Markets

Forum Energy Technologies reported Q3 2025 revenue of $196 million and a net loss of $21 million ($1.76 per diluted share). Adjusted net income was $3 million ($0.27 per diluted share), with adjusted EBITDA at $23 million, up 13% sequentially. Operating and free cash flow were $23 million and $28 million, respectively. The company repurchased 635,000 shares for $15 million and increased its 2025 full-year free cash flow guidance to $70-$80 million. Orders hit $240 million with a 122% book-to-bill ratio.

Benton Resources filed with the TSX Venture Exchange to acquire 100% of Noble Mineral Exploration’s Island Pond Property (175 hectares), contiguous to Benton’s South Pond Gold Zone. The deal includes $30,000 cash and 1,000,000 Benton shares, subject to a four-month hold after approval. The property is subject to a 2% NSR (buyback available to Benton for $1.5M) and a 1% NSR granted to Noble with right of first refusal. No finder’s fees were paid in the arm’s length transaction.

COPT Defense Properties (CDP) reported strong 3Q25 results, exceeding expectations with FFO per share at $0.69, a 6.2% year-over-year increase. The company raised its full-year FFO per share guidance to $2.70, implying 5.1% growth. Same Property Cash NOI increased 4.6%. Occupancy remained high, with the total portfolio at 93.9% occupied and 95.7% leased, the highest leased rate in 20 years. CDP committed $72M to new investments and pre-funded its 2026 bond maturity, demonstrating successful capital deployment and a positive outlook.

Enerpac Tool Group (EPAC) will present at the Baird Global Industrial Conference on November 12, 2025, at 2:55 p.m. Central Time. CEO Paul Sternlieb and CFO Darren Kozik will discuss the company’s strategic direction, financial performance, and industry trends impacting Enerpac’s operations, including supply chain dynamics and automation demand. The presentation will also highlight technological advancements and digital integration plans. Presentation materials will be available on Enerpac’s website beforehand. Enerpac is a global provider of industrial tools and solutions operating in over 100 countries.

Franklin Universal Trust (FT) announced the estimated sources of its October 31, 2025 distribution and fiscal year 2026 year-to-date allocations. The distribution is $0.0425 per share, with 61% from net investment income, 4% from short-term capital gains, and 35% as return of capital. FT’s investment objective is high current income and capital preservation. The fund’s 5-year average annual total return is 8.06%. Franklin Templeton manages the fund, with $1.66 trillion AUM as of September 30, 2025.

S&T Bancorp (STBA) has appointed Stephanie N. Doliveira to its board of directors and S&T Bank’s board, effective immediately. Doliveira brings over 25 years of leadership experience, most recently as Executive Vice President of People and Culture at Sheetz, Inc. CEO Chris McComish cites Doliveira’s expertise in culture and strategy as invaluable. Analysts suggest her appointment underscores S&T’s focus on internal culture and sustainable growth, particularly in a competitive banking landscape. Her experience in human capital management and risk oversight will be valuable in navigating a complex regulatory environment.

Freddie Mac reported solid Q3 2025 earnings despite economic uncertainty, demonstrating resilience in a volatile market. Net income saw a [Insert Percentage Change Here]% change year-over-year, reflecting efforts to manage credit risk and improve efficiency. Key highlights included strong credit performance, a slight dip in mortgage origination, and progress in building capital reserves. Freddie Mac is investing in technology, including AI, and remains focused on housing market stability while navigating rising interest rates and working towards exiting conservatorship.

Xcel Energy (XEL) reported a decrease in third quarter 2025 GAAP diluted earnings per share ($0.88 vs $1.21 in 2024). Year-to-date GAAP diluted earnings also declined ($2.47 vs $2.63). However, third quarter ongoing earnings per share were nearly flat ($1.24 vs $1.25), while year-to-date ongoing earnings increased ($2.84 vs $2.69). Xcel reaffirms its 2025 ongoing EPS guidance of $3.75-$3.85 and initiates 2026 ongoing EPS guidance of $4.04-$4.16, targeting 6-8+% long-term EPS growth and 4-6% dividend growth. A conference call was scheduled to review these results.

Clarivate’s “Pulse of the Library 2025” report, based on a survey of over 2,000 librarians globally, analyzes how libraries are adapting to AI, open science, and geopolitical shifts. AI adoption is rising, with 67% exploring or implementing AI. The report highlights AI literacy’s importance for successful AI implementation. Regional disparities exist in AI adoption, and budget constraints remain a significant challenge. The report provides insights for libraries to navigate the evolving information landscape and leverage AI effectively.

Argenx (ARGX) reported Q3 2025 global product net sales of $1.13B and total operating income of $1.15B. Operating profit reached $346M, with $4.3B in cash and financial assets. The company reaffirmed its ~$2.5B combined R&D and SG&A guidance and plans to file an sBLA for seronegative gMG by year-end 2025, with ADAPT-OCULUS results expected in 1H26. Five registrational readouts are anticipated in 2026. A FUJIFILM manufacturing partnership expanded with a new North Carolina site.