Pakistan’s army chief landed in Tehran to help revive US-Iran talks after failed negotiations in Islamabad. Field Marshal Asim Munir was welcomed by top Iranian officials amid ongoing mediation efforts. (Source: Bloomberg)
Pakistan’s army chief landed in Tehran to help revive US-Iran talks after failed negotiations in Islamabad. Field Marshal Asim Munir was welcomed by top Iranian officials amid ongoing mediation efforts. (Source: Bloomberg)
MikeMareen/iStock via Getty Images In May 2025, I added Oshkosh Corporation (NYSE: OSK ) to my coverage. In my view, as a provider of tactical wheeled vehicles to the U.S. Army and allied militaries, the company positioned well to benefit from growing defense budgets. Since then, the stock price has increased 50.5% sharply outperforming the S&P 500’s 17.9% gain. In this report, I revisit the stock...
MikeMareen/iStock via Getty Images In May 2025, I added Oshkosh Corporation (NYSE: OSK ) to my coverage. In my view, as a provider of tactical wheeled vehicles to the U.S. Army and allied militaries, the company positioned well to benefit from growing defense budgets. Since then, the stock price has increased 50.5% sharply outperforming the S&P 500’s 17.9% gain. In this report, I revisit the stock and explain why additional upside may still exist for the company’s stock prices after a massive appreciation in the stock price. Oshkosh Corporation: From Lifting Equipment To Tactical Vehicles Oshkosh Corp. Oshkosh Corporation is not a pure-play defense company. The company operates through three segments, namely: Access, which produces aerial work platforms and telehandlers. Vocational, which produces fire trucks, refuse vehicles, concrete trucks and municipal vehicles. Transport, which includes the family of medium tactical vehicles, heavy expanded mobility tactical trucks, palletized load systems, Medium Caliber Weapon System, robotic vehicles and a somewhat odd program for the United States Postal Service for the production of the Next Generation Delivery vehicle. We note that Transport, which includes the defense sales is actually not the big driver of improvement. That is because the segment is going through the ramp up of the next generation delivery vehicle and defense deliveries are still locked in lower margin legacy contracts. The Access sales does seem some upside from big projects but private non-residential construction which is a major driver for the business was weak. It leaves the Vocational segment as the best performing segment at present. Oshkosh Corp. During the fourth quarter, the company saw its sales increase by 3.5% driven by higher Access volumes and Vocational pricing. That, however, could not offset the dilutive impact from the Transport segment where the next-generation delivery vehicle program is diluting margins and some defense programs co...
Pacific Investment Management Co. is snapping up European government bonds after a sharp selloff sparked by the Middle East war. The US asset manager has moved from being underweight on the region’s debt before the conflict to overweight now, adding exposure in its global bond funds, according to Andrew Balls , its chief investment officer for global fixed income. He saw a mispricing driven by the...
Pacific Investment Management Co. is snapping up European government bonds after a sharp selloff sparked by the Middle East war. The US asset manager has moved from being underweight on the region’s debt before the conflict to overweight now, adding exposure in its global bond funds, according to Andrew Balls , its chief investment officer for global fixed income. He saw a mispricing driven by the sudden unwinding of previously popular trades. “There were crowded positions in markets, which may well have contributed to the repricing,” Balls told a Pimco conference in London, highlighting particularly sharp moves in UK and European short-dated bonds, European rates volatility , as well as the euro interest-rate swap curve. “We’ve added in Europe.” The swings in European and UK bonds have stood out in recent weeks in terms of their speed and scale, and some say the ructions were magnified by a rush of hedge funds exiting positions . Pimco also touted “opportunities to invest against the prevailing narrative” last month, favoring exposure to more interest-rate sensitive global bonds. Others remain skeptical given disruptions to energy supplies may keep prices elevated even if there’s a peace deal, adding to inflation. Money markets are still pricing interest-rate hikes this year from both the European Central Bank and the Bank of England, in a turnaround from bets before the conflict started. Read more: War Turns UK Bonds From Market Favorite Into Thorny Trade Balls dismissed comparisons to 2022, when an inflation shock led central banks to aggressively hike rates. Still, he’s retaining a cautious stance given the economic uncertainty, leading him to emphasize the need for diversification. Pimco also has exposure to other sovereign bond markets including the US, UK and Australia, as well as emerging markets such as South Africa and Peru. For corporate bonds and the US dollar, Balls retains a neutral stance. Pimco’s Global Bond Fund has returned 0.5% over the past month...
Mark Mobius, who put emerging markets on investors’ radar with on-the-ground insights over more than four peripatetic decades, has died. He was 89. Bloomberg contributors share personal memories and look back at some of his most iconic interviews. (Source: Bloomberg)
Mark Mobius, who put emerging markets on investors’ radar with on-the-ground insights over more than four peripatetic decades, has died. He was 89. Bloomberg contributors share personal memories and look back at some of his most iconic interviews. (Source: Bloomberg)
LumerB/iStock via Getty Images In this article, I'll be taking a look at a relatively new electrical components company that seems to have been raising eyebrows as of late. The company is called Nextpower ( NXT ) and has, since about mid-2025, moved from less than $45/share to above $114/share, where it trades today. The company has a market capitalization of $17B, almost completely lacks debt, an...
LumerB/iStock via Getty Images In this article, I'll be taking a look at a relatively new electrical components company that seems to have been raising eyebrows as of late. The company is called Nextpower ( NXT ) and has, since about mid-2025, moved from less than $45/share to above $114/share, where it trades today. The company has a market capitalization of $17B, almost completely lacks debt, and has been able to grow its earnings at remarkable rates in the triple digits. Bulls are very positive on the business, and many ratings are bullish. The company has "BUY" ratings from SA, from Wall Street, and from Quant, which even puts the company at a "STRONG BUY". I thought it a good idea to check out the company and see what this is about - especially since for about 4 months now, the development has been more "flat" than before. Does this represent more of a temporary stopping point before new growth and earnings heights, or is the company's story "over" here, and investors should expect normalization of earnings (in which case profit rotation is a good idea). I've been reading up on NXT for about a week at this point, and I'm prepared to deliver my initial verdict and view on the company's premium as well as on the company's operations and upside. To those unfamiliar with the company, NXT works with solar power plants. By that I mean that they provide what I would consider a near-vertically integrated platform and service for the design, engineering, and supplying of solar trackers . These are basically movers for solar panels, designed to enable the panels to follow the path of the sun. This increases solar panel efficiency, according to the company, by about 20-30% compared to a standard system. The software uses AI and machine learning, so the company has a correlation, or "tilt", if you pardon the pun, to this segment as well. But NXT is expanding, and this is what makes it interesting. Nextpower - Interesting Operations, Profitable Solutions Far from "only" sup...
Zimbabwe’s dollar-denominated stock exchange has eclipsed the country’s 132-year-old main bourse, propelled by the biggest listing in the nation’s history. The Victoria Falls Stock Exchange, established during a currency crisis in 2020, has overtaken the Zimbabwe Stock Exchange by market value after tycoon Strive Masiyiwa transfered telecommunications infrastructure firm Econet InfraCo Ltd. to the...
Zimbabwe’s dollar-denominated stock exchange has eclipsed the country’s 132-year-old main bourse, propelled by the biggest listing in the nation’s history. The Victoria Falls Stock Exchange, established during a currency crisis in 2020, has overtaken the Zimbabwe Stock Exchange by market value after tycoon Strive Masiyiwa transfered telecommunications infrastructure firm Econet InfraCo Ltd. to the platform at a $1 billion valuation on March 31. The listing accounts for almost a quarter of VFEX’s total capitalization. VFEX’s 19 listings — many of which, like Econet InfraCo, migrated from the ZSE — were valued at about $3.79 billion as of Wednesday, surpassing the $3.4 billion market capitalization of 43 counters that trade in the local ZiG currency on the Harare-based stock exchange. The transition isn’t a reflection of Zimbabwe’s economy suddenly expanding, but rather a structural reordering of its equity markets, Mary Musariri, an equities analyst at MMC Capital, said in response to emailed questions. “VFEX has become the anchor for liquidity in hard currency, attracting foreign and institutional investors who value dollar stability and easier dividend repatriation,” Musariri said. That’s changed the investor base toward international capital, while the ZSE is increasingly dominated by retail and local-currency exposure, she said. The shift is unfolding as global shocks — from the US-Israeli war with Iran to persistent currency instability at home — drive demand for dollar-based assets, reinforcing the appeal of offshore-style platforms like VFEX. “The broader implication is that VFEX is becoming the benchmark exchange for Zimbabwe’s largest corporates, while the ZSE risks being relegated to a secondary role,” Musariri said. This leaves it more volatile and increasingly tied to a shrinking pool of heavyweight stocks, she said. New Listings The dollar-denominated exchange expects to attract at least four new listings this year, Chief Executive Officer Justin Bgoni s...