The market has been buzzing about electric vertical takeoff and landing (eVTOL) vehicles for years now, though the two public companies in the space, Archer Aviation and Joby Aviation (NYSE: JOBY), are still development-stage companies with essentially no revenue. However, Joby took a significant step forward just days ago when it successfully performed its first test flights from Manhattan to JFK...
The market has been buzzing about electric vertical takeoff and landing (eVTOL) vehicles for years now, though the two public companies in the space, Archer Aviation and Joby Aviation (NYSE: JOBY), are still development-stage companies with essentially no revenue. However, Joby took a significant step forward just days ago when it successfully performed its first test flights from Manhattan to JFK Airport. Joby stock rose on the news as the event offered both proof-of-concept of its commuter flights and served as a marketing vehicle, earning it coverage in a number of news outlets. Continue reading
Earnings Call Insights: Booking Holdings (BKNG) Q1 2026 Management View "We began 2026 with solid execution across our global business" while noting "the impact the Middle East conflict is having on travel," according to President, CEO & Director Glenn Fogel. Fogel said the company "booked 338 million room nights" (+6% year-over-year) and estimated the conflict "impacted our room night and gross b...
Earnings Call Insights: Booking Holdings (BKNG) Q1 2026 Management View "We began 2026 with solid execution across our global business" while noting "the impact the Middle East conflict is having on travel," according to President, CEO & Director Glenn Fogel. Fogel said the company "booked 338 million room nights" (+6% year-over-year) and estimated the conflict "impacted our room night and gross bookings growth by approximately 2 percentage points." Fogel highlighted capital returns and said "our confidence in these initiatives and our future growth profile is reflected" in buybacks, including "the record $3.6 billion in share repurchases we completed in the first quarter." On growth priorities, Fogel said U.S. momentum continued: "our U.S. room night growth accelerated for the fourth consecutive quarter to the low teens," and he also emphasized Asia execution and the Connected Trip strategy, noting connected transactions grew "in the high teens range" and represented "a low double-digit percentage of Booking.com's total transactions." Executive VP & CFO Ewout Steenbergen said the conflict drove "elevated cancellations and a moderation in new bookings in March" and estimated it impacted "our room night growth by about 2 percentage points." He also said adjusted fixed operating expenses were a leverage source and reiterated transformation savings: "We remain firmly on track to deliver our previously stated goal of $500 million to $550 million of in-year savings from our transformation program for 2026." Outlook Steenbergen guided Q2 growth ranges of "between 2% and 4%" for room nights and "between 4% and 6%" for gross bookings, revenue, and adjusted EBITDA, assuming the conflict continues "through the end of June" and citing FX assumptions "including the euro-U.S. dollar exchange rate at $1.16." For full-year 2026, Steenbergen said the company is "lowering our guidance ranges at the midpoint" under an assumption the Middle East impact lasts through June and is follow...
Earnings Call Insights: Seagate Technology (STX) Q3 fiscal 2026 Management View “Seagate delivered a very strong March quarter,” and “we generated one of our highest ever levels of free cash flow at close to $1 billion,” said CEO William Mosley, framing the quarter as evidence of “the durability of demand and the leverage in our model.” Mosley said “momentum continues to build for our Mozaic HAMR-...
Earnings Call Insights: Seagate Technology (STX) Q3 fiscal 2026 Management View “Seagate delivered a very strong March quarter,” and “we generated one of our highest ever levels of free cash flow at close to $1 billion,” said CEO William Mosley, framing the quarter as evidence of “the durability of demand and the leverage in our model.” Mosley said “momentum continues to build for our Mozaic HAMR-based platforms,” adding that “2 of the world's largest CSPs now qualified on our 4+ terabyte per disk product,” and that qualification timelines were “in line with PMR products.” Mosley stated the company is “entering a period of structural growth,” and said Seagate is “confiden[t] to significantly increase our annual revenue growth target from the low to mid-teens, to a minimum of 20% over the next few years.” On demand visibility and allocation, Mosley said nearline “accounted for close to 90% of total Exabyte shipments,” and that Seagate has “nearline capacity almost fully allocated through calendar 2027,” while “finalizing build-to-order contracts…through the end of fiscal 2027.” CFO Gianluca Romano said Seagate “posted very strong results for the March quarter,” reporting revenue of “$3.1 billion,” non-GAAP gross margin of “47%,” non-GAAP operating margin of “37.5%,” and non-GAAP EPS of “$4.10,” alongside “free cash flow generation…$953 million.” Outlook Romano guided June quarter revenue to “a range of $3.45 billion, plus or minus $100 million,” with non-GAAP operating expenses “approximately $295 million,” and non-GAAP operating margin “in the lower 40% range.” Romano guided non-GAAP EPS to “$5 plus or minus $0.20,” based on “a tax rate of about 16%” and “non-GAAP diluted share count of 231 million shares,” including “estimated dilution from our 2028 convertible notes of approximately 3 million shares.” Compared with the prior quarter’s outlook language, management shifted to broader confidence: Romano said, “we are confident in delivering quarterly revenue growth a...
UBS Wealth Management's Hartmut Issel shares his views on the Strait of Hormuz blockade and how AI themes factor into portfolio allocations. (Source: Bloomberg)
UBS Wealth Management's Hartmut Issel shares his views on the Strait of Hormuz blockade and how AI themes factor into portfolio allocations. (Source: Bloomberg)
Watch: Small Earthquake Registered After IDF Blows Up Largest-Ever Hezbollah Tunnel The Israel Defense Forces (IDF) on Tuesday destroyed a major Hezbollah tunnel in southern Lebanon on Tuesday evening, minutes after issuing an unusual warning that the blast would be heard across wide areas. The tunnel is being described in regional media as the largest one ever discovered thus far in the war in so...
Watch: Small Earthquake Registered After IDF Blows Up Largest-Ever Hezbollah Tunnel The Israel Defense Forces (IDF) on Tuesday destroyed a major Hezbollah tunnel in southern Lebanon on Tuesday evening, minutes after issuing an unusual warning that the blast would be heard across wide areas. The tunnel is being described in regional media as the largest one ever discovered thus far in the war in southern Lebanon. Israeli N12 News reporter Amit Segal has written that "the force of the explosion caused a small earthquake to be felt along the northern border ." The below footage has been confirmed in Israeli media: The IDF destroyed a massive Hezbollah tunnel; the force of the explosion caused a small earthquake to be felt along the northern border. pic.twitter.com/symjrjk7bT — Amit Segal (@AmitSegal) April 28, 2026 Very shortly before the huge blast, an alert went out to Israeli communities from Rosh Hanikra to the Golan Heights, forewarning of the large explosion - telling people not to panic. The tunnel was located near the village of Qantara, which is a heavily Shiite Muslim town. The Israeli ground operation has seen Muslim and Christian villages alike razed to the ground in some instances. Amid the fragile Iran and Lebanon ceasefires, sirens sounded in the Galilee area just minutes before the planned detonation, reportedly also based on potential inbound aerial threats. Amazingly, the Times of Israel reports in the explosion aftermath that the "Geological Survey of Israel says the massive controlled explosion was picked up by the seismic warning system . However, no earthquake sirens were activated." "The military told residents earlier it would ensure that the controlled blast would not set off the earthquake sirens, which has happened in the past," the report adds. Blast images circulating widely on X The blast was filmed and photographed even from miles away, where smoke was seen reaching many stories into the air. Lebanon has been denouncing such controlled de...