Latest news with #IAC
Yahoo
8 hours ago
- Automotive
- Yahoo
Netflix, Rivian, Microsoft: Trending Tickers
Netflix (NFLX) is reportedly expanding its efforts to make unscripted TV, with the streaming giant reportedly meeting with Spotify (SPOT) and The Daily Beast, owned by IAC (IAC), according to The Wall Street Journal. Rivian's (RIVN) second quarter production numbers fell short of Wall Street's expectations, putting downward pressure on the electric vehicle (EV) maker. Microsoft (MSFT) is cutting roughly 9,000 workers — around 4% of staff. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Now time for some of today's trending tickers. We are watching Netflix, Rivian, and yeah, Microsoft. First up, Netflix is upping its push into uns unscripted TV, reportedly exploring music shows and interviews according to the Wall Street Journal. The streaming juggernaut has reportedly held conversations with Spotify about partnering on projects like award shows and live concerts. Netflix is also working on a pilot program with the Daily Beast, focusing on non-political news events. The company has made efforts to expand its live TV offerings in the past. It's Mike Tyson, Jake Paul fight last fall was disrupted by some glitches though, but the two NFL games that hosted over Christmas, which included a Beyonce halftime show, had minimal disruptions. Thank goodness. Next up, Rivian shares falling after announcing it produced around half as many vehicles as Wall Street expected in the second quarter. A company spokesperson said output was limited to avoid producing too many 2025 models so close to the upcoming model year change, that's later this month. Rivian reaffirming its full-year delivery guidance of 40,000 to 46,000 vehicles. High end of that range would be an 11% drop from the prior year, and the company's first decline in annual sales. And finally here, Microsoft will cut around 9,000 jobs in another wave of layoffs this year as the tech giant looks to control costs while ramping up its AI spend. Microsoft recently laid off at least 300 employees in June and cut more than 6,000 jobs in May. The cuts this month will affect less than 4% of staff and will occur across different teams and offices. A Microsoft spokesperson says, quote, we continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace. Across the board, the tech industry is racing to keep up with AI spend. You can scan the QR code below to track the best and worst performing stocks with Yahoo Finances trending tickers page. 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
United News of India
2 days ago
- Politics
- United News of India
interest of local villagers should be considered first during industrial projects: IAC president
West Satara, June 30 (UNI) The rights of the locals should not be violated during the ongoing work of Adani Industrial Group's hydro project in Maharashtra's Satara district, National President of India Against Corruption (IAC) Hemant Patil said today. While doing any project, the interest of local villagers should be considered first, Patil said in a statement here. The project is coming up in the Tarli Dam area of Patan taluka. "We are requesting the authorities that the rights of the locals should not be violated and nature should not be harmed," Patil said in the statement. UNI SP SSP Tags: #interest of local villagers should be considered first during industrial projects: IAC president More News Minor girl on way to Pandharpur raped by unknown persons in Daund 30 Jun 2025 | 7:47 PM Pune, June 30 (UNI) In a shocking incident, devotees going to Pandharpur for the Ashadhi Wari Warkari religious festival were looted while a minor girl accompanying the devotees was raped near Swami Chincholi village in Daund taluka. see more.. Hindi not national language to impose on other states, MNS chief 30 Jun 2025 | 7:30 PM Mumbai, June 30 (UNI) Reacting on the Mahayuti government's announcement regarding the withdrawal of government resolutions mandating the teaching of Hindi in schools from Class 1, Maharashtra Navnirman Sena (MNS) chief Raj Thackeray today said that Hindi is not the national language but is the language of one region and hence, it cannot be imposed on other states. see more.. Dhananjay Munde meets CM, Dy CM, demands SIT inquiry into sexual assault of minor girl in Beed 30 Jun 2025 | 7:25 PM Mumbai, June 30 (UNI) Nationalist Congress Party leader and former minister, MLA Dhananjay Munde today met Chief Minister Devendra Fadnavis and Deputy Chief Minister and Guardian Minister of Beed district Ajit Dada Pawar at Vidhan Bhavan, Mumbai, in the case of sexual assault of a minor girl in Beed city and demanded that a Special Investigation Team (SIT) be formed to conduct an independent probe in the case. see more..
NBC News
24-06-2025
- Business
- NBC News
How a war-torn Myanmar plays a critical role in China's rare earth dominance
Beijing has been stepping up controls on rare earth exports, triggering global shortages and exposing industries' dependence on Chinese supply chains. However, over recent years, China itself has become reliant on rare earth supplies from an unexpected source: the relatively small and war-torn economy of Myanmar. While China is the world's top producer of rare earths, it still imports raw materials containing the coveted metals from abroad. Myanmar accounted for about 57% of China's total rare earth imports last year, Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, told CNBC. According to Chinese Customs data, Myanmar's rare earth exports to China significantly picked up in 2018 and reached a peak of nearly 42,000 metric tons by 2023. Baskaran added that the imports from Myanmar are also particularly high in heavy rare earth element contents, which are generally less abundant in the earth's crust, elevating their value and scarcity. 'Myanmar's production has significantly strengthened China's dominant position, effectively giving Beijing a de facto monopoly over the global heavy rare earths supply chain — and much of the leverage it wields today.' The country has become a key source of two highly sought-after heavy rare earths, dysprosium and terbium, that play crucial roles in high-tech manufacturing, including in defense and the military, aerospace and renewables sectors. 'This dynamic has given rise to a supply chain in which extraction is concentrated in Myanmar, while downstream processing and value addition are predominantly carried out in China,' said Baskaran. Why Myanmar? Myanmar is home to deposits that tend to have higher heavy rare earth content, David Merriman, research director at Project Blue, told CNBC. These 'ionic adsorption clay,' or IAC, deposits are exploited through leaching methods that apply chemical reagents to the clay — and that comes with high environmental costs. According to Merriman, the vast majority of the world's IAC operations were in Southern China in the early to mid-2010s. But, as Beijing began implementing new environmental controls and standards in the rare earths industry, many of these projects began to close down. 'Myanmar, particularly the north of the country, was seen as a key region which had similar geology to many of the IAC deposit areas within China,' Merriman said. 'You started to see quite a rapid buildout of new IAC-type mines within Myanmar, essentially replacing the domestic Chinese production. There was a lot of Chinese business involvement in the development of these new IAC projects.' The rare earths extracted by these IAC miners in Myanmar are then shipped to China mostly in the form of 'rare earth oxides' for further processing and refining, Yue Wang, a senior consultant of rare earths at Wood Mackenzie, told CNBC. In 2024, a report from Global Witness, a nonprofit focused on environmental and human rights abuses, said that China had effectively outsourced much of its rare earth extraction to Myanmar 'at a terrible cost to the environment and local communities.' China's rare earth risks China's reliance on Myanmar for rare earths has also opened it up to supply chain risks, experts said. According to Global Witness's research, most of the heavy rare earths from Myanmar originate from the Northern Kachin State, which borders China. However, following Myanmar's violent military coup in 2021, the military junta has struggled to maintain control of the territory amid opposition from the public and armed groups. 'Myanmar is a risky jurisdiction to rely on, given the ongoing civil war. In 2024, the Kachin Independence Army (KIA), a group of armed rebels, seized sites responsible for half the world's heavy rare earths production,' said CSIS' Baskaran. Since the seizure, there have been reports of supply disruptions causing spikes in the prices of some heavy rare earths. According to a Reuters report, the KIA was seeking to use the resources as leverage against Beijing. Chinese customs data shows imports of rare earth oxides from Myanmar fell by over a third in the first five months of the year compared with the same period last year. 'If Myanmar were to cease all exports of rare earth feed stocks to China, China would struggle to meet its demand for heavy rare earths in the short term,' said Project Blue's Merriman. Not surprisingly, Beijing has been looking to diversify its sources of heavy rare earths. According to Merriman, there are IAC deposits in nearby countries, including Malaysia and Laos, where some projects have been set up with Chinese involvement. Still, he notes that environmental standards are expected to be higher in those countries, which will present challenges for rare earth miners. China's decision to cut back on its own extraction of heavy rare earth elements may serve as a warning to other countries about the costs of developing such projects. A report by Chinese media group Caixin in 2022 documented how former IAC operation sites in Southern China had left behind toxic water and contaminated soil, hurting local farmers' livelihoods.
CNBC
24-06-2025
- Business
- CNBC
How a war-torn Myanmar plays a critical role in China's rare earth dominance
Beijing has been stepping up controls on rare earth exports, triggering global shortages and exposing industries' dependence on Chinese supply chains. However, over recent years, China itself has become reliant on rare earth supplies from an unexpected source: the relatively small and war-torn economy of Myanmar. While China is the world's top producer of rare earths, it still imports raw materials containing the coveted metals from abroad. Myanmar accounted for about 57% of China's total rare earth imports last year, Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, told CNBC. According to Chinese Customs data, Myanmar's rare earth exports to China significantly picked up in 2018 and reached a peak of nearly 42,000 metric tons by 2023. Baskaran added that the imports from Myanmar are also particularly high in heavy rare earth element contents, which are generally less abundant in the earth's crust, elevating their value and scarcity. "Myanmar's production has significantly strengthened China's dominant position, effectively giving Beijing a de facto monopoly over the global heavy rare earths supply chain — and much of the leverage it wields today." The country has become a key source of two highly sought-after heavy rare earths, dysprosium and terbium, that play crucial roles in high-tech manufacturing, including in defense and military, aerospace and renewables sector. "This dynamic has given rise to a supply chain in which extraction is concentrated in Myanmar, while downstream processing and value addition are predominantly carried out in China," said Baskaran. Myanmar is home to deposits that tend to have higher heavy rare earth content, David Merriman, research director at Project Blue, told CNBC. These "ionic adsorption clay" or IAC deposits are exploited through leaching methods that apply chemical reagents to the clay — and that comes with high environmental costs. According to Merriman, the vast majority of the world's IAC operations were in Southern China in the early to mid-2010s. But, as Beijing began implementing new environmental controls and standards in the rare earths industry, a lot of these projects began to close down. "Myanmar, particularly the North of the country, was seen as a key region which had similar geology to many of the IAC deposit areas within China," Merriman said. "You started to see quite a rapid build out of new IAC type mines within Myanmar, essentially replacing the domestic Chinese production. There was a lot of Chinese business involvement in the development of these new IAC projects." The rare earths extracted by these IAC miners in Myanmar are then shipped to China mostly in the form of "rare earth oxides" for further processing and refining, Yue Wang, a senior consultant of rare earths at Wood Mackenzie, told CNBC. In 2024, a report from Global Witness, a nonprofit focused on environmental and human rights abuses, said that China had effectively outsourced much of its rare earth extraction to Myanmar "at a terrible cost to the environment and local communities." China's reliance on Myanmar for rare earths has also opened it up to supply chain risks, experts said. According to Global Witness's research, most of the heavy rare earths from Myanmar originate from the Northern Kachin State, which borders China. However, following Myanmar's violent military coup in 2021, the military junta has struggled to maintain control of the territory amid opposition from the public and armed groups. "Myanmar is a risky jurisdiction to rely on, given the ongoing Civil War. In 2024, the Kachin Independence Army (KIA), a group of armed rebels, seized sites responsible for half the world's heavy rare earths production," said CSIS' Baskaran. Since the seizure, there have been reports of supply disruptions causing spikes in the prices of some heavy rare earths. According a Reuters report, the KIA was seeking to use the resources as leverage against Beijing. Chinese customs data shows, imports of rare earth oxides from Myanmar fell by over a third in the first five months of the year compared to the same period last year. "If Myanmar were to cease all exports of rare earth feed stocks to China, China would struggle to meet its demand for heavy rare earths in the short term," said Project Blue's Merriman. Not surprisingly, Beijing has been looking to diversify its sources of heavy rare earths. According to Merriman, there are IAC deposits in nearby countries, including Malaysia and Laos, where some projects have been set up with Chinese involvement. Still, he notes that environmental standards are expected to be higher in those countries, which will present challenges for rare earth miners. China's decision to cut back on its own extraction of heavy rare earth elements may serve as a warning to other countries about the costs of developing such projects. A report by Chinese media group Caixin in 2022 documented how former IAC operation sites in Southern China had left behind toxic water and contaminated soil, hurting local farmers' livelihoods.
Yahoo
23-06-2025
- Business
- Yahoo
IAC Inc. (IAC): A Bull Case Theory
We came across a bullish thesis on IAC Inc. on High Growth Investing's Substack by Stefan Waldhauser. In this article, we will summarize the bulls' thesis on IAC. IAC Inc.'s share was trading at $ 37.14 as of June 20th. Please note that the original thesis was published in November. A closeup of a digital newsroom, highlighting the complexity of the modern media landscape. IAC, a long-standing holding in the author's model portfolio, continues to trade well below intrinsic value, with shares at $47 and a $4.0 billion market cap following its Q3 2024 report. The planned 2025 spin-off of Angi, IAC's home services platform, represents the company's 10th such move and will distribute roughly 5 Angi shares per IAC share. Despite Angi's recent 30% price drop, restructuring efforts under new CEO Jeff Kip have stabilized the business, with an expected 2024 EBITDA of $130–150 million. Still, Angi trades at a steep discount to its improving fundamentals. IAC's 21.8% stake in MGM—worth ~$2.4 billion—is now its largest asset, growing due to MGM's ongoing buybacks. This alone nearly covers IAC's market cap when combined with $1.1 billion in cash. Thus, all other holdings are effectively valued at zero. Yet, the unlisted portfolio is substantial. Dotdash Meredith, post-merger with Meredith, is recovering, with 2024 EBITDA projected at $300 million; it could be worth ~$2.2 billion. Turo, the car-sharing leader, may IPO at a $3 billion+ valuation, valuing IAC's 32% stake at ~$1 billion. Care, acquired in 2020 and profitable, is conservatively valued at $500 million. Vivian Health, EmployBridge shares, and legacy search assets could be worth another $200 million. Collectively, the unlisted assets are estimated at $3.9 billion, implying ~$46/share in hidden value. The Angi spin-off may reduce structural complexity and better showcase this mispricing. With potential catalysts in 2025, including the Turo IPO or exit, the author remains confident that IAC is primed for a swift re-rating once the market acknowledges its sum-of-the-parts value. Previously, we covered a bullish thesis on IAC Inc. by Boyar Research in February 2025, which highlighted the company's proven spin-off strategy, management reshuffle, and a renewed focus on capital allocation amid ongoing turnarounds at Angi and Dotdash Meredith. The company's stock price has depreciated approximately 20% since our coverage. This is because Angi's underperformance and market skepticism on restructuring masked the sum-of-the-parts value. The thesis still stands as the spin-off and improved fundamentals at core holdings continue to signal long-term upside. Stefan Waldhauser shares a similar view but emphasizes the extreme undervaluation of IAC's unlisted assets and the potential re-rating post-Angi spin-off and Turo's IPO. IAC Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held IAC at the end of the first quarter, which was 54 in the previous quarter. While we acknowledge the risk and potential of IAC 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: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
