TCPC News & Events

Reports Q4 NAV per share $7.07. The company said, "In the fourth quarter, issuer-specific developments drove a 19% decline in NAV, with six portfolio companies accounting for roughly two-thirds of the decrease. Viewed more broadly, approximately 91% of the NAV reduction was tied to investments that were underwritten in 2021 or earlier. Certain of these businesses benefited from high levels of pandemic-era demand but have since seen results soften. In addition, because these investments were originated in a low base-rate environment, several have struggled to adapt to a period of sustained higher interest rates."

The major averages closed broadly higher as traders brace for another week of corporate earnings reports, including from big names Microsoft, Apple, and Tesla, as well as the latest Federal Reserve interest rate decision slated for later this week.Investors are also monitoring even more tariff news, as President Trump over the weekend threatened 100% tariffs on all Canadian goods and products if the country reaches a trade agreement with China. However, Prime Minister Mark Carney said that Canada has "no intention" of pursuing such a trade deal. Additionally, rising tensions in Minnesota remain in focus following another fatal shooting of a U.S. citizen by an ICE officer over the weekend. Amid all the news coming out of the state, a group of more than 60 CEOs of Minnesota-based companies called for an "immediate de-escalation of tensions."Looking to commodities, gold continues to soar to record highs, surpassing the $5,000 mark for the first time.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:A group of more than 60 CEOs of Minnesota-based companies, including 3M, Target, UnitedHealth, and Best Buy, called for anin the stateNvidiaisin CoreWeaveUSA Rare Earthentered into a non-binding Letter of Intent with the U.S. government forMerckis no longer in talks to acquire Revolution Medicines,IonQSkyWater Technologyfor $35 per share in cash and stock2. WALL STREET CALLS:Meta Platformsto Buy at Rothschild & Co RedburnCiscoto Outperform at Evercore ISIBTIGof Fannie Maeand Freddie Macwith Buy ratings and $20 price targetsVaronisto Equal Weight from Overweight at Morgan StanleyPiperIO Biotech, sees no assurance strategic alternatives process will pan out favorably3. AROUND THE WEB:Oil majors that operate the Karachaganak field in Kazakhstan, including Eniand Shelllost an international arbitration case, leaving them liable to pay as much as $4B, Bloomberg reportsNikeis looking into a potential data breach, Reuters saysA foreign investment fund is in advanced talks to acquire Israeli medical aesthetics firm InModefor about $1.1B, or a 25% premium to its $882M valuation, which would result in the company being delisted, Calcalist reportsGooglehas acquired Common Sense Machines, which offers AI models that create 3D assets from 2D images, The Information saysMeta'sdecision to deprioritize VR in favor of AI and internet-connected glasses has chilled the VR industry, leading to concerns about its future, CNBC reports4. MOVERS:Land's Endhigher after announcing an agreement with WHP Global toTronoxincreases after providing Q4 guidance and announcing theSareptagains after reporting topline three-yearSatellogicfalls after pricing 7.4M shares at $4.73 inBlackRock TCP Capitallower after5. EARNINGS/GUIDANCESteel Dynamics, with EPS beating consensusBank of Hawaii, with CEO Peter Ho commenting, "Bank of Hawai'i completed 2025 with strong financial performance"Velocity Financialprovidedand FY25Trade Deskreaffirmed itsLakeland Financial, with CEO David Findlay commenting, "The Lake City Bank team produced a very strong fourth quarter with exceptional performance metrics"INDEXES:The Dow rose 313.69, or 0.64%, to 49,412.40, the Nasdaq gained 100.11, or 0.43%, to 23,601.36, and the S&P 500 advanced 34.62, or 0.50%, to 6,950.23.

The major averages were broadly higher near noon following last week's losses. Traders are bracing for another week of corporate earnings reports, including from big names Microsoft, Apple, and Tesla, as well as the latest Federal Reserve interest rate decision slated for later this week.Meanwhile, investors are also monitoring even more tariff news, as President Trump over the weekend threatened 100% tariffs on all Canadian goods and products if the country reaches a trade agreement with China, though Prime Minister Mark Carney said that Canada has "no intention" of pursuing such a trade deal. Additionally, rising tensions in Minnesota remain in focus following another fatal shooting of a U.S. citizen by an ICE officer over the weekend. Amid all the news coming out of the state, a group of more than 60 CEOs of Minnesota-based companies called for an "immediate deescalation of tensions."Looking to commodities, gold continues to soar to record highs, surpassing the $5,000 mark for the first time. Oil prices were lower near noon, meanwhile, as traders await more news coming out of Venezuela.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:A group of more than 60 CEOs of Minnesota-based companies, including 3M, Target, UnitedHealth, and Best Buy, called for anin the stateNvidiaisin CoreWeaveUSA Rare Earthentered into a non-binding Letter of Intent with the U.S. government forMerckis no longer in talks to acquire Revolution Medicines,IonQSkyWater Technologyfor $35 per share in cash and stock2. WALL STREET CALLS:Meta Platformsto Buy at Rothschild & Co RedburnCiscoto Outperform at Evercore ISIBTIGof Fannie Maeand Freddie Macwith Buy ratings and $20 price targetsVaronisto Equal Weight from Overweight at Morgan StanleyPiperIO Biotech, sees no assurance strategic alternatives process will pan out favorably3. AROUND THE WEB:A foreign investment fund is in advanced talks to acquire Israeli medical aesthetics firm InModefor about $1.1B, or a 25% premium to its $882M valuation, which would result in the company being delisted, Calcalist reportsGooglehas acquired Common Sense Machines, which offers AI models that create 3D assets from 2D images, The Information saysMeta'sdecision to deprioritize VR in favor of AI and internet-connected glasses has chilled the VR industry, leading to concerns about its future, CNBC reportsSome LVMHshareholders are looking for clarity on how and to whom CEO Bernard Arnault plans to hand over leadership of the company, Reuters saysSnowcap Research is short Patria Investmentsas its investigation suggests the company may be overstating performance and concealing losses within its flagship private equity and infrastructure funds4. MOVERS:Land's Endhigher after announcing anto form a new joint ventureTronoxincreases afterand announcing the closure of its pigment plant in ChinaSareptagains after reporting topline three-yearSatellogicfalls after pricing 7.4M shares at $4.73 inBlackRock TCP Capitallower after5. EARNINGS/GUIDANCESteel Dynamics, with EPS beating consensusBank of Hawaii, with CEO Peter Ho commenting, "Bank of Hawai'i completed 2025 with strong financial performance"Velocity Financialfor Q4 and FY25Trade Deskfor Q4Lakeland Financial, with CEO David Findlay commenting, "The Lake City Bank team produced a very strong fourth quarter with exceptional performance metrics"INDEXES:Near midday, the Dow was up 0.32%, or 155.73, to 49,254.44, the Nasdaq was up 0.67%, or 157.46, to 23,658.71, and the S&P 500 was up 0.56%, or 38.67, to 6,954.28.

Stock futures are modestly lower reflecting a cautious response to renewed geopolitical and macroeconomic uncertainty after the volatility of the past week and before a key Federal Reserve meeting later this week. Markets look set to open mixed to slightly softer as traders navigate a heavy news and event calendar. Investors are bracing for a busy slate of major tech earnings from companies such as Microsoft, Meta, Apple and Tesla, prompting selective positioning ahead of potentially market-moving reports.One of the biggest themes shaping markets is the surge in precious metals as safe-haven demand has risen, with gold topping $5,000 an ounce for the first time and silver hitting new records as traders hedge against uncertainty. The dollar has weakened against major currencies, including the Japanese yen, amid speculation of currency intervention and broader risk rebalancing, which further supports commodities and metals.In pre-market trading, S&P 500 fell 0.08%, Nasdaq futures fell 0.28% and Dow futures fell 0.02%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -USA Rare Earthup 21% after announcing its entry into a non-binding $1.6B letter of intent with the U.S. Department of Commerce and a collaboration with the U.S. Department of EnergySareptaup 2% after reporting topline three-year results from Part 1-treated patients in EMBARK, the placebo-controlled Phase 3 study evaluating Elevidys in ambulatory individuals with Duchenne muscular dystrophy who were aged four to seven at time of treatmentAllied Gold Corporationup 3% after announcing that it has entered into a definitive agreement, pursuant to which Zijin Gold International has agreed to acquire all of the issued and outstanding shares of Allied Gold at a price of C$44 per share in cashMannKindup 3% after reporting that the FDA has approved an update to the prescribing information for Afrezza inhalation powder, revising recommendations for the starting mealtime dosage when patients switch from subcutaneous mealtime insulin regimensSkyWater Technologyand IonQup 8% and 2%, respectively, after the companies announced they have entered into a definitive agreement pursuant to which IonQ will acquire SkyWater for $35.00 per share in a cash-and-stock transactionCoreWeaveup 8% after Nvidiainvested $2B in CoreWeave Class A common stock at a purchase price of $87.20 per shareLOWER -Revolution Medicinesdown 20% after The Wall Street JournalMerckis no longer in discussions to acquire the companyBlackRock TCP Capitaldown 16% after reporting preliminary Q4 resultsEnphase Energydown 3% after notifying employees the company will be reducing headcount and moving certain functions to cost-efficient regions, affecting less than 6% of its workforce