syahrir maulana/iStock via Getty Images Fund performance The Fund gained (gross of fees) but underperformed the Russell 2000 Index. At the stock level, Corcept Therapeutics ( CORT ) detracted from performance. The company’s shares dropped sharply after its hypercortisolism drug failed to secure FDA approval, raising concerns about pipeline strength and future growth prospects. e.l.f. Beauty ( ELF ...
syahrir maulana/iStock via Getty Images Fund performance The Fund gained (gross of fees) but underperformed the Russell 2000 Index. At the stock level, Corcept Therapeutics ( CORT ) detracted from performance. The company’s shares dropped sharply after its hypercortisolism drug failed to secure FDA approval, raising concerns about pipeline strength and future growth prospects. e.l.f. Beauty ( ELF ) was also unfavourable. Its shares fell after the company reported a decline in organic sales and guided for slower growth, reflecting tough comparisons against last year’s significant distribution gains. Stride’s ( LRN ) shares fell as technology implementation issues fuelled customer churn and pressured full-year projections. Conversely, Alphatec’s ( ATEC ) shares rose and contributed to performance after a strong earnings report highlighted accelerating sales, market share gains in the spine segment and improved profitability. Aritzia ( ATZAF ) was also positive. Its shares gained as demand accelerated through the quarter, with new store openings and a mobile application launch reinforcing prospects for sustained growth. Viavi Solutions' ( VIAV ) shares rose after the company reported strong third-quarter results and successfully completed the acquisition of a high-speed Ethernet testing business, expanding its exposure to data-centre end markets. Market review US small caps rose over the quarter but lagged the broader US equities asset class. The US Federal Reserve (Fed) delivered two 25-basis point cuts during the quarter, first in October and again in December, lowering the federal funds target range to 3.50%–3.75% as it maintained its data-dependent approach. At the December meeting, the Fed also unexpectedly announced that it would expand its balance sheet by purchasing short-term Treasuries to support market liquidity. Throughout the period, policymakers continued to emphasise the importance of returning inflation, as measured by the core Personal Consumption Expe...
Alphabet has lined up banks to sell a rare 100-year bond, stepping up a borrowing spree by Big Tech companies racing to fund their vast investments in AI this year. The so-called century bond will form part of a debut sterling issuance this week by Google’s parent company, said people familiar with the matter. Alphabet was also selling $20 billion of dollar bonds on Monday and lining up a Swiss fr...
Alphabet has lined up banks to sell a rare 100-year bond, stepping up a borrowing spree by Big Tech companies racing to fund their vast investments in AI this year. The so-called century bond will form part of a debut sterling issuance this week by Google’s parent company, said people familiar with the matter. Alphabet was also selling $20 billion of dollar bonds on Monday and lining up a Swiss franc bond sale, the people said. The dollar portion of the deal was upsized from $15 billion because of strong demand, they added. Read full article Comments
Finland’s President Alexander Stubb said he expects the US will use the Munich Security Conference this week as an opportunity to reset the strained transatlantic relationship. “I hope the Munich conference will help improve relations, and I believe the United States will come with that mindset,” Stubb told reporters in Helsinki on Tuesday. Secretary of State Marco Rubio is expected to attend the ...
Finland’s President Alexander Stubb said he expects the US will use the Munich Security Conference this week as an opportunity to reset the strained transatlantic relationship. “I hope the Munich conference will help improve relations, and I believe the United States will come with that mindset,” Stubb told reporters in Helsinki on Tuesday. Secretary of State Marco Rubio is expected to attend the conference, and Stubb said he could imagine Rubio’s remarks “will be somewhat different” than Vice President JD Vance ’s strong criticism of Europe in a speech at Munich last year. Read More: Vance to Skip Munich Conference Where He Roiled Allies Last Year The transatlantic partnership that has been a staple of the global order the past eight decades has come near breaking point as the unity of NATO is under question and as Europe disagrees with President Donald Trump over his ambitions on Greenland, and issues including trade and digital services. While the relationship between Europe and the US is changing, Stubb said that the debate has been too “black and white” and lacks historical perspective, notably that the transatlantic partnership has faced challenges before. “We define the areas where we can cooperate with the United States, such as defense policy, and we are open about the issues where we disagree, including the current US administration’s approach to climate change and international institutions,” he said. Read More: ‘Disintegrating’ Global Order on Munich Agenda, Ischinger Says
At Holdings Channel, we have reviewed the latest batch of the 69 most recent 13F filings for the 09/30/2024 reporting period, and noticed that iShares Trust - Core S&P 500 Exchange Traded Fund (Symbol: IVV) was held by 23 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look. Before we proceed, it is important to point out that 13F fi...
At Holdings Channel, we have reviewed the latest batch of the 69 most recent 13F filings for the 09/30/2024 reporting period, and noticed that iShares Trust - Core S&P 500 Exchange Traded Fund (Symbol: IVV) was held by 23 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look. Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen. Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in IVV positions, for this latest batch of 13F filers: In terms of shares owned, we count 10 of the above funds having increased existing IVV positions from 06/30/2024 to 09/30/2024, with 12 having decreased their positions. Looking beyond these particular funds in this one batch of most recent filers, we tallied up the IVV share count in the aggregate among all of the funds which held IVV at the 09/30/2024 reporting period (out of the 4,573 we looked at in total). We then compared that number to the sum total of IVV shares those same funds held back at the 06/30/2024 period, to see how the aggregate share count held by hedge funds has moved for IVV. We found that between these two periods, funds increased their holdings by 12,503,125 shares in the aggregate, from 287,663,713 up to 300,166,838 for a share count increase of approximately 4.35%. The overall top...
Tenable Holdings ( TENB ) shares rise after its director bought 12,000 shares of the cybersecurity company. As per a filing , director Arthur Coviello, Jr. bought the shares at $21.47 - $21.51 worth about $258K. Shares of the Columbia, Maryland-based company, which specializes in exposure management, were trading over 5% at $23.01 on Tuesday morning. More on Tenable Holdings Tenable: Deep Value At...
Tenable Holdings ( TENB ) shares rise after its director bought 12,000 shares of the cybersecurity company. As per a filing , director Arthur Coviello, Jr. bought the shares at $21.47 - $21.51 worth about $258K. Shares of the Columbia, Maryland-based company, which specializes in exposure management, were trading over 5% at $23.01 on Tuesday morning. More on Tenable Holdings Tenable: Deep Value At 12x P/E Despite Consistent Growth And Recurring Revenue Deals Tenable outlines 2026 revenue target exceeding $1B amid rising AI security demand and platform adoption Tenable jumps after Q4 revenue climbs 11%
Image source: The Motley Fool. Tuesday, Feb. 10, 2026 at 8:30 a.m. ET CALL PARTICIPANTS Chief Executive Officer — Chris Cocks Chief Financial Officer and Chief Operating Officer — Gina Goetter Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Net Revenue (Q4) -- $1.5 billion, up 31% year over year, with growth from both main segments. -- $1.5 billion, up 31% year over year...
Image source: The Motley Fool. Tuesday, Feb. 10, 2026 at 8:30 a.m. ET CALL PARTICIPANTS Chief Executive Officer — Chris Cocks Chief Financial Officer and Chief Operating Officer — Gina Goetter Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Net Revenue (Q4) -- $1.5 billion, up 31% year over year, with growth from both main segments. -- $1.5 billion, up 31% year over year, with growth from both main segments. Adjusted Operating Profit (Q4) -- $315 million, up 180%, resulting in a 21.8% operating margin. -- $315 million, up 180%, resulting in a 21.8% operating margin. Adjusted EPS (Q4) -- $1.51, reflecting accelerating momentum. -- $1.51, reflecting accelerating momentum. Net Revenue (Full Year) -- $4.7 billion, up 14%, led by Wizards of the Coast and portfolio progress. -- $4.7 billion, up 14%, led by Wizards of the Coast and portfolio progress. Adjusted Operating Profit (Full Year) -- $1.1 billion, up 36%; adjusted operating margin 24.2%, an increase of nearly 400 basis points. -- $1.1 billion, up 36%; adjusted operating margin 24.2%, an increase of nearly 400 basis points. Adjusted EPS (Full Year) -- $5.54. -- $5.54. Wizards Segment Revenue (Q4) -- $630 million, up 86%, driven by Magic (up 141% from Avatar the Last Airbender and Final Fantasy sets). -- $630 million, up 86%, driven by Magic (up 141% from Avatar the Last Airbender and Final Fantasy sets). Wizards Operating Profit (Q4) -- $284 million; margin 45%. -- $284 million; margin 45%. Wizards Segment Revenue (Full Year) -- $2.2 billion, up 45%, with Magic revenue up nearly 60%. -- $2.2 billion, up 45%, with Magic revenue up nearly 60%. Wizards Operating Profit (Full Year) -- Just over $1 billion, margin 46%. -- Just over $1 billion, margin 46%. Consumer Products Revenue (Q4) -- $800 million, up 7%, led by Hasbro Gaming and Marvel. -- $800 million, up 7%, led by Hasbro Gaming and Marvel. Consumer Products Operating Profit (Q4) -- $54 million, improved by mix and promotional discipline...
Image source: The Motley Fool. Tuesday, Feb. 10, 2026 at 9 a.m. ET CALL PARTICIPANTS Chairman and Chief Executive Officer — Arthur Penn Chief Financial Officer — Richard Allorto TAKEAWAYS Core Net Investment Income -- $0.27 per share for the period, as reported by management. -- $0.27 per share for the period, as reported by management. PSSL2 Joint Venture Launch -- $197 million invested during th...
Image source: The Motley Fool. Tuesday, Feb. 10, 2026 at 9 a.m. ET CALL PARTICIPANTS Chairman and Chief Executive Officer — Arthur Penn Chief Financial Officer — Richard Allorto TAKEAWAYS Core Net Investment Income -- $0.27 per share for the period, as reported by management. -- $0.27 per share for the period, as reported by management. PSSL2 Joint Venture Launch -- $197 million invested during the period, with an additional $133 million invested after quarter end, totaling $326 million; management disclosed a $100 million increase to the credit facility, now totaling $250 million, with an accordion feature allowing expansion to $350 million. -- $197 million invested during the period, with an additional $133 million invested after quarter end, totaling $326 million; management disclosed a $100 million increase to the credit facility, now totaling $250 million, with an accordion feature allowing expansion to $350 million. Net Asset Value (NAV) -- $10.49 per share, down 3.1% from the prior period NAV of $10.83. -- $10.49 per share, down 3.1% from the prior period NAV of $10.83. Debt-to-Equity Ratio -- 1.57x at period end, with a subsequent reduction to 1.5x after portfolio sales, maintaining a target range between 1.4x and 1.6x. -- 1.57x at period end, with a subsequent reduction to 1.5x after portfolio sales, maintaining a target range between 1.4x and 1.6x. Non‑Accrual Investments -- Four non-accrual investments equal to 0.5% of portfolio cost and 0.1% of market value at period end. -- Four non-accrual investments equal to 0.5% of portfolio cost and 0.1% of market value at period end. Portfolio Yield -- Weighted average yield on debt investments was 9.9%; approximately 99% of the debt portfolio is floating rate. -- Weighted average yield on debt investments was 9.9%; approximately 99% of the debt portfolio is floating rate. Interest Income Composition -- Payment‑in‑kind (PIK) interest represented 2.5% of total interest income, among the lowest in the industry accor...
FilippoBacci Wall Street’s major market averages search for direction on Tuesday as investors digest the latest round of retail sales data. The tech-focused Nasdaq Composite ( COMP:IND ) was last down by -0.2%. At the same time, the benchmark S&P 500 ( SP500 ) was near flat, and the blue-chip Dow ( DJI ) was +0.3%. From a sector standpoint, seven of the S&P 500’s 11 segments were in positive tradi...
FilippoBacci Wall Street’s major market averages search for direction on Tuesday as investors digest the latest round of retail sales data. The tech-focused Nasdaq Composite ( COMP:IND ) was last down by -0.2%. At the same time, the benchmark S&P 500 ( SP500 ) was near flat, and the blue-chip Dow ( DJI ) was +0.3%. From a sector standpoint, seven of the S&P 500’s 11 segments were in positive trading territory, with consumer discretionary at the top. Going the other way, consumer staples were the weakest. U.S. Treasury yields slipped across the curve. The benchmark 10-year Treasury yield ( US10Y ) fell 5 basis points to 4.15%, while the 2-year yield ( US2Y ) declined 3 basis points to 3.45%. The 30-year yield ( US30Y ) dropped 5 basis points to 4.79%. On the economic calendar, U.S. retail sales held at $735.0B in December, unchanged from November, missing the +0.4% consensus and slowing from the prior 0.6% M/M growth, according to data released by the U.S. Census Bureau on Tuesday. As for stocks that were on the move, shares of Datadog ( DDOG ) were higher by 10.2%, and shares of S&P Global ( SPGI ) came down by 8.7%. More on markets Recession odds fade according to prediction markets Cantor Fitzgerald sees bitcoin washout setting the stage for a stronger rebound China Treasury fears resurface, but the data shows its grip on U.S. debt Is fading Magnificent 7 in overdrive: ProShares seeks approval for new 3X leveraged ETF Prediction markets speak: See which stocks are favored to miss earnings this week
watch now VIDEO 8:02 08:02 Strategy's Michael Saylor: We won't be selling bitcoin, we'll be buying 'every quarter forever' Squawk Box Strategy CEO Michael Saylor brushed off concerns about the company's credit risk if bitcoin continues to tumble. In fact, Saylor said he plans to keep accumulating the cryptocurrency for the company every quarter. "If bitcoin falls 90% for the next four years, we'll...
watch now VIDEO 8:02 08:02 Strategy's Michael Saylor: We won't be selling bitcoin, we'll be buying 'every quarter forever' Squawk Box Strategy CEO Michael Saylor brushed off concerns about the company's credit risk if bitcoin continues to tumble. In fact, Saylor said he plans to keep accumulating the cryptocurrency for the company every quarter. "If bitcoin falls 90% for the next four years, we'll refinance the debt," the executive said Tuesday on CNBC's "Squawk Box. " "We'll just roll it forward." Asked whether he believed banks would continue to lend to the digital asset treasury firm if bitcoin collapses, Saylor said, "Yeah, because the volatility of bitcoin is such that it's always going to be a value." Bitcoin was last trading at $68,970.45, down 9% over the past five days. It has retreated as investors broadly reassess its utility, with the token tumbling 15% to $60,062.00 on Thursday — its lowest level in roughly 16 months. At its trough, the crypto was down more than 50% from its record. Strategy has more than $8 billion in total debt on its balance sheet, in part due to its issuance of convertible notes used to buy bitcoin. The executive also dismissed suggestions that Strategy would sell any of its digital asset holdings: "I expect we'll be buying bitcoin every quarter forever," Saylor said. Stock Chart Icon Stock chart icon Strategy, 1 year Strategy holds 714,644 bitcoins worth about $49 billion as of writing time, per its website . That makes it the largest corporate owner of the digital asset. Saylor noted his firm has two-and-a-half years worth of cash on its balance sheet to cover dividends. Strategy shed about 2% on Tuesday as bitcoin broke below $70,000 again. The stock has tumbled more than 40% over the past three months.
↘️ BP (UK:BP, BP): The global energy company suspended its quarterly share buyback and stepped up plans to cut costs. Shares slid 6.5% in London. ↗️ TSMC (TW:2330, TSM): The world's largest contract chip maker posted its highest monthly revenue ever.
↘️ BP (UK:BP, BP): The global energy company suspended its quarterly share buyback and stepped up plans to cut costs. Shares slid 6.5% in London. ↗️ TSMC (TW:2330, TSM): The world's largest contract chip maker posted its highest monthly revenue ever.
Vertigo3d/iStock via Getty Images Bitcoin’s paper market When people say “paper Bitcoin,” they usually mean financial exposure to BTC that isn’t the coin itself: futures, perpetual swaps, options, structured products, and sometimes synthetic claims inside exchanges. None of this is inherently “bad.” It’s how big markets add liquidity and let hedgers manage risk. But it changes how price moves , be...
Vertigo3d/iStock via Getty Images Bitcoin’s paper market When people say “paper Bitcoin,” they usually mean financial exposure to BTC that isn’t the coin itself: futures, perpetual swaps, options, structured products, and sometimes synthetic claims inside exchanges. None of this is inherently “bad.” It’s how big markets add liquidity and let hedgers manage risk. But it changes how price moves , because price discovery often happens in derivatives first, and spot follows. There are three big mechanisms to understand: 1. Futures/perps set the marginal price If the most aggressive buying/selling is happening in perps/futures, the tape you see is mostly the derivatives market. Spot liquidity is thinner than people think, especially outside peak hours. So a relatively smaller amount of leveraged flow can move the headline price. 2. Leverage creates forced buyers and forced sellers In spot, you can only sell what you have. In derivatives, you can sell a lot with margin. That creates cascades: when price moves, exchanges liquidate the weak side, turning a move into a forced move. 3. Options dealers hedge dynamically (gamma) Options aren’t just “bets.” Dealers hedge their risk by buying/selling the underlying as price moves. That hedging can dampen moves in some regimes and amplify them in others. How “paper” can push price down A) Aggressive shorting in futures/perps A big short can hit perps/futures, push price below key levels, and trigger: stop-losses on spot long liquidations on perps (forced selling) risk-off de-leveraging from systematic traders Even if underlying spot demand exists, it can get steamrolled temporarily because forced selling is mechanical, not discretionary. B) Liquidation cascades (the waterfall) This is the classic “violent BTC dump” pattern: Price dips → leveraged longs hit maintenance margin Exchanges liquidate them → market sells increase Price dips more → triggers the next layer of liquidations Rinse-repeat until leverage is flushed This is why ...
Just three weeks after Taiwan Semiconductor Manufacturing (NYSE:TSM) delivered fourth-quarter results that beat estimates and reaffirmed the durability of AI demand, the world’s leading contract chip manufacturer reported January revenue of NT$401.3 billion ($12.7 billion), representing a 37% year-over-year increase that handily exceeded analyst expectations. Coming on the heels of a record Q4 and...
Just three weeks after Taiwan Semiconductor Manufacturing (NYSE:TSM) delivered fourth-quarter results that beat estimates and reaffirmed the durability of AI demand, the world’s leading contract chip manufacturer reported January revenue of NT$401.3 billion ($12.7 billion), representing a 37% year-over-year increase that handily exceeded analyst expectations. Coming on the heels of a record Q4 and full-year ... Taiwan Semiconductor’s January Sales Show the AI Tsunami Is Still Growing
US To Fund Free Speech Initiatives In Europe, Trump Official Reveals Authored by Kimberley Hayek via The Epoch Times, The Trump administration announced plans to direct funding toward promoting free speech in Western allied democracies, a senior State Department official said on Monday. The initiative bolsters efforts to counter European online regulations categorized by Washington as censorship. ...
US To Fund Free Speech Initiatives In Europe, Trump Official Reveals Authored by Kimberley Hayek via The Epoch Times, The Trump administration announced plans to direct funding toward promoting free speech in Western allied democracies, a senior State Department official said on Monday. The initiative bolsters efforts to counter European online regulations categorized by Washington as censorship. Under Secretary of State for Public Diplomacy Sarah Rogers discussed the initiative during a trip to Europe. It includes grants to support free expression, a result of concerns about rules such as the European Union’s Digital Services Act and Britain’s Online Safety Act. These laws, which E.U. officials say aim to deter hate speech and misinformation, have been scrutinized by U.S. officials as restricting the free speech of American tech firms and suppressing immigration policy critiques. “One way my office is going to operate differently is we’re going to be very forthright and transparent about everything we do,” Rogers said during a panel discussion in Budapest on Monday. She added that her role allows directing U.S. funding through grants, stating, “I want to promote free speech in Western allied democracies, and ... that’s what my grantmaking is going to be doing.” Rogers, appearing alongside a top aide to Hungarian Prime Minister Viktor Orbán, underscored the importance of free speech for democracy. “The United States government, via me, but not only me, has been engaging aggressively on the issue of free speech, because you don’t have self-governance without freedom of speech, you can’t have a democratic deliberation if viewpoints are proscribed from the public square,” she said. Rogers is scheduled to stop in Dublin, Budapest, Warsaw, and Munich to discuss digital freedoms with officials and others. The administration’s December National Security Strategy said that European leaders were censoring speech and suppressing opposition to immigration policies, warning of ...