Stepan press release ( SCL ): Q1 Non-GAAP EPS of $0.45 beats by $0.06 . Revenue of $604.51M (+1.9% Y/Y) misses by $7.74M . Adjusted EBITDA (2) was $49.6 million, down 14% year-over-year. Cash from Operations was $16.9 million during the quarter. Free cash flow for the quarter was a negative $14.0 million. "We believe we are positioned to continue delivering growth in all our key strategic business...
Stepan press release ( SCL ): Q1 Non-GAAP EPS of $0.45 beats by $0.06 . Revenue of $604.51M (+1.9% Y/Y) misses by $7.74M . Adjusted EBITDA (2) was $49.6 million, down 14% year-over-year. Cash from Operations was $16.9 million during the quarter. Free cash flow for the quarter was a negative $14.0 million. "We believe we are positioned to continue delivering growth in all our key strategic businesses such as Crop Productivity, Oilfield, Tier 2/3 Surfactants and North American Polymers. With our actions on growth, productivity and cash, we believe we will deliver full year Adjusted EBITDA growth, positive free cash flow and continue to de-leverage the balance sheet in 2026, despite the ongoing and significant market uncertainties and challenges." More on Stepan Stepan Company: The Ride Higher Isn't Over Yet Stepan Company: Upside Unclear, Better Alternatives Exist Stepan Company (SCL) Q4 2025 Earnings Call Transcript Stepan outlines $100M cost savings plan and expects EBITDA growth in 2026 amid restructuring Stepan Non-GAAP EPS of -$0.02, revenue of $553.89M misses by $16.71M
Germany’s government plans to increase net new borrowing by more than 8% next year as it ramps up spending on defense and infrastructure, though aims to impose cuts across ministries to keep expenditure in check in other areas of the budget. Net new borrowing will climb go €196.5 billion ($230 billion) in 2027 from €181.6 billion in 2026, according to a document distributed by officials in Berlin....
Germany’s government plans to increase net new borrowing by more than 8% next year as it ramps up spending on defense and infrastructure, though aims to impose cuts across ministries to keep expenditure in check in other areas of the budget. Net new borrowing will climb go €196.5 billion ($230 billion) in 2027 from €181.6 billion in 2026, according to a document distributed by officials in Berlin. Those figures include debt earmarked for upgrading Germany’s military and for investing in the country’s infrastructure after the coalition eased debt restrictions last year. The budget figures are set to be approved Wednesday alongside an overhaul of Germany’s health-insurance system as the coalition struggles to push forward a more comprehensive set of reforms to lift Europe’s No. 1 economy out of economic malaise. The government last week cut its growth forecast for this year in half in response to the energy crisis. Output is set to climb by 0.5% this year, down from a January projection for a 1% expansion, the Economy Ministry said. Growth next year will be at 0.9%, down from 1.3% previously. Finance Minister Lars Klingbeil plans to impose a 1% budget cut across ministries across the rest of the budget, as well as measures including taxes and fees on alcohol, tobacco and sugar, according to the document.
Bloomberg’s report that OpenAI is missing internal targets sent OpenAI-linked names lower, and NVIDIA (NASDAQ:NVDA) caught the chop. I’ve watched NVDA since 2010, and headlines like this come and go. The thesis does not. OpenAI is one customer. Nvidia’s $62.3 billion in Q4 FY2026 Data Center revenue, up 75% year over year, is spread across ... OpenAI Hit a Speed Bump. Here’s Why Nvidia’s Long-Term...
Bloomberg’s report that OpenAI is missing internal targets sent OpenAI-linked names lower, and NVIDIA (NASDAQ:NVDA) caught the chop. I’ve watched NVDA since 2010, and headlines like this come and go. The thesis does not. OpenAI is one customer. Nvidia’s $62.3 billion in Q4 FY2026 Data Center revenue, up 75% year over year, is spread across ... OpenAI Hit a Speed Bump. Here’s Why Nvidia’s Long-Term Story Is Still Intact
Sinopec’s profit climbed in the first quarter amid higher crude prices due to the war in the Middle East. Net income of China’s largest oil refiner rose to 17.7 billion yuan ($2.6 billion) in the first quarter, from nearly 14 billion yuan a year earlier, the company said in an exchange filing on Tuesday. The state-owned refiner is heavily reliant on crude imports, leaving it more exposed to global...
Sinopec’s profit climbed in the first quarter amid higher crude prices due to the war in the Middle East. Net income of China’s largest oil refiner rose to 17.7 billion yuan ($2.6 billion) in the first quarter, from nearly 14 billion yuan a year earlier, the company said in an exchange filing on Tuesday. The state-owned refiner is heavily reliant on crude imports, leaving it more exposed to global turbulence than some of its peers. Global benchmark Brent oil jumped to as high as almost $120 a barrel in March, and averaged around $78 over the quarter, higher than the same period last year. China has put restrictions on fuel exports and refiners have cut activity due to the conflict. China’s sizable stock of low-cost inventory built up before the war may provide a buffer against downstream pressure, but the increase in fuel prices is threatening to accelerate electrification across China’s economy, which will be a longer-term challenge. Sinopec’s core refining business profit surged to 18.8 billion yuan in the first three months, compared with 2.4 billion yuan a year earlier. Upstream profits fell to 12.4 billion yuan from 12.9 billion yuan last year. The firm said last month that it aims to maintain annual output and throughput but intends to cut capital expenditure to safeguard cash flows. Losses in chemicals widened to 1.3 billion yuan in the first quarter, from 1.2 billion yuan in the same period last year. While curbed petrochemical supplies from a war-battered Middle East have helped improve profits in the sector, Sinopec’s aging facilities continued to face structural oversupply in low-end products. Sinopec’s crude output stayed flat at 69.8 million barrels in the first quarter, in line with the company’s target.
NoSystem images/E+ via Getty Images I wonder how many people (besides me) have never played Dungeons & Dragons, commonly known as D&D . That famous role-playing game debuted in 1974. But back then, I was more interested in disco. During that year, Disco broke beyond its underground heritage into the mainstream when “Billboard created its first ‘Disco Action’ chart on October 26, 1974.” Like many f...
NoSystem images/E+ via Getty Images I wonder how many people (besides me) have never played Dungeons & Dragons, commonly known as D&D . That famous role-playing game debuted in 1974. But back then, I was more interested in disco. During that year, Disco broke beyond its underground heritage into the mainstream when “Billboard created its first ‘Disco Action’ chart on October 26, 1974.” Like many fads, disco eventually died. Many date that from a 7/12/79 Disco Demolition Night event at Chicago’s Comiskey Park. Between games of a baseball doubleheaders, the promoters blew up a crate of vinyl disco records. D&D, however, kept on going — on and on and on and even into the present. By 2024, about 50 million people are said to have played D&D. And with the game having migrated beyond tabletop toward electronic, it’s still marching on. I’m not sure how many in the investment community play Dungeons & Dragons. How many have the spare time? I didn’t mourn the death of disco in 1979. I, too, developed other pressing demands on my time. I started my first stock analysis job at Value Line ( VALU ) on 12/1/79. It seems, though, there’s another D&D game that’s become hot — at least between Intellia Therapeutics ( NTLA ) and the analysts-investors who follow or trade in the stock. I call it Data & Doubt. This new type of D&D game is not (yet) commercially available. But the company and investor teams have been paying for a whie. And the competition really heated up in the past few days I’ll set the stage by introducing the players and their respective teams… Team Data — Intellia Therapeutics I’ve covered NTLA often (most recently on 11/19/25 ). I’ve done that because I’m fascinated by the company’s methods of developing drugs . It does so using the Crispr Therapeutics ( CRSP ) gene-editing platform. This, to me, sounds like the future of medicine. My wife tells me my ailments are caused by my failure to do what she keeps telling me to do. But scientists suggest genetic factors (ge...
Emerging stocks fell on Tuesday, retreating from record highs, as a broad selloff in tech shares and higher oil prices dragged on sentiment. MSCI’s Emerging Market Index fell 0.6%, a day after reclaiming record highs hit before the war started in Iran. Now entering its third month, the conflict is causing markets to oscillate between optimism fueled by hopes of a peace deal and the risks of persis...
Emerging stocks fell on Tuesday, retreating from record highs, as a broad selloff in tech shares and higher oil prices dragged on sentiment. MSCI’s Emerging Market Index fell 0.6%, a day after reclaiming record highs hit before the war started in Iran. Now entering its third month, the conflict is causing markets to oscillate between optimism fueled by hopes of a peace deal and the risks of persistently high prices. Brent rose for a seventh straight session as traders waited for President Donald Trump’s response to Iran’s proposal to reopen the Hormuz Strait. Meanwhile, a Wall Street Journal report on OpenAI rekindled concerns that the artificial-intelligence rally is overstretched, dragging tech stocks lower. Shares in Taiwan Semiconductor Manufacturing Co. — comprising 13% of the emerging equity index — slid 2.2%, while Alibaba Group Holding Ltd and Samsung Electronics Co. each shed more than 1%. Read: Emerging Stocks an Even Better Bargain After Best Rally in Years “Emerging-market equities have a large tech component which has helped indices ignore the negative effects of the war,” said Rajeev de Mello , global macro portfolio manager at Gama Asset Management SA . “I see the recent rally taking a breather, especially as Brent stays significantly above $100 a barrel.” He added that with the Hormuz effectively shut to oil shipments, “inflation concerns will increase keeping central banks in an uncomfortable position: stuck between inflation and a risk to growth.” Those worries lifted Treasury yields and the dollar, pushing MSCI’s emerging currency index 0.3% lower. The Philippine peso slipped to a new record low while the Thai baht was hurt by a cut to growth forecasts. South Africa’s rand slipped as much as 0.5%. Rising inflation expectations also weighed on emerging bonds. Indonesia’s 10-year bond posted its longest rising streak in over three months, while South African yields rose to three-week highs. The South African Reserve Bank has said that oil at around ...
Anja W./iStock via Getty Images Generally speaking, whenever a REIT ( VNQ ) is offered at a dividend yield in excess of 10%, it is a major red flag. The market is essentially signaling to you that there is something severely wrong with the REIT. This can mean that its balance sheet is overleveraged, its management is conflicted, or its assets are troubled and likely to face declining cash flows. A...
Anja W./iStock via Getty Images Generally speaking, whenever a REIT ( VNQ ) is offered at a dividend yield in excess of 10%, it is a major red flag. The market is essentially signaling to you that there is something severely wrong with the REIT. This can mean that its balance sheet is overleveraged, its management is conflicted, or its assets are troubled and likely to face declining cash flows. As a result, most ultra-high-yielding REITs end up eventually cutting their dividends and suffering poor total returns. Global Net Lease ( GNL ) is a great example of that. It has consistently traded at a very high yield, and here are the results: Data by YCharts But there are a few select exceptions that I still include as part of my portfolio. The following REITs are offering a 10% dividend yield or more and are worth owning in my opinion. Innovative Industrial Properties Series A Preferred Shares ( IIPR.PR.A ) Innovative Industrial Properties ( IIPR ) is the leading REIT that focuses on cannabis cultivation facilities. Innovative Industrial Properties This is a risky sector with high cap rates, weak tenants, and regular lease defaults. For this reason, the market is pricing the REIT's common and preferred equity at a steep discount and high yield. Innovative Industrial Properties I think that this makes sense in the case of the common equity, given that it is first in line to absorb any potential losses. Its common dividend is also poorly covered and at high risk of being cut sometime in the near future. However, the preferred equity is very intriguing because it represents only a tiny slice of its balance sheet and has an enormous common equity buffer, given that the REIT is using very low leverage. Its LTV is just 14%, and since the preferred equity represents just 4% of the capital stack, it has an 80%+ common equity buffer to absorb losses. Innovative Industrial Properties As a result, the preferred dividend is very safely covered, enjoying a 48x preferred dividend co...
Joby Aviation's recent New York City flights mark a pivotal shift from development to operational reality, signaling the imminent arrival of air taxis.
Joby Aviation's recent New York City flights mark a pivotal shift from development to operational reality, signaling the imminent arrival of air taxis.
First Commonwealth Financial press release ( FCF ): Q1 Non-GAAP EPS of $0.37 misses by $0.03 . Revenue of $133.7M (+12.9% Y/Y) misses by $0.62M . More on First Commonwealth Financial First Commonwealth Financial: Just Good Enough To Remain Bullish First Commonwealth Financial Corporation (FCF) Q4 2025 Earnings Call Transcript First Commonwealth Financial Corporation 2025 Q4 - Results - Earnings Ca...
First Commonwealth Financial press release ( FCF ): Q1 Non-GAAP EPS of $0.37 misses by $0.03 . Revenue of $133.7M (+12.9% Y/Y) misses by $0.62M . More on First Commonwealth Financial First Commonwealth Financial: Just Good Enough To Remain Bullish First Commonwealth Financial Corporation (FCF) Q4 2025 Earnings Call Transcript First Commonwealth Financial Corporation 2025 Q4 - Results - Earnings Call Presentation First Commonwealth Financial dividend preview: April raise expected to extend 9-year run First Commonwealth Financial signals 4% net interest margin target for 2026 while advancing share buybacks
S&P Global press release ( SPGI ): Q1 Non-GAAP EPS of $4.97 beats by $0.15 . Revenue of $4.17B (+10.3% Y/Y) beats by $100M . First-quarter revenue increased 10% year over year, representing an increase of nearly $400 million. This increase was driven primarily by Ratings and Market Intelligence. Revenue from subscription products increased 6%. 2026 guidance now calls for reported revenue growth of...
S&P Global press release ( SPGI ): Q1 Non-GAAP EPS of $4.97 beats by $0.15 . Revenue of $4.17B (+10.3% Y/Y) beats by $100M . First-quarter revenue increased 10% year over year, representing an increase of nearly $400 million. This increase was driven primarily by Ratings and Market Intelligence. Revenue from subscription products increased 6%. 2026 guidance now calls for reported revenue growth of 6.3% to 8.3% vs 7.44% consensus, while still expecting organic constant currency revenue growth of 6.0% to 8.0%, and adjusted diluted EPS in the range of $19.40 to $19.65 vs. $19.63 consensus. Other GAAP guidance to be provided upon completion of Mobility spin. Shares +1.3% PM. More on S&P Global S&P Global: It's Not About Ratings In Upcoming Earnings Moody's Vs. S&P Global: AI Risk, Refinancing Boom & 2026 Outlook S&P Global Inc. (SPGI) Discusses Reinvention of Capital IQ Pro With GenAI, Expanded Analytics and Integrated Data Capabilities Prepared Remarks Transcript S&P Global Q1 2026 Earnings Preview Earnings scoreboard for financials: 18 of 19 companies see Y/Y growth in earnings
Sportradar press release ( SRAD ): Q1 GAAP EPS of - € 0.02. Revenue of € 346.52M (+11.3% Y/Y). Adjusted EBITDA 1 increased 12% to €66 million and Adjusted EBITDA margin 1 expanded to 19.0%. Net cash from operating activities of €109 million. Free cash flow 1 increased 38% to €44 million. Achieved a Customer Net Retention Rate 1 of 108% excluding contributions from IMG. 2026 Full Year Financial Out...
Sportradar press release ( SRAD ): Q1 GAAP EPS of - € 0.02. Revenue of € 346.52M (+11.3% Y/Y). Adjusted EBITDA 1 increased 12% to €66 million and Adjusted EBITDA margin 1 expanded to 19.0%. Net cash from operating activities of €109 million. Free cash flow 1 increased 38% to €44 million. Achieved a Customer Net Retention Rate 1 of 108% excluding contributions from IMG. 2026 Full Year Financial Outlook Sportradar reiterated its fiscal 2026 outlook as follows: Revenue growth on a Constant Currency 1 basis of 23% to 25%. When factoring in current foreign currency rates, revenues are expected to grow to a range of €1,557 to €1,582 million Adjusted EBITDA growth on a Constant Currency basis of 34% to 37%. When factoring in current foreign currency rates, Adjusted EBITDA is expected to grow to a range of €390 to €400 million Adjusted EBITDA margin expansion of approximately 200 to 225 basis points Free cash flow conversion 1 rate is expected to exceed the 2025 level of 56% More on Sportradar Sportradar Group AG: Both The Moat And Growth Outlook Have Improved Sportradar Group AG (SRAD) Presents at The 38th Annual Roth Conference Transcript Sportradar: Still Growing Exceptionally, But The Future Needs To Be More Enticing Sportradar Q1 2026 Earnings Preview Sportradar falls amid Muddy Waters short call (update)
Parradee Kietsirikul/iStock via Getty Images 2026 Review The Dividend Aristocrats had a terrible March collectively and are thus far not enjoying as robust a rebound as the broad equity market. The early outperformance the Aristocrats have built on the S&P 500 has all but faded here in April. What's also interesting is the range of returns for individual Aristocrats. In March, the margin between t...
Parradee Kietsirikul/iStock via Getty Images 2026 Review The Dividend Aristocrats had a terrible March collectively and are thus far not enjoying as robust a rebound as the broad equity market. The early outperformance the Aristocrats have built on the S&P 500 has all but faded here in April. What's also interesting is the range of returns for individual Aristocrats. In March, the margin between the best Aristocrat, Exxon Mobil Corporation ( XOM ), and the worst, McCormick & Company, Incorporated ( MKC ), was exceeding 40%. In April, thus far, this gap is equivalently high, except now Exxon is the worst-performing Aristocrat, with Nucor Corporation ( NUE ) leading the charge. The ProShares S&P 500 Dividend Aristocrats ETF ( NOBL ) was down 7.04% in March and is up 2.04% through April 27th. While the S&P 500, measured by the State Street SPDR S&P 500 ETF Trust ( SPY ), was 4.93% down in March and is up 9.91% in April thus far. Despite losing their momentum relative to the SPY, 32 individual Dividend Aristocrats are still outperforming the SPY this year, with 23 sitting on double-digit gains. Best Dividend Aristocrats in 2026 Here are the 15 best-performing Aristocrats in 2026: Caterpillar Inc. ( CAT ) +44.83%. Albemarle Corporation ( ALB ) +39.30%. Target Corporation ( TGT ) +33.91%. Nucor Corporation (NUE) +32.91%. Exxon Mobil Corporation (XOM) +24.00%. Archer-Daniels-Midland Company ( ADM ) +23.18%. Air Products and Chemicals, Inc. ( APD ) +22.94%. Chevron Corporation ( CVX ) +21.69%. Linde plc ( LIN ) +19.22%. NextEra Energy, Inc. ( NEE ) +19.14%. Nordson Corporation ( NDSN ) +17.68%. Franklin Resources, Inc. ( BEN ) +16.68%. Dover Corporation ( DOV ) +16.44%. C.H. Robinson Worldwide, Inc. ( CHRW ) +16.40%. Walmart Inc. ( WMT ) +15.06%. Dividend Growth Since the last update on March 21st, 4 more Dividend Aristocrats announced dividend increases. Here they are: International Business Machines Corporation ( IBM ) increased its dividend from $1.68 to $1.69, or by 0.6...
Asbury Automotive press release ( ABG ): Q1 Non-GAAP EPS of $5.37 misses by $0.25 . Revenue of $4.1B (flat Y/Y) misses by $270M . Gross Profit of $727 million Used Retail Gross Profit per Unit of $1,847, growth of 16% EPS of $9.87 per diluted share; adjusted EPS, a non-GAAP measure, of $5.37 per diluted share Net income of $188 million; adjusted net income, a non-GAAP measure, of $102 million Repu...
Asbury Automotive press release ( ABG ): Q1 Non-GAAP EPS of $5.37 misses by $0.25 . Revenue of $4.1B (flat Y/Y) misses by $270M . Gross Profit of $727 million Used Retail Gross Profit per Unit of $1,847, growth of 16% EPS of $9.87 per diluted share; adjusted EPS, a non-GAAP measure, of $5.37 per diluted share Net income of $188 million; adjusted net income, a non-GAAP measure, of $102 million Repurchased approximately 678,000 shares for $147 million More on Asbury Automotive Asbury Automotive: Aiming At Margin Instead Of Volume Asbury Automotive's Resilience Is Undervalued Asbury Automotive Group, Inc. 2025 Q4 - Results - Earnings Call Presentation Asbury Automotive signals $250M annual CapEx through 2027 as Tekion rollout advances Asbury Automotive Non-GAAP EPS of $6.67 beats by $0.01, revenue of $4.7B misses by $200M
Getty Images Listen below or on the go via Apple Podcasts and Spotify Celestica slides despite stronger earnings and upbeat guidance . (0:15) POET extends losses after Marvell-linked meltdown . (1:25) German Chancellor slams U.S. strategy on Iran . (2:30) The following is an abridged transcipt: Celestica ( CLS ) is slumping in premarket trading even after posting Q1 earnings and guidance that topp...
Getty Images Listen below or on the go via Apple Podcasts and Spotify Celestica slides despite stronger earnings and upbeat guidance . (0:15) POET extends losses after Marvell-linked meltdown . (1:25) German Chancellor slams U.S. strategy on Iran . (2:30) The following is an abridged transcipt: Celestica ( CLS ) is slumping in premarket trading even after posting Q1 earnings and guidance that topped estimates. In what looks like a case of good — but not good enough — the AI infrastructure play reported EPS of $2.16, ahead of the $2.09 forecast, on revenue of $4.05B, roughly in line with expectations. Shares had surged more than 40% year to date and about 350% over the past 12 months. For Q2, Celestica expects EPS between $2.14 and $2.34, above the $2.13 consensus. Sales are projected between $4.15B and $4.45B, with the midpoint topping the $4.18B estimate. CEO Rob Mionis said the company’s 2027 outlook continues to strengthen, citing accelerating growth in cloud connectivity and advanced technology solutions. Seeking Alpha analyst Kumquat Research upgraded the stock to Strong Buy following the results, noting that as an original design manufacturer rather than a silicon designer, “its growth will likely be more modest than some of its peers.” “But what it lacks in explosive growth, it makes up for with lower risk and a manufacturing moat that will be hard to cross,” the analyst added, calling CLS a differentiated value play within a high-beta AI portfolio. Meanwhile, loose lips sink stocks. POET Technologies ( POET ) is extending losses in premarket trading after plunging nearly 50% in the prior session. The company disclosed Monday that it lost a contract with Celestial AI, which has since been acquired by Marvell Technology ( MRVL ) – essentially for talking up the deal. “As the basis for the cancellation, Marvell indicated that the Company had made disclosures of information related to the purchase order and shipping details in contravention of its confidentialit...