For decades, the standard play for wealthy out-of-state transplants was to head straight for the high-octane flash of Florida’s East Coast. But as California’s housing affordability challenges, homelessness and proposals for higher taxes have pushed some families to a state of constant “high alert,” a secondary corporate and residential gold rush is quietly emerging along the Gulf Coast.

Driven by an I-75 corridor stretching from Tampa to Marco Island, Hollywood elites and high-net-worth families are trading the challenges of major West Coast cities for what transplants describe as a “smaller, safer Beverly Hills,” helping fuel a multibillion-dollar real estate boom in historically quiet retirement havens.

“This is actually very, very common, especially the younger that the family is. I think that the older the demographic gets, they are coming specifically for one reason, and that’s either retirement or to be close to family. But when you have a younger family… or someone that just graduated college, they are looking for lots of different life transitions to happen, wherever that is. So they are not just looking for where they’re familiar with vacationing and what that kind of lifestyle is, they want to know what it’s like to live there,” Compass agent and Naples native Madeline Tracy told Fox News Digital.

Her clients, longtime Los Angeles actors Philip Levens and Carolyn Stotesbery, recently purchased a home in Naples after spending more than two decades in California.

SILICON VALLEY ELITE DROP RECORD WEALTH TO BUILD FLORIDA’S NEW ‘TECH CAPITAL’

“I flew into Tampa, St. Pete, Sarasota, went all the way down the coast and I kept saying, ‘No, this isn’t where I would want to live.’ And I was actually getting a little depressed thinking, okay, well, maybe this side of Florida isn’t what we need,” Levens recalled. “I remember I drove to downtown Naples, and then I took a right there that goes to the dead ends of the beach. I got out of the car… I called my wife and I said, ‘This is where we’re going to live.’”

“He was FaceTiming me from the beach,” Stotesbery said, “and he just had a sparkle in his eye, and showed me the beach and the city, and loved the architecture and the colors, and it just really called to us.”

“Tampa down to Naples is a unique corridor because it gives you, in that two-and-a-half-hour geographical drive that you would have… you have both culture, you have the arts there, but you’re able to settle in a more quaint community that isn’t as urbanized as it may be on the East Coast,” Kolter Urban Senior Vice President Ed Jahn told Fox News Digital.

The Gulf Coast migration could soon see an extra boost as newly-minted millionaires from tech IPOs like SpaceX — and eventually Anthropic and OpenAI — move their capital and residencies to tax-friendly Florida, finding more price flexibility along the state’s western coastline as markets like Miami become oversaturated.

For Levens and Stotesbery, their move is fueled by what they describe as a desire to escape concerns about public safety and city governance in major metropolitan areas such as Los Angeles.

“The first thing I notice is there’s no homeless people in homeless tents, [homeless] cities and garbage,” Levens said. “When you come from a city that is not well-run, like Los Angeles, you immediately notice the difference, and just everything seems to work.”

“I was walking my daughter in the stroller in Los Angeles and there was a homeless man like lying on the ground while I was strolling past,” Stotesbery said. “It just really kept my nervous system on high alert, and so when we came here, just the entire vibe of the city made us feel just more at ease and peaceful.”

Naples has transformed significantly over the last 15 years from a quiet retirement town with agricultural remnants into an elite luxury destination that now attracts premier global brands. Upon his first visit, Levens said it reminded him of Beverly Hills.

CALIFORNIA EXODUS 2.0: HOW SPACEX, TECH IPOs COULD TRIGGER THE NEXT MASSIVE WEALTH FLIGHT TO FLORIDA

“Downtown Naples has a very similar architectural style to Beverly Hills. That struck me right [away], I saw that immediately. But also, Beverly Hills is a very clean, safe area, but it’s still surrounded by Los Angeles. And so you don’t have that here. You have swamps or… the ocean,” he explained. “So Naples as a whole is much safer than Beverly Hills, and it’s cleaner, too.”

“When I was five years old, okay, Waterside Shops was not Waterside Shops. It was a strip mall with a Victoria’s Secret in it, and next to the CVS was a chicken farm. So it has so drastically changed over time with just the commercial aspect of it really building up,” Tracy added. “They do have this exclusivity feel, but also this extension of feeling like, oh, this feels like home, this feels something familiar where I just came from that you can’t get [anywhere] else.”

“The East Coast did seem quite hustle-and-bustle for us and our family,” Stotesbery also noted. “Peacefulness was a big part of what I valued for my daughters growing up and our children in general… If we wanna go off for a weekend to Miami, like we can go off for a weekend to Miami or to Delray or the East Coast, have a date night over there, bring in grandma, watch the kids. But what do we want for our overall experience day to day?”

The wave of liquid capital emanating from recent gains in the technology sector, private-company liquidity events and financial markets has lowered the average age of luxury buyers, creating a younger class of affluent primary residents. This trend has benefited developers like Kolter Urban, which has more than $3.2 billion invested in active Gulf Coast developments.

“When you come from a city that is not well run, like Los Angeles, you immediately notice the difference.”

– Philip Levens

“These buyers that are in the financial markets, whether they’re in cryptocurrency… or private equity, that group of buyer wants flexibility, wants convenience. And the urban condo high-rise lifestyle that is centered in great walkability areas, such as Sarasota, St. Pete, Tampa, down in Naples, offers them that,” Jahn said.

According to the local real estate professionals and recent transplants, overcoming the hesitation to relocate often leads to a ripple effect: Once a household makes the move, friends and colleagues in higher-tax states frequently express interest in following suit.

“Focus on the lifestyle, not the house. You can make a house into a home by changing the floors, by changing whatever you want. But it’s so, so important that you do what Carolyn and Philip did and come down, experience the neighborhoods,” Tracy encouraged.

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“It’s a big move from California to here. It’s 3,000 miles and there’s a lot of things your friends say, ‘Why? How can you leave?’” Levens said. “So it’s a difficult move, but I would say just do it… Fortune smiles on the bold. Just make the move and things will fall into place the way you need them to.”

“There’s always a reason to talk yourself out of something like this,” Stotesbery said. “But when you decide, ‘I want to change, I want a new lifestyle, this isn’t working for me anymore,’ and you stop procrastinating and move past that fear and that anxiety, it’s so worth it.”

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Shares of Billionbrains Garage Ventures, the parent company of digital investment platform Groww, have been volatile. Yet behind the short-term price swings, a bigger trend is emerging: institutional investors are showing increasing confidence in the company’s growth story. Foreign Institutional Investors (FIIs) and Mutual Funds both raised their holdings in Groww during the June 2026 quarter, signalling that large investors are optimistic about the company’s ability to benefit from India’s rapidly expanding retail investment market.

The optimism is also supported by Groww’s strong Q1FY27 performance. The company delivered a strong Q1FY27 performance, with net profit surging 94% year-on-year and revenue climbing 66%. Following the results, several leading brokerages maintained a positive view on the stock, with some raising their price targets.

With institutional ownership rising and earnings momentum improving, the key question for investors is — should you Buy, Sell, or Hold Groww shares?

Groww Q1FY27 Results: Profit nearly doubles, Revenue jumps 66%

The company reported a 94.44% year-on-year jump in Q1FY27 net profit to Rs 735 crore, compared with Rs 378 crore in the corresponding quarter last year.
Groww’s revenue from operations also witnessed a sharp uptick, rising 66% to Rs 1,504 crore from Rs 904 crore in the corresponding quarter of the previous financial year.

What are brokerages saying after the Q1FY27 results?

Global brokerage Jefferies has maintained a positive stance on Groww and assigned a target price of Rs 250, indicating a potential upside of around 21%.According to Jefferies, Groww is well positioned to benefit from the structural shift in household savings from traditional fixed-income products toward equity and market-linked investments. The brokerage highlighted Groww’s product-agnostic platform, noting that expansion into newer products and services could increase customer engagement and improve wallet share.

Jefferies has raised its FY27-FY29 earnings per share (EPS) estimates by 1-6%, with the revised target price also reflecting a valuation roll-forward to September 2028. The brokerage noted that the stock currently trades at around 45 times FY27 estimated earnings, with an expected three-year EPS compound annual growth rate (CAGR) of about 30%.
JM Financial has turned more positive on Groww, upgrading its rating from Sell to Buy and increasing the target price to Rs 250 from Rs 170. The brokerage said its confidence in Groww’s growth outlook has improved after the company delivered a resilient performance despite a slowdown in retail trading activity compared with the previous quarter’s peak.
JM Financial highlighted improving operational efficiency, with Groww’s cost-to-income ratio declining by 3 percentage points quarter-on-quarter to 36%. The brokerage has raised its FY27, FY28, and FY29 EPS estimates by 4%, 6%, and 11%, respectively. It now values Groww at a 50% premium to Angel One, compared with 20% earlier, citing stronger earnings growth, better margins, and a larger customer asset base.
Motilal Oswal has also retained its Buy rating on Groww with a revised target price of Rs 250. The brokerage expects Groww’s broking order volumes to grow by more than 20% during FY27 and FY28, supported by continued market share gains and improving revenue per order. It believes additional growth drivers could come from businesses such as Margin Trading Facility (MTF), Loan Against Securities (LAS), and wealth management services.

Motilal Oswal has increased its earnings estimates by 1% for FY27 and 3% for FY28, factoring in improved operating efficiency. The revised target price is based on a valuation of 38 times FY28 estimated EPS.

The rise in institutional ownership, strong customer growth, improving operational efficiency, and positive brokerage commentary indicate growing confidence in Groww’s long-term story.

For long-term investors, Groww’s expanding ecosystem, rising retail participation in equities, and institutional backing remain key positives. Short-term investors may need to monitor valuation comfort and market volatility before taking fresh positions.

Groww shares doubled investor wealth since listing

Billionbrains Garage Ventures made its stock market debut on November 12, 2025, listing on both the NSE and BSE. The company’s IPO was priced at Rs 100 per share, while the stock opened at a listing price of Rs 112 per share. Since then, the stock has delivered strong returns. Currently trading around Rs 203 per share, Groww has more than doubled investor wealth from its issue price in just about eight months.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Samsung’s upcoming Galaxy Watch 9 will run on Qualcomm’s new Snapdragon Wear Elite processor, according to newly leaked promotional images that confirm months of prior reporting about the smartwatch’s biggest hardware shift in years, just days ahead of the device’s official unveiling.

The leaked marketing materials, shared by longtime leaker Evan Blass through his “Leakmail” newsletter, include an image explicitly labeling the standard Galaxy Watch 9, not the higher-end Watch Ultra 2, as “Powered by Snapdragon Wear Elite.” The image marks the clearest visual confirmation yet that Samsung is moving away from its longtime in-house Exynos chip for the flagship version of its smartwatch line, following a series of earlier leaks that had pointed toward the same conclusion.

The end of an Exynos era

The shift represents a significant change for Samsung’s wearable strategy. The Galaxy Watch series has relied exclusively on Samsung’s own Exynos chipsets for years, a choice that had actually worked in Samsung’s favor during an extended period when Qualcomm’s competing smartwatch processors lagged behind in performance. With Qualcomm’s chip technology having since closed that gap and, according to recent reporting, surpassed Exynos in key performance metrics, the open question heading into this year was whether Samsung would abandon its in-house silicon for its watch lineup entirely. The newly leaked images suggest the answer is yes, at least for the standard Galaxy Watch 9 model.

Qualcomm first announced the Snapdragon Wear Elite chip earlier this year, describing the 3-nanometer processor as offering substantially faster overall performance along with expanded capacity for on-device artificial intelligence tasks. At the time of that announcement, Qualcomm also confirmed that Samsung would be adopting the chip for at least one upcoming device, though the exact model lineup remained unconfirmed until this week’s leaked imagery.

What the new chip is expected to deliver

According to multiple reports tracking the Galaxy Watch 9’s development, the Snapdragon Wear Elite chip is expected to bring a meaningful jump in both raw performance and power efficiency compared with the outgoing Exynos W1000 processor used in the Galaxy Watch 8. Estimates from industry reports have pointed to as much as a 50% performance boost alongside power efficiency improvements of up to 30%, translating into longer battery life alongside faster processing.

The chip’s dedicated neural processing unit is also expected to enable more advanced on-device artificial intelligence features without requiring a constant connection to a paired smartphone, including capabilities such as real-time fitness coaching and instant smart reply suggestions generated directly on the watch itself. Additional connectivity upgrades tied to the new chip are expected to include Bluetooth 6.0 support and ultra-wideband compatibility for more precise device tracking and location-based features.

Samsung’s own marketing has already confirmed the shift

Beyond the leaked images, Samsung itself began teasing the Galaxy Watch 9’s new processor directly through its own official channels earlier this month. Three promotional videos posted to Samsung’s newsroom described a Snapdragon-based processor replacing the company’s Exynos chip, alongside a wrist-raise gesture designed to activate Google’s Gemini assistant and expanded health-tracking features Samsung has described as functioning like a personal coach for nutrition, exercise, sleep and stress management.

Those official teasers, combined with the newly leaked promotional renders, leave little doubt about the processor switch heading into Samsung’s Galaxy Unpacked event, scheduled to take place in London on July 22. The Galaxy Watch 9 is expected to launch alongside the more rugged Galaxy Watch Ultra 2, as well as Samsung’s next generation of foldable phones, the Galaxy Z Fold 8 and Galaxy Z Flip 8.

What remains unconfirmed

While the chip switch itself now appears effectively confirmed through both leaked marketing materials and Samsung’s own teasers, several details about the Galaxy Watch 9 remain unofficial ahead of next week’s launch event. Samsung has not yet confirmed pricing for the new smartwatch, though some industry estimates have suggested a starting price similar to the Galaxy Watch 8’s prior pricing structure. Exact per-model specifications, including potential differences between the standard Watch 9 and the Ultra 2 in terms of processor configuration, battery capacity and additional hardware features, are also expected to be detailed formally at the Unpacked keynote rather than through leaks.

Reports have also pointed to a refreshed design for the new smartwatch generation, with leaks suggesting a return to a more streamlined aesthetic alongside updated software built on the newest version of Google’s Wear OS platform. Additional expected features include expanded durability certifications and support for activities such as trail running and dive detection, according to Samsung’s own promotional teasers.

With Samsung’s Galaxy Unpacked event now just days away, the Galaxy Watch 9’s full specifications, pricing and broader software features are expected to become official during the July 22 keynote in London. Given how closely this week’s leaked marketing images align with Samsung’s own recent teasers, industry observers say there is little remaining uncertainty about the smartwatch’s core hardware direction, even as final pricing and additional feature details are still expected to be revealed formally at next week’s event.

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Shares of Punjab National Bank (PNB) jumped nearly 6% on Monday after the public lender reported a 214% YoY surge in Q1FY27 net profit to Rs 5,253 crore, prompting brokerages to raise their ratings and target prices.

PNB shares surged to Rs 111.68 apiece, the highest level seen by the stock since early May this year. The bank on Saturday released its Q1 results, showing a 2% YoY rise in net interest income (NII) to Rs 10,798 crore.

PNB’s current account savings account deposits increased around 8% YoY to Rs 5.69 lakh crore, while total term deposits increased 9% YoY to Rs 10.21 lakh crore. Global advances, meanwhile, grew around 13% YoY to Rs 12.73 lakh crore.

The PSU lender’s return on assets (RoA) increased to 1.04% in Q1 FY27 from 0.37% in Q1 FY26, but decreased from Rs 1.06% in Q4 FY26. Return on Equity (RoE) meanwhile stood at 17.33% during the quarter under review.

PNB’s asset quality improved, with gross non-performing assets (NPAs) declining to 2.78% at the end of the June quarter, from 3.78% a year ago. Gross Non-Performing Assets (GNPA) in absolute terms declined by Rs 7,292 crore to Rs 35,381 crore from Rs 42,673 crore, while Net Non-Performing Assets (NNPA) eased by Rs 699 crore to Rs 3,433 crore from Rs 4,132 crore as on June 2025. Similarly, net NPAs, or bad loans, declined to 0.26%, as against 0.38% in the year-ago period.

JM Financial on PNB share price

JM Financial upgraded its rating on the shares of PNB to ‘Add’ from ‘Reduce’, and increased its target price to Rs 120 apiece from Rs 110 apiece. The latest target price implies more than 9% upside potential.

The domestic brokerage noted that PNB reported a healthy Q1 FY27 earnings print with PAT rising 214% YoY, beating its estimate by 17%, driven by improving core operating performance and continued strengthening in asset quality. NII grew 2% YoY as NIM expanded 6 bps QoQ, supported by lower funding costs and continued run-down of low-yielding IBPC and corporate exposures, it said.
Loan growth remained healthy despite balance-sheet re-pricing, while management reiterated confidence in further margin improvement through FY27, aided by FCNR mobilisation and continued repricing of liabilities, JM Financial said, adding that asset quality remained resilient.“Given improving core profitability, resilient asset quality and FCNR mobilisation providing incremental support to funding, downside looks limited at ~0.8xFY28 P/BV. Accordingly, we raise our FY27E/FY28E EPS estimates by 18%/15%,” it said.

Motilal Oswal on PNB share price

Motilal Oswal Financial Services said PNB reported a mixed quarter, with earnings beat led by controlled provisions and opex, while margins improved 3 bps QoQ. Provisions came in lower, reflecting strong asset quality, while opex was lower due to fewer AS-15 provisions and a decline in PSLC costs.

Also read: HDFC Bank shares fall 5% after Q1 results. Should you buy, sell or hold the stock?

The domestic brokerage noted that PNB’s business growth remained modest, and management guided for loan growth of nearly 12-13% in FY27. Asset quality trends were healthy, with slippages showing a dip with no significant stress. It reiterated its ‘Buy’ call on the stock with a target price of Rs 135, implying a 28% upside potential.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Shares of Kotak Mahindra Bank declined 3.5% to Rs 376 on the BSE on Monday after the lender reported a standalone net profit of Rs 4,123 crore in the first quarter of FY27, marking a 26% jump from the year-ago period.

Net interest income increased 9% YoY to Rs 7,928 crore from Rs 7,259 crore, while the bank’s net worth rose more than 14% YoY to Rs 1.4 lakh crore.

Asset quality improved on a year-on-year basis, although key ratios weakened sequentially. Net non-performing assets (NPA) declined 11% YoY to Rs 1,358 crore from Rs 1,531 crore, but increased 7.5% from Rs 1,262 crore reported in the March quarter. Gross NPA fell 8% YoY to Rs 6,122 crore, with the gross NPA ratio at 1.18% and the net NPA ratio at 0.27%. Fresh slippages during the quarter declined 27% YoY to Rs 1,321 crore.

Also Read | F&O Talk: Nifty IT gaining strong momentum, says Sudeep Shah; outlines HDFC Bank, ICICI Bank strategy after Q1 results

Should you buy, sell or hold Kotak Mahindra Bank shares?

Motilal Oswal has reiterated its Buy rating on Kotak Mahindra Bank with a target price of Rs 470, implying an upside of around 21%. The brokerage said the bank delivered a steady quarter, supported by controlled slippages and credit costs, along with stable net interest margins (NIM). It expects NIM to improve gradually as the share of unsecured and commercial loans increases, while noting that the unsecured portfolio has largely stabilised and credit costs should remain well contained.
Motilal Oswal highlighted a meaningful pickup in corporate lending, driven by better spreads and volatility in treasury markets, with the bank aiming to outpace system loan growth through a mix of organic and inorganic expansion.

JM Financial has maintained its Add rating on Kotak Mahindra Bank with a target price of Rs 415, implying an upside of around 6.4%. The brokerage said the bank continues to benefit from steady asset quality and the acquisition of Deutsche Bank‘s India consumer banking business, although sluggish loan growth is likely to keep profitability improvement gradual. It believes the stock’s current standalone valuation of around 1.4x FY28E BVPS remains reasonable and has valued the core banking business at 1.6x FY28E BVPS while retaining its target price.
Also Read | Q1 earnings begin on a strong note as banks fuel double-digit growth
Dolat Capital has maintained its Accumulate rating on Kotak Mahindra Bank with a target price of Rs 455, an upside of 17% from current levels. The brokerage said the bank’s Q1FY27 profit after tax was largely in line with expectations, as treasury losses were offset by lower-than-expected credit costs, while return on assets (RoA) remained stable at 2.1%.
Dolat Capital’s target valuation of 1.7x FY28E core price-to-book reflects the bank’s strong liability franchise and expectation of 15% loan growth. While it expects return on equity (RoE) to remain below peers despite lower credit costs and stable margins, the brokerage believes the stock’s current valuation of 1.3x FY28E core P/B remains attractive and supports its positive stance.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Port Talbot-based Hybrisan has been acquired by Eumar Technology

Port Talbot-based chronic wound care business Hybrisan is under new ownership.

The business has been acquired by leading wound care manufacturer Eumar Technology in a deal creating a new contract development manufacturing organisation (CDMO) powerhouse in the UK

Chronic hard-to-heal wounds represent a significant and growing challenge for healthcare systems. The global advanced wound care market has experienced high levels of growth in recent years and was valued at over $20 billion in 2025.

The acquisition positions the combined business to develop and commercialise advanced wound care solutions that improve patient outcomes and support more efficient care pathways.

Founded in 2013 Hybrisan (the trading name of Universal Synergistic Holdings) has built a strong reputation in chronic wound care. Its lead product, WoundSan, is a clinically evidenced wound cleansing technology currently progressing through EU medical device regulation approval and expected to reach the market later this year.

Hybrisan will continue to operate from its headquarters in Port Talbot, with increased investment from its new owners .

Chris Mortimer, chief technology officer (formerly chief executive of Hybrisan), said: “Combining Hybrisan’s development expertise with Eumar’s manufacturing capability, infrastructure and commercial reach will allow us to accelerate innovative wound care solutions to market. The continuation of operations in Port Talbot ensures the specialist skills we have built in South Wales remain central to the group’s future.”

Euan Davidson, chairman of Eumar Technology, said: “This acquisition is central to our long-term strategy to build a leading UK medical device business.

“We are committed to investing in skilled employment and manufacturing excellence across both Herefordshire and South Wales, with the goal of creating a CDMO recognised internationally for taking innovative products from concept to commercial manufacture entirely within the UK.”

Frank Holmes (partner) and Sean David (executive) of Cardiff-based Gambit Corporate Finance advised Hybrisan’s shareholders on the transaction.

Mr David, commented: “Hybrisan’s innovative technology deserves to reach the market, which it will do through its partnership with Eumar. This transaction exemplifies the value to corporate acquirers seeking diversification, growth and competitive advantage, whilst commercialising valuable intellectual property”.

The value of the deal has not been disclosed. In 2014 the business secured a six-figure equity investment from the Development Bank of Wales.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of RISR, PFIX 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.