Bank of America has reaffirmed its 'buy' rating and set a price target of 720p for Melrose Industries, whose shares are trading near their lowest level this year. Despite the low share price, the broker highlights strong underlying performance, including an 11% revenue increase and growth in adjusted operating profit. The engines division is driving growth with 20% expansion in Q1, supported by military work and partnerships. Challenges include a temporary setback at the Garden Grove facility and mixed performance in the airframes division. The broker expects free cash flow to improve, projecting £150-200 million for the full year and up to £300 million by 2027, suggesting the current valuation is attractive.
Lululemon invested in Syntetica's $30 million Series A funding to support its innovative recycling of Nylon 6 and Nylon 6,6, materials difficult to separate and reuse in textile waste. This move aligns with growing industry demand for sustainable, co...
Ethereum futures long positions among top traders increased by over 3 percentage points across both USDT- and coin-margined markets, indicating a broad-based shift in short-term sentiment. This rise suggests heightened attention on ETH compared to ot...
NVIDIA announced that leading Japanese companies in robotics and manufacturing are adopting its Cosmos, Isaac, Metropolis, and Jetson platforms to accelerate AI-powered intelligent machines across industries. The new Cosmos 3 Edge model enables real-...
Oil prices are rising sharply due to renewed US naval blockades on Iranian shipping and increased tensions in the Strait of Hormuz, a critical oil transit route. Brent crude is holding above $85 and WTI above $80, with forecasts suggesting WTI could ...
The US government announced it will impose a new 25% tariff on Brazilian ethanol starting next Wednesday, accusing Brazil of unfair trade practices. This tariff excludes major Brazilian exports like oil, beef, coffee, and aircraft parts. The move fol...
