Shares of Chipotle Mexican Grill (NYSE: CMG) gained on Thursday after the burrito baron said sales at its restaurants were back on the uptrend. Image source: The Motley Fool. Chipotle's revenue rose 7.4% year over year to $3.1 billion in the first quarter. Continue reading
Shares of Chipotle Mexican Grill (NYSE: CMG) gained on Thursday after the burrito baron said sales at its restaurants were back on the uptrend. Image source: The Motley Fool. Chipotle's revenue rose 7.4% year over year to $3.1 billion in the first quarter. Continue reading
Earnings Call Insights: Granite Construction Incorporated (GVA) Q1 2026 Management View “We recently announced the acquisition of Kenny Seng Construction.” (President, CEO & Director Kyle Larkin) “We expect Kenny Seng Construction to add approximately $150 million in revenue annually with an accretive adjusted EBITDA margin in the high teens.” “We ended the quarter with CAP of $7.2 billion, a $200...
Earnings Call Insights: Granite Construction Incorporated (GVA) Q1 2026 Management View “We recently announced the acquisition of Kenny Seng Construction.” (President, CEO & Director Kyle Larkin) “We expect Kenny Seng Construction to add approximately $150 million in revenue annually with an accretive adjusted EBITDA margin in the high teens.” “We ended the quarter with CAP of $7.2 billion, a $200 million increase from the fourth quarter.” (President, CEO & Director Larkin) “CAP increased despite a reduction of approximately $300 million related to the cancellation of a public sector highway project in California, where expanded scope exceeded available funding.” “I believe that our federal business is positioned to generate more than 15% of our Construction segment revenue as we continue to grow this part of our business.” (President, CEO & Director Larkin) “Second, we are seeing growing opportunities in mission-critical data center projects.” “Revenue increased 30% to $912 million.” (Executive VP & CFO Staci Woolsey) “Adjusted net income increased by $12 million to end at $12 million and adjusted EBITDA increased by $30 million to arrive at $58 million.” Outlook “We are increasing our revenue guidance to a range of $5.2 billion to $5.4 billion from a range of $4.9 billion to $5.1 billion.” (Executive VP & CFO Woolsey) “This increase reflects an additional $200 million of revenue from our new tactical infrastructure contract and $100 million in revenue from Kenny Seng Construction.” “We are decreasing our SG&A as a percent of revenue guidance to a range of 8.25% to 8.75%, down from a range of 8.5% to 9%, inclusive of approximately $48 million in stock-based compensation expense.” (Executive VP & CFO Woolsey) “We are also increasing our adjusted EBITDA margin guidance to a range of 12.25% to 13.25%, up from 12% to 13%.” (Executive VP & CFO Woolsey) “Finally, our CapEx guidance of $140 million to $160 million and our estimated adjusted effective tax rate in the mid-2...
Advice charity also helping thousands of tenants before Renters’ Rights Act comes into force on Friday Solicitors say they have been inundated with requests to serve last-minute section 21 no-fault eviction notices before they are banned when the Renters’ Rights Act comes into force in England on Friday. The legislation, which has been hailed as the biggest change to renting in a generation, bans ...
Advice charity also helping thousands of tenants before Renters’ Rights Act comes into force on Friday Solicitors say they have been inundated with requests to serve last-minute section 21 no-fault eviction notices before they are banned when the Renters’ Rights Act comes into force in England on Friday. The legislation, which has been hailed as the biggest change to renting in a generation, bans no-fault evictions, limits rent increases and abolishes fixed-term tenancies. Continue reading...
Exchange Bank press release ( EXSR ): For the quarter ending March 31, 2026, the Bank had net income after taxes of $7.51 million compared with net income of $5.61 million in 2025. The Bank’s net interest income, which is the result of the Bank’s gross interest income net of interest expense, increased from $20.91 million during the first quarter of 2025, to $24.43 million for the first quarter of...
Exchange Bank press release ( EXSR ): For the quarter ending March 31, 2026, the Bank had net income after taxes of $7.51 million compared with net income of $5.61 million in 2025. The Bank’s net interest income, which is the result of the Bank’s gross interest income net of interest expense, increased from $20.91 million during the first quarter of 2025, to $24.43 million for the first quarter of 2026, an increase of 16.84%. A component of this related to an increase in interest income year over year by $2.25 million primarily due to an increase in interest and fees on loans of $2.44 million offset by a decrease in interest from investment securities of $0.19 million. Total interest expense has decreased by $1.27 million. In the first quarter of 2026, total funding costs are made up of interest paid to depositors of $8.04 million and $0.40 million paid on borrowings. Non-interest income for the quarter ended March 31, 2026 was $6.33 million, consistent with the first quarter of 2025. Non-interest expense remained relatively constant, increasing by 4.27% from the first quarter of 2025 to $20.63 million for the quarter ended March 31, 2026 compared to $19.78 million in the first quarter of 2025. More on Exchange Bank Dividend scorecard for Exchange Bank Financial information for Exchange Bank
The Schwab U.S. Dividend Equity ETF (NYSEMKT: SCHD) has rebounded from an ugly 2023-2025 stretch to once again become one of the best-performing dividend ETFs in the marketplace. Its lack of tech exposure during the AI boom caused it to meaningfully underperform the S&P 500 . But as the market rotated away from tech in 2026, the fund's more defensive, value-oriented strategy made a huge comeback. ...
The Schwab U.S. Dividend Equity ETF (NYSEMKT: SCHD) has rebounded from an ugly 2023-2025 stretch to once again become one of the best-performing dividend ETFs in the marketplace. Its lack of tech exposure during the AI boom caused it to meaningfully underperform the S&P 500 . But as the market rotated away from tech in 2026, the fund's more defensive, value-oriented strategy made a huge comeback. In April, tech stocks soared again, leaving the fund a laggard once more. The remainder of 2026 will likely feature a slate of catalysts, such as the Iran war, inflation, and corporate earnings, that could swing market leadership back and forth several times before all is said and done. Does that mean now is the time to buy the Schwab U.S. Dividend Equity ETF , or not? Continue reading
Goldman Maps Retailer Exposure To Working-Poor Consumers As Gas Soars With the nationwide average gasoline price accelerating above the politically sensitive $4-per-gallon level, and the consumer backdrop for low-income households darkening, Goldman analysts published a note on Wednesday identifying which big-box retailers have the greatest exposure to working-poor households. "Our economists expe...
Goldman Maps Retailer Exposure To Working-Poor Consumers As Gas Soars With the nationwide average gasoline price accelerating above the politically sensitive $4-per-gallon level, and the consumer backdrop for low-income households darkening, Goldman analysts published a note on Wednesday identifying which big-box retailers have the greatest exposure to working-poor households. "Our economists expect spending headwinds from higher inflation to weigh on growth for the rest of the year," Goldman Sachs Managing Director Kate McShane wrote in the note. She covered how Goldman analysts raised their Brent forecast for the fourth quarter of this year and the gloomy backdrop facing consumers . She continued, "Moreover, higher headline inflation is set to erode household spending power, particularly among lower-income households that spend roughly four times as much on gasoline as a share of after-tax income compared to the top quintile." She explained in more detail: We expect the bottom-income quintile to lag the aggregate US household with +4.2% DPI growth in 2026 (vs. +4.7% aggregate) as our economists continue to expect tepid job growth. Cuts to Medicaid and SNAP benefits, and now greater exposure to the increase in gasoline prices are cost headwinds to this income cohort. Our pre-savings DCF expectations for the bottom quintile remain unchanged at +0.8% for 2026, well below the +3.7% aggregate growth rate. Higher energy prices do drive a headwind to our Consumer Discretionary Cash Flow model, and accordingly we estimate that a $10/barrel change in fuel prices equates to a ~18bps impact to consumer spending power, all else equal. The magnitude of the recent, rapid change in fuel prices may drive a ~88bps headwind for consumer discretionary spending power in FY26, if higher fuel prices hold (~$120/barrel). Taking this one step further, we use the breakdown of consumer income cohorts to estimate the impact across the income-quintiles assessed in our 2026 Consumer Outlook, ...
Blue Owl Capital (NYSE:OWL), an alternative asset manager and private credit firm, closed Thursday at $9.75, up 9.80%. The stock jumped after its Q1 2026 results topped expectations and went some way to easing private credit jitters.
Blue Owl Capital (NYSE:OWL), an alternative asset manager and private credit firm, closed Thursday at $9.75, up 9.80%. The stock jumped after its Q1 2026 results topped expectations and went some way to easing private credit jitters.
PM Images/DigitalVision via Getty Images The ProShares UltraPro Short Dow30 ETF ( SDOW ) is a leveraged bear ETF on the Dow Jones Industrial Average Index. It may be used by traders to make profits in market downturns and by investors to hedge a stock portfolio. SDOW has $192 million of AUM (assets under management) and an average daily dollar volume of $215 million. It means 112% of AUM changes h...
PM Images/DigitalVision via Getty Images The ProShares UltraPro Short Dow30 ETF ( SDOW ) is a leveraged bear ETF on the Dow Jones Industrial Average Index. It may be used by traders to make profits in market downturns and by investors to hedge a stock portfolio. SDOW has $192 million of AUM (assets under management) and an average daily dollar volume of $215 million. It means 112% of AUM changes hands on average in a trading day, pointing to the fund’s intensive use by short-term traders. Its daily -3X factor is a source of drift, a topic that I will cover in this article. Why leveraged ETFs drift Leveraged ETFs often underperform their underlying index leveraged by the same factor. ETF decay may have four reasons: beta-slippage, roll yield, tracking errors, and management costs. Beta-slippage is the main reason in equity leveraged ETFs such as SDOW. To understand it, imagine a very volatile asset that goes up 25% one day and down 20% the day after. A perfect 2X leveraged ETF goes up 50% the first day and down 40% the second day. At the close of the second day, the underlying asset is back to its initial price: (1 + 0.25) x (1 - 0.2) = 1 In the same time, the perfect 2X ETF has lost 10%: (1 + 0.5) x (1 - 0.4) = 0.9 It is just the result of compounding leveraged returns. In a trending market, beta-slippage can be positive. If the underlying index goes up 10% two days in a row, on the second day, it is up 21%… (1 + 0.1) x (1 + 0.1) = 1.21 …while the perfect 2X leveraged ETF is up 44%: (1 + 0.2) x (1 + 0.2) = 1.44 Beta-slippage is path-dependent. If the underlying index gains 50% on day 1 and loses 33.33% on day 2, it is back to its initial value, like in the first example. However, the 2X ETF loses one-third of its value instead of 10% in the first case: (1 + 1) x (1 - 0.6667) = 0.6667 Without a demonstration, it shows that the higher the volatility, the larger the decay. Moreover, the higher the leverage factor, the larger the decay. If we come back to the first exam...
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, please sign up . When Bombardier’s CEO took on the role in 2020, the private jet maker was “ dismembering ” itself in a bid to avoid bankruptcy. No wonder Eric Martel takes pride in how he’s managed the firm’s balance sheet since. “Our debt is meltin...
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, please sign up . When Bombardier’s CEO took on the role in 2020, the private jet maker was “ dismembering ” itself in a bid to avoid bankruptcy. No wonder Eric Martel takes pride in how he’s managed the firm’s balance sheet since. “Our debt is melting away ,” he told journalists after reporting the firm’s first quarter results today. Bombardier’s net leverage was 41.5 times in 2020. Now it’s less than two times. The path from iceberg to ice cube wasn’t easy. The Montreal-based company had to offload assets such as its commercial jet and train divisions to stay afloat. Then it staked everything on large-cabin private jets, just as the ultra-wealthy discovered the luxury of flying private while commercial flights were grounded during the Covid-19 pandemic. It worked. Bombardier shares are up 2,585% since Martel became CEO, far outpacing the S&P/TSX Composite’s 164% gain over the same period. The jet maker’s market capitalization is back to levels not seen since 2001, when it was still deflating from the dot-com bubble. After releasing strong earnings and raising its cash-flow guidance, Bombardier’s stock was the biggest mover on the TSX on Thursday, closing up 21%. Shareholders aren’t the only ones with faith. Some customers must now wait up to three years before boarding their new Bombardier jets. Its order backlog was $20.3 billion at the end of March, up 16% from a year ago, thanks to huge orders from private jet operators. “It’s not the situation where people were showing up at the door, and we had an airplane ready the next day,” Martel said. “Those days are over.” Also in this newsletter: The Thomson family is getting a lot of money . The Vancouver Whitecaps are losing a lot of money . Berkshire Hathaway’s first annual meeting without Buffett as CEO. The following was produced with the assistance of Bloomberg Autom...
Roblox's daily active users continued to slip last quarter due in part to its rollout of age checks on its platform. According to its latest earnings report , Roblox currently has 132 million daily active users globally, down from 144 million at the end of last year, which was a drop from 152 million in Q3 2025. In the US and Canada, the number of active users dropped by one million from the previ...
Roblox's daily active users continued to slip last quarter due in part to its rollout of age checks on its platform. According to its latest earnings report , Roblox currently has 132 million daily active users globally, down from 144 million at the end of last year, which was a drop from 152 million in Q3 2025. In the US and Canada, the number of active users dropped by one million from the previous quarter, while Roblox's revenue still grew to $1.4 billion. Roblox says Q1 growth was "tempered by greater-than-expected headwinds" due to the rollout of its age-check features , which "slowed new user acquisition." Russia's December 2025 ban on … Read the full story at The Verge.