It’s been a big end to April for Bill Ackman as his much-anticipated Pershing Square USA (NYSE:PSUS) went live on public markets. Of course, it was a tough slog out of the gate, but for investors interested in a hefty discount, now could be as good a time as any to bet on Ackman, a ... Bill Ackman Said High‑Quality Stocks Are Stupidly Cheap. He’s Right.
It’s been a big end to April for Bill Ackman as his much-anticipated Pershing Square USA (NYSE:PSUS) went live on public markets. Of course, it was a tough slog out of the gate, but for investors interested in a hefty discount, now could be as good a time as any to bet on Ackman, a ... Bill Ackman Said High‑Quality Stocks Are Stupidly Cheap. He’s Right.
PayPal (NASDAQ: PYPL) stock is getting hit with a substantial pullback following the company's recent quarterly report this morning. The fintech giant's Q1 sales and earnings actually beat the market's expectations and triggered a brief rally for the stock in pre-market trading today, but the momentum reversed after the official daily session kicked off. The valuation retreat is occurring even as ...
PayPal (NASDAQ: PYPL) stock is getting hit with a substantial pullback following the company's recent quarterly report this morning. The fintech giant's Q1 sales and earnings actually beat the market's expectations and triggered a brief rally for the stock in pre-market trading today, but the momentum reversed after the official daily session kicked off. The valuation retreat is occurring even as the broader market appears to be in a bullish mood . PayPal stock was down 9.6% as of 1:45 p.m. ET Tuesday. Meanwhile, the S&P 500 's level was up 0.8%, and the Nasdaq Composite 's level had climbed 0.9%. Image source: Getty Images. Continue reading
According to Pennsylvania's filing, a Character AI chatbot presented itself as a licensed psychiatrist during a state investigation, and also fabricated a serial number for its state medical license.
According to Pennsylvania's filing, a Character AI chatbot presented itself as a licensed psychiatrist during a state investigation, and also fabricated a serial number for its state medical license.
The Nasdaq was cruising on Tuesday despite another round of software stock struggles. The Dow was up 306 points, or 0.6%. The Nasdaq’s gains were even more impressive when you consider the Roundhill Magnificent Seven ETF was flat and the iShares Expanded Tech-Software Sector ETF was down 0.8%.
The Nasdaq was cruising on Tuesday despite another round of software stock struggles. The Dow was up 306 points, or 0.6%. The Nasdaq’s gains were even more impressive when you consider the Roundhill Magnificent Seven ETF was flat and the iShares Expanded Tech-Software Sector ETF was down 0.8%.
The Precious Paper Problem: The Divergence In Western Bullion Markets Authored by Armin Sidhu via The Mises Institute, Gold has nearly doubled in two years. Silver has outpaced it. For the commodity that backed money for most of human history and that central banks still treat as the final settlement asset, these moves should represent a clean signal about physical scarcity and monetary demand. We...
The Precious Paper Problem: The Divergence In Western Bullion Markets Authored by Armin Sidhu via The Mises Institute, Gold has nearly doubled in two years. Silver has outpaced it. For the commodity that backed money for most of human history and that central banks still treat as the final settlement asset, these moves should represent a clean signal about physical scarcity and monetary demand. Western gold prices no longer carry that information cleanly. The prices quoted in London and New York are increasingly detached from the physical reality of who owns what gold, where it sits, and whether it can be delivered on demand. What looks like a bull market is the early indication of a pricing system failure. Context Western bullion markets operate on a credit model. The London Bullion Market Association (LBMA) runs the largest gold market in the world, but most of the gold traded there is held in what the industry calls “unallocated” accounts. This means the customer holds a paper claim on a clearing bank rather than title to a specific bar in a vault. When an investor buys an ounce through an LBMA member bank, the bank records a liability on its balance sheet and does not transfer ownership of any particular piece of metal. The Commodity Exchange in New York (COMEX) works on similar principles for futures contracts. Historically, fewer than one percent of COMEX contracts ever resulted in physical delivery. The rest were closed out or rolled forward as bookkeeping entries. Eastern bullion markets operate on a property model. The Shanghai Gold Exchange (SGE)—the largest Asian gold venue and the operational arm of China’s central bank for physical gold—requires sellers to deposit physical metal before trading and buyers to pay in full upfront. More than 90 percent of SGE spot contracts result in actual delivery of actual bars. The Shanghai Futures Exchange—the second major Chinese precious metals venue—operates on similar physical-first principles for its gold and silv...
CoreWeave Inc. has secured lower borrowing costs on a first-of-its-kind $3.1 billion loan backed by customer contracts for microchips, benefiting from strong investor demand for artificial intelligence exposure. The loan’s margin has tightened by 50 basis points from early discussions to 4.5 percentage points above the benchmark, according to people with knowledge of the matter. The move came afte...
CoreWeave Inc. has secured lower borrowing costs on a first-of-its-kind $3.1 billion loan backed by customer contracts for microchips, benefiting from strong investor demand for artificial intelligence exposure. The loan’s margin has tightened by 50 basis points from early discussions to 4.5 percentage points above the benchmark, according to people with knowledge of the matter. The move came after the deal attracted more than $15 billion of investor orders, the people added, asking not to be identified because details are private. Morgan Stanley and Mitsubishi UFJ Financial Group are managing the loan, offered at a discounted price of 99 cents on the dollar. The transaction marks CoreWeave’s first so-called GPU financing — named for the graphics processing units that back the loans — to be fully syndicated in the US leveraged loan market, significantly expanding the potential investor base and enabling trading. The firm previously completed four similar deals, but they were private and limited to a handful of investors. The loan adds to a flurry of borrowing by technology companies tapping markets from junk bonds to project finance to raise tens of billions of dollars for AI infrastructure. It comes as Alphabet Inc. is raising almost $17 billion from new investment-grade bond offerings in the European and Canadian markets. MUFG and Morgan Stanley declined to comment, while a representative for CoreWeave didn’t immediately respond to a comment request. Proceeds from CoreWeave’s loan will support buying and installing GPUs to be deployed on behalf of OpenAI and AI developer Cohere Inc. , which have contracts to use the technology. The loan — to be issued through a subsidiary, CoreWeave Financing DDTL V, LLC — has a maturity of 5.5 years, which is typical for GPU loans to match the expected depreciation schedule of the chips. The debt is in the form of a delayed-draw term loan, allowing the company to draw the full amount over a period of time. It is expected to be fu...
NIKE announced today that its Board of Directors has declared a quarterly cash dividend of $0.41 per share on the Company's outstanding Class A and Class B Common Stock payable on July 1, 2026, to shareholders of record at the close of business on June 1, 2026. The Board of Dir
NIKE announced today that its Board of Directors has declared a quarterly cash dividend of $0.41 per share on the Company's outstanding Class A and Class B Common Stock payable on July 1, 2026, to shareholders of record at the close of business on June 1, 2026. The Board of Dir
Earnings Call Insights: First Watch Restaurant Group (FWRG) Q1 2026 Management View “We delivered same-restaurant sales growth of 2.8%, generated restaurant-level operating profit margin of 18.5% and expanded the system to 648 restaurants with the opening of 16 new locations.” (CEO, President & Director Christopher Tomasso) “We are reiterating our fiscal 2026 same-restaurant sales growth and total...
Earnings Call Insights: First Watch Restaurant Group (FWRG) Q1 2026 Management View “We delivered same-restaurant sales growth of 2.8%, generated restaurant-level operating profit margin of 18.5% and expanded the system to 648 restaurants with the opening of 16 new locations.” (CEO, President & Director Christopher Tomasso) “We are reiterating our fiscal 2026 same-restaurant sales growth and total revenue growth guidance. We're also raising the low end of our adjusted EBITDA guidance.” (CEO Tomasso) “We expanded the rollout of our digital marketing campaign to approximately 75% of our restaurant base, up from roughly 1/3 in 2025.” (CEO Tomasso) “We are pulling forward several million dollars of marketing spend into the second quarter from the back half of 2026.” (CEO Tomasso) “The newest introduction, the Chimichurri Steak & Eggs Hash is now our highest performing seasonal entree of all time.” (CEO Tomasso) “Total first quarter revenues were $331 million, an increase of 17.3% with positive same-restaurant sales growth of 2.8%.” (CFO & Treasurer Mel Hope) “Same-restaurant traffic growth was negative 2%, with weather negatively affecting the quarter by around 100 basis points in addition to our customary planned sales transfer.” (CFO Hope) Outlook “We are reiterating the 1% to 3% range of same-restaurant sales growth, and we continue to expect positive same-restaurant sales growth in each quarter of 2026.” (CFO Hope) “We continue to expect total revenue growth of 12% to 14% with around 100 net basis points of impact from acquisitions.” (CFO Hope) “We're raising the lower end of our 2026 adjusted EBITDA guidance range… $133 million to $140 million, up from $132 million to $140 million previously.” (CFO Hope) “We are reaffirming a total of 59 to 63 net new system-wide restaurants… We also plan to close 3 company-owned restaurants this year.” (CFO Hope) “We continue to expect full year commodity inflation of 1% to 3%… Restaurant level labor cost inflation is expected to ...
Earnings Call Insights: Waters Corporation (WAT) Q1 2026 Management View "We delivered an excellent first quarter as a combined company" and "grew adjusted earnings per share by 20%" to $2.70, CEO Udit Batra said, while pointing to "double-digit organic growth in our legacy businesses" and "meaningfully better-than-expected revenue for our newly acquired businesses." CEO Batra tied the early BD in...
Earnings Call Insights: Waters Corporation (WAT) Q1 2026 Management View "We delivered an excellent first quarter as a combined company" and "grew adjusted earnings per share by 20%" to $2.70, CEO Udit Batra said, while pointing to "double-digit organic growth in our legacy businesses" and "meaningfully better-than-expected revenue for our newly acquired businesses." CEO Batra tied the early BD integration to execution initiatives, saying Waters launched a "180-day plan to reinvigorate growth" focused on "forecast and funnel reviews," higher commercial activity with "clear KPIs and daily management," and "pricing discipline" including "2 new deal desks." CFO Amol Chaubal highlighted margin and mix upside early in the combined year: "Total company adjusted gross margin was 54.7%, approximately 200 basis points better than expected" and "adjusted operating margin was 23.6%, also approximately 200 basis points better than expected." CEO Batra emphasized synergy progress and targets, stating, "we remain firmly on track to deliver our $55 million target for 2026" cost synergies and "well on track to deliver $50 million of expected revenue synergies this year," while noting cross-selling is already contributing (including Biosciences channel mass spec activity). Outlook Management raised full-year 2026 organic constant-currency revenue growth guidance to 6.5% to 8%; CEO Batra said the increase reflects Q1 performance and "embedding $15 million of expected revenue synergies from cross-selling of mass spec." For the acquired BD Biosciences and Diagnostic Solutions businesses, management now expects "approximately $3.035 billion of reported revenue in 2026," which CFO Chaubal said includes "$35 million of expected revenue synergies." For total company revenue, CEO Batra said, "total 2026 reported revenue is expected to be approximately $6.405 billion to $6.455 billion based on latest FX rates." CFO Chaubal added, "we now expect our full year adjusted EBIT margin to be 28.2% ...
Unlicensed investment bankers Investment banking is, in the US, a regulated profession. If you are doing certain investment banking activities — like “advising on and/or facilitating … debt and equity offerings, mergers and acquisitions, tender offers, financial restructurings, asset sales, divestitures or other corporate reorganizations and business combination transactions,” you have to pass a l...
Unlicensed investment bankers Investment banking is, in the US, a regulated profession. If you are doing certain investment banking activities — like “advising on and/or facilitating … debt and equity offerings, mergers and acquisitions, tender offers, financial restructurings, asset sales, divestitures or other corporate reorganizations and business combination transactions,” you have to pass a licensing exam and register with Finra, the Financial Industry Regulatory Authority. This sometimes trips people up, because investment banking is not as clearly defined as some other professions. If I am buddies with a chief executive officer, and I tell her “hey I’ve got another buddy who runs a startup, you should buy them,” and she does and pays me a finder’s fee, did I commit unlicensed investment banking? Maybe ? If I am some random celebrity or politician and I get hired by an investment bank to glad-hand clients, can I glad-hand the clients before passing my licensing exams? Not a great idea, but I bet it has happened. Or new investment banking analysts have a few weeks to study for and pass their licensing exams after they start work. So, for some period of time, they are not licensed investment bankers. Yet they work 100-hour weeks. What do they do? Well, not “advise on and/or facilitate” mergers, in the sense that the first-week analyst is not on the phone with the client’s CEO walking her through merger strategy. But can they format pitchbooks? Probably. Can they show up at client meetings and sit quietly? I do not want to give you any sort of regulatory advice, but I bet (1) that has happened and (2) no one has gotten in trouble for it. It’s possible that the practical rule is something like: “If you are on the working group list for a live transaction, you’d better be a licensed investment banker.” The WGL is a document that, among other things, tells the client who its advisers are. If your phone number is listed on the WGL, the client might call you for advic...
Earnings Call Insights: Angel Oak Mortgage REIT (AOMR) Q1 2026 Management view "Within this setting, our platform performed well, supported by our focus on credit quality, funding discipline and repeatable processes," said President & CEO Sreeniwas Prabhu. Prabhu highlighted capital markets execution and timing, saying, "We were pleased to complete the AOMT 2026-2 securitization shortly before the...
Earnings Call Insights: Angel Oak Mortgage REIT (AOMR) Q1 2026 Management view "Within this setting, our platform performed well, supported by our focus on credit quality, funding discipline and repeatable processes," said President & CEO Sreeniwas Prabhu. Prabhu highlighted capital markets execution and timing, saying, "We were pleased to complete the AOMT 2026-2 securitization shortly before the onset of the conflict in the Middle East," and added, "We remain selective in our use of these markets, staying focused on sound structures, conservative leverage and economics that meet our return thresholds." "Our first quarter results reflected our established operating growth trend with another consecutive quarter of net interest income expansion and prudent expense management," Prabhu said, while noting that "unfavorable valuation impacts during the quarter" were "driven by rates and spreads increasing and becoming more volatile." "In the first quarter, we had a GAAP net loss of $7.4 million or a loss of $0.30 per common diluted share," said Treasurer & CFO Brandon Filson, attributing the result to "unrealized valuation changes on our securitized and unsecuritized loan portfolios" tied to "macroeconomic market volatility towards the end of the quarter." Filson framed the operating run-rate as continuing: "we continued our earnings growth trajectory established in 2025 with another consecutive quarter of net interest income growth," and added, "we expect to continue our trend of 4 securitizations per year or roughly 1 per quarter." Outlook "We see value in maintaining a cautious but active posture," Prabhu said, adding, "Our priorities remain consistent, growing earnings, executing reliably in capital markets and positioning the portfolio to perform across a wide range of economic outcomes." On securitization cadence, Filson reiterated, "we expect to continue our trend of 4 securitizations per year or roughly 1 per quarter," while also flagging sensitivity to market co...
Earnings Call Insights: Energizer Holdings (ENR) Q2 fiscal 2026 Management view "As we move through fiscal 2026, our strategic priorities remain clear and consistent, restoring growth, rebuilding margins impacted by tariffs and returning the business to its long-term historical cash flow profile." (President, CEO & Director Mark LaVigne) "We expect the third quarter to mark an inflection in organi...
Earnings Call Insights: Energizer Holdings (ENR) Q2 fiscal 2026 Management view "As we move through fiscal 2026, our strategic priorities remain clear and consistent, restoring growth, rebuilding margins impacted by tariffs and returning the business to its long-term historical cash flow profile." (President, CEO & Director Mark LaVigne) "We expect the third quarter to mark an inflection in organic net sales, supported by stable category dynamics, higher quality distribution across our portfolio, continued progress on the APS integration and strong innovation." (President, CEO & Director LaVigne) "Innovation remains a core pillar of our strategy, as highlighted by the recent launch of Energizer Ultimate Child Shield." (President, CEO & Director LaVigne) "In Auto Care, growing distribution of the Armor All Podium Series... is enhancing the business' long-term earnings and growth potential." (President, CEO & Director LaVigne) "As a result, we expect to deliver the high end of our fiscal 2026 earnings outlook." (President, CEO & Director LaVigne) "On the top line, we're calling top line kind of organic flat." (Executive VP & CFO John Drabik) Outlook "We knew the first half we're going to have organic declines, and we still expect growth in Q3 and Q4." (President, CEO & Director LaVigne) "We are tempering a bit in terms of the macro outlook... because we do see a little bit more of a cautious consumer than maybe what we anticipated going into November." (President, CEO & Director LaVigne) "Those credits will probably in '26 be about 10% to 15% lower than we originally planned, but that doesn't change kind of the run rate of what we expect from those credits over time." (Executive VP & CFO Drabik) "We continue to incur tariffs at roughly a consistent rate with how we entered the year... something like $15 million a quarter... or $60 million on a yearly basis." (Executive VP & CFO Drabik) "Fourth quarter should be relatively clean... kind of that $15 million tariff hit w...
Ryan Kelly, 41, had ‘explosive device’, say police, who are treating death of woman, Jo Shaw, 35, as homicide A man forced his way into a house in Bristol with an “explosive device” a few minutes before a blast that killed his ex-partner and himself. Police said they were treating the death of the woman, whom they believe to be 35-year-old Jo Shaw, as homicide and named the man who died as her for...
Ryan Kelly, 41, had ‘explosive device’, say police, who are treating death of woman, Jo Shaw, 35, as homicide A man forced his way into a house in Bristol with an “explosive device” a few minutes before a blast that killed his ex-partner and himself. Police said they were treating the death of the woman, whom they believe to be 35-year-old Jo Shaw, as homicide and named the man who died as her former partner, Ryan Kelly, 41. Continue reading...
mesh cube Semiconductor stocks are delivering a historic surge, recording their strongest 25-day rolling performance since March 9, 2000, according to Dow Jones Market Data. The sharp advance underscores renewed investor confidence in the sector, fueled by robust demand tied to artificial intelligence, data centers, and next-generation computing technologies. Chipmakers have broadly outperformed t...
mesh cube Semiconductor stocks are delivering a historic surge, recording their strongest 25-day rolling performance since March 9, 2000, according to Dow Jones Market Data. The sharp advance underscores renewed investor confidence in the sector, fueled by robust demand tied to artificial intelligence, data centers, and next-generation computing technologies. Chipmakers have broadly outperformed the wider market during this stretch, reflecting both improving earnings expectations and sustained capital investment trends. The rally also highlights the sector’s pivotal role in the global economy, as semiconductors remain foundational to innovation across industries, from consumer electronics to cloud infrastructure and automotive manufacturing, reinforcing their long-term growth outlook. Outlined below are the top 10 Seeking Alpha rated U.S. semiconductor stocks with market caps of at least $10B according to SA Quant Metrics: Micron Technology ( MU ), 4.99 Quant Rating. Amkor Technology ( AMKR ), 4.95 Quant Rating. Texas Instruments ( TXN ), 4.93 Quant Rating. ON Semiconductor ( ON ), 4.70 Quant Rating. Intel ( INTC ), 3.49 Quant Rating. FormFactor ( FORM ), 3.49 Quant Rating. Marvell Technology ( MRVL ), 3.48 Quant Rating. Lam Research ( LRCX ), 3.48 Quant Rating. SiTime ( SITM ), 3.48 Quant Rating. Applied Materials ( AMAT ), 3.48 Quant Rating. Semiconductor ETFs: ( SMH ), ( SOXX ), ( SOXL ), ( FTXL ), ( XSD ), ( USD ), ( PSI ), and ( SEMI ). More on markets Samsung joins the $1 trillion club as Apple chip talks spark rally Elon Musk vs. OpenAI case: Prediction markets turn bearish on Musk Hedge funds dump info tech for the second week as de-risking accelerates S&P 500: No Rest, Rotations Will Carry It Higher (Technical Analysis) Will Powell Have Influence When Kevin Warsh Assumes The Role As Fed Chairman?
A study of analyst recommendations at the major brokerages shows that Walt Disney Co. (Symbol: DIS) is the #6 broker pick, on average, out of the 30 stocks making up the Dow Jones Industrial Average, according to ETF Channel. Walt Disney Co. also comes in above the median of an
A study of analyst recommendations at the major brokerages shows that Walt Disney Co. (Symbol: DIS) is the #6 broker pick, on average, out of the 30 stocks making up the Dow Jones Industrial Average, according to ETF Channel. Walt Disney Co. also comes in above the median of an