The has won a big following among investors with an ambitious promise: Beat the market by capitalizing on shifts in sentiment between factors such as growth, value, and quality. After years of favoring almost exclusively tech stocks connected to artificial intelligence, investors suddenly can’t get enough of hard-hat sectors such as energy, materials, and industrials. Over the past six months, the fund—often referred to by its ticker DYNF—has delivered a cumulative total return of 6.1%, according to FactSet slightly better than the S&P 500’s 5.7% return.

Trump fires Kristi Noem as DHS chief, names Sen. Markwayne Mullin to replace her toggle caption Win McNamee/Getty Images President Trump fired Homeland Security Secretary Kristi Noem and said GOP Sen. Markwayne Mullin of Oklahoma would replace her. Noem "will be moving to be Special Envoy for The Shield of the Americas, our new Security Initiative in the Western Hemisphere we are announcing on Saturday in Doral, Florida," Trump posted on social media . "I thank Kristi for her service at 'Homeland.'" Noem is the first cabinet secretary to leave the Trump administration in the second term. The announcement comes after Noem spent two days being grilled by lawmakers in Congress over her leadership. Sponsor Message Mullin has been a defender of the president and his immigration agenda. "A MAGA Warrior, and former undefeated professional MMA fighter, Markwayne truly gets along well with people, and knows the Wisdom and Courage required to Advance our America First Agenda," Trump said in his post highlighting Mullin's position as the only Native American in the Senate. "Markwayne will make a spectacular Secretary of Homeland Security. Thank you for your attention to this matter!" toggle caption Andrew Harnik/Getty Images Mullin will need to be confirmed by the Senate in order to take on the role permanently. Noem, who was formerly South Dakota's governor, had been at the forefront of Trump's efforts to carry out mass deportations. Following her confirmation, she quickly became the face of the administration's immigration agenda — making multimillion dollar ads urging people to self deport, conducting press conferences around the country touting deportation numbers and conducting international visits geared at promoting Trump's vision. She is the highest-profile departure in recent weeks at the agency. Madison Sheehan, former Immigration and Customs Enforcement deputy director, left her post at the start of the year to run for Congress. Top agency spokesperson Tricia McLaug...

Can a digital tablet cut back a country's overuse of antibiotics? toggle caption Magali Rochat During a typical day at a clinic in rural Rwanda, nurses can see 60 patients a day. Adults and children line up with injuries, coughs and fevers, often after traveling many miles. "Nurses are very busy, they're receiving all the things from the community, complicated or easy," says Dr. Victor Pacifique Rwandarwacu, a physician from Rwanda. That leaves little time for diagnosis. When faced with a patient suffering from an illness, many nurses err on the side of prescribing something. Often, that's antibiotics. "You find them giving a high number of antibiotics, just in case," says Rwandarwacu. "They'd be like, 'OK, what if I don't give it, and then the patient comes back tonight?'" Sponsor Message That dynamic has led to extremely high prescription rates, according to new research by Rwandarwacu and his colleagues. Across 32 clinics in Rwanda, 71% of pediatric visits ended with an antibiotic prescription. That's likely much, much higher than necessary. For a given patient, getting antibiotics for, say, a viral case of pneumonia may not be a big deal, even though antibiotics do nothing to stop the virus. But across a region or country, such high rates of unnecessary prescriptions can breed resistance . "In sub-Saharan Africa, the rise in antimicrobial resistance is enormous," says Jean Claude Semuto Ngabonziza, a researcher at the Rwanda Biomedical Center who was also involved in the study. "We are at the edge of losing potential antibiotics." But Ngabonziza, Rwandarwacu and their colleagues have developed a new tool that could help. Their computer tablet-based tool, called ePOCT+, guides clinicians, step-by-step, through diagnosing a problem and suggesting a treatment. After those same 32 clinics implemented ePOCT+, antibiotic prescription rates plummeted from 71% to 25% , the researchers report in PLOS Medicine. That drop didn't lead to more kids getting sicker. "The most ...

Edward Chaidez El Pollo Loco ( LOCO ) plans to make culinary innovation a major focus in 2026. The restaurant chain announced that it is testing five new menu innovations across approximately 60 restaurants, including locations in California and Utah. The market tests will run through late April and will reflect the brand's commitment to expanding flavor exploration and enhancing guest variety. The items currently in‑market or entering the test phase this month include a Honey Chipotle BBQ fire-grilled chicken, Loco Tenders Crispy 100% all-white-meat chicken tenders, loaded quesadillas, a crispy grilled chicken sandwich, and horchata coffee drinks. Looking ahead, El Pollo Loco ( LOCO ) has also committed to eight additional new menu item tests in 2026. Those details will be announced later in the year. The company is scheduled to release fourth-quarter earnings on March 12. More on El Pollo Loco El Pollo Loco Holdings Is On The Value Menu For A Reason Seeking Alpha’s Quant Rating on El Pollo Loco Historical earnings data for El Pollo Loco Financial information for El Pollo Loco

受美国与伊朗冲突升级、油价持续攀升影响， 道琼斯 工业平均指数周四暴跌1000点。 道指下跌1003点，跌幅2%，标普500指数下跌1.2%。以科技股为主的 纳斯达克 指数下跌1.1%。 投资者回吐前一交易日全部涨幅，由上周末美以袭击伊朗引发的市场动荡再度上演。 由于交易商担忧霍尔木兹海峡长期被封锁，油价大幅上涨。这条航运要道承担着全球约五分之一石油供应的运输任务。 周四，美国原油价格突破79美元，创下6月以来的最高水平。 美国汽车协会数据显示，美国汽油价格升至每加仑3.25美元，较一周前上涨近9%。 美国总统唐纳德・特朗普在社交媒体发文，下令联邦政府为“所有海上贸易的金融安全提供政治风险保险与担保”后，市场趋于稳定。 特朗普补充道：“如有必要，美国海军将尽快开始为通过霍尔木兹海峡的油轮提供护航。” 不过，霍尔木兹海峡近期局势持续动荡，可能推高油价以及众多依赖柴油运输的其他商品价格。 美国国债收益率周四攀升，显示市场可能担忧伊朗冲突引发经济不稳定与通胀。 由于债券每年向投资者支付固定收益，通胀风险带来的物价上涨会侵蚀这些年度收益。 因此，在经济动荡时期，债券的吸引力通常会下降。当需求降低时，债券收益率便会上升。 责任编辑：李肇孚

Key events 24m ago Teams! 28m ago Preamble Show key events only Please turn on JavaScript to use this feature 2m ago 19.25 GMT “Consensual doesn’t mean it’s not adversarial,” returns James Humphries. “That’s the key difference between a boxing match and an assault charge, no? ... Honestly, I dunno what my end goal here is. Much like spurs in that respect, I guess.” But politics isn’t consensual either. Obviously the framework is, but as an endeavour, it is not. Share 9m ago 19.19 GMT Email! “As a Motherwell fan I have some sympathy with the idea of trying to force teams to play football rather than just kick the opponent into the air (mind you, as an agricultural centre-back I am opposed to it, there’s yer paradox),” begins James Humphries. “But, like: of course football is consensual? It’s a whole bunch of people who, at least notionally, have agreed to be at place x, time y, under rules z. If someone’s not consenting to playing football, then either they’re being forced to take part in a generally consensual institution (see also: standard views of the democratic state), or they’re just in a spectacularly weird thought-experiment with a bunch of people who are playing football! (Can you tell what I used to do for work?)” Bracketeer? But otherwise, politics, say, is consensual according to your tenets, yet it’s also adversarial, so. Share 16m ago 19.12 GMT Palace make two changes to the side which lost to Manchester United at the weekend, one enforced – Chadi Riad for the suspended Maxence Lacroix – with Evann Guessand in for Brennan Johnson. Jefferson Lerma, out injured for nearly a month, is back on the bench. Share 18m ago 19.09 GMT Igor Tudor makes his third formation change in three games, presumably pursuing the pretence that one exists which won’t make his team look dreadful; from 4-4-2 at Fulham, it’s now 4-3-3. Good luck, old mate. Otherwise, Radu Dragusin is left out of the squad altogether – goodness me, imagine how badly you’ve got to play to accomplish...

格隆汇3月6日｜美墨各部长预计谈判代表将于3月16日当周举行首次会议，此后将定期会晤，作为联合审查声明的一部分。

A plume of smoke rises after a strike in Tehran, Iran, Monday, March 2, 2026. Mohsen Ganji | AP Concerns about the Iran war and fears of slowing U.S. economic growth have contributed to volatility in financial markets , prompting some investors to worry about how to keep their money safe and where to find stable returns . "War is always worrisome. People lose their lives. Property is destroyed. Markets are disrupted," said Blair duQuesnay, a certified financial planner and chartered financial analyst at Ritholtz Wealth Management. Yet, she said she reminds concerned clients that while "wars can last several years, for most people, their [investing] time horizon is decades." Diversifying investments with equities, bonds, and cash over the long term is critical, financial advisors say, but it is also important to plan where you will stash cash in the short run. Timeframe for goals determines your best options Financial advisors generally recommend keeping six to 12 months' worth of expenses in an emergency fund, and 2% to 10% of a portfolio in cash, depending on your individual circumstances, life stage, and goals. "If it's money you'll need in the next 30 days, it should be in a checking account; the next six months, a high-yield savings account," said duQuesnay, who is also a member of the CNBC Financial Advisor Council. If your time frame is six months to two years, consider U.S. Treasury bills or short-term Treasury exchange-traded funds that mature in zero to three months, she said. watch now VIDEO 4:32 04:32 Middle-income financial stress: Here's what to know Squawk Box Financial advisors typically say money for short-term goals should not be subject to the stock market risk. "There's something they want one or two years from now, so they can't afford the volatility that comes with the market, and money you need one or two years from now should not be invested," said wealth manager Gloria Garcia Cisneros of LourdeMurray in Los Angeles. She is also a CNBC Financi...

格隆汇3月6日｜市场消息：马斯克的xAI未能阻止加州人工智能透明度法案实施。

格隆汇3月6日｜声明显示，美国和墨西哥启动《美墨加协定》审议程序。

Top Stocks to Double Up on Right Now The Motley Fool

In trading on Thursday, shares of Bank of New York Mellon Corp's Depositary Shares Representing Series K Noncumulative Perpetual Preferred Stock (Symbol: BK.PRK) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.5375), with shares changing hands as low as $25.44 on the day. This compares to an average yield of 6.52% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, BK.PRK was trading at a 3.44% premium to its liquidation preference amount, versus the average discount of 10.33% in the "Financial" category. Investors should keep in mind that the shares are not, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. Below is a dividend history chart for BK.PRK, showing historical dividend payments on Bank of New York Mellon Corp's Depositary Shares Representing Series K Noncumulative Perpetual Preferred Stock: In Thursday trading, Bank of New York Mellon Corp's Depositary Shares Representing Series K Noncumulative Perpetual Preferred Stock (Symbol: BK.PRK) is currently up about 0.2% on the day, while the common shares (Symbol: BK) are down about 2.1%. Click here to find out the 50 highest yielding preferreds » Also see: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

PorFang/iStock via Getty Images I am of the opinion that in the current environment, the Invesco Dorsey Wright Basic Materials Momentum ETF ( PYZ ) does not offer a risk/reward profile appealing enough despite delivering quite an impressive performance YTD. While the oil price-related inflation narrative is slowly developing amid the U.S.-Israel-Iran conflict, and PYZ might look like an ideal vehicle to play it, as it offers exposure to the raciest stocks from the industry that is deemed one of the key beneficiaries of high inflation, its historical performance warrants caution. In fact, PYZ has underperformed IVV since the index change in February 2014, delivering a 1.6x higher standard deviation, as well as deeper maximum drawdowns during the pandemic, the 2022 bear market, and the 2025 tariff drama. Besides, compared to the State Street Materials Select Sector SPDR ETF ( XLB ), PYZ's strategy does not add much to annualized returns but significantly boosts volatility. As a risk-adjusted returns-focused investor, I find this quite worrisome and disappointing. What also feeds my skepticism are its comparatively small AUM of $101.4 million, a fairly wide median bid/ask spread of 20 bps, and high net expense ratio of 60 bps. Overall, owing to its mix of benefits and disadvantages, I believe a Hold rating is the optimal one to initiate coverage with. PYZ Strategy And Portfolio As we know from the Invesco website , the keystone of PYZ's strategy is the Dorsey Wright ® Basic Materials Technical Leaders Index. As explained in the prospectus: Strictly in accordance with its guidelines and mandated procedures, Dorsey, Wright & Associates, LLC (“Dorsey Wright” or the “Index Provider”) compiles and maintains the Underlying Index, which is composed of at least 30 securities of companies in the basic materials sector that have powerful relative strength or “momentum” characteristics. Dorsey Wright selects these securities from 2,000 of the largest constituents by market capita...

中芯國際(00981)出現大手賣出140萬股，成交價$61.5，涉資8.61千萬 AASTOCKS.com

财联社3月6日讯（编辑 牛占林） 美国24个州组成的联盟将于周四对特朗普政府提起诉讼，这是对其新实施的10%全球关税的首个法律挑战。相关州政府表示，总统不能通过援引新的法律依据来绕过美国最高法院此前作出的裁决，而最高法院已裁定特朗普此前实施的大部分关税无效。 这些由民主党领导的州(纽约州、加利福尼亚州和俄勒冈州等)认为，特朗普在2月20日最高法院裁决后立即宣布的新关税同样属于非法行为。 准备提起诉讼的州表示，这些关税是依据《1974年贸易法》第122条实施的，为期150天。但该法律原本旨在应对短期货币紧急情况，而不是为了应对长期贸易逆差所产生的常规贸易失衡。 这些州将在纽约市的美国国际贸易法院提起诉讼，俄勒冈州总检察长Dan Rayfield表示：“当前的重点应该是向民众退还已征收的关税，而不是继续加码这些非法关税。” 纽约州总检察长利蒂希娅·詹姆斯指出："在最高法院驳回他首次实施全面关税的尝试后，总统正在制造更多经济混乱，并指望美国民众为此买单。" 特朗普在2月20日签署的行政命令对进口商品统一征收10%的关税。不过，美国财政部长斯科特·贝森特周三表示，这一税率可能在本周晚些时候上调至15%。 在其第二个总统任期内，特朗普将关税政策作为其外交与经济战略的核心支柱，并声称总统拥有在无需国会批准的情况下实施关税的广泛权力。 然而，2月20日，美国最高法院对特朗普作出重大打击：法院裁定，他依据《国际紧急经济权力法》实施的大量关税不具备法律依据，因为该法律并未赋予总统他所声称的征税权力。 对此，特朗普公开批评了做出不利裁决的法官，并随后宣布依据《1974年贸易法》第122条征收新的关税。而该法律条款此前从未在美国被用来征收关税。 与此同时，特朗普还根据更为传统的法律授权，对汽车、钢铁和铝等进口商品征收关税。这类关税在法律上更不容易受到挑战。 提起诉讼的各州指出，《贸易法》允许征收关税的前提是为应对所谓的“国际收支赤字”。而上一次发生这种情况还是在共和党前总统理查德·尼克松任内，当时美国正在放弃金本位制。 各州认为，《贸易法》中有关国际收支赤字的措施，主要是为了应对货币金融风险，例如美元在外汇市场出现突然且大幅贬值。 但在各州看来，特朗普错误地套用了这一法律标准，试图解决的是美国的贸易逆差问题。 在诉讼请求中，各州要求法院发布禁令，阻止新的关税生效，并要求政府退还所有依据《...

Earnings Call Insights: Altimmune (ALT) Q4 2025 Management View Jerome Durso, Chairman, CEO & President, emphasized Altimmune's exclusive focus on liver disease and outlined the significant unmet need in MASH, highlighting pemvidutide's "balance one-to-one agonism of glucagon and GLP-1 in a single molecule achieved with pemvi makes it potentially well suited for the conditions we're targeting." He reinforced the drug's potential to reduce liver fat and inflammation as well as its favorable tolerability, noting, "the favorable tolerability leading to low discontinuations due to adverse events that we saw in our Phase II MASH trial can be a key differentiator that pemvi may deliver." Durso also referenced the FDA Breakthrough Therapy designation for pemvidutide in MASH and described preparations for a global Phase III trial. Durso reported the addition of new leaders with expertise in liver disease, late-stage clinical development, and commercial strategy, and highlighted a $75 million capital raise in January to support clinical advancement. He stated, "We reported total cash of $274 million at year-end 2025" and described a pro forma cash position of approximately $340 million after recent fundraising. Christophe Arbet-Engels, Chief Medical Officer, noted that the 48-week data from the IMPACT trial established "a clear dose response that supports our plan to focus on the 1.8 milligram dose in the Phase III trial, while also evaluating the 2.4 milligram dose which could provide additional benefits on both weight loss and most importantly, liver efficacy." He described statistically significant improvements in liver fat content and key noninvasive markers. Linda Richardson, Chief Commercial Officer, shared results from market research showing "over 70% reported a very high or high likelihood to prescribe pemvi," with physicians projecting use in 43% of F2 and 51% of F3 patients. She highlighted differentiation in tolerability and lean muscle preservation. Gregory Weav...

Earnings Call Insights: Acorn Energy (ACFN) Q4 2025 Management View Jan Loeb, President, CEO & Director, highlighted that "In 2025, Acorn achieved record revenue, improved operating income, higher cash flow and our third straight year of profitability." He noted a 22% increase in high-margin monitoring revenue, propelled by growth in remote monitoring endpoints and a major contract with a national cellphone provider. The bulk of hardware revenue from this contract was booked between Q3 2024 and Q2 2025, leading to lower hardware revenues in the latter half of 2025. Loeb also addressed a slowdown in residential generator deployments due to high interest rates, fewer major outages, and consumer economic uncertainty. Loeb outlined five strategic growth initiatives: pursuing large commercial and industrial opportunities, forming strategic relationships with OEM partners (including white-labeling), expanding residential and small business market penetration via over 600 generator dealers, investing in R&D for next-generation monitors, and seeking accretive M&A opportunities, with a focus on businesses with substantial monitoring components. The strategic partnership with AIO, providing Acorn exclusive North American rights to AIO’s remote monitoring and control suite, was positioned as transformative: "The partnership is a perfect fit for Acorn and our OmniMetrix brand, as it substantially expands our product offerings and addressable market by integrating AIO Solutions with our industry-leading remote monitoring and control technology." Loeb expects average OmniMetrix-labeled AIO product sales to be five to six times larger than current offerings, with first demo installations expected by the end of the month and revenue contributions anticipated in the second half of 2026. Tracy Clifford, Chief Financial Officer, stated, "The key takeaway from our 2025 results is the solid growth we are achieving in our annual recurring monitoring revenue stream, which achieved a 95% g...

Earnings Call Insights: Ciena Corporation (CIEN) Q1 2026 Management View Gary Smith, CEO, opened by highlighting Ciena's record quarterly revenue of $1.43 billion, stating it was "our highest ever and at the top end of our guidance, reflecting strong execution across the business." He emphasized "exceptional order activity" and strong demand, leading to increased confidence in multiyear growth and profitability. Smith described Ciena's position in enabling "AI workloads to scale and to be monetized," and noted, "we are taking meaningful share of the increases in AI-driven connectivity spend." Smith projected that "2025 will ultimately stand out as one of our strongest years of market share gains, and we believe it will be even stronger in 2026." Smith discussed Ciena's market leadership in high-speed connectivity, particularly in wide area network (WAN) and data center interconnect (DCI), driven by the "continued adoption of cloud services" and the rise of AI data centers. He noted orders in India were up 40% year-over-year, especially for Managed Optical Fiber Networks (MOFN), and expects "revenue from the MOFN application will continue to be an important contributor to overall service provider growth going forward." The CEO highlighted expanding opportunities in and around the data center, referencing recent hyperscaler CapEx announcements totaling more than $600 billion for 2026. Smith described new offerings such as the "RLS hyper-rail solution," which he said delivers "an order of magnitude increase in fiber density within existing rack footprints" and will be demoed at OFC. He also announced the "Vesta 200 6.4T optical engine," Ciena's first pluggable CPO solution, and mentioned the Nitro Linear Redriver technology from the Nubis acquisition, with both products sampling in Q2 2026. Marc Graff, CFO, stated, "We continue to make progress to our next milestone of 45% gross margin as witnessed by our 44% gross margin performance in Q1." He noted Q1 cash from opera...

Ikhwan Rezky Nasution/iStock via Getty Images IMTM Strategy iShares MSCI Intl Momentum Factor ETF ( IMTM ) was launched on 1/13/2015 and tracks the MSCI World ex USA Momentum Index. IMTM has a portfolio of 303 stocks, a 30-day SEC yield of 1.68%, and a total expense ratio of 0.30%. Distributions are paid semi-annually. As described in the prospectus by iShares , the starting stock universe is the MSCI World ex USA Index. A momentum score is calculated for each stock based on the excess return over the risk-free rate in 6- and 12-month time periods, divided by the volatility of weekly returns. The underlying index is reconstituted on a quarterly basis using an algorithm that determines the number of constituents and weights them by multiplying the momentum score and market capitalization, with a maximum limit of 5% in any constituent. The portfolio turnover rate was 109% in the most recent fiscal year. This article will use as a benchmark the MSCI ACWI ex USA IMI Index, represented by iShares Core MSCI Total International Stock ETF ( IXUS ). Portfolio IMTM is almost exclusively invested in large- and mega-cap companies (95% of asset value). The portfolio has significant exposure in Japan (22.8%), Canada (16.3%), and the U.K. (12.8%). Other countries are below 8%. Compared to the benchmark, IMTM mostly overweights these top three countries, along with some European countries, while it ignores emerging markets (which are not permanently excluded by the strategy description). Geographical allocation in % of asset value (Chart: author; data: iShares) The fund is overweight in financials (36.5%) and has notable exposure in industrials (22.5%). No other sector weighs more than 10%. Sector breakdown in % of asset value (Chart: author; data: iShares) The portfolio is diversified, with low to moderate company-specific risk. The top 10 holdings, listed in the next table, represent 21.5% of asset value, and the largest position (ASML Holdings) weighs 4%. Nonetheless, IMTM is mo...

This article first appeared on GuruFocus. Palantir Technologies (NASDAQ:PLTR) co founder and chairman Peter Thiel met with Japan's Prime Minister Sanae Takaichi during a visit to Tokyo, where the two discussed the future of advanced technology collaboration between Japan and the United States, according to Japan's Ministry of Foreign Affairs. The meeting was described as a courtesy visit, but officials said the conversation covered the current landscape and future prospects for innovative technologies across both countries. While details were limited, the discussion reflects growing global interest in areas like artificial intelligence, data analytics, and next generation digital infrastructure. Palantir is best known for its AI and data analytics platforms, including Gotham and Foundry, which are widely used by intelligence agencies, defense organizations, and government institutions. The company has built a strong presence as a technology contractor for the U.S. government, particularly in national security and defense related projects.

Palantir's Peter Thiel Meets Japan Prime Minister TradingView

Astera Labs Stock Jumps After Analyst Sets $250 Target For The AI Silicon Pure Play Benzinga

FangXiaNuo/iStock Unreleased via Getty Images Investment Thesis There are times when you get into a stock too early and times when you sell out too late. The timing in which we should be buying or selling stocks can be very tricky to find; this much is clear. However, we know that investors suffer from chronic short-term shortsightedness. When a company makes a large investment in their business model, and the cost of such an investment results in lower short-term earnings, the stock market tends to punish them. For example, today, after JD.com, Inc. ( JD ) reported its quarterly net loss in nearly 2 years, and with the company's share price down by 1%, investors might think this is the perfect opportunity to sell their JD.com shares due to the "short-lived" investor being extremely emotional. Although JD.com did not do so well in the last quarter, most investors will recognize this as an overreaction due to an emotional impulse to buy low ( but not too low ), as the shares of the companies are currently trading at lower levels than they should be. There can be no other conclusion: JD.com is underpriced based on fundamentals when considering the potential increase in retail margins and the current level of free cash flow (FCF). In this article, I'll show you all the reasons why I think JD is a good investment today. An Infrastructure, Not Just an App JD.com does things differently from most other e-retailers in China, such as Alibaba ( BABA ). JD not only has its own inventory but also operates its own logistics network. JD's approach to building out a logistical system is very expensive and costly, but it gives JD total control over the product, price, and delivery time. JD's logistics system is one of the reasons that JD is able to operate at scale in a competitive market with many players. Right now, China is experiencing several challenges in the area of e-commerce. The government of China has reduced its goal for GDP growth from 7% to 4.5-5% for 2026. China is ...

Getty Images Quarterly Snapshot Performance The Fund returned 3.84% and the MSCI ACWI ex USA Index returned 5.05%. Key Drivers Stock selection in health care and financials detracted from relative performance. Stock selection in information technology and industrials contributed, along with our overweight to communication services. Summary Periods of volatility were masked by strong returns for international equities in Q4 and throughout 2025. We were unable to keep pace with the benchmark, but took advantage of the volatility as disciplined investors who look for situations where prices diverge from intrinsic value. Market and portfolio review International equities advanced in Q4, with the MSCI ACWI ex USA Index rising 5.05%. Performance varied across regions – Europe led with a 6.24% gain, supported by strength in Switzerland and the UK, while Asia and Pacific markets lagged the benchmark returning 3.45%, as gains in South Korea and Japan were offset by weakness in China. Throughout 2025, international equities outperformed their US counterparts, defying widespread expectations of continued US leadership. A declining dollar provided a helpful tailwind to international returns, while regional, sector-specific and policy-driven factors supported a broader set of market leaders. AI infrastructure investment in Asia and optimism around European fiscal spending were especially noteworthy. The Swiss market, heavily weighted toward health care and consumer staples, was seen as a safe haven amid global growth concerns and benefited from improving trade sentiment with the US. In the UK, the Autumn Budget delivered a clearer fiscal policy roadmap and avoided feared sector-specific levies. These developments, along with attractive equity valuations, supported investor interest. South Korean stocks gained on progress related to corporate governance initiatives and improved supply/demand picture for its memory chip companies, as manufacturers reported their capacity is largel...

格隆汇3月6日｜市场消息：以色列空军准备今晚对贝鲁特达希耶郊区进行大规模破坏。

Key Points Ciena delivered a beat-and-raise quarter. Its optical networking products are booming in AI data centers. However, shares took a tumble after a massive one-year rally. 10 stocks we like better than Ciena › Shares of Ciena (NYSE: CIEN) plummeted 18.6% on Thursday as of 1:05 p.m. EDT. As a leader in optical networking hardware and software platforms, Ciena's share price has skyrocketed with the advent of generative AI and the associated infrastructure build-out. The stock, even with today's sell-off, is up a whopping 271% over the past year alone. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » That may be why Ciena's fiscal first-quarter earnings report, which showed both a strong revenue and earnings beat, didn't lead to a positive outcome for the stock. Ciena's growth accelerates, but it's not enough for its now-lofty valuation In the fiscal first quarter ending at the end of January, Ciena saw growth rise 33.1% to $1.43 billion, while adjusted (non-GAAP) earnings per share rallied 111%. Both figures handily beat analyst expectations. Management also raised full-year guidance to a range of $5.9 billion to $6.3 billion, up from a prior range of $5.7 billion to $6.1 billion, and above the consensus estimates of $5.96 billion. Ciena also raised its gross margin guidance to 44% at the midpoint, up from prior guidance of 43%. CEO Gary Smith noted in the release: Our record fiscal fourth-quarter and full-year performance reinforce our position as the global leader in high-speed connectivity, with an expanding role in the AI ecosystem... Looking ahead, we are confident in our growth trajectory over the coming years, driven by durable demand from our cloud and service provider customers and a growing set of opportunities inside and around the data center. Ciena investors are selling the good n...