Par Pacific Holdings (PARR) reported a record Q2 2026 adjusted EBITDA of $571 million, driven by a refining margin super cycle and its strong position in Hawaii. The company's system-wide margin capture reached 125%, well above historical and peer averages, boosting profitability. Despite these gains, PARR trades at low valuation multiples due to market skepticism about the durability of these peak cycle earnings. Risks include the cyclical nature of refining margins, concentration in Hawaii, lack of margin hedging, and potential regulatory or demand changes that could normalize profits.
HUTCHMED has finalized an exclusive license agreement with GSK granting GSK rights to develop and commercialize HMPL-A830, a novel KRAS-EGFR antibody conjugate therapy, outside China, Hong Kong, Macau, and Taiwan. This therapy targets cancers with KR...
Circle and Grupo BIND have partnered to enhance institutional access to the USD Coin (USDC) stablecoin in Argentina through the BEN platform. This collaboration integrates Circle's technology, allowing eligible participants to use USDC more easily. U...
Enova International announced it has withdrawn its applications to acquire Grasshopper Bancorp due to unclear regulatory standards for nonbank entities seeking bank status. This unexpected move caused Enova's stock to drop 23.4% on heavy trading volu...
Medical Informatics Corp. has launched the Sickbay Experience Demo Center at Texas Medical Center's Helix Park, showcasing its FDA-cleared Sickbay platform. This interactive center demonstrates how real-time patient data from various medical devices ...
Chainlink (LINK) closed at $12.32 on October 20, up 2.2% from the previous day, following withdrawals of 246,800 LINK from Binance to an unidentified address over four days. These tokens were worth about $3.01 million at the time of transfer. The rec...
