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HBT Finl

HBT Financial Inc provides a comprehensive suite of business, commercial, wealth management, and retail banking products and services to individuals, businesses, and municipal entities throughout Central and Northeastern Illinois and Eastern Iowa. It operates through one reportable segment: community banking.

HBT Financial Inc

Huobi BTC

HC Wainwright &amp; Co. analyst Kevin Dede reiterates Biotricity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTCY#NASDAQ">BTCY</a>) with a Neutral.

News

Reiteration

Analyst Ratings

BTCY

HC Wainwright & Co. Reiterates Neutral on Biotricity

MARA Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) ("MARA" or the "Company"), a global leader in leveraging digital asset compute to support the energy transformation, today announced that it intends to offer, subject to market conditions and other factors, $700 million aggregate principal amount of convertible senior notes due 2030 (the "notes") in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). MARA also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $105 million aggregate principal amount of the notes. The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.
The notes will be unsecured, senior obligations of MARA and will bear interest payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2025. The notes will mature on March 1, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after March 5, 2028, MARA may redeem for cash all or any portion of the notes. If MARA redeems fewer than all the outstanding notes, at least $75 million aggregate principal amount of notes must be outstanding and not subject to redemption as of the relevant redemption notice date. Holders of the notes will have the right to require MARA to repurchase for cash all or any portion of their notes on December 1, 2027. The notes will be convertible into cash, shares of MARA's common stock, or a combination of cash and shares of MARA's common stock, at MARA's election. Prior to December 1, 2029, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The interest rate, initial conversion rate, and other terms of the notes will be determined at the time of pricing of the offering. MARA expects that the reference price used to calculate the initial conversion price for the notes will be the U.S. composite volume weighted average price of MARA's common stock from 2:00 p.m. through 4:00 p.m. Eastern Daylight Time on the date of pricing.
MARA expects to use up to $200 million of the net proceeds from the sale of the notes to repurchase a portion of its existing convertible notes due 2026 (the "existing 2026 convertible notes") in privately negotiated transactions with the remainder of the net proceeds to be used to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.

Offerings

MARA

MARA Holdings Announces $700M Convertible Note Offering to Boost Bitcoin Holdings and Debt Repurchase

HC Wainwright &amp; Co. analyst Kevin Dede reiterates Sphere 3D (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANY#NASDAQ">ANY</a>) with a Buy and maintains $3 price target.

Price Target

HC Wainwright & Co. Reiterates Buy on Sphere 3D, Maintains $3 Price Target

HC Wainwright &amp; Co. analyst Kevin Dede maintains My Size (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYSZ#NASDAQ">MYSZ</a>) with a Buy and lowers the price target from $5 to $3.

MYSZ

HC Wainwright & Co. Maintains Buy on My Size, Lowers Price Target to $3

Liberty Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>, "Liberty" or the "Company"))) today commented on the announcement by President-elect Donald J. Trump regarding his nomination of Chris Wright, Liberty's Founder, Chairman of the Board, Director and Chief Executive Officer, for the position of U.S. Secretary of Energy. The appointment of Mr. Wright as Secretary of Energy is subject to confirmation by the U.S. Senate, and Mr. Wright will continue in his current positions with the Company until confirmation occurs.
Effective upon and subject to this confirmation and in accordance with the Company's succession plan, the Board of Directors intends to appoint William Kimble as non-executive Chairman of the Board and Ron Gusek as Chief Executive Officer.
"I am deeply honored by this nomination and opportunity to serve our country and continue the mission of bringing affordable, reliable energy to the citizens of the United States and beyond," commented Mr. Wright.
Mr. Wright continued, "Succession planning has been a priority of the Board. Having worked closely with both Bill and Ron, Liberty will be in the safest of hands upon my departure. Ron has been a close partner to me for over two decades and possesses all the criteria to ensure Liberty continues leading the industry in technology innovation and service quality while delivering growth for our valued shareholders."
Mr. Kimble has been a member of the Board of Directors since the Company's initial public offering in January 2018 and has served as Lead Director since October 2018. Mr. Gusek joined Liberty in 2014 and has served as President of the Company since November 2016.

Government

Regulations

Management

LBRT

Liberty Energy CEO Chris Wright Nominated for US Energy Secretary, Eyes William Kimble As New chair And Ron Gusek As CEO

Oscar Health, Inc. ("Oscar") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSCR#NYSE">OSCR</a>), a leading healthcare technology company, today announced that the Anahata Foundation ("Anahata"), a charitable foundation established by Mark T. Bertolini, Oscar's Chief Executive Officer, purchased 933,333 shares on the open market the week of November 11, 2024. Oscar was not a party to any of these transactions.
Bertolini said: "I believe in the future of Oscar. I am convinced Oscar is the company with the talent, products, and technology to change healthcare. The future is bright. My continued investment in Oscar reiterates my confidence in our growth, in the team, and in our opportunity to make the individual market the chosen solutions for all Americans."

OSCR

Oscar Health CEO's Foundation Purchases Nearly 1 Million Shares, Signaling Confidence in Company's Future

Neurogene Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NGNE#NASDAQ">NGNE</a>), a clinical-stage company founded to bring life-changing genetic medicines to patients and families affected by rare neurological diseases, today announced an update on its ongoing Phase 1/2 open-label clinical trial evaluating NGN-401 gene therapy for the treatment of Rett syndrome.
As previously disclosed, on November 11,2024, Neurogene became aware of an emerging treatment-related serious adverse event (SAE) in a trial participant who received NGN-401 at a dose of 3E15 vg (high-dose cohort). This participant, who was dosed on November 5, subsequently experienced signs of a systemic hyperinflammatory syndrome, a rare and life-threatening immune response that has been reported with systemic exposure to high doses of AAV. Hyperinflammatory syndromes are associated with aberrant cytokine release and include hemophagocytic lymphohistiocytosis (HLH) and multisystem inflammatory syndrome. The participant is in critical condition, and the case is continuing to evolve.
"We are deeply saddened for the family. While no words could possibly provide comfort to her family, we ask the Rett syndrome community to join us in sending heartfelt thoughts to her family, friends and the dedicated clinicians who are caring for her," said Rachel McMinn, Ph.D., Founder and Chief Executive Officer of Neurogene. "The safety of the participants in our clinical trial is and remains our foremost priority as we work to find solutions for this devastating disease."
In a commitment to full transparency with the U.S. Food and Drug Administration (FDA), Neurogene proactively engaged with the FDA under the START program following the Company's notification of the SAE. The FDA completed a review of the safety data for NGN-401 and allowed Neurogene to proceed with the Phase 1/2 trial using the 1E15 vg dose (low-dose cohort). Neurogene paused further use of the 3E15 vg dose (high-dose cohorts) upon initial notification of the SAE and does not plan to enroll any further participants at the 3E15 vg dose level.
To date, there have been no other treatment-related SAEs in the clinical trial, including in the five participants who received the 1E15 vg dose (low-dose cohort) and in the first two participants who received the 3E15 vg dose (high-dose cohort) of NGN-401. All treatment-related AEs in the 1E15 vg cohort (low-dose cohort) have been Grade 1 (mild). Most treatment-related AEs are known potential risks of AAV, have been responsive to steroids, and have resolved or are resolving. There have been no signs or symptoms indicative of MeCP2 overexpression toxicity. In addition, there have been no intracerebroventricular (ICV) procedure-related AEs.
Neurogene no longer anticipates completing enrollment in the 1E15 vg cohort (low-dose cohort) of NGN-401 in the fourth quarter of 2024 as the Company updates the protocol to reflect the discontinuation of the 3E15 vg dose.

NGNE

Neurogene Halts High-Dose Gene Therapy Trial After Serious Adverse Event in Rett Syndrome Patient

To support this transition, following Gori's retirement he has agreed to serve as an Advisor through August 31, 2025.

Manulife Financial President And CEO Roy Gori Intends To Retire, Effective May 8, 2025, With Phil Witherington Appointed As His Successor

<ul>
<li>We are revising our annual revenue guidance for 2024 increasing the lower range of our revenue guidance from $540 million to $544 million reflecting our continued solid momentum for the remaining part of the year and positive outlook. Our full year revenues guidance for 2024 is $544 million to $550 million.</li>
</ul>

Guidance

MGIC

Magic Software Enterprises Expects FY24 Revenue Of $544M-$550M (Prior $540M-$550M) Vs $544.87M Est

Earnings

Earnings Beats

Earnings Misses

Magic Software Q3 2024 Adj. EPS $0.23 Misses $0.25 Estimate, Sales $142.968M Beat $137.776M Estimate

Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) plans to issue U.S. dollars and Chinese yuan bonds to raise capital. The company aims to repay existing debt and support an ongoing stock buyback initiative.
The decision to tap the bond market comes as the company seeks to leverage low global interest rates, providing an opportunity to replenish its capital base while enhancing shareholder value.
Also Read: <a target="_blank" href="https://www.benzinga.com/media/24/11/41984426/nvidia-powers-teslas-humanoid-robots-with-new-ai-tech-heres-what-to-expect-in-2025" rel="noreferrer noopener">Nvidia Powers Tesla&#8217;s Humanoid Robots With New AI Tech: Here&#8217;s What To Expect In 2025</a>
The exact principal amount, interest rates, and maturity terms for the bonds will be determined at the time of pricing, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3287038/alibaba-sell-bonds-repay-debt-fund-stock-buy-back-amid-low-interest-rates" rel="noreferrer noopener">cites</a> a filing with the Hong Kong Stock Exchange.
The issuance will likely generate up to $5 billion, with Reuters indicating the dollar-denominated bonds will have maturities of 5.5, 10.5, and 30 years.
The yuan-denominated bonds will carry tenors of 3.5, 5, 10, and 20 years, showcasing a broad range of options for potential investors.
Market analysts suggest that declining interest rates in the Asia-Pacific region have made debt issuance an attractive option for companies like Alibaba. This enables them to execute share buybacks and invest strategically without incurring high financing costs.
Kenny Ng Lai-yin, a strategist at Everbright Securities International, told the SCMP that this environment offers a unique chance for firms to enhance capital returns through debt financing.
Last week, Alibaba reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42006281/alibaba-q2-earnings-revenue-beats-forecast-cloud-and-international-sales-shine-free-cash-flow-falls-amid-strategic-investments" rel="noreferrer noopener">fiscal second-quarter 2024</a> revenue growth of 5% to $33.70 billion, beating the analyst consensus of $33.47 billion.
Taobao and Tmall Group revenue grew by 1% to $14.11 billion,
Alibaba International Digital Commerce Group&#8217;s revenue increased by 29% to $4.51 billion, and Local Services Group revenue grew by 14% to $2.53 billion.&nbsp;
Cainiao Smart Logistics Network Limited&#8217;s revenue increased 8% to $3.51 billion.&nbsp; Cloud Intelligence Group revenue grew by 7% to $4.22 billion.&nbsp;
As of September 30, Alibaba reported total outstanding liabilities of 202.2 billion yuan ($27.9 billion) in bank loans and bonds, marking an 18% increase since March.
The company raised $5.5 billion in May through a convertible bond issue. The current bond offering aligns with Alibaba&#8217;s aggressive stock repurchase program, initiated during the pandemic in 2020.
Yields on U.S. Treasuries are currently around 4.31% for five-year notes, 4.44% for ten-year notes, and 3.62% for thirty-year bonds. In contrast, Chinese government bonds offer significantly lower yields, with three-year and five-year bonds yielding 1.35% and 1.7%, respectively.
This disparity provides Alibaba with favorable conditions for its planned bond issuance, reducing the overall cost of borrowing.
The company&#8217;s strategic push to increase buybacks reflects a broader trend among top Chinese tech firms, driven by steep declines in stock valuations.
Alibaba&#8217;s shares have fallen approximately 70% from their peak in late 2020 despite continued growth in sales and profits due to economic weakness, domestic regulatory crackdown, and <a target="_blank" href="https://www.benzinga.com/24/11/41911946/whats-going-on-with-us-listed-chinese-stocks-like-alibaba-jd-nio-on-tuesday" rel="noreferrer noopener">disappointing fiscal stimulus</a>.
During the third quarter, Alibaba repurchased $4.1 billion worth of shares, reducing its outstanding share count by 2.1% from the end of June. The company&#8217;s CFO, Toby Xu Hong, emphasized the importance of these buybacks as a signal of confidence in Alibaba&#8217;s business outlook.
Michael Burry&#8217;s fund <a target="_blank" href="https://www.benzinga.com/news/global/24/11/42002224/big-short-investor-michael-burry-doubles-down-on-chinese-tech-stocks-while-adding-protective-hedges" rel="noreferrer noopener">increased its stakes in</a> Alibaba, JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), making Chinese tech its largest holdings.
Despite boosting exposure, Burry hedged risks by purchasing put options, signaling caution on potential market volatility.
Price Action:&nbsp;BABA stock is up 0.42% at $88.96 premarket at&nbsp;the last check on Monday.
Also Read:
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<li><a href="https://www.benzinga.com/government/regulations/24/11/41981957/meta-hit-with-841-million-eu-fine-over-antitrust-violations-tied-to-facebook-marketplace" target="_blank" rel="noreferrer noopener">Meta Hit With $841 Million EU Fine Over Antitrust Violations Tied To Facebook Marketplace</a></li>
</ul>
Image via Shutterstock

Emerging Markets

Buybacks

Tech

Media

BABA

BIDU

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Alibaba Eyes Raising $5 Billion Via Bond Sale to Fund Debt Payoff and Stock Buybacks

Perpetua Resources Corp. (Nasdaq:&nbsp;PPTA) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PPTA#TSX">PPTA</a>)&nbsp;("Perpetua Resources" or the "Company") today announced the launch of a public offering of 3,439,465 shares of its common stock (the "Common Shares") in the United States ( the "Offering").
The Company expects to use the net proceeds of the Offering for down payments on long lead time materials, detailed engineering for its Stibnite Gold Project, and general corporate purposes.
The Common Shares will be offered by the Company with BMO Capital Markets and National Bank of Canada Financial Markets acting as joint lead book-running managers and RBC Capital Markets and Cantor acting as joint book-running managers (collectively, the "Underwriters").&nbsp;
Perpetua Resources intends to grant the Underwriters an option, exercisable for a period of 30 days from the date hereof, to purchase up to an additional 515,919 Common Shares representing up to 15% of the number of Common Shares to be sold pursuant to the Offering.

PPTA

TSX:PPTA

Perpetua Resources Launches Public Offering Of 3.44 Million Shares to Fund Stibnite Gold Project Expansion

Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) shares are trading higher premarket on Monday. The company disclosed a restructuring support agreement (RSA) with a supermajority of its loyalty and convertible bondholders to implement a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42030743/spirit-airlines-announces-comprehensive-agreement-to-deleverage-balance-sheet-and-position-the-com" rel="noreferrer noopener">comprehensive balance sheet restructuring</a>.
The plan aims to reduce debt, enhance financial flexibility, support long-term success, and accelerate investments to improve guest travel experiences and value.
The company&#8217;s key measures include a $350 million backstopped equity investment from existing bondholders and the equitization of $795 million in funded debt.
Additionally, bondholders are providing $300 million in DIP financing, complemented by Spirit&#8217;s cash reserves and operational cash flow, to support the restructuring process.
Spirit has filed a Plan of Reorganization as part of its Chapter 11 process, incorporating the terms of the RSA and awaiting Court approval.
With support from a supermajority of loyalty and convertible bondholders, the company expects to emerge from Chapter 11 in the&nbsp;first quarter of 2025.
First-day motions are also being filed to ensure normal business operations during the process.
As a result of the filing, Spirit anticipates being delisted from the NYSE soon, with its common stock continuing to trade over-the-counter. The shares are expected to be canceled and hold no value as part of the restructuring.
Ted Christie, Spirit&#8217;s President and Chief Executive Officer, said, &#8220;This set of transactions will materially strengthen our balance sheet and position Spirit for the future while we continue executing on our strategic initiatives to transform our Guest experience, providing new enhanced travel options, greater value and increased flexibility.&#8221;&nbsp;
Last week, Spirit filed the form, signaling it cannot submit its 2024 third-quarter earnings on time, as the company has diverted resources from reviewing and completing financial statements to<a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/11/41946520/whats-going-on-with-spirit-airlines-stock-wednesday-2" rel="noreferrer noopener"> ongoing debt restructuring discussions</a>.
This came after Spirit&#8217;s merger conversations with Fronter Group Holdings Inc. and and its takeover by&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud" rel="noreferrer noopener">JetBlue Airways</a><a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud" rel="noreferrer noopener"> fell through</a>.
Price Action: SAVE shares are up 3.70% at $1.12 premarket at the last check Monday.
Photo: Courtesy of Smart Calendar via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/ma/24/11/42025534/deal-dispatch-shell-unilever-and-more-are-on-the-sell-side-the-onion-makes-alex-jones-cry-foul" target="_blank" rel="noreferrer noopener">Deal Dispatch: Shell, Unilever And More Are On The Sell Side; The Onion Makes Alex Jones Cry Foul</a></li>
</ul>

Equities

Small Cap

Movers

SAVE

Spirit Airlines Eyes Restructuring With Chapter 11 Filing And Equity Injection

DThe Board of Directors of CVS Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) today announced the appointment of four new board members: Leslie Norwalk, Larry Robbins, Guy Sansone, and Doug Shulman, following productive discussions with Glenview Capital Management.
"In our discussions with the leadership at Glenview, we agreed that we can deliver greater value from our integrated businesses to all of our stakeholders, including our customers, consumers, colleagues, and shareholders," said Roger Farah, Executive Chairman of the Board, CVS Health. "Having Leslie, Larry, Guy, and Doug join our Board will add new thinking and deep market and industry experiences as we focus on driving greater financial and operational performance."
"As we build momentum across our integrated model, we continue to take actions that are positive for our long-term success, while driving innovation and performance in our individual businesses and at CVS Health overall," said David Joyner, president and chief executive officer of CVS Health. "Adding four experienced thought leaders to our Board further sharpens our focus on executing against our strategy to build a world of health around every consumer, as we improve total cost of care and customer experience in health care."
"We welcome the opportunity to join the Board, roll up our sleeves and lock arms with the Board and leadership team to drive long-term, sustainable value through continued customer-centric offerings, commitment to compliance and quality, disciplined underwriting and risk management, aligned incentives, and optimal capital allocation," said Larry Robbins, CEO of Glenview Capital Management.&nbsp; "We appreciate the Board engaging with us on a cooperative basis that allows all energies to be productively dedicated towards further strengthening this iconic company."
Norwalk will join the Health Services Committee, Sansone will join the Audit Committee, and Shulman will join the Management Planning and Development Committee.

CVS Health Adds Four New Directors Leslie Norwalk, Larry Robbins, Guy Sansone, and Doug Shulman After Discussing With Glenview Capital Management, Strengthening Board With Industry Veterans

"The Board of Directors' approval of this stock repurchase program reflects confidence in the Company's balance sheet and business outlook," said Rajiv K. Prasad, President and Chief Executive Officer of Hyster-Yale, Inc. "This stock repurchase authorization is well aligned with our capital allocation strategy designed to support long-term profitable growth and fuel shareholder return as the business generates free cash flow."

Hyster-Yale Approves $50M Buyback Plan, Aims To Repurchase Up To 1.5M Shares

Tuya&nbsp;Inc. ("Tuya")&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TUYA#NYSE">TUYA</a>, HKEX: 2391))), a global leading cloud platform service provider, today announced that a definitive agreement has been entered into in respect of a strategic investment by 65 Equity Partners through its purchase of an approximate 13% of Tuya's total issued shares from New Enterprise Associates ("NEA").
65 Equity Partners is an independently managed wholly-owned investment platform of Temasek dedicated to supporting founders in their growth journey. The firm focuses on investing in family-owned and entrepreneur-led businesses in Southeast Asia, Europe and the United States across the technology, business services, consumer, industrials and healthcare sectors.
Tan Chong Lee, CEO of 65 Equity Partners said: "This investment via the Anchor Fund aligns strategically with our mandate of supporting high quality businesses seeking a listing on the SGX. We are pleased to support Tuya in its next phase of growth." Karan Saraf of 65 Equity Partners added: "Tuya is the global leader in the smart solution developer ecosystem, with a highly differentiated competitive positioning across smart cloud-based software and device solutions. We are thrilled to be part of Tuya's exciting journey where its strong leadership, brand and ethos of innovation have attracted a highly diverse global customer base."
Jerry Wang, Founder and CEO of Tuya, stated: "We are delighted&nbsp;to welcome 65 Equity Partners&nbsp;as a significant shareholder of Tuya. This investment reflects their confidence in our vision to capture growing international markets as the key enabler of global AIoT, intelligent devices, commercial and industry applications, by empowering over one million developers worldwide with our unique cloud platform. The Asia-Pacific region, particularly Southeast Asia,&nbsp;represents an enormous opportunity for us as it is a fast-growing emerging market. We believe the investment from 65 Equity Partners aligns seamlessly with our international expansion strategy and offers possibilities for a future additional listing on the SGX, which&nbsp;will further enhance Tuya's presence in the global capital markets. We also deeply appreciate NEA's support throughout our journey and value their continued role as an important shareholder of Tuya."

TUYA

Tuya Gains Major Backing From Temasek's 65 Equity Partners In Strategic Expansion Move

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is gearing up for an ambitious global expansion, setting its sights on significantly increasing its production capacity.
The company plans to initiate construction on several new semiconductor fabrication plants worldwide by 2025, with more than ten facilities either newly built or under construction, Economic Daily News <a target="_blank" href="https://udn.com/news/story/7240/8366464" rel="noreferrer noopener">reports</a>.
The contract chipmaker&#8217;s substantial capital investment will likely climb to unparalleled levels in 2025, with legal forecasts suggesting expenditures could range from $34 billion to $38 billion, pushing the company&#8217;s capital outlay to record highs.
Also Read: <a target="_blank" href="https://www.benzinga.com/media/24/11/42008569/salesforce-loses-ai-chief-amid-major-push-for-autonomous-agents" rel="noreferrer noopener">Salesforce Loses AI Chief Amid Major Push for Autonomous Agents</a>
Industry insiders told Economic Daily News this surge in capital spending is a direct response to the growing demand for advanced semiconductor manufacturing processes, including the ramp-up of 2-nanometer technology.
Taiwan Semiconductor&#8217;s ongoing expansion involves multiple projects within Taiwan, including significant developments in Hsinchu and Kaohsiung.
According to the report, these locations will likely serve as core production bases for advanced 2-nanometer chips. Four fabrication plants, focusing on cutting-edge wafer manufacturing, are planned across these two regions.
Additionally, advanced packaging facilities are under development, incorporating the latest CoWoS (Chip-on-Wafer-on-Substrate) and SoIC (System-on-Integrated-Chips) technologies.
On the international front, Taiwan Semiconductor is moving forward with its plans for new plants in key overseas markets.
The company has confirmed that construction of its second factory in Japan&#8217;s Kumamoto region will commence in early 2025, targeting mass production by 2027.
In the United States, Taiwan Semiconductor is advancing with the buildout of a second wafer fab in Arizona, while a specialized process facility in Dresden, Germany, is also making headway.
Industry data told Economic Daily News that Taiwan Semiconductor&#8217;s aggressive growth trajectory will lead to an average of five new factories annually between 2022 and 2023. In 2024, this pace is expected to accelerate, with the company planning to build seven new facilities, including three advanced wafer fabs and two state-of-the-art packaging plants, alongside two overseas factories.
By 2025, Taiwan Semiconductor aims to exceed ten simultaneous projects globally—a first for the semiconductor sector and a significant boost to the company&#8217;s output capacity.
Taiwan Semiconductor will receive up to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/42011035/just-before-bidens-term-ends-taiwan-semiconductor-lands-6-6-billion-in-us-funding-to-build-advanced-chip-plants" rel="noreferrer noopener">$6.6 billion in U.S. funding</a> and $5 billion in proposed loans to develop advanced semiconductor plants in Arizona, strengthening local chip production.
The contract chipmaker&#8217;s Arizona facilities will likely begin operations in early 2025, producing chips for future technologies like 5G/6G networks and AI applications.
The chip manufacturer has accelerated its use of extreme ultraviolet (EUV) lithography systems, a crucial tool in semiconductor production, despite their high costs. Each EUV system exceeds $100 million, ranking among the priciest equipment in the industry.
Analysts estimate that Taiwan Semiconductor has expanded its EUV capacity significantly, growing its global share of EUV installations from 50% in 2020 to 56% in 2023.
Taiwan Semiconductor stock surged over 83% year-to-date.
Price Action: TSM stock traded lower by 1.11% to $183.95 premarket at the last check on Monday.
Also Read:
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<li><a href="https://www.benzinga.com/24/11/42005094/lenovo-q2-earnings-cloud-momentum-ai-pcs-and-smartphone-growth-drive-revenue-beat" target="_blank" rel="noreferrer noopener">Lenovo Q2 Earnings: Cloud Momentum, AI PCs, And Smartphone Growth Drive Revenue Beat</a></li>
</ul>
Photo by wakamatsu.h via Shutterstock

Taiwan Semiconductor Plans Major Global Expansion, Sets Record $38 Billion Investment Target

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Zura Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZURA#NASDAQ">ZURA</a>) with a Neutral and maintains $5 price target.

ZURA

HC Wainwright & Co. Reiterates Neutral on Zura Bio, Maintains $5 Price Target

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Instil Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIL#NASDAQ">TIL</a>) with a Buy and maintains $110 price target.

HC Wainwright & Co. Reiterates Buy on Instil Bio, Maintains $110 Price Target

Chinese electric scooter company Niu Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIU#NASDAQ">NIU</a>) reported a fiscal third-quarter 2024 revenue growth of 10.5% to 1.02 billion Chinese yuan ($145.90 million), mainly due to an increase in sales volume of 17.5%, partially offset by a decrease in&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42029845/niu-technologies-announces-unaudited-third-quarter-2024-financial-results" rel="noreferrer noopener">revenues per e-scooter of 6.0%</a>.
The company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">loss per ADS of&nbsp;$(0.07)</a>.&nbsp;Adjusted&nbsp;net loss was (34.25) million&nbsp;Chinese yuan, compared to&nbsp;(69.96) million Chinese yuan loss a year ago.&nbsp;
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The number of e-scooters sold increased by 17.5%&nbsp;Y/Y&nbsp;to 312,405, with sales in China growing by 12.4%.&nbsp;International e-scooter sales climbed 50.3% to 53,311 units. The number of franchised stores in China was 3,345 as of September 30, 2024.
The quarterly gross margin declined 760 basis points Y/Y to 13.8%, mainly due to a higher proportion of kick-scooter sales in international markets, changes in the product mix of e-scooters, and increased sales incentives to franchisees in the Chinese market.
The operating loss for the quarter was (58.49) million&nbsp;Chinese yuan versus&nbsp;a loss of (89.52) million Chinese yuan a year ago.&nbsp;The&nbsp;company held 1.05 billion Chinese yuan in cash and equivalents&nbsp;as of September 30, 2024.
CEO Yan Li noted that third-quarter sales growth fell short of targets due to recent policy changes in China affecting sales timing. However, retail demand remains robust, and the upcoming product lineup aligns with the new regulations, positioning the company well to manage these shifts. The launch of the NX Hyper electric motorcycle represents a key milestone, emphasizing a focus on performance and innovation.
Li added that the company has maintained a strong pace of new store openings this year, creating a solid base for future growth. At the recent Milan EICMA event, they introduced a series of new scooters, highlighting advanced design and innovative technology. These models will soon launch in the EU and the US.
Li expressed confidence in navigating market changes and delivering strong performance.
Outlook: Niu&nbsp;expects <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">fourth-quarter&nbsp;revenues</a> of 622 million Chinese yuan &#8211; 718 million Chinese yuan, representing a&nbsp;30%-50%&nbsp;Y/Y&nbsp;increase.
Niu Technologies stock plunged 7% year-to-date.
Price Action: NIU shares closed lower by 0.50% at $1.99 on Friday.
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