Daily Briefs

• NVIDIA Corp (NVDA US)  stock keeps climbing towards an hypothetical 5 trillion $ market cap, as the artificial intelligence (AI) trade accelerates.
• Unconfirmed rumors say NVIDIA has acquired CentML, a machine learning startup that provides an optimization platform to enhance the efficiency and cost-effectiveness of AI model training and deployment.
• After 5 weeks up in a row and a furious, vertical rally, the stock begins to appear OVERBOUGHT, according to our model.

• Simeon McMillan, founder of Accrued Interest, has a unique perspective on the broadcast television industry, with experience as a banker and executive in prominent media companies.
• The broadcast television industry has evolved from the hub and spoke model of major networks to a more consolidated landscape, with companies like Nexstar Media Group emerging as major players.
• McMillan will discuss the revenue streams, impact of cord cutting, and strategic investments within the industry, providing insights into the structure and evolution of broadcast television.

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• Lancaster Colony Corporation delivered mixed results for its fiscal year 2025 third quarter.
• Despite the 2.9% decline in consolidated net sales to $458 million, the company achieved record gross profit and operating income, reaching $106 million and $50 million, respectively.
• This highlights effective cost management and operational efficiencies in a challenging sales environment.

• Bone Biologics is pursuing a better and more effective way of dealing with back pain requiring surgery by developing bone regeneration in spinal fusion using the recombinant human protein known as NELL-1/DBX, or NB1.
• The company continues with human trials and is getting funding that will enable the approval process to continue.
• BBLG also filed for a patent that stands to strengthen the company’s intellectual portfolio.

• For the week ending 20/Jun, U.S. crude inventories fell by 5.8m barrels (vs. expectations of a 1.2m barrel decline). Meanwhile, gasoline stockpiles fell more than expected.
• The EIA reported a 96 Bcf storage build, while analysts forecasted an 88 Bcf increase. Storage levels are 6.6% above the five-year average but 6.3% below year-ago levels.
• Shell denied reports of merger talks with BP. TD Cowen raised its price target on Exxon to USD 128, citing its technological edge in resource recovery and strategic deal-making capacity.

• Care Cloud’s Preferred Stock ($CCLDO) represents the type of opportunities we’re pursuing in the Small Cap Absolute Growth Strategy.
• I’d written most of this post and put it on the backburner in preparation for it to be part of our quarterly letter, but a press release today made me smile and I decided to revise and inform.

• Today’s press release:“Our audit firm has informed the Company that it does not have the capacity to perform an ICFR attestation.

• Valaris Ltd.’s first quarter of 2025 financial results indicate robust performance, showcasing both significant operational achievements and strategic initiatives.
• The company’s success in securing over $1 billion in new backlog contracts highlights its capability to align strategically with market opportunities, notably in lucrative regions such as West Africa.
• This aligns with Valaris’s broader commercial strategy that emphasizes contracting high-specification assets on attractive long-term terms, thus ensuring consistent revenue streams critical for sustaining financial health.