Andurand's "Hedge" Fund Lost 52% In First Two Weeks Of April On Levered Oil Bets Three weeks ago, when Bloomberg pointed out that Andurand was the best performing hedge fund in March thanks to its notorious levered long oil positioning (and really nothing else), we said they may want to refresh his exposure after the April 7 oil crash. May want to F5 on Andurand after today's near record oil crash...
Andurand's "Hedge" Fund Lost 52% In First Two Weeks Of April On Levered Oil Bets Three weeks ago, when Bloomberg pointed out that Andurand was the best performing hedge fund in March thanks to its notorious levered long oil positioning (and really nothing else), we said they may want to refresh his exposure after the April 7 oil crash. May want to F5 on Andurand after today's near record oil crash https://t.co/tlkgz3dXJa — zerohedge (@zerohedge) April 8, 2026 Three weeks later, they did: according to a report published this morning, Pierre Andurand’s largest "hedge fund" (and when it comes to Andurand, the word "hedging" is a catastrophic misnomer), plunged about 52% in the first half of April, wiping out all of its first quarter gains and then some made on bullish oil bets at the start of the Iran war. His fund slumped this month through April 17 and is now down almost 37% for the year despite oil being substantially higher YTD . It comes after the Andurand Commodities Discretionary Enhanced fund delivered a 31% gain in March even as other hedge funds were caught off guard by the huge swings in commodities prices and inflation expectations unleashed by the war. Perhaps in the parallel universe inhabited by the ultra liberal trader, oil can somehow magically rise to infinity without demand destruction. Well... no. Andurand trying to lever up his oil bets to 100x. The fund - which is basically a 5x levered bet on oil, and which refuses to ever consider the possibility its manager is wrong - has no set risk limits and regularly delivers both double digit gains and losses... though in fairness it has been more losses than gains. Oil prices posted a record monthly rally in March, driving the firm’s gains, as war between the US and Iran throttled exports from the Persian Gulf and triggered the most severe supply disruption in history. Brent futures, an international benchmark, climbed to almost $120 a barrel on March 9. Yet instead of taking profits on the way down, Andu...
Up until a few years ago, my personal portfolio looked a lot like everyone else's. I had money invested in the S&P 500 as the core of my portfolio. But beyond that, it was a mix of style, sector, and factor ETFs without a lot of focus except for the fact that I thought they had a good chance at being outperformers. There were some hits and misses, but the thing that prevented me from having more s...
Up until a few years ago, my personal portfolio looked a lot like everyone else's. I had money invested in the S&P 500 as the core of my portfolio. But beyond that, it was a mix of style, sector, and factor ETFs without a lot of focus except for the fact that I thought they had a good chance at being outperformers. There were some hits and misses, but the thing that prevented me from having more success is that I just didn't pay attention to it as much as I should have. In the end, I wasn't really generating any meaningful outperformance and I just owned a portfolio of funds without much structure. So I decided to instead focus on just two things I could control: simplicity and low costs. The big selling point of index funds was that instead of paying high expense ratios to try to beat the market (and most money managers don't), just buy the index, match its performance, and pay next to nothing for the privilege. Continue reading
M. Suhail/iStock Editorial via Getty Images For years now, DICK'S Sporting Goods, Inc. ( DKS ) management has done nothing but earn confidence from investors. Executive chairman Ed Stack, former chief executive officer and son of the company's founder, was rightly described as an " absolute legend of retail " at a recent investor conference. His successor, Lauren Hobart, has launched successful ne...
M. Suhail/iStock Editorial via Getty Images For years now, DICK'S Sporting Goods, Inc. ( DKS ) management has done nothing but earn confidence from investors. Executive chairman Ed Stack, former chief executive officer and son of the company's founder, was rightly described as an " absolute legend of retail " at a recent investor conference. His successor, Lauren Hobart, has launched successful new concepts; total returns since she took over in early 2021 are 290%. Since the company's 2002 initial public offering, total returns in Dick's stock now exceed 10,000%. Dick's has avoided the pitfalls that have tripped up most other retailers, integrated acquisitions successfully, and consistently driven top- and bottom-line growth. And so there is a case to simply own DKS stock for the long haul, particularly at a still-reasonable valuation. And yet, even with that history, there is just enough reason for concern here that price does matter. I bought DKS last year when it sold off following the surprising acquisition of Foot Locker but exited a few months later after a quick rebound, and in December saw reason for caution around these levels. Months later, that case for caution still holds (even if I unfortunately failed to pull the trigger when shares again dipped below $200 last month). Given that the stock has offered opportunities in the past, it seems wisest to wait for another one to come along. Valuation First To be sure, it's not as if Dick's stock is particularly expensive. Based on guidance given with the fiscal fourth quarter release last month, shares trade at 16.3x this year's earnings. That's a reasonably high multiple for a retailer, but DKS clearly seems to merit a premium at this point, and there's room for bottom-line growth to outperform going forward. Clearly, the biggest opportunity is in Foot Locker. Guidance for this year suggests adjusted operating margins below 2%. As an analyst noted at the conference earlier this month, Foot Locker's merchandise...
PwC Hong Kong will set aside $120 million to compensate Evergrande minority shareholders in a first-of-its-kind settlement. Photo: IC PricewaterhouseCoopers Hong Kong said on Thursday that it has agreed to set aside HK$1 billion ($120 million) to compensate minority shareholders of China Evergrande Group in a landmark settlement tied to the developer’s massive financial fraud. The unprecedented ag...
PwC Hong Kong will set aside $120 million to compensate Evergrande minority shareholders in a first-of-its-kind settlement. Photo: IC PricewaterhouseCoopers Hong Kong said on Thursday that it has agreed to set aside HK$1 billion ($120 million) to compensate minority shareholders of China Evergrande Group in a landmark settlement tied to the developer’s massive financial fraud. The unprecedented agreement marks the first time an auditor of a failed company has directly reimbursed independent shareholders for losses stemming from misleading financial statements, underscoring regulators’ efforts to hold gatekeepers accountable.
Barclays held its Equal Weight rating on Tesla (NASDAQ:TSLA) stock with a $360 price target following the company’s first-quarter report. The call reflects a clear tension: Tesla CEO Elon Musk is asking investors to fund a materially larger spending commitment while Robotaxi scaling and autonomy hardware questions remain unresolved. For retirement-focused investors, the unchanged rating signals .....
Barclays held its Equal Weight rating on Tesla (NASDAQ:TSLA) stock with a $360 price target following the company’s first-quarter report. The call reflects a clear tension: Tesla CEO Elon Musk is asking investors to fund a materially larger spending commitment while Robotaxi scaling and autonomy hardware questions remain unresolved. For retirement-focused investors, the unchanged rating signals ... Barclays Holds the Line on Tesla After Capex Shock: Is the Robotaxi Story Worth the Spend?
Earnings Call Insights: Comcast (CMCSA) Q1 2026 Management View Comcast CEO Brian Roberts said the company is “off to a good start” after “made some real changes,” adding, “with our new leadership structure, Mike as co-CEO and taking the day-to-day lead on improvements and Steve off to a fast start fully running connectivity and platforms, I really like our team.” (Chief Executive Officer, Preside...
Earnings Call Insights: Comcast (CMCSA) Q1 2026 Management View Comcast CEO Brian Roberts said the company is “off to a good start” after “made some real changes,” adding, “with our new leadership structure, Mike as co-CEO and taking the day-to-day lead on improvements and Steve off to a fast start fully running connectivity and platforms, I really like our team.” (Chief Executive Officer, President Brian Roberts) Management framed the quarter as early evidence that the connectivity pivot is gaining traction. Co-CEO Michael Cavanagh said, “broadband net losses improved by more than 100,000 year-over-year,” and “we also delivered the best wireless net additions of any quarter in our history.” (Co-CEO Michael Cavanagh) Cavanagh highlighted media and streaming momentum tied to major sports programming, saying “Legendary February was a remarkable 17-day stretch,” and that NBCU delivered “record advertising sales, roughly $2 billion over the 17 days,” while Peacock “added 2 million net new subscribers…putting Peacock on track to approach profitability for the first time next quarter.” (Co-CEO Cavanagh) CFO Jason Armstrong emphasized the post-Versant reporting reset and the investment posture: “all year-over-year comparisons will be presented on a pro forma basis,” and “this is an investment period for us.” (Chief Financial Officer Jason Armstrong) Outlook Comcast did not provide consolidated revenue or EPS guidance in the prepared remarks or Q&A. Armstrong reiterated near-term pressure in Connectivity & Platforms profitability: “we were transparent about this last year…including the quarter we’re reporting now and some incremental pressure in the second quarter,” and “that expectation remains unchanged.” (Chief Financial Officer Armstrong) Management pointed to a second-half monetization inflection tied to free wireless lines. Armstrong said, “we anticipate some relief as we exit this year…as we…monetize the free lines at the 1-year anniversary mark,” and later added, “i...
bankrx/iStock via Getty Images Blackstone ( BX ) kicked off 2026 with a solid first quarter, as continued investor inflows and broad market appreciation lifted results across most of its strategies. Infrastructure and Tactical Opportunities delivered the strongest returns of the period, while Liquid Credit and Opportunistic Real Estate were the lone drags, posting negative returns for the quarter....
bankrx/iStock via Getty Images Blackstone ( BX ) kicked off 2026 with a solid first quarter, as continued investor inflows and broad market appreciation lifted results across most of its strategies. Infrastructure and Tactical Opportunities delivered the strongest returns of the period, while Liquid Credit and Opportunistic Real Estate were the lone drags, posting negative returns for the quarter. Against that backdrop, the following list ranks ETFs with meaningful exposure to Blackstone by their year-to-date performance, offering a lens into how the broader alternative asset manager space has fared through the first four months of 2026. The performance gap within this group is striking. TBG Dividend Focus ETF ( TBG ) leads with a YTD gain of 6.68%, followed by The Free Markets ETF ( FMKT ) at 2.99% and State Street SPDR S&P Capital Markets ETF ( KCE ) at 2.17%. KCE also stands out as the highest-rated fund in the group on a quant basis, carrying a Buy rating with a score of 3.94, suggesting the broader capital markets ETF may offer a more favorable risk/reward profile than the pure-play alternatives-focused funds. That contrast is sharp at the bottom of the list. VanEck Alternative Asset Manager ETF ( GPZ ) and Tema Alternative Asset Managers ETF ( AAUM ) sit at the bottom with YTD losses of 10.70% and 10.40%, respectively, while WarCap Unconstrained Equity ETF ( WCAP ) is down 9.51%. Notably, GPZ, AAUM, and WCAP all lack Quant ratings coverage, leaving investors with less quantitative guidance on those names. Here is the list: TBG Dividend Focus ETF ( TBG ), YTD performance: 6.68% The Free Markets ETF ( FMKT ), YTD performance: 2.99% State Street SPDR S&P Capital Markets ETF ( KCE ), YTD performance: 2.17%, Quant Rating: Buy (3.94) Invesco S&P 500 Eql Wght Financials ETF ( RSPF ), YTD performance: -2.17% Founder-Led ETF ( FDRS ), YTD performance: -4.54% Founders 100 ETF ( FFF ), YTD performance: -4.69% Invesco Global Listed Private Equity ETF ( PSP ), YTD performa...
Earnings Call Insights: Fulton Financial Corporation (FULT) Q1 2026 Management view Curtis Myers (Chairman, CEO & President) said the quarter showed “consistent execution of our strategy,” and reported “first quarter operating earnings were $0.55 per diluted share,” alongside “an operating return on average assets of 1.30% and an operating return on tangible common equity of 14.76%.” Myers highlig...
Earnings Call Insights: Fulton Financial Corporation (FULT) Q1 2026 Management view Curtis Myers (Chairman, CEO & President) said the quarter showed “consistent execution of our strategy,” and reported “first quarter operating earnings were $0.55 per diluted share,” alongside “an operating return on average assets of 1.30% and an operating return on tangible common equity of 14.76%.” Myers highlighted operating leverage and efficiency gains, saying “strong revenue generation and prudent expense management drove positive operating leverage,” and that the “efficiency ratio” improved “to 56.7%,” while “pre-provision net revenue” increased “$9.2 million linked quarter to $141 million.” Myers described loan growth as led by commercial mortgage, including “an opportunistic purchase of an end-market commercial loan portfolio,” while construction declined and “the continued planned runoff of the indirect auto portfolio” remained a headwind. Richard Kraemer (Senior EVP & CFO) reported “operating net income available to common shareholders was $99.7 million or $0.55 per diluted share,” and added, “on a GAAP basis, earnings were $0.51 per diluted share,” with the gap “primarily driven by acquisition-related expenses.” On M&A, Myers said, “we are also pleased to close the acquisition of Blue Foundry Bancorp on April 1,” and that integration was “progressing well” with completion expected “later this summer.” Kraemer added the deal “is expected to be immediately earnings and tangible book accretive.” Outlook Kraemer said, “we are affirming our full year 2026 operating guidance with the only change being an update to our interest rate assumptions to reflect a 25 basis point cut in July rather than March.” Kraemer reiterated core operating posture for 2026: “We continue to expect annualized mid-single-digit loan growth, controlled expense growth and strong capital generation.” On margin drivers into 2Q (including Blue Foundry), Kraemer said, “directionally higher,” and pointed to ...
Axfood AB (publ) press release ( AXFOF ): Q1 GAAP EPS of SEK2.44. Revenue of SEK21.59M. More on Axfood AB (publ) Axfood AB (publ) (AXFOY) Q1 2026 Earnings Call Transcript Axfood AB (publ) 2026 Q1 - Results - Earnings Call Presentation Axfood AB (publ) (AXFOY) Q4 2025 Earnings Call Transcript Axfood AB (publ) gives FY results Historical earnings data for Axfood AB (publ)
Axfood AB (publ) press release ( AXFOF ): Q1 GAAP EPS of SEK2.44. Revenue of SEK21.59M. More on Axfood AB (publ) Axfood AB (publ) (AXFOY) Q1 2026 Earnings Call Transcript Axfood AB (publ) 2026 Q1 - Results - Earnings Call Presentation Axfood AB (publ) (AXFOY) Q4 2025 Earnings Call Transcript Axfood AB (publ) gives FY results Historical earnings data for Axfood AB (publ)
Regeneron Pharmaceuticals ( REGN ) has become the latest drugmaker to reach a pricing deal with the U.S. government in line with President Trump’s most-favored-nation (MFN) pricing policy, Bloomberg reported on Thursday, citing a person familiar with the matter. Additionally, the Tarrytown, New York-based pharma giant is poised to receive FDA approval for a hearing loss therapy to treat an ultra-r...
Regeneron Pharmaceuticals ( REGN ) has become the latest drugmaker to reach a pricing deal with the U.S. government in line with President Trump’s most-favored-nation (MFN) pricing policy, Bloomberg reported on Thursday, citing a person familiar with the matter. Additionally, the Tarrytown, New York-based pharma giant is poised to receive FDA approval for a hearing loss therapy to treat an ultra-rare hereditary condition caused by a gene mutation, the person said, requesting anonymity as the information is not yet public. In May 2025, Trump issued an executive order directing the Department of Health and Human Services to implement the MFN policy in a bid to lower the U.S. prices of brand-name prescription drugs to the levels in other developed countries. Two months later, he sent letters to the CEOs of 17 leading pharmaceutical manufacturers, including Regeneron ( REGN ), demanding that they take measures to cut drug prices in the U.S. within 60 days in line with the MFN policy. So far, 16 leading drugmakers, including Pfizer ( PFE ) and Eli Lilly ( LLY ), have agreed to his demands, offering lower prices for some drugs in exchange for waivers from the Trump administration’s tariffs on pharmaceuticals. More on Regeneron Pharmaceuticals Regeneron Pharmaceuticals, Inc. (REGN) C5 Complement Development Program Focusing on Cemdisiran and Pozelimab for Complement-Mediated Diseases - Slide Regeneron Pharmaceuticals, Inc. (REGN) Discusses C5 Complement Development Program Focusing on Cemdisiran and Pozelimab for Complement-Mediated Diseases Transcript Regeneron Pharmaceuticals, Inc. (REGN) Presents at Leerink Global Healthcare Conference 2026 Transcript Sanofi and Regeneron’s Dupixent becomes first biologic for kids under 12 with CSU Regeneron inks deal with Telix for radiopharmaceutical therapies
MicroStockHub/E+ via Getty Images The Invesco AI and Next Gen Software ETF ( IGPT ) is a passively managed exchange-traded fund designed to track the component of the technology sector that’s advancing the next generation of software development, consisting of semiconductor & semi-cap equipment companies, software, hardware, and other electronics subsectors. With the AI theme being revitalized and...
MicroStockHub/E+ via Getty Images The Invesco AI and Next Gen Software ETF ( IGPT ) is a passively managed exchange-traded fund designed to track the component of the technology sector that’s advancing the next generation of software development, consisting of semiconductor & semi-cap equipment companies, software, hardware, and other electronics subsectors. With the AI theme being revitalized and returning to growth, I believe IGPT is positioned to realize exceptional strength over the coming years, particularly as AI adoption expands towards inferencing, agentic AI, and physical AI. Thematically, IGPT is heavily weighted towards the platforms that develop and facilitate the development of AI applications as well as the underlying technologies. Given the expectation for continued growth in the market, I recommend IGPT with a Buy rating. Investment Thesis for IGPT TradingView The technology sector faced a rocky start to 2026 as investors transitioned the tone to risk-off, transitioning into investments seen as durable and value-oriented while growth and technology sat on the sidelines. As we enter q1’26 earnings season, I believe the growth theme will be revitalized with companies providing affirmation to the market that growth is still to come. For example, Alphabet ( GOOGL ), the second largest holding in IGPT at 7.72%, recently announced an indirect partnership with Anthropic to deliver 3.5GW of TPU capacity over the coming years to facilitate AI applications. This was a major win for Alphabet and its partner, Broadcom ( AVGO ) as it solidifies the growth theme for custom silicon beyond Nvidia’s ( NVDA ) GPU dominance since the beginning of the AI revolution. While this could potentially be viewed as a negative catalyst for Nvidia, I believe this couldn’t be further from the truth. Given the investments going into expanding data center capacity, compute capacity can be shared across developers while still maintaining these high growth rates. The major hyperscaler...
primeimages/iStock via Getty Images Introduction NexPoint Diversified Real Estate Trust's ( NXDT ) Series A 5.5% fixed-rate preferred shares ( NXDT.PR.A ) have slipped so far in 2026, impacted by marginally higher U.S. 30-year treasury yields ( US30Y ) and a shift in Fed rate cut expectations from 2026 to 2027/2028. Most notably, the pullback in NXDT.PR.A comes even as NXDT common stock has soared...
primeimages/iStock via Getty Images Introduction NexPoint Diversified Real Estate Trust's ( NXDT ) Series A 5.5% fixed-rate preferred shares ( NXDT.PR.A ) have slipped so far in 2026, impacted by marginally higher U.S. 30-year treasury yields ( US30Y ) and a shift in Fed rate cut expectations from 2026 to 2027/2028. Most notably, the pullback in NXDT.PR.A comes even as NXDT common stock has soared in 2026, which naturally improves coverage for preferred equity. I believe this divergence between common and preferred shares creates a buying opportunity in the Series A preferreds, thus confirming my previous Buy rating on NXDT.PR.A . The bullish investment thesis for the Series A preferreds can be summarized as: Preferred equity coverage by common equity market capitalization has improved to 2.4x following recent price gains in NXDT common stock. This safety cushion is further amplified by the sizable 47% book value discount the Series A preferreds trade at. The current dividend yield, at around 10.36%, provides high current income while investors wait for further operating performance in NXDT's portfolio, which would ultimately allow for full coverage of the dividend by adjusted FFO. Safety Of Preferred Dividends In 2025, NXDT paid $5.14 million in preferred dividends . Since adjusted FFO stood at negative $4.2 million after preferred distributions, we see that preferred dividends were not covered by standard REIT operating metrics. As a reminder, NXDT's adjusted FFO accounts for one-off items such as unrealized losses, equity-based compensation, and termination fees, thus providing a good snapshot of underlying operating performance. Preferred dividends and adjusted FFO (NXDT 2025 annual report) The silver lining is that NXDT managed to narrow its adjusted FFO loss in 2025, benefiting from 3.3% Y/Y revenue growth, flat operating expenses, and a lower interest expense. As such, even though NXDT has clearly not yet achieved a full turnaround, the company is indeed maki...
Shares of STMicroelectronics ( STM ) jumped over 12% in afternoon trading on Thursday after the company posted strong first-quarter sales , along with a second-quarter revenue outlook that surpassed estimates. The jump in the share price has put investors’ focus on ETFs that have significant exposure to the European semiconductor manufacturing and design company’s stock. Below are some ETFs with t...
Shares of STMicroelectronics ( STM ) jumped over 12% in afternoon trading on Thursday after the company posted strong first-quarter sales , along with a second-quarter revenue outlook that surpassed estimates. The jump in the share price has put investors’ focus on ETFs that have significant exposure to the European semiconductor manufacturing and design company’s stock. Below are some ETFs with the largest portfolio allocations to STM: STMicroelectronics NV ADRhedged ( STHH ); 96.92% allocation. YieldMax Semiconductor Portfolio Option Income ETF ( CHPY ); 3.02% allocation. SWP Growth & Income ETF ( SWP ); 2.38% allocation. SPDR S&P Kensho Smart Mobility ETF ( HAIL ); 1.86% allocation. Defiance Quantum ETF ( QTUM ); 1.59% allocation. YieldMax Target 12 Semiconductor Option Income ETF ( SOXY ); 1.29% allocation. VanEck Semiconductor ETF ( SMH ); 0.86% allocation. Vaneck Robotics ETF ( IBOT ); 0.81% allocation. Cultivar ETF ( CVAR ); 0.61% allocation. First Trust S-Network Future Vehicles & Technology ETF ( CARZ ); 0.61% allocation. iShares Semiconductor ETF ( SOXX ); 0.59% allocation. Other ETFs related to STM: ( SOXL ), ( SHOC ), ( DFIV ), and ( KOMP ). More on STMicroelectronics STMicroelectronics At An Inflection Point STMicroelectronics surges after Q1 revenue soars, Q2 sales outlook beats estimates STMicroelectronics projects Q2 2026 revenue of $3.45B as it targets data center revenue well above $1B for 2027
Key PointsFidelity Investment Grade Bond ETF provides a significantly higher dividend yield than State Street SPDR S&P 500 ETF Trust but carries a higher expense ratio.
Key PointsFidelity Investment Grade Bond ETF provides a significantly higher dividend yield than State Street SPDR S&P 500 ETF Trust but carries a higher expense ratio.
Cox’s move from teatime slot comes after Mills was sacked over allegations about his personal conduct Sara Cox will take over as the new host of the BBC Radio 2 breakfast show; replacing Scott Mills after his sacking over allegations about his personal conduct. The announcement comes as the BBC faces pressure to explain who knew what and when in relation to a 2017 police investigation into Mills o...
Cox’s move from teatime slot comes after Mills was sacked over allegations about his personal conduct Sara Cox will take over as the new host of the BBC Radio 2 breakfast show; replacing Scott Mills after his sacking over allegations about his personal conduct. The announcement comes as the BBC faces pressure to explain who knew what and when in relation to a 2017 police investigation into Mills over allegations of sexual abuse. The corporation has confirmed it was first made aware of the police investigation in 2017. No charges were brought and Mills remained in his job. Continue reading...
Alex Cooper’s podcasting empire Unwell is facing turbulence on several fronts . The host of Call Her Daddy , the fourth-most popular podcast in the US — is confronting employee complaints about her husband and business partner Matt Kaplan’s volatile outbursts and a public dispute with influencer Alix Earle. This week, Unwell held an all-hands meeting to address staff over concerns about the startu...
Alex Cooper’s podcasting empire Unwell is facing turbulence on several fronts . The host of Call Her Daddy , the fourth-most popular podcast in the US — is confronting employee complaints about her husband and business partner Matt Kaplan’s volatile outbursts and a public dispute with influencer Alix Earle. This week, Unwell held an all-hands meeting to address staff over concerns about the startup’s show launches, employee retention and complaints about Kaplan’s behavior. Neither Cooper nor Kaplan attended. Here’s what you need to know, if you’re just catching up. Husband, Co-CEO Allegedly Screamed at Staff Unwell is facing employee turnover, a sputtering slate of shows and discord between staff members and Cooper’s husband, according to people familiar with the company’s operations. The business sits inside a company called Trending, which Cooper and Kaplan co-founded in 2023. It houses a collection of Cooper’s lifestyle podcasts as well as his production company, ACE Entertainment. Kaplan, who runs day-to-day operations, has reportedly developed a reputation for yelling at staff members. The issues have grown so acute that crew members have threatened to walk off the job at film sets and live tours if he doesn’t keep his distance. During the filming of the Unwell Winter Games for YouTube, Kaplan berated the staff on set and threatened to prevent them from ever working in Hollywood again if they messed up. A prominent, long-experienced crew member broke down in tears. Others filed complaints through the formal, on-set process and eventually told leadership they would quit if Kaplan didn’t behave better. Feuding With Former Unwell Star Ongoing tension spilled out into the open between Cooper and another highly popular influencer Alix Earle, who abruptly left Unwell last year. The recent drama began earlier this month when Earle reposted a TikTok video that was critical of Cooper, calling her an \ Cooper responded with a video urging Earle to \ Staff Turnover In the...
Erik Isakson/DigitalVision via Getty Images Investment Summary I rate Nebius ( NBIS ) as a Buy with the price target of $220, or about 41%of the upside of the current price at $156.14. It is a simple thesis : Nebius is among the only slightly few actual AI cloud firms that have translated the AI infrastructure demand narrative into signed deals with the biggest technological firms in the world, an...
Erik Isakson/DigitalVision via Getty Images Investment Summary I rate Nebius ( NBIS ) as a Buy with the price target of $220, or about 41%of the upside of the current price at $156.14. It is a simple thesis : Nebius is among the only slightly few actual AI cloud firms that have translated the AI infrastructure demand narrative into signed deals with the biggest technological firms in the world, and I believe that the market is still pricing it as though that evidence has not yet entirely come in. The demand is already there . Microsoft ( MSFT ) has invested between $17.4 and $19.4 billion, Meta ( META ) has signed a new deal worth up to $27 billion, and NVIDIA ( NVDA ) invested directly into the company to the tune of $2 billion and formalized a partnership to deploy over 5 gigawatts of NVIDIA systems by 2030. The valuation has a clear path. I value Nebius on the 2026 exit ARR guidance of $7 billion to $9 billion, suppose $8.5 billion on the upper-end, and multiply it by 7x to come up with the approximate value of $235 per share, but bring it down to $220 by a modest 6 percent discount of dilution risk and execution risk. The unit economics already work. Currently, prior to the buildout even being completed, the Q4 2025 release has a core AI cloud producing a revenue of $214.2 million with a 24% adjusted EBITDA margin. The question of profitability is no longer a hypothetical one, and that makes the nature of the bet significant. What Nebius Actually Does Nebius AI Solutions (Nebius) Nebius is literally becoming an "all-in-one AI development store ", a cloud platform that does all the work, all the way down to the bottom (raw computing power) to deploying AI models into production. Its flagship product, Nebius AI Cloud, provides the AI teams with the resources they really require to execute heavy workloads, like GPU clusters, high-speed networking, scalable storage, and orchestration software, such as Kubernetes and Slurm. The interesting part is that instead of bei...