Aviat Networks ( AVNW) shares fell about 30% after the company cut its fiscal 2026 forecast, citing project delays and weaker customer demand. The company now expects fiscal 2026 revenue of a midpoint of about $434 million, down from a prior midpoint of about $450 million, and adjusted EBITDA of a midpoint of about $37.5 million versus a prior midpoint of about $50 million. Third-quarter revenue w...
Aviat Networks ( AVNW) shares fell about 30% after the company cut its fiscal 2026 forecast, citing project delays and weaker customer demand. The company now expects fiscal 2026 revenue of a midpoint of about $434 million, down from a prior midpoint of about $450 million, and adjusted EBITDA of a midpoint of about $37.5 million versus a prior midpoint of about $50 million. Third-quarter revenue was $100 million, compared with $112.6 million a year earlier, as roughly $9 million in projects were pushed out amid disruptions linked to the Middle East conflict and weaker Tier 1 demand. The company reported a GAAP net loss of $2.1 million for the quarter, while non-GAAP earnings per share were $0.06. Aviat said some delayed orders have already begun shipping and expects a stronger fourth quarter, though it remained cautious on near-term visibility. More on Peabody Energy: A Weak Q1 2026, But There Is Value At This Price (Upgrade) Nektar Therapeutics: This Stock Went Up 10x In The Last Year And It's Still Cheap Janus Henderson Securitized Income ETF Q1 2026 Commentary Wall Street advances as the U.S.-Iran ceasefire continues to hold UnitedHealthcare sits mid-pack in managed healthcare Quant rankings
Briton to be evacuated from MV Hondius with Dutch colleague, after both began suffering respiratory symptoms What is hantavirus, the infection thought to have killed three on cruise ship? A British crew member who became ill after a suspected outbreak of hantavirus on a luxury cruise ship in the Atlantic Ocean is to be medically evacuated, officials have said. The crew member is being prepared for...
Briton to be evacuated from MV Hondius with Dutch colleague, after both began suffering respiratory symptoms What is hantavirus, the infection thought to have killed three on cruise ship? A British crew member who became ill after a suspected outbreak of hantavirus on a luxury cruise ship in the Atlantic Ocean is to be medically evacuated, officials have said. The crew member is being prepared for medical evacuation from the MV Hondius along with a Dutch colleague, with Dutch authorities overseeing the operation. The two crew members needed “urgent medical care” after experiencing respiratory symptoms, the tour operator Oceanwide Expeditions said. Continue reading...
Banco de Sabadell, S.A. ( BNDSF ) press release: Q1 net interest income of €872M, down 3.5% Y/Y. Quarterly NII is expected to steadily increase, with mid-single-digit growth in 4Q26 compared to 4Q25. More on Banco de Sabadell, S.A. Banco de Sabadell, S.A. (BNDSY) Q1 2026 Earnings Call Transcript Banco de Sabadell, S.A. 2026 Q1 - Results - Earnings Call Presentation Banco de Sabadell, S.A. 2025 Q4 ...
Banco de Sabadell, S.A. ( BNDSF ) press release: Q1 net interest income of €872M, down 3.5% Y/Y. Quarterly NII is expected to steadily increase, with mid-single-digit growth in 4Q26 compared to 4Q25. More on Banco de Sabadell, S.A. Banco de Sabadell, S.A. (BNDSY) Q1 2026 Earnings Call Transcript Banco de Sabadell, S.A. 2026 Q1 - Results - Earnings Call Presentation Banco de Sabadell, S.A. 2025 Q4 - Results - Earnings Call Presentation Historical earnings data for Banco de Sabadell, S.A. Dividend scorecard for Banco de Sabadell, S.A.
Google DeepMind, Microsoft, and Elon Musk's xAI have agreed to allow the US government to review new AI models before they're released to the public. In an announcement on Tuesday , the Commerce Department's Center for AI Standards and Innovation (CAISI) says it will work with the AI companies to perform "pre-deployment evaluations and targeted research to better assess frontier AI capabilities." ...
Google DeepMind, Microsoft, and Elon Musk's xAI have agreed to allow the US government to review new AI models before they're released to the public. In an announcement on Tuesday , the Commerce Department's Center for AI Standards and Innovation (CAISI) says it will work with the AI companies to perform "pre-deployment evaluations and targeted research to better assess frontier AI capabilities." CAISI, which started evaluating models from OpenAI and Anthropic in 2024 , says it has performed 40 reviews so far. Both companies "have renegotiated their existing partnerships with the center to better align with priorities in President Donald Trum … Read the full story at The Verge.
(RTTNews) - Amazon.com, Inc. (AMZN) and Transaera, a cooling and dehumidification systems provider, announced Tuesday a new collaboration following a successful six-month field trial of Transaera's rooftop-based cooling technology at an Amazon logistics facility.
(RTTNews) - Amazon.com, Inc. (AMZN) and Transaera, a cooling and dehumidification systems provider, announced Tuesday a new collaboration following a successful six-month field trial of Transaera's rooftop-based cooling technology at an Amazon logistics facility.
Thomas Kelley Susquehanna reiterated its bullish view on Churchill Downs ( CHDN ) on the heels of the high-profile Kentucky Derby. Analyst Joseph Stauff noted that what captured the firm's attention within the solid results for Derby week were the record TV ratings and record all-sources handle of $487M, which on a combined basis are seen as future indications of the growth potential still inheren...
Thomas Kelley Susquehanna reiterated its bullish view on Churchill Downs ( CHDN ) on the heels of the high-profile Kentucky Derby. Analyst Joseph Stauff noted that what captured the firm's attention within the solid results for Derby week were the record TV ratings and record all-sources handle of $487M, which on a combined basis are seen as future indications of the growth potential still inherent with this event. "We think CHDN's acquisition of the Preakness brand has significantly more leverage for it to expand the 'Triple Crown' in a larger international demand vs. the notable dilution that's occurred over the past 5 years given less participation in Preakness from the KY Derby winner due to safety," highlighted Stauff. Susquehanna has a Positive rating on Churchill Downs ( CHDN ) and a price target of $121 to represent more than 30% upside potential. Shares of Churchill Downs ( CHDN ) are down 19% on a year-to-date basis. More on Churchill Downs Churchill Downs Incorporated (CHDN) Q1 2026 Earnings Call Transcript Churchill Downs: A 150-Year-Old Cash Machine Trading At A Discount Churchill Downs Incorporated (CHDN) Q4 2025 Earnings Call Transcript Churchill Downs expects a record adjusted EBITDA tally from Kentucky Derby Week Kentucky Derby: An investor's guide to potential winners and losers
Abstract Aerial Art The international trade in goods and services deficit came in at $60.3B in March, down from the $60.4B expected and $57.8B recorded in February (revised from $57.3B), according to data released by the Census Bureau on Tuesday. The March increase in the goods and services deficit reflected an increase in the goods deficit of $4.1B to $88.7B and an increase in the services surplu...
Abstract Aerial Art The international trade in goods and services deficit came in at $60.3B in March, down from the $60.4B expected and $57.8B recorded in February (revised from $57.3B), according to data released by the Census Bureau on Tuesday. The March increase in the goods and services deficit reflected an increase in the goods deficit of $4.1B to $88.7B and an increase in the services surplus of $1.6B to $28.4B. Exports stood at $320.9B in March, $6.2B above the February level. Imports came in at $381.2B, $8.7B more than February imports. Year-to-date, the goods and services deficit has decreased $211.2B from the same period in 2025. Exports increased $100.2B, while imports decreased $111.0B. The three-month moving average for the goods and services deficit decreased by $4.2B to $57.6B. More on U.S. Economy ISM Services PMI falls more than expected in April U.S. PMI Composite rises less than initially estimated in April's final reading Factory orders rebound in March from February's anemic gain ISM Manufacturing PMI flatlines in April, missing consensus
Suriphon Singha/iStock via Getty Images For the market, everything is going well in the AI world. All the hyperscalers announced capex increases, and, according to Anthropic news, its annualized run rate has been exploding upwards beyond anyone's expectations -- which seems to validate the capex wave. Of course, the capex wave then supports everything, from nVidia ( NVDA ) to Broadcom ( AVGO ), to...
Suriphon Singha/iStock via Getty Images For the market, everything is going well in the AI world. All the hyperscalers announced capex increases, and, according to Anthropic news, its annualized run rate has been exploding upwards beyond anyone's expectations -- which seems to validate the capex wave. Of course, the capex wave then supports everything, from nVidia ( NVDA ) to Broadcom ( AVGO ), to the hyperscalers themselves, never mind memory and storage. And yet, as we'll see, there are some cracks which aren't being commented upon. Let's see: Anthropic Is Doing Incredibly Well All one needs to say here is that its annualized revenues have been exploding beyond anyone's dreams. From $9 billion at the end of December 2025, to $19 billion in March 2026, $30 billion in April and $44 billion right about now . This is enough to leave everyone speechless and seems to validate the entire AI trend. Anthropic, of course, decided to specialize itself more on the corporate market, and especially in coding, where Opus became the best model in a valuable activity. The only possible doubt, are recent rumors that GPT-5.5 Codex is competitive, and possibly superior, to Opus 4.7 on coding, though benchmarks are mixed so this is far from a certainty. But not everything is shiny in the AI land. Consider the following OpenAI's Growth Seems To Be Flagging Recently, there were news of OpenAI missing internal growth objectives . However, no numbers were attached to these news. That said, consider the following: In late February it was reported that OpenAI was doing $25 billion in annualized revenues , up from more than $20 billion at year-end. However, upon doing a financing round in March 31, 1 month later, OpenAI described its business as doing $2 billion in monthly revenues . Herein lies the problem, $2 billion per month is $24 billion per year in annualized revenues, basically unchanged from the month before when Anthropic was seeing its own revenues explode! There could be some pos...
US job openings were little changed in March, with available positions falling slightly to 6.87 million from a revised 6.92 million in February. Mike McKee reports on "Bloomberg Open Interest." (Source: Bloomberg)
US job openings were little changed in March, with available positions falling slightly to 6.87 million from a revised 6.92 million in February. Mike McKee reports on "Bloomberg Open Interest." (Source: Bloomberg)
Zulfikar Ramadhan /iStock via Getty Images Overview Peabody Energy Corporation ( BTU ) is a relatively diversified coal mining company. The two largest segments; Seaborne Thermal and Seaborne Metallurgical did in 2025 account for about half of adjusted EBITDA. However, the Seaborne Metallurgical contribution to overall earnings will increase materially going forward, from a recovery in coking coal...
Zulfikar Ramadhan /iStock via Getty Images Overview Peabody Energy Corporation ( BTU ) is a relatively diversified coal mining company. The two largest segments; Seaborne Thermal and Seaborne Metallurgical did in 2025 account for about half of adjusted EBITDA. However, the Seaborne Metallurgical contribution to overall earnings will increase materially going forward, from a recovery in coking coal prices from very depressed levels last year, and from the ramp up of production from the low-cost low-vol hard coking coal Centurion mine in Australia. The earnings split from production coming out of Australia and USA was roughly 50/50 last year as well, but the Australian contribution will increase going forward for the same reasons. Figure 1 - Source: Peabody Energy Quarterly Reports I have covered Peabody frequently over the last few years and my prior articles can be found here . I have also owned the stock during part of this time, and I have recently added the stock back to my portfolio, following the recent stock price weakness during a period that I expect to be relatively positive for Peabody. This article will primarily focus on the Q1 2026 result that was released this morning. The stock price of Peabody is down 11% year-to-date, which might not seem all that much, but the drawdown is actually 33% from the recent March high. A delay with the ramp up from Centurion explains part of the recent weakness. There is also a debate on how exposed Peabody might be to potential fuel shortages in Australia and higher diesel prices overall for its operations. With that said, I have a hard time seeing the increased focus on energy supply and energy security being anything but positive for Peabody in the medium-to-long-term. So, I consequently consider the recent weakness as a good buying opportunity, and I have changed the rating from a Hold to a Buy for Peabody. Figure 2 - Source: TradingView Q1 2026 Result Peabody reported $83M in adjusted EBITDA during Q1 2026, which was...
Alexey_Fedoren Wall Street moved higher on Tuesday after Washington reaffirmed that the ceasefire between the U.S. and Iran remains in place, easing immediate fears of a broader escalation. The confirmation helped stabilize investor sentiment, as markets reacted positively. The blue chip Dow ( DJI ) was +0.4%, the benchmark S&P 500 ( SP500 ) was +0.6%, and the tech focused Nasdaq Composite ( COMP:...
Alexey_Fedoren Wall Street moved higher on Tuesday after Washington reaffirmed that the ceasefire between the U.S. and Iran remains in place, easing immediate fears of a broader escalation. The confirmation helped stabilize investor sentiment, as markets reacted positively. The blue chip Dow ( DJI ) was +0.4%, the benchmark S&P 500 ( SP500 ) was +0.6%, and the tech focused Nasdaq Composite ( COMP:IND ) was +0.8%. From a sector-by-sector stance, nine of the 11 S&P segments were in the green, with materials on top. Going in the other direction, real estate has been the weakest performing segment. Defense Secretary Pete Hegseth confirmed Tuesday that the ceasefire with Iran remains intact despite fresh hostilities in the Strait of Hormuz, characterizing recent military action as separate from broader negotiations On the economic front, the April U.S. ISM Services PMI Index came in at 53.6 versus the 53.9 consensus figure. Furthermore, job openings fell less than feared in March, while quits rate ticked up. U.S. Treasury yields edged lower across the curve. The 10-year Treasury yield ( US10Y ) fell 1 basis point to 4.42%, while the 2-year Treasury yield ( US2Y ) slipped 1 basis point to 3.94%. The 30-year Treasury yield ( US30Y ) dipped 1 basis point to 5.00%. As for stocks that are on the move, shares of Intel ( INTC ) climbed +12.3%, while shares of PayPal ( PYPL ) fell -10.2%. More on markets Elon Musk vs. OpenAI case: Prediction markets turn bearish on Musk Palantir Technologies earnings preview: Prediction markets signal key themes 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?
Sundry Photography/iStock Editorial via Getty Images Thesis Summary On Monday, April 20th, Nektar Therapeutics ( NKTR ) announced 52-Week Topline Results from 16-Week Blinded Treatment Extension of REZOLVE-AA Demonstrate Deepening of Responses in Severe-to-Very-Severe Alopecia Areata with Rezpegaldesleukin ("Rezpeg"). After demonstrating the overall safety of the drug and efficacy in a separate in...
Sundry Photography/iStock Editorial via Getty Images Thesis Summary On Monday, April 20th, Nektar Therapeutics ( NKTR ) announced 52-Week Topline Results from 16-Week Blinded Treatment Extension of REZOLVE-AA Demonstrate Deepening of Responses in Severe-to-Very-Severe Alopecia Areata with Rezpegaldesleukin ("Rezpeg"). After demonstrating the overall safety of the drug and efficacy in a separate indication, Nektar will be conducting two phase 3 pivotal studies that could result in two blockbuster indications. Due to the great safety profile of the drug and the fact that it is targeting two massive markets with unmet needs, the probability of a massive negative outcome is low. After Monday, the probability-weighted outcomes of Nektar have shifted drastically positive, and the ~20% move in the stock did not reflect this. Now, disclaimer: I have worked in healthcare for a part of my career, but I am no biotech specialist. However, in this case I don't think that is super important. We just need to identify that there is a good probability that the quick change of weighted probability of outcomes is causing the stock to be mispriced. We are not betting on the outcome of a clinical trial. There are a few dynamics around this stock that explain why I think this mispricing can occur: 1. Biotech in general has been undercapitalized over the last few years. After the 2020-2021 euphoria and RFK Jr. taking office as Secretary of HHS, there were a lot of funds that shut down and many investors ignoring the space. 2. Investor biases. Like I mentioned in the title, this stock has gone up 10x in the last year, and many investors will quickly look and say, "I missed it". Despite this, especially in biotech, this bias can cause people to overlook a story that is mostly de-risked and still attractive. 3. In a similar manner, since the stock is up 10x, any fund that was involved earlier in the story is probably looking to book gains, as it has been a massive home run and the position s...
zimmytws/iStock via Getty Images At a glance Performance The Fund returned 0.29% and the ICE BofA US ABS & CMBS TR returned 0.48%. Contributors/detractors Allocations to collateralized mortgage obligations (CMOs) and security selection among asset-backed securities (ABS) contributed to performance. Yield-curve positioning and the allocation to mortgage-backed securities (MBS) detracted. Outlook Ag...
zimmytws/iStock via Getty Images At a glance Performance The Fund returned 0.29% and the ICE BofA US ABS & CMBS TR returned 0.48%. Contributors/detractors Allocations to collateralized mortgage obligations (CMOs) and security selection among asset-backed securities (ABS) contributed to performance. Yield-curve positioning and the allocation to mortgage-backed securities (MBS) detracted. Outlook Against a backdrop of heightened geopolitical uncertainty and dispersion, we prioritize selective risk-taking and security selection over macro calls or broad beta exposure. Portfolio management John Kerschner, CFA Nick Childs, CFA Investment environment U.S. securitized markets eked out positive returns for the quarter, overcoming a sudden shift in the outlook for inflation and global monetary policy after war in Iran sent oil prices sharply higher. Securitized sectors outperformed investment-grade (IG) corporates and U.S. Treasuries. The Federal Reserve (Fed) kept the fed funds rate unchanged at 3.50% to 3.75%, while noting the “uncertain” implications of the Middle East conflict. Having previously discounted two or three more cuts in 2026, futures markets now are anticipating no change in Fed policy. The yield curve flattened out meaningfully as 2-year Treasury yields rose more than 10-year yields and markets repriced rate-cut expectations. U.S. employment data was mostly soft, with job creation in 2025 revised sharply down and nonfarm payrolls falling in February. A strong bounce-back in job creation and a drop in the unemployment rate followed in March, indicating the labor market continues to tread water. Inflation readings were steady, with the consumer price index (CPI) coming in at 2.4% year-on-year in February. Spreads on IG ABS ended the quarter virtually unchanged, at 53 basis points (bps), while spreads on IG CMBS ended three bps narrower, at 78 bps. Portfolio review A key theme within financial markets continues to be dispersion, whereby avoiding troubled sector...
Amazon.com, Inc. (NASDAQ:AMZN) is included among the 10 Best Blue Chip Stocks to Invest in According to Billionaires. On May 4, Reuters reported that Amazon.com, Inc. (NASDAQ:AMZN) plans to let other businesses store and ship goods through its logistics network. The offering covers everything from raw materials to finished products. The move puts the company […]
Amazon.com, Inc. (NASDAQ:AMZN) is included among the 10 Best Blue Chip Stocks to Invest in According to Billionaires. On May 4, Reuters reported that Amazon.com, Inc. (NASDAQ:AMZN) plans to let other businesses store and ship goods through its logistics network. The offering covers everything from raw materials to finished products. The move puts the company […]