Shares of business development companies fell Monday, as concerns over the group’s widespread exposure to software sparked a renewed sell off. Blue Owl Capital Corp .’s stock was down about 5% while Ares Capital Corp ., Sixth Street Specialty Lending Inc. and Trinity Capital Inc. all fell by at least 3%. The selloff reflects a deepening anxiety over exposure to a sector currently being upended by ...
Shares of business development companies fell Monday, as concerns over the group’s widespread exposure to software sparked a renewed sell off. Blue Owl Capital Corp .’s stock was down about 5% while Ares Capital Corp ., Sixth Street Specialty Lending Inc. and Trinity Capital Inc. all fell by at least 3%. The selloff reflects a deepening anxiety over exposure to a sector currently being upended by artificial intelligence. Fears of disruption have rattled credit globally, prompting software loans in the broadly syndicated market to trade off around 4 points last week. An index that tracks software shares plunged 15% in January, its biggest monthly decline since October 2008. “Software is the largest sector exposure for BDCs, at around 20% of portfolios, making the industry particularly sensitive to the recent decline in software equity and credit valuations,” Barclays analysts including Peter Troisi wrote in a note on Monday. The total exposure was about $100 billion in the third quarter of last year, the analysts said, citing PitchBook data. Read More: AI Boom Is Triggering Software ‘Loan-Ageddon’ As publicly traded entities, BDCs provide a real-time window into the otherwise opaque direct-lending market. Most of them report earnings in the coming weeks, where their tech-focused holdings will be under close scrutiny for signs of stress. Given BDCs’ main exposure is illiquid private credit loans that don’t trade, the risks are hard to gauge, the analysts wrote. The exposure to software began rising in 2019 and peaked in 2023, a period for elevated software valuations. “As a result, LTVs on those loans may be higher given the recent drawn down in the valuations of tech companies,” the analysts wrote. Fears of an AI-induced wave of obsolescence have left investors wondering which industries will be left behind. Private credit could see default rates surge to as high as 13% in the US if artificial intelligence triggers an “aggressive” disruption among corporate borrowers...
Federal Reserve Bank of Atlanta President Raphael Bostic describes the “very large job” performed by the Federal Reserve chair and wishes Kevin Warsh well after he was nominated by President Donald Trump to succeed Jerome Powell as Fed chair. Bostic speaks to the Rotary Club of Atlanta. (Source: Bloomberg)
Federal Reserve Bank of Atlanta President Raphael Bostic describes the “very large job” performed by the Federal Reserve chair and wishes Kevin Warsh well after he was nominated by President Donald Trump to succeed Jerome Powell as Fed chair. Bostic speaks to the Rotary Club of Atlanta. (Source: Bloomberg)
More than $3 trillion is expected to be spent building the data centers needed for the AI boom, and much of the funding is coming from debt markets. Bloomberg’s Paula Seligson discusses the impact and risks this creates for bonds and credit. She joins Caroline Hyde on “Bloomberg Tech.” (Source: Bloomberg)
More than $3 trillion is expected to be spent building the data centers needed for the AI boom, and much of the funding is coming from debt markets. Bloomberg’s Paula Seligson discusses the impact and risks this creates for bonds and credit. She joins Caroline Hyde on “Bloomberg Tech.” (Source: Bloomberg)
Aeon Aviation Photography/iStock Editorial via Getty Images The Boeing Company ( BA ) is one of the most well-known aerospace companies worldwide. They design, manufacture, sell, and service both commercial and military aircraft. They are also active in the satellite, missile defense, and human space flight. After several years of range-bound trading, BA's share price seemed to break out in the la...
Aeon Aviation Photography/iStock Editorial via Getty Images The Boeing Company ( BA ) is one of the most well-known aerospace companies worldwide. They design, manufacture, sell, and service both commercial and military aircraft. They are also active in the satellite, missile defense, and human space flight. After several years of range-bound trading, BA's share price seemed to break out in the last year. Over the past 12 months, BA managed to significantly outperform both the broader market ( SPY ) and the industrials sector ( XLI ). This was driven primarily by the improved financial performance and the significant increase in orders. Data by YCharts The aim of my article today is to discuss whether this outperformance is likely to last in the coming months and quarters. I will be analyzing the firm's latest earnings results , along with a set of traditional valuation metrics, to see whether the current share price could provide an attractive entry point or not. Earnings results BA recently reported its earnings results for the most recent quarter. The firm managed to beat analyst estimates both top- and bottom-line. Revenue came in at $23.9B, representing a substantial 56.8% increase compared to the prior year. These sales figures are $1.06 billion above analyst estimates. The increase was mainly driven by the 160 commercial deliveries. Q4 results (Boeing) Let us break down these results a bit more and focus on the firm's three reportable segments, Commercial Airplanes, Defense, Space & Security, and Global Services. What is key to mention is that each segment grew in the past quarter. The revenue of the largest segment, Commercial Airplanes, more than doubled, reaching $11.4 billion compared to the $4.8 billion in Q4 2024. This was mainly driven by the increased 737 production rates and the increased 787 production rates. The backlog stands at $567 billion. Commercial airplanes (Boeing) Defense, Space, and Security was a larger segment in Q4 2024, but because th...
Nastassia Samal U.S.-listed exchange traded funds kicked off the year with unprecedented momentum, as January inflows surged to a record $165B, according to State Street Investment Management’s latest ETF Flash Flows report. The haul marked the strongest January on record and exceeded the combined inflows of the past three Januarys, underscoring robust investor demand across asset classes. Equity ...
Nastassia Samal U.S.-listed exchange traded funds kicked off the year with unprecedented momentum, as January inflows surged to a record $165B, according to State Street Investment Management’s latest ETF Flash Flows report. The haul marked the strongest January on record and exceeded the combined inflows of the past three Januarys, underscoring robust investor demand across asset classes. Equity flows were led by international exposures, with non-U.S. equity ETFs pulling in a record $60B, comfortably outpacing the $38B that went into U.S. equity funds. Emerging market ETFs were a standout within the category as well, attracting $21B on the month. In contrast, U.S. small-cap ETFs faced pressure, logging $4B in net outflows. Sector ETFs also posted a record month, gathering $18B overall, driven almost entirely by $19B flowing into cyclical sectors. Fixed income ETFs were another major highlight, drawing a record $56B as investors favored both low-cost bond strategies and active bond ETFs. Credit-focused ETFs absorbed $11B, while long-term and inflation-linked bond funds saw outflows. Furthermore, thematic ETFs added $4B, led by Robotics & AI and Smart Cities funds. Outlined below are Wall Street’s 20 largest ETFs by assets under management: No. 1: Vanguard S&P 500 ETF ( VOO ) No. 2: iShares Core S&P 500 ETF ( IVV ) No. 3: SPDR S&P 500 ETF Trust ( SPY ) No. 4: Vanguard Total Stock Market ETF ( VTI ) No. 5: Invesco QQQ Trust Series I ( QQQ ) No. 6: Vanguard FTSE Developed Markets ETF ( VEA ) No. 7: Vanguard Growth ETF ( VUG ) No. 8: SPDR Gold Shares ( GLD ) No. 9: iShares Core MSCI EAFE ETF ( IEFA ) No. 10: Vanguard Value ETF ( VTV ) No. 11: Vanguard Total Bond Market ETF ( BND ) No. 12: iShares Core MSCI Emerging Markets ETF ( IEMG ) No. 13: iShares Core U.S. Aggregate Bond ETF ( AGG ) No. 14: Vanguard Total International Stock ETF ( VXUS ) No. 15: iShares Russell 1000 Growth ETF ( IWF ) No. 16: Vanguard FTSE Emerging Markets ETF ( VWO ) No. 17: Vanguard Information T...
Schools in London could lose £45m in funding over the next four years as pupil numbers continue to fall, with secondary schools facing cuts to staff and curriculum as their budgets dwindle, a report has warned. Until now primary schools in the capital have been worst hit by falling birth rates, leading to around 90 school closures or mergers in the last five years, but the crisis is extending into...
Schools in London could lose £45m in funding over the next four years as pupil numbers continue to fall, with secondary schools facing cuts to staff and curriculum as their budgets dwindle, a report has warned. Until now primary schools in the capital have been worst hit by falling birth rates, leading to around 90 school closures or mergers in the last five years, but the crisis is extending into secondary schools, which are facing large declines in numbers. The report by London Councils warns that inner London schools face the sharpest drop, with demand for year 7 places at the start of secondary school expected to fall by 7.6% over the next four years. Reception places in primary schools are forecast to decline by 6.4%. Because schools are funded on a per-pupil basis, declining numbers – a particularly severe problem in the capital but one which is affecting many schools across the country – fewer pupils mean less funding and there are fears that education standards could be at risk. Councillor Ian Edwards, London Councils’ executive member for children and young people, said: “Maintaining high education standards is the absolute priority for London’s boroughs, but falling pupil numbers are putting real pressure on school budgets. “Boroughs are doing all they can locally to manage this whilst ensuring London’s education estate is protected, so school sites can continue to meet future need - particularly given the capital’s acute housing pressures and ambitious targets for housing growth. “Without action to reflect London’s circumstances, schools risk having to narrow the curriculum and reduce vital support for pupils.” The report estimates that the forecast decline in demand for school places equates to £15m funding cuts for primary school budgets and £30m for secondary schools in the capital. There are concerns that children with special educational needs and disabilities (Send) could be affected as support staff are cut. In addition, schools may be forced to re...
江蘇鹽城有大橋施工期間倒塌 至少2死3失蹤 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】江蘇鹽城一座大橋施工期間倒塌，造成至少2人死亡、3人失蹤，相關航段已經暫時封航。 大橋倒塌後斷開兩截，支架跌入水中。當地政...
江蘇鹽城有大橋施工期間倒塌 至少2死3失蹤 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】江蘇鹽城一座大橋施工期間倒塌，造成至少2人死亡、3人失蹤，相關航段已經暫時封航。 大橋倒塌後斷開兩截，支架跌入水中。當地政府通報，由中鐵十二局承建的連申線月港大橋，施工期間發生拱樑塌落事故，2人重傷送院後不治。江蘇鹽城市響水縣組織市縣兩級人員進行救援、事故調查和善後處置工作。
Etsy connects millions of buyers and sellers through niche marketplaces focused on handmade, vintage, and specialty goods. What happened According to a recent SEC filing dated Feb. 2, 2026, Hussman Strategic Advisors, Inc. increased its position in Etsy (ETSY +0.57%) by 42,000 shares during the fourth quarter of 2025. The estimated value of the trade was $2.56 million based on the quarterly averag...
Etsy connects millions of buyers and sellers through niche marketplaces focused on handmade, vintage, and specialty goods. What happened According to a recent SEC filing dated Feb. 2, 2026, Hussman Strategic Advisors, Inc. increased its position in Etsy (ETSY +0.57%) by 42,000 shares during the fourth quarter of 2025. The estimated value of the trade was $2.56 million based on the quarterly average share price. At quarter’s end, the fund’s Etsy holdings were valued at $4.66 million, up $1.87 million from the prior period. What else to know The fund’s purchase brought its Etsy stake to 1.13% of reportable AUM, making it Hussman’s second-largest holding. Top holdings after the filing: Qualcom : $4.67 million (1.13% of AUM) Etsy: $4.66 million (1.13% of AUM) Ubiquiti : $4. 65 million (1.12% of AUM) United Natural Foods : $4.24 million (1.03% of AUM) Charter Communications : $3.95 million (0.95% of AUM) As of Jan. 30, 2026, Etsy shares were priced at $52.96, down 5.53% over the past year, underperforming the S&P 500 by 18 percentage points. Company Overview Metric Value Price (as of market close 1/30/26) $52.96 Market Capitalization $5.25 billion Revenue (TTM) $2.85 billion Net Income (TTM) $182.15 million Company Snapshot Etsy: Operates online marketplaces including Etsy.com and Depop, offering handmade goods, vintage items, musical instruments, and fashion resale. Generates revenue through marketplace transaction fees, payment processing, advertising services, and value-added seller tools. Serves individual artisans, small business sellers, and buyers seeking unique or custom products, primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Etsy, Inc. is a leading global e-commerce platform specializing in unique and creative goods, connecting millions of buyers and sellers across multiple niche marketplaces. The company leverages a two-sided marketplace model, driving growth through a combination of transaction-based fees an...
Key Points Thanks to the gold mining industry's high operating levels, the rise in spot gold prices has led to outsized earnings for SSR Mining. If gold prices remain near record highs, SSR Mining stands to experience another surge in profitability. If prices move moderately higher, it may well propel this stock to price levels of $50 per share. 10 stocks we like better than SSR Mining › Recently ...
Key Points Thanks to the gold mining industry's high operating levels, the rise in spot gold prices has led to outsized earnings for SSR Mining. If gold prices remain near record highs, SSR Mining stands to experience another surge in profitability. If prices move moderately higher, it may well propel this stock to price levels of $50 per share. 10 stocks we like better than SSR Mining › Recently surging to over $5,000 per ounce, spot gold prices have been on a tear. However, shares in gold mining stocks like SSR Mining (NASDAQ: SSRM) have experienced even greater price appreciation. This is largely due to the operating leverage dynamic with gold stocks. With their costs largely fixed, incremental increases in the underlying commodity price can often represent pure profit. As a result, these types of stocks can experience outsize increases in profitability, even on a moderate rise in gold prices. Over the past year, SSR Mining shares have surged by over 190%, while the price of gold has risen by 72%. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Even as gold prices are starting to pull back slightly, don't rule out the prospect of a further rally in precious metal prices. In turn, this could lead to another period of outsize gains for this stock -- perhaps even a move to $50 per share, or more than double the current price. SSR Mining and the gold rally's impact on profitability SSR Mining may be considerably smaller than competitors such as Barrick Gold, but it's not an exploration-stage junior miner. The company owns profitable operating mines worldwide, including in the U.S., Canada, Turkey, and Argentina. SSR Mining primarily mines gold but also has interests in silver, copper, lead, and zinc. With spot gold prices going from $3,000 per ounce as recently as last March to $4,000 per ounce last September, then to prices north of $5,000 per ou...
Firefox will begin catering to those who don’t want AI in their browser. On Monday, Mozilla announced that Firefox will soon let users block all current and future generative AI features. Users will also have the option to block certain AI features in Firefox, while keeping others. Starting with Firefox 148, which is rolling out on February 24, users will find a new AI controls section within the ...
Firefox will begin catering to those who don’t want AI in their browser. On Monday, Mozilla announced that Firefox will soon let users block all current and future generative AI features. Users will also have the option to block certain AI features in Firefox, while keeping others. Starting with Firefox 148, which is rolling out on February 24, users will find a new AI controls section within the desktop browser settings. People who don’t want access to any AI features from Firefox can turn on the “Block AI enhancements” toggle. When this setting is turned on, they won’t see pop-ups or reminders to use existing or upcoming AI features. The new AI controls will also let users manage AI features individually. These features include “Translations,” which allows you to browse the web in your preferred language, Alt text in PDFs, AI-enhanced tab grouping, link previews, and Firefox’s AI chatbot in the sidebar, which lets you use your chosen chatbot as you browse, including services like Anthropic Claude, ChatGPT, Microsoft Copilot, Google Gemini, and Le Chat Mistral. “AI is changing the web, and people want very different things from it,” the company wrote in a blog post. “We’ve heard from many who want nothing to do with AI. We’ve also heard from others who want AI tools that are genuinely useful. Listening to our community, alongside our ongoing commitment to offer choice, led us to build AI controls.” The announcement comes as Mozilla appointed Anthony Enzor-DeMeo as its CEO back in December. Enzor-DeMeo said at the time that Mozilla would be investing in AI and would add AI features to Firefox, but that the company would make these features optional. “AI should always be a choice — something people can easily turn off. People should know why a feature works the way it does and what value they get from it,” he wrote in a blog post. Enzor-DeMeo’s comments come as Mozilla scrambles to adapt in a rapidly changing browser market. Although browsers like Firefox and Google ...
Joe Hendrickson Cruise line stocks sailed higher on Monday as sentiment on the sector stayed positive due to the early reports of a strong Wave Season, Bookings and pricing are both higher than a year ago for the early part of Wave Season. Last week, Royal Caribbean ( RCL ) characterized Wave Season as off to a “great” or “fantastic” start, citing the highest seven booking weeks in its history dur...
Joe Hendrickson Cruise line stocks sailed higher on Monday as sentiment on the sector stayed positive due to the early reports of a strong Wave Season, Bookings and pricing are both higher than a year ago for the early part of Wave Season. Last week, Royal Caribbean ( RCL ) characterized Wave Season as off to a “great” or “fantastic” start, citing the highest seven booking weeks in its history during Cyber sales and early Wave, and indicating that roughly two‑thirds of 2026 capacity is already sold at record rates. Of note, Wave Season is the cruise industry’s main annual booking period, typically running from early January through the end of March each year. During the period, cruise lines and travel agencies typically push their most aggressive promotions and sales, using the cold‑weather months and new‑year planning cycle to drive demand for sailings later in the year and even into following years. Looking ahead, investors are showing increasing confidence that the cruise line industry can sustain higher pricing while also filling ships further in advance. At the same time, recent management commentary about a sizable 2026 newbuild pipeline and geographic expansion, such as in Latin America, reinforces that a multi‑year growth story may be in play. Shares of Carnival ( CCL ) were up 4.4% in afternoon trading, while Viking Holdings ( VIK ) was up 4.2% and Royal Caribbean Cruises ( RCL ) rallied 3.9%. Norwegian Cruise Line Holdings ( NCLH ) led the cruise line pack, with a 7.4% pop. More on the cruise line sector Royal Caribbean Cruises Ltd. 2025 Q4 - Results - Earnings Call Presentation Royal Caribbean Cruises Has Gifted Investors A Great Trip Royal Caribbean Cruises Ltd. (RCL) Q4 2025 Earnings Call Transcript Carnival extends rally for a seventh straight session Royal Caribbean expects double-digit revenue growth and $17.70-$18.10 EPS in 2026 while expanding river cruise fleet
fokkebok/iStock via Getty Images A U.S. District judge ruled Monday that the Sunrise Wind project being developed by Ørsted ( DNNGY ) off the coast of New York's Long Island can resume construction that was halted by the Trump administration, the fifth such recent court win for the wind industry against the president. The project, which the company said was losing $2.5M per day while it sat idle, ...
fokkebok/iStock via Getty Images A U.S. District judge ruled Monday that the Sunrise Wind project being developed by Ørsted ( DNNGY ) off the coast of New York's Long Island can resume construction that was halted by the Trump administration, the fifth such recent court win for the wind industry against the president. The project, which the company said was losing $2.5M per day while it sat idle, would be "irreparably harmed" unless work was allowed to continue during the legal fight, the judge ruled, granting Ørsted's ( DNNGY ) request for a preliminary injunction blocking the Trump administration's stop-work order that likely was arbitrary and capricious. Ørsted ( DNNGY ) said it has spent $7B on the Sunrise Wind development, which is 45% complete and is expected to deliver enough energy to power more than 600K homes in New York upon completion, scheduled for next year. Last month , the same judge allowed Ørsted ( DNNGY ) to resume development of its Revolution Wind project off the coast of Rhode Island. More on Ørsted Orsted: The ADR Disconnect 'Hold'/Rotate Rating Was Correct (Rating Upgrade) Ørsted: The ADR Is Going Up Significantly, And Here's Why Ørsted Q3 2025 Earnings Call Presentation
Key Takeaways Oracle shares rose on Monday after the company said it planned to raise up to $50 billion through debt and equity sales this year to fund its AI data center buildout. Oracle is dramatically increasing its infrastructure spending to meet an AI-driven surge in demand for cloud computing and take on incumbents Microsoft, Alphabet, and Amazon. Oracle plans to raise billions to fund its a...
Key Takeaways Oracle shares rose on Monday after the company said it planned to raise up to $50 billion through debt and equity sales this year to fund its AI data center buildout. Oracle is dramatically increasing its infrastructure spending to meet an AI-driven surge in demand for cloud computing and take on incumbents Microsoft, Alphabet, and Amazon. Oracle plans to raise billions to fund its ambitious bets on AI and cloud computing. That has the stock rising today. The company on Sunday night said it intends to raise between $45 billion and $50 billion this year through a combination of debt and equity financing. The proceeds are intended to expand Oracle’s cloud computing capacity “to meet the contracted demand” of its largest customers—companies including Nvidia, Meta, OpenAI, and TikTok. Oracle (ORCL) shares, which fell premarket, jumped more than 3% when markets opened on Monday. The stock was recently up about 2%; tech stocks were mostly rising, led by the memory and semiconductor stocks that have defined the AI trade so far this year. Why This Is Important Oracle is borrowing billions to meet a surge in AI-driven demand for cloud computing. But the speculative tenor of Oracle's cloud business has made its stock sensitive to the ebbs and flows of AI optimism on Wall Street. Oracle is undertaking one of the most aggressive and risky AI infrastructure buildouts of the U.S. tech giants. Its backlog has more than quintupled in the past year to more than $500 billion, driven by multibillion-dollar cloud computing contracts that pit it against leading providers Microsoft (MSFT), Alphabet (GOOG), and Amazon (AMZN). Oracle plans to invest $50 billion in property and equipment in its 2026 fiscal year, less than its larger competitors but more than double last year's total. Unlike the cloud incumbents, who have funded their data center buildouts primarily with cash flows from legacy businesses, Oracle is borrowing to meet demand. The company sold $18 billion in bonds...
Waymo is becoming a real source of investor excitement on new valuation reports — reaffirming Jim Cramer's view that the Alphabet stock remains a buy for that and so much more. Once an Alphabet moonshot, launched as the Google Self-Driving Car project in 2009, Waymo nowadays is shooting to the moon. The robotaxi business is currently looking to close a $16 billion financing round at a nearly $110 ...
Waymo is becoming a real source of investor excitement on new valuation reports — reaffirming Jim Cramer's view that the Alphabet stock remains a buy for that and so much more. Once an Alphabet moonshot, launched as the Google Self-Driving Car project in 2009, Waymo nowadays is shooting to the moon. The robotaxi business is currently looking to close a $16 billion financing round at a nearly $110 billion valuation, according to Saturday reports from Bloomberg and the Financial Times . The financing — which could close as soon as this month — is said to involve new investors, including Sequoia Capital, DST Global, and Dragoneer Investment Group. Alphabet shares advanced 1.4% on Monday — reaching an all-time intraday high of nearly $345 each and continuing their positive 9.5% upswing to start the new year. The Google-parent stock really caught fire last year and gained more than 65% in 2025. For Jim, the Waymo news underscores why Alphabet continues to stand out against the tech landscape. "Waymo is dominant right now over what Tesla is doing," Jim Cramer said Monday during the Morning Meeting for Club members. Waymo competes with Tesla's robotaxis, which are being tested and operated in Austin, Texas. Tesla shares were down more than 1% on Monday. Waymo operates in the Phoenix, Arizona area, as well as the San Francisco Bay Area, and in Los Angeles. Miami just started last month, and Washington, D.C is next. Waymo partnered with Uber to bring the service to Austin and Atlanta. There has been speculation about whether Alphabet will eventually spin Waymo off into a separate business. Yet, the target $110 billion valuation is light years away from rival Tesla's nearly $1.6 trillion market capitalization. It is worth noting that robotaxis only represent a small part of Tesla, which last week announced an end to its production of Model S and X passenger electric vehicles in a shift to building robots. "I know that Waymo is small potatoes compared to so much of Alphabet, b...
Richard Drury/DigitalVision via Getty Images For the three months ended December 31, 2025, the total return on the Ave Maria Rising Dividend Fund ( AVEDX ) was -3.43%, compared to the S&P 500® Dividend Aristocrats Index at 1.72% and the S&P 500® Index at 2.66%. The returns for the Ave Maria Rising Dividend Fund compared to its benchmarks as of the end of the quarter were: Annualized FUND 1 YEAR 3 ...
Richard Drury/DigitalVision via Getty Images For the three months ended December 31, 2025, the total return on the Ave Maria Rising Dividend Fund ( AVEDX ) was -3.43%, compared to the S&P 500® Dividend Aristocrats Index at 1.72% and the S&P 500® Index at 2.66%. The returns for the Ave Maria Rising Dividend Fund compared to its benchmarks as of the end of the quarter were: Annualized FUND 1 YEAR 3 YEAR 5 YEAR 10 YEAR SINCE INCEPTION (5/ 2/ 05) Ave Maria Rising Dividend Fund ( AVEDX ) Prospectus Expense Ratio: 0.90% -0.39% 8.86% 8.90% 10.31% 9.27% S&P 500® Dividend Aristocrats Index 7.28% 7.60% 8.04% 10.49% 10.30% S&P 500® Index 17.88% 23.01% 14.42% 14.82% 11.08% Click to enlarge Performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value are historical and may fluctuate so that redemption value may be worth more or less than the original cost. Current performance may be lower or higher than what is quoted. Call 1-866-AVE-MARIA for the most current month-end performance. The Fund’s relative underperformance versus the S&P 500 was primarily driven by the benchmark’s strength in Technology, Communication Services, and Health Care, where the Fund was generally underweight and lagged on security selection. In Technology, three holdings, Accenture PLC ( ACN ), CDW Corporation ( CDW ), and Texas Instruments, Inc. ( TXN ), each declined more than 20% during the year, weighing on results. Communication Services was the strongest-performing sector in the S&P 500 in 2025, The underweight positioning, coupled with weaker relative performance in the Fund, contributed meaningfully to the return gap. In Health Care, results were also pressured by both allocation and selection, as Chemed Corporation ( CHE ) and Zoetis, Inc. ( ZTS ) were among the primary detractors during the year. The Fund’s largest sector contributors for the year were Consumer Discretionary, Industrials, and Consumer Staples. In Consumer Disc...
Roman Radziviliuk/iStock via Getty Images By Mike Maharrey Gold and silver both sold off on Friday in a correction that was probably overdue. Gold kicked off last week trading just over $5,020. As the week went on, the price soared, topping above $5,600 before crashing back below $5,000 on Friday. The yellow metal dropped as low as $4,679 before recovering to finish around $4,900, down modestly ar...
Roman Radziviliuk/iStock via Getty Images By Mike Maharrey Gold and silver both sold off on Friday in a correction that was probably overdue. Gold kicked off last week trading just over $5,020. As the week went on, the price soared, topping above $5,600 before crashing back below $5,000 on Friday. The yellow metal dropped as low as $4,679 before recovering to finish around $4,900, down modestly around 2.4 percent on the week. Even with the huge selloff, gold is still up 13 percent since the beginning of the year. Meanwhile, silver went on a similar wild ride, topping over $120 before briefly dipping below $80. It also recovered modestly late in the day, finishing around $86. Even with the selloff, silver is still up 18.7 percent since the beginning of the year. What Sparked the Selloff? Gold and silver were both due for a correction, but what sparked it? There were two headlines that created selling pressure. The first was Donald Trump’s announcement that Kevin Warsh will succeed Jerome Powell as chairman of the Federal Reserve. Warsh is considered much more hawkish than many of the other candidates. The markets were counting on the new Fed chief to be more willing to cut interest rates aggressively. As a so-called “inflation hawk,” many think Warsh won’t be quite so accommodating. A higher interest rate environment creates headwinds for gold and silver since they are non-yielding assets. I go into detail about why the reaction to Warsh was knee-jerk and irrational here . Not long after Trump announced Warsh as Fed chair, the Producer Price Index data came out and was much hotter than expected. The PPI climbed 0.5 percent month-on-month. The forecast was for a 0.2 percent rise. Core PPI surged 0.7 percent, smashing the 0.2 percent forecast. Producer prices are generally considered a leading inflation indicator, as companies pass at least some of their higher costs onto consumers. That means we could see a big jump in CPI next month, which would further dampen hopes ...
maybefalse/iStock Unreleased via Getty Images Alibaba Group Holding Limited ( BABA ) is China’s answer to the U.S.’s Amazon.com , Inc. ( AMZN ). BABA is a global e-commerce platform. BABA shares began trading on the NYSE in September 2014 at $92.70 per share. On February 2, 2026, BABA shares were 82.3% higher at $169. AMZN shares opened at $16.99 per share in September 2014. On February 2, 2026, A...
maybefalse/iStock Unreleased via Getty Images Alibaba Group Holding Limited ( BABA ) is China’s answer to the U.S.’s Amazon.com , Inc. ( AMZN ). BABA is a global e-commerce platform. BABA shares began trading on the NYSE in September 2014 at $92.70 per share. On February 2, 2026, BABA shares were 82.3% higher at $169. AMZN shares opened at $16.99 per share in September 2014. On February 2, 2026, AMZN shares were over 1,339% higher at $244.50. Chinese shares on foreign exchanges have far underperformed U.S. shares over the past years, and BABA is no exception. However, BABA has been in a bullish trend since reaching a low of $58.01 in October 2022. In 2025, BABA rose 100%, while AMZN shares rallied 9.08%. If BABA’s outperformance continues in 2026, the leveraged GraniteShares 2x Long BABA Daily ETF ( BABX ) could be a useful trading tool. BABA is a Leading Chinese Equity - The ADR Trades on the NYSE Alibaba Group Holding Limited’s company profile on Seeking Alpha states: BABA Company Profile (Seeking Alpha) An ADR, or American Depository Receipt, is a certificate issued by a U.S. bank that represents shares of stock in a foreign company. ADRs allow U.S. investors to buy and sell shares of non-U.S. companies on U.S. exchanges during U.S. trading hours, using U.S. dollars, simplifying access to international markets. BABA ADR shares trade on the NYSE. At $169 per share, BABA is a highly liquid ADR with a $404.808 billion market capitalization. BABA trades an average of over 14.826 million shares per day and pays a $2 dividend, yielding 1.18%. BABA Shares Have Exploded Higher in 2025 but Remain Far Below the All-Time High While BABA shares rallied 100% in 2025, they remain significantly below their all-time high. Monthly Chart of BABA Shares (Barchart) The long-term chart shows that BABA shares reached a record high of $319.32 in October 2020, then fell 81.8% to a low of $58.01 per share in October 2022. While the shares have nearly tripled from the October 2022 low, th...
Earnings Call Insights: Tyson Foods (TSN) Q1 2026 Management View CEO Donnie King highlighted, "our Q1 results with sales increasing to more than $14 billion, demonstrate our initiatives and our strategy are clearly working." He emphasized a significant change in segment reporting: "We've made an important change to our segment reporting measure from adjusted operating income to segment operating ...
Earnings Call Insights: Tyson Foods (TSN) Q1 2026 Management View CEO Donnie King highlighted, "our Q1 results with sales increasing to more than $14 billion, demonstrate our initiatives and our strategy are clearly working." He emphasized a significant change in segment reporting: "We've made an important change to our segment reporting measure from adjusted operating income to segment operating income as this will allow you, the investor, to see the results in the same manner that I utilize to judge the effectiveness of our business decisions and accountability for the choices we make." King also announced the closure of the Lexington, Nebraska beef facility and the scaling back of operations at the Amarillo, Texas plant to a single shift, stating, "these decisions position us to improve our overall beef capacity utilization and to compete more effectively in the beef business, both now and in the future." King reported, "our retail branded products... grew by 2.5% in volume and 3.6% in dollars, significantly outperforming the broader sector." He cited notable volume growth in brands such as Tyson national and regional branded fresh chicken (up 10.7%), Hillshire Farm lunchmeats (up 10.4%), Hillshire Snacking (up 12.5%), and Aidells sausage (up 7.2%). COO Devin Cole stated, "Prepared Foods delivered a strong quarter with sales up 8.1% versus last year... Segment operating income was $338 million, up $16 million versus prior year." Cole also noted the Chicken segment "delivered a strong first quarter, in line with the prior year with a significantly more challenging operating backdrop," achieving "3.6% year-over-year sales growth driven entirely by volume and strong consumer demand for chicken." CFO Curt Calaway explained, "For the first quarter, total company sales grew 6.2% to $14.3 billion compared to prior year, led by beef with solid contributions from Prepared Foods, chicken and pork... First quarter segment operating income was $811 million, down 12% compared...