As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys. At Kayne Anderson MLP Investment, a filing with the SEC revealed that on Friday, Pr
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys. At Kayne Anderson MLP Investment, a filing with the SEC revealed that on Friday, Pr
Late-night hosts discussed Trump’s restrictive voting bill, ICE agents at US airports and a mysterious ‘gift’ from Iran Late-night hosts mocked Donald Trump ’s mail-in voting as he tries to end mail-in voting, ICE agents in US airports and a mysterious “gift” from Iran . Continue reading...
Late-night hosts discussed Trump’s restrictive voting bill, ICE agents at US airports and a mysterious ‘gift’ from Iran Late-night hosts mocked Donald Trump ’s mail-in voting as he tries to end mail-in voting, ICE agents in US airports and a mysterious “gift” from Iran . Continue reading...
‘US soldiers would look for “suspected terrorists” in Iraqi homes and usually find nothing. This could be my grandma’s living room – it shows that insane violence can continue amid normal life’ I took this picture during my first time in Iraq, 20 years ago. It was the first entry in a body of work about the US post-9/11, at home and at war, which has occupied a good chunk of my professional life f...
‘US soldiers would look for “suspected terrorists” in Iraqi homes and usually find nothing. This could be my grandma’s living room – it shows that insane violence can continue amid normal life’ I took this picture during my first time in Iraq, 20 years ago. It was the first entry in a body of work about the US post-9/11, at home and at war, which has occupied a good chunk of my professional life for the last two decades. I had turned 25 the week before and it was a formative journey on a personal level. It was the first time I experienced war, and my understanding of my country and its relationship to the world developed in the crucible of this extremely violent situation, which was descending into civil war while I was there. I had been embedded in Iraq with the US military for six weeks or so at this point, and had taken some good pictures. But this one was different and it still means something to me today. It was the first I had taken that wasn’t overtly channelling the history of war photography – which largely focusses on violence, horror and victims. Those are important things to show, but I wanted to understand this particular conflict, and how my position as an American of the same generation as those fighting could help me interpret it for the public. I guess the image crystallised something I had seen – this vast machine of military might mobilised in the Middle East; the momentum of all these young men with powerful weapons patrolling cities in search of people identified as enemies of America, enemies of democracy. Continue reading...
ChatGPT-maker OpenAI listed its reliance on Microsoft (MSFT) as a top risk in an investor document ahead of a potential IPO (initial public offering), per CNBC. The company relies on Microsoft for “a substantial portion of our financing and compute.” Any change or termination of the partnership could harm OpenAI’s “business, prospects, operating results, and financial condition.” This prospectus-l...
ChatGPT-maker OpenAI listed its reliance on Microsoft (MSFT) as a top risk in an investor document ahead of a potential IPO (initial public offering), per CNBC. The company relies on Microsoft for “a substantial portion of our financing and compute.” Any change or termination of the partnership could harm OpenAI’s “business, prospects, operating results, and financial condition.” This prospectus-like document circulated during OpenAI’s latest funding round. In February, it raised $110 billion fr
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
France’s National Rally missed key targets in local elections ahead of next year’s seismic presidential vote – and the mainstream is doing OK elsewhere, too • Don’t get This Is Europe delivered to your inbox? Sign up here The Rassemblement National is not invincible. A year out from a make-or-break presidential vote, that might be the main lesson (though there are others, which may prove more sign...
France’s National Rally missed key targets in local elections ahead of next year’s seismic presidential vote – and the mainstream is doing OK elsewhere, too • Don’t get This Is Europe delivered to your inbox? Sign up here The Rassemblement National is not invincible. A year out from a make-or-break presidential vote, that might be the main lesson (though there are others, which may prove more significant) from last weekend’s local elections in France. What’s more, news elsewhere – Giorgia Meloni’s referendum defeat in Italy, Janez Janša beaten in Slovenia, Hungary’s Viktor Orbán in trouble, the left bloc largest in Denmark – might suggest the rest of Europe’s far right are not having it all their own way, either. But let’s focus first on France – if only because while local elections are rarely a wholly accurate guide to future national outcomes, these ones seem to provide some pointers – and the stakes in the country’s next major election are vertiginously high. Continue reading...
Hong Kong has held onto its crown as the exclusive regional home of Art Basel for the next five years, the culture minister has announced, after a deal was struck to secure the partnership as the city looks to enhance its status as an international art-trading hub. Some galleries at a preview for the local edition of the world-renowned annual art fair told the South China Morning Post that global ...
Hong Kong has held onto its crown as the exclusive regional home of Art Basel for the next five years, the culture minister has announced, after a deal was struck to secure the partnership as the city looks to enhance its status as an international art-trading hub. Some galleries at a preview for the local edition of the world-renowned annual art fair told the South China Morning Post that global uncertainties had prompted collectors to take a greater interest in buying works from established...
JHVEPhoto/iStock Editorial via Getty Images Salesforce: Wipeout is not imminent Back in my previous update on Salesforce ( CRM ), I mentioned that the company is going nowhere, that they are here to stay for the long term, and CRM's recent fourth quarter earnings highlights validate my conviction. Yet, after a short respite in early March, even as the Iranian conflict intensified, CRM stock is yet...
JHVEPhoto/iStock Editorial via Getty Images Salesforce: Wipeout is not imminent Back in my previous update on Salesforce ( CRM ), I mentioned that the company is going nowhere, that they are here to stay for the long term, and CRM's recent fourth quarter earnings highlights validate my conviction. Yet, after a short respite in early March, even as the Iranian conflict intensified, CRM stock is yet again tethering dangerously closer to those downcast February moments once more. I thought the market would have banished the ghosts of the so-called “ 2028 Global Intelligence Crisis ” for good, but it seems like the worries haven't been fully extinguished. However, the market is having other ideas right now. They are scrutinizing software companies that have overexerted themselves in using stock based compensation, that Wall Street is now asking more questions about, as investors wonder whether their earnings quality could still hold up in a world where "AI eats software," and cause the long duration terminal value computations to be lowered significantly. Software forward earnings multiple (Yardeni research) In case, you have not realized, the application software industry have gone through one of the worst hammerings in the last decade, and I think that characterization is not even close. Despite analysts upgrading their forward earnings estimates for the industry, the multiples continue to go lower through February this year, as investors digested the multitudinous bearish takes on the long-term durability and sustainability of SaaS as we know it. Questions are now being asked whether these software companies will still be relevant in an era where we can simply vibe code, where Anthropic’s AI coding tools ( ANTHRO ) become even more intelligent, and capable, and, more worryingly, highly effective AI agents build software replacements for solutions provided by application SaaS companies. It is no longer just about overlaying over the SaaS interface, but customizing wit...
The S&P 500 Index ($SPX ) (SPY ) today is up +0.83%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.86%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.06%. June E-mini S&P futures (ESM26 ) are up +0.81%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) today is up +0.83%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.86%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.06%. June E-mini S&P futures (ESM26 ) are up +0.81%, and June E-mini Nasdaq futures...
AUSTIN, Texas & SAN FRANCISCO, March 25, 2026--RSA 2026 – CrowdStrike (NASDAQ: CRWD) today introduced the Charlotte AI AgentWorks Ecosystem in collaboration with launch partners including Accenture, Amazon Web Services (AWS), Anthropic, Deloitte, Kroll, NVIDIA, OpenAI, Salesforce, and Telefónica Tech. The ecosystem enables customers to leverage CrowdStrike’s no-code development platform and fronti...
AUSTIN, Texas & SAN FRANCISCO, March 25, 2026--RSA 2026 – CrowdStrike (NASDAQ: CRWD) today introduced the Charlotte AI AgentWorks Ecosystem in collaboration with launch partners including Accenture, Amazon Web Services (AWS), Anthropic, Deloitte, Kroll, NVIDIA, OpenAI, Salesforce, and Telefónica Tech. The ecosystem enables customers to leverage CrowdStrike’s no-code development platform and frontier AI models to securely build, orchestrate, and scale custom security agents, while opening new opp
DoorDash's e-commerce push lifts orders and GOV sharply, but rising competition and a premium valuation complicate the outlook for sustained growth momentum.
DoorDash's e-commerce push lifts orders and GOV sharply, but rising competition and a premium valuation complicate the outlook for sustained growth momentum.
Ondas (NASDAQ:ONDS) used its fourth-quarter and fiscal-year 2025 earnings call to emphasize accelerating momentum into early 2026, driven by growth in its Ondas Autonomous Systems (OAS) segment, an expanded acquisition strategy, and new initiatives aimed at broadening its multi-domain intelligence,
Ondas (NASDAQ:ONDS) used its fourth-quarter and fiscal-year 2025 earnings call to emphasize accelerating momentum into early 2026, driven by growth in its Ondas Autonomous Systems (OAS) segment, an expanded acquisition strategy, and new initiatives aimed at broadening its multi-domain intelligence,
Ministers to introduce temporary ban on cryptocurrency donations to political parties after review UK politics live – latest updates Ministers are introducing a temporary ban in cryptocurrency donations following an official review . Philip Rycroft, a former senior civil servant, made the recommendation as part of a review into countering foreign financial influence and interference in UK politics...
Ministers to introduce temporary ban on cryptocurrency donations to political parties after review UK politics live – latest updates Ministers are introducing a temporary ban in cryptocurrency donations following an official review . Philip Rycroft, a former senior civil servant, made the recommendation as part of a review into countering foreign financial influence and interference in UK politics. Continue reading...
Sally Anscombe/DigitalVision via Getty Images Introduction Back when I last covered Chewy ( CHWY ), I reiterated their Hold rating, as the valuation still didn’t seem to offer a good enough margin of safety despite improving fundamentals and potential to grow both domestically and internationally over time, capitalizing on their significant amount of high-quality data that can allow them to tailor...
Sally Anscombe/DigitalVision via Getty Images Introduction Back when I last covered Chewy ( CHWY ), I reiterated their Hold rating, as the valuation still didn’t seem to offer a good enough margin of safety despite improving fundamentals and potential to grow both domestically and internationally over time, capitalizing on their significant amount of high-quality data that can allow them to tailor private label brands that meet current and future consumer needs. Following a strong year and solid guidance, I’m going to upgrade Chewy to a Buy, with the stock now reflecting a significant discount, with improving fundamentals and strong growth potential. Foundation Remains Great Chewy IR Despite slightly missing the market’s Q4 non-GAAP EPS estimates and meeting on revenue, Chewy’s growth advanced very well throughout the year, with a strong 14% increase in autoship customer sales and a FCF of $562 million in 2025 (compared to $452 million in 2024), slightly below my $574.56 million estimated before, for a strong 24.34% increase YoY. Chewy IR A main reason why the stock jumped following the report is Chewy’s solid 2026 guidance, expecting net sales between $13.60 billion to $13.75 billion (up 8.5% compared to 2025) while the Adjusted EBITDA margin would improve significantly to 6.6% to 6.8% (vs. 5.7% in 2025, 4.8% in 2024, and 3.3% in 2023). Based on the midpoint of this guidance, we should see net sales of $13.675 billion and an Adjusted EBITDA margin of 6.7%, meaning $916.23 million, while a FCF conversion rate of 80% (compared to ~78.16% in 2025) would get us to a FCF of $732.98 million, meaning a very strong ~30.42% growth rate as the company’s margins improve and they can leverage even a slower growth in net sales towards significant FCF growth. Chewy IR Financially, based on CHWY’s latest report , we see not only a strong position with a nearly spotless balance sheet, but also an improving one, with the company now holding over $860 million in cash and cash equiva...