MainStreet Bancshares ( MNSB ) Friday said its board approved a new stock repurchase program of up to $10M, replacing and superseding the buyback plan announced in October 2025. The timing, size and price of any buybacks will be at management’s discretion, with no guarantee of purchases, the company said . More on MainStreet Bancshares MainStreet Bancshares, Inc. (MNSB) Q1 2026 Earnings Call Trans...
MainStreet Bancshares ( MNSB ) Friday said its board approved a new stock repurchase program of up to $10M, replacing and superseding the buyback plan announced in October 2025. The timing, size and price of any buybacks will be at management’s discretion, with no guarantee of purchases, the company said . More on MainStreet Bancshares MainStreet Bancshares, Inc. (MNSB) Q1 2026 Earnings Call Transcript MainStreet Bancshares: Making Improvements, But More Are Needed MainStreet Bancshares, Inc. 2025 Q4 - Results - Earnings Call Presentation Seeking Alpha’s Quant Rating on MainStreet Bancshares Dividend scorecard for MainStreet Bancshares
Customs and Border Protection launched a tariff refund portal this week, with thousands of companies rushing to file claims for the duties they paid over the past year. The agency may be required to refund more than $160B in tariffs it collected under the International Emergency Economic Powers Act (IEEPA), which were struck down by the Supreme Court in February. The Consolidated Administration an...
Customs and Border Protection launched a tariff refund portal this week, with thousands of companies rushing to file claims for the duties they paid over the past year. The agency may be required to refund more than $160B in tariffs it collected under the International Emergency Economic Powers Act (IEEPA), which were struck down by the Supreme Court in February. The Consolidated Administration and Processing of Entries (CAPE) system for importers to file refund claims went live on Monday. Valid refunds are expected to be issued within 60-90 days after the claims are accepted. And while importers stand to receive tariff refunds, it's unclear how many of them will pass on the benefit to consumers. "I got a feeling the American people won't see it," Treasury Secretary Scott Bessent said earlier this year regarding the refunds. Some consumers have filed lawsuits against companies like Costco ( COST ) and FedEx ( FDX ), seeking a portion of their tariff refunds. Costco ( COST ) CEO Ron Vachris said the retailer plans to pass the refund benefit to customers "through lower prices and better values." FedEx ( FDX ), UPS ( UPS ) and DHL said they will issue tariff refunds to customers who bore those charges after their claims are settled with the CBP. A recent poll showed that Seeking Alpha readers think companies should cut prices, as refunding customers would be too complicated. Others feel customers should get their cash back. But many small businesses may choose to skip claiming refunds altogether, given the legal costs that could be higher than what they’re owed. There's also the possibility of the U.S. government appealing the court order that directed it to issue refunds. The deadline for that is June 7. Here's a look at the refunds that each industry and retailer could potentially receive: Tariff refund estimates (PwC, Citi) More on tariff refunds Wall Street Breakfast Podcast: Tariff Refund Rush Begins Trump says he’ll remember companies that don’t seek tariff refun...
Kettle’s Yard, Cambridge Perfectly timed exhibition of bright blooms bursts your senses into life and reveals intensely human stories of love, loss and jealousy-ridden break-ups Anyone who thinks flower paintings are stuffy should spend a few minutes with Tulip (Helen Josephine) by Rory McEwen . Standing in front of this exquisite watercolour, my senses come alive: I can taste strawberries and cre...
Kettle’s Yard, Cambridge Perfectly timed exhibition of bright blooms bursts your senses into life and reveals intensely human stories of love, loss and jealousy-ridden break-ups Anyone who thinks flower paintings are stuffy should spend a few minutes with Tulip (Helen Josephine) by Rory McEwen . Standing in front of this exquisite watercolour, my senses come alive: I can taste strawberries and cream, and feel the velvety petals between my finger pads. McEwen had a lifelong love affair with plants, which he painted from life, making changes with a pen knife or scalpel, wearing surgeon’s spectacles for the fine details. Crisply defined and gleaming in the light, his tulip is beautifully mesmerising. It’s one of several flower paintings hanging on white and leaf-green walls at Kettle’s Yard. Inspired by the fresh cut flowers and paintings of flowers in the neighbouring house, Handpicked brings together more than 40 artists from the beginning of the 20th century to the present who share a floral passion. It’s a delightful exhibition, perfectly timed, and as I pass between splashy chrysanthemums and dancing fritillaries I’m considering what to pick up from the florist on my way home. But don’t be fooled into thinking that flower paintings are all decor and delight. Folded in with those soft-to-touch petals are intense human emotions and stark reminders of the fragility of life. Continue reading...
Centerra's Q1 outlook points to steady output but rising costs, with strong gold prices helping offset margin pressure amid operational and supply chain challenges.
Centerra's Q1 outlook points to steady output but rising costs, with strong gold prices helping offset margin pressure amid operational and supply chain challenges.
A film sequel 20 years in the making shows how luxury brands have turned the tables on once-dominant magazine editors The National Gallery was the grand setting for the party that followed The Devil Wears Prada 2’s London premiere this week. Donatella Versace held court in a roped-off private area beneath Paul Delaroche’s The Execution of Lady Jane Grey. Meryl Streep, reprising her role as Miranda...
A film sequel 20 years in the making shows how luxury brands have turned the tables on once-dominant magazine editors The National Gallery was the grand setting for the party that followed The Devil Wears Prada 2’s London premiere this week. Donatella Versace held court in a roped-off private area beneath Paul Delaroche’s The Execution of Lady Jane Grey. Meryl Streep, reprising her role as Miranda Priestly – Anna Wintour’s fictional alter ego – wore a red satin Prada coat as a nod to the film’s title and black sunglasses as a wink to Wintour. Glossy magazine editors from Spain, Germany and the Netherlands, flown in for the night, nibbled on fried chicken served with caviar and dishes of mac and cheese presented theatrically under silver cloches. Continue reading...
triloks/E+ via Getty Images Co-authored with Beyond Saving One of our core investing themes coming into 2026 was bullishness on small-cap stocks versus large-cap stocks. In January, we noted that the S&P 500, which is weighted by market-cap, had been outperforming equal-weighted indexes in recent years. Historically, the equal-weighted index has outperformed over the long run. I wrote : "There is ...
triloks/E+ via Getty Images Co-authored with Beyond Saving One of our core investing themes coming into 2026 was bullishness on small-cap stocks versus large-cap stocks. In January, we noted that the S&P 500, which is weighted by market-cap, had been outperforming equal-weighted indexes in recent years. Historically, the equal-weighted index has outperformed over the long run. I wrote : "There is a bit of an aura of invincibility surrounding large caps today. Will it fall apart in 2026? Not necessarily. But the outperformance of large caps is something that historically proved unsustainable. I'm not guaranteeing that it will happen this year. What I am saying is that the huge gap between large-cap and small/mid-cap valuations should have investors thinking about what they are buying." So far in 2026, small-caps have been outperforming, and the S&P 500 equal-weighted index has been outperforming the S&P 500 weighted by market-cap. The result is that the picks we suggested in that prior article are having a strong year: Data by YCharts Today, we want to zoom in on Royce Small-Cap Trust ( RVT ), yielding 6.5%. RVT's Track Record RVT is the oldest CEF in our portfolio, with an IPO in 1986. RVT holds the impressive track record of outperforming its index since inception on both a NAV and market price basis: Source RVT Website In particular, RVT performed exceptionally well relative to the S&P 500 through the Dot-Com bust, which was a period of time where: Large-cap valuations were materially higher than small-cap valuations. The S&P 500 had outperformed the S&P 500 Equal Weighted for several prior years. Interest rates were high. Stock market enthusiasm was strongly centered on a new technology. Oil prices were spiking due to a war in the Middle East. History might not repeat, but the rhyming is quite strong. Against that backdrop, here is how RVT performed: Data by YCharts While there are certainly some differences that investors can quibble about, the broad strokes are...
Morsa Images/DigitalVision via Getty Images Investment Thesis Molina Healthcare ( MOH ) stock jumped 15% on the day when its 2026 Q1 adjusted EPS came in at a surprising $2.35 against a $1.29 consensus estimate. In my previous analysis in December 2025, I rated MOH a Hold and flagged that recovery in medical insurance would take until H2 2026 at the earliest. Two things happened since then that fu...
Morsa Images/DigitalVision via Getty Images Investment Thesis Molina Healthcare ( MOH ) stock jumped 15% on the day when its 2026 Q1 adjusted EPS came in at a surprising $2.35 against a $1.29 consensus estimate. In my previous analysis in December 2025, I rated MOH a Hold and flagged that recovery in medical insurance would take until H2 2026 at the earliest. Two things happened since then that further delayed recovery. First, management confirmed MOH will exit Medicare Advantage in 2027, retaining only its Dual Eligible business, which trims roughly $1 billion in annual premium revenue. Second, ACA enrollment now faces a potential 20% cut following the Enhanced Subsidies expiration, adding another headwind to the top line. Q1 earnings answered the first question, which provided a hint about if cost control was actually happening. At a consolidated MCR of 91.1% , down from 92.6% in Q3 2025, the answer is "yes". The 2026 guidance was reaffirmed at approximately $42 billion in premium revenue and adjusted EPS of at least $5.00. But the one question that determines whether this Hold becomes a Buy remains unanswered, which is whether the market share of the Company will recover. Hopefully more clarity will be provided at the Investor Day in May. But until then, it is a Hold for me. Market Priced The Revenue Loss, Not The Quality Gain The market's reaction to MOH's February MAPD announcement was to take more than $100 off the stock price, which is due to the $1.2 billion lost in premium revenue. I think that framing got one thing right and one thing wrong. What it got right is that revenue shrinks. What it got wrong is it eliminates low-quality revenue, which, in insurance terms, is that of adverse selection. MAPD was costing MOH an estimated $1.00 per diluted share in earnings drag in 2026 alone. This was not a profitable business being abandoned; it was a loss-making segment. The business MOH is keeping is the Dual Eligible book—a $5.5 billion revenue run-rate at a 94%...
Lightboxx/iStock via Getty Images I highlight the assets and sectors that are seeing the largest inflows and outflows of funds so far this year. I use the S&P 1500 Composite Index ( SPTM ) as the benchmark, representing the broad equity market. Oil, nat gas, LNG and energy stocks are the top performers YTD. USO , the United States Oil Fund ETF, is up 85% YTD. No other asset comes close to that. Th...
Lightboxx/iStock via Getty Images I highlight the assets and sectors that are seeing the largest inflows and outflows of funds so far this year. I use the S&P 1500 Composite Index ( SPTM ) as the benchmark, representing the broad equity market. Oil, nat gas, LNG and energy stocks are the top performers YTD. USO , the United States Oil Fund ETF, is up 85% YTD. No other asset comes close to that. This one is a surprise, although it shouldn't be. S.Korea produces many of the semiconductors used in data center buildouts. S.Korea is up 51% YTD. Telecom companies are up 43% YTD. It was a combination of cheap valuations and high yields that made them attractive to investors. The AI buildout is still in full swing, and semiconductor stocks are in high demand. Space exploration stocks are very hot, especially since the news about SpaceX doing an IPO. This ETF invests in companies that build the data centers that run AI. The race is on for sourcing rare earth metals, and this ETF invests in companies that are engaged in that effort. Brazil is enjoying an influx of money, and it's up 28% YTD. Taiwan is another hot market YTD. Have you noticed a pattern here? Lots of money is flowing into foreign markets this year. Now it's time to turn our attention to the assets that are providing the funds to buy the top performers. We begin with software, which has been trashed due to fears that AI will replace many of the tasks that legacy software providers performed. Crypto has been a source of funds this year, as Bitcoin and Ethereum have sold off hard. Chances are good that they will come back and make new highs, but for now, they are underperforming the market. China is another source of funds, down 14% YTD. Lastly, we have silver. It started out the year with a monster rally, but since late January, it has been giving back its gains. Final Thoughts When it comes time to rebalance my portfolio, the first thing I look at is who are the winners and losers over the past 3 months? This is...
Alistair Berg/DigitalVision via Getty Images Equity markets have entered a more volatile stretch in 2026, with a growing list of risks for investors to navigate. These include the possibility of a prolonged Iran conflict, higher energy prices feeding back into inflation, a Federal Reserve (Fed) that may stay restrictive for longer, policy uncertainty ahead of the U.S. midterms, and emerging stress...
Alistair Berg/DigitalVision via Getty Images Equity markets have entered a more volatile stretch in 2026, with a growing list of risks for investors to navigate. These include the possibility of a prolonged Iran conflict, higher energy prices feeding back into inflation, a Federal Reserve (Fed) that may stay restrictive for longer, policy uncertainty ahead of the U.S. midterms, and emerging stress in parts of the credit market. That backdrop, combined with a quiet rotation away from mega-cap leadership and toward other areas of the market, is adding another layer of uncertainty. We do not see this environment as a reason to step away from equities. The fundamental backdrop remains constructive, supported by earnings growth, healthy margins, and ongoing structural tailwinds such as AI. Instead, we think investors may benefit from broadening how they express equity and growth exposure, adding sources of return less reliant on narrow market leadership. That is where selective thematic exposure can play a role. We believe themes tied to non-discretionary demand, policy support, and strategic relevance can complement existing portfolios and help improve resilience within equities. This piece outlines why some themes may hold up better during periods of volatility and highlights four thematic opportunities we favor for 2026 and beyond. Market Volatility Meets Strong Fundamentals in 2026 2026 has already reminded investors that bull markets do not move in straight lines. Volatility has returned as markets digest a growing list of macro and geopolitical risks, including a prolonged Iran conflict and renewed oil shocks, inflation reaccelerating through energy, a Fed that may be slower to ease rates than investors had hoped, rising political uncertainty ahead of the U.S. midterms, and broader concerns around credit conditions and AI capital expenditure (CapEx). That said, volatility alone does not imply a deterioration in the underlying equity story. We believe the fundamenta...
SAN DIEGO, April 24, 2026 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR) (the “Company” or “Bancorp”), the holding company for Endeavor Bank (the “Bank”), today reported net income of $1.42 million, or $0.31 per diluted share, for the first quarter of 2026, compared to $1.70 million, or $0.45 per diluted share, for the fourth quarter of 2025, and $1.36 million, or $0.32 per diluted share, for ...
SAN DIEGO, April 24, 2026 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR) (the “Company” or “Bancorp”), the holding company for Endeavor Bank (the “Bank”), today reported net income of $1.42 million, or $0.31 per diluted share, for the first quarter of 2026, compared to $1.70 million, or $0.45 per diluted share, for the fourth quarter of 2025, and $1.36 million, or $0.32 per diluted share, for the first quarter of 2025. All financial results are unaudited.