May ICE NY cocoa (CCK26 ) today is up +267 (+8.15%), and May ICE London cocoa #7 (CAK26 ) is up +159 (+6.49%). Cocoa prices are surging today and posted 1.75-month highs on hopes that the recent plunge in prices sparked a rebound in cocoa demand. Malaysia today reported that...
May ICE NY cocoa (CCK26 ) today is up +267 (+8.15%), and May ICE London cocoa #7 (CAK26 ) is up +159 (+6.49%). Cocoa prices are surging today and posted 1.75-month highs on hopes that the recent plunge in prices sparked a rebound in cocoa demand. Malaysia today reported that...
JHVEPhoto/iStock Editorial via Getty Images In one of my previous -year articles, I covered Rockwell Automation ( ROK ) with my "HOLD" thesis and rating. This turned out to be, at least for the shorter term until now, the wrong choice in terms of the company's performance. The thesis on the company is rather mixed. I don't believe any analyst is questioning the company's underlying quality and fun...
JHVEPhoto/iStock Editorial via Getty Images In one of my previous -year articles, I covered Rockwell Automation ( ROK ) with my "HOLD" thesis and rating. This turned out to be, at least for the shorter term until now, the wrong choice in terms of the company's performance. The thesis on the company is rather mixed. I don't believe any analyst is questioning the company's underlying quality and fundamentals - the question we pose is whether the valuation can possibly be justified for the company given the growth estimates and valuation multiple(s). Looking at the market, it's quite obvious to me that the market and investors overall are asking this question more frequently as of late. A very good indicator of this asking is the company's share price volatility, which over the past 6 years has increased quite a bit. In relatively short timeframes, the company has dropped, surged, and dropped back again. As I am writing this article, it's in a bit of a "surge" state. I will attempt to decipher the reasoning behind this for what, at this point, is an almost 36x P/E company with a yield of only 1.4% in an environment where we are getting over 4% risk-free. Why would the market premiumize this sort of higher-risk growth - or is the risk simply a lot lower than I believe? Analysts are quite split/torn when it comes to the business. We have an SA average analyst rating of "BUY," Wall Street at "BUY," and Quant at a "HOLD." Why Quant is on hold is, as I see it, based on the valuation of the company. And this, if you start doing even surface-level calculations, makes sense. There's no historical precedent for the company's current pricing, beyond a very short period in ZIRP, which immediately saw the company drop down to below 22x P/E. At any period below 2018, the company was trading between 12 and 17x P/E. Therefore, the current valuation represents a more than twice as high premium to the company's typical premium (or discount). Furthermore, Rockwell misses on estimates mo...
meshaphoto/iStock via Getty Images Painting with a finer brush Since COVID, market narratives seem to form more quickly and be applied more broadly. I suspect passive flows, real-time information, and momentum-driven strategies all contribute to this phenomenon, but the result is really what matters: once a narrative takes hold, it becomes the dominant lens through which everything is viewed. We'v...
meshaphoto/iStock via Getty Images Painting with a finer brush Since COVID, market narratives seem to form more quickly and be applied more broadly. I suspect passive flows, real-time information, and momentum-driven strategies all contribute to this phenomenon, but the result is really what matters: once a narrative takes hold, it becomes the dominant lens through which everything is viewed. We've seen this dynamic repeatedly. Tariffs will derail the economy. Regional banks are uninvestable. Commercial real estate is uninvestable. Each narrative arrives rapidly and with conviction, flattens important distinctions, and is soon replaced by the next. The details remain, but they matter less. Today feels similar. Markets are again painting with broad strokes, where narratives outweigh fundamentals. At Harris | Oakmark, our focus on issuer-level detail and our willingness to be patient help us see what broader narratives miss, and creates opportunity when prices diverge from fundamentals. Here are a few areas where our approach is creating opportunity. Software and commercial insurance AI is increasingly framed as an existential risk across entire sectors. In software, the market narrative has moved quickly from viewing businesses as durable and entrenched to treating the entire category as at risk of dying overnight. As my colleague Jeremy Thames highlighted in our recent commentary, Why We're Buying Software , this doomsday view has been applied broadly and makes little distinction between those companies with deeply embedded, mission-critical systems and those with more exposed application-layer risk. In reality, many of these businesses continue to exhibit the characteristics we have always valued: high switching costs, strong retention, pricing power, and deep integration within customer workflows. In many cases, AI may strengthen these systems rather than replace them. A similar dynamic is playing out in commercial insurance. High-quality brokers and insurers are ...
Canada’s bank regulator is examining lenders’ exposure to hedge funds and private-credit shops — as well as how they transfer risk to those firms — with further inquiries planned. In a yearly update on the top risks facing the financial system, the Office of the Superintendent of Financial Institutions said supervisory reviews on banks’ exposure to non-bank financial institutions are already under...
Canada’s bank regulator is examining lenders’ exposure to hedge funds and private-credit shops — as well as how they transfer risk to those firms — with further inquiries planned. In a yearly update on the top risks facing the financial system, the Office of the Superintendent of Financial Institutions said supervisory reviews on banks’ exposure to non-bank financial institutions are already underway. Canadian banks have “considerably” increased their exposure to private-capital managers and their portfolio companies in recent years, the regulator said Tuesday. The opaque and leveraged nature of private credit firms can mask structural weaknesses, as well as “intensify losses in a stress event,” OSFI said. It plans to ask Canadian banks for more information as questions arise from its reviews. After years of rapid growth, the once-niche world of private credit has faced increased scrutiny, with investors spooked by recent high-profile freezes on customer withdrawals. Concern about the impact of artificial intelligence on portfolio companies has raised valuation fears and the US Federal Reserve has asked major banks for details about their exposure to the sector, Bloomberg reported last week. Read More: Why Private Credit Is Facing a Sudden Investor Exodus: Explainer Wall Street banks, which are reporting first-quarter earnings this week, have so far disclosed at least $100 billion in exposure to private credit firms. Canadian firms have also begun intermittently including private-credit exposures in their quarterly filings. In February, for example, Royal Bank of Canada said “non-bank financial institutions and financing products” comprised 8% of its total loans and advances as of its first fiscal quarter, noting the portfolio was “of high credit quality.” OSFI hasn’t flagged non-bank lending as a key risk since 2023 , but included it again this year, saying its worries include that Canadian banks may engage in riskier lending to compete with private lenders. The re...
Versigent PLC ( VGNT ) traded higher on Tuesday after UBS started off coverage on the stock with a Buy rating. Analyst Joseph Spak said the firm's bullish view on the new company that was spun off from Aptiv ( APTV ) is centered on the current implied trading EV/EBITDA multiple being too low in comparison to other auto industry suppliers. "We see the stock re-rating as long as management commits t...
Versigent PLC ( VGNT ) traded higher on Tuesday after UBS started off coverage on the stock with a Buy rating. Analyst Joseph Spak said the firm's bullish view on the new company that was spun off from Aptiv ( APTV ) is centered on the current implied trading EV/EBITDA multiple being too low in comparison to other auto industry suppliers. "We see the stock re-rating as long as management commits to a consistent capital return program. We believe a potential buyback authorization and/or dividend initiation are likely positive catalysts, and we believe that ~50% of the current market cap could be returned to shareholders over the coming three years," highlighted Spak. UBS assigned a price target of $43 to Versigent ( VGNT ) based on a 4.5X multiple to the 2027 EV/EBITDA estimate. Shares of Versigent ( VGNT ) were up 5.9% in Tuesday afternoon trading to $32.33 vs. the post-spinoff range of $26.34 to $34.99. More on Versigent PLC Versigent begins trading after its spinoff from Aptiv Historical earnings data for Versigent PLC Financial information for Versigent PLC
The Trump administration will allow a waiver temporarily authorizing the purchase of certain Iranian crude oil to expire this weekend, according to a White House official. The move comes as the US imposes a blockade on traffic through the Strait of Hormuz after peace talks failed to yield a breakthrough. The waiver, which the Treasury Department published on March 20, is due to lapse on Sunday. Th...
The Trump administration will allow a waiver temporarily authorizing the purchase of certain Iranian crude oil to expire this weekend, according to a White House official. The move comes as the US imposes a blockade on traffic through the Strait of Hormuz after peace talks failed to yield a breakthrough. The waiver, which the Treasury Department published on March 20, is due to lapse on Sunday. That waiver was limited to Iranian oil and petrochemical products that were already loaded onto tankers. The administration already let lapse a similar waiver that authorized the purchases of some otherwise-sanctioned Russian crude. Reuters reported earlier on the decision. The US and Israeli war against Iran has set off a global energy shock and the administration has looked for ways to ease prices. But President Donald Trump ’s administration had come under criticism for relaxing sanctions on oil from Iran and Russia amid the conflicts in the Middle East and Ukraine. The White House official said the US is looking to deliver economic fury to Iran. Energy Secretary Chris Wright earlier Tuesday alluded to the possibility the US would pull other levers to tighten economic pressure on the regime in Tehran. While the blockade is one way “to bring this conflict to an end,” Wright said on Fox News, “there could be other sources of economic pressure as well.”
Appeals Court Terminates Criminal Contempt Proceedings Against Trump Admin Authored by Stacy Robinson via The Epoch Times (emphasis ours), An appeals court has put a stop to criminal contempt proceedings initiated by a district judge against the Trump administration. District Judge James Boasberg, chief judge of the District Court for the District of Columbia, stands for a portrait at E. Barrett P...
Appeals Court Terminates Criminal Contempt Proceedings Against Trump Admin Authored by Stacy Robinson via The Epoch Times (emphasis ours), An appeals court has put a stop to criminal contempt proceedings initiated by a district judge against the Trump administration. District Judge James Boasberg, chief judge of the District Court for the District of Columbia, stands for a portrait at E. Barrett Prettyman Federal Courthouse in Washington on March 16, 2023. Carolyn Van Houten/The Washington Post via AP In a brief, unsigned order on April 14, the Court of Appeals for the D.C. Circuit vacated a previous order by U.S. District Judge James Boasberg, and ordered him to terminate the contempt investigation he launched in December. The contempt proceedings stemmed from the deportation of illegal immigrants—suspected gang members—to El Salvador’s Terrorism Confinement Center, or CECOT, last year. Boasberg had ordered planes carrying those detainees halted and turned around, but the men were sent to El Salvador anyway. The Trump administration had appealed Boasberg’s order all the way to the Supreme Court, which overturned his ruling. Despite that, Boasberg tried to hold members of the administration in contempt of his order unless they returned the suspected gang members to the United States. The appeals court blocked that move by vacating Boasberg’s first contempt order, but he decided to move ahead with a contempt investigation in November. “Undeterred, the district court is proceeding with criminal contempt for the government’s decision to transfer the plaintiffs to the custody of El Salvador,” the Appeals Court’s Tyler Durden Tue, 04/14/2026 - 13:40
Rigetti Computing (NASDAQ:RGTI) stock has risen 81% over the past year at the time of writing, significantly outperforming IonQ (NYSE:IONQ) , whose shares are up 31%. This is despite IonQ scaling much faster over the past two years, generating substantially higher revenue. However, Rigetti’s recent launch of its new, more capable quantum computing system could be a catalyst for accelerating growth...
Rigetti Computing (NASDAQ:RGTI) stock has risen 81% over the past year at the time of writing, significantly outperforming IonQ (NYSE:IONQ) , whose shares are up 31%. This is despite IonQ scaling much faster over the past two years, generating substantially higher revenue. However, Rigetti’s recent launch of its new, more capable quantum computing system could be a catalyst for accelerating growth and narrowing the gap with IonQ over the next few years. Rigetti primarily builds quantum computers and the superconducting quantum processors that power them, integrating these machines into various public, private, or hybrid clouds through its centralized services. Continue reading
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we
LG’s B5 OLED TV isn’t as bright as higher-end models, but it still looks great. | Image: LG If you’re looking to get OLED picture quality without spending a couple thousand dollars, LG’s 48-inch B5 OLED TV is on sale for $599.99 ($700 off) at Best Buy , which is one of the best prices we’ve seen on the budget-friendly TV. You can also buy the 55-inch model from Amazon , Best Buy , and LG for $79...
LG’s B5 OLED TV isn’t as bright as higher-end models, but it still looks great. | Image: LG If you’re looking to get OLED picture quality without spending a couple thousand dollars, LG’s 48-inch B5 OLED TV is on sale for $599.99 ($700 off) at Best Buy , which is one of the best prices we’ve seen on the budget-friendly TV. You can also buy the 55-inch model from Amazon , Best Buy , and LG for $799.99 ($700 off), matching its all-time low price. LG B5 OLED TV Where to Buy: $1299.99 $599.99 at Best Buy (48-inch) $1499.99 $799.99 at Amazon (55-inch) $1499.99 $799.99 at Best Buy (55-inch) Our AV reviewer John Higgins was impressed with LG’s B5 OLED. It’s not as bright as higher-end models he’s tested, but the 4K TV still delivers a great-looking picture with accurate, realistic colors. You’re also getting all the features that characterize OLED TVs, like deep black levels, rich contrast, and excellent viewing angles. It doesn’t offer the higher refresh rate found on pricier LG models, but its 120Hz panel still keeps fast-moving scenes looking smooth and clear, whether you’re watching sports or gaming. Beyond picture quality, the B5 has a lot of other things going for it too. You get four HDMI 2.1 ports for connecting the latest gaming consoles, along with support for both Dolby Vision and Dolby Atmos. LG’s webOS platform also grants access to a wide range of streaming apps like Netflix, Hulu, Disney Plus, and more, while support for Amazon Alexa lets you control the TV with your voice. It also supports Apple AirPlay 2 and Google Cast, so you can easily stream from your phone or other devices.
Brazil will require foreign partners to process rare earth minerals domestically as a condition for access to its reserves, a senior government official said this week, setting terms that could reshape how Chinese and Western firms compete for resources the country has long exported raw. “Our doors of Brazil to foreign investment are open, but our position has matured,” Leonardo Durans, a senior o...
Brazil will require foreign partners to process rare earth minerals domestically as a condition for access to its reserves, a senior government official said this week, setting terms that could reshape how Chinese and Western firms compete for resources the country has long exported raw. “Our doors of Brazil to foreign investment are open, but our position has matured,” Leonardo Durans, a senior official at Brazil’s industry ministry, said at a press conference with international media on...