV2X.com.

About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.

About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

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Angelica Spanos Deoudes
Senior Director, Marketing and Communications
Angelica.Deoudes@goV2X.com
571-338-5195

Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
IR@goV2X.com
719-637-5773

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SOURCE V2X, Inc.

NN, Inc. (NNBR) – Presentation Highlights from NobleCon20

Posted on December 10, 2024December 10, 2024 by cpereira@noblefcm.com

Tuesday, December 10, 2024

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.

NobleCon20. NN CFO Chris Bohnert presented at NobleCon20. Highlights included tariffs being a benefit to the Company, NN’s transformation plan, and its five-year growth plan. A rebroadcast is available at https://www.channelchek.com/videos/nn-inc-noblecon20-replay.

Tariffs Good for NN? The Trump administration is seeking protection for U.S. based production through the use of tariffs, potentially increasing costs for companies. However, NN has roughly $120 million of tariff-protected U.S.-produced auto parts and does not import from China. For its China operations, the Company produces auto parts in China for use in the local market there. As a result, we believe the Company can protect its margins through not paying tariffs and can potentially have pricing power over parts produced in the U.S. compared to other companies that import.

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