Tech bull Dan Ives is predicting a major consolidation of Elon Musk's corporate empire, forecasting a highly probable merger between Tesla Inc. and IPO-bound SpaceX by early 2027. The Merger Timeline Speaking to Schwab Network about the potential for the two visionary companies to combine under one umbrella, the Wedbush Securities managing director outlined a specific sequence of events. Ives pred...
Tech bull Dan Ives is predicting a major consolidation of Elon Musk's corporate empire, forecasting a highly probable merger between Tesla Inc. and IPO-bound SpaceX by early 2027. The Merger Timeline Speaking to Schwab Network about the potential for the two visionary companies to combine under one umbrella, the Wedbush Securities managing director outlined a specific sequence of events. Ives predicts that SpaceX’s initial public offering this summer will set the financial stage for a massive co
NikkiZalewski/iStock via Getty Images Alphabet Inc. aka Google's ( GOOG , GOOGL ) earnings are on deck for Wednesday, April 29th. The stock is up a mesmerizing 115% over the past year, with effectively every single line of business crushing expectations, driving a complete one-eighty in market sentiment, leading to a sharp re-rating in the valuation multiple. We called the inflection point back in...
NikkiZalewski/iStock via Getty Images Alphabet Inc. aka Google's ( GOOG , GOOGL ) earnings are on deck for Wednesday, April 29th. The stock is up a mesmerizing 115% over the past year, with effectively every single line of business crushing expectations, driving a complete one-eighty in market sentiment, leading to a sharp re-rating in the valuation multiple. We called the inflection point back in June 2025, and we've continued to pound the table on further significant upside ahead. Now, let's dive into the key factors to monitor in the upcoming report. The Google Investment Thesis, In A Nutshell I recently published a comprehensive write-up detailing my long-term investment thesis in Google, and why I continue to believe it's a Strong Buy and a must-own in concentrated portfolios. In short, I argue that Google is uniquely positioned to benefit from AI, and that even after the stock surge, the market is far from realizing just how big of a push AI is going to be for Google. Created by the author based on Alphabet reports. First, the "Why." Alphabet is the only company with leading capabilities across every layer of the AI technology stack, from chips (TPUs) and networking, to research (DeepMind), to a complete cloud suite (GCP), and the most expansive portfolio of services with billions of users (Search, YouTube, Android, Gemini, etc.). Second, the "How." Google is already leveraging its advantages to drive very real business outcomes, seeing significant acceleration in cloud revenue growth, a huge expansion in Search queries, and meaningful adoption of AI services like Gemini, AI Overviews, and AI Mode. The way I see it, we're in the very early innings of AI-led acceleration across the entire Google business, and I define the upcoming Q1 earnings report as a potential "Welcome To The New Age" quarter. All Arrows Point To Broad-Based Acceleration In Wednesday's earnings, Alphabet is expected to report $107 billion in revenues, reflecting an astounding 18.6% growth, ...
NikkiZalewski/iStock via Getty Images Alphabet Inc. aka Google's ( GOOG , GOOGL ) earnings are on deck for Wednesday, April 29th. The stock is up a mesmerizing 115% over the past year, with effectively every single line of business crushing expectations, driving a complete one-eighty in market sentiment, leading to a sharp re-rating in the valuation multiple. We called the inflection point back in...
NikkiZalewski/iStock via Getty Images Alphabet Inc. aka Google's ( GOOG , GOOGL ) earnings are on deck for Wednesday, April 29th. The stock is up a mesmerizing 115% over the past year, with effectively every single line of business crushing expectations, driving a complete one-eighty in market sentiment, leading to a sharp re-rating in the valuation multiple. We called the inflection point back in June 2025, and we've continued to pound the table on further significant upside ahead. Now, let's dive into the key factors to monitor in the upcoming report. The Google Investment Thesis, In A Nutshell I recently published a comprehensive write-up detailing my long-term investment thesis in Google, and why I continue to believe it's a Strong Buy and a must-own in concentrated portfolios. In short, I argue that Google is uniquely positioned to benefit from AI, and that even after the stock surge, the market is far from realizing just how big of a push AI is going to be for Google. Created by the author based on Alphabet reports. First, the "Why." Alphabet is the only company with leading capabilities across every layer of the AI technology stack, from chips (TPUs) and networking, to research (DeepMind), to a complete cloud suite (GCP), and the most expansive portfolio of services with billions of users (Search, YouTube, Android, Gemini, etc.). Second, the "How." Google is already leveraging its advantages to drive very real business outcomes, seeing significant acceleration in cloud revenue growth, a huge expansion in Search queries, and meaningful adoption of AI services like Gemini, AI Overviews, and AI Mode. The way I see it, we're in the very early innings of AI-led acceleration across the entire Google business, and I define the upcoming Q1 earnings report as a potential "Welcome To The New Age" quarter. All Arrows Point To Broad-Based Acceleration In Wednesday's earnings, Alphabet is expected to report $107 billion in revenues, reflecting an astounding 18.6% growth, ...
High fuel prices and passenger delays caused by EU’s EES entry-exit system causing problems, says trade body Business live – latest updates Europe’s smaller airports may not survive if jet fuel shortages triggered by the Middle East crisis lead to widespread route cancellations, the industry’s trade body has warned. Although airlines insist that there are currently no supply issues within the norm...
High fuel prices and passenger delays caused by EU’s EES entry-exit system causing problems, says trade body Business live – latest updates Europe’s smaller airports may not survive if jet fuel shortages triggered by the Middle East crisis lead to widespread route cancellations, the industry’s trade body has warned. Although airlines insist that there are currently no supply issues within the normal four- to six-week horizon, the US-Israel war on Iran and the effective closure of the strait of Hormuz have doubled the price of jet fuel, prompting some carriers to cancel flights. Continue reading...
While their London peers thrived, Knats faced dwindling funding. But after a Proms appearance and as they release a new album produced by Black Midi’s Geordie Greep, their confidence is high “It’s kind of a silly story,” says King David-Ike Elechi, grinning as he explains the origins of his jazz band Knats. At school, in year seven, he became friends with classmate Stan Woodward after a silent gam...
While their London peers thrived, Knats faced dwindling funding. But after a Proms appearance and as they release a new album produced by Black Midi’s Geordie Greep, their confidence is high “It’s kind of a silly story,” says King David-Ike Elechi, grinning as he explains the origins of his jazz band Knats. At school, in year seven, he became friends with classmate Stan Woodward after a silent game of passing a giant pink novelty rubber back and forth to one another. Elechi suggested that Woodward should join a local School of Rock-style music club with him. “Then we had a Whiplash moment, where the teacher is really mean,” says a now 22-year-old Elechi, huddled in a booth in the cafe of Tyneside Cinema, Newcastle. The breaking point was being told they weren’t good enough to cover Arctic Monkeys’ R U Mine? Woodward, also 22, is stuck on a train during our interview, but later confirms the story over a video call. “We were like: fuck this guy, let’s leave this club and do it ourselves.” Continue reading...
The average brokerage recommendation (ABR) for Advanced Micro (AMD) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
The average brokerage recommendation (ABR) for Advanced Micro (AMD) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
Broadcom's expanded Google Cloud collaboration, combined with the Meta MTIA deal and Anthropic's TPU commitment, reinforces the thesis that AVGO stock has quietly become one of the most deeply embedded infrastructure plays across the entire hyperscaler AI buildout.
Broadcom's expanded Google Cloud collaboration, combined with the Meta MTIA deal and Anthropic's TPU commitment, reinforces the thesis that AVGO stock has quietly become one of the most deeply embedded infrastructure plays across the entire hyperscaler AI buildout.
Global commodity prices are set to increase this year to the highest since 2022 as the war in Iran continues to disrupt key industrial supplies like oil and metals, the World Bank Group said. The bank’s commodity-price index is seen climbing about 16% this year, the Washington-based lender said in its latest Commodity Markets Outlook report Tuesday. That would mark the first annual increase since ...
Global commodity prices are set to increase this year to the highest since 2022 as the war in Iran continues to disrupt key industrial supplies like oil and metals, the World Bank Group said. The bank’s commodity-price index is seen climbing about 16% this year, the Washington-based lender said in its latest Commodity Markets Outlook report Tuesday. That would mark the first annual increase since Russia’s invasion of Ukraine roiled energy markets and fanned global inflation, according to the bank. Energy and fertilizer prices have surged to multi-year highs since the start of the Iran war in late February. The effective shutdown of the Strait of Hormuz, which accounted for about a third of global seaborne trade in crude oil before the conflict, triggered a historic shock to energy and commodity markets, the bank said. “The war is hitting the global economy in cumulative waves: first through higher energy prices, then higher food prices, and finally, higher inflation,” said Indermit Gill , chief economist at the World Bank. Read More: IMF Warns of Global Economic Downturn If War in Iran Lasts The World Bank’s energy price gauge is seen increasing around 24% this year, in a baseline projection where the “most acute” supply disruptions end in May. Meanwhile, Brent crude is seen averaging $86 a barrel this year, an upward revision from $60 a barrel estimate in January. Natural gas and fertilizer markets have also seen sharp price increases due to the conflict. The World Bank sees fertilizer costs climbing 31% this year, which poses a risk to farmer incomes and future crop yields. That could eventually filter through to higher food costs and raise food insecurity. The closure of the strait has cut off key routes for several economies reliant on imported foods, while higher fuel and freight costs are pushing up prices for other essentials . If oil prices remain above $100 a barrel, it “could push up to 45 million more people into acute food insecurity this year,” the Worl...
myshkovsky/iStock via Getty Images There are moments in banking when the narrative drifts so far toward macro fears such as rates, credit cycles, and regulation that investors overlook what is happening underneath. That disconnect is where value tends to emerge. F.N.B. Corporation ( FNB ) sits squarely in that gap today. It's a regional bank with above-peer returns, disciplined growth, and a capit...
myshkovsky/iStock via Getty Images There are moments in banking when the narrative drifts so far toward macro fears such as rates, credit cycles, and regulation that investors overlook what is happening underneath. That disconnect is where value tends to emerge. F.N.B. Corporation ( FNB ) sits squarely in that gap today. It's a regional bank with above-peer returns, disciplined growth, and a capital return story that is only just beginning to re-rate. The latest earnings reinforce a simple point. This is not a turnaround. Rather, it is a well-run franchise executing a long-term plan. FNB now trades at a valuation that does not fully reflect its durability or earnings trajectory, so let's dive in! A Differentiated Regional Bank Still Playing Offense F.N.B. is not trying to be the biggest bank in the room. Instead, it has spent more than a decade building what management describes as a "scaled regional" model. It's large enough to compete with national banks but agile enough to win business in the middle market. Since 2009, FNB has grown its balance sheet nearly fivefold while compounding organically at roughly 8%. It's been able to achieve this all while maintaining an efficiency ratio in the low-to-mid 50s. As shown below, FNB has driven 9.6% CAGR in shareholder value through book value and dividends since 2009, as shown below. Investor Presentation What stands out is how that growth has been achieved. The bank has deliberately diversified beyond traditional lending by building capital markets, wealth management, and treasury capabilities. At the same time, it has leaned heavily into technology. Its proprietary eStore platform, AI-driven analytics, and ongoing investment in a "360-degree customer view" are not cosmetic upgrades. They are designed to deepen relationships and improve cross-selling, which is where regional banks often fall short. Earnings Strength Driven by Core Execution FNB's Q1'26 results were strong where it matters. Net income came in at $137 mill...
syahrir maulana/iStock via Getty Images Small-cap Fundamental Value Review And Outlook The Brown Advisory Small-Cap Fundamental Value Strategy was up for the quarter on an absolute basis but trailed its benchmark, the Russell 2000® Value Index. Small-caps rallied sharply to start the year but gave back some of those gains following the start of the conflict in the Middle East. The Strategy trailed...
syahrir maulana/iStock via Getty Images Small-cap Fundamental Value Review And Outlook The Brown Advisory Small-Cap Fundamental Value Strategy was up for the quarter on an absolute basis but trailed its benchmark, the Russell 2000® Value Index. Small-caps rallied sharply to start the year but gave back some of those gains following the start of the conflict in the Middle East. The Strategy trailed significantly during the early part of the quarter, but our relative performance improved throughout the period. Small-caps outpaced their larger peers in the quarter, continuing the groups' outperformance since the market bottom in April of 2025. Value outperformed growth across the market capitalization spectrum, and the Russell 2000 Value Index outpaced the Russell 2000® Growth Index for the third consecutive quarter. Within the Russell 2000 Value Index, most sectors posted positive returns, but the Energy sector materially outperformed the rest of the Index as oil prices rose dramatically in response to the conflict in the Middle East. The group returned 43% during the quarter, in one of the most significant periods of outperformance by a sector in the last 40+ years. Information Technology, which continued its rally from last year, was the largest detractor to relative performance in the quarter. While several of our investments in the group were strong, NCR Voyix ( VYX ) was particularly challenged. Despite strong absolute returns in the group, Energy also weighed on relative results, as our holdings could not keep pace with the benchmark's 43% return in the group. Health Care was our strongest relative performing sector, followed by Materials. Our Health Care performance was particularly noteworthy, as the team has worked over the past several years to rebuild our investments in this sector after the sector had a particularly difficult 2023. Our performance within the sector was also in spite of the late quarter rally in biotech shares. Within Materials, strong stoc...
Oil prices have soared this year to levels not seen since 2022, when inflation was a major concern for the economy. It was also a troubling time for the markets as a whole, with the S&P 500 falling by more than 19% that year. There are some types of businesses that can do well amid economic challenges , however. One company that believes it may be resilient, even amid high oil prices, is American ...
Oil prices have soared this year to levels not seen since 2022, when inflation was a major concern for the economy. It was also a troubling time for the markets as a whole, with the S&P 500 falling by more than 19% that year. There are some types of businesses that can do well amid economic challenges , however. One company that believes it may be resilient, even amid high oil prices, is American Express (NYSE: AXP) . The credit card issuer caters to an affluent customer base, and that has enabled the business to perform well over the years. And the CEO points to the company's latest quarterly results as evidence of why it can continue to do well. Image source: Getty Images. Continue reading
AMC Entertainment (NYSE: AMC) may be down by more than 99% from its meme-stock-era highs, but that hasn't stopped investors from speculating in the movie theater operator's shares lately. Following a spate of positive news about ticket sales, shares zoomed earlier this month from under $1 to around $1.75. Yet while the stock has so far held on to most of these gains, I am of the view that AMC rema...
AMC Entertainment (NYSE: AMC) may be down by more than 99% from its meme-stock-era highs, but that hasn't stopped investors from speculating in the movie theater operator's shares lately. Following a spate of positive news about ticket sales, shares zoomed earlier this month from under $1 to around $1.75. Yet while the stock has so far held on to most of these gains, I am of the view that AMC remains one of the most overvalued stocks on the market, and not worth buying. Why? It all has to do with the company's high debt position and how this factor will limit the stock's long-term ability to bounce back, even if U.S. box office revenue returns to its pre-COVID levels. Continue reading
A stock's track record is important for dividend investors because it can symbolize not only the company's commitment to keeping the payout going, but also just how solid and stable its financial results have been over the long term. After all, for a company to be paying dividends for decades, it will have experienced a myriad of challenges and economic cycles. Being able to continue paying a divi...
A stock's track record is important for dividend investors because it can symbolize not only the company's commitment to keeping the payout going, but also just how solid and stable its financial results have been over the long term. After all, for a company to be paying dividends for decades, it will have experienced a myriad of challenges and economic cycles. Being able to continue paying a dividend over a long stretch highlights financial resilience that isn't common. One dividend stock that is truly special is Procter & Gamble (NYSE: PG) . It has not only been paying a dividend to its shareholders for more than a century, but it's also been increasing its payout for decades. The consumer goods stock is down 8% over the past 12 months, and here's why it could be a great buy on the dip. Image source: Getty Images. Continue reading