SlavkoSereda/iStock via Getty Images Crude oil futures pulled back Thursday after Brent briefly topped $126/bbl—its highest since March 2022, shortly after Russia invaded Ukraine - on rising worries over a prolonged conflict between the U.S. and Iran while just a trickle of oil gets through the Strait of Hormuz. The surge in prices followed reports that President Trump would be briefed by military...
SlavkoSereda/iStock via Getty Images Crude oil futures pulled back Thursday after Brent briefly topped $126/bbl—its highest since March 2022, shortly after Russia invaded Ukraine - on rising worries over a prolonged conflict between the U.S. and Iran while just a trickle of oil gets through the Strait of Hormuz. The surge in prices followed reports that President Trump would be briefed by military commanders on possible action against Iran, while Iran vowed not to give up its nuclear or missile technologies and signaled it would maintain control of the strait. Brent crude ( CO1:COM ) for June delivery fell 3.4% to go off the board at $114.01/bbl, snapping an eight-session winning streak, bringing it closer to the $110.40/bbl for the July contract. Oil markets are currently in backwardation—where near-term contracts are typically priced higher than those further out—and as July contracts have been priced well below June, the switch appears to account for much of the significant price shift. "On top of the expiration liquidation flush today, Brent also came under pressure after European Union economic data came in on the soft side," Mizuho's Robert Yawger said in a note. ConocoPhillips ( COP ) CFO Andy O'Brien warned of imminent "critical shortages" of oil for some countries, with the supply pinch likely to significantly worsen as soon as June, Bloomberg reported. "The markets sort of had a bit of a grace period initially when the tankers that left the Persian Gulf in late February were still on the water; now all of those have reached their destination," O'Brien reportedly said on the company's earnings conference call. "We are going to start to see some import-dependent countries potentially start to face critical shortages as we get into the June-July time frame." In the U.S., front-month Nymex crude ( CL1:COM ) for June delivery closed down 1.7% to $105.07/bbl, breaking a three-session winning streak, and front-month Nymex natural gas ( NG1:COM ) for June delivery...
Five more states are joining an antitrust lawsuit seeking to unwind Nexstar Media Group Inc. ’s purchase of Tegna Inc. on antitrust grounds in the wake of a court ruling that paused the deal while the litigation is ongoing. Pennsylvania, Indiana and Kansas joined the antitrust suit as plaintiffs late Thursday, adding three Republican attorneys general to the case. A group of eight states with Demo...
Five more states are joining an antitrust lawsuit seeking to unwind Nexstar Media Group Inc. ’s purchase of Tegna Inc. on antitrust grounds in the wake of a court ruling that paused the deal while the litigation is ongoing. Pennsylvania, Indiana and Kansas joined the antitrust suit as plaintiffs late Thursday, adding three Republican attorneys general to the case. A group of eight states with Democratic attorneys general, led by California, initially sued over the deal before it closed in March. The amended complaint comes after US District Judge Troy L. Nunley in Sacramento on April 17 ordered the two companies to maintain separate operations until after a full trial on the antitrust allegations. Nexstar is appealing, but any chances of resuming the integration is months away. State attorneys general have stepped up their antitrust enforcement during the second Trump administration in response to concerns that federal enforcers have pulled back on merger challenges. In the case of Nexstar and Tegna, federal telecom and antitrust enforcers greenlit the deal with minimal concessions and the companies closed the transaction hours later. The states and satellite TV company DirecTV then sought and won a court-ordered stop to integration efforts. Read More: Nexstar-Tegna Deal on Hold Until Final Court Ruling, Judge Says Under Nunley’s order , Nexstar can take steps to service Tegna’s debt and provide cash flow to the 64 newly acquired broadcast TV stations. But he ruled the company cannot engage in layoffs, rejecting a bid by Nexstar to undertake “cost reduction initiatives” it said were approved prior to the merger. The judge also said that Nexstar must maintain Tegna’s retransmission agreements with distributors like DirecTV. The company had said in a court filing that Nexstar’s agreements automatically superseded those of Tegna’s stations when the transaction closed and had asked the court to clarify which should be followed. Nexstar filed an appeal with the US Court ...
Shares of Altria Group (NYSE: MO) climbed on Thursday after the tobacco titan's profits surpassed investors' expectations. Image source: Getty Images. Altria's revenue net of excise taxes rose 5.3% year over year to $4.8 billion in the first quarter. The gains were driven by a 5.2% rise in the cigarette maker's smokeable products revenue net of excise taxes, to $4.1 billion. Continue reading
Shares of Altria Group (NYSE: MO) climbed on Thursday after the tobacco titan's profits surpassed investors' expectations. Image source: Getty Images. Altria's revenue net of excise taxes rose 5.3% year over year to $4.8 billion in the first quarter. The gains were driven by a 5.2% rise in the cigarette maker's smokeable products revenue net of excise taxes, to $4.1 billion. Continue reading
The markets had a remarkable day on Thursday, with strong showings from all the major indexes and a standout performance from one in particular. The Nasdaq Composite clinched its best month since April 2020 and its seventh record close of the year, thanks to a rally in semiconductor stocks. Chip stocks were doing all the heavy lifting—the iShares Semiconductor ETF surged 2.4% today on signs that B...
The markets had a remarkable day on Thursday, with strong showings from all the major indexes and a standout performance from one in particular. The Nasdaq Composite clinched its best month since April 2020 and its seventh record close of the year, thanks to a rally in semiconductor stocks. Chip stocks were doing all the heavy lifting—the iShares Semiconductor ETF surged 2.4% today on signs that Big Tech is still splurging on building out AI.
(Bloomberg) -- Tesla Inc. generated more than half a billion dollars in revenue last year from selling products to two of Elon Musk’s other companies, the carmaker disclosed in an amended annual filing.Most Read from BloombergUS Seeks to Deploy Hypersonic Missile for the First Time Against IranTwo NJ Malls Separated by Just Four Miles — and Very Different FatesNorth Korea Confirms Suicide Rule for...
(Bloomberg) -- Tesla Inc. generated more than half a billion dollars in revenue last year from selling products to two of Elon Musk’s other companies, the carmaker disclosed in an amended annual filing.Most Read from BloombergUS Seeks to Deploy Hypersonic Missile for the First Time Against IranTwo NJ Malls Separated by Just Four Miles — and Very Different FatesNorth Korea Confirms Suicide Rule for Soldiers Ukraine CapturesJunior Bankers Sick of Grunt Work Build $2 Billion AI Tool to Do the JobTh
In this article .IXIC @CL.1 AAPL .AXJO Follow your favorite stocks CREATE FREE ACCOUNT Pedestrians at Pitt Street Mall in Sydney, Australia, on Thursday, July 24, 2025. Brendon Thorne | Bloomberg | Getty Images Markets in Australia and Japan were set to climb Tuesday, mirroring gains on Wall Street that saw both the S&P 500 and Nasdaq Composite reach new highs. This comes as investors took in stro...
In this article .IXIC @CL.1 AAPL .AXJO Follow your favorite stocks CREATE FREE ACCOUNT Pedestrians at Pitt Street Mall in Sydney, Australia, on Thursday, July 24, 2025. Brendon Thorne | Bloomberg | Getty Images Markets in Australia and Japan were set to climb Tuesday, mirroring gains on Wall Street that saw both the S&P 500 and Nasdaq Composite reach new highs. This comes as investors took in strong earnings from Apple and Caterpillar , looking past weaker-than-expected economic data and threats of escalation in Iran by U.S. President Donald Trump. Brent crude prices had risen to top $126 a barrel after Axios reported that the U.S. military would brief Trump on potential action against Iran. Brent closed at $110.40 a barrel, while U.S West Texas Intermediate was 0.61% up at $105.71, as of 7:46 p.m. ET. On Thursday, the U.S. Commerce Department reported that gross domestic product rose at a 2% annualized pace in the first quarter. While that was an increase from 0.5% in the fourth quarter of 2025, it was below the 2.2% consensus estimate by Wall Street economists. Most major Asian markets are closed due to the May Day holiday. Futures for Australia's S&P/ASX 200 stood at 8,795, slightly higher than its last close of 8,665.8. Japan's Nikkei 225 futures also pointed to a stronger open, with the futures contract in Chicago at 59,765 and its counterpart in Osaka at 59,720, compared with the previous close of 59,284.92. Overnight in the U.S., the S&P 500 rose 1.02% to close at a record of 7,209.01, its first close above the 7,200 threshold. The tech-heavy Nasdaq jumped 0.89%, hitting new intraday and closing records as well. The blue-chip Dow Jones Industrial Average added 1.62%. U.S. futures for all three major indexes were marginally up after the session, with S&P 500 futures advancing 0.16%, while Nasdaq 100 futures were little changed. Futures tied to the Dow Jones Industrial Average added 79 points, or about 0.2%. — CNBC's Lisa Kailai Han and Sean Conlon contributed ...
Earnings Call Insights: Blue Owl Capital Inc. (OWL) Q1 2026 Management view “We raised $57 billion of capital over the last 12 months… and $11 billion in the first quarter,” and “revenues increased by 13%, fee-related earnings by 14% and distributable earnings by 11% compared to the first quarter of 2025,” Marc S. Lipschultz (Co-Founder, Co-CEO Marc Lipschultz) said. “Direct lending represents onl...
Earnings Call Insights: Blue Owl Capital Inc. (OWL) Q1 2026 Management view “We raised $57 billion of capital over the last 12 months… and $11 billion in the first quarter,” and “revenues increased by 13%, fee-related earnings by 14% and distributable earnings by 11% compared to the first quarter of 2025,” Marc S. Lipschultz (Co-Founder, Co-CEO Marc Lipschultz) said. “Direct lending represents only 37% of Blue Owl’s AUM… real assets is now 27% of AUM and GP Strategic Capital is 22%,” Marc Lipschultz said, adding, “nearly 3/4 of equity capital we’ve raised over the last 12 months has been outside of direct lending.” “The actual impact to Blue Owl’s revenues and earnings for the first quarter was quite modest,” Marc Lipschultz said on nontraded BDC flows, citing “net outflows of roughly $170 million from OCIC and OTIC,” and adding that “these 2 funds collectively comprise less than 17% of our total AUM.” “This marks the fourth data center project above $10 billion announced in less than 18 months for which Blue Owl will play a critical role,” Marc Lipschultz said, referencing “Amazon announced a $12 billion data center campus with investment for Blue Owl’s digital infrastructure funds.” “We modestly increased our FRE margin, expanding to 58.4% for the quarter,” Alan Kirshenbaum (Chief Financial Officer Alan Kirshenbaum) said, and “AUM not yet paying fees increased to $30 billion, representing approximately $350 million of expected annual management fees once deployed.” Outlook “We remain focused on disciplined expense management,” Alan Kirshenbaum said, and “continue to see a path to achieve our goal of 58.5% FRE margins for 2026.” “We remain committed to paying out our $0.92 dividend for 2026,” Alan Kirshenbaum said. “We… continue to expect to hit our hard cap of $7.5 billion by the end of this year,” Alan Kirshenbaum said about the latest net lease flagship. Compared with last quarter’s language, Alan Kirshenbaum had said, “we believe we can see modest margin expans...
Earnings Call Insights: Riot Platforms (RIOT) Q1 2026 Management View "The first quarter of 2026 was a definitive inflection point in Riot's transition into one of the most significant and capable data center operators in the industry." (CEO & Executive Director Jason Les) "AMD officially exercised a 25-megawatt expansion option, bringing their total contracted footprint at our Rockdale facility t...
Earnings Call Insights: Riot Platforms (RIOT) Q1 2026 Management View "The first quarter of 2026 was a definitive inflection point in Riot's transition into one of the most significant and capable data center operators in the industry." (CEO & Executive Director Jason Les) "AMD officially exercised a 25-megawatt expansion option, bringing their total contracted footprint at our Rockdale facility to 50 megawatts" and "initial data center capacity for this expansion will be delivered beginning in November of this year." (CEO & Executive Director Les) "We have initiated development of our first core and shell building using our enhanced 168-megawatt standard design" and "our total planned campus capacity now stands at 756 megawatts of critical IT capacity." (CEO & Executive Director Les) "Importantly, we did not issue any common equity during the quarter." (CFO, Executive VP and Head of Corporate Development & Strategy Jason Chung) Outlook "We anticipate exiting 2026 with an annualized operating lease revenue run rate of $37.8 million, scaling to a run rate of $55.6 million as we exit 2027 and AMD's full 50-megawatt footprint comes online." (CEO & Executive Director Jason Les) "Phase 3 highlighted in blue will deliver 10 megawatts in November of 2026" and "Phase 4 highlighted in orange represents the remaining 15 megawatts for delivery in May of 2027." (CEO & Executive Director Les) "We continue to target attractive loan-to-cost ratios in the range of 80%" for "project level, non-recourse financing structures for the AMD lease." (CFO Chung) Financial Results "For the first quarter of 2026, Riot reported total revenue of $167 million" and "we recorded a GAAP net loss of $500 million, or $1.44 per diluted share and an adjusted EBITDA loss of $311 million." (CFO, Executive VP and Head of Corporate Development & Strategy Jason Chung) "This loss was driven by non-cash mark-to-market accounting adjustments on our Bitcoin holdings of $326.7 million and non-cash depreciation a...
Earnings Call Insights: Apple (AAPL) Q2 fiscal 2026 Management View "Before we get into the quarter, I wanted to take a moment to talk about the transition we recently announced." (CEO & Director Timothy Cook) "This moment for the transition is the right one for a number of reasons." "I very much look forward to stepping into the role of Executive Chairman on September 1." "Stepping into the role ...
Earnings Call Insights: Apple (AAPL) Q2 fiscal 2026 Management View "Before we get into the quarter, I wanted to take a moment to talk about the transition we recently announced." (CEO & Director Timothy Cook) "This moment for the transition is the right one for a number of reasons." "I very much look forward to stepping into the role of Executive Chairman on September 1." "Stepping into the role of CEO is an incredible honor, and it means a great deal to me to have Tim's trust and confidence." (Senior Vice President of Hardware Engineering John Ternus) "Kevan and I intend to continue" the "thoughtfulness, deliberateness and discipline" in financial decision-making when he transitions into the role in September. "Today, Apple is proud to report $111.2 billion in revenue, up 17% from a year ago and a March quarter record, which was above the high end of our guidance range despite supply constraints." (CEO Cook) "Services reached an all-time revenue record" and "EPS set a March quarter record of $2.01." "Our installed base of over 2.5 billion active devices has reached another all-time high across all major product categories and geographic segments." (Senior VP & CFO Kevan Parekh) "Company gross margin was 49.3%, above the high end of our guidance range and up 110 basis points sequentially." Outlook "We expect our June quarter total company revenue to grow by 14% to 17% year-over-year, which comprehends our best view of constraint supply." (CFO Parekh) "We expect gross margin to be between 47.5% and 48.5%." "We expect operating expenses to be between $18.8 billion and $19.1 billion." "For Mac, in the June quarter, there's 2 factors that are driving the constraints." (CEO Cook) "The customer recognition" of Mac Mini and Mac Studio as "amazing platforms for AI and Agentic tools" is "happening faster than what we had predicted" and "the customer response to Mac Neo has just been off the charts." "Beyond the June quarter, we believe memory costs will drive an increasing ...