TOPSHOT - Women walk past a ballistic missile launch vehicle in Tehran on February 11, 2026, during a rally marking the 47th anniversary of the 1979 Islamic revolution. (Photo by AFP via Getty Images) - | Afp | Getty Images Twelve U.S. troops were wounded, two of them seriously, in an Iranian military strike on Prince Sultan Air Base in Saudi Arabia, a U.S. official told Reuters on Friday. The lat...
TOPSHOT - Women walk past a ballistic missile launch vehicle in Tehran on February 11, 2026, during a rally marking the 47th anniversary of the 1979 Islamic revolution. (Photo by AFP via Getty Images) - | Afp | Getty Images Twelve U.S. troops were wounded, two of them seriously, in an Iranian military strike on Prince Sultan Air Base in Saudi Arabia, a U.S. official told Reuters on Friday. The latest casualties add to the more than 300 U.S. military service members who have been wounded since the war against Iran started on February 28. Earlier on Friday, the U.S. military said 273 of them had already returned to duty. Thirteen U.S. troops have been killed in the conflict. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Michael Vi/iStock Editorial via Getty Images Shares of Gilead Sciences ( GILD ) have been on a major run higher in recent years, far outperforming many peers that have been struggling. This made sense, as Gilead traded at very low valuations from the get-go. The problem is that this move higher has been driven by modest growth, yet amidst a re-rating in the valuation and Gilead rapidly getting rel...
Michael Vi/iStock Editorial via Getty Images Shares of Gilead Sciences ( GILD ) have been on a major run higher in recent years, far outperforming many peers that have been struggling. This made sense, as Gilead traded at very low valuations from the get-go. The problem is that this move higher has been driven by modest growth, yet amidst a re-rating in the valuation and Gilead rapidly getting reliant on its HIV business, I am much more cautious here. This compares to a much more bullish outlook in the fall of 2024. A recent M&A streak is not going to change that cautious stance here. Other, higher conviction ideas, including recent IPOs, can be found at Value In Corporate Events . Continued M&A Gilead announced its second >$1 billion deal before the first quarter of the year had ended. Towards the end of March, Gilead announced a $1.675 billion cash deal to acquire Ouro Medicines, a privately held biotechnology company that focuses on developing T cell engager therapies for autoimmune diseases. With this deal, the company will get its hands on OM366 (gamgertamig), which has shown great efficacy in phase 1/2 clinical studies in antibody-mediated orphan diseases, with the FDA having granted fast-track and orphan drug designation. The deal involves another half a billion in contingent milestone payments, but all this could change a bit as Gilead is in discussions with Galapagos to effectively "share" the deal, as both firms could pay up 50% in this transaction. About a month ago, Gilead announced a much larger $7.8 billion deal to acquire Arcellx ( ACLX ) in a $115 per share cash deal, excluding a potential $5 per share earn-out through a contingent value consideration. Arcellx has multiple drugs in its pipeline; the most promising is a CAR T-cell therapy for multiple myeloma. With the company spending up to $10 billion in M&A, that was not all, as the company hiked the dividend in February. Following a modest near 4% increase in the payout, these payouts now come in ...
The U.S. stock market is having a dismal year. Investors are concerned about the economy, not just because President Trump's tariffs have coincided with slower GDP and jobs growth but also because the U.S.-Iran war has pushed oil prices to a multiyear high. Consequently, the three major stock market indices have dropped sharply from their peaks: The S&P 500 (SNPINDEX: ^GSPC) is down 7.1%, the Dow ...
The U.S. stock market is having a dismal year. Investors are concerned about the economy, not just because President Trump's tariffs have coincided with slower GDP and jobs growth but also because the U.S.-Iran war has pushed oil prices to a multiyear high. Consequently, the three major stock market indices have dropped sharply from their peaks: The S&P 500 (SNPINDEX: ^GSPC) is down 7.1%, the Dow Jones Industrial Average (DJINDICES: ^DJI) is down 8.4%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) is down 10.6%. That puts the Nasdaq squarely in market correction territory. While that sounds ominous, the index has usually rebounded quickly. History says this will happen next. Continue reading
Hong Kong authorities have insisted that the three-hour time limit is sufficient for residents of the fire-ravaged Wang Fuk Court to retrieve their belongings, with discretion to be exercised for those requesting a second entry. Deputy Chief Secretary Warner Cheuk Wing-hing said on Saturday that although each household could register up to four people to enter the building, only one person would b...
Hong Kong authorities have insisted that the three-hour time limit is sufficient for residents of the fire-ravaged Wang Fuk Court to retrieve their belongings, with discretion to be exercised for those requesting a second entry. Deputy Chief Secretary Warner Cheuk Wing-hing said on Saturday that although each household could register up to four people to enter the building, only one person would be allowed into severely damaged flats owing to safety concerns. “With four people and three hours...
A lot of people are feeling iffy about today's economy. And that's understandable. Not only is stubborn inflation squeezing workers' paychecks, but tensions overseas, slow job gains, and tariffs are causing a lot of folks to feel uneasy. And while there's certainly no guarantee a recession will hit in 2026, it's a possibility. Image source: Getty Images. Continue reading
A lot of people are feeling iffy about today's economy. And that's understandable. Not only is stubborn inflation squeezing workers' paychecks, but tensions overseas, slow job gains, and tariffs are causing a lot of folks to feel uneasy. And while there's certainly no guarantee a recession will hit in 2026, it's a possibility. Image source: Getty Images. Continue reading
The average one-year price target for Woodside Energy Group (ASX:WDS) has been revised to $31.06 / share. This is an increase of 15.32% from the prior estimate of $26.93 dated February 21, 2026. The price target is an average of many targets provided by analys
The average one-year price target for Woodside Energy Group (ASX:WDS) has been revised to $31.06 / share. This is an increase of 15.32% from the prior estimate of $26.93 dated February 21, 2026. The price target is an average of many targets provided by analys
Andrii Dodonov/iStock via Getty Images Corporate bonds delivered a strong 2025. The broad investment-grade market posted a total return of approximately 7.77%, rewarding investors who maintained fixed income allocations through a volatile rate environment. 1 More than $540 billion flowed into taxable bond funds over the course of the year, the highest annual total on record. 2 That enthusiasm, how...
Andrii Dodonov/iStock via Getty Images Corporate bonds delivered a strong 2025. The broad investment-grade market posted a total return of approximately 7.77%, rewarding investors who maintained fixed income allocations through a volatile rate environment. 1 More than $540 billion flowed into taxable bond funds over the course of the year, the highest annual total on record. 2 That enthusiasm, however, has compressed credit spreads to levels not seen in decades. Investment-grade option-adjusted spreads entered 2026 in the 2nd percentile of their 20-year range, leaving little room for further tightening. 3 The question facing bond investors now is straightforward: in an environment where the easy gains from spread compression may already be behind us, where does income come from next? Tight Spreads Demand a Different Approach When spreads are wide, nearly any diversified bond portfolio benefits from the rising tide. When spreads are historically tight, the margin for error shrinks. A single credit misstep can erase months of carry. This is the environment bond investors face in 2026. Analysts at Aberdeen Investments have noted that security selection becomes more important than simply owning the market when spreads offer limited compensation for credit risk. 3 Charles Schwab has echoed a cautiously constructive view, calling 2026 “another generally good year for bonds” while emphasizing the importance of selectivity. 4 Corporate bond supply may reach a record $2.25 trillion in gross issuance this year, which means investors will face no shortage of new paper to evaluate. 5 Investment-grade credit spreads have compressed steadily since the 2022 peak and now sit near the tightest levels observed in two decades, reducing the passive beta opportunity in corporate bonds. Basis Points (bps). Beta - in finance measures an investment’s volatility or systematic risk compared to the overall market (usually the S&P 500), acting as a gauge for sensitivity. An Active Approach to ...
I predict that the Trump bull market will soon end. But there are two somewhat troubling issues with this prediction that need to be addressed right off the bat. First, less than three months ago, I predicted that the S&P 500 (SNPINDEX: ^GSPC) would deliver a single-digit gain in 2026. However, an important part of Bayesian statistics is that you should "update your priors." In other words, you sh...
I predict that the Trump bull market will soon end. But there are two somewhat troubling issues with this prediction that need to be addressed right off the bat. First, less than three months ago, I predicted that the S&P 500 (SNPINDEX: ^GSPC) would deliver a single-digit gain in 2026. However, an important part of Bayesian statistics is that you should "update your priors." In other words, you should change your initial assumptions in light of new data or evidence. My new prediction reflects an update to my prior assumptions. Second, the bull market really isn't the "Trump bull market." After all, the stock market run began in late 2022, when Joe Biden was president. Since President Trump has often taken credit for the stock market's performance, though, I'll be generous by attaching his name to the current bull market (and the bear market that's potentially on the way, too). Continue reading
The average one-year price target for Lendlease Group - Debt (ASX:LLC) has been revised to $5.20 / share. This is a decrease of 10.17% from the prior estimate of $5.79 dated February 21, 2026. The price target is an average of many targets provided by analysts
The average one-year price target for Lendlease Group - Debt (ASX:LLC) has been revised to $5.20 / share. This is a decrease of 10.17% from the prior estimate of $5.79 dated February 21, 2026. The price target is an average of many targets provided by analysts
Italian finishes 0.298sec ahead of George Russell Piastri qualifies third with McLaren teammate Norris fifth Kimi Antonelli claimed pole position for the Japanese Grand Prix, completing another dominant display for Mercedes who have yet to be beaten to pole in the three opening races of the new Formula One season. With his Mercedes teammate George Russell in second they also completed the team’s t...
Italian finishes 0.298sec ahead of George Russell Piastri qualifies third with McLaren teammate Norris fifth Kimi Antonelli claimed pole position for the Japanese Grand Prix, completing another dominant display for Mercedes who have yet to be beaten to pole in the three opening races of the new Formula One season. With his Mercedes teammate George Russell in second they also completed the team’s third straight lockout of the front row . Their nearest competitor was McLaren’s Oscar Piastri in third, a good result for the team but he was more than three-10ths of a second behind. Continue reading...