Latest news with #GCO
Business Wire
17-07-2025
- Business
- Business Wire
AM Best Affirms Credit Ratings of Occident GCO, S.A.U. de Seguros y Reaseguros
AMSTERDAM--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a+' (Excellent) of Occident GCO, S.A.U. de Seguros y Reaseguros (Occident) (Spain). The outlook of these Credit Ratings (ratings) is stable. The company is a wholly owned subsidiary of Grupo Catalana Occidente S.A. (GCO), the non-operating holding company of the GCO group. The ratings of Occident reflect its balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect the ratings lift from GCO, which reveals Occident's strategic importance to the GCO group, and its track record of financial and operational support from GCO. These rating actions acknowledge that in March 2025, GCO's majority shareholder, Inoc, S.A. (Inocsa), launched a voluntary takeover bid for all shares comprising the share capital of GCO, seeking the delisting of GCO's shares from the Spanish Stock Exchange. The offer is subject to the mandatory authorization of the Spanish Securities Market Commission. Occident's risk-adjusted capitalisation was at the strongest level at year-end 2024, as measured by Best's Capital Adequacy Ratio (BCAR). Additionally, the company's balance sheet strength assessment benefits from low reinsurance dependence, good liquidity and the absence of external debt. A partially offsetting factor is the company's lack of financial flexibility on a stand-alone basis, as capital is managed at the group level. Occident has a track record of strong operating performance, as evidenced by a five-year (2020-2024) weighted average return-on-equity and combined ratios of 21% and 88%, respectively, as calculated by AM Best, with balanced contributions from technical and investment incomes. The company has maintained strong and consistent underwriting performance across most non-life and life business segments despite competitive market conditions in its domestic market of Spain. Technical earnings are supported by its extensive agency network, which has been in place for a number of years and allows the organisation to manage the underwriting process tightly. Occident operates exclusively in Spain where it holds a top 10 position in several retail lines of business. The company benefits from a solid and diversified franchise with an established presence in all of Spain's regions and the various markets distribution channels. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Qatar Tribune
29-06-2025
- Business
- Qatar Tribune
Web Summit Qatar 2026 planning begins with strategic Dublin meeting
DUBLIN: The Permanent Web Summit Qatar Organising Committee convened with Web Summit leadership in Dublin this week to advance preparations for the 2026 edition as one of the Middle East and North Africa's largest technology events, which will take place from February 1-4 in Doha. The meeting was chaired by Sheikh Jassim bin Mansour bin Jabor Al Thani, Director of the Government Communications Office (GCO) and Chairman of the Permanent Web Summit Organising Committee. The session brought together committee members, including representatives from the Ministry of Interior and the Ministry of Foreign Affairs, along with key stakeholders from the Qatar Investment Authority and Qatar Airways. Also in attendance were Web Summit Founder and CEO Paddy Cosgrave and members of the summit's leadership team. The committee conducted a comprehensive review of the second edition, held in February 2025, establishing strategic priorities for the upcoming summit. Discussions centred on initiatives designed to strengthen the event's regional and global prominence while maximising its contributions to Qatar's National Vision. 'Web Summit has become a cornerstone of Qatar's journey towards establishing a robust knowledge-based economy and cementing our position as a global innovation hub,' Sheikh Jassim stated in his opening address. 'This event has served as a catalyst for strategic partnerships, entrepreneurial empowerment, and digital transformation, aligning seamlessly with the goals outlined in our Third National Development Strategy.' Sheikh Jassim added: 'Our planning sessions are focused on delivering a clear roadmap for continued summit growth. This includes enhancing content quality, attracting high-impact speakers, expanding international participation and delivering broader economic and cultural impact.' Sheikh Jassim also noted that the record turnout in the 2025 edition, which featured more than 25,000 attendees, marking a 67% increase from the inaugural event, reflects growing interest in Web Summit Qatar and reinforces its stature across the region. He emphasised that this momentum sets a high bar for delivering an exceptional 2026 edition next year. He reiterated the GCO's ongoing efforts to position the summit as a transformative platform that strengthens Qatar's role on the global innovation map and supports national development through the adoption of international best practices and full use of the country's unique strengths. The Web Summit team presented insights on the event's economic impact across host cities, including Doha. According to their findings, the event contributed to the growth of local startups, supported job creation and helped Qatar climb 14 places in global startup ecosystem rankings. The team projects that 30,000 participants will attend Web Summit Qatar 2026. Hosting Web Summit Qatar has delivered measurable results, advancing key strategic objectives while reinforcing Qatar's emergence as a leading global destination for digital innovation and entrepreneurship. Web Summit Qatar positions Doha as a key destination for innovators, investors and industry leaders. The event provides a forum for international dialogue on digital economy developments, supporting Qatar's efforts to build global partnerships in technology and entrepreneurship as part of the Qatar National Vision 2030. Founded in Dublin in 2009, Web Summit is the world's largest technology event, drawing over one million attendees globally through flagship events in Doha, Lisbon, Rio de Janeiro and Vancouver.
Yahoo
27-06-2025
- Business
- Yahoo
1 Russell 2000 Stock to Own for Decades and 2 to Keep Off Your Radar
Small-cap stocks in the Russell 2000 (^RUT) can be a goldmine for investors looking beyond the usual large-cap names. But with less stability and fewer resources than their bigger counterparts, these companies face steeper challenges in scaling their businesses. Picking the right small caps isn't easy, and that's exactly why StockStory exists - to help you focus on the best opportunities. Keeping that in mind, here is one Russell 2000 stock that could deliver strong gains and two best left off your watchlist. Market Cap: $220.5 million Spanning a broad range of styles, brands, and prices, Genesco (NYSE:GCO) sells footwear, apparel, and accessories through multiple brands and banners. Why Is GCO Risky? Disappointing same-store sales over the past two years show customers aren't responding well to its product selection and in-store experience Eroding returns on capital from an already low base indicate that management's recent investments are destroying value Limited cash reserves may force the company to seek unfavorable financing terms that could dilute shareholders Genesco's stock price of $20.46 implies a valuation ratio of 12.9x forward P/E. If you're considering GCO for your portfolio, see our FREE research report to learn more. Market Cap: $3.99 billion Founded in 2005, SoundHound AI (NASDAQ:SOUN) develops independent voice artificial intelligence solutions that enable businesses across various industries to offer customized conversational experiences to consumers. Why Does SOUN Give Us Pause? Gross margin of 44.1% is way below its competitors, leaving less money to invest in areas like marketing and R&D Operating margin dropped by 39 percentage points over the last year as the company focused on expansion rather than profitability Negative free cash flow raises questions about the return timeline for its investments At $9.96 per share, SoundHound AI trades at 25x forward price-to-sales. Dive into our free research report to see why there are better opportunities than SOUN. Market Cap: $3.3 billion Founded in the aftermath of the 2008 housing crisis to bring new capacity to the mortgage insurance market, NMI Holdings (NASDAQ:NMIH) provides mortgage insurance that protects lenders against losses when homebuyers default on their mortgage loans. Why Will NMIH Outperform? Annual net premiums earned growth of 9.6% over the last two years beat the sector average and underscores the value of its insurance products Underwriting operating profits increased over the last four years as the company gained some leverage on its fixed costs and became more efficient Annual book value per share growth of 15.9% over the past five years was outstanding, reflecting strong capital accumulation this cycle NMI Holdings is trading at $42.24 per share, or 1.3x forward P/B. Is now a good time to buy? Find out in our full research report, it's free. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today Sign in to access your portfolio
Yahoo
05-06-2025
- Business
- Yahoo
Truist Raises Genesco Inc. (GCO)'s Price Target by $2
Truist has raised its price target on Genesco Inc. (NYSE:GCO) from $23 to $25, while maintaining a Hold rating on the stock. A model wearing the newest apparel and accessories from the company, showcasing their up-to-date fashion sense. This comes after Genesco Inc. (NYSE:GCO) reported strong first-quarter results and maintained its full-year profits per share target, despite the company's current tariff implications. Investors can take confidence from its Journeys brand's excellent momentum. The company listed a few difficulties, such as select price increases that are expected later in the year and possible impacts on the gross margin from sourcing and efficiency initiatives. The way that customers will react to these changes is unclear, though. Although Truist is upbeat about the Journeys brand's development, it is nonetheless wary of the macroeconomic conditions and potential changes in consumer demand. While we acknowledge the potential of GCO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None.
Yahoo
04-06-2025
- Business
- Yahoo
Genesco: Fiscal Q1 Earnings Snapshot
NASHVILLE, Tenn. (AP) — NASHVILLE, Tenn. (AP) — Genesco Inc. (GCO) on Wednesday reported a loss of $21.2 million in its fiscal first quarter. The Nashville, Tennessee-based company said it had a loss of $2.02 per share. Losses, adjusted for one-time gains and costs, were $2.05 per share. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $2.09 per share. The seller of footwear, hats, clothing and accessories posted revenue of $474 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $463.2 million. Genesco expects full-year earnings in the range of $1.30 to $1.70 per share. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GCO at
