M.photostock/iStock via Getty Images Investment Thesis The Fidelity Stocks For Inflation ETF ( FCPI ) continues to perform well this year without taking any significant sector risks, and based on its strong factor mix, I expect that strong performance to continue throughout 2026. As I'll highlight below, FCPI has terrific portfolio-level earnings growth rates, trades at just 15.80x forward earning...
M.photostock/iStock via Getty Images Investment Thesis The Fidelity Stocks For Inflation ETF ( FCPI ) continues to perform well this year without taking any significant sector risks, and based on its strong factor mix, I expect that strong performance to continue throughout 2026. As I'll highlight below, FCPI has terrific portfolio-level earnings growth rates, trades at just 15.80x forward earnings, and has operating margins that exceed its Russell 1000 Index benchmark. FCPI's success is an excellent example of how to use fundamental analysis to find opportunities in the ETF space, so just like one year ago , I've assigned FCPI a "buy" rating, and I look forward to explaining why in further detail below. FCPI Overview: A Multi-Factor Strategy With Inflation-Friendly Sector Tilts FCPI tracks the Fidelity Stocks For Inflation Factor Index, which uses a multi-factor model to select from a universe of the 1,000 largest U.S. stocks based on market cap. The Index's model calculates scores covering the value, quality, and momentum factors, equal weights them to create a composite score, adds a size factor adjustment to allow smaller stocks achieve a higher weight, and then applies adjustments to select sectors and industries based on their expected strength in rising inflation environments. A summarize of this framework is below, courtesy of the Index's methodology document . Fidelity As shown, the Index increases exposure to Energy, Materials, Consumer Staples, and Health Care with an overweight adjustment of +5% relative to the Base Index. Real Assets & Infrastructure are also overweighted at the expense of Communication Services, Consumer Discretionary, Financials, Industrials, and Technology. It's important not to ignore the Index's factor screens. In my view, the system is pretty comprehensive, covering metrics like free cash flow yield, return on invested capital, and twelve-month earnings surprises. Each factor is weighted equally in the composite scoring system, an...
Wirestock The New York State Common Retirement Fund has called on eXp World ( EXPI ) shareholders to vote against the proposed reincorporation of the real estate brokerage from Delaware to Texas and against all its directors in the wake of a court ruling. Three separate sexual harassment lawsuits were filed against eXp Realty: two in California in 2023 and one in Florida in 2025, a report by the N...
Wirestock The New York State Common Retirement Fund has called on eXp World ( EXPI ) shareholders to vote against the proposed reincorporation of the real estate brokerage from Delaware to Texas and against all its directors in the wake of a court ruling. Three separate sexual harassment lawsuits were filed against eXp Realty: two in California in 2023 and one in Florida in 2025, a report by the New York Times said on Wednesday. The company proposed the move after a Delaware judge ruled that a lawsuit could be allowed against certain company employees and directors, according to New York State Comptroller Thomas DiNapoli, trustee of the fund. The fund held about 27K shares of eXp Realty's parent company, the New York Times said, noting the firm has more than 300 investors holding about 160M shares in total. The lawsuit alleged a cover-up of "rape culture" at the firm. Laws in Texas limit shareholders' rights to hold companies accountable. "The timing of this abrupt move—from a state where an adverse ruling occurred in a case seeking to hold the company's leadership responsible, to a state where they may be shielded from future accountability—is highly suspect and should raise concerns for all investors," said DiNapoli. Additionally, DiNapoli has also urged shareholders to vote against all six eXp director nominees, including the CEO, board chair, and directors who were named in the Delaware lawsuit, at the company's April 24 annual general meeting. More on eXp World eXp World Holdings, Inc. (EXPI) Q4 2025 Earnings Call Transcript EXp World Holdings outlines $4.85B–$5.15B 2026 revenue target amid AI-driven expansion and agent productivity gains Small-cap stocks with lowest dividend yield grade Seeking Alpha’s Quant Rating on eXp World Historical earnings data for eXp World
According to a recent SEC filing dated April 13, 2026, BFI Infinity Ltd. initiated a new position in ETF Series Solutions - Defiance Quantum ETF (NASDAQ:QTUM) by acquiring 103,726 shares. At quarter-end, the position was valued at $11.13 million, reflecting both the share purchase and market price changes. This new position in QTUM accounted for 6.24% of BFI Infinity Ltd.'s reportable 13F AUM as o...
According to a recent SEC filing dated April 13, 2026, BFI Infinity Ltd. initiated a new position in ETF Series Solutions - Defiance Quantum ETF (NASDAQ:QTUM) by acquiring 103,726 shares. At quarter-end, the position was valued at $11.13 million, reflecting both the share purchase and market price changes. This new position in QTUM accounted for 6.24% of BFI Infinity Ltd.'s reportable 13F AUM as of March 31, 2026. Top holdings after the filing: Continue reading
Prediction markets are signaling skepticism that escalating rhetoric from President Donald Trump toward Federal Reserve Chair Jerome Powell will translate into any immediate action. On Kalshi, traders currently assign just a 14% probability that Trump will attempt to remove Powell from his position as Fed chair or governor before May 15, 2026. Extending the time horizon, the implied odds rise mode...
Prediction markets are signaling skepticism that escalating rhetoric from President Donald Trump toward Federal Reserve Chair Jerome Powell will translate into any immediate action. On Kalshi, traders currently assign just a 14% probability that Trump will attempt to remove Powell from his position as Fed chair or governor before May 15, 2026. Extending the time horizon, the implied odds rise modestly, with markets pricing in a 37% chance of such a move occurring before 2027. The muted probabilities come despite Trump’s recent warning that he would seek to terminate Powell's employment if he does not step down from the Federal Reserve’s Board of Governors “on time.” Trump also reaffirmed that he has no intention of halting a Department of Justice probe related to Powell while emphasizing the need to investigate concerns surrounding the central bank’s ongoing building project. Overall, market pricing suggests participants view the political and legal hurdles to removing a sitting Fed chair as significant, limiting expectations for near-term action. Market Tracking ETFs: ( DIA ), ( DDM ), ( DOG ), ( DXD ), ( SDOW ), ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( QQQ ), ( QQQM ), ( TQQQ ), ( QID ), and ( SQQQ ). More on markets Narrow tech rally powers market higher despite weak breadth Artificial Intelligence boom redefines corporate debt markets, Apollo says S&P 500 returns to positive territory and erases Middle East conflict losses Geopolitical conflicts overshadow inflation as the top market threat, according to BofA Only 50/50 odds that the Strait of Hormuz normalizes by July according to prediction markets
Voren1/iStock via Getty Images Overview When I previously covered the John Hancock Premium Dividend Fund ( PDT ), I issued a buy rating due to the attractive discount and growth catalysts at the time. Since then, the fund has provided a positive total return through its consistent distributions. However, the fund has released an updated annual report for the 2025 period and I wanted to revisit the...
Voren1/iStock via Getty Images Overview When I previously covered the John Hancock Premium Dividend Fund ( PDT ), I issued a buy rating due to the attractive discount and growth catalysts at the time. Since then, the fund has provided a positive total return through its consistent distributions. However, the fund has released an updated annual report for the 2025 period and I wanted to revisit the fund's current valuation, performance metrics, and outlook for income investors. After careful consideration, I am downgrading my rating to a hold. As market indices recover, PDT's underperformance gap may widen and the focus on dividends becomes less appealing. When I previously covered PDT, the fund traded at a smaller discount to NAV of 4.22%. Following the recent pullback in its share price, the fund now trades at a larger discount to NAV of 9.95%. For reference, the fund has traded at an average discount to NAV of 0.22% over the last five year period. Referring to the red line on the graph below, we can see that PDT now trades at one of its deepest discount to NAV levels over the last five years. While the discount may be seen as an opportunity to accumulate, I also believe that it is a direct reflection of the fund's current challenges. Therefore, valuation here is a bit tricky as it ultimately comes down to PDT's ability to grow its NAV. CEF Data PDT now offers investors a starting dividend yield of 7.4%, while issuing those payouts on a monthly basis. Although the latest annual report confirms that PDT is capable of supporting these distributions with its earnings, I believe that the historical data indicates the fund is a poor choice for income investors. The fund has a history of lowering payouts and any future raises are unlikely as long as the NAV growth is minimal. The failure to grow its NAV is an issue because it indicates that something needs to be structurally adjusted within the portfolio. Fund Strategy According to the latest investor fact sheet , PDT ha...
Israel’s security cabinet will convene on Wednesday to discuss a possible Lebanon ceasefire, a senior Israeli official has said, more than five weeks into a war with Hezbollah that spiralled out of the US-Israeli conflict with Iran. Israeli Prime Minister Benjamin Netanyahu’s security cabinet would meet at 8pm local time, the official said. Senior Hezbollah official Ibrahim al-Moussawi told Reut...
Israel’s security cabinet will convene on Wednesday to discuss a possible Lebanon ceasefire, a senior Israeli official has said, more than five weeks into a war with Hezbollah that spiralled out of the US-Israeli conflict with Iran. Israeli Prime Minister Benjamin Netanyahu’s security cabinet would meet at 8pm local time, the official said. Senior Hezbollah official Ibrahim al-Moussawi told Reuters that diplomatic efforts by Iran and other regional states could produce a ceasefire soon, saying...
The major market indexes (^DJI, ^IXIC, ^GSPC) remain in striking distance to new record highs after recent rallies have erased the losses seen since the start of the US-Iran war. Mahoney Asset Management CEO Ken Mahoney and Yahoo Finance Senior Markets Reporter Ines Ferré further examine the AI outlook on tech giants like Microsoft (MSFT), Apple (AAPL), and ASML (ASML).
The major market indexes (^DJI, ^IXIC, ^GSPC) remain in striking distance to new record highs after recent rallies have erased the losses seen since the start of the US-Iran war. Mahoney Asset Management CEO Ken Mahoney and Yahoo Finance Senior Markets Reporter Ines Ferré further examine the AI outlook on tech giants like Microsoft (MSFT), Apple (AAPL), and ASML (ASML).
Ireland’s Ornua , the maker of Kerrygold butter, said higher costs resulting from the Middle East conflict are showing up in supply chains, in the latest warning that the war is driving food inflation. Fuel, energy and fertilizer prices have risen as the war chokes off supplies through the crucial Strait of Hormuz waterway, making it more expensive to produce food. The rise in costs has impacted f...
Ireland’s Ornua , the maker of Kerrygold butter, said higher costs resulting from the Middle East conflict are showing up in supply chains, in the latest warning that the war is driving food inflation. Fuel, energy and fertilizer prices have risen as the war chokes off supplies through the crucial Strait of Hormuz waterway, making it more expensive to produce food. The rise in costs has impacted farmers around the world, and in Ireland sparked protests against the government’s handling of the costs. The chief executive officer of Ireland’s Ornua on Wednesday said that its ability to absorb significant costs is limited, and that higher prices will ultimately feed through to consumers. “Processors are energy intensive, and for any of them that are using either fuel oil or gas in particular, they would’ve seen an increase in cost in the last couple of months,” CEO Conor Galvin said in an interview following Ornua’s full-year results . Still, “what we do try to do where we can is offset internally.” The US is one of the most significant markets for the company’s Kerrygold products. It also holds market-leading positions in Germany and the UK, and is seeing growth in the Middle East and Africa. Read More: Middle East Conflict Weighs on Global Food Prices, FAO Says Galvin also said that the availability of fertilizer for grass-fed products could be an another issue for the company. The Gulf region has become a significant producer of nitrogen fertilizers in recent decades, and farmers have been scrambling to secure enough of the products while they can as the war disrupts exports from the region. “If supply chains are significantly disrupted then fertilizer coming into the country could be a challenge,” he said. “What we have to be really careful about is being as efficient as possible.” US Market Separately, Ornua said its retail sales of Kerrygold — the second-largest butter brand in the US — exceeded $1 billion there for the first time last year. Still, tariff uncertai...
President Trump once again threatened to fire Federal Reserve Chair Jerome Powell, and doubled down on a discredited probe of the central bank. (Image credit: Chip Somodevilla)
President Trump once again threatened to fire Federal Reserve Chair Jerome Powell, and doubled down on a discredited probe of the central bank. (Image credit: Chip Somodevilla)
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
laddawan punna/iStock via Getty Images By Reed Cassady, CFA, Sam Peters, CFA & Jean Yu, CFA, Ph.D. Value Resilience Amid Volatility Market Overview The first quarter of 2026 was defined by heightened macro-driven volatility, as markets contended with geopolitical shocks, shifting rate expectations and evolving economic expectations. While headline index performance appeared relatively stable prior...
laddawan punna/iStock via Getty Images By Reed Cassady, CFA, Sam Peters, CFA & Jean Yu, CFA, Ph.D. Value Resilience Amid Volatility Market Overview The first quarter of 2026 was defined by heightened macro-driven volatility, as markets contended with geopolitical shocks, shifting rate expectations and evolving economic expectations. While headline index performance appeared relatively stable prior to the pullback that followed the onset of the Iran conflict, underlying market conditions were far more turbulent, with sharp rotations and episodic drawdowns reflecting a market increasingly influenced by top-down forces rather than company-specific fundamentals. This dynamic contributed to rapid and often counterintuitive shifts in market leadership as investor sentiment adjusted quickly to changing macro conditions and policy signals. Against this backdrop, value stocks outperformed meaningfully, with the benchmark Russell 1000 Value Index returning 2.1% and the Russell 1000 Index and the Russell 1000 Growth Index falling 4.2% and 9.8%, respectively. Elevated valuations within growth equities left them more susceptible to multiple compression as interest rate expectations moved higher and uncertainty increased, while value-oriented sectors — particularly those tied to energy and other real assets — benefited from rising commodity prices and improving earnings expectations. Geopolitical developments added a significant layer of complexity. The escalation of tensions in the Middle East, including disruptions to energy supply through the Strait of Hormuz, triggered volatility spikes and forced a repricing of inflation and growth risks. Rising energy prices heightened concerns around stagflation, while uncertainty around the duration of the disruption led to sharp swings in sentiment. These conditions generally favored more cyclical and asset-sensitive areas of the market, further supporting value performance. "Sharp rotations and drawdowns reflect a market influenced by t...
Vanit Janthra/iStock via Getty Images Shares of Bloom Energy ( BE ) have been on fire, hitting an all-time high after the company reached a big deal with Oracle ( ORCL ) in an effort to provide power to fuel the AI boom. Investors reacted wildly enthusiastically to this, given the rapid deployment and the size of the contract, as this can be a game changer for data centers and other electricity us...
Vanit Janthra/iStock via Getty Images Shares of Bloom Energy ( BE ) have been on fire, hitting an all-time high after the company reached a big deal with Oracle ( ORCL ) in an effort to provide power to fuel the AI boom. Investors reacted wildly enthusiastically to this, given the rapid deployment and the size of the contract, as this can be a game changer for data centers and other electricity users. Customers who are currently constrained by limitations imposed by limited grid capacity and others now appear to have a credible alternative. Other than speed, the configuration, efficiency, and tailor-made solutions at the right voltages are key other benefits, making Bloom a very interesting name to keep track of (one of which we watch at Value In Corporate Events ), even as expectations have exploded already last year. About the Oracle Deal Bloom Energy has reached an expanded partnership with Oracle to support its buildup of AI and cloud computing infrastructure. The master agreement covers up to 2.8 gigawatts of Bloom's fuel cell systems. An initial 1.2 gigawatts have been contracted, being under development at this point. The agreement is the latest in a trend that involves onsite generation as a critical component of modern digital infrastructures. In fact, Bloom announced that it recently delivered an operational fuel cell within just 55 days to Oracle, as such achievements arguably were key in obtaining this much larger contract. The company furthermore issued warrants to Oracle at terms agreed upon beforehand. Oracle has warrants to buy over 3.5 million shares at $113 and change, with these warrants about $400 million in the money here. Shares of Bloom Energy have rocketed higher by around a quarter, with shares hitting a new high at $220, for a $62 billion market valuation, as shares have increased by more than a factor of 10 times in less than a year. Incredible Momentum Early in February, Bloom reported strong 2025 results, a year in which revenues rose so...
BrendanHunter/iStock Unreleased via Getty Images Thesis The title of this article was clearly a play on a famous Star Wars quote by Jedi Master Yoda. The small but mighty warrior didn’t let his small stature stop him from achieving greatness. So how exactly does this relate to investing? Small companies are able to achieve unparalleled growth rates due to the small size of their existing operation...
BrendanHunter/iStock Unreleased via Getty Images Thesis The title of this article was clearly a play on a famous Star Wars quote by Jedi Master Yoda. The small but mighty warrior didn’t let his small stature stop him from achieving greatness. So how exactly does this relate to investing? Small companies are able to achieve unparalleled growth rates due to the small size of their existing operations. A bolt-on asset can result in significant growth on a percentage basis. In this case, we have Kolibri Global Energy Inc. ( KGEI ), who is likely the smallest oil and gas producer I have covered here on Seeking Alpha. The company operates in high oil content windows of the Anadarko region. The company targets shallower Caney intervals after selling the rights to the Woodford shale (a primary target in the region) to Exxon Mobil ( XOM ) several years ago. The Caney has the luxury of having significantly higher oil cuts than traditional Anadarko plays. However, the interval displays significant material variability and high clay contents that complicate completion designs. This creates a higher risk but higher reward situation with a producer that can easily increase production by double digits by adding one or two wells to its capital plan. The company has comfortably managed debt while building a multi-decade inventory. These characteristics are supportive of a Strong Buy rating. Who Is Kolibri Global Energy? KGEI is a microcap oil and gas producer that focuses on specific intervals of the Anadarko basin. Several years ago, the company sold its rights to the Woodford shale, the primary target of the day, to Exxon Mobil for $147m. The company kept the rights to what was then considered secondary targets in the Caney and Sycamore formations. These formations are shallower reservoir rock that has absorbed migrated oil from the source rock in the Woodford interval. The lower temperatures of these formations are ideal for oil, driving up the oil content compared to the Woodfor...
The world’s top 100 oil and gas companies made more than $30m every hour in unearned profit in the first month of the US-Israeli war in Iran, according to exclusive analysis for the Guardian. The conflict pushed the price of oil to an average of $100 a barrel in March, leading to estimated windfall war profits for the month of $23bn for the companies. Lucy Hough speaks to Damian Carrington, the Gu...
The world’s top 100 oil and gas companies made more than $30m every hour in unearned profit in the first month of the US-Israeli war in Iran, according to exclusive analysis for the Guardian. The conflict pushed the price of oil to an average of $100 a barrel in March, leading to estimated windfall war profits for the month of $23bn for the companies. Lucy Hough speaks to Damian Carrington, the Guardian’s environment editor Continue reading...
Morgan Stanley CEO Ted Pick says he thinks there will be volatility going forward, but it might not be the high levels of “charged” volatility seen so far this year. He speaks with Lisa Abramowicz on "Bloomberg Open Interest." (Source: Bloomberg)
Morgan Stanley CEO Ted Pick says he thinks there will be volatility going forward, but it might not be the high levels of “charged” volatility seen so far this year. He speaks with Lisa Abramowicz on "Bloomberg Open Interest." (Source: Bloomberg)