Latest news with #CEO
Yahoo
2 hours ago
- Business
- Yahoo
Paychex shares recoup a bit; CEO comments about economy; analysts weigh in
Paychex shares recoup a bit; CEO comments about economy; analysts weigh in originally appeared on TheStreet. At Paychex () there's no such thing as a free toaster. That may sound confusing, but President and Chief Executive John Gibson brought it all together during the payroll- and human-resources-services provider's fiscal fourth-quarter earnings call. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 "I've said it multiple times: We're going to continue to be disciplined about growth," he told analysts on June 25. "That client number can be whatever you want it to be if you're willing to spend more than the lifetime value of the customer to acquire the customer.""And we're not going to go crazy with promotions," he added. "We're not going to give away toasters and other gadgets to try to accelerate a number that you're going to add a client that you have to service. We're going to continue to be aggressive in driving client growth, but we're going to continue to also be Paychex." Gibson commented on a tough day for Paychex, which was the worst-performing stock in the S&P 500 after the company missed Wall Street's sales expectations and trimmed its full-year forecasts. The company in April closed the acquisition of human-capital-management-software maker Paycor for $4.1 billion cash. Gibson told analysts that "all of the changes that we wanted to make we made in the fourth quarter." "And we made a strategic decision that given the distractions that were already out there, with Liberation Day and everything else in the marketplace, that now was the time to go ahead and move as quickly as we could to get everything done," he said. April 2 was what President Donald Trump called Liberation Day, his reveal of his tariff policy agenda.."We certainly could have done it at a different pace that would have dragged it potentially into the first quarter of this fiscal year, but we made an election to get all of it out of the way," he explained. Turning to the economy, Gibson said the company was seeing a mix of both optimism and uncertainty within the market and its client base. "Many businesses are frozen as they wait for more clarity about a number of macro issues such as tariffs, inflation and taxes," he said. "The hard data continues to indicate that small businesses remain fundamentally healthy despite the headlines." A Paychex small business report showed stable employment levels with moderation in hourly wage inflation in recent months. "Our data does not currently show any signs of recession," the executive said. "We also see our interactions in the market that the uncertainty is prompting businesses to exercise caution when making decisions and being cautious about how much they are spending on products and services." He noted that Paychex in fiscal Q4 had also seen bankruptcies and financial distress increase in the market and in its client base. "Many businesses, I think, on the edge of failure may have decided not to fight that new headwinds they see in front of them," he said. "We also saw losses due to increases in business combinations and mergers increase more than typical." "We will continue to monitor the hard data and trends in the market and take the appropriate steps to position Paychex to win in any market conditions," he said. After the drop on June 25, Paychex shares were off 1.6% in 2025 and up 17.5% from a year earlier. At last check they were up 1.6% at $140.12. Following the Paychex earnings release, UBS cut its price target on Paychex to $145 from $155 and affirmed a neutral rating on the shares, according the The Fly. A "lackluster" fiscal 2026 should keep Paychex stock range-bound, UBS said. Stifel lowered its price target on Paychex to $152 from $156, while maintaining a hold rating, stating that "confusion" surrounding fiscal 2026 guidance is "more impactful than any fundamental shifts." Last year's fiscal Q4 annual price increase was instituted earlier than historical practice, which distorts the comparisons, Stifel said. The investment firm said that management reported some weakening data points, but Stifel views the installed base as stable and see no signs of pending pared its target on Paychex to $140 from $155 and also affirmed a hold rating. The Q4 results disappointed largely due to slower growth in organic Management Solutions revenue. Management cited multiple reasons including distractions related to integrating Paycor, Jefferies said. However, the investment firm added, while the shares might drop further, the large post-print move and easier setup likely creates a floor against material near-term shares recoup a bit; CEO comments about economy; analysts weigh in first appeared on TheStreet on Jun 26, 2025 This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Business
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GreenPower Closes Fourth Tranche of Term Loan Offering
VANCOUVER, BC, June 27, 2025 /CNW/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, announces the closing of the fourth tranche of its previously announced secured term loan offering for an aggregate principal amount of U.S. $200,000 (collectively the "Loans"). Please refer to the Company's news release dated May 13, 2025 for more details regarding the term loan offering. In connection with the Loans, the Company entered into respective loan agreements with companies controlled by the CEO and a Director of the Company (the "Lenders"). Management anticipates that the Company will allocate the net proceeds from the Loans towards production costs, supplier payments, payroll and working capital. The Loans are secured with a general security agreement on the assets of the Company subordinated to all senior debt with financial and other institutions and will bear interest of 12% per annum commencing on the date of closing (the "Closing Date") to and including the date all of the Company's indebtedness pursuant to the Loans is paid in full. The term of the Loans will be two years from the Closing Date. As an inducement for the Loan, the Company issued 263,157 non-transferable share purchase warrants (each, a "Loan Bonus Warrant") to one of the Lenders. Each Loan Bonus Warrant entitles the holder to purchase one common share of the Company (each, a "Share") at an exercise price of U.S. $0.38 per Share for a period of twenty-four (24) months from the closing date of the Loan. In addition, one Lender will be issued an aggregate of 52,631 Shares (each a "Loan Bonus Share"). The Lenders are each considered to be a "related party" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and each of the Loans and issuance of Loan Bonus Warrants and Loan Bonus Shares, as applicable, is considered to be a "related party transaction" within the meaning of MI 61-101 but each is exempt from the formal valuation requirement and minority approval requirements of MI 61-101 by virtue of the exemptions contained in section 5.5(a) and 5.7(a) as the fair market value, in each case, of the Loans, the Loan Bonus Warrants, and the Loan Bonus Shares, as applicable, is not more than 25% of the Company's market capitalization. All securities issued in connection with the Loans will be subject to a statutory hold period of four months plus a day from the closing of the Initial Loan in accordance with applicable securities legislation. For further information contact: Fraser Atkinson, CEO(604) 220-8048 Brendan Riley, President(510) 910-3377 Michael Sieffert, CFO(604) 563-4144 About GreenPower Motor Company designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to Forward-Looking Statements This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the use of proceeds of the Loan. Although the Company believes that and the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that the proceeds of the Loan may not be used as stated in this news release, and those additional risks set out in the Company's public documents filed on SEDAR+ at and with the United States Securities and Exchange Commission filed on EDGAR at Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ©2025 GreenPower Motor Company Inc. All rights reserved. View original content to download multimedia: SOURCE GreenPower Motor Company View original content to download multimedia:
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5 hours ago
- Business
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SBC Medical added to membership of Russell 3000® Index
IRVINE, Calif., June 27, 2025--(BUSINESS WIRE)--SBC Medical Group Holdings Incorporated (Nasdaq: SBC) ("SBC Medical"), a global franchise and provider of services for aesthetic clinics, has been added as a member of the broad-market Russell 3000® Index, effective after the US market opens on June 30, as part of the 2025 Russell indexes reconstitution. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. Fiona Bassett, CEO of FTSE Russell, An LSEG Business, comments:"The Russell indexes have continuously adapted to the evolving dynamic US economy, and it's crucial to fully recalibrate the suite of Russell US Indexes, ensuring the indexes maintain an accurate representation of the market. The transition to a semi-annual reconstitution frequency from 2026 will ensure our indexes continue to represent the market and maintain the purpose of the index as a portfolio benchmark." For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website. About SBC Medical SBC Medical, headquartered in Irvine, California and Tokyo, Japan, owns and provides management services and products to cosmetic treatment centers. The Company is primarily focused on providing comprehensive management services to franchisee clinics, including but not limited to advertising and marketing needs across various platforms (such as social media networks), staff management (such as recruitment and training), booking reservations for franchisee clinic customers, assistance with franchisee employee housing rentals and facility rentals, construction and design of franchisee clinics, medical equipment and medical consumables procurement (resale), the provision of cosmetic products to franchisee clinics for resale to clinic customers, licensure of the use of patent-pending and non-patented medical technologies, trademark and brand use, IT software solutions (including but not limited to remote medical consultations), management of the franchisee clinic's customer rewards program (customer loyalty point program), and payment tools for the franchisee clinics. For more information, visit About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell. Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only the Company's beliefs regarding future events and performance, many of which, by their nature, are inherently uncertain and outside of the Company's control. These forward-looking statements reflect the Company's current views with respect to, among other things, the Company's product launch plans and strategies; growth in revenue and earnings; and business prospects. In some cases, forward-looking statements can be identified by the use of words such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," "targets" or "hopes" or the negative of these or similar terms. The Company cautions readers not to place undue reliance upon any forward-looking statements, which are current only as of the date of this release and are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. The forward-looking statements are based on management's current expectations and are not guarantees of future performance. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. Factors that may cause actual results to differ materially from current expectations may emerge from time to time, and it is not possible for the Company to predict all of them; such factors include, among other things, changes in global, regional, or local economic, business, competitive, market and regulatory conditions, and those listed under the heading "Risk Factors" and elsewhere in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at View source version on Contacts SBC Medical Group Holdings Incorporated (Asia)Hikaru Fukui / Head of Investor Relations E-mail: ir@ ICR LLC (In the US)Bill Zima / Managing Partner Email: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Automotive
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Stellantis CEO Filosa retains former role, will also lead North American operations
Antonio Filosa is starting a new job and keeping his old one. Filosa officially began as the CEO of Stellantis — the international automaker that owns Chrysler, Dodge, Jeep, Ram, Fiat and more — on Monday, June 23. Filosa, who has been with Stellantis-affiliated brands for over 25 years, rose to CEO from his latest gig leading operations in the Americas and product quality across the company. In assigning a leadership team on his first day, Filosa announced he plans to maintain oversight of North American operations while serving as CEO. On Filosa's first day of work, the automaker announced several details — including his prioritizing of North America — that provide some insights into what Stellantis may look like under his lead. Filosa, 51, is succeeding Stellantis CEO Carlos Tavares. Tavares was the first CEO of the company following a merger between Fiat Chrysler Automobiles and Peugeot S.A. Group in 2021. During Tavares' tenure, Stellantis consistently slipped in profits and maintained a reputation with employees and dealers that proved difficult to resolve. Tavares resigned in late 2024. During Tavares' tenure, he attracted the ire of United Auto Workers — who launched strikes and subsequent "Keep the Promise" campaigns when they felt Tavares failed to hold up Stellantis' end of the bargain — as well as North American auto dealers. Frustrated U.S. Stellantis dealers took an extraordinary step in September to write a public letter chastising Tavares and the company's operations. Calling Tavares' leadership "reckless," the dealers said their hallmark American brands were floundering. "The reckless short-term decision-making to secure record profits in 2023 has had devastating, yet entirely predictable, consequences in the U.S. market," the letter read. Filosa, though, has generally received positive marks from North American dealers who feel he is more in tune with their market. According to analyst Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, the move to emphasize North America makes sense from a business perspective. Note to the next Stellantis CEO: First thing, kill these 4 brands "North America is the most important region to Stellantis on a profit level," Fiorani said. "Between Ram and Jeep, the revenues from those brands correct any shortfalls from other brands around the world." Fiorani expects Stellantis to position the brands even more aggressively in the coming months. "In the next six months or a year, we should really see some solid moves to better position at least Jeep and Ram, if not the rest of the North American brand," Fiorani said. When Filosa served as chief operating officer of the Americas — a role he plans to continue — he worked from Chrysler Headquarters in Auburn Hills. Now at the top of the international company, Stellantis officials confirmed to the Free Press that Filosa and his family are staying in metro Detroit. To Fiorani, this might help mend some wounds from the Tavares era. "Filosa knows this is really important," Fiorani said. "Making sure that he is on the ground, in Detroit, is the first step toward (shoring up the stability of the company)." Before taking over as CEO, Filosa toured several North American plants, including the Detroit Assembly Complex and Sterling Stamping Plant. On his first day, Filosa named the brand's next top executives. Nearly all of the appointees came from within the company, with many beginning with affiliated brands prior to Stellantis' formation in 2021. While Filosa is posturing to lead the North American arm of the company, much of his leadership team is based in Europe. To Fiorani, the region from which the executives lead is less important than their experience. "They all have such deep backgrounds," Fiorani said. "This provides a world-class team, one the company likely hasn't seen in decades." The new team, while primarily homegrown, does not mean business as usual for the automaker. In fact, Fiorani said, their experience within the company is a plus. "Most of the people there have two decades of experience. The average among this group is nearly 21 years within some brand of Stellantis," Fiorani said. "They seem to live and breathe this company." The entire list of Stellantis' leadership team is as follows: Antonio Filosa, CEO, head of North America and American Brands. Doug Ostermann, CFO, mergers, acquisitions and joint ventures. Jean-Philippe Imparato, head of enlarged Europe and European brands, including Maserati. Emanuele Cappellano, head of South America, Stellantis Pro One (Stellantis' commercial vehicles business unit). Philippe de Rovira, head of the rest of the world and Stellantis financial services. Davide Mele, head of product planning. Ned Curic, head of product development and technology. Sébastien Jacquet, head of quality. Monica Genovese, head of purchasing. Scott Thiele, head of supply chain. Arnaud Deboeuf, head of manufacturing. Xavier Chéreau, head of human resources and sustainability. Clara Ingen-Housz, head of corporate affairs and communications. Liam Rappleye covers Stellantis and the UAW for the Detroit Free Press. Contact him: LRappleye@ This article originally appeared on Detroit Free Press: Stellantis CEO Filosa will lead international brand from Detroit Sign in to access your portfolio
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6 hours ago
- Business
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Incyte replaces CEO Hoppenot with dealmaker Meury
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. Incyte has named veteran pharmaceutical executive Bill Meury as its new CEO, replacing longtime head Hervé Hoppenot, who led the cancer and blood disease drugmaker for the past 11 years. Meury, whose appointment is effective immediately, previously ran Anthos Therapeutics, which he sold this year to Novartis for nearly $1 billion, and Karuna Therapeutics, which Bristol Myers Squibb bought for $14 billion in 2023. Prior to those posts, Meury was chief commercial officer at Allergan. Hoppenot will remain on Incyte's board of directors through the end of this year to aid Meury's transition into the CEO role. Alongside the succession, Julian Baker, managing partner of biotechnology investor Baker Bros. Advisors and lead independent director for Incyte, was elected board chair. Much of Hoppenot's time at Incyte focused on what he once described as 'single asset syndrome.' The company has had a good deal of success with Jakafi, a multipurpose drug approved to treat rare blood cancers and graft-versus-host disease. Last year, Jakafi brought in nearly $2.8 billion in sales. But Jakafi's main patents expire in 2028, a date that for years now has been on investors' radar as they've pressed Incyte on what it expects will take the drug's place. Early in Hoppenot's tenure, the answer looked like a cancer medicine called epacadostat, which Incyte believed could become a cornerstone of immunotherapy combinations. However, it flamed out in testing in 2018 and Incyte was forced to pivot research toward other candidates. Since then, Incyte has had some success building out its portfolio. The company now owns six other approved drugs, including a cream formulation of Jakafi's main ingredient that's proved useful treating atopic dermatitis and vitiligo. 'Hervé joined Incyte in 2014 when it was a single product, U.S.-only company,' said board member Baker, in a statement. 'During Hervé's tenure, Incyte launched six novel medicines plus two new indications for Jakafi, expanded commercial operations into Europe, Japan and Canada and grew revenues from $355 million dollars in 2013 to $4.2 billion today.' However, Incyte's other drugs don't make it much money. Jakafi and the cream formulation of the drug Incyte sells as Opzelura accounted for 91% of net product revenues last year. (The company also earned nearly $600 million in royalty revenues.) Stephen Willey, an analyst at Stifel, gives Hoppenot credit for increasing Incyte revenues by more than 10 times during his time as CEO. But, in a Thursday note to clients, he added that some investors grew frustrated with the company's high research and development spending without a clear post-Jakafi plan. Shaping those plans will now fall to Meury, who gained industry visibility by guiding his prior two companies to lucrative acquisitions. 'We expect the immediate reaction from investors will be an expectation that [Incyte] could now become an M&A target, simply because Mr. Meury sold Anthos ... and sold [Karuna],' wrote RBC Capital Markets analyst Brian Abrahams, in a note to clients. Shares in Incyte, which have fallen by 30% over the past five years, rose by more than 4% in Thursday morning trading on the CEO news. 'It has been a privilege to lead Incyte over the past eleven years,' Hoppenot said in the company's statement. 'I am proud to retire at a time when Incyte has the strongest management team, internal R&D pipeline and commercial portfolio ever.' Incyte expects multiple pivotal trial readouts this year, along with proof-of-concept data for several pipeline candidates. Recommended Reading Unblinded: Hervé Hoppenot on solving Incyte's 'single asset syndrome' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
