New York City Council Speaker Julie Menin outlined a budget proposal that she said would close a $6 billion deficit without raising taxes, cutting services or raiding the city’s savings — a plan Mayor Zohran Mamdani immediately deemed “unrealistic.” On Wednesday, Menin detailed a starkly different vision of New York’s finances compared with the proposal Mamdani brought earlier this year. The mayor...
New York City Council Speaker Julie Menin outlined a budget proposal that she said would close a $6 billion deficit without raising taxes, cutting services or raiding the city’s savings — a plan Mayor Zohran Mamdani immediately deemed “unrealistic.” On Wednesday, Menin detailed a starkly different vision of New York’s finances compared with the proposal Mamdani brought earlier this year. The mayor’s controversial budget threated a 9.5% property-tax hike if the city wasn’t able to secure more state aid. Menin said such an increase was “ill advised,” and detailed a plan that closed the deficit by re-estimating costs, raising expectations for revenue and securing $2 billion of savings. Read More: Mamdani Threatens NYC Property Tax Hike to Fill Budget Hole “Double counting previously identified savings, overestimating revenues, and exaggerating debt service savings does nothing to close a deficit,” Mamdani wrote in a social media post on X. Menin’s proposal to close the gap without increasing taxes on the wealthiest New Yorkers and most profitable corporations “effectively ensures this structural deficit will continue indefinitely,” Mamdani said. On social media , the city council called Mamdani’s accusations “untrue” and said members are “ready to negotiate a budget that delivers and maintains critical services for New Yorkers.” Within New York City politics, Menin, 58, is widely seen as a more moderate Democrat to serve as a check on the 34-year-old democratic socialist mayor. Representing parts of the Upper East Side and Roosevelt Island, she currently leads the 51-member council. A former corporate attorney, she has worked in and around city government for more than two decades, holding prior positions in Mayor Bill de Blasio’s administration. She warned in a press conference that Mamdani’s pitch to dip into the city’s savings had led credit rating companies to downgrade the city’s outlook, which she said would be “potentially catastrophic” for its ability to borrow...
SoundHound AI (NASDAQ: SOUN) just made a move that could reshape investors' view of its future, but the market still isn't convinced. That tension is what makes this story so compelling, because if adoption follows, the upside case could look very different from today's fear.
SoundHound AI (NASDAQ: SOUN) just made a move that could reshape investors' view of its future, but the market still isn't convinced. That tension is what makes this story so compelling, because if adoption follows, the upside case could look very different from today's fear.
Beta: A Powerful But Faulty Tool For Managing Risk Authored by Michael Lebowitz via RealInvestmentAdvice.com, When investors want to reduce risk, one commonly used tool is beta. For instance, an investor may sell higher-beta stocks and replace them with lower-beta ones to cushion against an expected market decline. Such a strategy is intuitive and widely used; however, it can be greatly flawed. We...
Beta: A Powerful But Faulty Tool For Managing Risk Authored by Michael Lebowitz via RealInvestmentAdvice.com, When investors want to reduce risk, one commonly used tool is beta. For instance, an investor may sell higher-beta stocks and replace them with lower-beta ones to cushion against an expected market decline. Such a strategy is intuitive and widely used; however, it can be greatly flawed. We recently received a question from a client about how we use beta to manage our portfolios. Given recent volatility and declining prices, the timing could not be better to explore both the power of beta and its important constraints. What Is Beta In simplistic terms, beta answers one question: when the market moves, how much does a stock tend to move with it? To wit, a stock with a beta of 0.50 should move roughly half as much as the market in either direction. A stock with a beta of 2.0 should move roughly twice as much. In statistics, beta is the slope of the best-fit line through a scatter plot comparing a stock’s weekly returns to the market’s returns. The steeper the line, the higher the beta, and vice versa. To clarify, consider the graph below. Each dot on the scatter chart shows the intersection of the weekly returns of Exxon (XOM) and the S&P 500 over the last five years. The beta of XOM, or the slope, quantifies the angle of the best-fit line (orange line). XOM has a beta of 0.43. Thus, for every 1.00% increase or decrease in the S&P 500, the orange line will rise or fall by 0.43%. The yellow circle shows that an approximate 5.00% increase in the S&P 500 equates to an expected 2.15% (0.43% * 5%) increase in XOM. If an investor fears a market drawdown, they might want to replace higher-beta stocks with lower-beta ones like XOM. Conversely, they might do the opposite if they think the market will move higher. If only portfolio management were that easy! Correlation Matters- Analyzing XOM Let’s stick with the XOM analysis to demonstrate how misleading beta can be. As...
AHRT sells two multifamily notes for $63M, as part of its ongoing exit from real estate financing platform. The proceeds will be used to cut debt and ramp up share buybacks.
AHRT sells two multifamily notes for $63M, as part of its ongoing exit from real estate financing platform. The proceeds will be used to cut debt and ramp up share buybacks.
Distressed riders found themselves stranded for hours as Apollo Go customer service agents offered ‘useless platitudes’ A “system malfunction” has caused several self-driving robotaxis to stall in the middle of the road in China, police have confirmed, after distressed riders found themselves stranded for hours. Local authorities in the central Chinese city of Wuhan said they began receiving calls...
Distressed riders found themselves stranded for hours as Apollo Go customer service agents offered ‘useless platitudes’ A “system malfunction” has caused several self-driving robotaxis to stall in the middle of the road in China, police have confirmed, after distressed riders found themselves stranded for hours. Local authorities in the central Chinese city of Wuhan said they began receiving calls “one after another” on Tuesday night from riders reporting that autonomous vehicles operated by Chinese internet company Baidu had frozen. Continue reading...
Kevin Winter/Getty Images Entertainment The Mario brothers are back in their second animated full-length motion picture (note to Mario purists: this doesn't include the anime or live-action films) in an intergalactic battle with Bowser Jr. to save the galaxy. The Super Mario Galaxy Movie , the Illumination ( CMCSA ) and Nintendo-produced movie, hits theaters on April 1, featuring familiar faces fr...
Kevin Winter/Getty Images Entertainment The Mario brothers are back in their second animated full-length motion picture (note to Mario purists: this doesn't include the anime or live-action films) in an intergalactic battle with Bowser Jr. to save the galaxy. The Super Mario Galaxy Movie , the Illumination ( CMCSA ) and Nintendo-produced movie, hits theaters on April 1, featuring familiar faces from the first Mario movie and characters from other Nintendo IPs like Fox McCloud, R.O.B., Pikmin, and King Wart. With heavy marketing and the participation of some of Hollywood’s biggest names like Chris Pratt, Jack Black, Anya Taylor-Joy, and Glen Powell, the movie is expected to draw in big crowds during the holiday weekend and to knock Project Hail Mary ( AMZN ) off its lofty box-office perch. Reviews, however, have been mixed, with Rotten Tomatoes giving it an underwhelming 44% to 46% score based on 80 reviews, with some calling the film “the most enjoyable movie theater experience of the year,” while others found it to be “a loud, overstuffed reel of loosely connected comedy and action beats presented in mind-boggling onslaughts of color and detail.” Clearly, the movie is not for everyone. The Super Mario Galaxy Movie (Rotten Tomatoes) Overstuffed or not, most agree that the production and animation are impressive, featuring “some of the most beautiful and dazzling animation you will ever see.” The film was animated by Illumination Studios Paris ( CMCSA ) using 3D CGI, a technique known for its highly detailed, bright, and glossy visuals with a focus on textures like the stitching on Mario’s cap. The animation team also incorporated anime-style sequences in a nod to Nintendo’s ( NTDOY ) ( NTDOF ) Japanese roots. So while Mario fans will likely have plenty to enjoy, the film may struggle to bring new audiences into the fold, even with its recognizable voices and playful Easter eggs. “This isn’t a film that’s going to win over its skeptics,” said David Gonzalez of The Ci...
While geopolitical tensions provide a constant drumbeat of anxiety for the average investor, the underlying fundamentals of the AI sector tell a much different story.
While geopolitical tensions provide a constant drumbeat of anxiety for the average investor, the underlying fundamentals of the AI sector tell a much different story.
While geopolitical tensions provide a constant drumbeat of anxiety for the average investor, the underlying fundamentals of the AI sector tell a much different story.
While geopolitical tensions provide a constant drumbeat of anxiety for the average investor, the underlying fundamentals of the AI sector tell a much different story.
CharlesEberson/iStock Editorial via Getty Images Churchill Downs Incorporated ( CHDN ) announced on Wednesday that the United States District Court for the Western District of Kentucky ruled that the Horseracing Integrity and Safety Authority acted in an arbitrary and capricious manner, and therefore its purse-weighted fee methodology and associated efforts to collect fees under this basis are unl...
CharlesEberson/iStock Editorial via Getty Images Churchill Downs Incorporated ( CHDN ) announced on Wednesday that the United States District Court for the Western District of Kentucky ruled that the Horseracing Integrity and Safety Authority acted in an arbitrary and capricious manner, and therefore its purse-weighted fee methodology and associated efforts to collect fees under this basis are unlawful. The case involved a broader fee dispute with the Horseracing Integrity and Safety Authority over how 2025 regulatory assessments were calculated and collected. Churchill Downs ( CHDN ) and the New York Racing Association sued HISA in late 2024 in the Western District of Kentucky, arguing HISA’s purse-weighted fee formula was inconsistent with the statute and that fees should be based on racing starts instead. HISA had been billing Churchill Downs ( CHDN ) and its affiliated tracks for 2025 assessments under a methodology Churchill argued was unlawful and unfair. HISA later sought about $2.4M in unpaid assessments plus interest from Churchill and related tracks, with the threat that nonpayment could limit or suspend their ability to simulcast races to out-of-state wagering outlet "We are pleased with the court's decision in our favor," stated Churchill Downs ( CHDN ) CEO Bill Carstanjen. "This is indicative of HISA’s ongoing fiscal mismanagement, which is a distraction from our joint mission of equine health and safety. By finding that HISA continuously exceeded its authority, the court reiterated why it was necessary to bring this legal action," he added. More on Churchill Downs Churchill Downs: A 150-Year-Old Cash Machine Trading At A Discount Churchill Downs Incorporated (CHDN) Q4 2025 Earnings Call Transcript Churchill Downs signals $15M-$20M incremental Derby EBITDA in 2026 as Derby Week expands Churchill Downs gets a boost from both historical racing and sports betting Seeking Alpha’s Quant Rating on Churchill Downs
Slot: ‘Hopefully he can make his legacy more special’ Liverpool’s record signing ‘in a really good place’ The Liverpool head coach Arne Slot believes Mohamed Salah will “leave the club a legend” after announcing his departure at the end of the season. The Egypt international took to social media last week to reveal he had come to an agreement with the club to end the contract he only extended last...
Slot: ‘Hopefully he can make his legacy more special’ Liverpool’s record signing ‘in a really good place’ The Liverpool head coach Arne Slot believes Mohamed Salah will “leave the club a legend” after announcing his departure at the end of the season. The Egypt international took to social media last week to reveal he had come to an agreement with the club to end the contract he only extended last summer a year early. Continue reading...
tiero/iStock via Getty Images As electricity demand has risen due to AI infrastructure, data centers and aging grids are needing to be upgraded or replaced, Argan ( AGX ) keeps finding itself in the exact right place at the right time. And while Argan isn’t a big flashy mega-cap technology stock, it is tied to those stocks' greatest need: Power. Between their incredible quarterly report that they ...
tiero/iStock via Getty Images As electricity demand has risen due to AI infrastructure, data centers and aging grids are needing to be upgraded or replaced, Argan ( AGX ) keeps finding itself in the exact right place at the right time. And while Argan isn’t a big flashy mega-cap technology stock, it is tied to those stocks' greatest need: Power. Between their incredible quarterly report that they just released on March 26th and the subsequent gap up the next day, this is a good time to Own or Buy into Argan! And I’ll tell you why. Argan, headquartered in Arlington, VA, is a power-construction and EPC company that uses its subsidiaries (like Gemma Power Systems) to a wide number of services that help to build out power assets. Assets such as engineering, procurement, construction, commissioning, operations, maintenance, project development, and even technical consulting services. Now, I know that doesn’t exactly sound interesting, but it’s necessary and Argan knows how to sell it. Argan has stayed disciplined, selective, and highly execution-focused with their projects. After looking at their revenue, margins, backlog and balance sheet, it's quite clear to me that Argan isn’t just chasing after growth. They’re focused on winning large projects and completing them the right way. Argan also looks to be in its early stages, they have no debt and have been operating in a very narrow niche that is now becoming a major demand. Everyone knows that these AI data centers need massive amounts of power. The grid is being increasingly strained, and older assets need to be upgraded or replaced. Argan even mentioned in one of their own reports that the growing demand from AI and data centers is putting more pressure on power systems. And we can see it! Companies are tripping over themselves in a race to solve these shortages. But Argan has shown us in their latest report that they have something special. Execution! AGX overview (Best Stocks Now) Argan’s CEO, David Watson, said tha...
Michael O’Leary says UK’s reliance on Kuwait for jet fuel supply amid Iran war exposes it to possible shortages The UK is the most vulnerable country in Europe to potential jet fuel shortages as the Iran war throttles supplies from the Gulf, the boss of Ryanair has said. Michael O’Leary, the chief executive of the budget airline, said Britain would be the most exposed to jet fuel shortages because...
Michael O’Leary says UK’s reliance on Kuwait for jet fuel supply amid Iran war exposes it to possible shortages The UK is the most vulnerable country in Europe to potential jet fuel shortages as the Iran war throttles supplies from the Gulf, the boss of Ryanair has said. Michael O’Leary, the chief executive of the budget airline, said Britain would be the most exposed to jet fuel shortages because it relies on Kuwait for about 25% of its supply. Continue reading...
Super Micro Computer Inc. co-founder Yih-Shyan “Wally” Liaw pleaded not guilty Wednesday in New York to charges that he helped illegally divert billions of dollars in Nvidia Corp. -powered servers to China in a hearing in Manhattan. Liaw was charged by federal prosecutors in a scheme to send US-assembled servers containing Nvidia’s cutting-edge chips to Chinese customers in violation of US export ...
Super Micro Computer Inc. co-founder Yih-Shyan “Wally” Liaw pleaded not guilty Wednesday in New York to charges that he helped illegally divert billions of dollars in Nvidia Corp. -powered servers to China in a hearing in Manhattan. Liaw was charged by federal prosecutors in a scheme to send US-assembled servers containing Nvidia’s cutting-edge chips to Chinese customers in violation of US export controls. The case represents the highest-profile crackdown on alleged smuggling of restricted AI technology to China. The US claims Liaw and two others associated with Super Micro sold the hardware to an unidentified Southeast Asian pass-through company and coordinated its shipment to the true customers in China. Also charged were Ruei-Tsang “Steven” Chang, who served as a general manager in Super Micro’s Taiwan office, and Ting-Wei “Willy” Sun, an outside contractor described by US authorities as a “fixer” who allegedly aided in the diversion. Sun, wearing a bright yellow prison jumpsuit, also pleaded not guilty in the hearing before US District Judge Edgardo Ramos . Sun’s lawyer told the judge he is working with prosecutors on a bail package for his client. Liaw is free on $5 million bond. Chang is not in custody. The smuggling charges sent Super Micro plummeting when they were made public on March 19, quickly erasing more than $6 billion from the company’s market value. Liaw has resigned from the board . Read More: Super Micro Co-Founder Charged With Smuggling, Departs Board Ramos set a Nov. 2 trial in the case. The case is US v. Liaw, 26-cr-00100, US District Court, Southern District of New York (Manhattan).
May WTI crude oil (CLK26 ) today is down -1.62 (-1.60%), and May RBOB gasoline (RBK26 ) is down -0.0787 (-2.46%). Crude oil and gasoline prices are sharply lower today amid mounting optimism that the war in the Middle East is nearing an end. Crude prices remained lower after weekly...
May WTI crude oil (CLK26 ) today is down -1.62 (-1.60%), and May RBOB gasoline (RBK26 ) is down -0.0787 (-2.46%). Crude oil and gasoline prices are sharply lower today amid mounting optimism that the war in the Middle East is nearing an end. Crude prices remained lower after weekly...
On March 26, the Nasdaq Composite (NASDAQINDEX: ^IXIC) entered a correction, closing down more than 10% from its high . The Dow Jones Industrial Average (DJINDICES: ^DJI) joined the Nasdaq in a correction on March 27. As of market close on March 30, the Nasdaq was down 13.3% from its all-time high, the Dow is slightly out of correction territory, down 9.9%, and the S&P 500 (SNPINDEX: ^GSPC) is dow...
On March 26, the Nasdaq Composite (NASDAQINDEX: ^IXIC) entered a correction, closing down more than 10% from its high . The Dow Jones Industrial Average (DJINDICES: ^DJI) joined the Nasdaq in a correction on March 27. As of market close on March 30, the Nasdaq was down 13.3% from its all-time high, the Dow is slightly out of correction territory, down 9.9%, and the S&P 500 (SNPINDEX: ^GSPC) is down 9.1%. Here's what would happen if all three indexes fell into a correction, and how to navigate market volatility. Continue reading