Revised figures increase fears about how the energy-intensive sites could worsen the climate emergency The UK government vastly underestimated the climate impact of artificial intelligence, it has emerged, after officials raised their estimate of carbon emissions from the technology by a factor of more than 100. According to new data quietly published this week, energy use by AI datacentres in the...
Revised figures increase fears about how the energy-intensive sites could worsen the climate emergency The UK government vastly underestimated the climate impact of artificial intelligence, it has emerged, after officials raised their estimate of carbon emissions from the technology by a factor of more than 100. According to new data quietly published this week, energy use by AI datacentres in the UK could cause the emission of up to 123m tonnes of carbon dioxide (MtCO₂) – about as much as generated by 2.7 million people – over the next 10 years. Continue reading...
Analysts from JPMorgan and BNP Paribas highlighted Adobe Inc’s strengthening AI strategy and monetization outlook, while also pointing to growing industry validation—including from NVIDIA Corp. JPMorgan Sees Stronger AI Positioning and Upside JPMorgan analyst Mark R. Murphy maintained an Overweight rating on Adobe with a $420 price forecast on Wednesday, saying the firm left the Summit “incrementa...
Analysts from JPMorgan and BNP Paribas highlighted Adobe Inc’s strengthening AI strategy and monetization outlook, while also pointing to growing industry validation—including from NVIDIA Corp. JPMorgan Sees Stronger AI Positioning and Upside JPMorgan analyst Mark R. Murphy maintained an Overweight rating on Adobe with a $420 price forecast on Wednesday, saying the firm left the Summit “incrementally more positive” on Adobe’s positioning in the agentic AI era. He pointed to Adobe’s strategy of a
While SLB claimed in January that its struggles in key regions were over, Friday’s earnings report signaled that the oilfield servcies provider is still facing headwinds. CEO Olivier Le Peuch said SLB had “a challenging start to the year” becuase of the Iran war, with a pronounced impact on its well construction and reservoir performance divisions. “SLB demobilized operations in a number of countr...
While SLB claimed in January that its struggles in key regions were over, Friday’s earnings report signaled that the oilfield servcies provider is still facing headwinds. CEO Olivier Le Peuch said SLB had “a challenging start to the year” becuase of the Iran war, with a pronounced impact on its well construction and reservoir performance divisions. “SLB demobilized operations in a number of countries in response to customer actions to safeguard personnel and facilities,” Le Peuch said.
J Studios/DigitalVision via Getty Images Investment Thesis Over the last year, some companies have been crushed due to various internal or external factors that may be overblown. Below are a list of companies with relatively strong or appealing valuations at their current price levels that may warrant further investigation to see if you should take a small speculative position on a potential turna...
J Studios/DigitalVision via Getty Images Investment Thesis Over the last year, some companies have been crushed due to various internal or external factors that may be overblown. Below are a list of companies with relatively strong or appealing valuations at their current price levels that may warrant further investigation to see if you should take a small speculative position on a potential turnaround. Given that these companies have experienced massive selloffs recently, investor sentiment is near all time lows and the momentum may be working against you for the foreseeable future. Further, these investments may be value traps, but they could also rebound for a nice return once sentiment shifts or the companies start performing better in their underlying businesses. I believe when investors are running for the exit in equities, there's a chance you can find a great company at a decent price for longterm capital appreciation. PayPal Holdings Inc., ( PYPL ) Market Cap : $44.76B Total Debt: $12.3B Cash on hand: $10.42B Ratings summary and quant factor grades of PYPL as of April 24th, 2026. (Seeking Alpha) PYPL has been beaten down over the last couple of years, with l arge declines following some earnings reports, and faces many headwinds with their underlying business that has worsened investor sentiment significantly. As of April 24th, they are down about 15% YTD and 81% on a 5 year basis. They currently hold a " sell " quant rating but a " buy " for analysts on Seeking Alpha. PYPL recently underwent management changes with the ousting of their last CEO and this is a turnaround play. However, there is activist interest , large cash positions, and a large buyback program which may help find a bottom in this stock. Earnings are upcoming at the beginning of May and I expect the company to continue struggling in the short-term while the new CEO who started in March gets acquainted. However, I will be looking for commentary on Venmo and how they have continued to make i...
Roman Tiraspolsky/iStock Editorial via Getty Images Shares of Charter Communications ( CHTR ) have been a very poor performer over the past year, losing over 40% of their value. Markets have grown concerned about competition in broadband and potential ongoing subscriber losses there. Indeed, soft Q1 broadband results pushed shares over 15% lower in early trading Friday. The large size of its debt ...
Roman Tiraspolsky/iStock Editorial via Getty Images Shares of Charter Communications ( CHTR ) have been a very poor performer over the past year, losing over 40% of their value. Markets have grown concerned about competition in broadband and potential ongoing subscriber losses there. Indeed, soft Q1 broadband results pushed shares over 15% lower in early trading Friday. The large size of its debt load has also likely played a role, though I believe this concern is overstated. I last covered shares in January , rating the stock a “ S trong Buy” as I believe sentiment is far too negative relative to underlying fundamentals, creating a disjointed valuation. Coming into this release, shares had recovered about 14%, though Friday eliminated all of that recovery. With updated financials, now is a good time to review CHTR and see where shares are headed next. Seeking Alpha In the company’s first quarter , Charter Communications earned $9.17 per share, which was $0.91 below expectations as revenue declined 1% from last year to $13.6 billion. This was still up 9% from last year, aided by share buybacks. EBITDA fell 2% to $5.6 billion as margins compressed 50bps to 41.5% given higher operating expenses. Residential revenue was down 2.7%, whereas commercial revenue grew 1%. The magnitude of the EPS miss is surprising, as top-line results were not that different. However, a higher tax rate was a $0.21 detractor, and one-time expenses were another ~$0.20 headwind. These two factors, which are typically excluded from estimates, drove half of the variance. Charter While revenue declines are rarely good to see and can add to “melting ice cube” fears, I am a bit more sanguine about the situation here. I would note that while revenue fell $138 million, the programming costs in video fell by $214 million. As video subscribers have declined (or those who stay have cut packages), CHTR’s programming fees drop. A good portion of a cable bill is essentially a pass-through payment to the me...
rypson JetBlue ( JBLU ) is being sued by a customer for engaging in “surveillance pricing” for using personal browsing history to set ticket prices, a practice that has become more prevalent with the use of artificial intelligence algorithms. According to New York resident Andrew Phillips, the carrier tracked and collected his online search activity as he was looking for competitive airfares, usin...
rypson JetBlue ( JBLU ) is being sued by a customer for engaging in “surveillance pricing” for using personal browsing history to set ticket prices, a practice that has become more prevalent with the use of artificial intelligence algorithms. According to New York resident Andrew Phillips, the carrier tracked and collected his online search activity as he was looking for competitive airfares, using the information to adjust its pricing schedule. Surveillance pricing “allowed the defendant to manipulate prices in real time in order to make as much money as they can on fares for airline tickets” without the customers’ consent, Phillips’ class action lawsuit alleges, noting that when a consumer searches for airline tickets and then closes the browser window, the prices increase when the consumer seeks to “re-engage” with purchasing. Although JetBlue ( JBLU ) denied it engaged in this practice, it seemingly admitted doing just that in an exchange with another customer who complained about the increased cost of a ticket. “I love flying JetBlue but a $230 increase on a ticket after one day is crazy,” a user wrote on X, to which JetBlue responded, “Try clearing your cache and cookies or booking with an incognito window.” The incriminating post by the carrier was subsequently deleted. Philips is seeking damages from the airline for allegedly violating the Electronic Communications Privacy Act and two New York consumer protection laws. More on JetBlue Airways JetBlue: A Risky Bet In A Fragile Sky JetBlue Airways Corporation (JBLU) Presents at JPMorgan Industrials Conference 2026 - Slideshow JetBlue Airways Corporation (JBLU) Presents at JPMorgan Industrials Conference 2026 Transcript Vladimir Galkin discloses an active stake in JetBlue and Spirit United Airlines cuts 2026 forecast on fuel costs, ranks only fifth among U.S. airlines by Quant
Readers respond to Daniel Trilling’s article asking if fascism is making a comeback As an analysis of rightwing populism, Daniel Trilling’s argument works well enough ( The impossible promise: are we witnessing the return of fascism?, 18 April ). We cannot assume that fascism will always take the same form, rather than adapt to, and try to provide answers to, events as they unfold. Fascism might b...
Readers respond to Daniel Trilling’s article asking if fascism is making a comeback As an analysis of rightwing populism, Daniel Trilling’s argument works well enough ( The impossible promise: are we witnessing the return of fascism?, 18 April ). We cannot assume that fascism will always take the same form, rather than adapt to, and try to provide answers to, events as they unfold. Fascism might best be seen as history’s punishment for the failed universalism of the Enlightenment project – the failure to deliver on the promise of universal equality. The resurgence of the far right is a reactionary response to the broken promises of social democracy. Working-class supporters of the far right, having seen the fight for equality for all replaced with a neoliberal war of all against all, simply adopt the logic of the day. Continue reading...
Readers respond to the Guardian’s picture essay showing a year in the life of London zoo vets We were pleased by your article on the important work of zoo vets ( From sleeping lions to spitting snakes: a year in the life of London zoo vets, 19 April ). Our father, Calvert Appleby, worked as a vet at Edinburgh zoo from 1948 to 1959, before moving to the Royal Veterinary College in London. His first...
Readers respond to the Guardian’s picture essay showing a year in the life of London zoo vets We were pleased by your article on the important work of zoo vets ( From sleeping lions to spitting snakes: a year in the life of London zoo vets, 19 April ). Our father, Calvert Appleby, worked as a vet at Edinburgh zoo from 1948 to 1959, before moving to the Royal Veterinary College in London. His first few years were as a PhD student of veterinary pathology with the Dick veterinary school while also active in the zoo, before being fully employed there from 1951, so he might have claimed to predate Oliver Graham-Jones, who your article says became “Britain’s first dedicated zoo vet” at London zoo that year. For these pioneering vets, some animal physiology was unknown, so experimental treatments were necessary. A crocodile with an abscess was anaesthetised with chloroform (via a huge cotton-wool ball on a long pole), but sadly didn’t survive. It wasn’t known then that reptiles couldn’t cope with chloroform. Appleby later received an award from a learned society for his pioneering work on reptiles and amphibians. He had many other stories, often successes, but also including the huge efforts made to move a sick camel indoors one winter’s day, only for the camel to stagger to its feet and return to the bottom of the paddock. Continue reading...
Gary Yeowell/DigitalVision via Getty Images The U.S. economy may not be fully in the clear just yet, but three consecutive manufacturing PMI numbers above 50 are definitely encouraging for machinery names like Westinghouse Air Brake Technologies Corporation ( WAB ) (better known as “Wabtec”) that have traditionally outperformed when the manufacturing PMI moves back above 50. What’s more, this lead...
Gary Yeowell/DigitalVision via Getty Images The U.S. economy may not be fully in the clear just yet, but three consecutive manufacturing PMI numbers above 50 are definitely encouraging for machinery names like Westinghouse Air Brake Technologies Corporation ( WAB ) (better known as “Wabtec”) that have traditionally outperformed when the manufacturing PMI moves back above 50. What’s more, this leading player in rail equipment and services is seeing meaningful orders from major customers, building a backlog that helps reduce near-term earnings risk. Wabtec shares have risen about 65% since my last update , largely matching the broader industrial space until multiple order announcements earlier in 2026 started driving meaningful outperformance. I’d also note that the shares have been outperforming other rivals like Knorr-Bremse ( KNRRY ) and Stadler ( SRAIF ), though Knorr-Bremse too had been tracking in line with Wabtec until relatively recently. Strong orders and general bullishness about the prospects of a freight volume recovery have certainly helped the shares already. I can’t say that this is a fundamentally undervalued name today, but it is leveraged to improve end markets and still offers self-help in areas like margin expansion. A Mixed Q1 On Reported Results, But The Order Book Continues To Grow Reported results for Wabtec’s first quarter weren’t all that exceptional, but they did exceed Street expectations at the earnings lines, and between management’s guidance commentary and a growing backlog, I don’t see a lot of ongoing headwinds from this report. Revenue rose 13% as reported, but organic growth was closer to 2% and was slightly below Street expectations. Freight revenue rose 1% in organic terms, missing by 3%, with weaker Service revenue (down 17% as reported), but strong Equipment (up 53%) and Digital (up 76%) boosted by acquisitions. Transit revenue rose more than 5% in organic terms, beating by 8%, with a good balance between new equipment and afterm...
estt/iStock via Getty Images Introduction & Investment Thesis The software sector ( IGV ) again came under fire yesterday, with ServiceNow ( NOW ) shares dropping 17% after its Q1 FY26 earnings , dragging the whole sector down with it. As I wrote in my previous post , 2026 has been an extremely challenging year for software, as Agentic AI (with Anthropic Claude Cowork and OpenAI Frontier) is rewri...
estt/iStock via Getty Images Introduction & Investment Thesis The software sector ( IGV ) again came under fire yesterday, with ServiceNow ( NOW ) shares dropping 17% after its Q1 FY26 earnings , dragging the whole sector down with it. As I wrote in my previous post , 2026 has been an extremely challenging year for software, as Agentic AI (with Anthropic Claude Cowork and OpenAI Frontier) is rewriting the software tech stack, whereby the classic system of records gets pushed down the stack and the incremental value created is directed towards AI agents, thus disrupting the predictable “seat-based” pricing model of SaaS companies. In fact, just as we started seeing early signs of a bottoming in the software sector, it was soon hit by yet another rock in early April when Anthropic launched its Managed Agents platform, threatening the agentic platform roadmap of the whole industry, including Salesforce’s Agentforce ( CRM ), ServiceNow’s Now Assist, and Workday’s Workday Build ( WDAY ), among others. While the industry staged an impressive rally post April 10, outperforming the S&P 500 ( SP500 ), I warned that the reversal in sentiment had likely been triggered by the severe undervaluation in the software segment and that at a fundamental level, we still needed a couple/few quarters of accelerating RPO (Remaining Performance Obligations), strengthening NRR (Net Retention Rate), and stable margins across companies to help investors find footing on how to value the sector and the companies within it. Unfortunately, ServiceNow’s Q1 FY26 earnings failed to deliver on the above fundamental metrics, with cRPO (Current Remaining Performance Obligations) projected to decline in the coming quarter, along with management reducing their guidance on gross margins. Even their FY26 subscription revenue raise came with footnotes that we will discuss later. In certain ways, the software industry is increasingly starting to look like PayPal ( PYPL ) as the stock never recovered and rema...
Readers respond to an article suggesting Justin Trudeau was too old to attend Coachella While I appreciate that Emma Brockes’ article was slightly tongue-in-cheek, I do reject the premise that there are aspects of modern culture that should be “off-limits” as you get older ( Justin Trudeau at Coachella? That’s just wrong: at a certain age, things must change, 16 April ). I am 57, absolutely love d...
Readers respond to an article suggesting Justin Trudeau was too old to attend Coachella While I appreciate that Emma Brockes’ article was slightly tongue-in-cheek, I do reject the premise that there are aspects of modern culture that should be “off-limits” as you get older ( Justin Trudeau at Coachella? That’s just wrong: at a certain age, things must change, 16 April ). I am 57, absolutely love dancing and clubs (although I rarely go), and I think this raises the question of whether it’s OK to maintain what is, essentially, a product of societal expectations and mores which are moving on. I went with my wife and 16-year-old daughter to the Reading festival last year. We left our daughter to enjoy the festival with friends as she wanted independence – we were on hand “just in case”, and it meant she had a safe tent to return to at whatever time of night she chose. Continue reading...