The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company whose primary investment objective is long-term growth of capital. Contributors to Fund performance included Sony Group (4.0%, +13%), which gained on strong results in gaming and music. Detractors included BellRing Brands (0.2%, -37%), whose shares again fell on investor concerns about increasing competition and slowing growth in the protein shake category.
AMC Networks, which is continuing to navigate the transition from linear TV to streaming, is shedding about 5% of its global workforce of 1,800 employees via voluntary buyouts. CEO Kristin Dolan announced the reduction Friday during the company's third-quarter earnings call with Wall Street analysts.
Global Net Lease, Inc. ( GNL ) Q3 2025 Earnings Call November 6, 2025 11:00 AM EST Company Participants Jordyn Schoenfeld Edward Weil - President, CEO & Director Christopher Masterson - CFO, Treasurer & Secretary Conference Call Participants Upal Rana - KeyBanc Capital Markets Inc., Research Division Mitch Germain - Citizens JMP Securities, LLC, Research Division John Kim - BMO Capital Markets Equity Research Presentation Operator Good afternoon, and welcome to Global Net Lease, Inc.'s Third Quarter 2025 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.
Investors need to pay close attention to Carrier Global stock based on the movements in the options market lately.
AEO's regains denim momentum as viral campaigns and celebrity collaborations fuel record engagement and strong sales growth.
Global Payments has reportedly begun marketing a $6.2 billion bond sale to support its acquisition of Worldpay. The company is marketing the bond sale in as many as four parts ranging from three to 10 years, and it is discussing a price on the 10-year note at a premium of about 1.
Logistics companies are the canaries in the coal mine when it comes to economic disruption and a slowdown in global commerce.
Ralph Lauren raised its full-year outlook as it recorded double-digit revenue growth across all of its geographic segments.
Ericsson shows expanding margins and stable cash generation despite flat revenue, confirming a structural shift toward profitability and operational discipline in a normalized telecom investment cycle. The company's strong balance sheet, SEK 52B net cash, and 3% dividend yield provide resilience and shareholder support through the 5G capex slowdown. Valuation remains appealing at 7.0× EV/EBITDA and 12.5× P/E FWD, far below sector averages, reflecting a disconnect between market perception and operational reality.
During the quarter, we initiated new positions in Spotify, L3Harris Technologies and Insmed. We also added to 3i Group, West Pharmaceutical and Amazon during the quarter. We ended our investment campaigns in Atlassian, Adidas and Vertex Pharmaceuticals during the quarter.
Janus Henderson Global Life Sciences Fund returned 8.26% and the MSCI World Health Care Index returned 3.01%. Looking at individual holdings, Argenx was a top contributor for the quarter. Shares of Lantheus Holdings declined after the radiopharmaceutical company's second-quarter earnings results and guidance fell short of expectations.
Global Net Lease (GNL) came out with quarterly funds from operations (FFO) of $0.24 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to FFO of $0.32 per share a year ago.