Tverdohlib/iStock via Getty Images Quarterly review The fund outperformed the MSCI Emerging Markets Index (Net) for the quarter that ended March 31, 2026. At the sector level, stocks within the financials, consumer staples, and consumer discretionary sectors served as relative contributors, while stocks within the industrials, information technology (IT), and utilities sectors hindered relative pe...
Tverdohlib/iStock via Getty Images Quarterly review The fund outperformed the MSCI Emerging Markets Index (Net) for the quarter that ended March 31, 2026. At the sector level, stocks within the financials, consumer staples, and consumer discretionary sectors served as relative contributors, while stocks within the industrials, information technology (IT), and utilities sectors hindered relative performance. At the country level, stock selection in India, Brazil, and Peru aided relative performance, while stocks within South Africa, Taiwan, and Thailand impeded relative returns. Market review Emerging market equities, as measured by the MSCI Emerging Markets Index (Net), declined 0.17% in the first quarter, as attractive relative valuations continued to result in outperformance versus developed markets. China/Hong Kong underperformed (-8.94%) the benchmark in the first quarter, as equities weakened amid the Middle East conflict, but still outperformed many peer markets. The National People's Congress set a conservative 4.5-5.0% growth target, signaling support for stability and innovation without aggressive stimulus as China enters the 15th Five-Year Plan. Taiwan equities advanced 9.09%, despite weak market performance in March due to profit-taking pressure following strong year-to-date gains amid uncertainty around global geopolitical risks. India's market had poor performance (-18.13%) on concerns related to higher prices and availability of crude oil and natural gas and its adverse effect on the economy. Outside of Asia, performance was mixed, with Latin America generally outperforming the broader MSCI Emerging Markets Index (Net). Brazil markets outperformed (19.10%) the benchmark as the government implemented a diesel subsidy funded by a temporary 11% crude export tax. Mexico also outperformed (7.68%) the benchmark, as formal bilateral meetings on the United States-Mexico-Canada Agreement joint review began. Higher oil prices also benefited the energy sector of ...
400tmax United Parcel Service ( UPS ) fell in early action Tuesday after the delivery company issued a better-than-anticipated Q1 earnings report but did not push up its full-year guidance. Revenue was 1.4% lower than a year ago during the quarter at $21.2B, and adjusted EPS came in at $1.07 vs. $1.02 consensus. Revenue in the U.S. domestic segment was down 2.3% year-over-year to $14.1B vs. $13.9B...
400tmax United Parcel Service ( UPS ) fell in early action Tuesday after the delivery company issued a better-than-anticipated Q1 earnings report but did not push up its full-year guidance. Revenue was 1.4% lower than a year ago during the quarter at $21.2B, and adjusted EPS came in at $1.07 vs. $1.02 consensus. Revenue in the U.S. domestic segment was down 2.3% year-over-year to $14.1B vs. $13.9B consensus, primarily driven by an expected decline in volume. Revenue per piece grew by 6.5%. Non-GAAP adjusted operating margin was 4.0% in the segment. International package segment revenue was up 3.8% to $4.54B vs. $4.37B, driven by a 10.7% increase in revenue per piece. Supply chain solutions revenue fell 6.5% to $2.54B vs. the $2.72B consensus estimate. The revenue decline was primarily due to a decline in volume in the Mail Innovations business. UPS' ( UPS ) reported a consolidated non-GAAP adjusted operating margin of 6.2% of sales for the quarter. CEO update: "The first quarter of 2026 marked a critical transition period for UPS in which we needed to flawlessly execute several major strategic actions, and we delivered. With that behind us, we expect to return to consolidated revenue and operating profit growth and adjusted operating margin expansion in the second quarter of this year" For the full year, UPS ( UPS ) expects revenue to be approximately $89.7B vs. $89.7B consensus, and non-GAAP adjusted operating margin to be approximately 9.6%. In addition, the company is planning capital expenditures of about $3.0B and dividend payments of around $5.4B, subject to board approval. The effective tax rate is expected to be approximately 23.0%. Shares of UPS ( UPS ) were down 3.0% in premarket trading, while FedEx ( FDX ) shed 0.7%. More on UPS United Parcel Service: Buying Opportunities After The Selloff United With Valuation UPS: Rising Oil Prices Reveal How Fragile The Carrier's Profitability Levels Remain UPS: Positioning Itself For Future Success UPS beats top-line...
Hycroft Mining Holding ( HYMC ): Q1 GAAP EPS of -$0.54. Press Release More on Hycroft Mining Hycroft Mining: Up 1,300% Since My Sell Call - Why I'm Still Bearish Block sees lowest interest from short sellers in March among crypto firms with over $2B market cap Flat gold prices YTD mask big moves in mining stocks Seeking Alpha’s Quant Rating on Hycroft Mining Financial information for Hycroft Minin...
Hycroft Mining Holding ( HYMC ): Q1 GAAP EPS of -$0.54. Press Release More on Hycroft Mining Hycroft Mining: Up 1,300% Since My Sell Call - Why I'm Still Bearish Block sees lowest interest from short sellers in March among crypto firms with over $2B market cap Flat gold prices YTD mask big moves in mining stocks Seeking Alpha’s Quant Rating on Hycroft Mining Financial information for Hycroft Mining
BYD Co. ’s quarterly profit tumbled to its lowest level in more than three years as the the world’s largest maker of electric vehicles offered more discounts on its cars to fend off mounting competition. Net income fell 55% to 4.08 billion yuan ($597 million) in the three months ended March 31, the Shenzhen-based automaker said Tuesday. That’s in line with the 4.1 billion yuan average of five anal...
BYD Co. ’s quarterly profit tumbled to its lowest level in more than three years as the the world’s largest maker of electric vehicles offered more discounts on its cars to fend off mounting competition. Net income fell 55% to 4.08 billion yuan ($597 million) in the three months ended March 31, the Shenzhen-based automaker said Tuesday. That’s in line with the 4.1 billion yuan average of five analyst estimates compiled by Bloomberg. Revenue fell 12% to 150.2 billion yuan. The results extended the Shenzhen-based company’s streak of profit drops to four quarters as it faced intensifying competition from the likes of Xiaomi Corp. and Geely Automobile Holdings Ltd. That’s prompted the industry leader to slash prices to stay ahead, with discounts in March climbing to the highest level in two years, and eroding profits that BYD generates from each car. Read More: BYD Discounts Show China’s EV Price War Is Worsening “Margin pressure in the first quarter looks underestimated, but we expect it to ease in coming quarters,” Macquarie Capital Ltd. analyst Eugene Hsiao wrote in a note before the earnings were released. Still, his team would “remain cautious” in the near term, he wrote. There were some greenshoots. Overseas sales jumped more than 50% in the first quarter as surging oil prices boosted demand for electric cars. Exports accounted for about 45% of BYD’s deliveries in the first quarter, putting it on track to reach its target of selling 1.5 million cars outside China this year. Read More: BYD Showrooms Are Bustling Across Asia After Iran Oil Shock The stock also received a boost Monday on reports BYD had received more than 30,000 pre-orders within the first 24 hours of the launch of its new flagship Great Tang sport utility vehicle. Unveiled at the Beijing auto show , the seven-seater features BYD’s latest blade batteries capable of driving nearly 1,000 kilometers (620 miles) on a single charge and is expected to start at 250,000 yuan. But the shares fell 2.2% to HK$1...
General Motors ( GM ) declares $0.18/share quarterly dividend , in line with previous. Forward yield 0.92% Payable June 18; for shareholders of record June 5; ex-div June 5. See GM Dividend Scorecard, Yield Chart, & Dividend Growth. More on General Motors General Motors: Structural Transformation Underway And Undervalued (Q1 Earnings Preview) General Motors: Why This Auto Stock Could Be The Most I...
General Motors ( GM ) declares $0.18/share quarterly dividend , in line with previous. Forward yield 0.92% Payable June 18; for shareholders of record June 5; ex-div June 5. See GM Dividend Scorecard, Yield Chart, & Dividend Growth. More on General Motors General Motors: Structural Transformation Underway And Undervalued (Q1 Earnings Preview) General Motors: Why This Auto Stock Could Be The Most Interesting One General Motors: Free Cash Flow Hums Along, Raising My Target Again General Motors Non-GAAP EPS of $3.70 beats by $1.08, revenue of $43.62B beats by $70M GM Q1 likely soft on tariffs and tough comps
iQoncept/iStock via Getty Images A rising capital expenditure figure often signals that a company is betting heavily on its own future growth. Below is a list of U.S. large-cap healthcare stocks ranked by their year-over-year CapEx growth percentage, spanning multiple sectors and market capitalizations. Summit Therapeutics ( SMMT ) tops the list with a CapEx growth rate of 372.66% year-over-year, ...
iQoncept/iStock via Getty Images A rising capital expenditure figure often signals that a company is betting heavily on its own future growth. Below is a list of U.S. large-cap healthcare stocks ranked by their year-over-year CapEx growth percentage, spanning multiple sectors and market capitalizations. Summit Therapeutics ( SMMT ) tops the list with a CapEx growth rate of 372.66% year-over-year, investing $657,000 in capital expenditures in fiscal 2025, a figure that is modest in absolute terms but reflects a dramatic scaling up from a near-zero base as the clinical-stage biotech builds out its operational infrastructure around its promising lung cancer candidate ivonescimab. Penumbra ( PEN ) and United Therapeutics ( UTHR ) follow in second and third place with growth rates of 200.86% and 111.16% respectively, while Elanco Animal Health ( ELAN ) and Alnylam Pharmaceuticals ( ALNY ) round out the top five at 87.76% and 71.24%. Amgen ( AMGN ) and Natera ( NTRA ) occupy the sixth and seventh positions with CapEx growth of 69.53% and 59.87%, while Revolution Medicines ( RVMD ) and Eli Lilly ( LLY ) follow at 55.12% and 55.02%. Insulet Corporation ( PODD ) rounds out the list at 53.40%, with its $219.4 million in 2025 CapEx reflecting the build-out of new manufacturing plants in Malaysia and Costa Rica to support 30%-plus unit volume growth in its Omnipod insulin delivery system. All 10 stocks on this list carry Hold ratings ranging from 2.69 to 3.36 , a signal that the quant models view healthcare CapEx expansion as largely priced in without clear fundamental outliers in either direction. Here is the list: Summit Therapeutics Inc. ( SMMT ), CapEx growth YoY: 372.66% Penumbra, Inc. ( PEN ), CapEx growth YoY: 200.86% United Therapeutics Corporation ( UTHR ), CapEx growth YoY: 111.16% Elanco Animal Health Incorporated ( ELAN ), CapEx growth YoY: 87.76% Alnylam Pharmaceuticals, Inc. ( ALNY ), CapEx growth YoY: 71.24% Amgen Inc. ( AMGN ), CapEx growth YoY: 69.53% Natera, I...
Rivian (NASDAQ: RIVN) CEO RJ Scaringe made $403 million last year. Given the EV company’s financial results and the fact that the stock is down to the point it has ruined the investment of long-term shareholders, that seems excessive. Scaringe received $373.5 million in option awards, more than $26.6 million in stock awards, and about ... Rivian CEO Makes $403 Million
Rivian (NASDAQ: RIVN) CEO RJ Scaringe made $403 million last year. Given the EV company’s financial results and the fact that the stock is down to the point it has ruined the investment of long-term shareholders, that seems excessive. Scaringe received $373.5 million in option awards, more than $26.6 million in stock awards, and about ... Rivian CEO Makes $403 Million
NicoElNino Optical and networking stocks came under pressure in premarket trading Tuesday, led by continued weakness in POET Technologies ( POET ) after the stock’s ~47% collapse in the prior session tied to cancelled purchase orders. On Monday, POET Technologies—a provider of integrated photonic solutions for AI and optical networking—said that Celestial AI had cancelled all outstanding purchase ...
NicoElNino Optical and networking stocks came under pressure in premarket trading Tuesday, led by continued weakness in POET Technologies ( POET ) after the stock’s ~47% collapse in the prior session tied to cancelled purchase orders. On Monday, POET Technologies—a provider of integrated photonic solutions for AI and optical networking—said that Celestial AI had cancelled all outstanding purchase orders. Marvell Technology ( MRVL ), which owns Celestial AI, provided written notice of the cancellation to the company on April 23, 2026. POET ( POET ) fell another ~2.8% premarket today, extending what is now a sharp drawdown and reinforcing concerns around demand visibility. The weakness spilled across the broader peer group despite otherwise strong factor profiles. Coherent ( COHR ) and Credo Technology ( CRDO ) both declined 1.7% and 5.8% premarket, respectively. Applied Optoelectronics ( AAOI ) -3.1%, Lumentum ( LITE ) -2.9%, and Ciena ( CIEN ) -1.4% also traded lower. Against this backdrop, here’s a look at recent performance across a range of optical, networking, and related infrastructure names, along with their Quant Ratings: POET Technologies ( POET ): -37.74% (5D), +25.59% (YTD), Quant Rating: Strong Buy Coherent ( COHR ): -8.26% (5D), +74.20% (YTD), Quant Rating: Hold Credo Technology Group ( CRDO ): -4.74% (5D), +25.44% (YTD), Quant Rating: Strong Buy Lumentum ( LITE ): -1.59% (5D), +133.23% (YTD), Quant Rating: Strong Buy Ciena ( CIEN ): +1.48% (5D), +116.50% (YTD), Quant Rating: Hold Applied Optoelectronics ( AAOI ): -2.44% (5D), +318.19% (YTD), Quant Rating: Hold Arista Networks ( ANET ): -2.96% (5D), +31.63% (YTD), Quant Rating: Hold Fabrinet ( FN ): -0.77% (5D), +50.40% (YTD), Quant Rating: Strong Buy Corning Incorporated ( GLW ): -0.44% (5D), +91.88% (YTD), Quant Rating: Hold Amphenol Corporation ( APH ): +0.34% (5D), +9.99% (YTD), Quant Rating: Hold Pressure appears to be concentrated in higher-beta AI optical names, while more diversified infrastructu...
undefined China’s automotive industry entered 2026 under mounting strain, as a bruising price war , chronic overcapacity and the high cost of an electric-vehicle (EV) transition left many carmakers selling more cars while making less money — or none at all. The pressure is visible in the latest annual reports from Chinese carmakers, where strong deliveries no longer guaranteed stronger earnings. E...
undefined China’s automotive industry entered 2026 under mounting strain, as a bruising price war , chronic overcapacity and the high cost of an electric-vehicle (EV) transition left many carmakers selling more cars while making less money — or none at all. The pressure is visible in the latest annual reports from Chinese carmakers, where strong deliveries no longer guaranteed stronger earnings. Even industry leaders such as BYD Co. Ltd. ( 002594.SZ ) posted declining profits in 2025, while state-owned giants such as Guangzhou Automobile Group Co. Ltd. ( 601238.SH ) (GAC) and SAIC Motor Corp. Ltd. ( 600104.SH ) continued to wrestle with the erosion of once-lucrative joint-venture businesses. Newer EV-makers, meanwhile, are struggling to prove they can generate sustainable profits without relying on outside capital or one-off gains.
Curbline Properties Corp. press release ( CURB ): Q1 FFO of $0.28 beats by $0.01 . Q1 GAAP EPS of $0.03 Revenue of $57.99M (+49.8% Y/Y) beats by $2.77M . The Company has updated its guidance for net income attributable to Curbline for 2026 to be from $0.29 to $0.36 per diluted share and Operating FFO to be from $1.20 to $1.23. Net income attributable to Curbline $0.32 — $0.40 $0.29 — $0.36 Depreci...
Curbline Properties Corp. press release ( CURB ): Q1 FFO of $0.28 beats by $0.01 . Q1 GAAP EPS of $0.03 Revenue of $57.99M (+49.8% Y/Y) beats by $2.77M . The Company has updated its guidance for net income attributable to Curbline for 2026 to be from $0.29 to $0.36 per diluted share and Operating FFO to be from $1.20 to $1.23. Net income attributable to Curbline $0.32 — $0.40 $0.29 — $0.36 Depreciation and amortization of real estate, net 0.85 — 0.81 0.90 — 0.86 FFO attributable to Curbline (NAREIT) $1.17 — $1.21 $1.19 — $1.22 Transaction and other costs, net (reported actual) N/A 0.01 Operating FFO attributable to Curbline $1.17 — $1.21 $1.20 — $1.23 Click to enlarge More on Curbline Properties Corp. Curbline Properties Corp. 2025 Q4 - Results - Earnings Call Presentation Curbline Properties Corp. (CURB) Q4 2025 Earnings Call Transcript Curbline Properties prices $204M stock offering Curbline Properties plans public offering of common stock Seeking Alpha’s Quant Rating on Curbline Properties Corp.
Bet_Noire/iStock via Getty Images I previously rated ASML Holding N.V. ( ASML ) ( ASMLF ) as a Hold in February 2026, with the overly done rally/premium valuations already negating the robust increase in its bookings/backlogs for the next-gen lithography offerings. In this article, I shall discuss why ASML remains a Hold despite the robust tailwind from the multi-year cloud spending trends. ASML P...
Bet_Noire/iStock via Getty Images I previously rated ASML Holding N.V. ( ASML ) ( ASMLF ) as a Hold in February 2026, with the overly done rally/premium valuations already negating the robust increase in its bookings/backlogs for the next-gen lithography offerings. In this article, I shall discuss why ASML remains a Hold despite the robust tailwind from the multi-year cloud spending trends. ASML Proves Its AI Beneficiary Status ASML 1Y Stock Price ( TradingView) Since my last Hold rating, ASML has mostly traded sideways at +0.91% compared to the wider market at +2.7%, with it naturally lending credence to the caution offered in my last article. The sluggish stock price movement is also indicative of the premium previously embedded in its stock valuations from the overly done January 2026 rally, despite the lifting AI sentiments as the market enters the promising Q1'26 earnings season. 1. Durability of AI Spending Trends For now, the two godfathers of the AI boom, ASML and Taiwan Semiconductor Manufacturing ( TSM ), already reiterate the durability of the multi-year cloud super cycle as the six largest US hyperscalers also guide approximately $700B in capital expenditure in 2026, " nearly six times 2022 levels ." Particularly, the outsized spending trends are relatively well split between the logic and memory segments, as observed in ASML's net system sales, "almost equally split between Logic at 49% and Memory at 51% " in FQ1'26. This development is unsurprising indeed, as TSM reports very tight capacity and a "higher overall capacity utilization rate ," along with the growing demand for high-tech 3nm/5nm offerings at 61% of its FQ1'26 revenues ( +3 points YoY ). Readers may also want to note that a similar cadence has been reported by Micron ( MU ), attributed to the " increase in memory demand driven by AI, structural supply constraints," along with the ongoing sampling of their next-gen HBM4 offering in 2026 and the volume ramp of HBM4E in 2027. With the litho/se...
shih-wei/E+ via Getty Images Investment Manager Discussion The convertible market enters the second quarter navigating a complex investment landscape. Conflict in the Middle East, private equity valuation pressures, and the accelerating disruption that AI is introducing to software and knowledge-based businesses each present their own set of risks. The Middle East conflict has the broadest implica...
shih-wei/E+ via Getty Images Investment Manager Discussion The convertible market enters the second quarter navigating a complex investment landscape. Conflict in the Middle East, private equity valuation pressures, and the accelerating disruption that AI is introducing to software and knowledge-based businesses each present their own set of risks. The Middle East conflict has the broadest implications, with the potential to influence the path of inflation, economic growth, and monetary and fiscal policies. Even if current geopolitical tensions subside quickly, fall midterm elections are approaching and carry significant fiscal policy implications. Because convertibles combine attributes of stocks and fixed-income securities, we believe they can continue to provide attractive strategic benefits in an environment characterized by hard-to-predict and rapidly moving geopolitical and macro crosscurrents. However, disciplined monitoring, portfolio flexibility and active management focused on fundamentals will be essential for navigating this environment. Our overall focus remains on identifying resilient thematic growth trends, bottom-up company selection, and active rebalancing of security-specific risk/reward trade-offs across the portfolio. We maintain our preference for convertible structures that provide favorable asymmetric payoff profiles—that is, offering attractive levels of upside equity participation with less exposure to downside moves. We continue to emphasize companies with improving margins and free cash flow, accelerating returns on invested capital, and attractive equity valuations. Information technology and industrials are CICVX's two largest sector allocations and represent the fund's most significant relative overweights. Within these sectors, we are investing in companies at the forefront of AI data center construction and power delivery, as well as the connectivity infrastructure that supports them. This is a structural, multiyear investment cycle ...
Amazon, Salesforce, and Alphabet are each building distinct positions in agentic AI through infrastructure, enterprise software, and vertical integration.
Amazon, Salesforce, and Alphabet are each building distinct positions in agentic AI through infrastructure, enterprise software, and vertical integration.
(RTTNews) - Spotify Technology S.A. (SPOT, 639.DE, 1SPOT.MI) reported first quarter net income attributable to owners of the parent of 721 million euros compared to 225 million euros, prior year. Earnings per share was 3.45 euros compared to 1.07 euros. Operating income was 715 m
(RTTNews) - Spotify Technology S.A. (SPOT, 639.DE, 1SPOT.MI) reported first quarter net income attributable to owners of the parent of 721 million euros compared to 225 million euros, prior year. Earnings per share was 3.45 euros compared to 1.07 euros. Operating income was 715 m