Earnings Call Insights: Morgan Stanley Direct Lending Fund (MSDL) Q4 2025 Management View CEO Michael Occi opened the call noting, "We generated solid performance in the fourth quarter. In terms of operating results, we earned net investment income of $0.49 per share as compared with $0.50 per share for the prior quarter." He highlighted confidence in MSDL’s execution and portfolio resilience, mentioning that pressures on portfolio yield are easing and that credit stress has been isolated rather than systemic. Occi addressed sector-specific concerns, stating, “As we have all seen in recent weeks, the market's latest concern has been artificial intelligence as a threat to software. While we recognize that AI will be disruptive, we are confident in our underwriting process that has explicitly taken AI risk into account for a number of years.” On capital allocation and shareholder returns, Occi announced, “The Board declared a distribution of $0.45 per share for the first quarter of 2026, representing a $0.05 reduction from the prior quarter. This adjustment aligns the distribution with the normalization of short-term interest rates and implies a still robust yield on NAV of approximately 9%.” Jeffrey Day, Co-President, emphasized origination strength: “During the quarter, MSDL committed $146 million to new investments the majority of which were for new LBO transactions, underscoring our continued ability to originate and execute on unique well-structured opportunities.” Day detailed risk management, saying, “We have been utilizing a proprietary AI scorecard, which we apply to every new investment and is updated on a quarterly basis as part of our ongoing portfolio review process.” CFO David Pessah reported, “At quarter end, our portfolio totaled $3.8 billion at fair value, maintaining our strong first lien focus comprising of 96% first lien debt, 2% second lien debt and the remainder in equity and other investments.” Outlook Occi described the deal environment as impr...

Photo from the Jeffrey Epstein files released by the U.S. Justice Department showing Bill Clinton and Jeffrey Epstein. Date and context is unclear. U.S. Department of Justice Former President Bill Clinton was set to tell the House Oversight Committee on Friday morning in testimony about Jeffrey Epstein that "I saw nothing and I did nothing wrong" during their times flying together or socializing. "First, I had no idea of the crimes Epstein was committing," Clinton planned to say during his closed-door deposition, which was underway in Chappaqua, New York. "No matter how many photos you show me, I have two things that at the end of the day matter more than your interpretation of those 20-year-old photos. I know what I saw, and more importantly, what I didn't see," Clinton said to say. "I know what I did, and more importantly, what I didn't do," he planned to say. "I saw nothing, and I did nothing wrong." "As someone who grew up in a home with domestic abuse, not only would I not have flown on his plane if I had any inkling of what he was doing — I would have turned him in myself and led the call for justice for his crimes, not sweetheart deals," Clinton planned to say. "But even with 20/20 hindsight, I saw nothing that ever gave me pause." Read more about the Jeffrey Epstein files List: High-profile people burned by past dealings exposed in the Epstein files World Economic Forum CEO quits after Epstein ties scrutinized Larry Summers to resign as Harvard professor as Epstein fallout continues DOJ withheld Epstein files about claim Trump sexually abused minor: MS NOW Former prince Andrew released by police, Trump calls his arrest 'a shame' Clinton also blasted the committee for forcing his wife, former Secretary of State Hillary Clinton, to testify about the notorious sex predator Epstein on Thursday. The committee issued subpoenas to both Clintons demanding their testimony, and threatened to hold them in contempt of Congress if they failed to comply. Hillary Clinton s...

Sources say DeepSeek has prevented Nvidia and AMD from optimising their chips for its new V4 AI model PC Gamer

TG Therapeutics misses Q4 earnings estimates, but total revenues surge 78% y/y on strong Briumvi sales. The company reaffirms its 2026 revenue outlook.

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In the long run, the value of a company relies on its ability to make money. However, there are different pathways to profitability for young businesses. Historically, many businesses concentrated on becoming profitable as quickly as possible, even if it meant choosing not to make certain investments that would result in faster growth. This more disciplined approach to capital allocation ensured that shareholders got a short-term reward for their investment, but sometimes at the cost of giving up long-term opportunities. Amazon (NASDAQ: AMZN) was one of the first companies to change that long-held paradigm. Rather than emphasizing short-term profits, the e-commerce giant instead didn't hesitate to spend money toward the long-term goal of maximizing market share. And as you'll see in this second article in my three-part series on Amazon for the Voyager Portfolio , the resulting shift transformed the way that countless companies pitch their value propositions to shareholders. Image source: Amazon. Continue reading

3alexd/iStock via Getty Images Shares of Aspen Aerogels ( ASPN ) have fallen to fresh lows after the outlook for the industrial and EV insulation manufacturer remains dismal, following a huge boom-bust cycle in the past. With revenues having completely imploded now, the situation is dire, but there are some positive factors and expectations as well, although the situation remains highly speculative. A lack of execution and past disappointments make it difficult to build conviction, although the company still has time to (partially) recover from this. Some Perspective Aspen Aerogels started its corporate history as a provider of industrial insulation activities, this being a $100 million but lossmaking business when the company went public a little over a decade ago. Understanding what happened to the business is key, as multiple boom-bust cycles and strategic pivots explain why the company finds itself where it sits today. After the company failed to generate sufficient revenues to achieve profitability, the company decided to reposition its business to provide solutions for EV batteries. This made it so that a share price of just a dollar ended up rising to a high of $60 in 2021, followed by a pullback to the low single digits in 2023. This was followed by a recovery to the $30 mark in 2024, with shares now back down again at just about $3. These developments came as the company saw strong growth coming out of the pandemic. Revenues rose nearly 50% to $180 million in 2022 as growth slowed to 30% in 2023, yet growth accelerated to triple digits in 2024, which made the production capacity limits of $650 million come within sight. To facilitate further and continued growth, the company was looking to build a huge new plant, at a nearly $2 billion bill, aided by the help of the DOE and external financiers. All this was driven by a strong 2024, with revenues reported up 90% to $453 million, accompanied by an operating profit of $53 million. A Big Implosion After the com...

国际铜夜盘收涨0.31%，沪铜收涨0.45%，沪铝收涨0.11%，沪锌收跌0.53%，沪铅收跌0.12%，沪镍收跌0.51%，沪锡收涨5.65%。氧化铝夜盘收跌0.40%，铝合金收涨0.31%。不锈钢夜盘收涨0.28%。

Former president tells House oversight committee he is cooperating in the Epstein investigation out of love of country and desire for victims to heal Sign up for the Breaking News US email to get newsletter alerts direct to your inbox James Comer, the chair of the House oversight committee, said the committee’s list of questions for Bill Clinton grew longer after Hillary Clinton’s deposition yesterday, where she deferred a host of questions to her husband. “So we already had a big portfolio of questions for him, and that increased yesterday,” Comer said at a press conference outside the building where the closed-door deposition was set to begin shortly. Continue reading...

北京时间2月28日凌晨，美股周五午盘维持下跌趋势。英伟达公布财报后，其股价连续第二个交易日下跌。知名软件股普跌。最新生产者价格指数数据远超预期，显示美国通胀仍具粘性，加重了引发市场动荡的担忧情绪。 瑞银 下调美国股票市场评级。 道指跌579.56点，跌幅为1.17%，报48919.64点；纳指跌187.32点，跌幅为0.82%，报22691.06点；标普500指数跌39.24点，跌幅为0.57%，报6869.62点。 随着科技股下跌和通胀数据高企给市场带来压力，标普500指数重新跌破其备受关注的50日移动均线这一技术指标。该基准指数也跌破斐波那契回撤位6850.62点。收盘若低于这些水平，可能会进一步给市场带来压力。 瑞银下调美国股票市场评级 瑞银全球股票策略主管Andrew Garthwaite将一个已满仓的全球股票投资组合中的美国股票评级下调至“基准”，理由是美元走弱、估值过高以及华盛顿政策动荡带来的风险不断上升。 加思韦特写道，美元风险是核心关切。瑞银预计，到第一季度末，欧元将攀升至1欧元兑1.22美元，并认为美元面临“不对称的结构性下行风险”。该银行表示，从历史来看，当美元贸易加权指数下跌10%时，按非对冲基础计算，美国股市的表现大约会落后4%。 今年，由于美元走弱和估值更低吸引资本流向海外，外国市场的表现远超美国。MSCI世界不含美国指数在2026年内上涨了约8%，而标普500指数的表现几乎持平。 周五经济数据面，美国劳工统计局周五报告称，1月份美国批发价格指数以快于预期的速度上涨，这给通胀正在缓解的希望泼了冷水。 更令人担忧的是剔除食品和能源价格的核心PPI指数。 剔除波动较大的食品和能源价格后，核心生产者价格指数（PPI）经季节性调整后环比上涨0.8%，高于12月份0.6%的涨幅，也远超 道琼斯 普遍预测的0.3%的涨幅。 包含所有项目的整体PPI环比上涨0.5%，同样高于0.3%的预测值，且比前一个月高出0.1个百分点。 从全年来看，核心批发价格同比上涨3.6%，整体指数同比上涨2.9%。这两个数字都远高于美联储2%的通胀目标，表明物价上涨仍是美国经济面临的一个不利因素。 科技股周五再次承压，延续本月的疲软走势，英伟达在公布财报后继续下滑。 前一个交易日，英伟达收盘下跌超过5%，令许多投资者感到意外。 鉴于这家芯片制造商第四季度业绩强劲且即将迎来产品...

Perrigo misses Q4 EPS estimates. Its 2026 sales and profit estimates are below expectations as Infant Formula headwinds persist. Shares slide on weak guidance.

格隆汇2月28日｜斯洛伐克总理菲佐：乌克兰总统已拒绝管道的检查活动。

Warner Bros. Discovery got too expensive for Netflix.

Welcome to Bay Street Edition, our weekly newsletter devoted to what’s happening in Canadian finance, covering strategy, deals, people moves and economics. I’m Christine Dobby , Bloomberg’s Toronto-based banking reporter, and you’ll find me in your inbox every Friday. This week, we’re talking about Canadian bank earnings, what the Apotex IPO could mean for the country’s capital markets and Jimmy Pattison’s apparent successor — an accountant five decades younger than him. Plus: solve a murder over cocktails on your next vacation. Please share this newsletter with your friends and colleagues, and if it was forwarded to you, sign up here to receive it every week. Good Quarter, Guys ROE is the new PCL. I made this “joke” on BNN Bloomberg Television last week and it sure held up this week as Canada’s big banks reported fiscal first-quarter results. Here’s what I meant. Return on equity (ROE) ratios took center stage as they all reported earnings that beat analyst estimates, with revenue growth coming from most of the banks’ operating businesses. Instead of provisions for credit losses (PCLs) — the money banks set aside for loans that might go bad — the focus has turned to how much profit the lenders can generate for every dollar of shareholder capital. And it was a good quarter for that. Elevated market activity continues to fuel trading desks, and asset appreciation is juicing fee revenue in their wealth management businesses. Loan growth may be slow, but domestic retail banking looks solid. Expense control has also been a theme — Bank of Montreal and Toronto-Dominion Bank each recorded about C$200 million ($146 million) in restructuring charges in the quarter, setting them up for improved returns ahead. Both lenders’ US divisions, which have faced profitability challenges, are making progress and appear poised to deliver better results. The Big Six have all done sizable stock buybacks and their ROE figures all climbed in the first quarter. In several cases, they’re ahe...

格隆汇2月28日｜印度总理莫迪：到2047年建成发达印度的目标并非政治口号，而是纠正国大党历史性错误的决心。

The Pentagon is poised to take unprecedented steps in its standoff with Anthropic PBC that risk touching off a massive legal fight with the $380 billion company and threaten to undermine Pentagon efforts to further adopt artificial intelligence. At the center of the escalating dispute is a 76-year-old law called the Defense Production Act, passed in 1950 to boost production for the Korean War. Defense Secretary Pete Hegseth has threatened to invoke the legitigation as a way of forcing Anthropic to give up guardrails it’s set around the way its Claude AI system can be used. People familiar with the matter said earlier this week that Hegseth made the threat in a contentious meeting with Anthropic Chief Executive Officer Dario Amodei . That warning — along with the threat to designate Anthropic what’s known as a supply-chain risk — raises a host of legal questions. Any such moves would almost certainly be challenged in court. The Defense Production Act was meant to make sure the government has critical resources at its disposal in the event of an emergency. President Donald Trump used it during the Covid-19 pandemic to manage distribution of protective equipment. President Joe Biden invoked it to address a shortage in baby formula. Deploying the act to strong-arm a tech startup into accepting Pentagon demands on how its software is used would be new territory. Declaring Anthropic a supply-chain risk could put limits on how other defense contractors use its services. That’s normally a designation reserved for state-backed actors in China or Russia. “It is unclear how they intend to use DPA, we don’t know which DPA authorities they will use, and we also don’t know whether this is a one-off or the first of its kind,” according to Bloomberg Economics analyst Becca Wasser . “This is akin to the uncertainty that was generated around the administration taking stakes in private companies using DPA authorities,” she said. Read More: Anthropic’s Pentagon Showdown Is About More T...

The Detroit auto stock's biggest bulls hope the next decade will be better than the last.

A council in Gywnedd, north Wales, wants a housing estate to be reserved for Welsh speakers only.

In trading on Friday, shares of Amphastar Pharmaceuticals Inc (Symbol: AMPH) crossed below their 200 day moving average of $25.98, changing hands as low as $21.82 per share. Amphastar Pharmaceuticals Inc shares are currently trading off about 14.9% on the day. The chart below

Image source: The Motley Fool. Friday, February 27, 2026 at 11:00 a.m. ET Need a quote from a Motley Fool analyst? Email pr@fool.com Continue reading

格隆汇2月28日｜联合健康(UNH.N)将2026年员工涨薪幅度限制在0%-2%。

Countdown to May has begun and dejected Labour MPs want to see in that time PM is capable of change UK politics live – latest updates When Labour’s Scottish leader, Anas Sarwar, urged Keir Starmer to stand down two weeks ago, the prime minister’s closest advisers presented him with a choice: fight, flight or hand over his destiny to his party by calling a leadership contest. The prime minister chose the first option and his Downing Street team sprung into action to contain the threat. At the moment of greatest peril for Starmer, MPs peered over the precipice and didn’t like what they saw. Continue reading...

SanDisk vs. Micron: Which AI Memory Stock Offers More Upside? The Globe and Mail

格隆汇2月28日｜根据民意测验和商业调查咨询公司盖洛普公司进行的一项民调，自2001年以来，美国人对巴勒斯坦人的支持率首次超过对以色列人的支持率。民调结果显示，在2026年，同情巴勒斯坦人（41%）的美国人比同情以色列人的（36%）更多，这是自2001年开始此项调查以来首次录得这样的数字。另有4%的受访者表示他们同情冲突双方，9%表示不同情任何一方，10%对此问题没有看法。值得注意的是，对巴勒斯坦人的支持率上升趋势始于2019年。此外，根据民调，57%的美国人支持建立一个独立的巴勒斯坦国。

Rachata Amnataree/iStock via Getty Images Subadvisor (since 12/14/2001): EARNEST Partners LLC Portfolio Manager(s): Paul E. Viera Benchmark 1 Name: Russell 2000® Value Index Investment Philosophy: The Harbor Small Cap Value Fund ( HASCX ) invests mainly in equity securities—common and preferred stocks—of small-cap companies, focusing on undervalued securities relative to intrinsic value. The Fund applies fundamental and qualitative criteria to identify companies for the portfolio, and maintains relationships with key analysts and industry experts to obtain unbiased research perspectives. Performance Average Annual Returns Share Class Ticker CUSIP 3 Months YTD 1 Yr. 3 Yr. 5 Yr. 10 Yr. Since Inception Inception Date Net Expense Ratio % Gross Expense Ratio % Institutional HASCX 411511843 2.28% 3.75% 3.75% 9.81% 6.56% 9.72% 9.67% 12/14/01 0.88 0.88 Investor HISVX 411511694 2.18% 3.40% 3.40% 9.42% 6.17% 9.33% 9.66% 11/01/02 1.23 1.23 Retirement HNVRX 411512452 2.29% 3.83% 3.83% 9.90% 6.64% 9.81% 9.70% 03/01/16 0.80 0.80 Russell 2000® Value Index 3.26% 12.59% 12.59% 11.73% 8.88% 9.27% 8.52% 12/14/01 Click to enlarge Manager Commentary “Recent market volatility has created opportunities to invest in high-quality businesses trading below intrinsic value, particularly where short-term uncertainty has overshadowed durable earnings power.” EARNEST Partners LLC Market in Review The U.S. Small Cap equity market, as represented by the Russell 2000 Value® Index, returned 3.26% in the fourth quarter of 2025, capping off a third consecutive year of gains. While earlier parts of the year were marked by a surge in speculative enthusiasm, particularly across innovation-driven industries, the final quarter signaled a measured shift in investor priorities, with performance increasingly favoring companies demonstrating improving fundamentals and earnings visibility. Technology, which was one of the Index’s top-performing sectors for much of the year, reversed course and contracted nearly ...

Advanced Micro Devices (AMD) just carved itself a real seat at the table in artificial intelligence. Shares jumped more than 9% before the February 24th market open after Meta Platforms agreed to source massive volumes of AI chips from the chipmaker in a multi-year deal. For investors, this was not ...

AMD stock surges after Meta agrees to giant $100B AI chip deal Yahoo Finance

In trading on Friday, the VanEck Rare Earth/Strategic Metals ETF is outperforming other ETFs, up about 2% on the day. Components of that ETF showing particular strength include shares of Tronox Holdings, up about 3.7% and shares of Iperionx, up about 1.4% on the day. And under

Grupo Bimbo press release ( GRBMF ): Q4 Revenue of Ps 108M. Capex investments reached Ps.1.2 billion More on Grupo Bimbo, S.A.B. de C.V. Grupo Bimbo, S.A.B. de C.V. 2025 Q4 - Results - Earnings Call Presentation Seeking Alpha’s Quant Rating on Grupo Bimbo, S.A.B. de C.V. Historical earnings data for Grupo Bimbo, S.A.B. de C.V. Dividend scorecard for Grupo Bimbo, S.A.B. de C.V. Financial information for Grupo Bimbo, S.A.B. de C.V.

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which me