Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting ...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting with us, check out the Odd Lots Discord , where you can hang out and talk with us and with other listeners 24/7. Here’s what Tracy’s thinking about... It should be obvious by now that the impact of the Iran War will take time to work its way through the global economy. Last week, we still had ships unloading barrels of oil that they had picked up in the Gulf before the conflict began. Many companies have stockpiles of critical chemicals and materials that act as a buffer to immediate price shocks. And in agriculture, the full effects of higher fertilizer costs won’t really be fully felt until harvest. But when it comes to food, all the signs are already pointing to higher prices. Bank of America’s Commodity Inflation Trendspotter for food and beverage companies shows March input costs up a whopping 373 basis points to 7.9% year-on-year. That jump was driven mostly by diesel and heating oil, meaning we haven’t even seen much impact from things like higher plastics prices or fertilizer just yet. There’s a sequencing at play here. There’s also a layering effect as higher fertilizer costs get added on top of fuel expenses etc. Urea is a good example. On the podcast, we’ve talked about the surging cost of New Orleans (NOLA) urea , which is the main benchmark for wholesale nitrogen-based fertilizer coming into the US. Midwest or Corn Belt urea is the retail equivalent, or basically what farmers pay once you factor in the additional cost of transportation and storage (there’s that layering effect again). And as Ben Emons at Highline Asset Management points out, it usually takes ti...
The market started Tuesday in fine form with modest gains for the major indexes in the first couple of hours. But the optimism didn't last. As of 1:15 p.m. ET, the three leading indexes were down by at least 0.5% instead. These are still small moves, of course. None of the stocks with heavy weighting on the S&P 500 (SNPINDEX: ^GSPC) , Nasdaq-100 , or Dow Jones Industrial Average (DJINDICES: ^DJI) ...
The market started Tuesday in fine form with modest gains for the major indexes in the first couple of hours. But the optimism didn't last. As of 1:15 p.m. ET, the three leading indexes were down by at least 0.5% instead. These are still small moves, of course. None of the stocks with heavy weighting on the S&P 500 (SNPINDEX: ^GSPC) , Nasdaq-100 , or Dow Jones Industrial Average (DJINDICES: ^DJI) made large moves today. The mildly bearish action was built on a plethora of shallow price drops (and a couple of larger jumps or drops, making minor ripples across the broader market). There wasn't much news from the Iranian front today, which explains the gentle market action. Continue reading
Microsoft announced Tuesday that subscribers to its Game Pass service will see significant price reductions starting today. But those subscribers will also be losing included day-one access to Activision's popular Call of Duty series from now on. In the US, the price of a Game Pass Ultimate subscription will drop to $22.99 a month (down from $29.99, down roughly 23 percent), while the more limited...
Microsoft announced Tuesday that subscribers to its Game Pass service will see significant price reductions starting today. But those subscribers will also be losing included day-one access to Activision's popular Call of Duty series from now on. In the US, the price of a Game Pass Ultimate subscription will drop to $22.99 a month (down from $29.99, down roughly 23 percent), while the more limited PC Game Pass will drop to $13.99 a month (from $16.49, down roughly 22 percent). Going forward, neither subscription will include launch day access to new Call of Duty games, which will not be available on Game Pass until the following holiday season. Previous Call of Duty games will continue to be available to Game Pass subscribers, though. "Game Pass Ultimate has become too expensive for too many players," recently named Xbox CEO Asha Sharma said in a social media post accompanying the announcement, echoing sentiments shared in an employee memo leaked to The Verge last week . "We’ll keep learning and evolving Game Pass to better match what matters to players." Read full article Comments
The stock market has taken investors on a rollercoaster ride this year, with geopolitical and macroeconomic dynamics connected to the Iran war and other catalysts causing seesaw moves for equity valuations. Despite significant uncertainty on some important fronts, major indexes have recently gone on to hit fresh valuation highs. While geopolitical and macroeconomic developments will continue to ha...
The stock market has taken investors on a rollercoaster ride this year, with geopolitical and macroeconomic dynamics connected to the Iran war and other catalysts causing seesaw moves for equity valuations. Despite significant uncertainty on some important fronts, major indexes have recently gone on to hit fresh valuation highs. While geopolitical and macroeconomic developments will continue to have a powerful impact on movement for the broader market , the latest round of corporate earnings will also play a huge role in shaping investor sentiment. With that in mind, let's take a look at three big earnings reports arriving this week that could have ripple effects across the market. Image source: Getty Images. Continue reading
Several big-name companies are still privately held, meaning that retail investors can't put their money into them directly. The biggest, which is planning on going public in the near future, is SpaceX. Based on what we know about its initial public offering (IPO) plans, its market cap is estimated to be more than $1 trillion, so its early investors are poised to profit handsomely from their stake...
Several big-name companies are still privately held, meaning that retail investors can't put their money into them directly. The biggest, which is planning on going public in the near future, is SpaceX. Based on what we know about its initial public offering (IPO) plans, its market cap is estimated to be more than $1 trillion, so its early investors are poised to profit handsomely from their stakes. Another popular market segment is generative artificial intelligence (AI). Companies like OpenAI and Anthropic are generating a ton of buzz, but small investors can't invest in them, either. However, there's a way to gain some exposure to both SpaceX and Anthropic through a single investment right now. How? By investing in Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) . Continue reading
知情人士透露，德国电信公司考虑与T-Mobile US Inc．进行全面合并，此举将打造一家跨国电信集团，有望成为史上规模最大的上市并购交易。 知情人士表示，德国电信目前持有约53%的T-Mobile股份，是其最大股东。该公司正在讨论设立一家新的控股公司，由该公司对德国电信和T-Mobile发出股票收购要约。由于信息未公开，这些人士要求匿名。 潜在交易将形成一个更为简化的单一企业结构，统一控制德国...
知情人士透露，德国电信公司考虑与T-Mobile US Inc．进行全面合并，此举将打造一家跨国电信集团，有望成为史上规模最大的上市并购交易。 知情人士表示，德国电信目前持有约53%的T-Mobile股份，是其最大股东。该公司正在讨论设立一家新的控股公司，由该公司对德国电信和T-Mobile发出股票收购要约。由于信息未公开，这些人士要求匿名。 潜在交易将形成一个更为简化的单一企业结构，统一控制德国电信和T-Mobile的运营，并由两家公司现有股东共同持有。部分知情人士称，合并后的实体可能会在美国和欧洲主要交易所上市，但具体细节仍在研究中。 消息人士称，相关讨论仍处于初步阶段，任何交易推进都需要获得政治层面的支持，且具体方案仍可能发生变化。两家公司多年来一直断断续续探讨加强合作，但此次是否会推进仍存在不确定性。 德国电信发言人在邮件声明中表示：“按照惯例，德国电信和T-Mobile US不会就公司业务活动的市场猜测发表评论，我们也没有更多具体信息可供回应。”T-Mobile发言人拒绝置评。 责任编辑：丁文武
jetcityimage/iStock Editorial via Getty Images UnitedHealth Group Incorporated ( UNH ) has had a tough year and a half, with huge increases to cost ratios, management shifts, and concerns over reimbursement. However, we have been on watch for confirmation of an earnings inflection the last few quarters since Q2 2025. We now have that confirmation. UNH is back. We did learn recently that there woul...
jetcityimage/iStock Editorial via Getty Images UnitedHealth Group Incorporated ( UNH ) has had a tough year and a half, with huge increases to cost ratios, management shifts, and concerns over reimbursement. However, we have been on watch for confirmation of an earnings inflection the last few quarters since Q2 2025. We now have that confirmation. UNH is back. We did learn recently that there would be a better than expected increase in Medicare Advantage service reimbursement rates coming. That started a rally in shares, and then we had the market rally broadly with the Iran ceasefire. Today shares are higher thanks to the just-reported Q1 earnings and the outlook. Let us discuss. UnitedHealth Q1 Earnings Headline Results The quarter was a double-line beat here, folks. This is an exciting result. And it was not a mild beat either; it was pretty significant. Sure, compared to a few years ago, the power is not very impressive, but we are in a new world now for this stock and similar names in the pace. We all knew it would be very earnings-light compared to years past. But it was a little better than last year, catching many by surprise. For total revenue, we thought it would be flat. But UnitedHealth Group's Q1 revenues grew 2% year-over-year, to $111.7 billion. This revenue print was a surprising beat of $2.06 billion over what was expected. UnitedHealth Q1 Earnings Segment Revenues We thought for Q1 there would be $84-$85 billion in revenue for UnitedHealth Care overall and $60-$63 billion for Optum revenues overall (that is, all three Optum lines of Optum Health, Insight, and RX combined). Of course, for total reported revenue, you always back out so-called eliminations. We expected declines in members in response to cost trends and controls. That is, we are looking for the company to try and be more efficient in the next few years, even if it means fewer members. UnitedHealthcare's Q1 revenues grew $1.7 billion from last year to $86.3 billion, with about 49.1 mill...
JHVEPhoto Lithia Motors ( LAD ) i s expected to announce a dividend increase this April, continuing its 15-year streak of continuous dividend growth. Based on past patterns, analysts expect a consensus annual dividend of ~$2.26 per share, which brings the quarterly dividend to ~$0.565 per share. This clearly implies an increase of ~2.7% from the current ~$0.55 dividend payout. The company last pai...
JHVEPhoto Lithia Motors ( LAD ) i s expected to announce a dividend increase this April, continuing its 15-year streak of continuous dividend growth. Based on past patterns, analysts expect a consensus annual dividend of ~$2.26 per share, which brings the quarterly dividend to ~$0.565 per share. This clearly implies an increase of ~2.7% from the current ~$0.55 dividend payout. The company last paid a dividend of ~$0.55 per share in January 2026, which comes to an annual yield of ~0.76%. However, earlier, in April last year, it raised the dividend by ~3.8%, from ~$0.53 to ~$0.55. Over the past five years, the company has delivered a dividend growth rate of ~12.33% and currently maintains a payout ratio of ~6.44%. Moreover, as per dividend metrics ratings , the company carries an A+ for safety, a C+ for growth, a D+ for yield, and a B+ for consistency. Now, investors should keep a close watch on the Q1 2026 results, which will be released on Wednesday, April 29, 2026, before the market opens. More on Lithia & Driveway Lithia Motors: An Undervalued Stock With OEM-Backed Flywheel Business Model Lithia Motors, Inc. (LAD) Q4 2025 Earnings Call Transcript Lithia Motors, Inc. 2025 Q4 - Results - Earnings Call Presentation Lithia signals $2B–$4B annual M&A target while accelerating buybacks and DFC penetration Lithia & Driveway Q4 2025 Earnings Preview
Analysts at BNP Paribas have been pretty steady on Tesla, making the Wall Street firm one of the few with a bearish outlook on the stock. BNP Paribas has an underperform rating and a $280 price target on the stock (compared to the consensus hold rating and $397.26 price target, according to ...
Analysts at BNP Paribas have been pretty steady on Tesla, making the Wall Street firm one of the few with a bearish outlook on the stock. BNP Paribas has an underperform rating and a $280 price target on the stock (compared to the consensus hold rating and $397.26 price target, according to ...
Andranik Hakobyan/iStock via Getty Images Genuine Parts Company ( GPC ) reiterated on Tuesday that it is still on track to separate into two independent, publicly traded companies in 2027. The planned transaction will carve the company into a dedicated global automotive business, centered on its NAPA-branded automotive parts distribution network, and a separate global industrial business built aro...
Andranik Hakobyan/iStock via Getty Images Genuine Parts Company ( GPC ) reiterated on Tuesday that it is still on track to separate into two independent, publicly traded companies in 2027. The planned transaction will carve the company into a dedicated global automotive business, centered on its NAPA-branded automotive parts distribution network, and a separate global industrial business built around its motion industrial parts and services operations. The split is intended to be tax‑free for U.S. shareholders and is expected to create two "industry‑leading" companies with sharper strategic focus, simplified operations, and the ability to pursue tailored capital allocation and investment agendas. The board of directors of Genuine Parts ( GPC ) does not need shareholder approval to complete the separation, which remains subject to customary conditions, including SEC review of a Form 10. Details on names, boards, and executive teams will come later. Alongside its first-quarter earnings report, Genuine Parts ( GPC ) reaffirmed its full‑year 2026 guidance. Management described the upcoming separation as a continuation of a multi-year portfolio simplification and growth strategy designed to enhance long‑term shareholder value across both the automotive and industrial franchises. Shares of Genuine Parts ( GPC ) are down more than 20% since tension in the Middle East disrupted the auto supplier sector. More on Genuine Parts Genuine Parts Company (GPC) Q1 2026 Earnings Call Transcript Genuine Parts Company 2026 Q1 - Results - Earnings Call Presentation Genuine Parts: 69-Year Dividend King, Time To Buy At Historic High Yield Genuine Parts reaffirms 2026 adjusted EPS $7.50-$8.00 as separation targets Q1 2027 with $100M-$150M run-rate costs Genuine Parts Non-GAAP EPS of $1.77 beats by $0.02, revenue of $6.3B beats by $140M
Framework has been selling and shipping its modular, repairable, upgradable Laptop 13 for five years now, and in that time, it has released six distinct versions of its system board, each using fresh versions of Intel and AMD processors (seven versions, if you count this RISC-V one ). The laptop around those components has gradually gotten better, too. Over the years, Framework has added higher-re...
Framework has been selling and shipping its modular, repairable, upgradable Laptop 13 for five years now, and in that time, it has released six distinct versions of its system board, each using fresh versions of Intel and AMD processors (seven versions, if you count this RISC-V one ). The laptop around those components has gradually gotten better, too. Over the years, Framework has added higher-resolution screens in both matte and glossy finishes, a slightly larger battery, and other tweaked components that refine the original design. But so far, all of those parts have been totally interchangeable, and the fundamentals of the Laptop 13 design haven’t changed much. That changes today with the Framework Laptop 13 Pro, which, despite its name, is less an offshoot of the original Laptop 13 and closer to a ground-up redesign. It includes new Core Ultra Series 3 chips (codenamed Panther Lake), Framework’s first touchscreen, a new black aluminum color option, a larger battery, and other significant changes. Read full article Comments