Since the start of May, Fortinet (NASDAQ: FTNT) has rallied by roughly 74% as its cybersecurity software has been attracting new customers, and momentum has been building for its recurring revenue model. Meanwhile, there are major catalysts in play for the whole cybersecurity industry that give Fortinet meaningful tailwinds. Grand View Research projects a healthy 11.9% compound annual growth rate ...
Since the start of May, Fortinet (NASDAQ: FTNT) has rallied by roughly 74% as its cybersecurity software has been attracting new customers, and momentum has been building for its recurring revenue model. Meanwhile, there are major catalysts in play for the whole cybersecurity industry that give Fortinet meaningful tailwinds. Grand View Research projects a healthy 11.9% compound annual growth rate for the cybersecurity industry through 2033 -- but the opportunities ahead suggest the industry could blow past that projection. In the realm of cybersecurity, the "attack surface" for an organization is simply the sum total of all the points where a hacker might attempt to gain access to its systems and data, from a laptop to a server to an unsuspecting employee falling for a phishing email. And in its first-quarter presentation, Fortinet management pointed to the expansion of attack surfaces as a "strong, long-term secular tailwind." Artificial intelligence (AI) was listed as one of the factors that is increasing the size of the attack surface for its clients. Continue reading
SpaceX is the most anticipated IPO in a long time -- possibly ever. If the company successfully raises $75 billion at a $1.77 trillion valuation, as it's expected to do, it would be several times larger than the previous "largest IPO" record holder. One of the most common reasons I've seen for investors not planning to buy shares in the IPO is valuation. And it's certainly easy to see why. SpaceX ...
SpaceX is the most anticipated IPO in a long time -- possibly ever. If the company successfully raises $75 billion at a $1.77 trillion valuation, as it's expected to do, it would be several times larger than the previous "largest IPO" record holder. One of the most common reasons I've seen for investors not planning to buy shares in the IPO is valuation. And it's certainly easy to see why. SpaceX generated $18.7 billion in revenue in 2025, which means that at the targeted valuation, the stock would be priced at about 95 times sales at the IPO price. This is for an unprofitable company whose revenue, quite honestly, did not grow particularly fast last year -- at least not fast enough to justify such a rich valuation. Image source: The Motley Fool. Continue reading
ZenSaBi/E+ via Getty Images Retail investors are the "biggest sponsor" of the market currently and are continuing to buy, according to Tony Pasquariello, head of hedge fund coverage at Goldman Sachs. Weekly fund flows, including levered ETFs, and single stocks indicate continued appetite, with one third party arguing that "recent activity rivals the bonanza of early 2021," Pasquariello wrote. He s...
ZenSaBi/E+ via Getty Images Retail investors are the "biggest sponsor" of the market currently and are continuing to buy, according to Tony Pasquariello, head of hedge fund coverage at Goldman Sachs. Weekly fund flows, including levered ETFs, and single stocks indicate continued appetite, with one third party arguing that "recent activity rivals the bonanza of early 2021," Pasquariello wrote. He said he doesn't think the tachometer is fully in the red yet, but "households have added to their plate." The difference between now and 2021 is that "most of the capital today is flowing into the most profitable companies in the world, not meme stocks." Hedge funds still have a large exposure to stocks, and until last Friday's plunge, hadn't shown much interest in downside protection, he added. And while a load of news issues are arriving to market, "our buyback activity is running around 2x the standard pace of recent years." "I’m not saying the net balance isn’t shifting -- I’m simply saying that company demand should continue to outweigh supply this year." ETFs: ( DIA ), ( DDM ), ( UDOW ), ( DOG ), ( DXD ), ( SDOW ), ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( QQQ ), ( QLD ), ( TQQQ ), ( QID ), ( SQQQ ) More on SPDR S&P 500 ETF Trust SPX 500 Weak Market Breadth And Fed Rate Hike Fears Signal Further Downside Risk The 'Herd' Panicked, But... Downside Risks Rise As Tech Volatility Spikes Think this rally felt unusually fast? You're right Prediction markets see low odds of Hormuz traffic returning to normal this year
Economic inequality and an economy with disparate K-shaped benefits is leading to opposite outlooks for Lennar and Toll Brothers, according to Keefe, Bruyette & Woods. The bank downgraded Lennar to underperform from market perform, while upgrading Toll Brothers to outperform from the same previous rating. KBW has an $86 price target on Lennar, which represents a 5% loss from Monday's close. Its $1...
Economic inequality and an economy with disparate K-shaped benefits is leading to opposite outlooks for Lennar and Toll Brothers, according to Keefe, Bruyette & Woods. The bank downgraded Lennar to underperform from market perform, while upgrading Toll Brothers to outperform from the same previous rating. KBW has an $86 price target on Lennar, which represents a 5% loss from Monday's close. Its $161 price target on Toll Brothers indicates a 17% gain from Monday's close. Analyst Jade Rahmani said in a Monday note that entry-level homebuilders like Lennar are facing pressures as lower-income consumers continue to struggle with the high cost of housing and other goods and services. LEN YTD mountain Lennar year-to-date. "The current backdrop remains difficult: weak consumer confidence, uncertain job market, and high mortgage rates, which will force builders to maintain elevated incentives (sub-4% buydowns in certain markets) while inflationary pressures could limit margin relief," Rhamani wrote. "In this environment, the recovery is bifurcating with affluent consumers outperforming low/middle-market cohorts… We estimate LEN's entry-level mix is around 50%." Compare that to Rahamani's forecasts for Toll Brothers. He sees 6% to 8% order growth in his 2026 to 2027 model projections and thinks gross margins will likely be stable. "TOL's affluent positioning... insulates it from entry-level softness, with a buyer base of high FICO scores, large downpayments, and meaningful cash-buyers, plus substantial lot premiums/option upgrades per home," Rhamani wrote. In 2026, shares of Toll Brothers are up just under 1.5%, but Lennar's stock is down almost 12%. Toll Brothers rose 1.7% in premarket trading while Lennar fell 0.3%. TOL YTD mountain Toll Brothers year-to-date.
Everspin Technologies ( MRAM ) stock price increased about 3% on Tuesday during pre-market trade as the company announced its inclusion in the Russell 2000 Index as part of the annual reconstitution. This inclusion was effective at the opening of U.S. equity markets on Monday, July 1, 2024. “Everspin’s expected inclusion in the Russell 2000 Index reflects the progress we have made advancing MRAM a...
Everspin Technologies ( MRAM ) stock price increased about 3% on Tuesday during pre-market trade as the company announced its inclusion in the Russell 2000 Index as part of the annual reconstitution. This inclusion was effective at the opening of U.S. equity markets on Monday, July 1, 2024. “Everspin’s expected inclusion in the Russell 2000 Index reflects the progress we have made advancing MRAM adoption across markets where data persistence, endurance, and reliability are critical,” said Sanjeev Aggarwal , CEO, and President. More on Everspin Technologies Everspin Technologies: When Memory Upgrades To Strategic Infrastructure Everspin Technologies, Inc. (MRAM) Q1 2026 Earnings Call Transcript Everspin Technologies: A Little Expensive For What It Is Everspin forecasts $15.5M-$16.5M Q2 revenue as it signs 2.5-year $40M subcontract Everspin Technologies Non-GAAP EPS of $0.11 beats by $0.02, revenue of $14.87M beats by $0.27M
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first It was total “Jensanity” at Computex in Taipei last week as the Nvidia boss showed up at Asia’s largest tech expo and generated headlines with stunts like writing “Jense...
Welcome to Bloomberg’s AI Today newsletter. Every weekday we’ll break down artificial intelligence’s threats and opportunities for businesses, workers, finance and economies. Sign up now if you’re not already on the list. Up first It was total “Jensanity” at Computex in Taipei last week as the Nvidia boss showed up at Asia’s largest tech expo and generated headlines with stunts like writing “Jensen was here” in the washroom. Alongside the larks and announcements about next-generational hardware, Jensen Huang may have set the tone for future US-China tech geopolitics. He announced that Nvidia is partnering with Chinese company Unitree Robotics for the chipmaker’s first robotics system, combining a six-foot Unitree droid with Nvidia hardware and software. At home, Nvidia is navigating a chip export control minefield , blocked from shipping the bulk of its advanced semiconductors to China, though that doesn’t include the robotics tech for the Unitree deal. In Taipei, Huang anchored the company’s flagship robotics tech to a Chinese manufacturer — just as the world gets more obsessed with robots . As investors seek the next evolution of artificial intelligence, China is pushing forward in robotics , with companies in the country including Unitree, Lejo Robotics and Deep Robotics all moving towards IPOs. The US has more startups in the sector — and finding it needs Chinese manufacturing prowess to try and produce humanoid robots, the holy grail of so-called physical AI. As Washington and Beijing battle over semiconductors and AI models, the frontier of robotics may prove the one field that’s strategically vital to both — and too technically demanding for either side to pursue in isolation. Join the conversation today : Apple’s WWDC offers a glimpse into its big AI comeback attempt and the new Siri. Mark Gurman answers your questions in a Live Q&A conversation with Edward Ludlow starting at 1 p.m. EDT. Join the livestream and send your questions in advance to liveqa@bloomb...
JPMorgan Chase (NYSE: JPM) is a driving force of the broader economy. And the gigantic bank has been a huge winner thanks to strong fundamental performance. During the past decade, its shares have generated a total return of 527% (as of June 8). That gain comes up well ahead of smaller rival Bank of America (NYSE: BAC) , whose shares delivered a total return of 369% during the same time. From the ...
JPMorgan Chase (NYSE: JPM) is a driving force of the broader economy. And the gigantic bank has been a huge winner thanks to strong fundamental performance. During the past decade, its shares have generated a total return of 527% (as of June 8). That gain comes up well ahead of smaller rival Bank of America (NYSE: BAC) , whose shares delivered a total return of 369% during the same time. From the market's perspective, investors might struggle to find differences between these two companies. After all, they each have a meaningful presence in different areas of the financial services sector. But JPMorgan Chase trades at a price-to-book (P/B) ratio of 2.4, representing a sizable 71% premium to Bank of America's 1.4 multiple. What's causing this large valuation gap? And does it tell us anything about the investment implications of these two financial stocks ? Continue reading
Since Lockdowns, A 12% GDP Loss; Half Of US Dollar Purchasing Power Stolen Authored by Jeffrey Tucker via The Brownstone Institute, Many of us have had the intuition that the economic damage from 2020 – including industrial stoppages, monetary printing, supply-chain disruptions, extended school closures, and general population demoralization – was in fact far greater than official statistics indic...
Since Lockdowns, A 12% GDP Loss; Half Of US Dollar Purchasing Power Stolen Authored by Jeffrey Tucker via The Brownstone Institute, Many of us have had the intuition that the economic damage from 2020 – including industrial stoppages, monetary printing, supply-chain disruptions, extended school closures, and general population demoralization – was in fact far greater than official statistics indicate. What follows will shore up this intuition, using new techniques and numbers from an innovative project called RealityIndex.co . It’s true that official data is bad enough, showing a 26% loss in purchasing power, slow growth in output, and only marginal improvements in real income. The labor participation rate and worker/population ratio never fully recovered and continue to fall. Output has been lackluster. It’s supposedly running 2.3% which is about half the postwar norm for US economic performance. It feels like a general downshift. Official data shows a brief recession in 2020 followed by gradual economic recovery overall. But is this even true? In 2024, Brownstone Institute commissioned a study (by E.J. Antoni and Peter St. Onge) that concluded that we have never really entered recovery after 2022. We’ve been in a technical recession since that time. They got this with some limited adjustments of price data bumped up against output data. That study was met with brutal attacks, with every critic falling back on official data and doubting the supposed extremism of the conclusion. That’s where matters have stood even as reports pour in concerning broken labor markets, no raises for 1 in 4 professional-class workers, and sketchy Gross Domestic Product (GDP) data that seems barely above zero thanks mainly to medical-sector subsidies, government spending, and social services. Then there are the learning losses showing dramatic declines in test scores among affected students. We are left with real questions. How can consumer sentiment be at historic lows given that the ov...
Nikolai Mentuk KBR ( KBR ) announced that its Mission Technology Solutions business has been awarded a $95M Digital Engineering and Enterprise Decision Support (DEEDS) contract by the U.S. Space Force. The five-year, single-award cost-plus-fixed-fee contract is designed to rapidly advance digital engineering capabilities, space systems development, and space warfighting technologies. Operations wi...
Nikolai Mentuk KBR ( KBR ) announced that its Mission Technology Solutions business has been awarded a $95M Digital Engineering and Enterprise Decision Support (DEEDS) contract by the U.S. Space Force. The five-year, single-award cost-plus-fixed-fee contract is designed to rapidly advance digital engineering capabilities, space systems development, and space warfighting technologies. Operations will be performed at Kirtland Air Force Base in New Mexico, directly supporting Space Force missions within the Air Force Research Laboratory’s Space Warfare Directorate. KBR will leverage Model-Based Systems Engineering (MBSE) alongside advanced Modeling and Simulation ((M&S)) to accelerate the transition of next-generation space capabilities from pure concept to active operational deployment. "By integrating advanced software, systems engineering, modeling and simulation and operations research, we help our customers field critical space capabilities faster and with greater confidence ," said Jay Lennon , Senior Vice President of Mission Technology Solutions. The contract strengthens KBR’s decade-long positioning as a high-priority national security partner for defense and space missions. More on KBR, Inc KBR, Inc. (KBR) Q1 2026 Earnings Call Transcript KBR, Inc. 2026 Q1 - Results - Earnings Call Presentation KBR: Low Valuation And Healthy Long-Term Drivers Make It A Buy KBR awarded $8B Antarctic research support contract from NSF KBR targets January 4, 2027 Mission Tech spin while reaffirming 2026 guidance