Markets

words.Scully Royalty Ltd. (SRL) announced that activist MILFAM LLC’s dissenting proxy to nominate five directors for the Dec. 27 AGM fails to meet the company’s advance‑notice rules and will not be considered. MILFAM is pursuing a Cayman court ruling on the notice’s validity, but any votes for its slate are deemed ineffective. Shareholders should review the SEC‑filed proxy statement and vote using the “white” proxy for the management nominees. The dispute highlights governance tensions in the royalty sector and could affect short‑term stock volatility, while SRL’s stable $150 million cash‑flow portfolio supports a 6‑7% dividend yield and growth strategy.

words.Ferrovial SE announced the termination of its March‑2025 share‑repurchase program and introduced a new EU‑compliant buy‑back authorized by shareholders. The fresh program allows up to €800 million or 15 million shares (≈2.04% of equity) to fund future infrastructure projects, acquisitions, or other treasury needs, with purchases capped at 25% of average daily volume and priced at the higher of the last independent trade or standing bid. It runs from Dec 15, 2025 to Oct 15, 2026, with Goldman Sachs as exclusive broker.

words.Cathedra Bitcoin (OTCQB: CBTTF) held its 2025 AGM on Dec 12, 2025, with 83.79% of voting shares cast. All board nominees were elected, each receiving 99.39%–99.90% of votes. SRCO Professional Corporation was appointed auditor (99.93% support), and an amended long‑term incentive plan was approved (99.40% support). The company operates 45 MW of bitcoin‑mining infrastructure in North America, delivering ~400 PH/s. Strong shareholder approval underscores confidence in its energy‑linked mining strategy and growth prospects.

Modivcare Inc., a tech‑enabled health‑care services platform, has had its Chapter 11 Reorganization Plan approved, allowing it to exit bankruptcy within weeks. The plan sheds significant debt, improves liquidity, and keeps its non‑emergency medical transportation, personal care, and remote patient monitoring services uninterrupted. The company aims to leverage its analytics‑driven platform to capture growth in the $70 billion non‑clinical services market, pursue strategic investments, and strengthen its position in value‑based care.

words.New Era Energy & Digital (NASDAQ: NUAI) denied a December 11 short‑seller report, calling its claims “factually inaccurate” and urging investors to rely on SEC filings. CEO E. Will Gray II said the company remains focused on delivering integrated power‑and‑data projects in the Permian Basin, a growing digital‑infrastructure hub. With $112 million in assets and cash through 2026, New Era highlights its “powered land” and “powered shells” model, while noting execution risk, potential valuation volatility, and ongoing financing needs for future growth.

words.CSPi (NASDAQ:CSPI) will announce its fiscal 2025 fourth‑quarter and full‑year results before the market opens on Tuesday, December 16, 2025. President and CEO Victor Dellovo and CFO Gary W. Levine will host a conference call at 10:00 a.m. ET, with a live webcast on the company’s website and a replay available for a year. Investors can join by phone using access code 977008. In Q3 FY2025, CSPi posted $15.45 million in revenue, a $1.22 million operating loss, $44.27 million nine‑month revenue, $0.10 million net income and $26.31 million cash on hand.

words.ReelTime Media announced that its AI‑only Reel Intelligence (RI) platform generated content selected for featured placement on the home screens of an estimated 30–35 million LG Smart TVs in U.S. households on December 12, 2025. The material was created without cameras, crews, actors or royalty‑bound assets, showcasing RI’s chip‑agnostic, edge‑distributed ability to produce 4K video, music, voice, edits and code. The rollout includes a national commercial and a free‑trial call‑to‑action, positioning RI as a cost‑effective, scalable alternative to traditional media production and a catalyst for AI‑first advertising.

PG&E Corp. announced a regular cash dividend of $0.05 per share for Q4 2025, payable Jan 15 2026 to shareholders of record Dec 31 2025. Its utility subsidiary set quarterly preferred‑stock payouts for eight series, ranging from $0.27 to $0.37 per share, payable Feb 15 2026. The modest dividend reflects ongoing balance‑sheet recovery after wildfire liabilities, while PG&E invests $8 billion in grid modernization and wildfire‑hardening, seeks regulatory approval for its capital plan, and aims to restore investor confidence and potentially raise future dividends.

Aflac will release its Q3 2025 results on Nov 4, 2025, with a live earnings webcast on Nov 5 led by CEO Daniel P. Amos, CFO Max Brodén and President Virgil Miller. The insurer remains the U.S. leader in supplemental health insurance and Japan’s top provider of cancer and medical policies, driving steady premium growth. Accelerated digital transformation—AI‑enabled underwriting, advanced analytics and cloud‑based claims—targets a 12% cost reduction and faster settlements. Aflac is launching on‑demand, personalized products via fintech and health‑tech partnerships to attract younger customers. Recognized for ESG excellence, analysts will watch earnings sustainability amid rising health‑care costs, insurtech competition, and the ROI of its technology investments.

Gold Royalty Corp (GROY) completed acquisition of a royalty on Chile’s Pedra Branca copper‑gold mine, securing a 25% NSR on gold and 2% NSR on copper from West/East zones. The mine is projected to produce 120,000 ounces of gold and 180,000 tonnes of copper annually. The deal diversifies GROY beyond gold‑only royalties, adding copper exposure and offering an estimated $80 million contribution in 2026 at $2,100/oz gold and $9,000/t copper. The off‑balance‑sheet royalty provides upside with low operational risk, supported by recent processing upgrades and renewable energy use.