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Business Wire
16-07-2025
- Business
- Business Wire
The Hartford Names Prateek Chhabra Chief Risk Officer
HARTFORD, Conn.--(BUSINESS WIRE)-- The Hartford is promoting Prateek Chhabra to chief risk officer, succeeding Robert Paiano who will retire from the company at the end of the year following 29 years of service. Chhabra will report directly to The Hartford's Chairman and CEO Christopher Swift. The move is effective Sept. 1, 2025. 'Prateek is an accomplished risk manager with deep knowledge of the insurance industry and known for his ability to turn complex challenges into actionable insights,' said Swift. 'He has advanced our risk management capabilities, driven innovation and implemented strategic improvements across our enterprise making him ideally suited for the role of chief risk officer.' Since 2018, Chhabra has served as senior vice president and chief insurance risk officer for The Hartford. Prior to joining the company, he was chief risk officer for domestic businesses at The Hanover Insurance Group. Earlier in his career, he held multiple risk and strategy consulting roles focusing on the financial-services sector with market leaders, including McKinsey and Company, Aon and Verisk (AIR Worldwide at the time). Paiano has had an accomplished 40-year career in the financial-services industry, culminating with his role as chief risk officer for The Hartford since 2017. Prior to that he served as the company's treasurer. Effective Sept. 1, he will assume an advisory role to ensure a seamless transition. Swift added, 'I commend and honor Robert and the enduring impact of his leadership at The Hartford. He has been a trusted advisor and an exceptional developer of talent. His legacy is defined by a data-driven and thoughtful approach to managing risk, capital and liquidity – hallmarks of our culture. This change reflects the strength of our succession planning and the depth of leadership across the organization.' About The Hartford The Hartford is a leader in property and casualty insurance, employee benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford's legal notice. HIG-C Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2024 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued. From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the 'Email Alerts' section at
Business Insider
15-07-2025
- Business
- Business Insider
Super Micro Computer Stock (SMCI) Bulls Eye $100 Price Target
Super Micro Computer (SMCI) has posted an eye-popping 1,677% return over the past five years, yet the stock now sits 57% below its 2024 peak of around $114. Its meteoric rise is being fueled by the AI boom, with its high-performance servers perfectly positioned to meet surging demand. Lately, though, investor sentiment has cooled due to accounting concerns and tightening margins. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Even so, SMCI's strong growth outlook and attractive valuation point to a potential rebound. If the company can navigate near-term challenges, a return to previous highs remains well within reach. Fueling the Surge: The AI Boom Over the past five years, SMCI has ridden the trend of artificial intelligence and data center expansion with its customizable, high-efficiency servers becoming critical for enterprises and hyperscalers scaling AI infrastructure. To quantify this trend, note that from 2020 to 2024, SMCI's revenue soared from $3.34 billion to $15 billion, with a 110.42% year-over-year leap in 2024 alone, driven by partnerships with NVIDIA (NVDA) and AMD (AMD). In the meantime, its U.S.-based manufacturing and leadership in liquid-cooling technology have further solidified its edge, meeting the market's push for sustainable, high-performance solutions. Wall Street has grown increasingly bullish on SMCI, thanks to its ability to deliver modular, scalable systems that have made it a top choice for cloud providers and AI-focused companies. Its inclusion in the NASDAQ 100 in 2023 further elevated its profile and fueled investor optimism. That momentum hasn't faded. With the global data center market projected to hit $528 billion this year and grow at a high-single-digit pace through the decade, SMCI stands to benefit significantly. Its innovative product lineup positions it well to capture a sizable share of this expanding market. SMCI Arrests Stock Market Slide Despite the strong long-term themes supporting SMCI and a solid base of bullish investors, the stock has faced serious headwinds since reaching its 2024 peak. A critical report last year resurfaced concerns over accounting practices, echoing a 2018 SEC probe that resulted in fines and a temporary NASDAQ delisting. The fallout was swift: shares plunged nearly 85% at their lowest point. Investor confidence was further rattled by a delayed 10-K filing, raising fears of another potential delisting, while ongoing investigations by the DOJ and SEC cast an even darker cloud. The effect on SMCI's share price has been significant. As TipRanks data shows, SMCI's performance against the broader S&P 500 (SPX) benchmark has been lackluster to say the least. SMCI has lagged the S&P by over 40%. Operational challenges have added to the pressure. SMCI's most recent quarterly results fell short of expectations, with revenue coming in at $4.6 billion versus a forecasted $5 billion. Adjusted EPS dropped to $0.31 from $0.66 a year earlier, hit by inventory write-downs on older-generation GPUs and customer delays tied to the transition to NVIDIA's Blackwell architecture. Gross margins shrank to 9.7%, down 220 basis point s from the previous quarter, due to rising costs and a mix shift toward lower-margin hyperscale contracts. Meanwhile, a $2 billion convertible note offering raised dilution concerns, further weighing on sentiment. Robust Growth Prospects: A Bright Horizon Despite recent setbacks, SMCI has now addressed its accounting concerns, and its long-term growth outlook remains firmly intact, driven by the ongoing surge in AI infrastructure demand. Even with last quarter's top-line miss, revenue still climbed 19% year-over-year, with AI GPU platforms making up over 70% of total sales—a clear sign of strong adoption among enterprise clients and cloud providers. CEO Charles Liang emphasized SMCI's first-mover advantage with next-gen GPU platforms and its Datacenter Building Block Solutions (DCBBS), which are expected to power growth as customers transition to technologies like NVIDIA's Blackwell architecture starting in Q4 2025. The company is also expanding aggressively, building out facilities in Malaysia, Taiwan, and Europe to keep pace with global demand. Its upcoming DLC-2 liquid-cooling solution and strategic partnerships with NVIDIA and Ericsson on edge AI infrastructure further strengthen its competitive position in the $367 billion data center market. Reflecting this momentum, management is guiding for Q4 2025 revenue between $5.6 billion and $6.4 billion, with adjusted EPS of $0.40 to $0.50, signaling confidence in both margin recovery and production scale-up. A Bargain with Upside Potential At today's share price, SMCI trades at 23x this year's expected EPS of $2.08, a compelling multiple given its growth trajectory. At the same time, analysts forecast EPS growth of 34% in 2026 and 28% in 2027, which is to be driven by AI demand and improving supply chains. So SMCI's forward P/Es quickly fall to mid-teens below $50 per share, which means that as SMCI achieves these targets, investors are likely to chase the stock higher. So yes, risks remain, including rising competition and potential tariff impacts. Still, the broader AI and data center trends remain powerful tailwinds, with SMCI's leadership in high-efficiency servers and cooling systems aligning with market demand. Is SMCI Stock a Good Buy? Analyst sentiment on SMCI is currently mixed, reflecting a divide between those who view it as a value opportunity and those who remain cautious. The stock holds a Moderate Buy consensus, based on six Buy, six Hold, and two Sell ratings issued over the past three months. Notably, SMCI's average 12-month price target stands at $42.67, implying about 13% downside from current levels. This suggests that, unlike my more optimistic outlook, Wall Street isn't yet convinced the stock is on track to reclaim its previous highs. SMCI Set for Rebound as Wall Street Remains Unconvinced Despite recent volatility, SMCI continues to play a vital role in the AI infrastructure landscape, backed by strong fundamentals, accelerating demand, and an attractive valuation. Its leadership in next-generation server and cooling technologies, expanding global presence, and strategic partnerships position the company well for long-term growth. Now that its accounting concerns are resolved and margin pressures appear set to ease, SMCI looks poised to regain lost ground. While Wall Street's conviction in the stock remains lukewarm for now, the underlying story suggests meaningful upside for those willing to look past the near-term noise.
Business Wire
08-07-2025
- Business
- Business Wire
Kaiser Aluminum Corporation Announces Second Quarter 2025 Earnings Release and Conference Call
FRANKLIN, Tenn.--(BUSINESS WIRE)--Kaiser Aluminum Corporation (NASDAQ: KALU) today announced that it plans to release its second quarter 2025 financial and operating results on Wednesday, July 23, 2025, after the market closes. The Company will host its quarterly conference call on Thursday, July 24, 2025, at 10:00 a.m. Eastern Time. The conference call can be directly accessed from the U.S. and Canada at (877) 423-9813 and accessed internationally at (201) 689-8573. The conference call ID number is 13754454. A live webcast and related presentation slides will be available through the Investors portion of the Company's website at An audio archive will be available on the Company's website following the call. About Kaiser Aluminum Corporation Kaiser Aluminum Corporation, headquartered in Franklin, Tenn., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, packaging, general engineering, automotive extrusions, and other industrial applications. The Company's North American facilities produce value-added plate, sheet, coil, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service that have been key components of the culture since the Company was founded in 1946. The Company's stock is included in the Russell 2000® index and the S&P Small Cap 600® index. Available Information For more information, please visit the Company's website at The website includes a section for investor relations under which the Company provides notifications of news or announcements regarding its financial performance, including Securities and Exchange Commission (SEC) filings, investor events, and earnings and other press releases. In addition, all Company filings submitted to the SEC are available through a link to the section of the SEC's website at which includes: Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and Proxy Statements for the Company's annual stockholders' meetings, and other information statements as filed with the SEC. In addition, the Company provides a webcast of its quarterly earnings calls and certain events in which management participates or hosts with members of the investment community.
Business Wire
30-06-2025
- Business
- Business Wire
FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Open Lending
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Open Lending Corporation ('Open Lending' or the 'Company') (NASDAQ: LPRO) and reminds investors of the June 30, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements Share Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: (1) misrepresented the capabilities of the Company's risk-based pricing models; (2) issued materially misleading statements regarding the Company's profit share revenue; (3) failed to disclose the Company's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; and (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans. As a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On March 17, 2025, Open Lending announced the postponement of its earnings release and conference call, both originally scheduled for the same day. The company also filed a Form 12b-25, requesting additional time to finalize its financial statements for its annual 10-K report. On this news, Open Lending's stock price fell $0.40, or 9.3%, to close at $3.91 per share on March 17, 2025, thereby injuring investors. Subsequently, on March 31, 2025, Open Lending reported a substantial year-over-year increase in its net loss for Q4 2024, largely attributable to the recognition of a valuation allowance on its deferred tax assets, which elevated its income tax expense for the period. Additionally, the company disclosed significant leadership changes. On this news, Open Lending's stock price fell $1.59, or 57.61%, to close at $1.17 per share on April 1, 2025, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Open Lending's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Open Lending Corporation class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Malaysian Reserve
27-06-2025
- Business
- Malaysian Reserve
LPRO Investors Have the Opportunity to Lead the Open Lending Securities Fraud Lawsuit with Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Open Lending To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $75,000 in Open Lending between February 24, 2022 and March 31, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, June 26, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Open Lending Corporation ('Open Lending' or the 'Company') (NASDAQ: LPRO) and reminds investors of the June 30, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: (1) misrepresented the capabilities of the Company's risk-based pricing models; (2) issued materially misleading statements regarding the Company's profit share revenue; (3) failed to disclose the Company's 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; and (4) misrepresented the underperformance of the Company's 2023 and 2024 vintage loans. As a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On March 17, 2025, Open Lending announced the postponement of its earnings release and conference call, both originally scheduled for the same day. The company also filed a Form 12b-25, requesting additional time to finalize its financial statements for its annual 10-K report. On this news, Open Lending's stock price fell $0.40, or 9.3%, to close at $3.91 per share on March 17, 2025, thereby injuring investors. Subsequently, on March 31, 2025, Open Lending reported a substantial year-over-year increase in its net loss for Q4 2024, largely attributable to the recognition of a valuation allowance on its deferred tax assets, which elevated its income tax expense for the period. Additionally, the company disclosed significant leadership changes. On this news, Open Lending's stock price fell $1.59, or 57.61%, to close at $1.17 per share on April 1, 2025, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Open Lending's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Open Lending Corporation class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
