The Technology Solution to the Power Grid's Battle With Climate Change csrwire.com

Kira-Yan/iStock Editorial via Getty Images Meta: Deep Into A Bear Market, But Justified? The bear market in the stocks of Meta Platforms, Inc. ( META ) is simply getting from bad to worse. Down almost 35% from the 2025 highs, I wouldn't blame you if you're starting to question whether this recovery will even pan out, because it seems like Meta management is not deterred. In fact, despite reportedly facing challenges on its upcoming launch of its most updated and advanced AI model (Avocado) , the company has doubled down on several deals recently, ranging from securing more AI compute capacity, to striking AI chip partnerships with AMD ( AMD ) and Arm ( ARM ). If anything, I think Meta is demonstrating just how ambitious and confident it is on its AI roadmap, and wouldn't be cajoled into giving up on its multi-year journey right now, just as its archrivals have also ramped up their pressure, including Microsoft ( MSFT ), as the software leader has also reorganized its ranks to focus on better consumer and commercial integration, while also concentrating on achieving superintelligence. In other words, I think Meta can no longer hide behind the promises of being in the leadership position of attaining superintelligence ahead of others, particularly as it faces more snags on its next gen AI models. We will have to wait until May before we can assess and get our hands dirty on what management has in store for us while comparing its advances and developments to those of the AI labs. Even OpenAI ( OPENAI ) is facing tremendous pressure right now, as Anthropic ( ANTHRO ) has proven more than an even match against the Sam Altman-led company. Anthropic has arguably earned the trust and confidence of the AI industry, as it continues to launch industry leading, and cutting edge AI coding tools, as the market relishes the power and productivity boosts from the agentic capabilities driven by its AI models. Meta's AI Ambitions Not Given Enough Respect Yet Whereas for Meta, I guess...

Meta: I'm More Than Willing To Catch The Falling Knife Now (NASDAQ:META) seekingalpha.com

Meta: I'm More Than Willing To Catch The Falling Knife Now (NASDAQ:META) Seeking Alpha

Skytech Gaming O11 Vision PC with AMD Ryzen 7 7800X3D drops to $1699.99 Technobezz

格隆汇3月28日｜以色列国防军当地时间28日下午监测到伊朗向以色列发射新一轮导弹。以色列中部、南部多地响起防空警报。此外，在耶路撒冷上空可以看到以军对导弹进行拦截。

在《咸的玩笑》扉页，刘震云献词曰：世界各地，街上走着的每个人，内心都有伤痕，大家都辛苦了。作为善于对人际关系和社会现实条分缕析的大师，刘老师也辛苦了 从《一地鸡毛》到《一句顶一万句》再到《一日三秋》，从《我叫刘跃进》到《我不是潘金莲》，从史诗般的《温故一九四二》到新近出版的热销小说《咸的玩笑》，35年过去了，刘震云写了数不胜数的小人物，很多还被改编成了影视剧，为更广大的中国老百姓所熟知。 这些小人物大都有一个共同点：生于社会底层，命如蝼蚁浮萍，屡遭生活鞭挞，常遇社会不公，一生颠沛流离，总被命运捉弄，苦得坠入深渊，却能顽强生存。往小了说，这是河南人的缩影，往大了说，这是中国人的缩影。只要你关注中国的历史和现实，就知道光鲜亮丽的大人物永远是极少数，活着的绝大多数都是这样苦命的小人物。

Micron Technology (MU) Is Down 15.5% After TurboQuant AI Demand Jitters Challenge Blockbuster Quarter simplywall.st

jgroup/iStock via Getty Images U.S. presidents like strong economic growth and a rising stock market. Especially during election years. Back in January, I wrote an article titled " Investing In A Midterm Election Year ," in which I discussed how the second year of a president's term is historically the weakest for the stock market. The reasons for that are surely too complex and multicausal for my simple brain to understand, but history has repeated or "rhymed" often enough to produce a pattern. Even so, presidents exhibit the most willingness to improve market conditions (and therefore voter vibes) during election years. I think that establishes a backstop for how low the market can drop (short of some black swan event) before the president acts decisively to stop the pain. In fact, I think that is already happening with Iran negotiations. So, while the odds of a near-future recession have risen, as I discussed in last week's article , I ultimately view the current dip as a buyable one -- selectively, at least. Here's the agenda for this week: How the market is sending a clear signal to Trump to end the war in Iran and get the Strait of Hormuz reopened -- a signal that Trump seems to have received. Some signs that the US economy will likely weaken and consumer inflation slightly increase this year. Four charts that show how technology stocks have become very attractive relative to their growth prospects. Some comments on my buy list, including a few charts about private credit that you'll want to see. Onward! Market Says: "End The War" It was only a few days after President Trump threatened to destroy Iran's power grid he suddenly claimed (contrary to the assertion of the Iranians) that productive negotiations were underway. It appears most likely to me that it wasn't a breakthrough in talks (if any were being held at the time) or military development that triggered this shift. It was a combination of market factors, including and especially stock and Treasury bond...

Trevor Williams/DigitalVision via Getty Images Market Summary: Same Song, Different Verse U.S. equity markets ended 2025 by notching three straight years of double-digit gains, a feat last seen in the late 1990s. On trend with recent history, strong corporate profits and AI momentum powered through a softening labor market and noisy inflation signals. Positive benchmark returns were again attributable to relatively few companies, concentrated in mega-cap platforms and AI infrastructure beneficiaries, with modest index gains masking sharp reversals in momentum factors and retail-favorite stock baskets. Fund Performance The Virtus Zevenbergen Innovative Growth Stock Fund returned -2.74% (Class I) in the quarter, trailing the Russell 3000® Growth Index's 1.14% return. Unfavorable positioning in industrials (public safety) and consumer discretionary (e-commerce, cosmetics) was offset slightly by positive contributions in healthcare (diagnostics) and industrials (space technology). Exact Sciences and Natera ( NTRA ) were the largest contributors to performance in the quarter. Exact Sciences journey found a rewarding final chapter as Abbott Laboratories announced plans to acquire the molecular diagnostics company in an all-cash transaction valued at $105 per share, representing roughly $21 billion in equity value. Announced on November 20, 2025, the deal is expected to close in the second quarter of 2026, pending customary approvals. For ZCI, the acquisition marks a gratifying conclusion to a long-term investment in a business that reshaped noninvasive cancer screening with Cologuard and built a category-defining precision oncology franchise. The premium takeout reflects the enduring value Exact Sciences created over many years and validates the company's impact on early cancer detection and personalized care. Healthcare diagnostics leader Natera delivered another standout quarter, with record clinical Signatera volumes, broad-based strength across its women's health and ...

天风证券发布研报称，对比2021年看，当前风电指数仍处于相对低位，较上一波风电板块高点（2021年）仍下跌29%。2021年风电行情主要受需求驱动（招标高增），而展望2026年，供给和需求均有明显改善，国内风电有望进入新一轮上行周期，但指数仍处于相对底部，有较大预期差。 供给：格局明显优化。风机持续涨价&行业扩产整体放缓，陆风大型化放缓，技术定型后利润开始释放，利润体量有望超21年水平； 需求：有望进入新一轮上行周期。2025年招标装机规模创历史新高，2025年风机招标规模好于预期，展望2026年，国内陆风需求装机预期差大，国内海风开工招标加速，同时本轮新增风电出海，盈利明显好于国内。 和2021行情相比的增量一：风电行业逻辑发生重要变化，电力市场化加速下风电出力曲线的价值逐步显现（同用电负荷曲线的高度拟合），风电电价相较光伏优势拉大，十四五风电新增装机在风光总的新增装机中占比27%，预计十五五期间风电装机占比有望达50%+； 和2021行情相比的增量二：十五五风电出海迎来新机遇。1）从需求端看，海外亚非拉陆风和欧洲海风需求高增，且欧洲数据中心电力需求高增下，欧洲海风&电力互联需求明显受益；2）从供给端看，海外本地产能不足，供需缺口大，海外风电设备盈利明显好于国内。 投资建议：看好26年风电板块业绩&估值双驱动，迎来板块性机会。1）业绩层面，前期市场担忧历史上板块没有兑现过，但2025年风电龙头盈利已率先修复，近期业绩预告密集落地，展望26全年或将迎来板块性业绩；2）估值层面，除了国内风电需求好于预期，中长期风电需求被低估，再次强调当前欧洲链和电力互联的预期差，尤其欧洲数据中心建设进一步强化海风和电力互联需求。具体看好以下三条主线： 1）两海：2026年或将是中欧海风共振第一年，国内和出口海风有望量利齐升。国内十五五海风放量，且深远海0-1落地；海外海风规划持续上修，供给缺口扩大，年初英国AR7落地，看好后续海外订单的加速落地，重点推荐大金重工、东方电缆、海力风电、明阳智能，相关标的：天顺风能； 2）风机：国内风机涨价+风机出口，风机制造有望迎来盈利困境反转。本轮风机盈利修复，是风机涨价、成本下降（出口产品结构改善+陆风大型化放缓下规模效应显现）、需求高增下费用率下降等多重因素催化，重点推荐金风科技、运达股份、明阳智能； 3）零部件：零部件固定资产投资大，风电需求超...

Committee on Transportation and Infrastructure Chair Sam Graves (R-Mo.). Kylie Cooper | Reuters Republican Rep. Sam Graves of Missouri, chairman of the House Transportation and Infrastructure Committee, announced Friday that he won't seek reelection, joining a wave of retirements ahead of the midterm elections. Graves, 62, has represented a solidly GOP and rural northern part of Missouri since 2001. Just last month, he filed for reelection in what would have been a campaign for a 14th term. But he said in a social media post Friday that he's "making room for the next generation." So far, 58 House members are stepping down or running for some other office, putting Congress on track for record turnover. Graves made his announcement just days before Tuesday's filing deadline in Missouri for candidates. "It's time to pass the torch and allow a new guard of conservative leaders to step forward and chart a path forward for Missourians," Graves said. Graves has been at the center of discussions about aviation safety and investigations into the deadly 2025 collision between an airliner and an Army helicopter over the Potomac River. Kansas City Mayor Quinton Lucas, a Democrat, was among those to praise Graves. He said the longtime congressman "helped deliver some of our community's most important projects over the past generation." Although Graves' district is considered safe for Republicans, the party faces headwinds as it tries to maintain control of the House. Polling shows most Americans believe the U.S. military action against Iran has gone too far, and voters are increasingly worried about President Donald Trump's failure to address affordability issues. Trump brushed off any concerns at a gathering of Republicans this week and predicted that his party will have larger congressional majorities after November's elections. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Sharamand/iStock via Getty Images Investment Thesis The drop in Sandisk ( SNDK ) since my last coverage appears to be an overreaction to Google’s TurboQuant. The market is obsessed with "6x compression" but is not realizing this is only for KV cache, not total storage, and making inference cheaper will only increase, not decrease, use of AI. Honestly, this appears to be noise, not a structural concern. Meanwhile, Sandisk is signing up multi-year deals and preparing High Bandwidth Flash for 2026, exactly where this market is going. This is a more predictable business, not less. This has solid cash flows and a reasonable valuation, making this pullback a strong buying opportunity, not a cause for concern. Long-Term EPS Growth Backed by Supply Contracts and 2026 High-Bandwidth Flash Production As I see it, Sandisk allocates 75% of OpEx directly to research. This massive capital deployment is the primary factor for continuous tech advancement. Decades of continued research funding led to the advanced BiCS8 tech node. The use of wafer bonding processes separates CMOS logic fabrication from the NAND memory array fabrication. Bonding these layers together leads to a two -terabit die featuring maximized data transfer speeds and optimal power consumption levels. So, the resulting quad-level cell performance can build a gold standard in the memory hardware sector. The global move toward AI workloads needs memory architectures capable of extreme data bandwidth. Earlier, standard NAND design chose vertical density to lower the cost per bit. Sandisk engineers now change focus toward maximizing bandwidth for inference processors. The resulting High-Bandwidth Flash product may target read-optimized deterministic computing environments. As per Sandisk management, it may produce the High-Bandwidth Flash die by 2026’s end. This tech supports Sandisk to capture volume from data center build-outs. Sandisk Website Moreover, Sandisk actively collaborates with SK hynix to form standardiza...

格隆汇3月28日｜印度财政部在月度经济报告中表示，2027财年贸易逆差将显著扩大，印度经济面临的风险平衡偏向下行。

Investors have unique opportunities in these consumer-oriented stocks with growing dividends.

Key PointsA potential Target comeback could make this stock a solid growth and income play.

In this article UAL LYFT DASH UBER FDX UPS Follow your favorite stocks CREATE FREE ACCOUNT USPS and United Airlines. Joe Raedle | Grace Hie Yoon | Anadolu | Getty Images As the U.S.-Iran war enters its fifth week, consumers are facing economic consequences that impact everything from travel planning to mail delivery. Companies and other organizations are increasingly preparing for an environment in which the conflict — and subsequent jolt to crude prices — evolves from an unexpected shock into a long-term challenge. As corporate policies change, Americans will feel it on their pocket books beyond just as the gas pump . Many companies tie these adjustments to surging oil prices with the blockage of the key Strait of Hormuz passageway depressing supply. Prices on the May contract for Brent — a global benchmark for oil prices — have surged more than 55% in March, on track for their biggest monthly gain on record going back to 1998. U.S. oil prices are up slightly less, logging a 49% increase month to date. Stock Chart Icon Stock chart icon Brent's May contract in 2026 The U.S. Postal Service said Wednesday that it was looking to slap a temporary 8% fuel surcharge on deliveries of packages and express mail. The tax, which needs regulatory approval, would begin in late April and last into early 2027, the USPS said. "This temporary price adjustment will provide needed flexibility for the Postal Service by helping to ensure that the actual costs of doing business are covered, as required by Congress," the Postal Service said in its announcement. The Postal Service said its charge was lower than those issued by competitors. FedEx and UPS upped their added fuel fees following the U.S.-Israeli strikes on Iran, CNBC previously reported. United Airlines said it would cut back on running some lower-profit flights in the coming quarters as fuel costs jump, according to a memo from CEO Scott Kirby. Routes that take place midweek, Saturday and overnight are among those targeted. Th...

Hispanolistic/E+ via Getty Images Introduction The last time I covered Global Partners LP ( GLP ), I highlighted their strong fundamentals, with a resilient business model and a strong history of distribution increases, coming at what I consider to be a significant discount to fair value. Proving their resilience and still offering a solid yield, GLP remains a Strong Buy, coming at an attractive valuation even in this environment, standing to benefit from their ramped-up investments and potential macro improvements in the longer-term. Solid Despite Macro Weakness Global Partners LP IR GLP reported a relatively weak Q4, missing the market's top- and bottom-line estimates as a result of unfavorable market conditions in Commercial and Wholesale, while the Adj. DCF after distribution for their preferred units reached $183.8 million (vs. $198.6 million in 2024), which remains solid for a ~$1.53 billion market cap. As for 2026, the CFO mentioned the following CAPEX expectations, seeing a significant increase to $135 million to $155 million (compared to only $91.5 million in 2025) as the company plans to continue their terminal portfolio expansion: Full year 2025, we had $54 million in maintenance CapEx and $37.5 million in expansion CapEx. For the full year 2026, we expect maintenance CapEx in the range of $60 million to $70 million and expansion CapEx, excluding acquisitions, in the range of $75 million to $85 million. Our current CapEx estimates depend in part on the timing of project completions, the availability of equipment and labor, weather and any unforeseen events or opportunities that require additional maintenance or investment. Global Partners LP IR Financially, based on GLP’s latest report , we continue to see a solid position, with current assets covering their current liabilities, with the company generally not holding a lot of cash on the balance sheet. Global Partners LP IR As we can see, the debt schedule is well spread into the future despite coming wit...

The European Union Hates Hungary, Loves Ukraine Authored by J.B. Shurk via American Thinker , What’s in a name? These days…not much. The European Union does not include Ukraine; nevertheless and notwithstanding the objections of E.U. members Hungary and Slovakia... ...the European supra-state insists on paying the salaries of Ukraine’s government bureaucracy while that nation’s martial-law-holdover-president, Volodymyr Zelensky, fights to maintain control over a breakaway region that has rejected Ukrainian rule since the 2014 coup d’état of Ukraine’s then-president, Viktor Yanukovych. The North Atlantic Treaty Organization does not include Ukraine; nevertheless and notwithstanding the objections of NATO members Hungary and Slovakia... ....the American-led military alliance insists on sending money and weapons to the Kyiv regime warring with the Russian Federation over territories whose people overwhelmingly identify as Russian. Former Dutch prime minister and current secretary general of NATO, Mark Rutte, has stated on multiple occasions that the military alliance would continue to help defend non-NATO-member Ukraine. According to Ukraine’s newly appointed, thirty-something-year-old defense minister, Mykhailo Fedorov, Ukraine has over two million draft dodgers and a quarter of a million active-duty troops who have gone AWOL. So NATO is protecting a non-NATO country whose men refuse to fight . NATO is assisting a Kyiv dictatorship that depends almost entirely upon conscription (including the violent “busification” of “recruits” after draft officers break into vehicles and homes with drawn weapons). While the E.U. and NATO fight Russian authoritarianism by protecting Ukrainian authoritarianism , both institutions have remained relatively quiet as member states sustain actual attacks. Seven months after Russia moved to annex the Russophone regions of Ukraine, the Nord Stream pipelines transporting natural gas from Russia to Germany were sabotaged and made inoperable. G...

In this article SHEL TTE @CL.1 @LCO.1 Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 3:13 03:13 Energy execs weigh in on how long the oil market can weather lost Middle East oil barrels Closing Bell: Overtime HOUSTON — The CEOs of the world's most influential oil and gas companies delivered a sobering message this week about the impact of the Iran war on energy supplies and the long-term consequences for the global economy. The executives gathered in Houston, Texas, for S&P Global's annual CERAWeek energy conference to take stock of the war. They warned that the market is not reflecting the scale of the disruption to oil and gas supplies. Asia and Europe will face fuel shortages if the war drags on, the executives said. Oil prices are likely to remain high even if the conflict ends as countries restock depleted reserves, they said. "You just can't take 8 to 10 million barrels a day of oil and 20 or so percent of the [liquefied natural gas] market off the world stage without having some significant repercussions," ConocoPhillips CEO Ryan Lance told CERAWeek attendees. Iran has basically imposed an economic blockade against the oil producers in the Middle East by closing the Strait of Hormuz, said Sheikh Nawaf al-Sabah, the CEO of Kuwait Petroleum Corporation. The Strait is the vital artery that connects the Gulf Arab producers' oil exports to global markets. "This is an attack not only against the Gulf, but it is an attack that is holding the world's economy hostage," al-Sabah told conference. The CEO warned that the war will have a "domino effect" across the global economy. "The costs of this war don't stay within geographical lines in this region," al-Sabah said. "They extend all the way through supply chain." The oil shock is the worst since the Arab oil embargo against the U.S. and other Western nations over their support for Israel in 1973 Mideast war, said Paul Sankey, an independent analyst at Sankey Research. "This is the worst I've seen," sa...

Dougal Waters/DigitalVision via Getty Images CAVA Group ( CAVA ) shares surged 25% after reporting earnings, as the Mediterranean food chain overcame industry woes with positive same-restaurant sales growth in Q4 and a strong outlook for 2026. Amid a broad market selloff, CAVA's stock has pared some of its gains since, but results are far from justifying the stock's initial response and current valuation. CAVA Reports Better-Than-Expected Quarter Amid High Stakes The last few quarters have been pretty harsh for restaurant companies. Growth has plummeted, and so have many of the stocks in the sector. Data by YCharts Despite the fallout, many restaurant stocks still trade at lofty multiples, as earnings are contracting, and their starting valuations were high ahead of this downturn. While CAVA doesn't belong to the list of companies with declining earnings, it certainly is "guilty" of being very richly priced , even relative to other richly valued names in the sector. CAVA Q4’25 Earnings Release Therefore, the fourth quarter results were especially critical. If CAVA had failed to deliver a good enough quarter, the fall could have been quite significant. But CAVA didn't fail. CAVA Q4’25 Earnings Release With revenue growth of 21.2% and same-restaurant sales growth of 0.5%, CAVA delivered better numbers than many expected, especially when taking the 2-year comps into account. Created by the author based on company reports. That said, CAVA still ranks 11th out of 16 brands that reported Q4 results. To me, the stock's 28% rise year to date focuses entirely on the low expectations it had coming in, and completely ignores CAVA's numbers relative to peers. Operationally, CAVA Is Ahead Of Its Time Broadly speaking, best-in-class restaurant operators like Chipotle ( CMG ) are looking at gross margins (or restaurant-level margins) in the mid-20%. CAVA was already there for a brief period, but as it expands to new stores, margins are being slightly diluted. Still, they ended the...

MarianVejcik/iStock via Getty Images Fannie Mae ( FNMA ) and Freddie Mac ( FMCC ) were put into conservatorship in 2008 but have been on their path out of conservatorship via retained earnings since 2019. The government currently has a blocking senior equity position that it has successfully defended in court that would need to be restructured if the companies are going to have their balance sheets attract investors in their junior securities, which have had no real economic claim to quarterly earnings since being placed into conservatorship. After papering over their profits with accounting losses from 2008-2011 the government arranged for the net worth sweep in 2012 and took the reversal of these accounting losses in cash to the Treasury for general use to help with budget concerns. That stopped in 2019 when Mark Calabria (FHFA) and Steven Mnuchin (US Treasury) stopped the cash sweep and enabled the companies to retain earnings. It's 2026 now, and we are ripe for admin action. If you look at a vanilla pro forma equity restructuring of their audited balance sheets at historical earnings multiples, my recommendation is junior preferred, like FNMAS. Investment Thesis The first Trump administration started the retention of earnings for Fannie and Freddie, but wasn't able to retain enough earnings along with the COVID-19 distraction to really get Fannie and Freddie out of government control along with Mark Calabria's restrictive ERCF . The companies now have been retaining earnings for like 2,348 days, or 6.4 years. Every quarter now they report all-time record net worths' exceeding $170B now combined ( Fannie , Freddie ). When I look at their balance sheets and project a pro-forma IPO at historical valuations, I convert the government's entire equity position to common shares, their senior preferred stock, and warrants. At a historical valuation, junior preferred shares like FNMAS go to $25 or higher on dividend resumption or conversion to common at terms they agree t...

格隆汇3月28日｜在2026全球开发者先锋大会上，上海市委常委、副市长陈杰表示，上海以全国10%的智算供给能力，运营全国首个语料公共服务平台，发布一百五十余款的备案大模型，人形机器人的出货量全球领先，多款智能的芯片取得了突破。上海立志打造一座最懂开发者的城市，成为开发者最坚实、最温暖的支撑。通过降低创业门槛，让奇思妙想不再负重前行。依托高校与创智学院培育青年极客，上海已集聚近30万人工智能人才，为开发者创业者的大胆试错、勇于创新保驾护航。

Shares of corporate travel and expense management provider Navan soared after its latest earnings, but at least two analysts on Wall Street say its growing use of artificial intelligence is a key driver of future upside. Both Goldman Sachs and Loop Capital reiterated bullish recommendation on Navan after it reported fourth-quarter earnings post-market Wednesday. The stock soared more than 37% this week. Navan earned an adjusted 2 cents per share in its latest quarter, while analysts polled by FactSet had estimated a loss of 22 cents per share. Revenue of $177.9 million also topped analysts' expectations of $162.2 million. Additionally, Navan forecast current-quarter and full-year revenue above consensus estimates as well. Investors drove Navan shares 43% higher on Thursday, but the stock is still down more than 50% from its $25 per share initial public offering last October. Goldman was one of two lead underwriters and Loop Capital was one of three co-managers. NAVN 6M mountain NAVN 6M chart Goldman has a $23 price target on the stock, reflecting upside of 88% from Friday's close. Loop expects the stock to rally 63.8% to $20. Both investment banks point to Navan's earnings beat as a catalyst for their optimism. "The quarter benefited from strong sales execution, faster onboarding of large customers, and competitive wins against legacy incumbents. Management's tone remained upbeat on both the business and the broader travel environment, prompting strong yet prudent FY27 (C2026) guidance that calls for 24% revenue growth at the midpoint and meaningful margin improvement," wrote Loop Capital analyst Mark Schappel. Loop regards Navan as an "under-the-radar" stock, although Schappel said he trimmed his price target to $22 due to narrower price-to-earnings and other multiples across the sector. 'Long-term beneficiary' "We continue to view Navan as a long-term beneficiary of the digital disruption in the travel management space — a large market where incumbents have been s...

财联社3月28日讯（记者 赵昕睿） 招商证券于3月27日晚公布2025年年报，营收连续保持三年增长，利润创出历史新高，金融科技布局也取得关键突破。 年报数据显示，招商证券2025年实现营收249.7亿元，同比增长20%，连续三年保持增长；实现利润总额140.8亿元、净利润123.2亿元，同比分别增长25%、19%，双双创下历史新高。 业务层面，公司多项核心指标实现质效双升、排名突破。根据目前已披露的市场数据，公司财机业务代理买卖证券业务净收入排名跃居行业前三，代销金融产品净收入、股票质押业务规模与利息收入等关键指标排名均保持在行业前五；托管外包总规模首次突破4万亿元；投行业务股票承销金额与家数、IPO承销金额与家数等关键指标排名大幅提升，IPO承销家数第4的排名为近十年最佳。 金融科技成为招商证券高质量发展的重要引擎，全年实现三大核心突破： 一是建成证券行业首家基于云原生架构的核心交易系统，实现系统架构的技术领先； 二是积极建设“AI证券公司”，推动AI应用建设与迭代升级； 三是通过数字化能力的深度嵌入，推动财富管理、机构业务等主要业务平台数字化水平持续提升，实现数字化转型与业务价值的深度融合。 从主营业务来看，绝大部分板块实现收入增长，但其他业务收入出现阶段性调整。2025年，公司其他业务收入实现22.21 亿元，同比下降12.64%。 财富管理打造数字化新模式，AUM同比增长29%创新高 从业务板块看，财富管理为招商证券第一大营收来源。2025 年，该业务实现营业收入138.24 亿元，同比增长35.1%，主要由代理买卖证券业务手续费净收入增长驱动。 在行业财富管理转型浪潮下，公司加快构建以客户为中心的数字化财富管理体系，全年财富管理AUM同比增长29%，再创历史新高。同时持续强化财富顾问团队建设，依托AI赋能打造“AI +人工”双轮驱动服务模式，截至2025年末，财富顾问人数达1468 人。 境内外托管与交易规模同步稳步扩张。截至2025年12月末，公司正常交易客户数约2097.22万户，同比增长8.67%，托管客户资产5.29万亿元，同比增长23.89%。境外市场方面，招证国际托管客户资产规模2687.38亿港元，较2024年末增长24.64%。 值得关注的是，在行业普遍收缩分支机构的背景下，招商证券 2025 年未撤销任何分公司及营业部。截至年末，公司共设...

Andy Dignan, President of Five9 (NASDAQ:FIVN) , reported the sale of 8,293 shares of common stock in multiple open-market transactions on March 4 and March 5, 2026, according to a SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($17.78); post-transaction value based on March 5, 2026 market close ($17.78). * 1-year performance is calculated using March 26, 2026 as the reference date. Continue reading

Maria Vonotna/iStock via Getty Images Introduction: We introduced an all-funds portfolio to our marketplace members in August 2024. The idea was simple: start a set-it-and-forget-it type of portfolio that provides a sufficient level of income and market-matching growth in the long term. It has only been 20 months since its launch, which is too short a period to judge any financial strategy. But it is still a long enough period to judge if we are moving forward in the right direction and if we are meeting most of our goals. One of our primary objectives was to keep this portfolio simple enough to start and easy to maintain. This goal dictated that we limit our choices to funds only and exclude any individual stocks. The biggest advantage of owning funds is that they can provide wide diversification with a single click of a mouse. Obviously, we would have more than one fund to provide diversification based on many different asset classes. The second most important criterion was income. So, the portfolio should be able to provide a decent level of income for someone who needs income during their retirement. Most retirees do not want to stress about (on a frequent basis) what to sell and when to sell to raise income for living expenses. So, we wanted our portfolio to generate a decent amount of income without compromising on growth. Obviously, if you do not need income or need less than what the portfolio throws out, it can easily be reinvested. In summary, our original portfolio had the following goals: A handful of investments, but still diversified into many asset classes. To provide a roughly 5% income yield. To provide market-matched total returns. Also, the portfolio should be passive, meaning set-it-and-forget-it. The Fund Portfolio: With the above-listed goals in mind, we selected 7 funds, which are as follows: Table-1: Ticker Fund's name Allocation % Yield % Asset-class or type of fund ( ADX ) Adams Diversified Equity Fund 20% 8.51% Large-cap Blue-chip stocks (...

syahrir maulana/iStock via Getty Images Market Overview The S&P 500 Index increased by 2.66% (total return, in USD) in the fourth quarter of 2025, while the Russell 2000 Index rose by 2.21% (total return, in USD). The fourth quarter demonstrated broad resilience, as the major US indices achieved widespread gains despite softening labor market data, a record government shutdown, and increasing scrutiny of heightened artificial intelligence-related expenditures. While initial concerns regarding the sustainability of the artificial intelligence growth theme and elevated valuations led to some volatility and sector rotation, this shift broadened market leadership, further underpinned by robust corporate earnings that indicated fundamental strength. Concurrently, the Federal Open Market Committee continued its path of monetary easing, which further contributed to a broadly positive market outlook. The best-performing sectors within the S&P 500 were Health Care, Communication Services, and Financials, while the worst performing sectors were Real Estate, Utilities, and Consumer Staples. For the Russell 2000, the best-performing sectors were Health Care, Materials, and Communication Services, while the worst-performing sectors were Consumer Staples, Information Technology, and Consumer Discretionary. Portfolio Attribution The Goldman Sachs Small Cap Value Fund – Institutional Shares underperformed its benchmark, the Russell 2000 Value Index (net), during the quarter. Stock selection in Information Technology and Financials contributed the most to relative returns, while our underweight position in Health Care and stock selection in Energy detracted from relative returns. MidWestOne Financial Group, Inc. (0.6%) , a bank holding company, was the top contributor to relative returns during the quarter. The share price jumped on the news that Nicolet Bankshares was acquiring MidWestOne for a significant premium, with the deal projected to close in the first half of 2026. We beli...

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