Which of these hot space stocks has a brighter future?

Key PointsSpaceX could be the largest IPO in history.

格隆汇4月14日｜加元升至近三周高位，美元兑加元USD/CAD跌至1.3971，日内下跌0.34%。

designer491/iStock via Getty Images Written by Nick Ackerman, co-produced by Stanford Chemist Eaton Vance Municipal Bond Fund ( EIM ) has been under recent pressure once again as long-term rates start to rise and short-term rates are expected to remain elevated. As a closed-end fund that invests in municipal bonds, it is highly sensitive to interest rates, and that is compounded by its leverage. Given the outlook was the expectation for further rate cuts from the Fed, with those on hold due to rising oil prices likely to keep inflation sticky even longer, that can continue to keep its borrowing costs elevated. However, some positive news is that the fund has also seen its discount widen since our last update. Given the added pressures on the fund, combined with that, it can make it a more interesting time to consider adding to this position than it was previously. EIM Basics 1-Year Z-score: 0.36 Discount/Premium: -6.70% Distribution Yield: 6.16% Expense Ratio: 1.17% Leverage: 30.66% Managed Assets: $787.28 million Structure: Perpetual EIM's investment objective is to “provide current income exempt from federal income tax.” They intend to achieve this through: ... at least 80% of the Fund’s net assets will be invested in municipal obligations, the interest on which is exempt from federal income tax, including the alternative minimum tax (“AMT”), and that are rated A or better by Moody’s Investors Service, Inc. (“Moody’s”), S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”). The foregoing 80% policy may not be changed without shareholder approval. Under normal market conditions, the Fund expects to be fully invested (at least 95% of its net assets) in accordance with its investment objective. The Fund may invest up to 20% of its net assets in municipal obligations rated BBB/Baa or below (or unrated obligations deemed by the Fund’s adviser, Eaton Vance Management (“Eaton Vance”), to be of equivalent quality), provided that not more than 15% of its net assets may be ...

Payroll processing major Automatic Data Processing (ADP) currently sits in a territory that value investors associate with long-term entry points.

Andrii Dodonov/iStock via Getty Images By Paul Robertson, Gavin Romm, CFA and Mark Gleason, CFA Investors shouldn’t overlook bonds as a key part of the tax management arsenal. Tax management is about more than just deferring taxes to reduce this year’s bite. It’s also about managing where and how taxes show up over time. For high-net-worth investors with diversified portfolios, permanently reducing taxes versus deferring them may bolster long-term after-tax wealth. Many investors overlook a potent tax reduction tool: bonds. The Mechanics of Tax-Loss Harvesting with Stocks With tax-loss harvesting, realizing a loss on one stock can offset a realized gain elsewhere, reducing the current year’s capital gains expense. Let’s say you previously bought 10 shares of ABC Corporation’s stock at $100 per share. Its cost basis is $1,000 (10 shares times $100). You sell the stock for $50 per share and reinvest the proceeds in a replacement stock; its cost basis would be $500 (the reinvested amount). Your portfolio’s cost basis drops by $500, but its market value has already fallen. This increases the net unrealized gain, so future turnover will likely create a bigger realized gain or a smaller realized loss. You didn’t eliminate taxes, but you did alter when and how you’ll pay them. Taxes Deferred Keep More After-Tax Dollars at Work But the “kicking the can down the road” strategy of tax deferral can be effective, even if that can is bigger later on. With a reduced tax burden this year, you keep more after-tax dollars at work in your portfolio. If you invest smartly, you have the potential to boost your after-tax wealth by more than enough to pay the bigger bill later. In truth, there’s really only one way to avoid having to pay more taxes in later years. That’s to never sell the replacement stock. If you die before selling it, the portfolio qualifies for a step-up in cost basis, eliminating the unrealized gain. But that “fix,” as we see it, restricts the ability of your investm...

Wind energy stocks continue to outperform the broader market as WTI crude oil prices remain elevated. The First Trust Global Wind Energy ETF (FAN) provides diversified exposure to wind energy, using mostly international stocks, and exhibits positive momentum in both absolute and relative terms. The ETF appears on the verge of another positive technical catalyst that we think will preserve its momentum. FAN has cyclical and secular uptrends in place supported by our long-term indicators. The monthly MACD reflects positive and growing long-term momentum as FAN approaches resistance from its 2021 high near $26.10. Long-term overbought conditions are in place as a function of strong momentum, and they are easier to sustain when breakouts occur. A measured move projection of ~$29.50 would be generated upon a breakout. FAN recently cleared its February high, which gives it a better chance of clearing the 2021 high over the coming weeks. Intermediate-term momentum is reaccelerating, and the weekly stochastics have a bullish 'pop' that supports a breakout. The relative trend versus the S & P 500 Index (SPX) is positive. Initial support for FAN is now defined by the February high near $24.60. CWEN makes up approximately 2% of the FAN ETF due to its wind energy offerings. CWEN is benefiting from the same macro tailwinds as FAN and shares a similar technical setup. After a pullback in February, CWEN rallied in March and is now approaching final resistance from its 2022 high near $41.80. If CWEN breaks out, it would generate a long-term measured move objective of roughly $48.30. Support is defined by recent peaks and troughs near $36.90. Relative to the SPX, CWEN has confirmed a long-term base breakout, with the ratio hitting a new eight-month high earlier in the month. The breakout marks a long-term bullish shift, suggesting CWEN will see additional outperformance versus the SPX over the next several months. Overall, the technical backdrop supports further outperformance from ...

格隆汇4月14日｜美国总统特朗普再次就教皇利奥十四世反对伊朗战争的立场予以抨击。当被问及在此前严厉批评教皇后，是否应向利奥十四世道歉时，特朗普表示：“不，我不需要，因为教皇利奥说了错误的话。他强烈反对我在伊朗问题上的行动，而你不能允许伊朗拥有核武器。”特朗普称，如果伊朗获得核能力，教皇将“不会对最终结果感到满意”，“你将看到数亿人死亡，而这种情况不会发生。”他还指责教皇在“犯罪和其他问题上非常软弱”。“没有什么需要道歉的。他错了，”特朗普称，“他不喜欢我们在伊朗问题上的做法，但伊朗想成为一个拥有核武的国家，这样他们就可以消灭世界。这不会发生。”

clovercity/iStock via Getty Images David Einhorn's Greenlight took new positions in Versant Media ( VSNT ), Crocs Inc. ( CROX ), and SLM Corp. ( SLM ) in Q1. Greenlight initiated a new medium-sized position in Versant ( VSNT ), which was recently spun off from Comcast and owns channels like MS Now, NBC and USA Network, according to Greenlight's Q1 letter viewed by Seeking Alpha. "While the legacy cable business faces ongoing cord-cutting, over 60% of its programming is tied to live news and events, which we believe is more resistant to subscriber losses than other entertainment categories," Greenlight wrote. Greenlight established its new small position in Crocs ( CROX ) at $83.49 a share and said concerns about a decline in U.S. sales last year were "overblown." The shoe company has directed most its free cash flow to buybacks and the hedge fund sees annual repurchase of over 10% outstanding shares going forward. As for its new small position in SLM, Greenlight sees "an opportunity for significant growth in graduate student lending as the federal government exits the market following provisions in the One Big Beautiful Bill Act." Greenlight exited its position in Kyndryl ( KD ) in Q1, as well as positions in Global Payments ( GPN ) and Warner Bros. Discovery ( WBD ), as the hedge fund believes the auction for the company has reached a resolution. The significant winners in the quarter were gold, Acadia Healthcare ( ACHC ), DHT Holdings ( DHT ) and Core Natural Resources ( CNR ). The biggest losers were SOFR futures, Kyndryl (KD( and Graphic Packaging ( GPK ). The Greenlight Capital funds returned 6.5% in Q1, net of fees and expenses, compared to -4.4% for the S&P 500 index. Shares of Crox rose 1.6%, SLM gained 1.7% and Versant ticked higher by 0.8%. More on Versant Media Group, Inc., Crocs, etc. Crocs: Don't Expect Growth - Rich Cash Flows Meet Resilience What Versant's StockStory Deal Says About Life Beyond Pay-TV Crocs, Inc.: Mispriced, Strong Cash Flow, Smart Bu...

Meta Platforms recently unveiled a new artificial intelligence (AI) model that is efficient and performs well when compared to other chatbots.

Will Meta Platforms' New Artificial Intelligence (AI) Model Spark a Rally? Yahoo Finance

A reported leaked memo from OpenAI’s revenue chief signals a deepening rift with Microsoft, as the ChatGPT creator deepens its relationship with Amazon.

Key PointsMuse Spark is Meta's new artificial intelligence (AI) model, which the company says is both efficient and competitive.

Key PointsNetflix has a global reach with availability in 190 countries around the world.

Source: Bloomberg, 5:17

The military approach has backfired, with Iran’s position only strengthened. But the door is still open to a deal Donald Trump was quick to declare victory over Iran, but this weekend’s negotiations suggest that Tehran has the upper hand. His war of choice has backfired. His military solution has emboldened rather than weakened Iran. Diplomacy is his only reasonable option. Trump may have hoped that the marathon 16 -hour talks in Pakistan would extract him from his self-created quagmire, but the issues that have long divided Washington and Tehran are complex. When it turned out that Iran wanted to negotiate rather than capitulate , JD Vance, who led the US diplomatic team, packed his bags and went home. Kenneth Roth is a Guardian US columnist, visiting professor at Princeton’s School of Public and International Affairs, and former executive director of Human Rights Watch. He is the author of Righting Wrongs: Three Decades on the Front Lines Battling Abusive Governments Continue reading...

Source: Bloomberg, 43:58

周一（4月13日），美联储隔夜逆回购协议（RRP）使用规模为2.27亿美元（交易对手4家），上个交易日报5.07亿美元。

Farage and sidekick are still sore about how the Tories handled Brexit, although new mates Braverman and Jenrick are forgiven The Reform UK press conference began a little behind schedule. Time in which Nigel Farage had gathered Zia Yusuf and a few others into a circle for a two-minute silence. A moment to reflect on the sad news from Hungary that Viktor Orbán’s 16 years as prime minister had come to a premature end. Orbán had had so much more to give the world. There would be no one left in the EU to block the €90bn loan to Ukraine. Will there be no one to think of Russia’s brave struggles against the west? It was a tragedy. The end of an era. Nige would now have to go it alone. There’s a law of diminishing returns to these Reform press conferences. We now get two or three of them a week, each one promising to be of national importance. The reality is that they are no more than a chance for Farage to indulge his narcissism and get himself on camera once more. It’s the only time he feels truly alive. But the audiences are dwindling. They are no longer “must-screen” events for the main news channels. Reform’s idea of importance is the broadcasters’ idea of eminently missable. You can see the desperation in Nige’s eyes. He is in danger of becoming last year’s news. Continue reading...

Oil prices don’t yet reflect the severity of the unprecedented supply crisis caused by the Iran war, but they soon will, the head of the International Energy Agency said. About 13 million barrels a day of oil supply have been shuttered by the conflict and the near-closure of the Strait of Hormuz, IEA Executive Director Fatih Birol said at an event hosted by the Atlantic Council. More than 80 energy facilities have been damaged during the hostilities, and a recovery could take as long as two years, he warned. The Paris-based agency has already described the current supply disruption as the biggest in history . “Prices are already high, but they are not reflecting the severity of the problem — I agree there is a disconnect,” Birol said. “But I think soon we will see they will converge, which is an extremely sensitive issue for the global economy.” Oil futures are trading near $100 a barrel in London, which marks a rally of roughly 64% since the start of the year but is still considerably below the levels reached after Russia’s 2022 invasion of Ukraine, or the records set in 2008. Last month, IEA members such as the US, Japan and Germany agreed an unprecedented release of emergency oil stockpiles to help calm markets.

Intel's Nova Lake CPUs gear up to seize AMD’s 3D V-Cache gaming throne — early leak points to up to 52 cores, blazing DDR5-8000 support, and massive 175W TDP Tom's Hardware

Trump may have finally lost Asia to China over the Iran war. Bloomberg Opinion columnist Mihir Sharma explains. (Source: Bloomberg)

kodda/iStock via Getty Images ONEOK ( OKE ) said late Friday it is currently shipping fuel from Oklahoma to Texas via a segment of its Magellan pipeline, reversing flows that typically carry product northbound to Oklahoma from Texas. The move comes as the U.S. Gulf Coast has seen fuel inventories dwindle amid a surge in export demand to offset global shortages from the Middle East war. Jet fuel exports were higher for a fifth straight week, reaching 442K bbl/day, the highest number on record, according to the U.S. Energy Information Administration's latest weekly report. "We work closely with our customers to transport supply to key markets, including the Gulf Coast, while monitoring market developments and making adjustments as needed," a ONEOK ( OKE ) spokesperson said. More on ONEOK ONEOK: This Dip Looks Like A Buying Opportunity ONEOK: Bullish Setup Remains Despite Slower Near-Term Growth ONEOK: Easy Money Made, Still A Long-Term Buy Now

After a social media pressure campaign and over a million kilometers of safe driving on European roads, Tesla FSD (Supervised) finally has its foot in the door in the EU, with the Netherlands approving its use on highways and city streets. The approval paves the way for Tesla's ultimate goal of ...

SaaSpocalypse. Credit defaults. The war in Iran. A lot of worries are hitting the $1.8 trillion private credit market at the same time, setting off a scramble by some investors to withdraw money from the industry’s giants. In recent weeks, funds managed by firms such as Apollo Global Management Inc. , BlackRock Inc. and Ares Management Corp. have faced unprecedented requests for redemptions — and, in many cases, have exercised their right to block investors from getting all their money out. Here’s a guide to what’s happening in the private credit market and why it’s rattling nerves on Wall Street. What is private credit? “Private credit” doesn’t have one set definition. It’s an umbrella term referring to a handful of debt investment strategies. It’s “private” because unlike traded forms of debt, where banks are typically involved in arranging the transactions, the details are often invisible to anyone not connected to the deals. Most of the funds facing redemption requests are actually in a subset of private credit known as direct lending, where investment firms lend money to riskier, typically privately owned companies. Investors are attracted to these deals because they offer high yields, in exchange for taking on more risk. Why are we hearing so much lately about private credit? Jitters first began in the latter half of 2025. Big blowups at privately owned companies First Brands Group and Tricolor Holdings , while only tangentially related to private credit, spooked investors in general about the credit sector and what other problems could be lurking beneath the surface. Read more: A Guide to the Fault Lines in the Credit Market Meanwhile private credit’s outsize exposure to software companies, which up until recently had been considered a relatively safe and lucrative bet, also began to cause concern. Investors are worried that these businesses will lose revenue as customers turn to cheaper AI-based services. While there is little sign of that happening so far, ...

In this article .SPX Follow your favorite stocks CREATE FREE ACCOUNT A sign is posted on the exterior of a BlackRock office on Jan. 15, 2026 in San Francisco, California. Justin Sullivan | Getty Images Asset management giant BlackRock raised its outlook for U.S. stocks, reasoning that contained impacts from the Iran war and strong corporate earnings will create a favorable backdrop for domestic equities. The firm, which manages $14 trillion for clients, said in its weekly market note that it raised the rating a notch to overweight from neutral. Developments in the war had made BlackRock cautious on domestic stocks. But it said prospects for a lasting ceasefire now have strategists believing that the impacts won't be major. "We saw two signposts that would lead us to re-up risk after reducing it a few weeks ago. First, tangible evidence of actions that would reopen flows through the Strait of Hormuz. And second, visibility on the lingering macro impact being contained," the firm said. "This comes as expectations for corporate earnings have climbed for both the U.S. and [emerging markets] for 2026 – even since the conflict began on Feb. 28." Moreover, the strategists said "the threshold for the U.S. and Iran to go back to war is high," further limiting potential damage. At the same time, prospects for corporate profits appear bright. With earnings season just getting underway, S&P 500 companies are expected to post a collective 12.6% profit increase in the first quarter, according to FactSet. If historical beat rates hold, that would rise to 19%, the forecasting firm said. Moreover, technology profits are expected to grow 45% this year, yet the sector has seen only a marginal gain this year. BlackRock said that has put valuation of information technology against the other 10 sectors at its lowest since mid-2020. "We re-up risk in the U.S. and EM due to strong corporate earnings expectations and limited accrued damage to global growth," the strategists said. "We focus ...

Editor's note: Seeking Alpha is proud to welcome Shailja Sharma as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. Click here to find out more » jetcityimage/iStock Editorial via Getty Images Introduction The wall street currently viewing Crocs, Inc. ( CROX ) like a failing business. Investors castigate the stock heavily because sales at HeyDude keep dropping. However, focusing only on weak spot misses the bigger picture and highly profitable reality that Crocs is a cash making machine trading at a high discount. My Strong buy thesis is straightforward: The main driver for the stock over the next 12-24 months would not be explosive revenue growth but a rapid debt reduction. Based on a forward Free Cash Flow (FCF) yield of over 12%, management is rapidly paying back their $1.23 billion in net debt . They plan on a 1.0x net debt to EBITDA ratio by the end of 2026. As the debt lower, hundreds of millions of dollars are redirected into buying back up to $750 million of their stock. When you combine this aggressive buyback potential with projected positive 23% operating margins, CROX's current valuation of just 5.7x EV/EBITDA is fundamentally mispriced compared to peers like Deckers and Nike. To truly understand the Crocs discount, we must look at the competitive scene. The market is pricing Crocs as a "here today, gone tomorrow," while giving high end valuations to its competitors like Deckers (parent of HOKA and UGG). Deckers commands a 20x Forward P/E because it is viewed as a high-growth, premium athletic brand. Crocs is viewed as a periodic trend. However, a qualitative look at Crocs' growth drivers deconstruct this "short lived trend" narrative. First, Crocs has successfully monetized personalization through its "Jibbitz". These small accessories cost cents to make but sell for dollars which means high margins,...

Oracle Rockets 11% Higher as AI Utility Tools and Technical Buying Collide in Heavy Trading 24/7 Wall St.

Oracle (NYSE:ORCL) shares are spiking 11% higher on Monday, moving from $138.09 to $153 in heavy trading. The move comes after a brutal stretch for ORCL stock, which entered today down 28% year to date, making the size of Monday’s gain all the more striking. The rally reflects a market that’s been waiting for a ... Oracle Rockets 11% Higher as AI Utility Tools and Technical Buying Collide in Heavy Trading

格隆汇4月14日｜乌克兰央行行长：我们希望阻碍欧盟向乌克兰提供贷款的障碍能够被消除，并鼓励各伙伴不要再拖延。