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Business Wire
a day ago
- Business
- Business Wire
Cleveland-Cliffs Celebrates the Start-Up of New $150 Million Stainless Bright Anneal Line at Coshocton Works in Ohio
CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) today announced the commissioning of its new state-of-the-art Vertical Stainless Bright Anneal Line at its Coshocton Works facility in Coshocton, Ohio. This $150 million capital investment has been completed and will supply premium stainless steel for high-end automotive and critical appliance applications. The new annealing line uses a 100% hydrogen atmosphere, replacing the conventional acid-based processing, and includes a hydrogen recovery unit to recycle hydrogen and use a 50/50 mix of new and used hydrogen in the process. To mark the opening, a ribbon cutting ceremony will be held on Wednesday, July 2 at 11:00 a.m. ET at Cliffs' Coshocton Works facility. The event will be attended by key elected officials along with Cleveland-Cliffs' executives, employees, and key customers. Lourenco Goncalves, Cliffs' Chairman, President and CEO said: 'Since acquiring AK Steel in 2020, our stainless steel business has been the most consistent profit generating unit for Cleveland-Cliffs. This new line at Coshocton only enhances that, with an expected quick payback on this major investment. By using hydrogen and advanced automation, we're dramatically improving the quality and productivity of this critical product that our customers rely upon Cleveland-Cliffs for. As we embrace the new competitive landscape in the domestic steel industry, our profitability prospects are only getting stronger.' About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada. For more information, visit
Yahoo
29-05-2025
- Business
- Yahoo
Diebold Nixdorf Establishes New Retail Technology Facility in Ohio, Expands U.S.-Based Production
On May 29, Diebold Nixdorf, Incorporated (NYSE:DBD) announced that it has extended its U.S.-based production capabilities with a new retail technology line in Ohio. Diebold Nixdorf's new retail technology production line in the North Canton manufacturing facility will ensure continuity and localized delivery for domestic products. The company is building self-ordering kiosks for Tillster, its strategic software and distribution partner in the QSR space. This development will serve DBD's major customers, including its Top 20 QSR chains in the region. A technician in a factory, standing in front of a manufacturing line. Together with its supply chain strategy, Diebold's in-house manufacturing will improve with this extension, supporting its global supply chains and production. This will ultimately provide greater control and predictability in DBD's manufacturing processes. "We are delighted to manufacture for our U.S. customers within the country. Not only does this give us greater flexibility, the new production line has also come at exactly the right time, both with respect to our growth objectives in the region and the current macroeconomic environment. In combination with our strong services capabilities, the localization of our solutions delivery gives our North America-based customers additional confidence that they can rely on us to meet their needs," said Ilhami Cantadurucu, executive vice president, Global Retail at Diebold Nixdorf. The new retail line in North Canton brings self-service checkout solutions such as the modular DN Series EASY family. This solution allows multiple deployment options based on a single platform concept, mainly deployed across the Grocery and General Merchandise industry verticals. Diebold Nixdorf, Incorporated (NYSE:DBD) automates, digitizes, and transforms the way people bank and shop. In collaboration with over the top 100 financial institutions and top 25 retailers globally, Diebold offers integrated solutions to connect digital and physical channels conveniently and securely for millions of consumers each day. While we acknowledge the potential of DBD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DBD and that has 100x upside potential, check out our report about this cheapest AI stock. Read Next: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Wasatch Micro Cap Fund Exited Its Position in Xponential Fitness (XPOF)
Wasatch Global Investors, an asset management company, released its 'Wasatch Micro-Cap Fund' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund was down -16.57% in the quarter, outperforming the benchmark Russell Microcap® Growth Index's -17.75% return. U.S. equities fell in Q1, driven by tariffs, budget cuts, economic weakness, stagflation concerns, and AI-related companies, affecting micro-cap companies. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Wasatch Micro-Cap Fund highlighted stocks such as Xponential Fitness, Inc. (NYSE:XPOF). Xponential Fitness, Inc. (NYSE:XPOF) is a North America-based boutique fitness franchisor. The one-month return of Xponential Fitness, Inc. (NYSE:XPOF) was 9.32%, and its shares lost 2.97% of their value over the last 52 weeks. On May 27, 2025, Xponential Fitness, Inc. (NYSE:XPOF) stock closed at $9.15 per share with a market capitalization of $444.598 million. Wasatch Micro-Cap Fund stated the following regarding Xponential Fitness, Inc. (NYSE:XPOF) in its Q1 2025 investor letter: "Boutique health and wellness franchisor Xponential Fitness, Inc. (NYSE:XPOF) also detracted from performance. While its Club Pilates brand is healthy and profitable, other brands are not delivering sufficient economics for its franchisees to prosper. We exited our position in the quarter." A group of people in the fitness studio doing a yoga or pilates class. Xponential Fitness, Inc. (NYSE:XPOF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Xponential Fitness, Inc. (NYSE:XPOF) at the end of the first quarter, which was 27 in the previous quarter. Xponential Fitness, Inc. (NYSE:XPOF) reported consolidated revenue of $76.9 million in the first quarter 2025, down 4% from Q1 2024. While we acknowledge the potential of Xponential Fitness, Inc. (NYSE:XPOF) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Xponential Fitness, Inc. (NYSE:XPOF) and shared Greystone Capital Management's views on the company. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Business
- Yahoo
Dycom Jumps 39% in 3 Months: Should You Buy, Sell or Hold the Stock?
Shares of Dycom Industries, Inc. DY have demonstrated strong performance over the past three months, outpacing the Zacks Building Products - Heavy Construction industry. The stock has risen 38.9%, significantly surpassing the industry's 11.5% growth. The DY stock has also outperformed the broader Construction sector's rise of 1.6% and the S&P 500 index's 1.1% fall during the same North America-based telecom infrastructure services provider recently reported first-quarter fiscal 2026 results, with adjusted earnings and Contract revenues surpassing the Zacks Consensus Estimate. The company's top line increased 10.2% year over year, supported by strong contributions from AT&T and all other customers. Owing to strong momentum and the favorable demand outlook, the company raised its 2026 guidance. (read more: Q1 Earnings & Revenues Beat, Backlog Up Y/Y, FY26 View Raised). Image Source: Zacks Investment Research The DY stock has outperformed some other players in the past three months, including MasTec, Inc. MTZ, EMCOR Group, Inc. EME and Fluor Corporation FLR. In the said time frame, MasTec, EMCOR and Fluor have gained 20.2% and 15.1%, and 9.9%, respectively. Technical indicators suggest continued strong performance for Dycom. From the graphical representation given below, it can be observed that DY stock is trading above both 50 and 200-day simple moving averages, signaling a bullish trend. The technical strength underscores positive market sentiment and confidence in its financial health and prospects. Image Source: Zacks Investment Research Let us take a closer look at the factors driving Dycom's recent growth and what this may signal for the stock going forward. The company continues to see growth in fiber-to-the-home projects and maintenance contracts. In the fiscal first quarter, Dycom benefited from customers increasing or reconfirming fiber deployment targets. Higher fiber passing volumes supported revenue growth. Ongoing project acceleration is expected to drive further the end of the fiscal first quarter, the backlog was $8.127 billion, up from $7.760 billion at the fiscal 2025-end and $6.364 billion as of the first quarter of fiscal 2025. Of the current backlog position, $4.685 billion is projected to be completed in the next 12 months. The company is broadening its work with hyperscalers by connecting fiber networks and data centers. This expansion opens new markets and adds to the range of digital infrastructure services offered. The company is also pursuing opportunities to work directly with have also reaffirmed commitments to AI-related data centers and digital infrastructure, with increasing capital expenditure for the calendar year 2025. The company views long-haul and middle-mile networks as a significant market opportunity over the long term. Dycom recently secured a multi-year contract from an ISP for middle-mile network work, marking progress in this developing area. Dycom's service and maintenance segment provides a steady source of recurring revenues. The service and maintenance business has grown steadily alongside its revenues in recent years. This growth is reflected in the fiscal first quarter's results and the updated outlook for fiscal 2026. The company continues to focus on this segment and secured significant new contracts during the company aims to grow its service and maintenance segment while also expanding into fiber deployments, long-haul networks, hyperscaler projects and wireless equipment upgrades. This approach supports the company's overall growth plans. From a valuation standpoint, the company is currently trading at a premium relative to its industry and historical metrics, with the forward 12-month price-to-earnings (P/E) ratio sitting above the five-year Source: Zacks Investment Research Furthermore, DY also trades higher than some of its industry peers, such as MasTec, EMCOR and Fluor, which trade at 23.28X, 19X and 15.67X, company's premium valuation comes amid rising concerns over cost pressures that could affect profitability. Despite Dycom's positive outlook, ongoing tariffs and trade tensions continue to create risks for equipment costs and project margins. The company expects some increases in costs for equipment components sourced offshore. While the impact on current build plans is expected to be limited, these factors add uncertainty to expenses. Dycom is closely monitoring the situation and engaging with customers and suppliers to manage potential challenges. Dycom continues to gain from ongoing fiber-to-the-home programs, steady maintenance and operations activity, along with growing involvement in hyperscaler-related fiber infrastructure work. Despite ongoing tariff-related and macroeconomic challenges, fiber-to-the-home and hyperscaler initiatives continue to support long-term growth stakeholders are advised to hold their positions in this Zacks Rank #3 (Hold) stock, while prospective investors should monitor how the company manages these challenges before investing. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fluor Corporation (FLR) : Free Stock Analysis Report EMCOR Group, Inc. (EME) : Free Stock Analysis Report Dycom Industries, Inc. (DY) : Free Stock Analysis Report MasTec, Inc. (MTZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
13-05-2025
- Business
- Time of India
Happiest Minds' net profit halved in Q4 on major client default
Live Events IT services firm Happiest Minds Technologies on Tuesday reported a 32.1% on-quarter decline in net profit for Q4 FY25 to Rs 34 crore, which nearly halved compared to the fourth quarter of the previous fiscal, impacted by exceptional items on account of investments and recent acquisitions as well as a client for the January-March period grew 0.3% on-quarter and 25.6% on-year and stood at Rs 629 margins dipped from 24.5% to 14.6% on-year basis due to a Rs 12.5 crore write-off linked to a North America-based client who failed to meet payment obligations, Venkatraman Narayanan, MD and CFO, Happiest Minds told ET. However, it was purely bad debt and not related to ongoing macroeconomic factors, he clarified.'Despite the setback, we've managed to deliver stable performance. Our adjusted PAT has grown Rs 50 crore and EBITDA by Rs 100 crore year-over-year,' Narayanan said, adding that the company had invested Rs 40 crore into its new GenAI-focused business unit, which also contributed to the margin Minds' stock fell 2.59% to close at Rs 593.60 per share on the BSE company is hoping to grow with generative AI and improving macroeconomic conditions, as it looks to rebound from a tough fourth quarter impacted by a client default and sectoral Anantharaju, co-chairman and CEO said that the overall sentiment is now improving with global trade tensions easing and geopolitical risks subsiding. 'We are holding on to our guidance of double-digit revenue growth for FY26. Sentiment is definitely turning positive,' he said, noting that sectors like BFSI and healthcare are seeing renewed traction, while the high-tech vertical is stabilising post-client noted that GenAI is transitioning from proof-of-concept to full-scale deployment. 'Clients are moving from just slapping on a GenAI interface to rethinking their entire application architecture around GenAI,' he said. The company is now working on agentic AI models as well. 'We're seeing 10–25% productivity gains across software development and testing lifecycles,' he AI's impact on workforce, the company said most clients are using productivity improvements to accelerate roadmaps rather than cut costs. 'We haven't seen any client ramp-downs due to AI,' Anantharaju hiring, Happiest Minds is taking a calibrated approach. While it skipped campus hiring last year, it plans to return to campuses in the coming cycle, albeit with smaller intake. Wage hikes are still planned for July, although the final quantum will be determined closer to rollout.
