Farmers & Merchants Bancorp (FMCB) Authorizes $45 Million Increase to Share Repurchase Program LODI, Calif., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), announced that, effective immediately, the Company has authorized an increase of $45.0 million to the existing share repurchase program along with an extension of the program through December 31, 2027. The increase will bring the total of the share repurchase program to $57.6 million. ...
Following 2Q results, momentum seems most favorable for the companies below:META (Outperform) - While sentiment was already elevated ahead of the print, 2Q results were strong and guidance for 3Q was encouraging, with expectations for revenue growth ahead of initial St. estimates by ~700bps. Additi
Farmers & Merchants Bancorp (FMCB) Announces Quarterly Cash Dividend LODI, Calif., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Farmers & Merchants Bancorp (OTCQX: FMCB) (the “Company” or “FMCB”), the parent company of Farmers & Merchants Bank of Central California (the “Bank” or “F&M Bank”), announced today that the Company is changing its dividend policy related to the frequency of cash dividend payments from semi-annually to quarterly. The unanimous decision to change the frequency of the cash dividend was done after the Board of Directors completed a thorough analysis of the Company’s overall fi...
TSMC: Exiting 6" manufacturing and consolidating 8" linesView: This statement from TSMC in our view both 1) highlights the difficult economics of mature manufacturing in areas where China is more effectively competing with Western supply while at the same time 2) potentially creates some opportunit
Trump, Lip-Bu Tan: Calls Lip-Bu Tan rise to success "amazing story"; soap opera continuesView: President Trump said he met with Intel CEO Lip-Bu Tan on Monday, days after seeking his resignation, praising Tan and characterizing the meeting "a very interesting one". While an amicable resolution and
Finally, we would note, conceptually, we view this decision by the US government to levy a charge for certain foreign companies to procure US technology as worrisome, given it opens the door for the US to selectively tax a variety of companies/products that enjoy technology leadership positions. Bl
While the latest update from the Trump administration now points to 50% total tariffs (up from 25% initially), we still expect negotiations between the two countries will continue to unfold over the coming days and weeks, and we would not exclude the possibility a trade deal (containing lower tarif
FMS: August 5th-7th in San JoseView: The Future of Memory and Storage Conference (formerly the Flash Memory Summit) takes place in Santa Clara Aug 5th - 7th. We will be hosting in person investor meetings (centered around a full day of meetings on the 6th) both at FMS and at company HQs close to th
With a healthy debate going on regarding forward supply/demand fundamentals for memory (and with Samsung's commentary unlikely to shift opinions on this front in our view), we believe investor focus likely gravitates towards Samsung's pessimistic comments on downward pressure on HBM pricing. And wh
In this first take following tonight’s results, we focus on: 1. With ad revenue growth holding ~20%, more investment in core AI vision makes sense 2. Under the hood ad improvements still under appreciated by the Street 3. Capex spending growing to ~$100B in 2026 4. Superintelligence Labs and the operating expense outlook
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