Morgan Stanley Chief US Equity Strategist and CIO Mike Wilson says this earnings recovery is stronger than many people think. He speaks on Bloomberg Open Interest. (Source: Bloomberg)
Morgan Stanley Chief US Equity Strategist and CIO Mike Wilson says this earnings recovery is stronger than many people think. He speaks on Bloomberg Open Interest. (Source: Bloomberg)
Gary Yeowell/DigitalVision via Getty Images Summary Wynn Resorts ( WYNN ) is facing renewed competition within Macau, which could hurt margins. In addition, its highly anticipated UAE integrated resort, Al Marjan, which is expected to come online in 1H27, may not be a significant game-changing EBITDA driver for the company as a whole. We believe the share price is fairly valued at these levels. Fo...
Gary Yeowell/DigitalVision via Getty Images Summary Wynn Resorts ( WYNN ) is facing renewed competition within Macau, which could hurt margins. In addition, its highly anticipated UAE integrated resort, Al Marjan, which is expected to come online in 1H27, may not be a significant game-changing EBITDA driver for the company as a whole. We believe the share price is fairly valued at these levels. Forward EBITDA growth estimates are only at +1.6% vs. +5% for the sector average. Wynn Resorts: global gaming operator Wynn Resorts ( WYNN ) is a leading integrated gaming resort operator with two properties in Macau, two in Las Vegas, and one in Boston. Wynn's gaming properties are aimed at the higher-spending premium player in terms of providing luxurious hotel amenities coupled with high-end retail and food/beverage offerings. As a percentage of EBITDAR in 2025, Wynn's USA operations comprised 51% of the group's total compared to 50% of the total in 2024. 2025 saw EBITDAR fall in Macau and Las Vegas, mainly due to lower casino hold percentages , meaning players were lucky and won at a higher than typical theoretical rate. Management guided on the 4Q25 earnings call that Las Vegas EBITDAR would have been up flat to up low single digits yoy if normalizing these theoretical rates. Overall, I suspect that Wynn's gaming and hotel businesses remain healthy with positive volume growth. EBITDAR USD '000 2024 2025 yoy Wynn Macau 441,852 402,125 -9% Wynn Palace 733,710 682,900 -7% Total Macau 1,175,562 1,085,025 -8% Las Vegas 946,762 902,405 -5% Boston 247,128 236,721 -4% Total USA 1,193,890 1,139,126 -5% Total 2,369,452 2,224,151 -6% Click to enlarge LVS issued a warning sign recently The premium gaming segment is the fastest growing in Macau, with all six gaming operators targeting the same class of higher spending customer. This results in margin pressure and lower earnings for the gaming operators. On April 23, LVS released earnings and specifically mentioned that the premium ga...
We just covered the 15 AI Stocks That Could Break the Trillion Dollar Barrier and Palantir Technologies Inc. (NASDAQ:PLTR) ranks 6th on this list. Palantir Technologies Inc. (NASDAQ:PLTR) is one of the AI stocks that could break the trillion dollar barrier. The firm’s AIP (Artificial Intelligence Platform) boot camps have revolutionized the sales cycle. These […]
We just covered the 15 AI Stocks That Could Break the Trillion Dollar Barrier and Palantir Technologies Inc. (NASDAQ:PLTR) ranks 6th on this list. Palantir Technologies Inc. (NASDAQ:PLTR) is one of the AI stocks that could break the trillion dollar barrier. The firm’s AIP (Artificial Intelligence Platform) boot camps have revolutionized the sales cycle. These […]
lucky-photographer Wall Street's major averages were mixed on Friday as investors digested the latest developments in the Middle East, including a three-week extension to the truce between Israel and Lebanon. The benchmark S&P 500 ( SP500 ) was last +0.2%, while the heavy-tech Nasdaq Composite ( COMP:IND ) was +0.5%. Meanwhile, the blue-chip Dow was -0.3%. Treasury yields were muted across the cur...
lucky-photographer Wall Street's major averages were mixed on Friday as investors digested the latest developments in the Middle East, including a three-week extension to the truce between Israel and Lebanon. The benchmark S&P 500 ( SP500 ) was last +0.2%, while the heavy-tech Nasdaq Composite ( COMP:IND ) was +0.5%. Meanwhile, the blue-chip Dow was -0.3%. Treasury yields were muted across the curve. The 10-year Treasury yield ( US10Y ) was 1 basis point higher at 4.34%, while the 2-year Treasury yield ( US2Y ) dropped 1 basis point to 3.84%. U.S. President Donald Trump announced that the ceasefire between Israel and Lebanon will be extended for another three weeks after hosting ambassadors of both countries in Washington. "The meeting went very well! The United States is going to work with Lebanon in order to help it protect itself from Hezbollah. The ceasefire between Israel and Lebanon will be extended by THREE WEEKS," he said via Truth Social. Trump also ordered the U.S. Navy to “shoot and kill” any vessel found placing mines in the Strait of Hormuz, adding that there will be "no hesitation." Moreover, Iran’s Islamic Revolutionary Guard Corps navy laid more mines in the Strait of Hormuz this week, according to a report by Axios. Crude oil futures ( CL1:COM ) stayed higher at $95, while Brent ( CO1:COM ) was last around $105 per barrel. On the economy, the Consumer Sentiment Index was revised up in April—to 49.8 from the initial 47.6 and 53.3 in March—according to the University of Michigan Survey of Consumers. More on the markets Markets Are Stuck In The Waiting For U.S.-Iran Talks AAII Sentiment Survey: Optimism Roars Confidence In 'Rules Of The Game' Iran rejects second round of U.S. talks, cites ‘excessive’ American demands
We just covered the 15 AI Stocks That Could Break the Trillion Dollar Barrier and Intel Corporation (NASDAQ:INTC) ranks 5th on this list. Intel Corporation (NASDAQ:INTC) is one of the AI stocks that could break the trillion dollar barrier. The company is making every effort to transform the legacy trap image into one that promises […]
We just covered the 15 AI Stocks That Could Break the Trillion Dollar Barrier and Intel Corporation (NASDAQ:INTC) ranks 5th on this list. Intel Corporation (NASDAQ:INTC) is one of the AI stocks that could break the trillion dollar barrier. The company is making every effort to transform the legacy trap image into one that promises […]
watch now VIDEO 4:59 04:59 Iran FM may arrive in Pakistan tonight, second round of U.S.-Iran talks expected: Reports Squawk Box Iran 's Foreign Minister Abbas Araghchi is expected to head to Islamabad Friday night to discuss the next steps in stalled peace negotiations with the U.S., a Pakistani official involved in the matter told MS NOW. Araghchi and a small team are expected to talk with Pakist...
watch now VIDEO 4:59 04:59 Iran FM may arrive in Pakistan tonight, second round of U.S.-Iran talks expected: Reports Squawk Box Iran 's Foreign Minister Abbas Araghchi is expected to head to Islamabad Friday night to discuss the next steps in stalled peace negotiations with the U.S., a Pakistani official involved in the matter told MS NOW. Araghchi and a small team are expected to talk with Pakistani mediators about a potential second round of negotiations with the U.S., said the official, who spoke anonymously due to sensitivities around the topic, according to MS NOW. The first round of peace talks, held nearly two weeks ago in Islamabad and led on the U.S. side by Vice President JD Vance , ended with no deal . A U.S. delegation including Vance was expected to head back to Pakistan earlier this week for further negotiations, but the trip was delayed as Iranian officials reportedly said they would not show up. Much of the mutual prickliness has centered on the Strait of Hormuz, the major oil-shipping route that has seen traffic slow to a trickle amid Iranian threats and, as of last week, a retaliatory U.S. naval blockade. The tensions have further strained an already-fragile ceasefire, which was announced April 7 amid threats by President Donald Trump that Iran's "whole civilization will die" unless a deal is struck. Despite the continued stress in the strait, Trump on Tuesday unilaterally extended the ceasefire shortly before it was set to expire. After the war started on Feb. 28, the Trump administration repeatedly said that it expected operations to be brief and to conclude within four to six weeks. Since passing that deadline, the administration has reframed its timeline, while stressing that prior U.S. conflicts have lasted far longer. "Unlike the endless wars of the past that dragged on for years and for decades with little to show for it, Operation Epic Fury has delivered a decisive military result in just weeks," Defense Secretary Pete Hegseth said at a pre...
Seche Environment press release ( SECVY ): Q1 Revenue of $311.3M (+5.2% Y/Y). More on Seche Environment Séché Environnement SA 2025 Q4 - Results - Earnings Call Presentation Historical earnings data for Seche Environment Dividend scorecard for Seche Environment Financial information for Seche Environment
Seche Environment press release ( SECVY ): Q1 Revenue of $311.3M (+5.2% Y/Y). More on Seche Environment Séché Environnement SA 2025 Q4 - Results - Earnings Call Presentation Historical earnings data for Seche Environment Dividend scorecard for Seche Environment Financial information for Seche Environment
We just covered the 15 AI Stocks That Could Break the Trillion Dollar Barrier and Advanced Micro Devices, Inc. (NASDAQ:AMD) ranks 4th on this list. Top investors on Wall Street are betting that 2026 will be the year that Advanced Micro Devices, Inc. (NASDAQ:AMD) finally breaks NVIDIA’s near-monopoly on high-end AI training. The launch of […]
We just covered the 15 AI Stocks That Could Break the Trillion Dollar Barrier and Advanced Micro Devices, Inc. (NASDAQ:AMD) ranks 4th on this list. Top investors on Wall Street are betting that 2026 will be the year that Advanced Micro Devices, Inc. (NASDAQ:AMD) finally breaks NVIDIA’s near-monopoly on high-end AI training. The launch of […]
Apple (NasdaqGS:AAPL) has been named in a new federal lawsuit alleging violations of the Americans with Disabilities Act and consumer protection laws. The complaint claims Apple Pay was used to facilitate rapid online gambling transactions tied to third-party platforms. The lawsuit alleges predatory gambling practices targeting a vulnerable individual with documented disabilities and mental health...
Apple (NasdaqGS:AAPL) has been named in a new federal lawsuit alleging violations of the Americans with Disabilities Act and consumer protection laws. The complaint claims Apple Pay was used to facilitate rapid online gambling transactions tied to third-party platforms. The lawsuit alleges predatory gambling practices targeting a vulnerable individual with documented disabilities and mental health crises. Claims include alleged breaches of the ADA and California's Unruh Civil Rights Act,...
The Invesco QQQ Income Advantage ETF ( QQA ) is a passive index-fund-like ETF that offers top technology equity or ETF exposure, coupled with ELNs or equity-linked notes and a liquidity reserve that allows the fund managers to employ derivatives leverage as they deem fit for whatever the current market situation might be. Here I'll explain how it's constructed, what its derivative layers enhance o...
The Invesco QQQ Income Advantage ETF ( QQA ) is a passive index-fund-like ETF that offers top technology equity or ETF exposure, coupled with ELNs or equity-linked notes and a liquidity reserve that allows the fund managers to employ derivatives leverage as they deem fit for whatever the current market situation might be. Here I'll explain how it's constructed, what its derivative layers enhance or affect in terms of performance (and how they do so), and what type of investor it's best geared for. The endgame is to give you as much meaningful information as possible so you can make more informed decisions regarding potential use of this ETF. So let's get started. Construction The ETF tracks the NASDAQ-100 Index [NDX], and uses a "full replication" method to make picks for its portfolio, which means whatever funds are earmarked for stock purchases are allocated using the index weightings, so it's nearly identical to the Invesco QQQ Trust, Series 1 ETF ( QQQ )'s composition. There's a skew from the cash equivalents and ELN holdings, which I'll get to in a minute, but otherwise the holdings are just a mirror of QQQ. SA That's the first part of this ETF, and it accounts for the majority of holdings. Then come the cash reserves in the form of liquid assets like money market fund investments or holding treasury obligations. This could be as much as 20% of total assets, and it serves to provide immediate liquidity in a crisis situation and adds interest income to the mix. The equity and cash buffer holdings don't offer any leverage, obviously, so that's achieved by a third ingredient in the form of equity-linked notes, or ELNs. Let's understand this instrument before we move ahead with our study of the ETF, since it's the part that generates the high yield (10% trailing). The Role of Equity-Linked Notes ELNs are combinations of debt and leverage, the leverage part comprising an underlying options play. The "coupon" on the debt you're buying gives you some amount of downsid...
josefkubes/iStock Editorial via Getty Images SAP ( SAP ) shares climbed 6% during early market action on Friday after its first-quarter financial results demonstrated sustained momentum with its products and improving margins related to its cloud business. "SAP's Q1 was a welcome relief after some rather soft peer reportings over the last few days," said Deutsche Bank analysts, led by Johannes Sch...
josefkubes/iStock Editorial via Getty Images SAP ( SAP ) shares climbed 6% during early market action on Friday after its first-quarter financial results demonstrated sustained momentum with its products and improving margins related to its cloud business. "SAP's Q1 was a welcome relief after some rather soft peer reportings over the last few days," said Deutsche Bank analysts, led by Johannes Schaller, in a Friday investor note. "The company reported 25% cc current Cloud backlog (CCB) growth, better than DBe 24% and stable vs. Q4/25 against a guidance for a slight decline this year. This is clearly encouraging and pointing to sustained healthy demand momentum for SAP's solutions. Cloud revenue growth (+27% cc), and especially Cloud ERP suite (+30% cc), remained healthy while Cloud gross margins continued to slightly improve." Deutsche Bank maintained its Buy rating on SAP. The bank is now anticipating the SAP Sapphire conference, which runs from May 11 through 13 in Orlando, to possibly provide another catalyst for the stock. "While we do not expect new mid-term financial guidance (rather some KPIs, modeling building blocks), we believe Sapphire will bring important clarity on SAP's AI strategy and execution," Schaller added. Meanwhile, Jefferies also retained its Buy rating and a $269 price target on the Germany-based enterprise software firm. However, they did mention possible risks related to the Middle East conflict. "First, management is open about not being immune to risks in the Middle East," said Jefferies analysts, led by Charles Brennan, in an investor note. "Specifically, the call mentioned some incremental caution through March/April, and guidance now includes a c.0.5ppt inorganic revenue impact to compensate for softer March/April order trends. Management also alluded to one cancelled contract in April that was never included in CCB, but will negatively affect cloud revenue trends. Second, the message was robust on AI. In particular, SAP is confident t...
~UserGI15994093/iStock via Getty Images By James Picerno Tensions between the US and Iran remain elevated as a fragile ceasefire holds, but the war’s trajectory is still highly uncertain. Assessing risk in real time is difficult given how quickly conditions on the ground are evolving. One practical way to monitor sentiment and expectations in this environment is to track how crude oil trades relat...
~UserGI15994093/iStock via Getty Images By James Picerno Tensions between the US and Iran remain elevated as a fragile ceasefire holds, but the war’s trajectory is still highly uncertain. Assessing risk in real time is difficult given how quickly conditions on the ground are evolving. One practical way to monitor sentiment and expectations in this environment is to track how crude oil trades relative to its history since the war started on February 28. Markets are imperfect, but shifts in oil prices tend to reflect a global, real-time synthesis of information related to the conflict. The supply-side energy shock remains the war’s primary transmission channel, with disruption of oil and gas exports through the Strait of Hormuz driving the key macroeconomic and financial market risks for the global economy. Pricing this risk through oil offers a first-order approximation of how investors are interpreting the conflict’s shifting contours. Oil, in short, functions as a risk indicator - capturing sentiment about the war and the implied level of threat it poses for the global economy. A useful starting point is to frame the risk in terms of the range of oil prices since the attacks began on February 28. Using the US benchmark (West Texas Intermediate), prices have traded between roughly $70 and nearly $120 a barrel. The current level - around $97 (as of April 23) - is near the midpoint of that range. A significant move away from this middle zone toward either extreme, particularly over a period of days or weeks, would likely signal a meaningful shift in expectations about the war’s path. Such a move would also carry implications for the outlook on inflation, economic growth, and broader macro conditions. For now, oil’s relative stability near the center of its war-era range suggests that global investors expect current conditions to persist. The key development to watch is a decisive break - up or down - from this middling zone, which could reflect a material change in th...
Down nearly 20% to start the year, the drop in share price for Chewy 's (NYSE: CHWY) stock looks like it could be a gift for long-term investors. In fact, it looks like one of the most attractively valued growth stocks in the consumer space. Let's look at three reasons to buy the stock for the long term. What differentiates e-commerce companies like Amazon and Chewy from brick-and-mortar retailers...
Down nearly 20% to start the year, the drop in share price for Chewy 's (NYSE: CHWY) stock looks like it could be a gift for long-term investors. In fact, it looks like one of the most attractively valued growth stocks in the consumer space. Let's look at three reasons to buy the stock for the long term. What differentiates e-commerce companies like Amazon and Chewy from brick-and-mortar retailers is that they tend to have more levers to pull to achieve strong operating leverage . Revenue growth is only half the story in retail, and operating leverage is when companies can grow their profits much more quickly than their revenue. Continue reading
Kremlin Hails Putin Invite To G20 Summit In Miami, After Trump Said His Presence 'Very Helpful' The G20 Miami summit is set to take place at Trump National Doral Golf Course and will focus on "unleashing economic prosperity by eliminating burdensome regulations, unlocking affordable energy and pioneering new technologies," according to President Trump's words. Amazingly and quite surprisingly, the...
Kremlin Hails Putin Invite To G20 Summit In Miami, After Trump Said His Presence 'Very Helpful' The G20 Miami summit is set to take place at Trump National Doral Golf Course and will focus on "unleashing economic prosperity by eliminating burdensome regulations, unlocking affordable energy and pioneering new technologies," according to President Trump's words. Amazingly and quite surprisingly, the Russian Foreign Ministry has announced Russia has been invited to take part "at the highest level" - meaning President Vladimir Putin has been invited , per the Kremlin. The actual date is still far away, slated for Dec. 14-15, 2026. G20 image, via Atlantic Council But the fact that this has hit The Washington Post is sure to seriously raise eyebrows among European allies, as well as evoke the ire of Democrats in the US. "President Trump has been clear that Russia is welcome to attend all G20 meetings as the United States focuses on delivering a successful and productive summit," a Kremlin spokesperson said in response to the alleged invitation. Here's what the Washington Post freshly reported : The United States intends to invite Russian President Vladimir Putin to the Group of 20 leaders’ summit scheduled for December at President Donald Trump’s Doral golf resort in Miami, though the invitation has not yet been sent , administration officials said Thursday. Moscow's statements could be in response to what thus far has been only an informal or verbal invite, or in response to the emerging reports this week. Russia's Deputy Foreign Minister Alexander Pankin told journalists at the UN Headquarters that Moscow will confirm who it will send at a later date. Europe would certainly receive it as a shock and surprise, given that Putin is directly banned from entering most European countries, given the International Criminal Court arrest warrant against him. Trump on Thursday had told reporters that he was unaware of any personal invitation to Putin but did stipulate that it woul...
Kelvin Murray/DigitalVision via Getty Images So, since my November article , " Legend Biotech: Is Carvykti Changing Cancer Treatment Forever?, " Legend Biotech Corporation ( LEGN ) stock has traded down 14.9%, underperforming the iShares Biotechnology ETF ( IBB ) (1.5% return), as well as the S&P 500 ( SPY ) (5.1% return). But over the past 4 months, several important events have occurred in the C...
Kelvin Murray/DigitalVision via Getty Images So, since my November article , " Legend Biotech: Is Carvykti Changing Cancer Treatment Forever?, " Legend Biotech Corporation ( LEGN ) stock has traded down 14.9%, underperforming the iShares Biotechnology ETF ( IBB ) (1.5% return), as well as the S&P 500 ( SPY ) (5.1% return). But over the past 4 months, several important events have occurred in the CAR-Ts market. By the way, Legend is one of the leaders in it. First of all, on February 23 , Gilead ( GILD ), as you know, announced its acquisition of Arcellx ( ACLX ) for $7.8 billion. They are developing anito-cel, an anti-BCMA CAR T-cell agent , which has the same mechanism of action as Legend/J&J's Carvykti ( JNJ ). Source: Table was made by Author However, unlike Carvykti, anito-cel is still awaiting FDA approval, with a PDUFA of December 23. And here I want to remind you that on December 9, 2022 , when Arcellx and Gilead first announced the collaboration, its terms were almost identical to those concluded between Legend and Johnson & Johnson, aka J&J. They will share the commercialization/development costs for developing anito-cel and also split U.S. profits 50/50 . Source: Table was made by Author based on the financial reports of Legend and Gilead As a result, I see a divergence here. Namely, the $7.8 billion that Gilead will pay for Arcellx is 38.5% higher than Legend's current market cap. And secondly, I want to talk about Eli Lilly's ( LLY ) acquisition of Kelonia Therapeutics for up to $7 billion (an upfront payment of $3.25 billion). In my opinion, this April 20th deal is not justified from a valuation standpoint. Source: Table was made by Author Because Kelonia only has one clinical-stage drug, KLN-1010 . It, like Carvykti and anito-cel, targets BCMA (B-cell maturation antigen). But unlike this "duo," it delivers CAR-encoding nucleic acids to T cells, reprogramming them in the body and not in the lab. As a result, the cost of it will theoretically be signific...
European power prices plunged to multiyear lows as solar generation surged, flooding the region’s grids. Clear skies, combined with relatively cool temperatures — which improve panel efficiency — have driven up solar output this week. Generation is set to remain well above seasonal norms through the weekend across western Europe, according to weather models and analysis from forecaster MetDesk. In...
European power prices plunged to multiyear lows as solar generation surged, flooding the region’s grids. Clear skies, combined with relatively cool temperatures — which improve panel efficiency — have driven up solar output this week. Generation is set to remain well above seasonal norms through the weekend across western Europe, according to weather models and analysis from forecaster MetDesk. In the French day-ahead market , hourly prices sank as low as -€188.98 a megawatt-hour, the lowest since June 2013 , Epex Spot data show. French solar capacity has more than doubled in four years, according to BloombergNEF. Europe has seen a vast solar build-out. That’s led to a sharp rise in negative prices, particularly around the middle of the day when solar generation can exceed demand. Insufficient storage capacity and grid infrastructure mean the network can’t absorb or transport the excess power, causing prices to plummet and forcing some operators to shut down plants to keep systems stable. Read More: Europe Power Markets See More Negative Prices as Solar Surges In Germany, solar generation may reach a record 54 gigawatts on Saturday, while the country could also see strong wind output, Bloomberg models show. In the country’s day-ahead market, hourly prices fell to -€190.87 a megawatt-hour, the lowest in more than a year. In the UK, which has already seen an all-time high for solar this week, generation is expected to climb to about 13 gigawatts this weekend.
鉴于欧盟已取消对中国两家金融机构的制裁措施,现公布《关于取消对欧盟两家金融机构反制措施的决定》,自2026年4月24日起施行。根据《中华人民共和国反外国制裁法》《实施〈中华人民共和国反外国制裁法〉的规定》等法律法规,鉴于2026年4月23日欧盟宣布撤销对中国两家金融机构的制裁,中方决定自北京时间2026年4月24日起,取消商务部令二〇二五年第5号对欧盟UAB Urbo Bankas和AB Mano...
鉴于欧盟已取消对中国两家金融机构的制裁措施,现公布《关于取消对欧盟两家金融机构反制措施的决定》,自2026年4月24日起施行。根据《中华人民共和国反外国制裁法》《实施〈中华人民共和国反外国制裁法〉的规定》等法律法规,鉴于2026年4月23日欧盟宣布撤销对中国两家金融机构的制裁,中方决定自北京时间2026年4月24日起,取消商务部令二〇二五年第5号对欧盟UAB Urbo Bankas和AB Mano Bankas两家银行的相关反制措施,并将其移出反制清单。(商务部)