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New Holland’s heritage of innovation and style will be spotlighted at Agritechnica 2025. The show will see the debut of the T5.120 ‘Il Trattore’ styling concept tractor, celebrating the enduring legacy of research and development, engineering, and design expertise that began with the first Fiat tractor, the Fiat 702, which will be displayed alongside.
The Il Trattore name signifies the importance of streamlined technology that defines the general-purpose tractor which can take on any task, the essence of that first Fiat tractor and of today’s T5 range. The tractor also underlines New Holland’s commitment to crafting farm machinery that blends style and innovation.
Il Trattore is New Holland’s homage to the iconic 702, one of the earliest mass-produced tractors. Developed to address the labor shortages created by World War I, the 702 introduced a design that marked a turning point in agricultural mechanization. With a four-cylinder engine and load-bearing powertrain, it answered the demands from European farmers for mechanical power to ease physical strain and improve agricultural output. Its success helped establish Fiat’s enduring reputation for agricultural excellence alongside that of Italy’s engineers for innovation and design.
Based on the range-topping model designed and manufactured at New Holland’s Jesi factory in Italy, Il Trattore bears striking green and red coloring and styling inspired by the original Fiat 702. A restored 702, on loan from a Bologna-based collector and dating to 1918, will be displayed alongside the one-of-a-kind special-edition, illustrating the sheer level of progress made in engineering technology over the past century. It highlights the influence of this tractor and its heritage on the style and technology that ensure today’s New Holland brand matches the pace of farmers’ advancing demands.
After the 702’s launch in 1918, Fiat continued to innovate, producing iconically styled tractors such as the Piccola of the 1950s. In the 1970s and 1980s, Fiat demonstrated how style could enhance engineering substance, developing the 80 and 90 series in collaboration with renowned Italian styling house Pininfarina. This design philosophy continued through the 1990s into the era of Fiatagri – as the Fiat agricultural business had become – right through until it eventually evolved into today’s New Holland brand.
Today, New Holland carries forward this legacy, blending Italian design heritage with cutting-edge technology to meet the evolving needs of farmers worldwide and underscoring New Holland’s focus on creating machines of which customers can be proud.
“Our styling of Il Trattore was inspired by the simplicity and iconic face of the Fiat 702. We took the essence of the original design and recreated it for today’s farmers while retaining some retro touches,” says David Wilkie, CNH Head of Industrial Design. “From the Fiat graphic on the front grille to the saddle leather toolbox and seat, there is a wonderful link through form, color and materials in these two iconic designs. It’s been wonderful to be able to reimagine such an important machine and celebrate the essence of ‘Made in Italy’.”
Sobi® (STO: SOBI) today announced that, the TIMI Study Group today has presented positive results from the pivotal Phase 3 CORE and CORE2 studies of olezarsen in people with severe hypertriglyceridemia (sHTG) at the American Heart Association 2025 Scientific Sessions. The studies met the primary endpoint, with olezarsen achieving a highly statistically significant placebo-adjusted mean reduction in fasting triglyceride (TG) levels of up to 72% at six months. The reductions were sustained through 12 months.
Olezarsen showed a highly statistically significant 85% reduction in acute pancreatitis events, the first time this has been achieved in sHTG. Additionally, 86% of olezarsen-treated patients achieved triglyceride levels less than 500 mg/dL. Olezarsen demonstrated favorable safety and tolerability.
In CORE and CORE2 43% of patients had extremely high levels of triglycerides ≥880 mg/dL, which is often equated to multifactorial chylomicronemia syndrome (MCS) due to the associated increased accumulation of chylomicrons. The effect on triglyceride-lowering and reduction in acute pancreatitis in the MCS subgroup were in line with the overall population.
These data were presented today during a late-breaking session at the American Heart Association (AHA) Scientific Sessions, taking place November 7-10 in New Orleans, and simultaneously published in The New England Journal of Medicine.
“CORE and CORE2 are the first studies to show a significant reduction in acute pancreatitis events in sHTG, with most patients on olezarsen achieving triglyceride levels below the risk threshold for these potentially life-threatening episodes,” said Nicholas Marston, M.D., M.P.H, presenting author, cardiologist, Brigham and Women’s Hospital, Harvard Medical School. “As a lipid specialist who takes care of sHTG patients, I have seen the major consequences of acute pancreatitis, including cases with recurrent events requiring frequent hospitalizations. Given the modest effects of conventional therapies, these impactful data are a welcome advance.”
“We are highly encouraged by the CORE and CORE2 results showing that olezarsen can help most patients with severe hypertriglyceridemia achieve safer triglyceride levels and significantly reduce their risk of acute pancreatitis,” said Lydia Abad-Franch, Head of R&D and Chief Medical Officer of Sobi. “It confirms our belief in the promise of olezarsen in a broader patient group and offers new hope for a tangible improvement in quality of life for those who have long struggled with limited treatment options. Sobi is moving forward with the European submission for olezarsen in MCS which we are planning for next year.”
Nearly 1,100 patients were enrolled in the CORE and CORE2 studies, which is the largest pivotal program ever conducted in sHTG, and patients were required to be on standard of care lipid-lowering therapy. The two phase 3, randomized, double-blind, placebo-controlled CORE and CORE2 trials assessed the impact of olezarsen SC every 4 weeks on fasting plasma TG levels and rates of acute pancreatitis in 617 and 446 patients with severe hypertriglyceridemia (sHTG, fasting plasma TG levels ≥ 500 mg/dL).
The CORE and CORE2 studies met the primary endpoint across doses, with olezarsen demonstrating an up to 72% (p<0.001) placebo-adjusted mean reduction in fasting triglyceride levels at six months. The reductions were sustained through 12 months. Olezarsen demonstrated a highly statistically significant 85% reduction in adjudicated acute pancreatitis events at 12 months (p<0.001). These results were based on a total of 22 events in 17 patients in the placebo group, compared to seven events in five patients in the olezarsen group (pooled 50 mg and 80 mg dose groups).
Olezarsen demonstrated a favourable safety and tolerability profile in the CORE and CORE2 studies. Adverse events were balanced across treatment arms (75% olezarsen 50 mg; 76% olezarsen 80 mg; 75% placebo). Serious adverse events occurred less frequently in the olezarsen group compared to placebo (9% olezarsen 50 mg; 11% olezarsen 80 mg; 14% placebo). The most common treatment-emergent events were injection site reactions, which were mostly mild and occurred more frequently with olezarsen (10% olezarsen 50 mg; 17% olezarsen 80 mg; 1% placebo).
An open-label extension (OLE) study of olezarsen for sHTG is ongoing. More than 90% of patients who completed CORE and CORE2 chose to continue into the OLE.
Sobi is preparing to submit a marketing authorisation application for olezarsen in MCS to EMA in 2026. Its partner Ionis is on track to submit a supplemental new drug application for sHTG to the FDA by the end of this year.
About the CORE and CORE2 Studies
CORE (NCT05079919; n=617) and CORE2 (NCT05552326; n=446), conducted with The TIMI Study Group, are Phase 3 global, multicenter, randomized, double-blind, placebo-controlled trials investigating the safety and efficacy of olezarsen for severe hypertriglyceridemia (sHTG). Participants aged 18 and older with triglyceride levels ≥500 mg/dL were enrolled. Participants were required to be on standard of care therapies for elevated triglycerides. At baseline, 43% of participants had baseline fasting triglycerides ≥880 mg/dL. Participants were randomized to receive 50 mg or 80 mg of olezarsen or placebo every 4 weeks via subcutaneous injection for 12 months. The primary endpoint is the percent change from baseline in fasting triglycerides at six months compared to placebo.
About Severe Hypertriglyceridemia (sHTG) and Multifactorial Chylomicronemia Syndrome (MCS)
Severe hypertriglyceridemia (sHTG) is defined by severely high triglycerides (≥500 mg/dL) and characterized by an increased risk of acute pancreatitis and other morbidities. Considered a medical emergency, acute pancreatitis causes debilitating abdominal pain that often requires prolonged hospitalization, can lead to permanent organ damage and can become life-threatening. Preventing the first attack is key. In people with triglycerides ≥880 mg/dL and/or a history of acute pancreatitis episodes, the risk of future attacks is even greater. Triglyceride levels ≥880 mg/dL are often equated to multifactorial chylomicronemia syndrome (MCS) due to the increased accumulation of chylomicrons at these extremely high triglyceride levels. Current standard of care therapies for sHTG or MCS and lifestyle modifications (such as diet and exercise) do not sufficiently or consistently lower triglyceride levels or reduce the risks in all patients. Approximately 2 million people are living with sHTG in the EU5, including approximately 700,000 who are considered having MCS.
About Olezarsen and the Sobi-Ionis partnership
Olezarsen is an investigational RNA-targeted medicine being evaluated for the treatment of sHTG. Olezarsen is designed to lower the body’s production of apoC-III, a protein produced in the liver that regulates triglyceride metabolism in the blood. Olezarsen is approved in the U.S. and the European Union as TRYNGOLZA® for adults with familial chylomicronemia syndrome (FCS).
Olezarsen is being developed by Ionis Pharmaceuticals, Inc. Sobi and Ionis have entered into a license agreement under which Sobi receives exclusive rights in countries outside the U.S., Canada, and China to commercialise olezarsen as a potential treatment for familial chylomicronemia syndrome (FCS) and severely elevated triglycerides.
Sobi®
Sobi is a global biopharma company unlocking the potential of breakthrough innovations, transforming everyday life for people living with rare diseases. Sobi has approximately 1,900 employees across Europe, North America, the Middle East, Asia and Australia. In 2024, revenue amounted to SEK 26 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn.
Contacts
For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here.
“A key negative catalyst came from China, which reduced its VAT exemption on certain retail gold purchases, likely cooling physical demand sentiment in Asia,” Doshi said.
Silver underperforms as industrial sentiment softens amid global slowdown fears: Silver prices also eased during the week, reflecting a similar consolidation seen in the yellow metal.
On the MCX, the white metal futures for December delivery declined by Rs 559, or 0.38%, in the holiday-shortened week. It had closed at Rs 1,47,728 per kilogram on Friday.
Comex silver futures for December delivery edged lower last week. It had settled at USD 48.14 an ounce on Friday.
US companies’ earnings are growing at the fastest pace in four years, defying predictions that President Donald Trump’s trade war would trigger a slowdown across corporate America.
Median earnings growth year-on-year across the Russell 3000 index — a benchmark for the entire US stock market — hit 11 per cent in the third quarter, up from 6 per cent in the previous three months, according to Morgan Stanley. That is the fastest growth rate since the third quarter of 2021.
Six of the 11 sectors that make up the blue-chip S&P 500 index have reported positive average earnings growth in the three months to September, according to Deutsche Bank analysts, up from just two — financials and megacap technology stocks — between April and June.
The buoyant growth comes despite warnings earlier this year from executives that Trump’s sweeping tariffs would push up costs, hit supply chains and pose a threat to economic growth.
“Companies have found ways to absorb the tariff impact and consumers will keep spending so long as they have a job,” said Dec Mullarkey, managing director at SLC Management, which runs $300bn in assets.
Goldman Sachs equity strategist David Kostin said the vast majority of S&P 500 companies have reported their third quarter figures and results so far are above analysts’ consensus forecasts and one of the highest rates on record.
“In our 25-year data history, this frequency of earnings surprises has been surpassed only during the Covid reopening period in 2020-2021,” he wrote in a note to clients this week.
Analysts expect earnings to grow by 7.5 per cent in the fourth quarter, according to data provider FactSet.
Corporate sentiment has been helped by trade deals with Japan and the EU, while last month Trump and Chinese leader Xi Jinping agreed a one-year trade truce.
Carmakers Ford and General Motors have said they expect a smaller tariff hit as a result of the Trump administration’s extended relief measures for imported car parts.
Power companies, real estate groups and industrials are also recording strong sales growth and expanding margins. NRG Energy benefited from data centre construction and improving travel demand boosted Southwest Airlines.
Banks including Goldman Sachs, Citigroup and JPMorgan Chase have posted bumper profits, helped by a resurgence of dealmaking activity and strong trading income thanks to financial market volatility.
Despite Meta disappointing the market with hefty capital expenditure plans, Big Tech groups such as Alphabet, helped by Google’s search and advertising business, and Microsoft posted results that topped analysts’ estimates.
However, warnings from some consumer-facing companies suggest many Americans may be struggling, say analysts.
The chief executive of packaged foods group Kraft Heinz flagged consumer sentiment going into the Christmas period as “one of the worst” in decades, while hamburger chain McDonald’s said customers had been pulling back from its more expensive offerings.
Companies selling goods rather than services “have been the clear laggards” this earnings season, said Deutsche analysts, with “consumer-facing companies” faring worse than those selling predominantly to other businesses.
The absence of official jobs data caused by the US government shutdown has added to investors’ uncertainty about the state of the labour market and the health of the consumer.
Alternative sources of data including the National Federation of Independent Business, the San Francisco Federal Reserve and state-level jobless claims show the jobs market “is still doing well”, said Torsten Sløk, chief economist at investment firm Apollo Global Management.
That is despite significant lay-offs by big companies recently, with at least 17 S&P 500 groups, including Amazon, UPS and Target, shedding roughly 80,000 jobs since the start of September, according to Goldman Sachs.
The University of Michigan’s index of consumer sentiment fell to a three-year low in November. Falling confidence “was widespread throughout the population, seen across age, income and political affiliation”, said Joanne Hsu, the survey’s director.
There was “one key exception”, Hsu added — sentiment among consumers with large stock holdings rose 11 per cent.
Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management, said a “widening chasm” between the haves and have-nots explained why consumer demand appeared resilient despite the weakening labour market.
The top 40 per cent of households by income “control nearly 85 per cent of America’s wealth, two-thirds of which is directly tied to the stock market, which has climbed more than 90 per cent in three years”, she said.
As a result, “forecasting the labour market may increasingly be less important than forecasting the direction of the stock market itself in order to understand consumption levels”.
Golar LNG Limited (NASDAQ:GLNG) shareholders are probably feeling a little disappointed, since its shares fell 6.4% to US$38.42 in the week after its latest third-quarter results. It was an okay result overall, with revenues coming in at US$123m, roughly what the analysts had been expecting. Earnings are an important time for investors, as they can track a company’s performance, look at what the analysts are forecasting for next year, and see if there’s been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
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Taking into account the latest results, the most recent consensus for Golar LNG from six analysts is for revenues of US$375.2m in 2026. If met, it would imply a notable 15% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to ascend 17% to US$0.69. Before this earnings report, the analysts had been forecasting revenues of US$384.6m and earnings per share (EPS) of US$0.80 in 2026. The analysts seem less optimistic after the recent results, reducing their revenue forecasts and making a real cut to earnings per share numbers.
Check out our latest analysis for Golar LNG
Despite the cuts to forecast earnings, there was no real change to the US$51.79 price target, showing that the analysts don’t think the changes have a meaningful impact on its intrinsic value. That’s not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Golar LNG at US$57.00 per share, while the most bearish prices it at US$44.50. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. One thing stands out from these estimates, which is that Golar LNG is forecast to grow faster in the future than it has in the past, with revenues expected to display 12% annualised growth until the end of 2026. If achieved, this would be a much better result than the 5.0% annual decline over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 3.1% per year. So it looks like Golar LNG is expected to grow faster than its competitors, at least for a while.
Olectra Greentech Ltd.’s profit for the second quarter of FY26 rose 4.2% year-on-year, according to an exchange filing on Saturday.
The company reported a consolidated bottom-line of Rs 49.5 crore, compared to 47.5 crore in the year-ago period.
Revenue jumped 25.4% to Rs 657 crore from Rs 524 crore in the corresponding quarter last year.
Earnings, before interest, tax, depreciation, and amortisation rose nearly 10% to Rs 89.2 crore from Rs 81.2 crore in Q2 FY25.
However, Ebitda margin narrowed to 13.6% from 15.5%.
The company also informed that its Whole Time Director Reddy Peketi resigned. Earlier in June the company’s Chairman KV Pradeep had also turned in his resignation citing personal reasons.
By Christine Idzelis
The S&P 500 is down in November as the U.S. government shutdown persists
It’s been a rough start to November for the U.S. stock market.
The U.S. stock market is off to its worst start to a month since April as investors grapple with the longest U.S. government shutdown in history, among other worries.
“If the shutdown extends much longer,” going beyond next week and into the Thanksgiving holiday, “then I think we’ll get the full-blown correction” in the stock market, said Jamie Cox, a financial advisor and managing partner at Harris Financial Group, in a phone interview Friday. The market is now “awake to the risks” associated with a drawn-out shutdown, he said, sending a message this week that it could start hurting corporate profits.
The shutdown, which began at the start of October, is now disrupting air travel and raising concerns that it could strain consumers as the holiday season approaches, while shaving growth off the economy. The Dow Jones Industrial Average DJIA, S&P 500 SPX and Nasdaq Composite COMP all finished Friday with weekly losses – each booking their worst five-day start to a month since April, when President Donald Trump’s “liberation day” tariffs roiled markets, according to Dow Jones Market Data.
Below is more on what’s worrying the U.S. stock market at the moment.
Government shutdown
The shutdown has left investors navigating markets without the typical batch of economic reports from the U.S. government that give a fuller picture on the health of the economy.
Meanwhile, “flights are delayed, food programs are in trouble and federal workers aren’t being paid,” said Thomas Block, a Washington policy strategist at Fundstrat, in a note to the firms’ clients Friday. “There is some optimism that the shutdown can come to an end next week, but the key could be whether President Trump wants to personally engage.”
Alec Phillips, Goldman Sachs’s chief U.S. political economist, estimated in a Nov. 2 research note that if the shutdown lasts around six weeks, it could reduce quarter-on-quarter annualized real growth in gross domestic product over the final three months of 2025 by 1.15 percentage points, “primarily as a result of federal employee furloughs.”
Concerns about consumers
The University of Michigan’s consumer-sentiment index released Friday fell in November to the lowest level since the record low seen in June 2022. The preliminary reading indicated that consumer sentiment has soured more this month than Wall Street expected.
“With the federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy,” Joanne Hsu, director of the University of Michigan’s Surveys of Consumers, said Friday on the university’s website.
“This month’s decline in sentiment was widespread throughout the population, seen across age, income and political affiliation,” she noted. “One key exception: Consumers with the largest tercile of stock holdings posted a notable 11% increase in sentiment, supported by continued strength in stock markets.”
Investors will be watching to see if consumers continue to spend during the holidays, despite feeling gloomy. Normally, investors would see monthly data from the government on U.S. retail sales next week on Nov. 14, but the shutdown has disrupted the usual economic calendar.
Labor-market worries
The U.S. stock market slumped Thursday after a report from outplacement firm Challenger, Gray & Christmas showed that layoffs soared in October. Alternative data sources such as the Challenger report are getting heightened attention from investors amid the vacuum of economic data during the shutdown. Normally, the government would have released on Friday a U.S. jobs report for October, but it wasn’t available due to the shutdown.
Stock-market valuations
Investors are worried that the enthusiasm around artificial intelligence has propelled the S&P 500 to a series of record highs this year that have left it both richly valued and extremely top-heavy.
The S&P 500 has outsize exposure to Big Tech stocks that trade at lofty multiples of earnings compared to the index. Meanwhile, the index’s information-technology sector XX:SP500.45 just had its worst week since April, ending Friday with a weekly loss of 4.2%, according to FactSet data.
Despite stumbling in November, the S&P 500 ended Friday 2.4% below its record close on Oct. 28, according to Dow Jones Market Data. A stock-market correction would entail a drop of at least 10% from a recent peak.
“Pullbacks are normal,” said Carol Schleif, chief market strategist at BMO Private Wealth, in a phone interview Friday. “They’re never comfortable, but they’re normal.”
-Christine Idzelis
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CGI Inc. (TSE:GIB.A) came out with its annual results last week, and we wanted to see how the business is performing and what industry forecasters think of the company following this report. Revenues of CA$16b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at CA$7.35, missing estimates by 2.5%. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there’s been a strong change in the company’s prospects, or if it’s business as usual. Readers will be glad to know we’ve aggregated the latest statutory forecasts to see whether the analysts have changed their mind on CGI after the latest results.
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Taking into account the latest results, the consensus forecast from CGI’s 13 analysts is for revenues of CA$16.7b in 2026. This reflects a satisfactory 5.1% improvement in revenue compared to the last 12 months. Per-share earnings are expected to expand 16% to CA$8.86. Yet prior to the latest earnings, the analysts had been anticipated revenues of CA$16.7b and earnings per share (EPS) of CA$8.77 in 2026. So it’s pretty clear that, although the analysts have updated their estimates, there’s been no major change in expectations for the business following the latest results.
View our latest analysis for CGI
It will come as no surprise then, to learn that the consensus price target is largely unchanged at CA$157. That’s not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on CGI, with the most bullish analyst valuing it at CA$185 and the most bearish at CA$137 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. We can infer from the latest estimates that forecasts expect a continuation of CGI’shistorical trends, as the 5.1% annualised revenue growth to the end of 2026 is roughly in line with the 6.0% annual growth over the past five years. Compare this with the broader industry (in aggregate), which analyst estimates suggest will see revenues grow 12% annually. So it’s pretty clear that CGI is expected to grow slower than similar companies in the same industry.