Latest news with #EricClark
Yahoo
3 days ago
- Business
- Yahoo
This CEO explains how the trade war upends global supply chains
Tariff uncertainty has companies doubling down on supply chains. Eric Clark, CEO and president of supply-chain technology provider Manhattan Associates (MANH), joins Market Catalysts to discuss how companies are leaning into supply chain technology to navigate uncertainty and maintain strategic operations. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Supply chain technology provider Manhattan Associates reporting second quarter results earlier this week boosted by demand for its cloud services. Joining me now is Eric Clark, Manhattan Associate CEO and president. Good to see you, Eric. Thank you for joining us. Before I sort of dive into your numbers, I do want to talk about tariffs and the trade war because obviously, your clients are sitting at the intersection of all of those cross currents. What are you hearing from clients right now as to sort of how they're navigating the tariffs? Yeah. Well, first of all, thanks for having me. And what we're seeing is early days when these tariffs were announced right after Liberation day, lots of customers maybe went into a little bit of a pause mode to try to predict what was going to happen or to try to understand the uncertainty. Since then, I think people have understood that this isn't going to be quick, and some of these deadlines are going to move. And it's going to take some time. So the forward leaning companies are really getting back to their strategies and executing their strategies. And I think it's not too dissimilar to what we've seen with other supply chain disruptions like COVID and bridge collapses, et cetera. While there's a little bit of a pause in the beginning, I think it very quickly confirms the fact that supply chain is mission critical software. And this is not an area that companies are going to pause or delay for a long time. This is an area that they consider not only mission critical, but strategic. At the beginning of the year, we were also seeing not just some contracts being paused, but the opposite in some cases, right? Orders coming in to try to sort of front run the tariffs to build up inventory. Is that inventory now? Has it been worked down? Are we how, in other words, I guess right now, how would flows compare to normal conditions? Yeah, it varies across industry, and, you know, what we're seeing from our customers is they're trying to be prepared for whatever might come next. And from a software perspective, that's what we do. You know, we can help them be prepared and make sure that they can react and have their correct strategies and agility so that they can do the things that they need to do in real time. And so when it comes to your business, I know that a lot of the contracts that you all sign are sort of longer term contracts, right? Have you seen any disruption to that? Have you seen any of your customers sort of pulling back on spending amidst all of this? You know, it's interesting, as you mentioned, we announced earnings earlier this week, and we had a strong Q2 and a strong first half. It was a beaten raised quarter, and with really strong margin expansion. And when you look at, you know, the difficult and uncertain macroeconomic environment, the past three quarters at Manhattan have been our strongest bookings, sales quarters in the history of the company. So you can argue that all three of those quarters were, if not challenging, at least changing macro environment, and we continue to do well from a bookings performance. And not only that, but new logo bookings has been the strength of our bookings performance. So we're able to actually go out there and take market share from our competitors. And you know, that also gives us opportunity to continue to expand and cross-sell into those customers in the future. So we're feeling really good about the commitments that our customers are making and that customers in the supply chain space are making with their supply chain software. And Eric, would you say I think sort of during the pandemic, we all paid a lot more attention to supply chains than we ever had, of course, because they were affecting us directly. But there was also a lot of discussion about how antiquated the systems were, both the actual physical infrastructure, but also sort of the things that you help people do now, right? That that stuff was sort of obsolete in many cases. Where are we now? And how much further does supply chain modernization need to go? Well, I think we're in the early days of supply chain modernization. And at Manhattan, I think we're rated a leader across our product portfolio, and I think we're really the only true cloud-based SAS provider across the supply chain space. And that's why we continue to have high win rates in the market, and that's why we continue to drive that expansion with these strong bookings quarters. Again, I point to with this uncertainty in the market, it is confirming the fact that this is mission critical software and confirming the fact that this needs to be part of the strategy. And that's why people are really leaning into the modern technology that we can offer. Eric, thanks so much for joining us. Appreciate it. Yeah, thank you. Related Videos BlackRock's Rick Rieder: I Think Rates Can Come Down Elon Musk's 'master plan': Is Tesla an EV maker or AI play? How meme stock mania is a 'sign of the times' 'We ask for more data' than FICO: VantageScore CEO 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
Business Wire
22-07-2025
- Business
- Business Wire
Manhattan Associates Reports Second Quarter Results
ATLANTA--(BUSINESS WIRE)--Leading Supply Chain and Omnichannel Commerce Solutions provider Manhattan Associates Inc. (NASDAQ: MANH) today reported revenue of $272.4 million for the second quarter ended June 30, 2025. GAAP diluted earnings per share for Q2 2025 was $0.93 compared to $0.85 in Q2 2024. Non-GAAP adjusted diluted earnings per share for Q2 2025 was $1.31 compared to $1.18 in Q2 2024. 'Manhattan delivered record second quarter results. Solid demand drove Q2 cloud revenue growth of 22% and RPO surpassing the $2 billion milestone,' said Manhattan Associates president and CEO Eric Clark. 'While the global macro environment remains challenging, we believe our cloud platform leadership advantage positions Manhattan as the clear choice for modern supply chain commerce solutions. We remain optimistic about our business fundamentals and our sustained growth opportunity. As technology and innovation cycles continue to accelerate, our unified cloud platform allows us to increase our leadership advantage over our competitors, expand our addressable market, and drive optimal results for our customers,' Mr. Clark concluded. SECOND QUARTER 2025 FINANCIAL SUMMARY: Consolidated total revenue was $272.4 million for Q2 2025, compared to $265.3 million for Q2 2024. Cloud subscription revenue was $100.4 million for Q2 2025, compared to $82.4 million for Q2 2024. License revenue was $1.5 million for Q2 2025, compared to $3.1 million for Q2 2024. Services revenue was $128.9 million for Q2 2025, compared to $136.8 million for Q2 2024. GAAP diluted earnings per share was $0.93 for Q2 2025, compared to $0.85 for Q2 2024. Adjusted diluted earnings per share, a non-GAAP measure, was $1.31 for Q2 2025, compared to $1.18 for Q2 2024. GAAP operating income was $73.8 million for Q2 2025, compared to $68.2 million for Q2 2024. Adjusted operating income, a non-GAAP measure, was $101.1 million for Q2 2025, compared to $92.9 million for Q2 2024. Cash flow from operations was $74.0 million for Q2 2025, compared to $73.3 million for Q2 2024. Days Sales Outstanding was 70 days at June 30, 2025, compared to 72 days at March 31, 2025. Cash totaled $230.6 million at June 30, 2025, compared to $205.9 million at March 31, 2025. During the three months ended June 30, 2025, the Company repurchased 262,341 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors for a total investment of $49.6 million. In July 2025, our Board of Directors replenished the Company's remaining share repurchase authority to an aggregate of $100.0 million of our common stock. SIX MONTH 2025 FINANCIAL SUMMARY: Consolidated total revenue for the six months ended June 30, 2025, was $535.2 million, compared to $519.9 million for the six months ended June 30, 2024. Cloud subscription revenue was $194.7 million for the six months ended June 30, 2025, compared to $160.4 million for the six months ended June 30, 2024. License revenue was $10.8 million for the six months ended June 30, 2025, compared to $5.9 million for the six months ended June 30, 2024. Services revenue was $250.0 million for the six months ended June 30, 2025, compared to $269.0 million for the six months ended June 30, 2024. GAAP diluted earnings per share for the six months ended June 30, 2025, was $1.78, compared to $1.71 for the six months ended June 30, 2024. Adjusted diluted earnings per share, a non-GAAP measure, was $2.50 for the six months ended June 30, 2025, compared to $2.21 for the six months ended June 30, 2024. GAAP operating income was $137.0 million for the six months ended June 30, 2025, compared to $125.8 million for the six months ended June 30, 2024. Adjusted operating income, a non-GAAP measure, was $192.3 million for the six months ended June 30, 2025, compared to $172.6 million for the six months ended June 30, 2024. Cash flow from operations was $149.3 million for the six months ended June 30, 2025, compared to $128.0 million for the six months ended June 30, 2024. During the six months ended June 30, 2025, the Company repurchased 801,669 shares of Manhattan Associates common stock under the share repurchase program authorized by our Board of Directors, for a total investment of $149.6 million. In July 2025, our Board of Directors replenished the Company's remaining share repurchase authority to an aggregate of $100.0 million of our common stock. 2025 GUIDANCE Manhattan Associates provides the following revenue, operating margin, and diluted earnings per share guidance for the full year 2025: Manhattan Associates currently intends to make public certain expectations with respect to future financial performance. Those statements, including the guidance provided above, are forward looking. Actual results may differ materially. See our cautionary note regarding 'forward-looking statements' below. Manhattan Associates will make this earnings release and a recording of the conference call referenced below available on the investor relations section of the Manhattan Associates website at Following publication of this earnings release, any expectations with respect to future financial performance contained in this release or the conference call, including the guidance, should be considered historical only, and Manhattan Associates disclaims any obligation to update them. CONFERENCE CALL Manhattan Associates' conference call regarding its second quarter financial results will be held today, July 22, 2025, at 4:30 p.m. Eastern Time. The Company will also discuss its business and expectations for the year and next quarter in additional detail during the call. We invite investors to a live webcast of the conference call through the Investor Relations section of the Manhattan Associates website at To listen to the live webcast, please go to the website at least 15 minutes before the call to download and install any necessary audio software. The Internet webcast will be available until Manhattan Associates' third quarter 2025 earnings release. GAAP VERSUS NON-GAAP PRESENTATION Manhattan Associates provides adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share in this press release as additional information regarding the Company's historical and projected operating results. These measures are not in accordance with, or alternatives to, GAAP, and may be different from similarly titled non-GAAP measures used by other companies. The Company believes the presentation of these non-GAAP financial measures facilitates investors' ability to understand and compare the Company's results and guidance, because the measures provide supplemental information in evaluating the operating results of its business, as distinct from results that include items not indicative of ongoing operating results, and because the Company believes its peers typically publish similar non-GAAP measures. This release should be read in conjunction with the Company's Form 8-K earnings release filing for the three and six months ended June 30, 2025. Non-GAAP adjusted operating income and margin, adjusted income tax provision, adjusted net income, and adjusted diluted earnings per share exclude the impact of equity-based compensation, an expense related to an unusual health insurance claim, and restructuring expense – net of income tax effects, collectively. They also exclude the tax benefits or deficiencies of vested stock awards caused by differences in the amount deductible for tax purposes from the compensation expense recorded for financial reporting purposes. We include reconciliations of the Company's GAAP financial measures to non-GAAP adjustments in the supplemental information attached to this release. ABOUT MANHATTAN ASSOCIATES Manhattan Associates is a global technology leader in supply chain and omnichannel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology, and unmatched experience help drive both top-line growth and bottom-line profitability for our customers. Manhattan Associates designs, builds, and delivers leading edge cloud solutions so that across the store, through your network, or from your fulfillment center, you are ready to reap the rewards of the omnichannel marketplace. For more information, please visit This press release contains 'forward-looking statements' relating to Manhattan Associates, Inc. Forward-looking statements in this press release include, without limitation, the information set forth under '2025 Guidance' and statements identified by words such as 'may,' 'expect,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'could,' 'seek,' 'project,' 'estimate,' and similar expressions. Prospective investors are cautioned that any of those forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by those forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by those forward-looking statements are: economic conditions, including disruption and transformation in the retail sector and our vertical markets; delays in product development; competitive and pricing pressures; software errors and information technology failures, disruption and security breaches; risks related to our products' technology and customer implementations; global instability, including the wars in Ukraine and the Middle East; and the other risk factors set forth in Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and in Item 1A of Part II in subsequent Quarterly Reports on Form 10-Q. Manhattan Associates undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results. Reconciliation of Selected GAAP to Non-GAAP Measures (in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Operating income $73,788 $68,188 $136,960 $125,818 Equity-based compensation (a) 24,275 24,666 53,101 46,761 Unusual health insurance claim (c) 3,000 - (658 ) - Restructuring expense (d) 8 - 2,937 - Adjusted operating income (Non-GAAP) $101,071 $92,854 $192,340 $172,579 Income tax provision $17,723 $16,336 $29,650 $21,161 Equity-based compensation (a) 3,156 3,848 7,496 7,284 Tax benefit of stock awards vested (b) 61 327 3,603 8,484 Unusual health insurance claim (c) 724 - (159 ) - Restructuring expense (d) 1 - 708 - Adjusted income tax provision (Non-GAAP) $21,665 $20,511 $41,298 $36,929 Net income $56,780 $52,766 $109,362 $106,567 Equity-based compensation (a) 21,119 20,818 45,605 39,477 Tax benefit of stock awards vested (b) (61 ) (327 ) (3,603 ) (8,484 ) Unusual health insurance claim (c) 2,276 - (499 ) - Restructuring expense (d) 7 - 2,229 - Adjusted net income (Non-GAAP) $80,121 $73,257 $153,094 $137,560 Diluted EPS $0.93 $0.85 $1.78 $1.71 Equity-based compensation (a) 0.35 0.34 0.74 0.63 Tax benefit of stock awards vested (b) - (0.01 ) (0.06 ) (0.14 ) Unusual health insurance claim (c) 0.04 - (0.01 ) - Restructuring expense (d) - - 0.04 - Adjusted diluted EPS (Non-GAAP) $1.31 $1.18 $2.50 $2.21 Fully diluted shares 61,074 62,118 61,300 62,305 Expand a) Adjusted results exclude all equity-based compensation, as detailed below, to facilitate comparison with our peers and for the other reasons explained in our Current Report on Form 8-K filed with the SEC. We do not receive a GAAP tax benefit for a portion of our equity-based compensation, mainly because of Section 162(m) of the Internal Revenue Code, which limits tax deductions for compensation granted to certain executives. Expand Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Cost of services $10,513 $11,358 $21,938 $20,647 Research and development 5,674 5,455 11,632 10,695 Sales and marketing 1,121 2,116 3,427 4,106 General and administrative 6,967 5,737 16,104 11,313 Total equity-based compensation $24,275 $24,666 $53,101 $46,761 Expand (b) Adjustments represent the excess tax benefits and tax deficiencies of the equity awards vested during the period. Excess tax benefits (deficiencies) occur when the amount deductible on our tax return for an equity award is more (less) than the cumulative compensation cost recognized for financial reporting purposes. As discussed above, we exclude equity-based compensation from adjusted non-GAAP results to be consistent with other companies in the software industry and for the other reasons explained in our Current Report on Form 8-K filed with the SEC. Therefore, we also exclude the related tax benefit (expense) generated upon their vesting. (c) In the fourth quarter of 2024, we recorded $7.0 million of expense for an unusual health insurance claim. During the first quarter of 2025, we received an insurance recovery of $4.7 million for this claim, partially offset by $1.0 million of ongoing expense for the claim. During the second quarter of 2025, we recorded an additional $3.0 million of expense for this unusual health insurance claim. Based on the uncommonly large magnitude and nature of the claim, we do not believe that this expense reflects our normal operating activities, and we have excluded the amount from adjusted non-GAAP results. (d) In January 2025, the Company eliminated about 100 positions to align our services capacity with customer demand, which has been impacted by macro-economic uncertainty. We recorded pre-tax restructuring expense in the first quarter of 2025 of approximately $2.9 million. The expense primarily consists of employee severance and outplacement services. We do not believe that the expense is a common cost that resulted from normal operating activities, and thus we have excluded the amount from adjusted non-GAAP results. Expand MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except share and per share data) June 30, 2025 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 230,593 $ 266,230 Accounts receivable, net 209,843 205,475 Prepaid expenses and other current assets 42,910 31,559 Total current assets 483,346 503,264 Property and equipment, net 15,984 13,971 Operating lease right-of-use assets 47,339 47,923 Goodwill, net 62,244 62,226 Deferred income taxes 99,495 94,505 Other assets 36,276 35,662 Total assets $ 744,684 $ 757,551 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 23,897 $ 26,615 Accrued compensation and benefits 61,165 72,180 Accrued and other liabilities 22,001 22,275 Deferred revenue 299,836 277,970 Income taxes payable 266 1,264 Total current liabilities 407,165 400,304 Operating lease liabilities, long-term 48,585 47,794 Other non-current liabilities 10,175 10,327 Shareholders' equity: Preferred stock, no par value; 20,000,000 shares authorized, no shares issued or outstanding in 2025 and 2024 - - Common stock, $0.01 par value; 200,000,000 shares authorized; 60,468,401 and 60,921,191 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 604 609 Retained earnings 304,480 329,439 Accumulated other comprehensive loss (26,325 ) (30,922 ) Total shareholders' equity 278,759 299,126 Total liabilities and shareholders' equity $ 744,684 $ 757,551 Expand MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (in thousands) Six Months Ended June 30, 2025 2024 (unaudited) (unaudited) Operating activities: Net income $ 109,362 $ 106,567 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,125 2,982 Equity-based compensation 53,101 46,761 Gain on disposal of equipment (21 ) (124 ) Deferred income taxes (4,957 ) (12,519 ) Unrealized foreign currency loss 1,032 610 Changes in operating assets and liabilities: Accounts receivable, net 1,197 (11,153 ) Other assets (7,416 ) (2,088 ) Accounts payable, accrued and other liabilities (16,478 ) (18,082 ) Income taxes (4,505 ) (7,043 ) Deferred revenue 14,870 22,089 Net cash provided by operating activities 149,310 128,000 Investing activities: Purchase of property and equipment (4,871 ) (4,538 ) Net cash used in investing activities (4,871 ) (4,538 ) Financing activities: Repurchase of common stock (186,638 ) (189,546 ) Net cash used in financing activities (186,638 ) (189,546 ) Foreign currency impact on cash 6,562 (1,948 ) Net change in cash and cash equivalents (35,637 ) (68,032 ) Cash and cash equivalents at beginning of period 266,230 270,741 Cash and cash equivalents at end of period $ 230,593 $ 202,709 Expand MANHATTAN ASSOCIATES, INC. SUPPLEMENTAL INFORMATION 1. GAAP and adjusted earnings per share by quarter are as follows: 2024 2025 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr YTD Adjustments to GAAP: Equity-based compensation 0.30 0.34 0.33 0.31 1.27 0.40 0.35 0.74 Tax benefit of stock awards vested (0.13 ) (0.01 ) (0.01 ) - (0.15 ) (0.06 ) - (0.06 ) Restructuring expense - - - - - 0.04 - 0.04 Unusual health insurance claim - - - 0.09 0.09 (0.05 ) 0.04 (0.01 ) Adjusted Diluted EPS $1.03 $1.18 $1.35 $1.17 $4.72 $1.19 $1.31 $2.50 Fully Diluted Shares 62,493 62,118 61,948 62,009 62,183 61,527 61,074 61,300 Expand 3. Impact of Currency Fluctuation The following table reflects the increases (decreases) in the results of operations for each period attributable to the change in foreign currency exchange rates from the prior period as well as foreign currency gains (losses) included in other income, net for each period (in thousands): 2024 2025 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Full Year 1st Qtr 2nd Qtr YTD Revenue $648 $(531 ) $936 $316 $1,369 $(1,591 ) $2,724 $1,133 Costs and expenses 176 (673 ) 211 (227 ) (513 ) (1,966 ) 1,180 (786 ) Operating income 472 142 725 543 1,882 375 1,544 1,919 Foreign currency gains (losses) in other income (564 ) (577 ) (331 ) 519 (953 ) 131 (65 ) $66 $(92 ) $(435 ) $394 $1,062 $929 $506 $1,479 $1,985 Expand 7. Remaining Performance Obligations We disclose revenue that we expect to recognize from our remaining performance obligations ("RPO"). Over 98% of our RPO represents cloud native subscriptions with non-cancelable terms greater than one year (including cloud-deferred revenue as well as amounts we will invoice and recognize as revenue from our performance of cloud services in future periods). Maintenance contracts are typically one year and not included in the RPO. Our RPO as of the end of each period appears below (in thousands): March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 March 31, 2025 June 30, 2025 Expand
Canada News.Net
02-07-2025
- Business
- Canada News.Net
U.S. stocks end mixed Wednesday, Dow Jones dips 11 points
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time high, while the Dow Jones edged lower. "Through the trees it's clear that lower growth because of higher U.S. debt and demographics and higher inflation is going to be the outcome," Rational Dynamic Brands Fund portfolio manager Eric Clark told CNBC Wednesday. "So the market will start looking at that and more closely scrutinizing definitely some kind of reckoning to come." Here are Wednesday'se closing quotes for key U.S. indices: Standard and Poor's 500: Rose 0.47 percent to close at 6,227.42, a new high, gaining 29.41 points as communication services and tech sectors outperformed. Dow Jones Industrial Average: Slipped marginally by 0.02 percent, dipping 10.52 points to 44,484.42 amid weakness in healthcare stocks. NASDAQ Composite: Jumped 0.94 percent or 190.24 points to 20,393.13, marking its best day in two weeks as megacap tech stocks rallied. Key Market Drivers Technology stocks spearheaded Wednesday's advance after positive earnings guidance from several semiconductor firms. The Nasdaq's strong performance contrasted with the Dow's stagnation as investors weighed mixed economic data ahead of Friday's key jobs report. "The market is showing selective risk appetite," said chief strategist Linda Parker. "While tech continues to attract buyers, there's clear hesitation in cyclicals until we get clearer signals on economic growth." Trading volumes were robust, with the NYSE seeing 3.1 billion shares traded and the Nasdaq processing 7.4 billion shares. Global Forex Markets Wrap: Dollar Mixed as Euro, Pound Slide on Wednesday The U.S. dollar showed mixed performance in Wednesday's trading session, gaining against European currencies while weakening slightly against commodity-linked currencies. The British pound dived as bond prices fell, sending yields significantly higher. Prime Minister Keir Starmer unsettled markets by failing to fully support Finance Minister Rachel Reeves iaftera government U-turnover welfare reform. Here are the key movements in major currency pairs: Major Currency Pairs EUR/USD: The euro dipped 0.04 percent to $1.1801 as ECB policy uncertainty weighed on sentiment. USD/JPY: The dollar gained 0.14 percent to ¥143.59, continuing its upward trend amid widening U.S.-Japan yield differentials. GBP/USD: Sterling tumbled 0.80 percent to $1.3632, marking its worst daily performance in three weeks following political turmoil. Commodity Currencies USD/CAD: The greenback fell 0.39 percent to C$1.3591 as oil price recovery supported the loonie. AUD/USD: The Aussie dollar edged up 0.09 percent to $0.6587 despite weaker-than-expected retail sales data. NZD/USD: The kiwi dollar slipped 0.12 percent to $0.6090 as risk appetite waned in Asian trading. Safe Havens USD/CHF: The dollar gained modest ground, rising 0.04 percent to CHF 0.7912 in thin European trading. Market Drivers Forex traders digested mixed signals from central banks, with the Federal Reserve's hawkish stance continuing to support the dollar index. The pound's sharp decline dominated European trading, while commodity currencies showed resilience despite broader risk-off sentiment. "The dollar's strength remains selective," said currency strategist Mark Chandler. "While it's gaining against funding currencies like the euro and yen, it's struggling against commodity exporters when risk sentiment improves even slightly." Forex markets now await Thursday's U.S. PCE inflation data for fresh clues on Fed policy direction. Global Markets Wrap: Mixed Performance Across Major Indices on Wednesday Global stock markets showed a mixed performance on Wednesday, with gains in Europe and Asia offset by declines in some key markets. Here's a detailed look at Wednesday's closing figures: Canada S&P/TSX Composite: Inched up 0.05 percent, adding 12.55 points to close at 26,869.66, with materials and financials offsetting energy sector declines. UK and Europe FTSE 100 (UK): The index dipped slightly, closing at 8,774.69, down 10.64 points or 0.12 percent. DAX (Germany): The German benchmark rose 0.49 percent, gaining 116.82 points to 23,790.11. CAC 40 (France): France's leading index climbed 0.99 percent, adding 75.83 points to 7,738.42. EURO STOXX 50: The pan-European index advanced 0.69 percent, closing at 5,318.72, up 36.29 points. BEL 20 (Belgium): The Belgian index edged down 0.09 percent, settling at 4,492.80. Asia and Pacific SSE Composite (Shanghai): China's Shanghai index dipped slightly, down 0.09 percent to 3,454.79. Hang Seng (Hong Kong): The index rose 0.62 percent, gaining 149.13 points to 24,221.41. STI (Singapore): Singapore's Straits Times Index added 0.53 percent, closing at 4,010.77. S&P/ASX 200 (Australia): The Australian benchmark climbed 0.66 percent, up 56.60 points to 8,597.70. All Ordinaries (Australia): The broader index gained 0.65 percent, finishing at 8,828.70. Nikkei 225 (Japan): Japan's key index fell 0.56 percent, dropping 223.85 points to 39,762.48. S&P BSE SENSEX (India): India's Sensex declined 0.34 percent, losing 287.60 points to 83,409.69. IDX Composite (Indonesia): The index slipped 0.49 percent, closing at 6,881.25. KOSPI (South Korea): South Korea's benchmark fell 0.47 percent, ending at 3,075.06. TWSE (Taiwan): Taiwan's index inched up 0.11 percent, closing at 22,577.74. KLSE (Malaysia): Malaysia's index gained 0.56 percent, rising 8.68 points to 1,550.21. S&P/NZX 50 (New Zealand): New Zealand's benchmark rose 0.39 percent, adding 49.76 points to 12,784.29. Middle East & Africa
Yahoo
05-06-2025
- Business
- Yahoo
Synovus accelerates growth in Atlanta with addition of new talent
COLUMBUS, Ga., June 05, 2025--(BUSINESS WIRE)--Synovus is accelerating its growth by adding new relationship managers in commercial and middle market banking and wealth services, reinforcing its commitment to delivering personalized, relationship-driven banking. The bank expects to increase its hiring of relationship managers by 20%-30% across target growth markets in the southeast over the next three years. "As we expand in high-opportunity markets throughout the southeast, we're investing in talented individuals who have a deep understanding of local economies and prioritize a client-centric approach with proactive financial guidance," said Synovus Chairman, CEO and President Kevin Blair. "Our relationship managers play a key role in building strong, lasting partnerships and making a meaningful impact in the communities we serve." Relationship managers bring extensive industry knowledge and proven expertise to help businesses and individuals navigate today's ever-changing economic landscape. Synovus is investing in top talent as it continues its transformative path to sustainable growth. Atlanta market additions: Eric Clark, commercial bankerClark has nearly 20 years of relationship management experience within the banking industry, working for various banks in the southeast. He joins Synovus from JP Morgan Chase. Will Clay, wholesale middle market relationship managerClay has extensive experience with clients in middle market banking from previous roles at Servis 1st Bank and BB&T. Robert Mann, commercial bankerMann brings 25 years of commercial banking experience as a sales and operations executive. A former tax commissioner in Gwinnett County, Georgia, Mann joins Synovus from Bank of America. The bank's focus on high-opportunity markets includes Atlanta, Georgia; Birmingham, Alabama; Charleston, Columbia, Greenville and Spartanburg, South Carolina; and Miami, Orlando and Tampa, Florida. Core relationship-based banking is fundamental to Synovus, and this growth strategy taps into the bank's existing networks to gain a stronger competitive edge in these markets. # # # Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and consumer banking in addition to a full suite of specialized products and services, including wealth services, treasury management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. Synovus has branches in Georgia, Alabama, Florida, South Carolina and Tennessee. Synovus is a Great Place to Work-Certified Company. Learn more about Synovus at Forward-Looking Statements This press release contains statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus' use of words such as "believes," "anticipates," "expects," "may," "will," "assumes," "should," "predicts," "could," "would," "intends," "targets," "estimates," "projects," "plans," "potential" and other similar words and expressions of the future or otherwise regarding the outlook for Synovus' future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements are based upon information presently known to Synovus' management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2024, under the captions "Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors" and in Synovus' quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law. View source version on Contacts Audria BeltonMedia Relationsmedia@
Yahoo
20-05-2025
- Business
- Yahoo
Manhattan Associates rolls out new supply chain offerings at CEO's debut
LAS VEGAS – The annual meeting of software and technology service providers generally brings in hundreds if not thousands of customers and partners and gives companies an opportunity to roll out new capabilities. But at Manhattan Associates' (NASDAQ: MANH) Momentum conference here, it was also the debut of the supply chain software provider's new CEO, Eric Clark. Clark took over from legendary CEO Eddie Capell in February in a head-turning move that at first may have looked like an ouster but actually was just a quicker-than-usual transition. Clark is taking over a company whose stock has had some wild swings in the past year. It was trading Tuesday at about $190 per share; its 52-week high was $312.60 in December; it's up about 16.5% in the past month. Its 52-week low of $140.81 was recorded on April 7, a day when equity markets plummeted and the Nasdaq was down 5.8%.But for a meeting like Momentum, the focus is on the software and what new things it can do. And if it's a conference in 2025, that means a focus on AI. One of the two products announced at Momentum was for new offerings in agentic AI. While the focus at last year's Momentum conference was on generative AI through its Maven product, agentic AI derives its name from AI 'agents' that, the company said, are built into the Manhattan Active platform to 'autonomously perfect tasks, adapt to changing conditions and dynamically orchestrate workflows.' But the agentic AI offerings do not stop with the five products that Manhattan announced at Momentum: Intelligent Store Manager, Labor Optimizer Agent, Wave Inventory Research Agent, Contextual Data Assistant and Virtual Configuration Consultant. Rather, the Manhattan Foundry, as it has been called, allows its customers two other pathways to acquire agents they might need but which are not provided off the shelf by Manhattan. Foundry was announced as part of the agentic AI pathway is for customers to build an agentic AI application themselves and work it through Manhattan Active. The second would be for a customer with a specific need to seek out a developer of an agentic AI agent – which might be Manhattan itself – and create the application that would then reside on Active. 'Customers can now create specialized agents tailored to their unique processes and preferences, drastically reducing time-to-value, increasing automation scalability, enhancing productivity, and delivering tangible business value,' Manhattan said in a prepared statement announcing Foundry. 'They can also lean on Manhattan or third-party partners to develop these specialized agents.' In his opening remarks to Momentum, Clark said the agentic AI offerings 'will think and reason multiple steps ahead, working on your behalf and under your supervision, acting autonomously to complete their assignments.' 'Your team can roll up their sleeves and build their own AI agents on our platform,' he said. 'Or you can ask us to go build specialized agents for you.' On the same day that Google was announcing changes that would benefit channel partners on its Google Marketplace service, Manhattan also said that all its offerings on the Manhattan Active platform would be available on Google Marketplace. The expanded deal with Google – Active was already hosted on Google Cloud – would enable a user to make its entry into Manhattan's world through Google Marketplace, as opposed to buying through Manhattan itself. A key word that Manhattan has used for several years is 'unification.' The concept is that the various Manhattan offerings, whether it's, for example, the warehouse management system or the transportation management system, would reside together on the Manhattan Active platform. This eliminates the need for a company that is a user of more than one Manhattan technology offering to utilize them as siloes with little crossover. Brian Kinsella, Manhattan's senior vice president for product management who addressed the opening session, said many of the initial benefits from unification when it was rolled out in recent years 'were technical in nature.' He ticked off a list: a 'common data store, a common set of APIs, a common user interface and a common log on, log off.'Kinsella gave an example of where unification can provide insights that might not be available in siloed applications. He referred to 'dynamic trailer door assignment' for inbound freight. Live loads are 'coming in, checking into the gate. Maybe they're early, maybe they're late.''What you're trying to do is maximize the utilization of those dock doors and your receiving labor throughout the course of the day while still getting those live loads handled on time,' Kinsella said. Coordinating the labor needs alongside the inbound traffic can only happen in a unified system, according to Kinsella. At the same time, a TMS arranging outbound freight traffic can draw on unified information regarding inventories. 'First we check to see whether you actually even have the inventory to be able to allocate in the coming hours,' Kinsella said. From there, he listed a wide range of necessary information to maximize efficiency that now can more easily interact with each other in a unified system that was not possible in the past. 'It's really a game changer, and it helps you move to a whole new level of agility and better customer outcomes,' he added. As for the transition in Manhattan Associates' C-suite, Capell, who is staying on as executive chairman, spoke briefly to launch the morning session. But he turned Momentum over to Clark rapidly. 'It's time for new possibilities, new challenges, new strategy and new innovation,' Capell said, describing Clark as 'the person who will lead Manhattan as we conquer new horizons together.' More articles by John Kingston Connectivity, generative AI's impact key supply chain software themes at NRF '25 3 supply chain software providers tell their latest stories at NRF Manhattan Associates' growing supply chain problem: Slow-closing software deals The post Manhattan Associates rolls out new supply chain offerings at CEO's debut appeared first on FreightWaves.
