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<figure class="wp-block-image"><a class="tablogofocus" href="https://www.newswire.ca/news-releases/inplay-oil-corp-confirms-monthly-dividend-for-january-2026-871654025.html#"><img src="https://mma.prnewswire.com/media/2851323/InPlay_Oil_Corp__InPlay_Oil_Corp__Confirms_Monthly_Dividend_for.jpg?w=200" alt="InPlay Oil logo (CNW Group/InPlay Oil Corp.)" title="InPlay Oil logo (CNW Group/InPlay Oil Corp.)"/></a></figure>



<a href="http://www.channelchek.com/company/ipoof">Research News and Market Data on IPOOF</a>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



CALGARY AB,&nbsp;Jan. 2, 2026&nbsp;/CNW/ - InPlay Oil Corp. (TSX:&nbsp;<a href="https://www.newswire.ca/news-releases/inplay-oil-corp-confirms-monthly-dividend-for-january-2026-871654025.html#financial-modal">IPO</a>) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on January 30, 2026, to shareholders of record at the close of business on January 15, 2026. The monthly cash dividend is expected to be designated as an "eligible dividend" for Canadian federal and provincial income tax purposes.



About InPlay Oil Corp.



InPlay is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.



<a href="https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4586194-1&amp;h=272331321&amp;u=https%3A%2F%2Fwww.inplayoil.com%2F&amp;a=www.inplayoil.com" target="_blank" rel="noreferrer noopener">www.inplayoil.com</a>&nbsp;



SOURCE InPlay Oil Corp.<img alt="" src="https://rt.newswire.ca/rt.gif?NewsItemId=C0830&amp;Transmission_Id=202601020730CANADANWCANADAPR_C0830&amp;DateId=20260102">



For further information please contact: Doug Bartole, President and Chief Executive Officer, InPlay Oil Corp., Telephone: (587) 955-0632;&nbsp;Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634

Research News and Market Data on IPOOF







CALGARY AB,&nbsp;Jan. 2, 2026&nbsp;/CNW/ &#8211; InPlay Oil Corp. (TSX:&nbsp;IPO) (OTCQX: IPOOF) (&#8220;InPlay&#8221; or the &#8220;Company&#8221;) is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on January 30, 2026, to shareholders of record at the close of business on January 15, 2026. The monthly cash dividend is expected to be designated as an &#8220;eligible dividend&#8221; for Canadian federal and provincial income tax purposes.



About InPlay Oil Corp.



InPlay is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.



www.inplayoil.com&nbsp;



SOURCE InPlay Oil Corp.



For further information please contact: Doug Bartole, President and Chief Executive Officer, InPlay Oil Corp., Telephone: (587) 955-0632;&nbsp;Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634

Release - InPlay Oil Corp. Confirms Monthly Dividend for January 2026

Energy

InPlay Oil Corp.

IPOOF

<figure class="wp-block-image aligncenter size-full"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/auiaf-logo-pr.png" alt="" class="wp-image-50091"/></figure>



<a href="http://www.channelchek.com/company/auiaf">Research News and Market Data on AUIAF</a>



January 02, 2026 7:00 AM EST | Source:&nbsp;<a href="https://www.newsfilecorp.com/company/2477/Aurania-Resources-Ltd.">Aurania Resources Ltd.</a>



Toronto, Ontario--(Newsfile Corp. - January 2, 2026) -&nbsp;Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company")&nbsp;announces that its Board of Directors have agreed to receive their quarterly director fees in the form of stock options in lieu of cash for the fourth quarter of 2025. For more information,&nbsp;<a href="https://api.newsfilecorp.com/redirect/Q2jjNuKqGq">see press releases dated March 31, 2025</a>,&nbsp;<a href="https://api.newsfilecorp.com/redirect/mj55nS0QGn">July 1, 2025</a>&nbsp;and&nbsp;<a href="https://api.newsfilecorp.com/redirect/kX55WtqROx">October 1, 2025</a>.



On December 31, 2025, each director was granted 34,500 stock options at an exercise price of $0.175 in lieu of their director fees for the fourth quarter of 2025. An aggregate of 138,000 stock options was granted. All such stock options will be exercisable for a period of three years from the date of grant and vested immediately upon grant. In the event a director intends to exercise such stock options, such director shall be solely responsible for paying the entirety of the exercise price.



About Aurania Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe and abroad.



Information on Aurania and technical reports are available at&nbsp;<a href="https://api.newsfilecorp.com/redirect/B522YSzaBE">www.aurania.com</a>&nbsp;and&nbsp;<a href="https://api.newsfilecorp.com/redirect/5WrrGtz2oR">www.sedarplus.ca</a>, as well as on Facebook at&nbsp;<a href="https://api.newsfilecorp.com/redirect/LqDDeunvz1">https://www.facebook.com/auranialtd/</a>, Twitter at&nbsp;<a href="https://api.newsfilecorp.com/redirect/oP77Eu0YEo">https://twitter.com/auranialtd</a>, and LinkedIn at&nbsp;<a href="https://api.newsfilecorp.com/redirect/OAzz1HPVQg">https://www.linkedin.com/company/aurania-resources-ltd-</a>.



For further information, please contact:



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Carolyn Muir VP Corporate Development &amp; Investor Relations Aurania Resources Ltd. (416) 367-3200 <a href="mailto:carolyn.muir@aurania.com">carolyn.muir@aurania.com</a></td><td>&nbsp;</td></tr></tbody></table></figure>



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



<figure class="wp-block-image"><img src="https://api.newsfilecorp.com/newsinfo/279350/157/aHR0cHM6Ly91cmwuZW1haWxwcm90ZWN0aW9uLmxpbmsv" alt="info"/></figure>



Source:&nbsp;<a href="https://www.newsfilecorp.com/company/2477/Aurania-Resources-Ltd.">Aurania Resources Ltd.</a>

Research News and Market Data on AUIAF



January 02, 2026 7:00 AM EST | Source:&nbsp;Aurania Resources Ltd.



Toronto, Ontario&#8211;(Newsfile Corp. &#8211; January 2, 2026) &#8211;&nbsp;Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (&#8220;Aurania&#8221; or the &#8220;Company&#8221;)&nbsp;announces that its Board of Directors have agreed to receive their quarterly director fees in the form of stock options in lieu of cash for the fourth quarter of 2025. For more information,&nbsp;see press releases dated March 31, 2025,&nbsp;July 1, 2025&nbsp;and&nbsp;October 1, 2025.



On December 31, 2025, each director was granted 34,500 stock options at an exercise price of $0.175 in lieu of their director fees for the fourth quarter of 2025. An aggregate of 138,000 stock options was granted. All such stock options will be exercisable for a period of three years from the date of grant and vested immediately upon grant. In the event a director intends to exercise such stock options, such director shall be solely responsible for paying the entirety of the exercise price.



About AuraniaAurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe and abroad.



Information on Aurania and technical reports are available at&nbsp;www.aurania.com&nbsp;and&nbsp;www.sedarplus.ca, as well as on Facebook at&nbsp;https://www.facebook.com/auranialtd/, Twitter at&nbsp;https://twitter.com/auranialtd, and LinkedIn at&nbsp;https://www.linkedin.com/company/aurania-resources-ltd-.



For further information, please contact:



Carolyn MuirVP Corporate Development &amp; Investor RelationsAurania Resources Ltd.(416) 367-3200carolyn.muir@aurania.com&nbsp;



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.







Source:&nbsp;Aurania Resources Ltd.

Release - Aurania Directors Receive Stock Options in Lieu of Fees

AUIAF

Aurania Resources

Natural Resources

Long-maturity U.S. Treasuries opened 2026 on a cautious note, following the market’s most robust annual performance in five years. While last year saw substantial gains for government bonds, investors are now recalibrating as the potential for additional Federal Reserve interest-rate cuts raises concerns about inflation and fiscal sustainability.



The 30-year Treasury yield rose roughly two basis points to 4.87%, reflecting modest losses but signaling increased volatility after last year’s record gains. In contrast, shorter-dated Treasuries, which are more directly influenced by Fed policy, remained relatively stable or slightly lower. This divergence continues the trend observed in late 2025, when the Fed cut its target range by three quarter-point moves, leading short-term yields lower while long-term rates were supported by economic resilience and fiscal pressures.



Investor focus has shifted to how a potential new Fed leadership might approach monetary policy. Long-term bond yields face upward pressure not only from prospective rate cuts but also from the U.S. government’s challenging fiscal outlook and signs of continued economic strength. Data released late last year indicated the U.S. economy expanded at the fastest pace in two years, complicating the narrative that rate reductions alone would sustain low yields.



Market participants are also closely watching interest-rate derivatives. Recent trading shows heavy demand for options that protect against the federal funds rate dropping to 0% from its current 3.5% range, while swap contracts suggest a more moderate decline toward a 3% floor by year-end. These instruments highlight investor uncertainty over the Fed’s next moves and underline the tension between potential policy easing and persistent inflation, which remains above the central bank’s 2% target.



Despite these concerns, Treasuries continue to serve a strategic role for investors. Portfolio managers cite historically high stock valuations as a compelling reason to maintain exposure to government bonds, providing a hedge against market corrections. James Athey, a portfolio manager at Marlborough Investment Management, notes that volatility is likely to return to bond markets as investors wrestle with the Fed’s evolving policy stance. This environment may produce short-term swings in long-term yields, even as the overall trend for bonds remains influenced by macroeconomic fundamentals.



Globally, bond markets are experiencing similar pressures. Germany’s 10-year yields climbed six basis points to 2.91%, while the UK’s 10-year yield rose five basis points to 4.53%. In Australia, 10-year bonds slumped as yields jumped eight basis points on speculation that rising commodity prices could accelerate growth and prompt the Reserve Bank of Australia to raise rates. Meanwhile, January marks one of the busiest months for new corporate bond issuance, increasing competition for investor capital and adding another layer of pressure on Treasury prices.



Looking ahead, Treasuries are expected to remain a key tool for risk management, particularly for investors balancing exposure to equities and small caps. While the bond market’s exceptional 2025 performance sets a high bar, 2026 may bring more volatility and narrower returns, underscoring the importance of strategic positioning across maturities.

Long-maturity U.S. Treasuries opened 2026 on a cautious note, following the market’s most robust annual performance in five years. While last year saw substantial gains for government bonds, investors are now recalibrating as the potential for additional Federal Reserve interest-rate cuts raises concerns about inflation and fiscal sustainability.



The 30-year Treasury yield rose roughly two basis points to 4.87%, reflecting modest losses but signaling increased volatility after last year’s record gains. In contrast, shorter-dated Treasuries, which are more directly influenced by Fed policy, remained relatively stable or slightly lower. This divergence continues the trend observed in late 2025, when the Fed cut its target range by three quarter-point moves, leading short-term yields lower while long-term rates were supported by economic resilience and fiscal pressures.



Investor focus has shifted to how a potential new Fed leadership might approach monetary policy. Long-term bond yields face upward pressure not only from prospective rate cuts but also from the U.S. government’s challenging fiscal outlook and signs of continued economic strength. Data released late last year indicated the U.S. economy expanded at the fastest pace in two years, complicating the narrative that rate reductions alone would sustain low yields.



Market participants are also closely watching interest-rate derivatives. Recent trading shows heavy demand for options that protect against the federal funds rate dropping to 0% from its current 3.5% range, while swap contracts suggest a more moderate decline toward a 3% floor by year-end. These instruments highlight investor uncertainty over the Fed’s next moves and underline the tension between potential policy easing and persistent inflation, which remains above the central bank’s 2% target.



Despite these concerns, Treasuries continue to serve a strategic role for investors. Portfolio managers cite historically high stock valuations as a compelling reason to maintain exposure to government bonds, providing a hedge against market corrections. James Athey, a portfolio manager at Marlborough Investment Management, notes that volatility is likely to return to bond markets as investors wrestle with the Fed’s evolving policy stance. This environment may produce short-term swings in long-term yields, even as the overall trend for bonds remains influenced by macroeconomic fundamentals.



Globally, bond markets are experiencing similar pressures. Germany’s 10-year yields climbed six basis points to 2.91%, while the UK’s 10-year yield rose five basis points to 4.53%. In Australia, 10-year bonds slumped as yields jumped eight basis points on speculation that rising commodity prices could accelerate growth and prompt the Reserve Bank of Australia to raise rates. Meanwhile, January marks one of the busiest months for new corporate bond issuance, increasing competition for investor capital and adding another layer of pressure on Treasury prices.



Looking ahead, Treasuries are expected to remain a key tool for risk management, particularly for investors balancing exposure to equities and small caps. While the bond market’s exceptional 2025 performance sets a high bar, 2026 may bring more volatility and narrower returns, underscoring the importance of strategic positioning across maturities.

Long-Maturity Treasuries Slide Into 2026 After Strong 2025 Gains

Bonds

Treasuries

<figure class="wp-block-image"><img src="https://www.noblelinx.com/images/channelchek/research-teaser-header.jpg" alt=""/></figure>



 Friday, January 02, 2026



V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



DMEA ATSP.&nbsp;V2X subsidiary Vertex Aerospace has been named as an awardee to the&nbsp;Defense Microelectronics Activity (DMEA) Advanced Technology Support Program (ATSP), according to the daily Department of War contract award activity. With multi-billion dollar potential, this award caps a strong year for V2X. The Company has won places on multiple billion dollar contracts, which bode well for the future.



Details.&nbsp;DMEA ATSP is an ID/IQ contract with a $23.357 billion ceiling.&nbsp;This multiple award contract has a base ordering period of five years with two option periods, three years and two years respectively, to establish a 10 year ordering period. There are a total of 10 awardees, including Vertex. As an ID/IQ, Vertex will need to compete for each award, but we are confident the Company will receive its fair share of wins under the contract.



<h2 class="wp-block-heading"> <a href="https://www.channelchek.com/research-reports/27972">Get the Full Report</a></h2>



Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, January 02, 2026



V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission&#8217;s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today&#8217;s toughest challenges across all operational domains.



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



DMEA ATSP.&nbsp;V2X subsidiary Vertex Aerospace has been named as an awardee to the&nbsp;Defense Microelectronics Activity (DMEA) Advanced Technology Support Program (ATSP), according to the daily Department of War contract award activity. With multi-billion dollar potential, this award caps a strong year for V2X. The Company has won places on multiple billion dollar contracts, which bode well for the future.



Details.&nbsp;DMEA ATSP is an ID/IQ contract with a $23.357 billion ceiling.&nbsp;This multiple award contract has a base ordering period of five years with two option periods, three years and two years respectively, to establish a 10 year ordering period. There are a total of 10 awardees, including Vertex. As an ID/IQ, Vertex will need to compete for each award, but we are confident the Company will receive its fair share of wins under the contract.



Get the Full Report



Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

V2X (VVX) - A Strong End to 2025 Awards

Defense

<figure class="wp-block-image"><img src="https://www.noblelinx.com/images/channelchek/research-teaser-header.jpg" alt=""/></figure>



 Friday, January 02, 2026



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Leadership Transition.&nbsp;Twin Hospitality announced Andy Wiederhorn has been named Chief Executive Officer of the Company and Roger Gondek has been named President of Twin Peaks, replacing former CEO and President Kim Boerema. While somewhat surprising, as Mr. Boerema was appointed CEO just this past May, the new leadership simplifies the leadership structure and optimizes resources while minimizing overhead, without any significant change in ability, in our view.



Roger Gondek.&nbsp;We believe the elevation of Mr. Gondek to&nbsp;President of Twin Peaks Restaurant to be the headline. Already serving as Chief Operating Officer of Twin Peaks since 2017, Mr. Gondek&nbsp;brings approximately 15 years of experience with the brand, including previous operations leadership roles with Twin Peaks’ largest franchisee.&nbsp;Mr. Gondek was the Executive Vice President of Operations of La Cima Restaurants, LLC, a franchiser of 43 Twin Peaks restaurants in Florida, Alabama, Georgia, South Carolina, North Carolina, and Tennessee, from June 2011 to July 2017. Prior to La Cima Restaurants, Mr. Gondek was a Divisional Vice President at Hooters of America from October 2001 to February 2011. Mr. Gondek has a deep understanding of Twin Peaks markets, in our opinion.



<h2 class="wp-block-heading"> <a href="https://www.channelchek.com/research-reports/27969">Get the Full Report</a></h2>



Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, January 02, 2026



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Leadership Transition.&nbsp;Twin Hospitality announced Andy Wiederhorn has been named Chief Executive Officer of the Company and Roger Gondek has been named President of Twin Peaks, replacing former CEO and President Kim Boerema. While somewhat surprising, as Mr. Boerema was appointed CEO just this past May, the new leadership simplifies the leadership structure and optimizes resources while minimizing overhead, without any significant change in ability, in our view.



Roger Gondek.&nbsp;We believe the elevation of Mr. Gondek to&nbsp;President of Twin Peaks Restaurant to be the headline. Already serving as Chief Operating Officer of Twin Peaks since 2017, Mr. Gondek&nbsp;brings approximately 15 years of experience with the brand, including previous operations leadership roles with Twin Peaks’ largest franchisee.&nbsp;Mr. Gondek was the Executive Vice President of Operations of La Cima Restaurants, LLC, a franchiser of 43 Twin Peaks restaurants in Florida, Alabama, Georgia, South Carolina, North Carolina, and Tennessee, from June 2011 to July 2017. Prior to La Cima Restaurants, Mr. Gondek was a Divisional Vice President at Hooters of America from October 2001 to February 2011. Mr. Gondek has a deep understanding of Twin Peaks markets, in our opinion.



Get the Full Report



Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Twin Hospitality (TWNP) - A Management Change

restaurants

Twin Hospitality

TWNP

<figure class="wp-block-image"><img src="https://www.noblelinx.com/images/channelchek/research-teaser-header.jpg" alt=""/></figure>



 Friday, January 02, 2026



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Milestones.&nbsp;ONE Group announced a number of development milestones achieved during 4Q25. These include: entering into ten restaurant asset-light development agreements; an expanded footprint in large-market, professional sports &amp; entertainment stadiums; opening two new STK locations; launching Benihana-branded retail product; and planning capital-efficient growth for 2026.



Largest Agreement.&nbsp;The ONE Group has entered into its largest asset-light development agreement in the Company’s history, securing development rights for a total of ten restaurants, either Benihana or Benihana Express locations, throughout the Greater San Francisco Bay Area.&nbsp;The two Benihana joint venture locations are expected to open in 2026, with the remaining franchised and licensed locations to open over the next seven years.



<h2 class="wp-block-heading"> <a href="https://www.channelchek.com/research-reports/27968">Get the Full Report</a></h2>



Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, January 02, 2026



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Milestones.&nbsp;ONE Group announced a number of development milestones achieved during 4Q25. These include: entering into ten restaurant asset-light development agreements; an expanded footprint in large-market, professional sports &amp; entertainment stadiums; opening two new STK locations; launching Benihana-branded retail product; and planning capital-efficient growth for 2026.



Largest Agreement.&nbsp;The ONE Group has entered into its largest asset-light development agreement in the Company’s history, securing development rights for a total of ten restaurants, either Benihana or Benihana Express locations, throughout the Greater San Francisco Bay Area.&nbsp;The two Benihana joint venture locations are expected to open in 2026, with the remaining franchised and licensed locations to open over the next seven years.



Get the Full Report



Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

ONE Group Hospitality (STKS) - Development Update

Food &amp; Beverage

ONE Group Hospitality

STKS

Noble Capital Markets Research Morning Call

BYD Co., the Chinese electric vehicle giant, has hit a major milestone, surpassing Tesla Inc. to claim the title of the world’s largest electric vehicle maker in 2025. The achievement comes amid a challenging backdrop for China’s auto market, with heightened domestic competition and shifting government incentives.



The Shenzhen-based company delivered a total of 4.6 million vehicles last year, representing a 7.7% increase from 2024, and meeting the full-year sales target it set in September. Nearly half of these vehicles—2.26 million—were fully electric, with the remainder comprising plug-in hybrid models. In contrast, Tesla’s full-year deliveries are projected to reach approximately 1.66 million vehicles, marking its second consecutive annual decline. The US automaker’s fourth-quarter shipments alone were down 11% from a year earlier.



BYD’s milestone was reflected in market performance, with its Hong Kong-listed shares rising as much as 2.3% on the first trading day of 2026. Despite this growth, the company faces significant pressure in the year ahead. China’s reduction of certain EV purchase incentives and an influx of new domestic models have intensified competition. Geely Automobile Holdings Ltd. and Xiaomi Corp., among others, have launched new vehicles that are capturing consumer attention, making the domestic landscape more challenging.



Chief Executive Officer Wang Chuanfu acknowledged that BYD’s technological lead over competitors has narrowed, affecting domestic sales. However, he expressed confidence in the company’s 120,000-strong engineering team and hinted at upcoming breakthroughs that could help BYD regain an edge.



International markets have emerged as a bright spot for BYD. Overseas deliveries reached 1.05 million units in 2025, surpassing expectations and helping offset domestic softness. The company has set ambitious targets for 2026, aiming to sell between 1.5 million and 1.6 million vehicles outside China. Analysts from Deutsche Bank and Morgan Stanley forecast that new product launches and a refreshed technology platform could further strengthen BYD’s global competitiveness.



Nevertheless, the company faces financial and regulatory hurdles. BYD posted back-to-back quarterly profit declines in 2025 and has been at the center of China’s efforts to curb aggressive EV discounting. This regulatory scrutiny may accelerate consolidation within the industry and reshape the competitive hierarchy.



Tesla, meanwhile, is grappling with its own set of challenges. Production line adjustments for the redesigned Model Y slowed early 2025 deliveries, while the US elimination of federal EV purchase incentives is expected to weigh on demand. Additionally, CEO Elon Musk’s controversial political profile has reportedly deterred some buyers, further complicating the company’s outlook.



Despite these headwinds, BYD appears poised to maintain its lead. Analyst estimates suggest total sales could reach 5.3 million units in 2026, allowing the company to solidify its position as the top global EV maker. With growing overseas momentum, strategic product launches, and continued investment in technology, BYD is not just overtaking Tesla—it is reshaping the global electric vehicle landscape.

BYD Co., the Chinese electric vehicle giant, has hit a major milestone, surpassing Tesla Inc. to claim the title of the world’s largest electric vehicle maker in 2025. The achievement comes amid a challenging backdrop for China’s auto market, with heightened domestic competition and shifting government incentives.



The Shenzhen-based company delivered a total of 4.6 million vehicles last year, representing a 7.7% increase from 2024, and meeting the full-year sales target it set in September. Nearly half of these vehicles—2.26 million—were fully electric, with the remainder comprising plug-in hybrid models. In contrast, Tesla’s full-year deliveries are projected to reach approximately 1.66 million vehicles, marking its second consecutive annual decline. The US automaker’s fourth-quarter shipments alone were down 11% from a year earlier.



BYD’s milestone was reflected in market performance, with its Hong Kong-listed shares rising as much as 2.3% on the first trading day of 2026. Despite this growth, the company faces significant pressure in the year ahead. China’s reduction of certain EV purchase incentives and an influx of new domestic models have intensified competition. Geely Automobile Holdings Ltd. and Xiaomi Corp., among others, have launched new vehicles that are capturing consumer attention, making the domestic landscape more challenging.



Chief Executive Officer Wang Chuanfu acknowledged that BYD’s technological lead over competitors has narrowed, affecting domestic sales. However, he expressed confidence in the company’s 120,000-strong engineering team and hinted at upcoming breakthroughs that could help BYD regain an edge.



International markets have emerged as a bright spot for BYD. Overseas deliveries reached 1.05 million units in 2025, surpassing expectations and helping offset domestic softness. The company has set ambitious targets for 2026, aiming to sell between 1.5 million and 1.6 million vehicles outside China. Analysts from Deutsche Bank and Morgan Stanley forecast that new product launches and a refreshed technology platform could further strengthen BYD’s global competitiveness.



Nevertheless, the company faces financial and regulatory hurdles. BYD posted back-to-back quarterly profit declines in 2025 and has been at the center of China’s efforts to curb aggressive EV discounting. This regulatory scrutiny may accelerate consolidation within the industry and reshape the competitive hierarchy.



Tesla, meanwhile, is grappling with its own set of challenges. Production line adjustments for the redesigned Model Y slowed early 2025 deliveries, while the US elimination of federal EV purchase incentives is expected to weigh on demand. Additionally, CEO Elon Musk’s controversial political profile has reportedly deterred some buyers, further complicating the company’s outlook.



Despite these headwinds, BYD appears poised to maintain its lead. Analyst estimates suggest total sales could reach 5.3 million units in 2026, allowing the company to solidify its position as the top global EV maker. With growing overseas momentum, strategic product launches, and continued investment in technology, BYD is not just overtaking Tesla—it is reshaping the global electric vehicle landscape.

BYD Surpasses Tesla to Become World’s Largest EV Maker

Electric Vehicle

Tesla

Bitcoin is on track to close out the year in negative territory, marking a sharp contrast to the record highs seen earlier in 2025. After months of volatility and a steep pullback from its peak, the world’s largest cryptocurrency has struggled to regain momentum, spending much of December locked in a narrow trading range.



As the year draws to a close, bitcoin has hovered around the mid-to-high $80,000 level, capping a third consecutive month of losses. Year to date, the digital asset is down roughly 5%, weighed down by aggressive liquidations, profit-taking by long-term holders, and fading speculative demand following its dramatic run above $120,000 earlier in the fall.



The recent decline has pushed bitcoin nearly 30% below its October highs, dragging the broader crypto market lower in the process. While multi-month losing streaks are rare for bitcoin, they tend to occur during periods of transition rather than prolonged bear markets.



Despite the weak finish to the year, some analysts see conditions forming for a potential rebound as early as January. Technical indicators tracked by several crypto research firms suggest that bitcoin’s downtrend may be losing strength, setting the stage for a possible shift in momentum at the start of the new year.



One factor that could support prices is portfolio rebalancing. As institutional investors adjust allocations following year-end performance reviews, capital flows back into bitcoin-linked exchange-traded products could provide a short-term lift. Historically, such rebalancing activity has helped spark relief rallies after extended pullbacks.



Still, expectations for a strong breakout remain muted. Many strategists believe the first half of 2026 will likely be characterized by consolidation rather than explosive upside. Analysts point to tighter liquidity conditions, selective institutional demand, and lingering uncertainty around global macroeconomic trends as reasons for caution.



That said, bitcoin’s longer-term outlook remains supported by structural tailwinds. The crypto sector entered 2025 with increased regulatory clarity, growing institutional acceptance, and policy developments that helped legitimize digital assets in traditional finance. While those catalysts fueled last year’s rally, the recent correction has tempered expectations for near-term gains.



Several market observers now anticipate bitcoin trading within a broad range during the first quarter of 2026, with price action potentially fluctuating between the low $80,000s and near $100,000. Rather than a rapid surge, analysts expect renewed accumulation and base-building to define the early months of the year.



Looking further ahead, forecasts for bitcoin’s next major peak vary widely. Some analysts expect a return toward prior highs later in 2026, while others caution that gains may be more modest than previous cycles. What remains clear is that volatility is likely to persist, keeping bitcoin firmly in focus for investors navigating the evolving digital asset landscape.

Bitcoin is on track to close out the year in negative territory, marking a sharp contrast to the record highs seen earlier in 2025. After months of volatility and a steep pullback from its peak, the world’s largest cryptocurrency has struggled to regain momentum, spending much of December locked in a narrow trading range.



As the year draws to a close, bitcoin has hovered around the mid-to-high $80,000 level, capping a third consecutive month of losses. Year to date, the digital asset is down roughly 5%, weighed down by aggressive liquidations, profit-taking by long-term holders, and fading speculative demand following its dramatic run above $120,000 earlier in the fall.



The recent decline has pushed bitcoin nearly 30% below its October highs, dragging the broader crypto market lower in the process. While multi-month losing streaks are rare for bitcoin, they tend to occur during periods of transition rather than prolonged bear markets.



Despite the weak finish to the year, some analysts see conditions forming for a potential rebound as early as January. Technical indicators tracked by several crypto research firms suggest that bitcoin’s downtrend may be losing strength, setting the stage for a possible shift in momentum at the start of the new year.



One factor that could support prices is portfolio rebalancing. As institutional investors adjust allocations following year-end performance reviews, capital flows back into bitcoin-linked exchange-traded products could provide a short-term lift. Historically, such rebalancing activity has helped spark relief rallies after extended pullbacks.



Still, expectations for a strong breakout remain muted. Many strategists believe the first half of 2026 will likely be characterized by consolidation rather than explosive upside. Analysts point to tighter liquidity conditions, selective institutional demand, and lingering uncertainty around global macroeconomic trends as reasons for caution.



That said, bitcoin’s longer-term outlook remains supported by structural tailwinds. The crypto sector entered 2025 with increased regulatory clarity, growing institutional acceptance, and policy developments that helped legitimize digital assets in traditional finance. While those catalysts fueled last year’s rally, the recent correction has tempered expectations for near-term gains.



Several market observers now anticipate bitcoin trading within a broad range during the first quarter of 2026, with price action potentially fluctuating between the low $80,000s and near $100,000. Rather than a rapid surge, analysts expect renewed accumulation and base-building to define the early months of the year.



Looking further ahead, forecasts for bitcoin’s next major peak vary widely. Some analysts expect a return toward prior highs later in 2026, while others caution that gains may be more modest than previous cycles. What remains clear is that volatility is likely to persist, keeping bitcoin firmly in focus for investors navigating the evolving digital asset landscape.

Bitcoin Heads Toward a Negative Year-End, but January Could Bring a Relief Rally

Bitcoin

Crypto

Cryptocurrency

As 2025 comes to a close, the investment landscape has offered a year of contrasts. Mega-cap tech stocks dominated headlines, driven by artificial intelligence and cloud computing, while the small-cap sector faced a challenging environment, weighed down by elevated interest rates, cautious credit markets, and selective investor demand. Yet for those focused on quality small-cap companies, the year also laid the groundwork for potential gains in 2026, particularly in mining, biotech, and technology sectors.



The Russell 2000, a key small-cap benchmark, lagged behind the broader S&amp;P 500 in 2025. Despite underperformance, this divergence has created opportunity. Valuation gaps between small caps and large caps widened, offering investors attractive entry points in companies with strong fundamentals. Small-cap stocks with solid balance sheets and consistent cash flow outperformed peers reliant on speculative growth or cheap capital.



Certain sectors stood out for resilience and growth. Mining and natural resources small caps benefited from ongoing global demand for metals and energy transition materials. Lithium, copper, and critical minerals companies were particularly well-positioned as governments and private companies accelerated clean energy initiatives. These companies not only captured investor interest but also provided a hedge against inflation and volatility in broader equity markets.



The biotech sector saw selective strength as well. Smaller firms focused on innovative therapies, AI-assisted drug discovery, and niche medical devices attracted attention despite macroeconomic headwinds. With continued demand for breakthroughs in personalized medicine, gene therapy, and diagnostic technology, biotech small caps offered a combination of growth potential and sector tailwinds. Investors increasingly favored companies demonstrating revenue traction or near-term product catalysts over speculative pipeline stories.



Technology-focused small caps, including niche AI, cybersecurity, and software-as-a-service providers, also experienced renewed interest. While mega-cap tech firms dominated headlines, small-cap innovators positioned in AI infrastructure, enterprise solutions, and specialized tech services saw capital flow in. These companies benefited from both secular growth trends and attractive valuations relative to large peers, making them a compelling segment for investors looking to balance growth with risk management.



Looking ahead to 2026, the outlook for small-cap equities appears cautiously optimistic. Analysts expect stabilization in interest rates, improving liquidity conditions, and renewed investor rotation from high-valuation mega caps into undervalued small caps. Investors are likely to focus on quality, balance sheet strength, and exposure to durable economic trends, particularly in mining, biotech, and technology. These sectors are well-positioned to capture structural tailwinds, whether from AI adoption, healthcare innovation, or energy transition.



While selectivity will be critical, the combination of lower valuations, sector-specific growth opportunities, and improving market sentiment provides a favorable backdrop for small-cap investors. Those disciplined in stock selection and sector focus may find meaningful upside potential as the market moves into 2026.



In summary, 2025 highlighted the challenges of small-cap investing but also underscored key opportunities. Mining, biotech, and technology sectors emerged as standout areas, offering both resilience and growth potential. As investors enter 2026, the small-cap space remains a fertile ground for disciplined, research-driven investment strategies.

As 2025 comes to a close, the investment landscape has offered a year of contrasts. Mega-cap tech stocks dominated headlines, driven by artificial intelligence and cloud computing, while the small-cap sector faced a challenging environment, weighed down by elevated interest rates, cautious credit markets, and selective investor demand. Yet for those focused on quality small-cap companies, the year also laid the groundwork for potential gains in 2026, particularly in mining, biotech, and technology sectors.



The Russell 2000, a key small-cap benchmark, lagged behind the broader S&amp;P 500 in 2025. Despite underperformance, this divergence has created opportunity. Valuation gaps between small caps and large caps widened, offering investors attractive entry points in companies with strong fundamentals. Small-cap stocks with solid balance sheets and consistent cash flow outperformed peers reliant on speculative growth or cheap capital.



Certain sectors stood out for resilience and growth. Mining and natural resources small caps benefited from ongoing global demand for metals and energy transition materials. Lithium, copper, and critical minerals companies were particularly well-positioned as governments and private companies accelerated clean energy initiatives. These companies not only captured investor interest but also provided a hedge against inflation and volatility in broader equity markets.



The biotech sector saw selective strength as well. Smaller firms focused on innovative therapies, AI-assisted drug discovery, and niche medical devices attracted attention despite macroeconomic headwinds. With continued demand for breakthroughs in personalized medicine, gene therapy, and diagnostic technology, biotech small caps offered a combination of growth potential and sector tailwinds. Investors increasingly favored companies demonstrating revenue traction or near-term product catalysts over speculative pipeline stories.



Technology-focused small caps, including niche AI, cybersecurity, and software-as-a-service providers, also experienced renewed interest. While mega-cap tech firms dominated headlines, small-cap innovators positioned in AI infrastructure, enterprise solutions, and specialized tech services saw capital flow in. These companies benefited from both secular growth trends and attractive valuations relative to large peers, making them a compelling segment for investors looking to balance growth with risk management.



Looking ahead to 2026, the outlook for small-cap equities appears cautiously optimistic. Analysts expect stabilization in interest rates, improving liquidity conditions, and renewed investor rotation from high-valuation mega caps into undervalued small caps. Investors are likely to focus on quality, balance sheet strength, and exposure to durable economic trends, particularly in mining, biotech, and technology. These sectors are well-positioned to capture structural tailwinds, whether from AI adoption, healthcare innovation, or energy transition.



While selectivity will be critical, the combination of lower valuations, sector-specific growth opportunities, and improving market sentiment provides a favorable backdrop for small-cap investors. Those disciplined in stock selection and sector focus may find meaningful upside potential as the market moves into 2026.



In summary, 2025 highlighted the challenges of small-cap investing but also underscored key opportunities. Mining, biotech, and technology sectors emerged as standout areas, offering both resilience and growth potential. As investors enter 2026, the small-cap space remains a fertile ground for disciplined, research-driven investment strategies.

2025 Year-End Wrap: Small-Cap Investors Eye Mining, Biotech, and Tech for 2026 Opportunities

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