Latest news with #post-LiberationDay
Business of Fashion
9 hours ago
- Business
- Business of Fashion
This Week: Nike's Earnings and Jonathan Anderson's Dior Debut
We're all economics nerds in a post-Liberation Day world, so in a sense, this week's big reveal will be the Conference Board's monthly gauge of US consumer confidence, due out Tuesday. That survey will only tell us something about whether people are shopping, however. To find out what they'll be buying, we have Nike and Dior. Nike's Multifaceted Turnaround What's Happening: Nike reports fourth-quarter and full-year results on June 26. Analysts have an average forecast for sales to drop 15 percent for the quarter and 11 percent for the year, along with a sharp contraction in profits. Eye on the Horizon: Most have written off Nike's fiscal 2025, and will be instead watching for whether the sportswear giant releases guidance for the coming year, along with CEO Elliott Hill's outlook on the earnings call Thursday afternoon. FOMO: Nike watchers assume it's only a matter of time before the brand enters a new golden age, or at least halts its decline. Exactly when that will happen is the billion-dollar question; in a research note, UBS said Nike's stock may even be priced artificially high because investors worry they'll mistime the rebound (remarkable, given shares are trading close to an eight-year low). That dynamic provides Nike leadership a bit of breathing room to implement their plans, though it also increases the consequences if they push out their turnaround timeline. ADVERTISEMENT About Those Plans…: Nike learned the hard way why you don't put all your eggs in one basket, after its retro sneaker boom went bust. Along with marking down holdover Dunks, Nike is seeding numerous potential comeback efforts, including its (yes, retro) Vomero running shoe, the soccer cleat-inspired Cryoshots and reviving women's basketball sneakers with a signature shoe from the WNBA's A'ja Wilson. And of course there's NikeSkims, the new lifestyle sub-brand with Kim Kardashian. Even Nike-owned Converse is pitching in with a much talked about (though still unreleased) sneaker with basketball star Shai Gilgeous-Alexander. Patience Please: Any or all of these efforts could be the next great Nike franchise, but it will take years of meticulous execution to pull off. We'll find out Thursday if the company is confident enough in its plans to put a date on its return to form. A Big Debut at Dior Jonathan Anderson speaking at BoF Voices in 2023. (Getty Images) What's Happening: Jonathan Anderson makes his much-anticipated Dior debut with a men's show in Paris on June 27, the first and perhaps the biggest in a series of major designer debuts slated for the coming months. A Long Time Coming: Anderson was named creative director of Dior Men's in April, though his long-rumoured appointment to replace Maria Grazia Chiuri wasn't made official until earlier this month. Debuting with a men's show, rather than couture or women's, could be seen as a 'soft launch,' though given the many months of anticipation and the stakes, his collection won't lack for attention. Needing a Spark: The luxury sector is mired in its worst downturn in years. LVMH's brands, which initially defied the trend, are now struggling to keep customers engaged just like everyone else (though declines, while significant, are nowhere near the carnage at Gucci or Burberry). Creative directors can only do so much, but having the right vision and products makes the changes to supply chains and pricing architecture needed to revive the industry's prospects go down easier. The Week Ahead wants to hear from you! Send tips, suggestions, complaints and compliments to
Business Wire
4 days ago
- Business
- Business Wire
Oversubscribed FINS Rights Offering Enables Angel Oak Capital Team to Deploy Capital into Higher-Coupon Bank Debt Amid Favorable Market Backdrop
ATLANTA--(BUSINESS WIRE)--Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the 'Fund') is pleased to share an update on the Fund's capital deployment and general performance following the successful completion of its recent rights offering, which was significantly oversubscribed and raised approximately $110.4 million in gross proceeds. Strong demand drove the oversubscription, with robust participation from existing shareholders, which the Fund believes reflects their confidence in the Fund's management team and investment strategy. For the period ended May 31, 2025, FINS has outperformed its index on a 1-year, 3-year, 5-year and since-inception basis. Additionally, FINS pays out a distribution of over 10% and has narrowed its discount to 5.6% as of May 31, 2025, one of the largest improvements of its peer group over the past year. The Fund's management team continues to deploy fresh capital into higher-coupon bank debt, taking advantage of the marked increase in issuance volumes, as community and regional banks seek to refinance or call debt originated during the post-COVID 2020 vintage. 'The banking sector has several notable tailwinds we are seeking to take advantage of, given strong credit fundamentals across the banking system, with expanding net interest margins, stable credit quality and a growing pipeline of M&A activity,' said Johannes Palsson, Portfolio Manager for the Fund. 'The success of our recent offering validates our conviction in the opportunities we're seeing across the financial sector, and we look forward to deploying capital in the current environment.' 'With decades of experience across our management team and nearly $2 billion invested across private and public strategies in regional and community bank debt, Angel Oak is well positioned to deploy capital and deliver value for our investors,' said Sreeni Prabhu, Managing Partner and Group Chief Investment Officer. 'Our success in managing through multiple cycles and our established presence in the bank-debt sector for more than a decade bode well for the bullish outlook we expect to maintain over the next six to 12 months.' NAV PERFORMANCE AND THE RIGHTS OFFERING Ahead of the rights offering share issuance, FINS' 2025 year-to-date NAV performance benefitted from the resumption of bank debt primary market issuance with meaningful volume, following a slowdown in 2023 and early 2024 due to rising interest rates and the lingering effects of the regional banking crisis. New investment-grade bank debt is coming to market at highly attractive coupons, and pricing has improved on legacy portfolio positions. Notably, a significant portion of the legacy bank-debt portfolio is approaching its call and floating-rate period within the next 12 months, which the Fund believes will position these holdings to pull to par as deals reset to floating rate or are called. Additionally, select tactical equity positions rebounded sharply post-Liberation Day. Tactical opportunities remain a small portion of the Fund, accounting for less than 10% of overall AUM as of May 31, 2025. During the recent rights offering period, NAV was affected by heightened volatility surrounding two specific equity and preferred equity positions: KINS and PNBK. KINS: Angel Oak received warrants with a $1 strike price in conjunction with KINS's 2022 bond issuance. The company reported strong quarterly earnings and is slated for inclusion in the Russell 3000 on June 27, 2025. While the stock initially rallied following earnings, it has since pulled back over the past month. The position remains well in the money and the Fund believes it continues to offer an attractive risk-reward profile. PNBK: Following a recapitalization under new management in March 2025—including new common and convertible preferred equity — PNBK's stock performance ahead of the lockup expiration exceeded expectations by several standard deviations before returning to a more normalized valuation post-expiration. This position also remains well in the money and the Fund believes it is attractive from a risk-reward standpoint. Following the close of the recent rights offering, Angel Oak's investment team rapidly deployed proceeds into money center and regional bank debt to eliminate cash drag. As the issuance calendar accelerates, the team continues to optimize the portfolio by adding higher-coupon community bank bonds. Approximately one-third of the proceeds have already been redeployed, with an average coupon of 7.65% on new community bank-debt investments (range: 7.00%-8.50%), which is over 100 basis points higher than the Fund's average coupon of 6.49% as of March 31, 2025. The team believes the near-term pipeline remains strong, with anticipated new issue coupons ranging from 7.50% to 8.75%. HOLDINGS Click here to access the Fund's holdings as of 4/30/25. Click here to access the Fund's holdings as of 5/31/25. ABOUT FINS Led by Angel Oak's experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS' portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak. ABOUT ANGEL OAK CAPITAL ADVISORS, LLC Angel Oak Capital Advisors (the 'Adviser') is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, the Adviser seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit. On April 1, 2025, Angel Oak Companies, LP, the parent of Angel Oak Asset Management Holdings, LLC, itself the parent company of the Adviser, announced that it signed a definitive agreement pursuant to which Brookfield Asset Management Ltd. will acquire a majority interest in Angel Oak Companies, LP and its subsidiaries, including the Adviser (the 'Transaction'). The closing of the Transaction is expected to be completed by September 30, 2025. The Transaction is not expected to result in any material change in the day-to-day management of the Fund. However, the closing of the Transaction is subject to certain conditions, and there can be no assurance that the Transaction will be completed as planned, or that the necessary conditions will be satisfied. If successful, the closing of the Transaction would be deemed to be a change of 'control' of Angel Oak Companies, LP and its subsidiaries (collectively, 'Angel Oak'), including the Adviser, under the Investment Company Act of 1940, and deemed 'assignment' of the Fund's investment advisory agreement (the 'Existing Advisory Agreement'), which would result in the automatic termination of the Fund's Existing Advisory Agreement. However, following the closing of the Transaction, the existing management team of Angel Oak will continue to independently manage the day-to-day business of Angel Oak and the Adviser, and will control the board of directors of Angel Oak. At a meeting held on April 23, 2025, the Board of the Fund approved a new investment advisory agreement between Angel Oak and the Fund (the 'New Advisory Agreement'), subject to shareholder approval at a shareholder meeting to be held on June 26, 2025. This communication is not a proxy and is not soliciting any proxy in connection therewith, which can only be done by means of a proxy statement. Information regarding the Fund and the Adviser can be found at Past performance is neither indicative nor a guarantee of future results. Investors should read the prospectus supplement and accompanying prospectus and consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your investment representative or EQ Fund Solutions at 866-751-6314.
Yahoo
6 days ago
- Business
- Yahoo
Honeywell International (HON): Jim Cramer Loves Its Quantum Computing Honesty
We recently published a list of . In this article, we are going to take a look at where Honeywell International Inc. (NASDAQ:HON) stands against other stocks that Jim Cramer discusses. Honeywell International Inc. (NASDAQ:HON) is one of the largest industrial conglomerates in America. Its shares are flat year-to-date after having experienced a massive 15% post-Liberation Day dip in April and a 7.6% fall in January. However, since the April dip, Honeywell International Inc. (NASDAQ:HON)'s stock has gained 24%. 2025 has been full of news for the firm, with one notable development occurring in May after activist investor Elliot Management managed to secure a seat on the firm's board. However, Cramer's remarks about Honeywell International Inc. (NASDAQ:HON) focused on the firm's quantum computing business. Here's what he said: 'I mean, Honeywell's been very honest and said listen, we're not ready.' A shot of a commercial plane with a blur of color in the background, representing the production of auxiliary power units in the Safety and Productivity Solutions segment. The CNBC TV host discussed Honeywell International Inc. (NASDAQ:HON) in the context of NVIDIA CEO Jensen Huang injecting fresh life into quantum computing stocks after commenting that a breakthrough could be possible. Cramer's earlier remarks about the firm expressed confidence in its management: 'Jeff and I talked about this endlessly. We think the stock is dramatically undervalued. We think that Vimal Kapur is doing everything right. We could not believe how low the stock got. I am a firm believer and a buyer of Honeybell even at these levels. Yes, I like it that much. It was down 8% last week. That's nutty.' While we acknowledge the potential of HON as an investment, 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
13-06-2025
- Business
- Yahoo
Waste Management, Inc. (WM): I Could Buy It 'Consistently,' Says Jim Cramer
We recently published a list of . In this article, we are going to take a look at where Waste Management, Inc. (NYSE:WM) stands against other stocks that Jim Cramer discussed. Waste Management, Inc. (NYSE:WM) is one of the biggest waste collection and management companies in America. The shares have gained 18% year-to-date after having recovered from their 8.6% post-Liberation Day drop in April. Cramer has discussed Waste Management, Inc. (NYSE:WM) several times in his show in 2025. He believes the firm is enjoying tailwinds from President Biden's infrastructure spending and is attractive due to its domestic exposure. However, Waste Management, Inc. (NYSE:WM)'s shares still remain vulnerable to recessionary concerns as they reduce the demand the firm experiences for some products. In his recent remarks, Cramer called the firm "timeless," and this time, after co-host David Faber sarcastically commented that tariffs could reduce imports to the US and save the space for stuff thrown in landfills, Cramer remarked: "I could buy Waste Management consistently because of Temu. . .well I got to find out how badly Shein's been hurt." Cramer discussed Waste Management, Inc. (NYSE:WM) in detail earlier this year. Here is what he said: 'For some reason, road building is a big theme among the winners and that means you want to own Martin Marietta Materials. […] as well as WM, that's the artist formerly known as Waste Management which gets a big boost from construction. […] Overall, WM ranks 12th on our list of stocks that Jim Cramer discussed. While we acknowledge the potential of WM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at .
Yahoo
13-06-2025
- Automotive
- Yahoo
AutoZone (AZO) Is 'Not Nearly As Bad As People Think,' Says Jim Cramer
We recently published a list of . In this article, we are going to take a look at where AutoZone, Inc. (NYSE:AZO) stands against other stocks that Jim Cramer discussed. AutoZone, Inc. (NYSE:AZO) is an American automotive parts company. The shares have gained 14% year-to-date after having partially recovered their 9% post-Liberation Day drop. AutoZone Inc. (NYSE:AZO)'s stock has benefited as higher inflation and rates' impact on car sales have contributed to consumers spending more on car parts. The firm's fiscal third quarter same-store sales jumped by 5% Cramer has discussed the firm several times in his morning show and on Mad Money in 2025. During several of these appearances, he has been appreciative of the firm's stock buybacks. He kept the sentiment this time around as well: "AutoZone's not nearly as bad as people think, buy the stock down thirty five. They've got the best buyback in the history of the New York Stock Exchange." His previous comments about AutoZone Inc. (NYSE:AZO) discussed the firm's operations and the buyback in detail. Here is what Cramer said: 'We have some high-profile companies reporting on Tuesday. Now we start with one of the top performers of the year, and that's a company called AutoZone, AZO. This auto parts chain has been on fire, and it doesn't hurt that AutoZone has one of the most aggressive buybacks I have ever seen. They've more than cut half of the stock… in the last decade. If the stock gets hit, please do this, you should just go buy it because management will be right there alongside you buying it after a few days. What a horse.' Overall, AZO ranks 9th on our list of stocks that Jim Cramer discussed. While we acknowledge the potential of AZO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at .
