In today’s briefing:
- Intel CEO Heads To DC To Save His Job As Former CEO Calls His Leading Edge Strategy A Joke
- Bullish US LLC (BLSH): IPO Range and Size Increased, Next Digital Asset Moonshot on Deck
- What’s Trump After in Lip-Bu Tan’s Oval Office Meeting?
- Miami International Holdings (MIAX): Financial Marketplace Specialist Sees Revenues Spiking into IPO
- Meat Prices Rise and Rise and Rise
- NLOP Update; Liquidation on Track
- NRXBF: Company Treatment Outperforms Industry Standard
- UHAL: U-Haul Reports 1Q FY2025 Financial Results. Revenues were again above expectations
- UHAL: U-Haul Reports 1Q FY2026 Financial Results. Revenues were again above expectations
- Vaalco Energy (NYSE: EGY): Strong quarter on all fronts
Intel CEO Heads To DC To Save His Job As Former CEO Calls His Leading Edge Strategy A Joke
- Intel CEO Lip Bu Tan is reportedly headed to Washington today to meet with the US Administration and clear up any misunderstandings about his past investments in China etc.
- Meanwhile, former CEO Craig Barrett published his third opinion piece about Intel’s future and calls LBT’s strategy of not investing further in 14A without customer support a joke
- It’s challenging to deal with the US Administration from a position of strength. It’s a whole different ball game when both the CEO & the company are in crisis mode…
Bullish US LLC (BLSH): IPO Range and Size Increased, Next Digital Asset Moonshot on Deck
- The global digital asset platform that provides market infrastructure and information services increased its price range and shares being offered on Monday morning.
- Looking at the prospectus, there is a $200 million anchor order from Ark Investment and BlackRock.
- The Bullish IPO is looking to ride the tailwinds from the regulatory wins in the digital asset space as well as the success of recent IPOs.
What’s Trump After in Lip-Bu Tan’s Oval Office Meeting?
- Political scrutiny and perception issues form a tense backdrop ahead of Tan’s Oval Office meeting.
- Strategic rifts over investment pace, 14A development, and fab build-outs are at the heart of the discussion.
- The meeting’s outcome may hinge on whether Tan can align Intel’s roadmap with Trump’s manufacturing agenda.
Miami International Holdings (MIAX): Financial Marketplace Specialist Sees Revenues Spiking into IPO
- Miami International Holdings is offering 15 million shares at a $19-$21 range which equates to a valuation of $1.5b-$1.7b.
- In the first half of 2025 the adjusted revenue was $197m or 56% above the $126m in 1H 2024.
- As of August, they have built out all the technology pieces they need without adding head-count and now are in execution mode.
Meat Prices Rise and Rise and Rise
- FAO’s meat price index hit a new all-time high of 127.3 points, up 1.2% from its previous peak in June, as strong import demand from China and the United States boosted beef and sheep meat prices, the agency said.
- U.S. beef imports have climbed after drought led to a decline in the domestic cattle herd.
- Looking at the latest futures prices, live cattle, feeder cattle and even lean hogs remain in a strong uptrend with a significant backwardation remaining within the forward curve.
NLOP Update; Liquidation on Track
NLOP just declared a $3.10 special dividend, funded by cash from asset sales.
The company has zero recourse debt, $78M cash, and continues to sell properties well above the market’s implied valuation.
In Q2, NLOP sold a vacant building for $81/sf and a JPMorgan-leased asset for $143/sf at a 12.1% cap rate.
NRXBF: Company Treatment Outperforms Industry Standard
- NurExone (OTC-NRXBF) is a preclinical stage biotech company that is developing a breakthrough treatment for spinal cord injuries that has the potential to dramatically improve lives.
- The technology involved also has the potential to more efficiently get other treatments to the needed area.
- The company announced independent study results that show its exosomes delivered more than twice the amount of wound-healing signals than the industry benchmark.
UHAL: U-Haul Reports 1Q FY2025 Financial Results. Revenues were again above expectations
- U-Haul Holding Company is the parent company of U-Haul International, the world’s largest consumer truck and trailer rental company.
- U-Haul is also the third largest self-storage operator in North America.
- Management continues to expand capacity in the self-storage segment and U-Box.
UHAL: U-Haul Reports 1Q FY2026 Financial Results. Revenues were again above expectations
- U-Haul Holding Company is the parent company of U-Haul International, the world’s largest consumer truck and trailer rental company.
- U-Haul is also the third largest self-storage operator in North America.
- Management continues to expand capacity in the self-storage segment and U-Box.
Vaalco Energy (NYSE: EGY): Strong quarter on all fronts
- 2Q25 WI production averaged 21,654 boe/d, near the top end of the guidance range (20–22.1 mboe/d).
- Gabon production was particularly strong at 8,563 bbl/d (guidance of 7.8–8.6 mbbl/d), driven by continued flow from the 4H well at Ebouri, which remains ~1,000 bbl/d (gross).
- Despite high H₂S concentrations, chemical treatment has proven effective.
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