It has acquried Telford-baed healthy snack maker Flower & White

Cardiff headquartered leading speciality bakery manufacturer, Finsbury Food Group, has acquired healthy snack brand Flower & White as part of its buy and build growth strategy.

Based in Telford, Flower & White produces a range of light sweet treats and lower-calorie snack bars across direct-to-consumer, retail and foodservice channels. The business is currently growing at around 30% and employs 46 staff.

The value of the deal has not been disclosed. Stock Market listed Finsbury employs 800 at its Cardiff HQ and manufacturing site, which operates under its Memory Lane brand. UK-wide the group employs 3,500 with annual revenues of more than £500m.

The acquisition further strengthens Finsbury’s position within the direct-to-consumer market and adds new capabilities to further capitalise on the shift towards healthier snacking alternatives. The deal follows it acquiring a majority stake in direct-to-consumer cupcake brand, Lola’s, last August.

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Flower & White’s founders, Leanne and Brian Crowther, will remain in place to support a smooth integration. The business will continue to operate from its Telford site.

The deal strengthens Finsbury Food Group’s position in the direct-to-consumer market and offers a differentiated lighter snacking proposition to its roster of baked goods.

John Duffy, chief executive of Finsbury Food Group, said: “Flower & White is a high-quality, entrepreneurial brand operating in attractive growth segments. This acquisition strengthens our direct-to-consumer platform and adds exciting capability in sweet treats and better-for-you snacking. We see strong opportunities to scale the brand through our retail and commercial channels.”

Leanne Crowther, joint founder of Flower & White, said: “We’re delighted to confirm that Flower & White has been acquired by Finsbury Food Group. This is a proud moment in our journey. What started as a small idea in our Shropshire kitchen has grown into a brand-first business shaped by an amazing team and loyal customers.

“Joining Finsbury allows us to build on everything we’ve created, accelerating our direct-to-consumer plans, strengthening retail and foodservice relationships and bringing even more of what people love from Flower & White to the market. We couldn’t be more excited for this next chapter.”

Finsbury Food Group supplies a range of bread, cake, morning goods and bakery snack products to multiple retailers, food service and export channels across the UK and Europe.

President Donald Trump says the U.S. has brought in $30 billion in funds generated from federal stock holdings in Intel over the past 90 days alone.

Trump made the announcement on Thursday, highlighting that he authorized the U.S. government to invest in the semiconductor manufacturing company. Trump revealed in August of last year that Intel had agreed to the federal government acquiring a 10% stake in the company.

“Intel Stock continues to rise. I’m very proud of that Company in that I am responsible for making the United States of America over 30 Billion Dollars in the last 90 days on that stock alone,” Trump wrote.

“There are others that, likewise, I have been very successful with by taking pieces of the Equity for support. Congratulations to Intel on doing such a great job and, more importantly, congratulations to the People of the United States for making such a good investment!” he added.

PROTECTING AMERICANS’ DATA FROM CHINA IS CENTRAL TO AN AMERICA FIRST AGENDA

U.S. President Donald Trump speaks during a Cabinet meeting in the Cabinet Room of the White House. (Chip Somodevilla/Getty Images / Getty Images)

The administration announced the deal with Intel when the company was struggling last year. Semiconductors power everything from smartphones to defense systems, and Intel’s slowdown was a national security concern, industry analysts say.

Intel unveiled new chip manufacturing milestones in early January, accounting for much of its growth. Nevertheless, former Intel CEO Pat Gelsinger warned at the time that the United States still has a long way to go to reclaim chip production from Asia.

Lip-Bu Tan, chief executive officer of Intel Corp., during a news conference on the sidelines of the Computex conference in Taipei, Taiwan. (Annabelle Chih/Bloomberg via Getty Images / Getty Images)

“The metric [is] though, how many wafers are being built in America,” Gelsinger said in January on “The Claman Countdown.”

US CAN’T CUT CHINA OFF COMPLETELY, BUT MUST DEFEND AI AND AMERICAN INNOVATION FROM NONSTOP THEFT: SEN ROUNDS

“That is the only thing that matters,” he added.

Much of the world’s advanced chip manufacturing remains concentrated in Asia, particularly Taiwan. U.S. officials have said the imbalance poses economic and national security concerns.

Gelsinger said it is critical that manufacturing return to the United States, while cautioning that progress will take time.

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“It’s hard to win that manufacturing back. You know it took decades for it to sediment into Asia. It doesn’t come back quickly,” he said.

FOX Business’ Madison Colombo contributed to this report.

SEATTLE — Impinj Inc. shares skyrocketed more than 21% Thursday, surging to around $146 in morning trading after the RAIN RFID pioneer delivered a strong revenue beat for the first quarter and issued blockbuster second-quarter guidance that far exceeded Wall Street expectations, igniting optimism about accelerating demand for its Internet of Things technology.

The semiconductor and RFID solutions company reported first-quarter revenue of $74.3 million, topping analyst forecasts of roughly $72.5 million to $74 million while remaining essentially flat year-over-year. Non-GAAP earnings per share came in at $0.14, beating consensus estimates of $0.11. Adjusted EBITDA reached $3.4 million.

While the top line reflected ongoing inventory digestion and seasonal softness in some retail segments, CEO Chris Diorio highlighted record endpoint IC bookings as the standout metric. “Endpoint IC bookings hit an all-time record, engendering a strong second-quarter revenue outlook,” Diorio said in the earnings release.

Impinj raised its Q2 outlook sharply, projecting revenue between $103 million and $106 million — well above the Street consensus around $97 million — and non-GAAP EPS of $0.77 to $0.82, dramatically higher than prior expectations near $0.20. The aggressive guidance signals a sharp rebound driven by new platform ramps, particularly the M800 series, and expanding adoption in supply chain, logistics and retail applications.

Investors responded with enthusiasm, pushing the stock well above Wednesday’s close of $120.04. Volume surged as traders piled in, reflecting relief after months of volatility tied to inventory corrections and slower retail deployments. The move marks one of the largest single-day percentage gains for the company in recent memory.

Impinj specializes in RAIN RFID technology that enables wireless identification and tracking of billions of everyday items — from apparel and luggage to automotive parts and medical supplies. Its platform connects physical objects to the cloud, powering smarter supply chains and inventory management for major retailers, logistics firms and manufacturers.

The record bookings underscore growing momentum in core markets. Management cited strong demand in supply chain and logistics, areas increasingly reliant on advanced RFID for real-time visibility and efficiency. The M800 platform ramp, offering higher performance and new features, is expected to drive meaningful revenue acceleration through the second half of 2026.

Analysts viewed the results positively despite the GAAP net loss of $25.3 million, or $0.83 per share, which included non-cash items. The focus remained on the forward outlook and operational execution. Several firms raised price targets following the report, though the consensus still hovers around $160-$170, leaving room for further upside.

The RFID market continues expanding as companies digitize operations amid e-commerce growth, labor shortages and complex global supply chains. Impinj’s technology offers advantages in read range, speed and cost over traditional barcodes, positioning it for long-term secular tailwinds even as near-term cycles fluctuate.

Challenges persist. The company has navigated retailer inventory burn-down and product transitions that pressured Q1. Broader semiconductor sector dynamics, including customer concentration and macroeconomic uncertainty, add volatility. Impinj also carries convertible debt, though it recently repurchased a portion to reduce dilution risk.

Balance sheet strength provides a buffer. The company ended the quarter with $235 million in cash and investments. Free cash flow turned positive at $2.2 million, and capital expenditures remained disciplined at $1.7 million.

For investors, the surge highlights Impinj’s high-beta nature. The stock has traded in a wide range, hitting a 52-week high near $247 last year before pulling back amid growth concerns. Thursday’s rally recovers some ground but leaves shares below peaks, reflecting both opportunity and execution risk.

CEO Diorio emphasized the massive untapped potential. Billions of items still lack RFID tagging, creating a multi-year growth runway as adoption scales from pilots to enterprise-wide deployments. Partnerships with major retailers and logistics providers continue expanding use cases.

Looking ahead, the company plans further innovation in endpoint ICs and reader platforms. Gen2X features, including faster inventory reads and enhanced security, could open new verticals in healthcare, aviation and industrial IoT. Management expects sequential improvement through 2026 as inventory normalizes and new platforms gain traction.

Wall Street reaction underscored the power of forward guidance. While Q1 showed typical seasonal softness, the Q2 outlook demonstrated confidence in a rebound. Analysts noted improving gross margins and operational leverage as key positives for profitability.

Risks include customer delays, competitive pressures from other RFID providers and potential slowdowns in retail spending. Currency fluctuations and supply chain component costs also warrant monitoring. Yet the record bookings provide tangible evidence of underlying demand strength.

Impinj, founded in 2000 and based in Seattle, has evolved from an early RFID pioneer to a key enabler of the Internet of Things. Its technology powers applications across retail, healthcare, automotive and logistics, helping organizations gain real-time visibility into assets and inventory.

As trading progressed Thursday, the stock held most of its gains amid high conviction. Whether the momentum sustains depends on Q2 delivery and continued progress on platform ramps. For now, the market has rewarded Impinj’s ability to navigate near-term headwinds while positioning for stronger growth.

The RFID sector watches closely. Successful execution could validate broader digitization trends and drive re-rating for the stock. With Q2 guidance signaling acceleration, Impinj appears poised for a stronger second half — provided it converts bookings into sustained revenue and earnings growth.

For long-term investors, today’s surge reinforces Impinj’s role in the expanding connected economy. As more industries embrace RFID for efficiency and transparency, the company’s technology could capture significant market share in a multi-billion-dollar opportunity.

Given events in the Middle East, it was already inevitable that domestic energy bills will rise this summer. The Bank paints a relatively bleak picture, even though uncertainty still dominates. In short, it will take the region – and the wider energy sector – a while to recover in any scenario, so prices will rise.

PLYMOUTH, Mich. — Garrett Motion Inc. shares exploded more than 22% Thursday, surging to $25.07 in morning trading after the automotive technology supplier delivered a strong first-quarter earnings beat and raised its full-year 2026 guidance, signaling robust demand for its turbocharging and electrification products amid the global shift toward hybrids and efficient internal combustion engines.

The turbocharger specialist reported net sales of $985 million for the quarter ended March 31, up 12% from a year earlier on a reported basis and 6% at constant currency. The top line comfortably topped analyst expectations of roughly $913 million. Net income reached $95 million, or $0.49 per share, beating consensus estimates of $0.43 per share. Adjusted EBIT hit $151 million, reflecting a robust 15.3% margin.

Garrett also generated $49 million in adjusted free cash flow and returned capital to shareholders through $87 million in share repurchases and a quarterly dividend of $0.08 per share, payable June 15. The performance underscored disciplined execution and strong volume conversion in a mixed automotive market.

CEO Olivier Rabiller highlighted the results as evidence of the company’s strategic positioning. “Net sales increased to $985 million, Adjusted EBIT margin expanded to 15.3% and we generated $49 million of Adjusted Free Cash Flow, reflecting disciplined execution and strong volume conversion,” he said in the earnings release.

Investors responded enthusiastically to the raised 2026 outlook. Garrett now targets full-year net sales of $3.6 billion to $3.9 billion, up from prior guidance, and Adjusted EBIT of $520 million to $600 million. The update reflects stronger-than-expected volumes and improved conversion rates, providing a clear runway for growth.

The surge marks a sharp rebound for GTX, which had traded around $20 in recent sessions. Volume spiked dramatically as traders piled into the name, pushing the stock toward multi-year highs. The move comes as Garrett benefits from sustained demand for gasoline and hybrid powertrains even as full electrification accelerates more slowly than anticipated.

Garrett Motion specializes in turbochargers, electric boosting systems and thermal management technologies that improve fuel efficiency and performance across internal combustion, hybrid and electric vehicles. Its products play a critical role in helping automakers meet stricter emissions standards without sacrificing drivability — a sweet spot in today’s transitional market.

Recent partnerships have broadened the company’s horizon beyond traditional automotive. On April 27, Garrett announced a collaboration with TONFY to integrate its oil-free centrifugal compressor technology into high-efficiency liquid cooling systems for battery energy storage. The deal targets the fast-growing data center and energy storage markets, diversifying revenue beyond passenger vehicles.

Analysts largely welcomed the results. The earnings beat and guidance raise validate Garrett’s hybrid-focused strategy at a time when many OEMs are recalibrating pure EV timelines. Hybrids have seen explosive growth in markets like China, Europe and North America, driving turbocharger demand.

Yet the stock’s volatility highlights ongoing risks. Garrett operates in a cyclical industry tied to global vehicle production, semiconductor availability and raw material costs. Trade tensions, currency fluctuations and potential slowdowns in China — a key market — remain watchpoints. The company carries debt from its 2018 spin-off from Honeywell, though management has steadily reduced leverage.

Wall Street’s consensus price target sits around $22-$24, implying more modest upside from pre-earnings levels but now appearing conservative after Thursday’s rally. Several firms maintain Buy or Outperform ratings, citing undervaluation relative to growth prospects and margin expansion potential.

For long-term investors, Garrett offers exposure to both legacy auto strength and emerging electrification trends. Its technologies support 48-volt mild hybrids and high-performance electric systems, positioning it across multiple powertrain scenarios. The company’s focus on industrial applications, including aerospace and energy, provides additional buffers.

Shareholder returns have become a priority. Beyond the quarterly dividend, the $87 million in first-quarter buybacks signal confidence. Garrett has authorization for further repurchases, potentially supporting the stock if earnings momentum continues.

The broader auto supplier sector has faced headwinds from softening new vehicle sales and inventory corrections. Yet Garrett’s outperformance reflects its technological edge and exposure to high-growth segments. Global turbocharger penetration continues rising as emissions regulations tighten worldwide.

Looking ahead, Garrett plans its 2026 Technology and Investor Day on May 20 in New York City, where executives are expected to detail innovation pipelines, including advanced cooling solutions and next-generation boosting systems. The event could provide further catalysts.

Risks remain. A sharper-than-expected slowdown in global auto production, commodity inflation or supply chain disruptions could pressure margins. Competition from other turbo specialists and in-house OEM development adds uncertainty. Valuation has expanded rapidly on today’s move, raising questions about near-term pullback potential.

Still, the earnings-driven rally underscores investor appetite for companies delivering tangible results amid economic uncertainty. Garrett’s ability to beat estimates while raising guidance stands out in an earnings season marked by caution.

As trading continued Thursday, GTX maintained most of its gains with strong conviction. The reaction reflects relief that Garrett’s hybrid bet is paying off while diversification efforts gain traction. Whether this marks the start of a sustained rebound or a short-term spike depends on execution in coming quarters.

For now, the message from the market is clear: Garrett Motion’s combination of strong fundamentals, raised expectations and strategic positioning has reignited investor enthusiasm. At a time when many auto suppliers struggle with EV transition uncertainty, Garrett stands out as a beneficiary of the prolonged hybrid era.

The coming months will test whether the company can sustain this momentum. With Q2 results due in late July and the investor day on the horizon, attention will focus on order books, margin trends and progress in non-auto segments. For shareholders riding the 22% wave, today’s surge validates patience — and raises hopes for further upside as 2026 unfolds.

This story about the March 2026 PCE inflation is developing and will be updated with more details.

The Federal Reserve’s preferred inflation gauge remained stubbornly high in March as consumers continued to face elevated price growth.

The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.7% on a monthly basis in March and is up 3.5% from a year ago. Both figures were in-line with the expectations of economists polled by LSEG.

Core PCE, which excludes volatile measurements of food and energy prices, was up 0.3% from a month ago and increased 3.2% year over year. Both figures were in line with economists’ expectations from the LSEG poll.

FEDERAL RESERVE LEAVES INTEREST RATES UNCHANGED AS POWELL’S CHAIRMANSHIP NEARS END

Federal Reserve policymakers are focused on the PCE headline figure as they try to bring inflation back to their long-run target of 2%, though they view core data as a better indicator of inflation. Compared with February’s annual readings, headline PCE rose from 2.8% to 3.5% in March, while core PCE increased from 3% to 3.2%.

Goods prices were up 0.7% in March compared with a year ago, and increased 1.4% on a monthly basis.

Services prices rose 2.8% compared with last year in March, and were up 0.3% on a monthly basis.

HOW DOES FED CHAIR NOMINEE KEVIN WARSH VIEW THE CENTRAL BANK’S INFLATION GOAL?

The BEA reported that headline PCE inflation was up 3.5% from a year ago in March, while core PCE was up 3.2%. (Justin Sullivan/Getty Images / Getty Images)

The personal savings rate as a percentage of disposable personal income was 3.6%, down from 3.9% in February and 4.5% in January.

Since the start of 2025, the personal savings rate has declined from 5.1% in January 2025 and a recent peak of 5.5% last April.

What experts are saying

Heather Long, chief economist at Navy Federal Credit Union, said that while the “stock market and economy are being held up mainly by the big surge in AI investment,” the inflation

“Meanwhile, on Main Street, people are hurting from the highest inflation in three years and gas prices back at $4.30. Households are paying about $70 more a month at the pump. Nearly half of the larger tax refunds have already gone to pay for higher gas prices for many families,” Long said. “The only encouraging news is layoffs remain low. But it’s a big warning sign that consumption has slowed to just 1.6% in the first quarter.”

WHO IS KEVIN WARSH, TRUMP’S PICK TO SUCCEED JEROME POWELL AS FED CHAIR?

Federal Reserve Chair Jerome Powell and the FOMC left rates unchanged at yesterday’s meeting amid elevated inflation. (Nathan Howard/Reuters / Reuters)

Bret Kenwell, U.S. investment analyst at eToro, said that, “Headline PCE was in-line with expectations, but that doesn’t soften the blow very much.”

“It still marked the highest year-over-year reading in almost three years, while goods inflation remains a clear pressure point. Durable goods inflation has gone from deflationary to inflationary since May 2025 and continues to accelerate, while non-durable goods inflation jumped as rising energy costs worked their way through the report,” Kenwell explained.

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