Jersey Mike's, the second-largest hoagie chain in the U.S., has confidentially filed for an initial public offering, the company said in a press release issued earlier today. The company has over 3,200 locations. Image source: Getty Images. Continue reading
Jersey Mike's, the second-largest hoagie chain in the U.S., has confidentially filed for an initial public offering, the company said in a press release issued earlier today. The company has over 3,200 locations. Image source: Getty Images. Continue reading
GummyBone/iStock Editorial via Getty Images Apple's ( AAPL ) upcoming second-quarter results, set to be released on April 30, could be a “clearing event” for the stock and help pave the path towards a $300 share price, Morgan Stanley said. “We expect gross margin downside to be more than offset by revenue upside in the June quarter guide, making for a better than feared earnings and a clearing eve...
GummyBone/iStock Editorial via Getty Images Apple's ( AAPL ) upcoming second-quarter results, set to be released on April 30, could be a “clearing event” for the stock and help pave the path towards a $300 share price, Morgan Stanley said. “We expect gross margin downside to be more than offset by revenue upside in the June quarter guide, making for a better than feared earnings and a clearing event into WWDC this June, and the iPhone launch in September,” analyst Erik Woodring wrote in a note to clients. “While our gross margin forecast remains below consensus given rising memory cost pressure, continued strength in iPhone, Mac, and Services revenue should more than offset this pressure and result in a June quarter implied EPS guide in-line with Street estimates (~$1.74) – a better-than-feared outcome against relatively low expectations.” Woodring, who has an Overweight rating and a $315 price target on Apple, said that whatever the results and guidance may be, the tech giant is going into a “seasonally strong period of outperformance.” Revenue growth is likely to be “robust” (perhaps to the tune of 15%), due to share gains in multiple markets; this time of year has historically seen multiple expansion, ahead of a new iPhone; expectations are “low” for Apple's upcoming developer conference ; reports of a foldable iPhone coming in the fall may bring “genuine new product excitement,” and the company's “robust” free cash flow sets it apart from its competitors, many of whom are spending significant amounts of cash on artificial intelligence. “At 28x next year GAAP EPS – roughly the midpoint of Apple's historical 24-34x valuation range – valuation is neither cheap nor taxing, but with our ~$10 of FY27 EPS 5% above consensus, we see a path to $300 for Apple shares by this September, driven by modest multiple expansion and more robust positive EPS revisions,” Woodring added. More on Apple Apple: Inventory Does Not Lie Apple: More Attention On AI Strategy, Less On iPhone ...
Private market secondaries had a record 2025. Todd Miller of Jefferies joined Bloomberg Open Interest to explain why this once niche market is now core to institutional investing, how liquidity demand is fueling record growth, and why older private equity assets are still trading at steep discounts. A sharp look inside one of finance’s fastest-growing markets. (Source: Bloomberg)
Private market secondaries had a record 2025. Todd Miller of Jefferies joined Bloomberg Open Interest to explain why this once niche market is now core to institutional investing, how liquidity demand is fueling record growth, and why older private equity assets are still trading at steep discounts. A sharp look inside one of finance’s fastest-growing markets. (Source: Bloomberg)
Elon Musk, chief executive officer of Tesla Inc., during the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 22, 2026. The annual Davos gathering of political leaders, top executives and celebrities runs from Jan. 19-23. Photographer: Krisztian Bocsi/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images French prosecutors were waiting to see if tech billionaire Elon M...
Elon Musk, chief executive officer of Tesla Inc., during the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 22, 2026. The annual Davos gathering of political leaders, top executives and celebrities runs from Jan. 19-23. Photographer: Krisztian Bocsi/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images French prosecutors were waiting to see if tech billionaire Elon Musk would respond to a summons to appear before them on Monday for questioning as part of an investigation into X and its AI chatbot Grok in a probe related to fraudulent data extraction. It was not clear if Musk would attend the hearing and there was no sign of him at the main Paris courthouse. The date had been set in February when the Paris prosecutor's cybercrime unit raided the French office of social media platform X, which is owned by Musk. The probe, which has further strained relations between the U.S. and Europe over Big Tech and free speech, was later expanded to include suspected complicity in the distribution of child pornography and the creation of sexual deepfakes by Grok. While attendance at Monday's hearing is mandatory, the authorities at this stage cannot compel Musk, the world's richest man, to appear. Reuters could not reach representatives for Musk ahead of the summons. In July, Musk denied the initial accusations and said French prosecutors were launching a "politically-motivated criminal investigation". The Paris prosecutor's office declined to comment. X has come under scrutiny from regulators and governments in several countries since Musk's takeover of the platform, with authorities examining issues including content moderation, data practices and compliance with local laws. Prosecutors have said the French investigation centers on allegations X's algorithms distorted the treatment of content on the platform, that it improperly extracted user data and that it violated individuals' rights with sexually explicit deepfakes. Transatlantic divide In a ...
IURII BUKHTA Cannabis focused exchange traded funds are marking April 20 with a fittingly mixed tone, as the sector oscillates between being “high” over the past year and a near-term “burnout” in 2026. While most cannabis ETFs are trading lower year-to-date—pressured by regulatory uncertainty and uneven company performance—many remain elevated on a 12-month basis. The contrast underscores the indu...
IURII BUKHTA Cannabis focused exchange traded funds are marking April 20 with a fittingly mixed tone, as the sector oscillates between being “high” over the past year and a near-term “burnout” in 2026. While most cannabis ETFs are trading lower year-to-date—pressured by regulatory uncertainty and uneven company performance—many remain elevated on a 12-month basis. The contrast underscores the industry’s volatile nature, where bursts of optimism tied to policy developments can quickly fade into periods of consolidation. With 4/20 serving as both a cultural milestone and a symbolic checkpoint, investors are weighing whether the recent dip represents exhaustion or a setup for renewed momentum in a still-evolving market. Outlined below are a group of popular cannabis focused exchange traded funds along with how each fund has performed in 2026 AdvisorShares Pure US Cannabis ETF ( MSOS ) -9.5%. Amplify Alternative Harvest ETF ( MJ ) -11.5%. Amplify Alternative Harvest ETF ( CNBS ) -11.9%. AdvisorShares MSOS Daily Leveraged ETF ( MSOX ) -33.9%. AdvisorShares Pure Cannabis ETF ( YOLO ) -11.2%. Roundhill Cannabis ETF ( WEED ) -7.7%. More on markets Hormuz disruption lingers: Markets price gradual reopening, not a quick fix Energy and AI drive positive earnings revisions while most sectors stall HSBC says 1Q earnings remain resilient despite turbulent markets Henry Paulson sounds alarm on potential Treasury market shock S&P 500: I Sold Too Early, What Now? (Technical Analysis)
Tice’s image on X was almost certainly generated or altered using AI, according to Peryton Intelligence In a picture of a blue-skyed day in Birmingham, a diverse group of Reform supporters gathered with placards and cheesy grins to knock on doors for their party. Richard Tice, the party’s deputy leader, posted the picture as evidence of the activists’ commitment through thick and thin. “That is wh...
Tice’s image on X was almost certainly generated or altered using AI, according to Peryton Intelligence In a picture of a blue-skyed day in Birmingham, a diverse group of Reform supporters gathered with placards and cheesy grins to knock on doors for their party. Richard Tice, the party’s deputy leader, posted the picture as evidence of the activists’ commitment through thick and thin. “That is what resilience looks like,” he wrote. “This is what belief looks like.” Continue reading...
brightstars/iStock Unreleased via Getty Images I'm turning bullish on ICICI Bank Limited ( IBN ). Its 4QFY26 (YE March) beat and likely FY2027 financial improvement have made me optimistic about this name. IBN's mixed Q3 metrics were the focus of my prior January 20, 2026, update . Latest Earnings Were A Favorable Surprise The group revealed its financials on April 18. IBN bounced back from a -4% ...
brightstars/iStock Unreleased via Getty Images I'm turning bullish on ICICI Bank Limited ( IBN ). Its 4QFY26 (YE March) beat and likely FY2027 financial improvement have made me optimistic about this name. IBN's mixed Q3 metrics were the focus of my prior January 20, 2026, update . Latest Earnings Were A Favorable Surprise The group revealed its financials on April 18. IBN bounced back from a -4% YoY bottom-line contraction in 3QFY26 to register a +9% rise for 4QFY26. The actual INR137 billion figure exceeded the consensus projection by 7.9% . I've identified several factors behind the bank's beat. One of them is loan acceleration. IBN's Q4 credit book was 15.8% larger at INR15.5 trillion on a YoY basis. That's much better than the preceding quarter's +11.5%. The "Rural" portfolio witnessed 26% growth in the recent three-month period. I believe this segment leveraged a wider network. The firm's number of non-urban outlets went up 7%, or 115 units, in the past year. Separately, IBN's funding cost declined by 57bps from 4QFY2025's 5.00% to 4QFY2026's 4.32%. That helped to lift its "Net Interest Income/NII" by 8% to INR230B during the same period. At the analyst briefing , management attributed the NIM expansion to "deposit repricing." It's reasonable for me to assume that the delayed effects of rate cuts on client balances (versus loans) are starting to materialize. The bank's provisioning expense also fell 89% year-on-year to INR960 million for the final quarter of FY26. In my view, the improved asset profile meant that a smaller buffer was required. Its "Non-Performing Loan" or "NPL" ratio decreased by 9bps for Jan-Mar '25 to 0.33% in the recent three-month timeframe. IBN has become leaner too. The company's "Cost-to-Income/CIR" metric dropped from 3QFY2026's 40.8% to 4QFY26's 39.9%. In this period, the increase in staff costs moderated from +12.5% to +8.8%. Its earlier investor slides drew attention to IBN's online "onboarding platform DigiEase" and "process decong...