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Release – GeoVax Announces Major Gedeptin® Milestone with Plans of Phase 2 Trial

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GOVX

Represents a Key Step Toward Validating Gedeptin Potential in Solid Tumor Therapy

Atlanta, GA, January 15, 2025 – GeoVax Labs, Inc. (Nasdaq: GOVX), a clinical-stage biotechnology company developing innovative immunotherapies and vaccines for cancer and infectious diseases, announced significant progress in advancing Gedeptin as a cancer therapy. Gedeptin, based on a Gene-Directed Enzyme Prodrug Therapy (GDEPT) platform, employs a targeted approach to deliver therapeutic agents directly to tumor sites. The result of this approach is the localized production of a potent anti-cancer agent(s) within the tumor microenvironment, while minimizing systemic exposure and the potential for associated side effects. 

Following a review of the data from the completed Phase 1 single-cycle and Phase 1/2 multi-cycle Gedeptin trials among patients with advanced Head & Neck (H&N) tumors, GeoVax has decided to initiate a Phase 2 clinical study, evaluating neoadjuvant Gedeptin therapy in combination with an approved immune check point inhibitor (ICI) in 1st recurrent H&N cancer scheduled for resection with curative intent.

Therapy Potential and Market Opportunity

Gedeptin has been granted Orphan Drug Designation by the U.S. FDA for the intratumoral treatment of anatomically accessible oral and pharyngeal cancers, underscoring its potential to address significant unmet medical needs.

“Preclinical data suggest that Gedeptin/fludarabine can enhance the activity of ICIs in treatment of solid tumors.  Our upcoming Phase 2 trial will investigate this approach as a neoadjuvant therapy for patients with first recurrence head and neck cancer. We believe this will lead to increased tumor response and decreased recurrence rates in these patients,” said David Dodd, Chairman and CEO of GeoVax. “Based on the data generated to date, this combination has the potential to address multiple solid tumor indications, and represents a significant medical and commercial opportunity, if approved.”

David Dodd added, “We are entering an exciting phase of clinical development with Gedeptin, and our team remains committed to advancing this innovative therapy to deliver life-changing benefits for cancer patients worldwide.”

Advancing Clinical Development

The upcoming Phase 2 trial will evaluate the efficacy of Gedeptin in combination with ICIs in patients with first-recurrence head and neck cancer. Key endpoints will include pathologic response rates and overall treatment outcomes. GeoVax plans to initiate trial activities mid-year and partner with leading academic oncology centers.

A Transformative Year Ahead

GeoVax projects significant milestones in 2025, with Gedeptin expected to play a key role in delivering transformative cancer therapies. Beyond head and neck cancers, the company plans to explore Gedeptin’s potential applications across other solid tumor types.

GeoVax’s CEO, David Dodd, will present the Company’s 2024 progress and outlook for 2025 at the Emerging Growth Conference: January 16, 2025, at 2:35 PM ET.

For more information on GeoVax’s portfolio and developments, please visit www.geovax.com.

About GeoVax

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel vaccines for many of the world’s most threatening infectious diseases and therapies for solid tumor cancers. The company’s lead clinical program is GEO-CM04S1, a next-generation COVID-19 vaccine for which GeoVax was recently awarded a BARDA-funded contract to sponsor a 10,000-participant Phase 2b clinical trial to evaluate the efficacy of GEO-CM04S1 versus an approved COVID-19 vaccine. In addition, GEO-CM04S1 is currently in three Phase 2 clinical trials, being evaluated as (1) a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, (2) a booster vaccine in patients with chronic lymphocytic leukemia (CLL) and (3) a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. In oncology the lead clinical program is evaluating a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, having recently completed a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. A Phase 2 clinical trial in first recurrent head and neck cancer, evaluating Gedeptin combined with an immune checkpoint inhibitor is planned to initiate during the first half of 2025. GeoVax has a strong IP portfolio in support of its technologies and product candidates, holding worldwide rights for its technologies and products. The Company has a leadership team who have driven significant value creation across multiple life science companies over the past several decades. For more information about the current status of our clinical trials and other updates, visit our website: www.geovax.com.

Forward-Looking Statements

This release contains forward-looking statements regarding GeoVax’s business plans. The words “believe,” “look forward to,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax is able to obtain acceptable results from ongoing or future clinical trials of its investigational products, GeoVax’s immuno-oncology products and preventative vaccines can provoke the desired responses, and those products or vaccines can be used effectively, GeoVax’s viral vector technology adequately amplifies immune responses to cancer antigens, GeoVax can develop and manufacture its immuno-oncology products and preventative vaccines with the desired characteristics in a timely manner, GeoVax’s immuno-oncology products and preventative vaccines will be safe for human use, GeoVax’s vaccines will effectively prevent targeted infections in humans, GeoVax’s immuno-oncology products and preventative vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete development, there is development of competitive products that may be more effective or easier to use than GeoVax’s products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control.

Further information on our risk factors is contained in our periodic reports on Form 10-Q and Form 10-K that we have filed and will file with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. 

Company Contact:                         Investor Relations Contact:                     Media Contact:
info@geovax.com austin.murtagh@precisionaq.com sr@roberts-communications.com 
678-384-7220 212-698-8696 202-779-0929

Release – SKYX Announces that it Will Begin Supplying its Products to 140 Commercial Units in January 2025

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SKYX

As SKYX Continues to Grow its Market Penetration, it is Expected to Supply Developer Jeremiah Baron Companies Products to a Total of 1000 Mixed-Use Residential and Commercial Units

The Products that are Expected to be Supplied to the Mixed-Use Project will include Ceiling Outlet Receptacles, Smart Plug & Play Platform Products including Lighting, Ceiling Fans, Recessed Lights, EXIT Signs, Emergency Lights, Down Lights, and Indoor and Outdoor Wall Lights

MIAMI, Jan. 15, 2025 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive smart platform technology company with more than 97 issued and pending patents globally and over 60 lighting and home décor websites, announces that it will start supplying its products to developer Jeremiah Baron Companies for 140 commercial units representing the initial rollout of overall projects.

During the course of the projects, SKYX is expected to deliver tens of thousands of its products, representing a variety of its advanced and smart platform technology plug & play products. Delivery is expected to start in January 2025 and to continue throughout the construction of the developments in the state of Florida.

Rani Kohen, Founder/Inventor and Executive Chairman, of SKYX Platforms, said: “This is another step towards our goal of making homes and buildings become advanced, safe, and smart as the new standard. We are eager to continue to demonstrate our advanced smart platform technology’s ability to instantly make homes and buildings become advanced, safe, and smart.”

Jeremiah Baron, CEO and Founder of Jeremiah Baron Companies, said: “We are looking forward to developing and providing safe, smart, and advanced residential and commercial projects utilizing SKYX’s game changing technologies. This enables us to create substantial added value to our homes and buildings as well as for our customers, while realizing significant cost and time savings.” About Jeremiah Baron, click here: https://jeremiahbaroncompanies.com

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:

Jeff Ramson

PCG Advisory

jramson@pcgadvisory.com

Release – Alaska Awards $92 Million Contract to Conduent to Enhance Medicaid Program Delivery Systems

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CNDT

January 15, 2025

Healthcare Services Government

Company to continue to partner on the state’s Medicaid Management Information System to better serve providers and residents

FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, today announced a $92 million contract with the Alaska Department of Health, Division of Health Care Services (HCS). Under this agreement, Conduent will operate and manage the state’s Medicaid Management Information System (MMIS) as well as modernize the system.

Conduent has been a trusted partner to HCS since 2007 when it was first selected to deliver Medicaid Enterprise Systems technology solutions to the state of Alaska. The company will continue to manage essential services to support the state’s MMIS modernization goals, streamline business processes, enhance efficiency and create better access to health services for over 260,000 Medicaid-eligible residents.

Conduent will also provide technological innovations that enhance the state’s ability to improve the quality of health care, including enabling the system to process behavioral health claims to ensure recipients receive holistic healthcare and providers are paid timely and accurately.

“We are honored to continue our partnership with the Alaska Division of Health Care Services, and we share in their commitment to improving the health and well-being of its residents,” said Anna Sever, President, Government Solutions at Conduent. “Our top priority is to implement modern technology that enables the state’s Medicaid program operations to support high-quality payments to providers and seamless access for residents.”

Conduent supports approximately 100 million U.S. residents across various government health programs, helping state and federal agencies deliver critical services while reducing costs, increasing program participation and improving compliance.

For more than 42 years, Conduent has provided a range of government solutions, including Medicaid Enterprise Systems technology and services, as well as eligibility, critical payment disbursement and child support solutions. Visit Conduent Government Solutions to learn more.

About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 55,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives, and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

Media Contacts

Neil Franz

Conduent

neil.franz@conduent.com

+1-240-687-0127

Giles Goodburn

Conduent

ir@conduent.com

+1-203-216-3546

NN, Inc. (NNBR) – Another Year of Record-Setting New Business Wins

Posted on by cpereira@noblefcm.com


Wednesday, January 15, 2025

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 Business Wins. NN reported full-year 2024 new business wins of $73 million, exceeding the high end of the Company’s guidance. This is the second consecutive year of record annualized new business wins, up from the previous record of $63 million in 2023. The new wins were in key focus areas such as vehicle control, energy efficiency, electrical grid components, and medical components.

Driving to the Five-Year Goal. With another record year of new business wins, NN remains on track to meet its five-year goal of $325 million in new business wins, which will, in turn, be a key driver in the Company’s organic growth to $600 million in sales. Notably, we expect management to also seek inorganic growth opportunities, especially in the medical and electrical segments, to drive the five-year revenue goal even higher.


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Yields Ease, Markets Steady as Investors Await Key Inflation Data

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– U.S. Treasury yields declined slightly after lower-than-expected December producer price index (PPI) data.
– Stock markets showed minimal movement as focus remained on upcoming consumer price index (CPI) data and policy uncertainty tied to President-elect Donald Trump.
– Oil prices fell from recent highs, while the dollar index softened.

Treasury yields in the United States edged down on Tuesday following a report showing that producer prices increased just 0.2% month-on-month in December, underperforming the expected 0.3% rise. This marks a slowdown from November’s 0.4% gain. While the PPI data eased immediate inflation concerns, market attention remains fixed on the consumer price index (CPI) report due on Wednesday.

CPI figures are anticipated to reveal consistent monthly inflation at 0.3% for December, with an annual increase to 2.9%, up from 2.7% in November. Market sentiment has been shaped by fears of persistent inflation, amplified by uncertainty surrounding President-elect Trump’s proposed trade and tax policies. Speculation about tariffs ranging from 2% to 5% monthly has added to concerns about potential inflationary pressures.

Market Performance
Stock market activity was muted as traders digested the PPI data. The Dow Jones Industrial Average added 0.10%, closing at 42,339.90, while the S&P 500 and Nasdaq Composite slipped 0.15% and 0.21%, respectively. The Russell 2000 index, a key indicator for smaller U.S. companies, has seen a decline of roughly 11% since its peak in November.

Internationally, MSCI’s global stock index inched up by 0.14%, while Europe’s STOXX 600 index dipped by 0.11%. With U.S. corporate earnings season kicking off, major banks are expected to report strong quarterly results, driven by increased dealmaking and trading activities.

Treasury Yields and Dollar Movement
The yield on the 10-year Treasury note eased slightly to 4.790%, staying close to its recent 14-month high of 4.805%. Higher yields have weighed on equities, as they make bonds more attractive and raise borrowing costs for companies.

In currency markets, the dollar index fell by 0.1% to 109.31. The euro gained 0.46% to $1.0292, while the dollar strengthened against the yen, rising 0.25% to 157.87.

Oil and Asian Markets
Oil prices retreated after reaching multi-month highs earlier this week. U.S. crude dropped 1.23% to $77.84 per barrel, while Brent crude declined 0.93% to $80.27 per barrel. In Asia, Japan’s Nikkei index fell 1.8%, dragged down by chip stocks and speculation about a potential interest rate hike by the Bank of Japan (BoJ). Deputy Governor Ryozo Himino hinted at a possible rate increase during the central bank’s next policy meeting on January 24, adding to market uncertainty.

With inflation and policy concerns dominating the narrative, investors are likely to remain cautious. The upcoming CPI data and the direction of Trump’s economic agenda are poised to play pivotal roles in shaping market sentiment in the coming weeks.

Release – Kratos Welcomes Ranking Member Adam Smith to Glen Burnie, Maryland Facility

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KTOS

Representative Smith Briefed on Kratos Erinyes, Dark Fury, Zeus and Other Kratos Hypersonic Systems

SAN DIEGO, Jan. 14, 2025 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, recently welcomed House Armed Services Ranking Member Adam Smith (D-WA-9) to Kratos Defense & Rocket Support Services (DRSS) in Glen Burnie, Maryland. The visit provided an opportunity to showcase Kratos’ latest achievements in advancing hypersonic systems, strategic systems, ballistic missile targets, sub-orbital research vehicles, sounding rockets, directed energy and laser systems, and to discuss recent successes delivering mission-critical, cost-effective solutions to support U.S. national security.

During the visit, Rep. Smith was briefed on Kratos’ cutting-edge hypersonic programs, including the low cost Erinyes Hypersonic Flyer, Dark Fury, Zeus Solid Rocket Motors, and other Kratos systems and technologies, all of which exemplify the company’s commitment to affordability, being first-to-market, and innovation. The discussion also highlighted Kratos’ recent award of the Multi-Service Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0 contract, under which Kratos was selected as the prime for Task Area 1 Systems Engineering, Integration, and Testing (SEIT). This effort includes integrated subscale, full-scale, and air launch systems and services designed to affordably increase hypersonic flight test cadence, a critical need for advancing the nation’s defense capabilities.

“Kratos believes in delivering more for less and is proud to showcase our systems that are pushing the boundaries of hypersonic technology testing to accelerate delivery of low-cost, high-performance solutions to the warfighter,” said Dave Carter, President of Kratos’ Defense & Rocket Support Services Division. “The MACH-TB 2.0 contract is a testament to our leadership and dedication to addressing the Department of Defense’s needs for rapid, reliable, and scalable hypersonic testing and development.”

Rep. Smith’s visit underscores the importance of collaboration between industry and government in advancing technologies critical to national security. Kratos remains steadfast in its mission to deliver affordable, innovative solutions to support the warfighter and strengthen the nation’s defense posture.

Eric DeMarco, Kratos President and CEO, said, “Kratos employees were thrilled to have the opportunity to meet and spend time with Ranking Member Smith, who we believe shares Kratos’ philosophy of “delivering more and better systems for less”. I was also particularly pleased to spend time discussing with the Representative Kratos’ now multi-year strategy and philosophy of investing Kratos’ own research, development and innovation focused funds, to deliver affordable, hypersonic, tactical jet drone, jet engine and other relevant systems to the warfighter.”

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Burghoff
claire.burghoff@kratosdefense.com

Investor Information:
877-934-4687
investor@kratosdefense.com

Primary Logo

Source: Kratos Defense & Security Solutions, Inc.

Release – NN, Inc. Announces Second Consecutive Year of Record-Setting New Business Wins

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on NNBR

New business awards of $73 million in 2024, bringing two-year total to $136 million

CHARLOTTE, N.C., Jan. 14, 2025 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today announced the results of its new business wins program for the year ended December 31, 2024.

Highlights:

  • Full-year 2024 new business wins were $73 million, exceeding the high end of the Company’s guidance range
  • Record amount of annualized new business wins results for the second consecutive year
  • 2024 new business wins were $73 million, 2023 new business wins were $63 million, 2022 new business wins were $38.5 million
  • New wins in 2024 were in the key focus areas of vehicle control, energy efficiency, electrical grid devices, and medical components
  • NN remains firmly on pace to meet its five-year $325 million new business wins goal, which is the key driver to growing organically to $600 million in sales at 13% adjusted EBITDA margins
  • NN’s new business pipeline has grown to over $720 million and fully supports the 2025 new win program which is already underway
  • NN will launch new programs at a higher rate in 2025 and has over $60 million of prior wins in the last 2 years that are not yet incorporated into its sales run-rate
  • NN has over 50 new business programs underway with Q1 2025 launches; new business is accretive to the Company’s gross margin rates, averaging 16% gross margin
  • Over the trailing two-years NN has captured $136 million in new wins across 300+ new program awards, and expects to win another 100+ programs in 2025
  • NN was recently awarded Cummins Innovation Award at year-end 2024 for its work on new products

Harold Bevis, Chief Executive Officer of NN Inc. commented, “We are excited to announce another record year of new business wins in our targeted growth areas. We have delivered a second consecutive year of record-setting commercial results. We are targeting this level of above-market new wins to achieve our five-year goal of growing to $600 million in sales and delivering 13% adjusted EBITDA rates.

A key pilar of the company’s transformation plan has been to pivot back to innovation and growth. Coupled with best-in-class quality and great on-time delivery performance, we are climbing the ranks and becoming an elite and preferred supplier in our targeted areas.” Bevis continued, “We are attacking desirable high-value markets where our unique capabilities and distinct technical advantages can be put in place for true value. We remain committed to working with our customers and partners to strengthen NN’s position as an innovative supplier of choice and delivery of value-added solutions for complex, high precision machined and stamped metal components and assemblies.”

Bevis continued, “We will continue this pace of new business acquisition into 2025 and 2026 and have a $720 million pipeline to support it. 2025 is off to a great start with the simultaneous launch of fifty [50] new programs during the first quarter.”

  • 50 programs are launching from 11 plants in the US, Brazil, France, Poland and China combine to be $20.8 million of annualized sales
  • For the full-year 2025, we expect to launch eighty [80] new programs of which seventy [70] have already been won

”Our $720 million of new business opportunities has grown more than 40% versus the prior year, and has several focus areas balanced across machined parts, stamped parts, plated parts and complex assemblies.”

  • Electrical Power pipeline $250+ million, Vehicle Control pipeline $100+ million, Fuel Efficiency & Hybrid pipeline $100+ million, Medical and Industrial pipeline $100+ million
  • We have built dedicated teams in each area that we are focused upon

”We are solidly on pace to meet our five-year goal of capturing $325 million in new business wins, and in turn growing NN’s revenue organically to $600 million. We also intend to acquire additional revenue above $600 million in certain areas, specifically medical and electrical, and look forward to updating the market with our progress as we win new business, grow our sales, and deliver expanded profits to drive shareholder value creation.”

About NN, Inc.

NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture 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, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com. 

FORWARD-LOOKING STATEMENTS

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 filings made with the Securities and Exchange Commission. 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 

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Source: NN, Inc.

United Rentals’ $4.8B H&E Acquisition Creates Equipment Rental Powerhouse

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Deal offers 109.4% premium to H&E shareholders at $92 per share
– United Rentals to add 64,000 units to rental fleet
– Expected cost synergies of $130 million within 24 months

United Rentals (URI) announced today a landmark $4.8 billion acquisition of H&E Equipment Services, marking a significant consolidation in the equipment rental industry amid strong demand for construction and industrial machinery. The deal, which sent H&E shares soaring over 105% in early trading, positions United Rentals to capitalize on increasing infrastructure spending and reshoring trends across the United States.

The all-cash transaction values H&E shares at $92 each, representing a substantial 109.4% premium to the company’s closing price on Monday. The strategic acquisition will expand United Rentals’ fleet by approximately 64,000 units, strengthening its position as one of the world’s largest equipment rental firms.

“We see United Rentals having a meaningful cross selling opportunity by pairing its specialty rental business with H&E’s portfolio of general rental equipment,” noted CFRA Research analyst Jonathan Sakraida. The merger comes at a time when industrial equipment demand remains robust, driven by increased government infrastructure spending and ongoing manufacturing production delays.

H&E Equipment, founded in 1961, brings to the table a diverse general rental fleet including aerial work platforms, earthmoving equipment, and material handling machinery. This portfolio complements United Rentals’ existing offerings and is expected to generate approximately $130 million in annual cost synergies within two years of the deal’s closing.

The merger agreement includes a 35-day “go-shop” period, allowing H&E to seek potentially better offers from other suitors. However, the substantial premium offered by United Rentals suggests strong confidence in the deal’s strategic value and future growth potential.

The timing of the acquisition appears particularly strategic, as United Rentals aims to capitalize on the continued momentum in U.S. reshoring efforts and infrastructure-related construction projected for 2025. The Stamford, Connecticut-based company has demonstrated consistent growth, reporting rising annual revenue over the past three years.

This consolidation in the equipment rental sector reflects broader industry trends toward scale and efficiency, as companies seek to meet the growing demands of major infrastructure projects and commercial construction across the United States.

Saga Communications (SGA) – Recent Stock Price Drop Is Gaining Investor Attention

Posted on by cpereira@noblefcm.com


Tuesday, January 14, 2025

Saga Communications, Inc. is a broadcast company whose business is primarily devoted to acquiring, developing and operating radio stations. Saga currently owns or operates broadcast properties in 27 markets, including 79 FM and 33 AM radio stations. Saga’s strategy is to operate top billing radio stations in mid sized markets, defined as markets ranked (by market revenues) from 20 to 200. Saga’s radio stations employ a myriad of programming formats, including Active Rock, Adult Album Alternative, Adult Contemporary, Country, Classic Country, Classic Hits, Classic Rock, Contemporary Hits Radio, News/Talk, Oldies and Urban Contemporary. In operating its stations, Saga concentrates on the development of strong decentralized local management, which is responsible for the day-to-day operations of the stations in their market area and is compensated based on their financial performance as well as other performance factors that are deemed to effect the long-term ability of the stations to achieve financial objectives. Saga began operations in 1986 and became a publicly traded company in December 1992. The stock trades on NASDAQ under the ticker symbol “SGA”.

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.

Recent weak stock performance. The SGA shares are down roughly 24% over the past six months and nearly 50% over the past year to near current levels. The performance is in line with its peer group, which is down approximately 45% over the past year. We believe that investors have thrown the baby out with the bath water, given that SGA has virtually no debt, unlike its highly debt levered peers, and has better revenue and cash flow growth potential.

Increased stake. Given the recent stock performance, Gate City Capital Management, LLC, a micro-cap focused investment firm, announced on January 8 that it nearly doubled its position during December 2024. Gate City Capital Management, LLC now owns 863,845 shares or approximately 13.8% of the total outstanding shares.


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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).

*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. 

Comtech Telecommunications (CMTL) – Reports First Quarter Results

Posted on by cpereira@noblefcm.com


Tuesday, January 14, 2025

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

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.

1Q25 Results. Revenue came in at $115.8 million, down 23.8% y-o-y. Revenue was below our estimate, consensus estimate, and management’s 4Q24 commentary. Adjusted EBITDA loss totaled $19.4 million, again below our estimate, consensus estimate, and management’s 4Q24 commentary. Comtech reported a GAAP net loss of $5.29/sh versus a loss of $0.11/sh in 1Q24. Adjusted net loss was $1.27/sh compared to EPS of $0.26/sh last year.

Segments. Terrestrial &Wireless revenue of $56.9 million rose 14.9% y-o-y. Adjusted EBITDA was $11 million, up 14% y-o-y. Book-to-bill was 1.22x. Satellite & Space segment revenue of $58.9 million declined 42.5% y-o-y, driven by a combination of divestitures and suboptimal performance. Segment adjusted EBITDA was a negative $21.1 million, while book-to-bill was 0.99x.


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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. 

Comstock (LODE) – Taking Steps to Enhance Financial Flexibility and Close Strategic and Financial Partnerships

Posted on by cpereira@noblefcm.com


Tuesday, January 14, 2025

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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.

Special meeting of stockholders. Comstock will host a virtual special meeting of stockholders on February 14 at 9:00 a.m. PT. Stockholders of record, as of January 2, are asked to vote to authorize a reverse stock split of the company’s issued and outstanding common stock at a ratio ranging from one-for-five to one-for-twenty, with the timing and ratio to be determined by the Board. There will be no reduction or change to Comstock’s 245,000,000 authorized share count. The primary goal of the reverse split is to increase the number of shares available for issuance should the company need to raise additional capital.

Convertible promissory note financing. Comstock recently executed a 6.0% convertible promissory note agreement with a principal amount of $10,638,298 to Kips Bay Select, LP. The note is due on April 10, 2026. On the initial closing date, Kips Bay will fund $5,000,000 which will result in an aggregate principal amount of $5,319,149, including the original issue discount. Following and contingent on the reverse split, Comstock could receive additional funding of $5,000,000 in a second tranche, likely next month, on the same terms. Kips Bay could also receive restricted shares equal to 2% of the principal amount of the convertible note and registered shares equal to 3% of the principal amount.


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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. 

Clearwater’s Enfusion Acquisition Bridges Front-to-Back Office Gap

Posted on by slightbourne@noblecapitalmarkets.com

Clearwater Analytics (NYSE: CWAN) announced today its agreement to acquire Enfusion, Inc. (NYSE: ENFN) for $1.5 billion, marking a significant move to create an integrated front-to-back investment management platform. The deal, announced January 13, 2025, will see Clearwater pay $11.25 per share in a mixed cash-and-stock transaction, along with $30 million to terminate Enfusion’s tax receivable agreement.

The acquisition brings together two complementary SaaS providers in the investment management space. Clearwater, known for its middle and back-office solutions, will integrate Enfusion’s front-office capabilities, including investment book of record (IBOR) and portfolio management systems, to create a unified cloud-native platform serving institutional investors.

“Today’s announcement is about creating a future where our clients benefit from the synergy of two highly complementary, innovative software leaders,” said Sandeep Sahai, CEO of Clearwater Analytics. The combination aims to eliminate the error-prone data handoffs that typically occur between front, middle, and back offices in investment operations.

The strategic merger significantly expands Clearwater’s market presence, particularly in the hedge fund sector where Enfusion has established itself as a leading platform provider. The deal is expected to increase Clearwater’s total addressable market by $1.9 billion and strengthen its international footprint, leveraging Enfusion’s strong presence in Europe and Asia, where it generates 38% of its revenue.

Clearwater expects to achieve substantial operational synergies, targeting $20 million in cost savings within the first two and a half years post-closing. The company also projects significant improvements in Enfusion’s adjusted EBITDA margins, anticipating a 400 basis point expansion in the first year and an additional 400 basis points in the second year after closing.

The transaction terms offer Enfusion shareholders $5.85 per share in cash and $5.40 per share in Clearwater Class A Common Stock, representing a 13% premium over Enfusion’s January 10 closing price and a 32% premium over its September 19, 2024 price, before market speculation about a potential sale began.

Enfusion’s CEO Oleg Movchan expressed enthusiasm about the merger, stating, “Together with Clearwater, our shared passion for building innovative technologies and enriching every aspect of the client journey will now accelerate and enhance our combined ability to support our clients’ evolving needs.”

The deal has received unanimous approval from both companies’ boards of directors and a special committee of independent Enfusion directors. Major Enfusion shareholders, including FTV, ICONIQ, and Mr. Movchan, who collectively hold approximately 45% of voting power, have agreed to support the transaction.

Clearwater has secured $800 million in committed financing through a Term Loan B, along with a $200 million revolving credit line to support the transaction. The company expects to close the deal in the second quarter of 2025, subject to regulatory approvals and customary closing conditions. Upon completion, the combined entity will be positioned to offer a comprehensive, cloud-native investment management solution that serves clients across the entire investment lifecycle.

Release – Kratos Receives New Hypersonic System Program Award with Total Potential Value of Approximately $100 Million

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KTOS

SAN DIEGO, Jan. 13, 2025 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in Defense, National Security and Global Markets, announced today that it has recently received an approximate $100 million total potential value hypersonic system program award. Approximately $15 million of funding has been received by Kratos at contract award, with significant increased funding expected in the second half of Kratos fiscal year 2025. Under the new program contract award, Kratos will provide engineering, systems and hardware. Work related to the program will be performed at secure Kratos fabrication, manufacturing and system integration facilities. Due to competitive, security related and other considerations, no additional information will be provided.

Tom Mills, President of Kratos C5ISR Division, stated, “Kratos’ reputation as the industry leader in delivering military quality hardware, products and systems at scale, was a key factor in the receipt of this new program award. The design, engineering and production of National Security related hardware, that must work every time, is hard, and I am proud of our entire organization’s commitment to the United States and its allies’ mil spec system requirements.”

Eric DeMarco, Kratos President and CEO, said, “Kratos is the recognized industry leader in the rapid development and fielding of affordable hypersonic systems, including Erinyes and Zeus, tactical unmanned jet drone aircraft including Thanatos and Valkyrie, jet engines for aerial drones and missiles and related C5ISR hardware. At Kratos, it’s products today, not PowerPoints of a hoped for, maybe someday system, at an unknown cost. Kratos warfighter and mission focused customers understand that “better is the enemy of good enough and ready to field today”, while reducing development cost and saving money in today’s increasing fiscally challenging environment.”

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Burghoff
Claire.Burghoff@kratosdefense.com

Investor Information:
877-934-4687
investor@kratosdefense.com

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Source: Kratos Defense & Security Solutions, Inc.