Spencer Platt/Getty Images News Exxon ( XOM ) executives recently cautioned investors that global oil ( CL1:COM ) ( CO1:COM ) markets have not yet experienced the full effects of the Strait of Hormuz closure, suggesting prices could climb further as commercial inventories reach minimum operating levels. During the company’s earnings call last week, management explained that several factors have temporarily cushioned the market from the unprecedented supply disruption. Oil in transit, strategic petroleum reserve releases and commercial inventory drawdowns have all helped mitigate immediate impacts through March and April. “So I think it’s obvious to most that if you look at the unprecedented disruption and the world’s supply of oil and natural gas, the market hasn’t seen the full impact of that yet,” Exxon Chairman, President and CEO Darren Woods had said. However, as commercial stockpiles approach minimum working levels, one key buffer against supply constraints will disappear. The company anticipates continued price increases as long as the strait remains closed. Traders on prediction marketplace Kalshi see a 52% chance traffic returns to normal by September 1. Odds that occurs by August 1 stand at around 44%. Even when shipping lanes reopen, Exxon ( XOM ) expects a prolonged adjustment period. The company projects a one-to-two-month lag between the strait reopening and normal market flow resuming as ships reposition and work through backlogs. Additionally, depleted strategic reserves and commercial inventories will need replenishment, creating additional demand that could sustain upward price pressure. Perhaps most significantly, Exxon ( XOM ) anticipates the crisis will reshape global energy security thinking. Countries without strategic petroleum reserves may establish them, potentially bringing sustained additional demand into the marketplace as nations reassess their energy vulnerability and seek protection against future disruptions. The United Arab Emirates ...

Tesla Semi Photo courtesy Tesla Backed by Port of Oakland partnership, WattEV deploys transport industry’s most cost-effective electric-freight program as foundation for nationwide expansion LAS VEGAS, May 05, 2026 (GLOBE NEWSWIRE) -- WattEV, the nation’s leading provider of electric freight operations, today announced an award for 370 Tesla Semi Class 8 electric trucks, the largest single electric truck deployment in California. Delivery of the first 50 units is scheduled to start in 2026, with

The highs in the stock market have sparked both elation and concern. Although investors love to see their investments growing in value, indicators like the Shiller P/E ratio are flirting with all-time highs. This sparks concerns that the market is gearing up for a bear market or possibly even a crash. Ultimately, we do not know whether a market crash is coming, but should one occur, this consumer staples stock is likely to keep you safer than most. Image source: Getty Images. Continue reading

Google ( GOOG ) ( GOOGL ) is building an OpenClaw competitor codenamed "Remy," Business Insider reported. The artificial intelligence agent is being tested by employees at the tech giant and, like OpenClaw, is capable of taking actions on a person's behalf, the news outlet added . It currently runs in an employee-only version of the Gemini app and is capable of being integrated into other Google services, the news outlet added, citing an internal document and two people familiar with the matter. “Remy is your 24/7 personal agent for work, school, and daily life, powered by Gemini,” reads a description for the agent, according to the news outlet. “It elevates the Gemini app into a true assistant that can take actions on your behalf — not just answer questions or generate content.” Google did not immediately respond to a request for comment from Seeking Alpha. The Mountain View, Calif.-based Google is set to host its annual I/O event this month, where it is expected to showcase the latest products and services. Peter Steinberger, the founder of open-source autonomous AI agent OpenClaw, joined OpenAI ( OPENAI ) in February. OpenClaw is a personal assistant that runs locally on a user's machine. It integrates with apps such as WhatsApp and Telegram to automate tasks such as managing calendars and sending emails. The rise of agentic AI apps, such as OpenClaw, has been cited by many in the semiconductor industry, including Intel ( INTC ), and analysts as spurring demand for CPUs. More on Alphabet Alphabet Is Benefiting As AI-Generated Code Increases Alphabet's $460B AI Lock-In Alphabet: The $108.6 Billion Warning That Made Me Bullish Again Google, Microsoft, xAI agree to give US early access to evaluate AI models Google DeepMind workers in UK vote to unionize amid deal with US military: report

Google reportedly building OpenClaw competitor codenamed 'Remy' (GOOG:NASDAQ) Seeking Alpha

Capt Raman Kapoor's ship is one of several to be stranded in the strait in the midst of the power struggle between the US and Iran.

Semiconductor Stocks Surge on AI Demand and Risk-On Wave

AMD, Intel and Micron Lead Chip Stocks Rally on U.S--Iran Ceasefire Optimism TradingView

格隆汇5月6日｜公司高管称，OpenAI向美国政府提前开放了GPT-5.5的访问权限以进行安全测试。

Sandy Kaul, head of innovation at Franklin Templeton and Denelle Dixon, CEO of Stellar Development Foundation, joins Isabelle Lee and Tim Stenovec on "Bloomberg Crypto." The firms recently marked the five year anniversary of the Franklin OnChain US Government Money Fund (Ticker: FOBXX). The suite of tokenized funds recently reached $2 billion in assets. (Source: Bloomberg)

More worrying signs of neglect in America’s nursing homes.

US approves potential sale of joint direct attack munitions to Ukraine Reuters

格隆汇5月6日｜当地时间5月5日，伊朗总统佩泽希齐扬表示，尽管美方承诺对话，但美国在该地区的军事行动升级和威胁仍然存在。美国正在对伊朗采取“极限施压”，伊朗不会受美方政策压迫而接受美方要求。

Italian Prime Minister Giorgia Meloni ⁠said on ⁠Tuesday that fake images ⁠of her generated by artificial intelligence were circulating online, warning that such false photos could deceive the public and target people unable to defend themselves. Meloni said ‌in a statement that several fake photos of her had been created with AI and passed off as real by political opponents. She posted one such image appearing to show her sitting on a bed wearing underwear. ⁠The original post included outraged...

sshepard Abbott ( ABT ) is still on the hook for $95M in compensatory damages and $400M in punitive damages following a ruling by the Missouri Court of Appeals for the Eastern District in a case involving the company's Similac infant formula. Plaintiff Margo Gill alleged that her infant daughter was given Similac while in a hospital neonatal intensive care unit and developed necrotizing enterocolitis (NEC) from it. The child has been suffering from irreversible neurological damage and permanent disabilities, necessitating medical care for the rest of her life. A St. Louis state court jury found in favor of Gill in July 2024. "The jury heard evidence that Infant’s doctors would have altered her treatment if warned about the NEC risk," the appellate court's ruling reads. "Next, Gill testified that she would have intervened if she received a warning. Last, Abbott had ample opportunity to warn Gill through its multiple marketing efforts and social media outreach." Abbott, along with Reckitt Benckiser ( RBGPF )( RBGLY ) division, are facing a mountain of lawsuits from individuals alleging their infant children were sickened from the companies' baby formulas. The suits argue that because the formulas were made with milk from cows with bovine spongiform encephalopathy (BSE), the companies knew or should have known of the risks in using such milk in their products. Infants exposed to BSE are at a higher risk of developing necrotizing enterocolitis, which is characterized by significant intestinal inflammation that can lead to intestinal tissue death and tears in the gut wall, meaning bowel contents enter the abdomen. In the Gill case, Abbott argued that the infant's injuries were caused by birth trauma and oxygen deprivation during delivery. The appellate court ruling also addressed the large damages in the case but also scolded Abbott at the same time. "Arguably, this is a significant, substantial award and Abbott’s due process concern gives us pause. While we recognize an...

Key PointsInvesting in the S&P 500 is one of the easiest ways to grow your money alongside the U.S. economy.

Russia & Ukraine Declare Ceasefires That Will Begin On Different Days Authored by Dave DeCamp via AntiWar.com, Russia said on Monday that it would observe a ceasefire with Ukraine on May 8 and May 9 to observe Victory Day, when Russia celebrates the Soviet Union's victory against Nazi Germany in World War II, but it’s unclear if the truce will hold, as Ukrainian President Volodymyr Zelensky responded by declaring a ceasefire that will start earlier . "As of today, there has been no official appeal to Ukraine regarding the modality of a cessation of hostilities that is being claimed on Russian social media," Zelensky wrote on X. via Associated Press "We believe that human life is far more valuable than any anniversary ‘celebration.’ In this regard, we are announcing a ceasefire regime starting at 00:00 on the night of May 5–6 . In the time left until that moment, it is realistic to ensure that silence takes effect. We will act reciprocally starting from that moment," the Ukrainian leader added. Russia's ceasefire declaration came with a warning that if Ukrainian attacks targeted Moscow during Victory Day celebrations, the Russian military would respond with major attacks on the Ukrainian capital, a response to Zelensky suggesting Ukraine could hit a Russian military parade that will take place in Moscow on May 9. "Should the Kiev regime attempt to implement its criminal plans to disrupt the celebration of the 81st anniversary of Victory in the Great Patriotic War, the Russian Armed Forces will launch a retaliatory, massive missile strike on the center of Kiev," the Russian Defense Ministry said. "Russia, despite its capabilities, has previously refrained from such actions for humanitarian reasons. We warn the civilian population of Kyiv and employees of foreign diplomatic missions of the need to leave the city promptly," the ministry added. On Monday, a Ukrainian drone hit a high-rise apartment building in Moscow . According to Russia’s TASS news agency , 26 Ukrainia...

Thomson Reuters Corp. shares fell despite positive first-quarter results after Anthropic PBC unveiled new artificial intelligence agents designed to handle a broader mix of financial services tasks. Shares had rallied on Tuesday morning following the earnings report, then reversed course to fall as much as 5.1% after the Anthropic announcement dragged down sector peers. They were down 2% to C$127.94 as of 2:21 p.m. in Toronto. Thomson Reuters’ main businesses provide databases, software and other products to legal and accounting professionals. The stock’s volatility over the past few months demonstrates how sensitive investors are to the risks that AI models may eventually hurt sales and margins. Thomson Reuters shares fell the most on record on Feb. 3 after Anthropic announced a productivity tool to help automate legal work for companies. That sparked concerns that Thomson Reuters would lose market share to AI-powered newcomers, and shares closed down nearly 16%. Read More: Anthropic Unveils AI Agents to Field Financial Services Tasks The stock then rebounded when the company’s AI tool for lawyers, CoCounsel, was touted on stage at an Anthropic-hosted briefing during which Chief Executive Officer Steve Hasker also presented. Thomson Reuters announced the same day, Feb. 24, that CoCounsel had reached 1 million users. Thomson Reuters, which affirmed its full-year revenue guidance Tuesday, continues to see “broad-based positive signs” in terms of customer retention, Hasker told analysts during the earnings call. “So there is nothing new or worrying in terms of customers moving away from our content-driven technology products.” An updated, agentic version of CoCounsel is in testing, the company said, with plans to launch in the third quarter. Thomson Reuters earned $1.27 per share on an adjusted basis in its first quarter, more than the $1.21 expected by a Bloomberg survey of analysts. Revenue of $2.09 billion also beat expectations. In an interview, Hasker acknowledge...

JHVEPhoto/iStock Editorial via Getty Images Introduction Micron Technology, Inc. ( MU ) is a regular company in my portfolio of frequently covered stocks on this platform, and I had been rating it as a Buy before the memory shortage had even begun. The stock is up by a staggering 400% since my first coverage in April of last year, which makes me incredibly happy, since I am a shareholder myself, even though I opened a position later than that first coverage. Previous Coverage The last time I gave the stock a Strong Buy rating , it plunged after delivering an amazing quarter. It was driven by the market sentiment, and not the financial indicators, that the demand for memory is decreasing, or that the supply is already sufficient. Even though there had been some volatility, I’ve proven to be right about Micron once again, as the stock is up by 50% since that coverage. Previous Coverage A large chunk of that price increase happened today, as the stock is up by 12% as I’m writing this, driven by the news about the beginning of shipping of 245TB Micron 6600 ION Data Center SSD . I’ll talk about this piece of news in a moment, but I already have to admit I see the disconnect between the news and the reaction, the same as I saw the disconnect when the company had the best quarter ever, but the stock plunged. The market is trigger-happy lately, and I find it hard to navigate these moods. Even though I believe there is still room for the memory rally left, I think investors start to price in way too much good news, and the opportunity for buying the stock at an adequate valuation multiple is shutting down. Due to some of my personal concerns about the geopolitical tension, mixed with a disproportionate stock market rally and an oversized Micron position I hold, I am trimming a part of my holdings, locking in some profits, just to cover the downside. It may sound inconsistent, although I still rate the stock as a Buy, as if I didn’t have a position and, say, found out about M...

Micron: I’m Trimming My Position Despite The AI Gold Rush (NASDAQ:MU) Seeking Alpha

As if the recovery in the Nasdaq from the March 30 low wasn't shocking enough, take a look at how the VanEck Semiconductor ETF (SMH) did relative to the benchmark index. The SMH/ QQQ weekly ratio chart broke out to a 26-year high. It's an all-time high going back to May 2000, just two months following the March 2000 tech bubble high. Let this sink in for a moment. The last time the semiconductors outperformed the Nasdaq-100 to the degree we're seeing right now was in the dotcom bubble. But before you suggest I'm calling for another bubble bursting, far from it. The SMH relative to the broader tech trade is powering ahead with a break to new highs, which is not something you tend to see at the end of trend. I'll show on a key semi player below that the fundamental valuations are far from stretched in a "bubble-icious" manner. Semis represent about 30% of the Nasdaq-100 ETF QQQ and have done a lot of heavy lifting not only since that March low, but since the rally began in 2015. Now here's where it gets interesting. Pulling up a weekly chart of SMH going back to 2018 you'll see some relationships that are almost too clean to be real — but they are. The first major bullish wave from the 2020 lows amounted to a 232% rally at 42-degree angle based on the scaling I'm using. The second major bullish wave launched from the post-2022 lows and the real AI buildout amounted to a 239% rally at a 41 degree angle. 232% and 239% at a 42- and 41-degree angle. See where I'm going with this? Fast forward to today, and we find ourselves in a third cyclical bull trend from the early 2025 lows that has traveled "only" 207%. Targeting another 235% rally projects SMH at ~$571, a major decision zone. If that zone is pierced the prior relationships suggest the cynical nature of the two prior trends no longer applies and we're in a bigger picture, secular bull trend. Further evidence that we're possibly in a secular trend is we've traveled at a 52-degree angle. It's accelerating higher. Thes...

Cerebras Systems Inc. is telling institutional investors placing orders in its IPO to specify the number of shares and the maximum price they’re willing to pay, according to people familiar with the matter, another sign that the artificial intelligence chipmaker’s shares are in high demand. Morgan Stanley , the bank leading the offering, is seeking so-called limit orders to help the company and the underwriters gauge the true level of demand at different valuations, one of the people said, asking not to be identified as the information isn’t public. Cerebras is seeking to raise as much as $3.5 billion in its initial public offering, which is set to price May 13. Read More: Nvidia Rival Cerebras Seeks to Raise $3.5 Billion in US IPO The move represents a break with the typical IPO practice, where most investors submit market orders — requests to buy at the price set by the company after evaluating the orders in aggregate. Requesting limit orders for a hot listing could pressure those submitting bids to increase their price per share, rather than risk being passed over for other investors who outbid them. Deliberations are ongoing and details of the IPO including price and size could change, the people said. Representatives for Cerebras and Morgan Stanley declined to comment. Cerebras’ listing would be this year’s biggest US IPO so far, according to data compiled by Bloomberg. The banks already received indications of interest from investors for more than $10 billion of shares before formal marketing began early Monday, people familiar with the matter have said. The IPO comes as optimism around AI has sparked a surge in chip stocks. Led by a jump in the share price of Intel Corp. , the Philadelphia Stock Exchange Semiconductor Index is up more than 40% in the past month, according to data compiled by Bloomberg. For the latest news on equity capital markets activity in the US, Canada and Latin America, follow the channel or visit NI BFWECMUS . To subscribe to ECM Watch...

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Source: Bloomberg, 7:15

Earnings Call Insights: Leonardo DRS, Inc. (DRS) Q1 2026 Management View “We’re pleased to report strong quarterly results and an excellent start to 2026... Revenue for the first quarter was up 6% year-over-year. Adjusted EBITDA grew 28% year-over-year, allowing us to deliver adjusted diluted EPS of $0.26 a share.” (President, CEO & Director John Baylouny) “Robust customer demand drove our 17th consecutive book-to-bill of at least 1x revenue, bolstering our funded backlog to new company records and enhancing visibility and growth for the full year.” (President, CEO & Director Baylouny) “In the quarter, we received a $533 million production contract IDIQ with the Distributed Aperture Infrared Countermeasure System, or DAIRCM for aircraft survivability.” (President, CEO & Director Baylouny) “We also released THOR, a tactical high-performance embedded computing product... designed to deliver high-density processing at the tactical edge with native support for AI-enabled operations and multi-sensor data fusion.” (President, CEO & Director Baylouny) “Overall, our first quarter results were well above the framework we provided on our last call as both revenue and profitability came in stronger than expected.” (Executive VP & CFO Michael Dippold) “Revenue in the first quarter was $846 million, up 6% year-over-year.” (Executive VP & CFO Dippold) Outlook “We are increasing our range for revenue to $3.9 billion to $3.975 billion, implying strong year-over-year organic revenue growth of 7% to 9%.” (Executive VP & CFO Dippold) “Additionally, we are increasing the range of adjusted EBITDA to between $515 million and $530 million, which also assumes an improved margin expectation over our prior guide.” (Executive VP & CFO Dippold) “We are now projecting adjusted diluted EPS to be in the $1.26 to $1.30 per share range.” (Executive VP & CFO Dippold) “We are now targeting free cash flow generation at approximately 75% of adjusted net earnings for the year... largely driven by increa...

Staff told to prosecute as quickly as they can, rather than waiting to gather all evidence, to tackle ‘climate of fear’ felt by Jewish community Prosecutors in England and Wales have been told to “fast-track” hate crime prosecutions after a spate of antisemitic attacks that the prime minister on Tuesday called a “crisis for all of us”. Stephen Parkinson, the director of public prosecutions, issued guidance to his staff on Tuesday telling them to bring forward prosecutions against any sort of hate crime as quickly as they could, rather than waiting until they had gathered all possible evidence. Continue reading...