Oliver Becker

Hello, everyone, and welcome to today’s webinar. It’s great to have you with us, whether you are joining live or listening to the recording later. My name is Oliver Becker, and as a new member of the Alliance management team, I’m focusing on our ALM solutions portfolio at PTC. Before that, I spent the past years with several roles around PLM and product line engineering with Pure Variants.

Today’s session is focused on the significant business potential we currently see in the ALM space and more importantly, how we as partners can unlock this potential together to create greater value than any of us could achieve individually. I hope that this session will inspire you to gain business out of this super cycle intelligent product engineering.

Before we get started, just a few quick housekeeping points. The webinar will last approximately 45 minutes. You can submit questions at any time using the chat box below. We will do our best to respond to your questions directly in the chat during the session, and any open questions will be answered afterwards in writing. So please feel free to engage with us throughout the webinar. We are looking forward to your input.

With that, let’s take a look at today’s agenda and introduce our guest speakers. Joining us today from our office in Budapest, I’d like to introduce our first speaker, Peter Haller. Peter knows Codebeamer and the ALM market like very few others. As Director of Solution Consulting, he has been involved in countless customer discussions and brings a deep understanding of the challenges and opportunities in the space. Today, he will walk us through the true potential of ALM and

SEATTLE — Amazon.com Inc. shares rose nearly 3 percent Tuesday to around 254.84, reflecting investor confidence in the e-commerce and technology giant’s diversified business model and accelerating cloud performance driven by artificial intelligence demand.

The move extended recent gains as Amazon benefits from its leadership in online retail and dominance in cloud computing through Amazon Web Services. With fiscal second-quarter results expected later this month, the stock’s performance underscores optimism about sustained growth across segments despite economic uncertainties.

Amazon Web Services continues to power much of the company’s profitability. The cloud unit has seen robust demand for infrastructure supporting AI training and inference, with major enterprises and startups scaling operations on its platform. AWS has introduced specialized instances and services optimized for generative AI workloads, helping maintain its market position against competitors.

Retail operations, Amazon’s original core business, have shown resilience. Prime membership growth, improved logistics efficiency and advertising revenue have supported margins even as consumer spending patterns evolve. The company has invested in automation and delivery networks to handle peak volumes while controlling costs.

Tuesday’s trading came amid broader market rotations favoring established technology leaders with visible earnings trajectories. Amazon’s balance of consumer exposure and high-margin cloud business appeals to investors navigating AI hype cycles and potential economic slowdown risks.

The company has aggressively expanded its AI capabilities. Investments in data centers, custom chips and machine learning tools position it to capture spending from businesses adopting generative technologies. AWS’s Anthropic partnership and Bedrock platform have gained traction as enterprises seek secure, scalable AI solutions.

Amazon’s advertising business, integrated across its retail sites and streaming services, has delivered strong growth. Targeted ads leveraging customer data and shopping behavior have become a significant profit contributor.

Streaming and entertainment through Prime Video and MGM content continue to expand the subscriber base. Investments in original programming and sports rights aim to enhance value for Prime members while generating additional revenue streams.

International markets remain a growth opportunity. Amazon has optimized operations in key regions, adapting to local preferences and regulatory environments. E-commerce penetration in emerging markets offers long-term upside.

Capital expenditures have risen to support cloud expansion and logistics improvements. While pressuring near-term free cash flow, these investments are viewed as essential for maintaining competitive advantages in AI infrastructure and delivery speed.

Amazon’s balance sheet strength, including substantial cash reserves, provides flexibility for acquisitions, share repurchases and debt management. The company has returned capital to shareholders through buybacks while funding organic growth.

Recent product launches, including improved Echo devices and Fire TV hardware, aim to deepen ecosystem engagement. Integration of AI assistants across devices enhances user experience and creates stickiness.

Analysts project continued revenue expansion for the current quarter and full year. Consensus estimates highlight mid-teens growth in retail and stronger cloud performance, with operating margins expected to hold or expand.

Tuesday’s share price movement reflected positive sentiment ahead of earnings. With no major negative developments, the stock benefited from technical strength and sector momentum.

Amazon’s culture of innovation, exemplified by its leadership principles and long-term orientation, continues to drive experimentation in new areas such as healthcare, satellite communications and robotics. While some initiatives are still maturing, they diversify risk and open future revenue channels.

Regulatory challenges persist, including antitrust scrutiny in multiple jurisdictions. Amazon has defended its practices while making adjustments to comply with evolving rules around marketplace fairness and data usage.

Sustainability efforts, including renewable energy commitments for data centers and packaging reductions, align with customer and investor expectations. Progress on these fronts supports brand reputation in an environmentally conscious market.

As the second-quarter earnings approach, focus will center on AWS growth rates, retail margin trends and capital spending guidance. Management commentary on AI opportunities and macroeconomic conditions will shape market reaction.

Amazon’s dual role as retailer and technology infrastructure provider gives it unique advantages. The flywheel effect, where retail data informs cloud services and vice versa, creates competitive moats difficult for pure-play competitors to replicate.

Prime Day, the annual shopping event, recently demonstrated the power of the membership program to drive sales across categories. Record participation highlighted consumer engagement even in a selective spending environment.

International e-commerce, particularly in India and Europe, shows promising trends. Localized investments in fulfillment centers and payment options are yielding results.

The company’s venture investments and acquisitions have bolstered capabilities in areas like autonomous delivery and entertainment content. Strategic capital allocation remains key to long-term value creation.

Wall Street consensus remains bullish, with many analysts citing Amazon’s scale, execution track record and exposure to high-growth AI markets. Price targets reflect expectations of continued market share gains.

Potential risks include intensifying competition in cloud, supply chain disruptions and consumer pullback if economic conditions worsen. However, Amazon’s diversified revenue mix provides buffers.

The latest stock advance adds to substantial market value created in recent sessions. Investors appear focused on fundamental strengths rather than short-term noise.

Amazon’s transformation from online bookseller to global technology leader spans decades. Its ability to enter and dominate new categories suggests capacity to capitalize on emerging opportunities in AI and beyond.

As fiscal 2026 progresses, Amazon is well-positioned to deliver growth while investing for the future. The combination of mature businesses generating cash and high-potential segments offers an attractive profile for long-term investors.

Tuesday’s trading provided a snapshot of market enthusiasm for companies with clear AI tailwinds and proven operational discipline. Amazon exemplifies both attributes.

The company’s upcoming results will offer further insight into execution across segments. Strong performance could reinforce its status as a core holding in technology portfolios.

Amazon continues to shape consumer behavior and enterprise technology landscapes. Its scale, data assets and innovation culture position it favorably for sustained leadership.

California lawmakers are warning that a tax credit cap in Gov. Gavin Newsom’s final state budget could derail the state’s push to keep Hollywood jobs in the state.

In a July 10 letter obtained by FOX Business, 39 California legislators urged Newsom and other lawmakers to exempt the state’s Film & Television Jobs Program — aimed at keeping productions in the Golden State — from the cap. They warned the change could “significantly kneecap” the program, which was expanded just last year.

“We understand the budget agreement is in place, but this problem must be fixed before the end of this session,” lawmakers wrote.

The warning came shortly after Newsom approved his final state budget as California governor, a $351.7 billion spending plan that tightens limits on business tax credits.

NEWSOM’S OFFICE TOUTS ANTHROPIC ‘PARTNERSHIP,’ 50% DISCOUNT ON CLAUDE AI FOR CALIFORNIA AGENCIES, LOCALITIES

The budget extends California’s current temporary $5 million business tax credit cap for three years, through 2029. Starting in 2030, companies will be limited to claiming $5 million or 70% of their state tax liability in a given year — whichever is greater.

Critics say the cap could hit California’s film and TV incentives, leaving studios unable to fully use credits they earned for shooting in the state. Lawmakers said the move would amount to “retroactively changing the rules.”

“As a result, many production companies will lose the full value of tax credits they earned in exchange for creating middle-class entertainment industry jobs with health care and retirement with dignity as well as the other economic benefits the industry brings to the state,” the letter states.

The lawmakers also noted that California’s updated film program has kept 133 productions in the state from August 2025 through April 2026, generating $5.5 billion in economic activity, 38,050 cast and crew jobs and 247,934 days of work for background actors.

NEWSOM’S POLITICAL DEFENSE FACES SKEPTICISM AS DOJ INVESTIGATION CONTINUES

“For 100 years, California was the home of film and television production. That is the past. What the Legislature does to address the problem created in SB 122 determines if that remains true into the future,” the letter states.

Southern California’s film and TV industry has struggled to recover from the pandemic, 2023 Hollywood strikes and productions leaving for other states and overseas, the Los Angeles Times reported. 

Assemblyman Rick Chavez Zbur, D-Los Angeles, told the Los Angeles Times that lawmakers believed the film program had been carved out of the cap.

“I don’t think that anyone understood what this cap was, what it did and that it effectively kneecapped and reverses the progress that we made last year,” Zbur told the outlet. “We need to have people understand that these changes, which I think people believed were minor, are really significant and will result in significant job loss if we don’t fix them.”

PARAMOUNT ADVISORS PUSH FOR CALIFORNIA EXIT AS STATE SUES TO BLOCK WARNER BROS DISCOVERY MERGER: REPORT

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Newsom spokesperson Marissa Saldivar told the Los Angeles Times the tax credit limit is part of a “broader fiscal proposal” to keep the state making “strategic investments” while maintaining long-term stability.

“We remain confident in the strength of the recently expanded Film and Television Tax Credit Program and will continue to work with industry and legislative partners to ensure the program is competitive,” Saldivar said.

Newsom and Zbur could not immediately be reached by FOX Business for comment.

Low auction clearance rates are just part of the housing downturn story, as more vendors give up on auctions altogether in favour of private sales.

The share of homes listed via auction has dropped from a peak of 45 per cent in November 2025 to just over 30 per cent in June, according to data from property analytics firm Cotality.

Cooling buyer demand has reshaped the market and driven more sellers towards listing their homes via private treaty, said Cotality head of research Gerard Burg.

“During times of strong demand, vendors clearly favour auctions as competition between multiple bidders can result in a higher price,” Mr Burg said.  

“However, they have been shying away more recently in this weaker demand environment. 

“This has been seen in an increasing tendency to sell ahead of the auction date as well as a rise in withdrawals, pointing to vendors who are increasingly unwilling to test the market at an auction and have the property fail to sell.”

Like auction clearance rates, home prices have been cooling for months as Reserve Bank rate hikes, rising inflation and global economic uncertainty hit buyer sentiment.

Changes to negative gearing and capital gains tax concessions in the May budget further sapped demand from property investors.

Sydney home prices fell 1.2 per cent in June and are 3.7 now below their peak in January, while Melbourne values are four per cent below their March 2022 high.

But David McMahon, Ray White head of auctions for NSW, said it was a stretch to call it a buyers’ market.

“I think it’s a pretty fair market,” he told AAP.

Sellers tended to move away from auctions whenever the market weakened, but there was still value in going through the auction process, Mr McMahon said.

When comparing an auction campaign, including the two weeks following auction day, to a private treaty process over the same period, auctions still offered a higher clearance rate, he said.

But many agents discouraged vendors from going to auction, Mr McMahon said.

“No one likes standing on auction day with no bidders and not selling.”

Although the auction market tended to slow down during the winter months, the current downturn had gone beyond regular seasonal factors, Mr Burg said.

“What we have observed over the past few months has been a steady decline in sales volumes as demand-side pressures have built, meaning that there have been fewer buyers in the market,” he said.

Despite the fall in listings, the auction share is still above the long-term average of around 28 per cent, suggesting private sales will continue to take a bigger slice of the market.
 

This article was written by

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ELE, RGLD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

By Jennifer Nash

Manufacturing activity grew significantly in New York State, according to the Empire State Manufacturing July survey. The diffusion index for general business conditions remained in positive territory for a fourth straight month, jumping 9.9

Shares of Lucid Group surged 20.45% on Wednesday, trading at $5.57 as of 12:06 p.m. EDT, up 95 cents on the day, as the electric vehicle maker continued rebounding from a stunning collapse a day earlier, when bankruptcy rumors briefly sent the stock crashing more than 50%.

Wednesday’s rally builds on a sharp reversal that began late Tuesday, after Lucid’s stock had plunged intraday from $5.51 to as low as $2.37, a decline of more than 50%, before closing at $4.62 on record trading volume exceeding 155 million shares. The stock’s dramatic swings triggered multiple trading halts on the Nasdaq due to extreme volatility.

A Report That Triggered the Selloff

Tuesday’s crash began after a publication covering the electric vehicle industry reported that Lucid had hired restructuring advisers and was reportedly considering either going private or filing for Chapter 11 bankruptcy protection. Bloomberg separately reported that Lucid had hired AlixPartners, a well-known restructuring specialist, adding to the intensity of the selloff.

Lucid Pushes Back Forcefully

Lucid moved quickly to dispute the reports, issuing a statement disputing the central claims and emphasizing its current financial position.

“The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today,” Lucid said in its statement.

The company went further on Wednesday, releasing a formal letter to the editor of the publication electric-vehicles.com, which had originally reported the restructuring story. The letter, signed by Lucid’s chief legal officer, offered an unambiguous rebuttal of the report’s core claims.

“Lucid unequivocally denies the central factual assertions” that were reported, the letter stated. Lucid also reiterated that the company was not considering Chapter 11 bankruptcy protection and was not exploring taking the company private, while indicating it was reviewing “the circumstances surrounding publication” and “all available legal remedies” in response to the report.

Confirmed Restructuring Advisers, but No Bankruptcy Plans

Despite its forceful denials of the bankruptcy and going-private claims, Lucid did confirm that it was working with AlixPartners in some capacity, telling Bloomberg that the restructuring firm had not recommended bankruptcy and that the company had not formed any board committee to explore such scenarios. That distinction, between engaging a restructuring consultant for general business purposes and actively pursuing bankruptcy protection, has become a central point of clarification as Lucid works to rebuild investor confidence following Tuesday’s chaotic session.

A Company Already Facing Financial Strain

Even setting aside Tuesday’s dramatic rumor-driven selloff, Lucid has faced significant underlying financial challenges. The company’s net loss soared to more than $1.02 billion during a recent quarter, up sharply from $366 million during the same period a year earlier, driven by rising research and development costs alongside increased selling, general and administrative expenses.

Lucid has never achieved profitability since its founding, and analysts widely expect that path to remain elusive for the foreseeable future. The company posted a total loss exceeding $2.7 billion last year and has been burning through approximately $1 billion in cash per quarter. According to recent estimates, Lucid is projected to post a loss of $7.97 per share this year, an improvement from a $10.00 per share loss reported the previous year, with losses expected to narrow further to $4.75 per share next year.

Cash Position and Recent Capital Moves

Lucid ended its most recent quarter with $700 million in cash and cash equivalents, along with $1.46 billion in inventories. The company also disclosed drawing $800 million from an existing delayed-draw term loan facility on July 6, according to a regulatory filing, providing additional liquidity ahead of the volatility that unfolded this week.

A Leadership Overhaul Already Underway

Lucid’s turmoil this week follows a significant leadership shakeup the company had announced earlier this month, aimed at simplifying its organizational structure and tightening accountability under Chief Executive Silvio Napoli. That restructuring included the appointment of Alexander De Bock as the company’s new finance chief, along with other executive changes designed to halve the number of direct reports to the CEO.

The leadership changes came alongside Lucid’s disclosure that it produced 4,774 vehicles and delivered 3,953 vehicles during the quarter ended June 30, figures that fell short of analyst expectations and contributed to broader concerns about the company’s operational execution heading into this week’s turmoil.

Legal Scrutiny Continues

Lucid also continues to face ongoing legal challenges tied to its stock performance earlier this year. Multiple law firms have filed securities class action lawsuits on behalf of investors who purchased Lucid shares between February 25 and April 13, 2026, with one deadline for investors to join related proceedings set for July 28.

Analyst Sentiment Remains Cautious

Wall Street’s overall view of Lucid remains largely skeptical despite Wednesday’s sharp rebound. According to recent analyst tracking, the average rating on Lucid stock stands at “Hold,” with a 12-month price target of approximately $8.30. RBC Capital recently lowered its price target on the stock to $7 from $8 while maintaining a Sector Perform rating, while Cantor Fitzgerald has maintained a Hold rating with an $8 price target.

What Comes Next

With Lucid’s second-quarter earnings report scheduled for August 4, investors are likely to closely scrutinize the company’s updated liquidity position and management commentary for any further clarity on its financial trajectory following this week’s volatility. Given the severity of Tuesday’s crash and the scale of Wednesday’s rebound, market analysts suggest Lucid’s stock is likely to remain highly volatile in the near term, with the company’s upcoming earnings report standing as the next major catalyst capable of either reinforcing its denials of financial distress or reigniting the concerns that briefly sent the stock into freefall this week.

ET Intelligence Group: Grasim Industries‘ acquisition of Sprng Energy is a strategic bet on India’s fast growing solar power sector, which is expected to help its renewable energy business outpace the group’s overall revenue growth. Revenue of renewable energy business is estimated to surge 382% to ₹4,446 crore by FY28, compared with a 31% anticipated increase in the group’s consolidated revenue at ₹53,736 crore, according to Motilal Oswal Financial Services. Analysts estimate the segment currently generates around ₹900 crore in annual revenue, accounting for about 2% of the group’s revenue. Its share is expected to rise to around 8% by FY28.

The company’s renewable business has been showing momentum, with year-on-year 60% growth in revenue at ₹251 crore and 55% growth in operating profit before depreciation and amortisation (Ebitda) at ₹199 crore.

Building materials remains Grasim’s largest business. With ₹1 lakh crore in revenue, the division contributed 58% to FY26 revenue. Financial services, the second largest segment, contributed 26% while cellulosic fibres accounted for 10% of revenue. The remaining 6% share was of chemicals segment.

The implied acquisition cost of ₹17,200 crore for a five giga watt (GW) capacity is below the current investment required to develop a comparable greenfield solar project. This translates into an implied valuation of about ₹3.4 crore per mega watt (MW). The portfolio comprises of around 3.3 GW of operational assets and 1.7 GW capacity under construction. According to the industry estimates, a greenfield solar power project in India currently costs around ₹4 crore to ₹5.5 crore per MW, implying that Grasim has acquired Sprng’s portfolio at a discount.

However, the acquisition is expected to increase the financing burden. Since the deal will be funded through a mix of debt and equity, interest costs are likely to rise, which may weigh on near-term profitability. However, Grasim’s leverage remains moderate, with a debt-to-equity ratio of 0.3 (excluding borrowings related to its financial services business) and net debt of ₹36,915 crore at the end of FY26. This indicates the company has sufficient balance sheet capacity to absorb the additional debt.

According to Motilal Oswal Financial Services, the acquisition is likely to be largely debt funded, with Grasim’s equity contribution estimated at around ₹2,430 crore. The higher borrowing costs may reduce the company’s standalone FY28 earnings per share (EPS) estimates by about 8%.