Stocks are nearing their first correction in about a year as the Iran war drives up oil prices and sparks worries about a resurgence in inflation.
Futures tracking the Dow Jones Industrial Average fell 235 points, or 0.5%, on Monday. S&P 500 futures were 0.6% lower and contracts tied to the tech-heavy Nasdaq 100 tumbled 0.7%.
The three major indexes have tumbled for four weeks in a row, putting them on the brink of closing in correction territory. A correction is when an index falls 10% from its recent high.
FLSmidth & Co. A/S (FLIDY) Shareholder/Analyst Call March 24, 2026 11:00 AM EDT
Company Participants
Mads Nipper
Conference Call Participants
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Louise Celia Korpela
Presentation
Mads Nipper
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Dear shareholders, it is now 4:00 PM. And as Chairman of the Board, it’s a pleasure for me to welcome you to this Annual General Meeting of FLSmidth. This is the first time for decades that we are holding our AGM outside our previous headquarters in Valby. We moved away from there earlier this year. We moved into the new offices at Havneholmen, down the street here in Copenhagen. This was also the beginning of a new era for FLSmidth and I’m going to come back to that later on in my report. To take us through this AGM, the Board has selected attorney Louise Korpela. And I give the floor to you, Louise.
Louise Celia Korpela
Thank you very much. My first job as Chair is to make sure that the meeting has been duly convened and is quorate. There must be minimum 3, maximum 5 weeks’ notice via the company’s website and by sending notice to those shareholders who have so requested. The convening notice was sent out on the 27th of February, which was within the time line and also in the correct manner. It also contains, as I said, all the information which is required under Danish company law and the company’s Articles of Association, and all the information the company is requested or obligated to make available to shareholders has been made available. So the meeting has been duly convened. Behind me, you see the agenda. It contains the usual items that need to be included according to the articles and then we also have proposals from the Board of Directors concerning an updated version of the remuneration policy and also the acquisition of treasury shares and also prolongation of
New Delhi: India’s private sector growth slowed to its weakest pace in more than three-and-a-half years in March as the West Asia conflict dampened demand and output, even as international sales hit a record high, a private survey showed on Tuesday.
The HSBC Flash India Composite Purchasing Managers’ Index fell to 56.5 in March from 58.9 in February and 59.5 a year earlier. The composite PMI combines manufacturing and services indices, with readings above 50 signalling expansion and those below indicating contraction.
“Output growth eased across both manufacturing and services as the energy shock unfolds,” said Pranjul Bhandari, chief India economist at HSBC. Manufacturing activity weakened more sharply, with the PMI falling to 53.8 in March from 56.9 in February. Market volatility and consumer uncertainty linked to the conflict led to the slowest rise in factory output since August 2021. The services PMI eased to 57.2 from 58.1.
Inflationary pressures intensified during the month. Input costs, including oil, energy, food, aluminium, steel and chemicals, rose to a 45-month high, while selling prices increased to a seven-month high.
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“Cost pressures intensified, but companies are absorbing part of the increase by squeezing margins,” said Bhandari.
Thousands of users worldwide are reporting disruptions to Grok, the artificial intelligence chatbot integrated into Elon Musk’s social media platform, X.
Starting approximately at 1:00 AM AEDT on Wednesday, March 25, 2026, reports began surging on outage tracking sites like Downdetector and StatusGator. Users across Australia, the United States, and the United Kingdom have noted that the AI is either failing to generate responses or is stuck on a perpetual “loading” screen.
Current Status: What We Know So Far
As of this writing, the official xAI Status Page has not yet acknowledged a widespread system failure, currently listing services as “Operational.” However, independent monitoring services tell a different story.
Report Spikes: Over 100 user-submitted reports have been logged in the last hour alone, specifically citing “Server not responding” and “App not loading.”
Regional Impact: While the disruption appears global, the highest concentration of reports is coming from major tech hubs, including California, Illinois, and London.
Error Messages: Many X Premium and Premium+ subscribers are receiving a generic error message: “Grok is experiencing issues. We are working on restoring services as quickly as possible.”
A Pattern of Instability in 2026?
This latest incident follows a string of technical hurdles for xAI in early 2026. Earlier this month, on March 10, Grok suffered a significant two-hour outage that affected both the web and mobile versions.
Industry analysts suggest that the frequent “high demand” errors and rate-limiting issues may be linked to the recent rollout of Grok-3, which significantly increased the model’s compute requirements.
“Elon Musk’s push to make Grok the most powerful AI in the world comes with massive infrastructure growing pains,” says tech analyst Marcus Thorne. “When you’re running a model of this scale directly integrated into a global social network, any minor networking hiccup becomes a massive public-facing outage.”
How to Check if Grok is Down for You
If you are currently experiencing issues with Grok, there are several ways to verify if it is a local problem or a platform-wide outage:
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Check the Official Status: Visit status.x.ai for the official word from the engineering team.
Monitor X (formerly Twitter): Search the hashtag #GrokDown or #XDown. Usually, the community reports issues minutes before the official status pages are updated.
Try an Alternate Platform: Sometimes the Grok Web App remains functional even when the integration within the X mobile app is failing.
The Broader Context: Security and Contracts
The outage comes at a sensitive time for xAI. Just last week, U.S. Senator Elizabeth Warren sent a formal inquiry to the Department of Defense regarding the safety and reliability of Grok, following reports that the AI was being tested for use in classified systems.
A $200 million government contract is reportedly on the line, and persistent uptime issues could play into the hands of critics who argue that xAI lacks the “reputation and track record” required for high-stakes military and governmental applications.
Expected Resolution
Historically, xAI and X have been relatively quick to resolve minor networking “hiccups,” with most outages being fixed within 30 to 90 minutes. However, if the issue is related to a deeper “data poisoning” vulnerability or a server-side crash—as seen in the January 16 global outage—the downtime could stretch into several hours.
Nike Inc. shares rose more than 2% in midday trading Wednesday, trading around $53.80, as investors eyed the athletic giant’s upcoming quarterly results and signs of progress in CEO Elliott Hill’s multiyear turnaround plan.
AFP
The stock, which hit a 52-week low of $52.18 earlier this month, remains down sharply from its highs of the past year. It has fallen about 17% year-to-date and more than 20% over the trailing 12 months, reflecting persistent challenges in consumer demand, margin pressure and competition from fast-fashion rivals.
As of midday Wednesday, March 25, Nike (NYSE: NKE) shares were up $1.10, or roughly 2.1%, at $53.81 on volume exceeding 4.8 million shares. The stock closed Tuesday at $52.71 after a modest 0.65% gain. Its 52-week range spans $52.18 to $80.17, with a market capitalization near $78 billion.
Nike faces a tough environment. For the full fiscal 2025 year, the company reported a 9.84% revenue decline and a 43.53% drop in net income, underscoring the depth of its slowdown after years of pandemic-fueled growth followed by overreliance on direct-to-consumer sales.
In the most recent reported quarter — fiscal 2026 second quarter ended Nov. 30, 2025 — revenue rose 1% to $12.43 billion, beating analyst expectations of about $12.2 billion. Wholesale revenue jumped 8% to $7.5 billion, signaling improving relationships with retail partners, while NIKE Direct sales fell 8-9%. Gross margin contracted 300 basis points to 40.6%, and diluted earnings per share came in at 53 cents, topping forecasts of 37-38 cents but down from 78 cents a year earlier.
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Net income for the quarter fell 32% to $792 million.
Hill, who took over as CEO in late 2024 after a long career at the company, has centered his strategy on “Win Now” actions. The plan emphasizes five pillars: culture, product innovation, marketing, marketplace (rebuilding wholesale) and in-person experiences. He has refocused the brand on sport and athletes, accelerated new product launches, streamlined operations and cut jobs in distribution.
“We’re in the middle innings of our comeback,” Hill said following the second-quarter results.
He has traveled globally to reconnect with leagues, teams and athletes, aiming to restore Nike’s cultural edge. In a recent New York Times profile, Hill described emulating co-founder Phil Knight’s hands-on style and pushing for faster innovation cycles, such as developing a chunky running shoe in eight months instead of the usual 18.
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Analysts have noted early progress in North America, where wholesale momentum has helped stabilize sales. Hill has said the turnaround is spreading from Europe to Asia, though China remains a drag. The company has also explored potential strategic moves, including speculation about exiting or restructuring its Converse brand.
Investors will get a fresh look when Nike reports fiscal 2026 third-quarter results after the market close on Tuesday, March 31. Analysts expect revenue of about $11.23 billion, down from the prior year, with earnings per share around 29-32 cents. The quarter is projected to show continued pressure, including an 11% sales decline in some estimates — the steepest in recent periods.
Wall Street’s view remains mixed but leans cautiously optimistic. Consensus among roughly two dozen to three dozen analysts rates Nike a Moderate Buy or Buy, with an average 12-month price target around $73 to $76 — implying 35-40% upside from current levels. High targets reach $110, while the low sits near $54 after recent cuts.
Recent moves include Deutsche Bank lowering its target to $54 from $67 while keeping a Hold rating. UBS cut to $58 from $62. Barclays upgraded to Overweight, citing a favorable risk/reward shift. RBC Capital maintained Buy. Jefferies and others have expressed confidence in wholesale recovery, bolstered by strong results at partners like Dick’s Sporting Goods.
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Some analysts caution about “lacking consistency and visibility,” pointing to ongoing margin headwinds, tariff impacts estimated at $1.5 billion annually and cautious full-year guidance of low-single-digit revenue growth with declining earnings per share.
Nike’s dividend yield has climbed to about 3.1% as the stock price has fallen, attracting income-focused investors. The company maintains a strong balance sheet and free cash flow, though it has faced inventory and demand normalization issues.
Broader industry context adds pressure. Competitors like Lululemon and emerging fast-fashion brands have chipped away at market share, while consumers remain selective amid economic uncertainty. Nike’s iconic status in basketball, running and global sports marketing remains a core strength, but execution on innovation and pricing will be key.
Hill has acknowledged the path “won’t be a straight line.” The company has pulled back on legacy styles, invested in new athlete-centric products and doubled down on wholesale channels after earlier DTC overemphasis.
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Positive notes include footwear revenue gains in key regions and early wholesale momentum. Excluding headwinds from classic franchises, some periods showed underlying growth of 6% or more.
Nike also announced a new $1 billion short-term credit facility in March, providing financial flexibility.
Longer-term, analysts project fiscal 2027 revenue approaching $48-50 billion if the turnaround gains traction, with EPS recovery.
Shares have lost value for four straight years, down roughly 65% from the 2021 peak, leaving some value investors wondering if the current levels near the 52-week low represent a bottom.
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” Nike stock has been absolutely slammed, bolstering its dividend yield,” one recent analysis noted, questioning whether it is a buying opportunity.
With Q3 results days away, the market will watch for updates on gross margin trends, wholesale traction in international markets and any forward guidance that could signal acceleration in Hill’s “Sport Offense” plan.
For now, modest buying interest reflects hope that Nike’s deep brand moat, innovation pipeline and leadership changes can restore its position as the world’s leading athletic brand. Whether the comeback delivers sustained growth or faces further setbacks will likely shape investor sentiment through 2026 and beyond.
Low-cost Unmanned Combat Attack System (LUCAS) drones are positioned on the tarmac at a base in the U.S. Central Command operating area.
Source: U.S. CENTCOM
An Arizona-based battery startup led by a former General Motors executive is moving from making products for all-electric vehicles to making products for the aerospace and defense industries amid the war in Iran and growing demand for U.S. drones by the Trump administration.
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Sion Power expects to commercialize high-energy lithium-metal battery cells for drones and other defense-related products later this year after focusing on the development of all-electric vehicles for much of the past decade, according to CEO Pamela Fletcher.
“We’re targeting to commercialize this technology,” Fletcher told CNBC exclusively. “We had hoped, and thought, that would be in automotive, and I think that possibility still exists, but the faster path, and frankly, a big need, is out there in this defense space.”
The decision is a unique example of how companies that bet on the unrealized adoption of all-electric vehicles are pivoting to different segments. Other companies have moved to the stationary storage and aerospace sectors to utilize unused battery production capacity for EVs.
Automakers in the U.S. have significantly pulled back from pure EVs and taken billions of dollars in write-downs following slower-than-expected adoption of the vehicles and changes by the Trump administration to incentives that supported them.
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Sion Power’s planned “Licerion HE” lithium-metal battery cells will support both primary, or single-discharge, and secondary, or rechargeable, battery applications, according to the company.
The battery cells are designed for next-generation drones, autonomous systems and other mission-critical platforms that require maximum energy in the smallest, lightest possible footprint, according to Fletcher.
“Lithium-metal technology, which is what we developed, has high gravimetric energy, which means it’s a lot of energy in a lightweight pack,” said Fletcher, who began leading the company in 2024. “It works really well for things that fly.”
Fletcher said Sion Power’s lithium-metal cells are engineered to deliver energy densities exceeding 500 watt-hour per kilogram, compared with approximately 300-350 Wh/kg for today’s most advanced lithium-ion technology.
Such batteries can power drones or missiles as well as their on-board systems such as cameras, sensors and processors for combat, surveillance and other needs.
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Sion Power has a 110,000-square-foot facility in Tucson, Arizona, with pilot manufacturing capabilities. Fletcher said it’s currently producing Licerion HE cells for defense applications and converting its production cell line from automotive battery cells to defense products, which are smaller.
Sion Power CEO Pamela Fletcher, formerly an executive at General Motors
Mario Anzuoni | Reuters
The company will continue to develop cells for other segments, such as EVs, but its main focus and growth right now is defense, which the company had been working on prior to focusing on EVs, Fletcher said.
The privately held company does not plan to be a direct supplier to the U.S. government, but it hopes to sell its products to other certified contractors, Fletcher said. The move comes as the Trump administration’s Department of Defense is exploring increasing production of U.S.-sourced Low‑Cost Uncrewed Combat Aerial System, or LUCAS, drones.
Such drones have been an integral part of the war between Russia and Ukraine as well as the Iran war.
“It’s evolved quite rapidly in the last three or four years, and now, even with the Iran war, things are changing even further,” Sion Power Chief Commercial Officer Mitch Hourtienne told CNBC. “There’s a lot of emerging applications coming out of, unfortunately, the Ukraine war, now the Iran war.”
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Sion Power’s custom defense pack that includes its Licerion lithium-metal battery cells.
Courtesy Sion Power
Several companies other than Sion Power, such as Quantumscape, have spent years researching and developing lithium-metal batteries for vehicles, but so far there hasn’t been mass commercialization for using that technology in the automotive sector.
Lithium-metal battery cells function similarly to currently used lithium-ion cells, but have greater energy density, potentially at a lower cost. But they can be more volatile and are viewed as farther out than emerging solid-state batteries for cars, according to experts.
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Sam Abuelsamid, vice president of market research at communications and consulting firm Telemetry, said lithium-metal cells could be used for different industries and use cases.
“It’s better for energy density. It also should reduce cost,” said Abuelsamid, an engineer and battery expert. “There’s no reason why they wouldn’t be just as effective in smaller objects, especially something that flies, like a drone.”
The biggest difference between defense and automotive is shelf life versus cycle life. Auto batteries typically require hundreds of charge life cycles, whereas defense uses require only one to 20 cycles and can demand three to eight years of shelf life.
Sion Power has raised more than $200 million for development of lithium-metal cells. Investors have included South Korean battery manufacturer LG Energy Solution, former Google CEO Eric Schmidt’s family office, Hillspire, and unnamed global automakers, according to the company.
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The company, established in 1989 as a spin-off from Brookhaven National Laboratory, said it plans to seek further capital as its products are expected to launch and ramp up during the second half of 2026 and into 2027.
A Delta Air Lines Boeing 757-200 plane passes by the Capitol dome in Washington as it comes in for a landing at Ronald Reagan Washington National Airport, Nov. 9, 2025.
“Due to the impact on resources from the longstanding government shutdown, Delta will temporarily suspend specialty services to members of Congress flying Delta,” Delta said in a statement to CNBC.
“Next to safety, Delta’s No. 1 priority is taking care of our people and customers, which has become increasingly difficult in the current environment,” the airline said.
Delta’s Capital Desk, which is a reservation line for members of Congress and staffers, remains open.
But for now, those customers will be treated like any other passengers based on their respective Sky Miles status.
The move comes as airports around the U.S., including major hubs in cities such as Atlanta, where Delta is based, are seeing extra-long security lines as a result of elevated absences by TSA agents, who are set to miss their second full paycheck this week.
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Bastian last week fumed to CNBC that it is “inexcusable that our security agents, our frontline agents, that are essential to what we do, are not being paid. And it’s ridiculous to see them being used as political chips.
“So, we’re outraged,” Bastian said.
“And if there’s a call to action here — and I think over 90% of the American public supports those people getting paid — ask our folks right here in Washington to do their job, get our people paid. They can do it,” the CEO said.
United Airlines, when asked by CNBC if it had suspended its similar perks for members of Congress, said, “We don’t have any changes to announce today.”
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CNBC has requested comment from American Airlines about its services for federal lawmakers.
Airline executives have railed against lawmakers in recent months, urging them to ensure that essential government workers like TSA officers are paid during shutdowns, which have become increasingly common.
Repeated funding impasses, including in early 2019 and as recently as last fall, ended shortly after absences of government workers who were required to work without pay increased.
Technology has become an inseparable part of modern society, influencing every aspect of our lives. From communication and healthcare to business and entertainment, technology’s rapid evolution has revolutionized the way we interact, work, and perceive the world.]
In this article, we explore the multifaceted world of technology, its impact on various sectors, and the trends that are shaping its future.
The Technological Revolution
The 21st century has witnessed an unprecedented technological revolution, driven by breakthroughs in fields such as artificial intelligence, robotics, biotechnology, and the Internet of Things (IoT). These advancements have transformed the way we live and opened up new possibilities for innovation and human progress.
Impact on Communication and Connectivity
One of the most visible effects of technology is the transformation of communication. The rise of smartphones and social media platforms has connected people across the globe, enabling real-time communication and the sharing of information. Video conferencing, messaging apps, and social networks have revolutionized how we interact with friends, family, and colleagues.
Revolutionizing Industries Through Automation
Automation powered by technology has reshaped industries by streamlining processes, increasing efficiency, and reducing human error. Manufacturing, for instance, has embraced robotics and automation to improve production speed and precision. Similarly, the finance sector has leveraged fintech innovations for online banking, digital payments, and automated investment platforms.
has also left a profound impact on healthcare, leading to improved diagnostics, treatments, and patient outcomes. Telemedicine has enabled remote consultations, wearable health devices provide real-time data, and AI-powered algorithms assist in disease detection. The convergence of healthcare and technology is unlocking personalized medicine and revolutionizing patient care.
The Digital Economy and E-Commerce
The digital economy has spawned new opportunities for businesses through e-commerce, digital marketing, and online platforms. Companies like Amazon, Alibaba, and Netflix have capitalized on technological advancements to transform their industries and redefine consumer expectations. E-commerce has not only changed the way we shop but has also altered supply chain dynamics.
The Challenge of Data and Privacy
As technology permeates every facet of life, concerns about data privacy and security have come to the forefront. The collection, analysis, and use of personal data raise ethical questions and necessitate robust regulations to safeguard individual privacy. Striking a balance between technological innovation and personal privacy remains a critical challenge.
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Emerging Trends in Technology
Artificial Intelligence (AI) and Machine Learning: AI technologies, such as natural language processing and machine learning, are enabling computers to perform tasks that typically require human intelligence. From self-driving cars to virtual assistants, AI is transforming industries and enhancing efficiency.
5G Connectivity: The rollout of 5G networks promises faster and more reliable connectivity, enabling real-time data transmission, IoT applications, and innovations in fields like autonomous vehicles and remote surgery.
Blockchain Technology: Beyond cryptocurrency, blockchain technology is finding applications in supply chain management, healthcare, and digital identity verification, offering transparency and security in data management.
Sustainable Technology: The growing concern for the environment has prompted the development of sustainable technologies, such as renewable energy sources, green infrastructure, and circular economy solutions.
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The Human Element: Technology and Society
Amid the technological revolution, the role of humanity remains paramount. Technology is a tool that amplifies human capabilities and addresses challenges. While AI and automation can enhance productivity, they also necessitate reskilling and upskilling to ensure a workforce that is adaptable and relevant.
Conclusion
Technology has become the driving force behind societal evolution, economic growth, and global connectivity. Its influence spans from individual lives to entire industries, reshaping the way we communicate, work, and solve complex problems. As we continue to witness technological advancements, it’s essential to embrace innovation while remaining mindful of ethical considerations, privacy concerns, and the enduring need for human creativity and ingenuity in shaping technological future.
The Valkyrie Trading Society is a team of analysts sharing high conviction and obscure developed market ideas that are downside limited and likely to generate non-correlated and outsized returns in the context of the current economic environment and forces. They are long-only investors.They lead the investing group The Value Lab where they offer members a portfolio with real time updates, chat to answer questions 24/7, regular global market news reports, feedback on member stock ideas, new trades monthly, quarterly earnings write-ups, and daily macro opinions.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.
Exor N.V. (EXXRF) Q4 2025 Earnings Call March 24, 2026 11:00 AM EDT
Company Participants
John Elkann – CEO & Director Benoit Ribadeau-Dumas Suzanne Heywood – Chief Operating Officer Guido de Boer – Chief Financial Officer
Conference Call Participants
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Monica Bosio – Intesa Sanpaolo Equity Research Martino De Ambroggi – Equita SIM S.p.A., Research Division Luuk Van Beek – Banque Degroof Petercam S.A., Research Division Alberto Villa – Intermonte SIM S.p.A., Research Division Andrea Balloni – Mediobanca – Banca di credito finanziario S.p.A., Research Division
Presentation
Operator
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Ladies and gentlemen, good afternoon. Welcome, and thank you for joining the Exor Investor and Analyst Call. Please note that the presentation is available to download on Exor website www.exor.com under the Investors and Media, Events & Presentations section.
Any forward-looking statements Exor management makes are covered by the safe harbor statement included in the presentation material. Please note that this conference is being recorded. [Operator Instructions].
At this time, I would like to turn the conference over to your host, CEO, John Elkann. Please go ahead.
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John Elkann CEO & Director
Good morning, good afternoon and good evening to all of you. Thank you for being here today with us. 2025 was a difficult year in many different ways for Exor and for our companies. But it also has been a year that has helped us be more focused and be more resilient, which enables us as a company to be better prepared for another difficult year, which will be 2026.
Today, we want to talk to you about our companies. We have less of them and we have more in health care. We want to speak to you about Lingotto who has reached a very important milestone in ’25, reaching EUR 10 billion of assets under management driven by performance, which is exactly in line with our intentions of building an investment
Chinese oil major Sinopec600028 -1.66%decrease; red down pointing triangle struck a cautious tone during a post-earnings briefing, saying it has enough inventory to maintain stable production and multiple contingency plans in place as the conflict in the Middle East stokes worries about countries running out of fuel.
However, it said that a prolonged conflict would pose more severe challenges.
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