Ángel Mateos González due to play for CD Colunga, making him oldest player to take part in official match At an age when many veteran footballers might prefer to be regaling grandchildren, friends and assorted barflies with slightly embroidered tales of their former sporting prowess, 70-year-old Ángel Mateos González is heading back on to the pitch. The Spaniard, who retired from competitive footb...
Ángel Mateos González due to play for CD Colunga, making him oldest player to take part in official match At an age when many veteran footballers might prefer to be regaling grandchildren, friends and assorted barflies with slightly embroidered tales of their former sporting prowess, 70-year-old Ángel Mateos González is heading back on to the pitch. The Spaniard, who retired from competitive football 27 years ago, is due to play in goal for the Asturian team CD Colunga in a fifth-tier match this Sunday. If all goes to plan and he pulls on his gloves, he will reportedly become the oldest player to take part in an official match in Spain. Continue reading...
coffeekai/iStock via Getty Images Yesterday, the United Arab Emirates (UAE) shocked the world by announcing its exit from OPEC after 59 years. At first glance, the timing in which this historic event happened leads us to believe it is related to the current war in the Middle East. After all, Iran is a member of OPEC - one of the founders, to be precise - and blocking the Strait of Hormuz and bombi...
coffeekai/iStock via Getty Images Yesterday, the United Arab Emirates (UAE) shocked the world by announcing its exit from OPEC after 59 years. At first glance, the timing in which this historic event happened leads us to believe it is related to the current war in the Middle East. After all, Iran is a member of OPEC - one of the founders, to be precise - and blocking the Strait of Hormuz and bombing GCC doesn’t conform to the behavior of an ally. However, as I'll show you, the UAE had multiple reasons to leave OPEC way before the US-Iran war started, which is why the UAE's decision is not totally unexpected. In this article I’ll shed some light on what is currently happening and what it means for us investors. This announcement led the WTI price to break the $100 threshold, and at the time of writing, it is heading to $105 per barrel. So, is the UAE exit a positive or a negative catalyst for oil prices? The Reason Why The UAE Left OPEC To understand the potential future consequences of this choice, we first need to assess why Abu Dhabi joined OPEC back in 1967 (the UAE as a unified country was born in 1971). In those years, the oil industry was dominated by the Western Seven Sisters, and Abu Dhabi was a relatively new player on the stage; in fact, its first oil exports date back to 1962. Even though Abu Dhabi had an enormous potential in terms of oil production, the lack of experience and close allies would have prevented its ascent. The Seven Sisters could have just increased the oil output, bringing the oil prices down and leaving Abu Dhabi with no profits from selling oil. That was an unfair advantage, and this is why OPEC was born (1960) in the first place: trying to counter the Seven Sisters and stabilizing the supply of oil. By itself, the UAE couldn’t have had a significant influence on the global oil industry, but combined with other members, it was able to experience an economic miracle. Over the decades, OPEC has influenced oil prices in order to favor the...
primeimages/E+ via Getty Images Performance 1 Total Returns (%) Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns 3 Months YTD 1 Year 3 Years 5 Years 10 Years 20 Years Balanced Fund — Class I -0.38 -0.38 8.78 11.30 7.29 9.65 7.52 Balanced Fund — Class X -0.36 -0.36 8.85 11.39 7.37 9.70 7.54 Combined Inde...
primeimages/E+ via Getty Images Performance 1 Total Returns (%) Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns Average Annual Total Returns 3 Months YTD 1 Year 3 Years 5 Years 10 Years 20 Years Balanced Fund — Class I -0.38 -0.38 8.78 11.30 7.29 9.65 7.52 Balanced Fund — Class X -0.36 -0.36 8.85 11.39 7.37 9.70 7.54 Combined Index -2.62 -2.62 12.35 12.36 7.41 9.26 7.86 Click to enlarge Returns represent past performance and do not guarantee future results. Investment return and share price will fluctuate with market conditions, and investors may have a gain or loss when shares are sold. Mutual Fund performance changes over time and currently may be significantly lower than stated above. Performance is updated and published monthly. Current month-end performance can be obtained at dodgeandcox.com or by calling 800-621-3979. Market Commentary Markets entered 2026 carrying momentum from late 2025, but escalating conflict in Iran quickly complicated the outlook and drove volatility higher. Surging oil prices stoked inflation concerns and weighed on investor sentiment. The U.S. economy showed signs of softening as payroll growth slowed and the unemployment rate hovered around 4.4%. Inflation remained above the Federal Reserve's 2% target, and the Fed held short-term rates steady at both of its first quarter meetings—a pause following three consecutive cuts in late 2025. Rising commodity prices have further dampened expectations for near-term rate cuts. The S&P 500 Index fell 4.3%—its worst quarterly return in over three years. Higher oil prices and shifting rate expectations hit growth-oriented technology stocks particularly hard, including many leading AI companies. As investors shifted out of growth stocks, the valuation gap between value and growth stocks narrowed. However, market concentration remains high, as the ten largest S&P 500 constituents still represent approximately 40% of the Index's tota...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting ...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting with us, check out the Odd Lots Discord , where you can hang out and talk with us and with other listeners 24/7. What Joe is thinking about today At this point, it doesn’t seem like there’s much alpha in simply going to ChatGPT or Claude and asking, “What stocks should I buy?” Someone once explained to me why LLMs would never be good at this task, but I don’t remember the explanation he gave. Furthermore, if there are human beings who are good at selecting stocks, and if an AI can reason like a human does, with access to all the same data, then I would assume that a stock picking robot should be possible at some point. But if lots of people have access to the same stock picking robot, the alpha might disappear quickly, and the only entity that is making any money is the company selling the chips. This is all just a thought experiment, of course. (We have thought experiments galore in the realm of AI; there have been AI-related thought experiments for decades.) That said, there’s a new, actual real experiment out now that poses a different question: Can an LLM predict the past? The LLM is called Talkie , and what’s key is that its only training data is pre-1931 text. There’s no reams of Reddit convos or all that other stuff that’s been fed into the most advanced models. That means, in theory, one can test its ability to predict events that transpired in the 20th century. The project isn’t finished yet, and the creators Nick Levine, Alec Radford, and David Duvenaud are still working on supplying Talkie with sufficient material to work with, given there’s much less digitized t...
Olemedia/E+ via Getty Images Written by Sam Kovacs Introduction It's been a curious first 4 months in 2026. Quite a few things have happened that I just didn't have on my bingo card, including Brent trading at $111, up 76% year over year. On March 6th I said: Imagine it's April 2026. Hormuz would have been closed for 6 weeks. The Islamic Revolutionary Guard Corps (IRGC) would have been operating a...
Olemedia/E+ via Getty Images Written by Sam Kovacs Introduction It's been a curious first 4 months in 2026. Quite a few things have happened that I just didn't have on my bingo card, including Brent trading at $111, up 76% year over year. On March 6th I said: Imagine it's April 2026. Hormuz would have been closed for 6 weeks. The Islamic Revolutionary Guard Corps (IRGC) would have been operating autonomously under a newly appointed Supreme Leader Mojtaba Khameini. The shipping lanes in the Strait of Hormuz would have been seeded with hundreds of mines. The US' three untested LCS ships serve as minesweepers, after pulling out its Avenger ships from the region in January 2026. Lloyd's would have cancelled coverage of war risk in the entire Persian Gulf. China, India, Korea, and Japan would be panic-buying every Atlantic basin cargo available. All of OPEC's spare capacity would be stranded by the Hormuz chokepoint. That scenario didn't play out quite as I suggested, but the broad strikes seem aligned with the situation we are now in. April has come and gone, and Hormuz has been functionally closed for more than 9 weeks. There is consensus that this is the "largest supply shock on record." The UAE has announced it is leaving OPEC, wanting more flexibility to increase production when the Strait eventually reopens. The US and Iran remain for now in a stalemate where neither side is willing to make concessions. Yet the S&P 500 had hit ATHs on Monday, as the market is now starting to shrug off the war. The market is positioning as if this was just a temporary 2022. In the meantime, the last tankers to have left from Hormuz before the conflict have arrived at ports around 10 days ago . Yet amid all this confusion, the Dividend Freedom Tribe's High Yield Portfolio has been delivering solid returns, crushing the index YTD. While the S&P 500 has increased 4.63% YTD including dividends, Our High Yield portfolio is up 9.86%. DFT High Yield vs. SPY (Dividend Freedom Tribe) In this...
British player wins 13-10 in gripping quarter-final World No 4 latest to succumb to ‘curse of the Crucible’ Defending champion Zhao Xintong was knocked out of the world snooker championship on Wednesday following a 13-10 quarter-final defeat by Shaun Murphy. Zhao, 29, was the first Chinese player to be crowned world champion when he beat three-time winner Mark Williams 18-12 in last year’s final. ...
British player wins 13-10 in gripping quarter-final World No 4 latest to succumb to ‘curse of the Crucible’ Defending champion Zhao Xintong was knocked out of the world snooker championship on Wednesday following a 13-10 quarter-final defeat by Shaun Murphy. Zhao, 29, was the first Chinese player to be crowned world champion when he beat three-time winner Mark Williams 18-12 in last year’s final. Continue reading...
While Unai Emery’s side are hoping to right past wrongs, their opponents are a serious threat under Vítor Pereira It is eight years since Aston Villa and Nottingham Forest played out a Championship classic, a topsy-turvy 5-5 draw at Villa Park in which Tammy Abraham got four goals. John McGinn was also in the Villa side and Matty Cash scored to earn Forest a 3-2 lead with 22 minutes on the clock, ...
While Unai Emery’s side are hoping to right past wrongs, their opponents are a serious threat under Vítor Pereira It is eight years since Aston Villa and Nottingham Forest played out a Championship classic, a topsy-turvy 5-5 draw at Villa Park in which Tammy Abraham got four goals. John McGinn was also in the Villa side and Matty Cash scored to earn Forest a 3-2 lead with 22 minutes on the clock, before more drama ensued. Forest were reduced to 10 men but Lewis Grabban, who played for Villa the previous season, struck the final goal to earn a point. It is the first top-flight meeting between the teams this millennium, however, that goes some way to telling the story of these sides, particularly Villa’s stealth. It was three and a half years ago, a couple of weeks before Unai Emery took the reins at Villa, and a glance at the teamsheet speaks volumes for the stability that has underpinned his success. Eight of Villa’s starting XI for that 1-1 draw could start against Forest on Thursday, when the Midlands clubs meet at the City Ground for the first instalment of an enticing all-Premier League Europa League semi-final. While there have been plenty of all-English finals, it is the first major European semi-final between English sides since Manchester United overcame Arsenal in the Champions League in 2009. Continue reading...
Earnings Call Insights: PPG Industries (PPG) Q1 2026 Management View "I am pleased to report that PPG delivered solid performance in the first quarter, demonstrating our ability to maintain growth momentum in a challenging macro environment, led by our differentiated aerospace and PPG Comex businesses," said (CEO & Chairman Timothy Knavish). "We achieved organic sales growth of positive 1%," and "...
Earnings Call Insights: PPG Industries (PPG) Q1 2026 Management View "I am pleased to report that PPG delivered solid performance in the first quarter, demonstrating our ability to maintain growth momentum in a challenging macro environment, led by our differentiated aerospace and PPG Comex businesses," said (CEO & Chairman Timothy Knavish). "We achieved organic sales growth of positive 1%," and "First quarter net sales totaled $3.9 billion" with "adjusted earnings per share of $1.83" and "Our segment EBITDA margin was over 19%," said (CEO & Chairman Knavish). "With the impact of the Iran war, costs have risen for raw materials, energy, logistics and packaging across the coatings value chain," and "the impact of PPG is expected to be a mid-single-digit percentage in the cost of goods sold for the remainder of the year," said (CEO & Chairman Knavish). He added, "We expect to fully offset these costs, and we are proactively raising prices to secure raw materials for our customers." "We are reaffirming our full year 2026 EPS guidance range of $7.70 to $8.10," said (CEO & Chairman Knavish). He also highlighted capital returns and liquidity: "We ended the quarter with cash and short-term investments of about $1.6 billion" and "returned approximately $260 million to shareholders through dividends and share repurchases." "Our backlog remains at about $315 million" in aerospace, said (CEO & Chairman Knavish), while also noting capacity investments: "Round numbers over the last year or so, we've put about $150 million into those kind of investments" and "we announced a new plant to the tune of about $380 million." "The currency impact for Q1 was less than $0.10 year-over-year positive," said (Senior VP & CFO Vincent Morales), adding, "If you look at the balance of the year, so the remaining 3 quarters, the total is going to be less than half of that and most of that in Q2." "I would like to congratulate Vince on his upcoming retirement on this, his final PPG earnings call," ...
Earnings Call Insights: PROG Holdings (PRG) Q1 2026 Management View "We delivered a strong first quarter" and "our results came in at the high end of our revenue outlook and exceeded the top end of our outlook for earnings and non-GAAP EPS," driven by "higher-than-expected GMV with improved economics at Four" and "better portfolio yield at Progressive Leasing" from "lower-than-expected utilization...
Earnings Call Insights: PROG Holdings (PRG) Q1 2026 Management View "We delivered a strong first quarter" and "our results came in at the high end of our revenue outlook and exceeded the top end of our outlook for earnings and non-GAAP EPS," driven by "higher-than-expected GMV with improved economics at Four" and "better portfolio yield at Progressive Leasing" from "lower-than-expected utilization of 90-day purchase options" (CEO, President & Director Steven Michaels). "Consolidated GMV, which grew 54% in Q1" was highlighted as the company "begun framing growth through the lens of consolidated GMV" as leasing, Four, and Purchasing Power contribute to platform scale (CEO, President & Director Michaels). Leasing trends were described as improving through the quarter: "January down high single digits, February down low single digits and March up low single digits" year-over-year, with Michaels saying the company was "excited to exit the quarter on a growth trajectory." Four was positioned as both a growth and profitability driver: "Four's GMV for the quarter was 134% higher year-over-year" and "we are seeing that growth translate into attractive economics and profitability" (CEO, President & Director Michaels). Purchasing Power integration and growth were emphasized: "Purchasing Power's Q1 GMV grew double digits at 10.3%" and the company "added several new employer clients during the quarter, bringing tens of thousands of new eligible employees onto the platform" (CEO, President & Director Michaels). "Our revised consolidated outlook for continuing operations for 2026 calls for revenues in the range of $3 billion to $3.1 billion, adjusted EBITDA in the range of $343 million to $370 million and non-GAAP EPS in the range of $4.40 to $4.80" (Chief Financial Officer Brian Garner). Outlook "Our revised consolidated outlook for 2026 raises expectations on both the revenue and earnings from continuing operations" and is based on assumptions including "no meaningful increase i...
alexsl Multiple Wall Street analysts upgraded Centene ( CNC ) to buy-equivalent ratings, citing its margin outlook after the health insurer posted better-than-expected financials for Q1 2026 and lifted its full-year outlook on Tuesday. Bank of America raised its recommendation on the Saint Louis, Missouri-based managed care firm to Buy from Underperform and hiked its price target to $60 from $34 p...
alexsl Multiple Wall Street analysts upgraded Centene ( CNC ) to buy-equivalent ratings, citing its margin outlook after the health insurer posted better-than-expected financials for Q1 2026 and lifted its full-year outlook on Tuesday. Bank of America raised its recommendation on the Saint Louis, Missouri-based managed care firm to Buy from Underperform and hiked its price target to $60 from $34 per share, attributing the double upgrade to an improved outlook for the company’s margins. “The dramatic changes in Medicaid enrollment since 2023 have created negative risk pool shifts, making it difficult for states to forecast costs and trend, resulting in margin pressure for the industry,” analyst Kevin Fischbeck wrote. However, he projects Centene’s ( CNC ) margins to bottom out this year and calls the company’s return to target margins “being more a matter of time and math, as state data slowly catch up to trend/risk pool shifts in 2024/25.” Meanwhile, Cantor Fitzgerald upgraded the Medicaid-driven insurer to Overweight from Neutral and raised its 12-month price target to $60 from $41. Analyst Sarah James cites an attractive entry point to own the stock, arguing that her base-case scenario suggests a ~90% upside over two years. “The path to margin improvement has become incrementally clear to us from 2026 guidance of 3% margins in Marketplace, slightly positive in Medicaid, below break-even in MA, and 2% in Part D,” the analyst added. More on Centene Centene: Big Comeback Story Centene Corporation (CNC) Q1 2026 Earnings Call Transcript Centene's Earnings Reset Opens The Door To A Re-Rating (Upgrade) Centene raises 2026 adjusted EPS outlook to greater than $3.40 as it embeds around 3% Marketplace pretax margin Centene raises outlook as declining medical costs drive Q1 beat
Dividend stocks are the foundation of a great portfolio. They provide stability and reliable passive income, protecting your portfolio while other funds do the heavy growth work. If you own a group of excellent dividend stocks that can withstand market volatility, you'll be less likely to panic when it happens. Walmart (NASDAQ: WMT) , Realty Income (NYSE: O) , and Home Depot (NYSE: HD) are three e...
Dividend stocks are the foundation of a great portfolio. They provide stability and reliable passive income, protecting your portfolio while other funds do the heavy growth work. If you own a group of excellent dividend stocks that can withstand market volatility, you'll be less likely to panic when it happens. Walmart (NASDAQ: WMT) , Realty Income (NYSE: O) , and Home Depot (NYSE: HD) are three excellent candidates. Image source: Getty Images. Continue reading
People don't always admit it, but the comparison happens anyway. Maybe it's subtle, maybe it's curiosity, maybe it's just wondering how things stack up. Not in a competitive way — more like a quiet check-in. Money tends to turn that...
People don't always admit it, but the comparison happens anyway. Maybe it's subtle, maybe it's curiosity, maybe it's just wondering how things stack up. Not in a competitive way — more like a quiet check-in. Money tends to turn that...
In the latest installment of Yahoo Finance's ETF Report, Julie Hyman is joined by BlackRock Head of iShares Investment Strategy, Americas, Kristy Akullian, for a conversation about the themes she will be paying close attention to in Big Tech earnings results, the Federal Reserve's economic outlook, and how to diversify as AI drives most of the market (^DJI, ^IXIC, ^GSPC). Magnificent Seven compone...
In the latest installment of Yahoo Finance's ETF Report, Julie Hyman is joined by BlackRock Head of iShares Investment Strategy, Americas, Kristy Akullian, for a conversation about the themes she will be paying close attention to in Big Tech earnings results, the Federal Reserve's economic outlook, and how to diversify as AI drives most of the market (^DJI, ^IXIC, ^GSPC). Magnificent Seven components Alphabet (GOOG, GOOGL), Amazon (AMZN), Meta Platforms (META), and Microsoft (MSFT) are all reporting after Wednesday's closing bell, followed by Apple (AAPL) on Thursday.
NanoStockk/iStock via Getty Images By Zeno Mercer Most robotics coverage in the media focuses on the headliners. The humanoid unveils the next big deployment announcement. While we do cover these newer and “hot” technologies in-depth, it’s important to remember that the majority of innovation and deployment in physical automation continues to happen on the factory floor. Below, we highlight six co...
NanoStockk/iStock via Getty Images By Zeno Mercer Most robotics coverage in the media focuses on the headliners. The humanoid unveils the next big deployment announcement. While we do cover these newer and “hot” technologies in-depth, it’s important to remember that the majority of innovation and deployment in physical automation continues to happen on the factory floor. Below, we highlight six companies in the ROBO Global Robotics and Automation Index (ROBO) that showcase a different side of the robotics story than you often hear in the news. Some have reported recently. Others are reporting soon. Taken together, they span the entire globe and are involved in almost every product you use. These are not companies you normally see trending on X. FANUC Corporation ( FANUY ) (6954.T) If you want to understand industrial robotics, start with FANUC. Founded in 1956 as part of Fujitsu and spun out as an independent company in 1972, FANUC is the company that automated the machines that make the machines. It commands the top global market share in CNC (computerized numerical control) systems and industrial robots, and its yellow machines are embedded in manufacturing facilities across automotive, aerospace, electronics, and more. In August 2023, it became the first industrial robot manufacturer to ship a cumulative one million robots. Today, with over a million units running on factory floors across more than 100 countries, FANUC’s record FY2025 results provide a clear blueprint of where industrial automation capital is flowing. In its fiscal year ending March 2026, FANUC posted record net sales of JPY 857 billion, up 8% year over year, with operating margin improving 150 basis points to 21.4%. For fiscal 2026, management guided 6% further sales growth and margin expansion to 23.3%. The drivers: strong factory automation demand in China and the Americas and continued investment from customers navigating persistent labor shortages. FANUC’s tariff commentary is notable. After...
F I P P Société Anonyme au capital de 15 000 000 € 55, rue Pierre Charron – 75008 PARIS 542 047 212 RCS PARIS Tél : 01 56 52 45 00 – Fax : 01 53 23 10 11
F I P P Société Anonyme au capital de 15 000 000 € 55, rue Pierre Charron – 75008 PARIS 542 047 212 RCS PARIS Tél : 01 56 52 45 00 – Fax : 01 53 23 10 11