Unity ( NYSE: U ) shares rose about 9% in premarket trading on Wednesday after the company said it had extended a multi-year agreement with Meta ( META ) to support development on its virtual reality platform. Unity and Meta said the renewed partnership builds on their existing collaboration, with Unity continuing to provide tools and platform support for developers creating applications and games...
Unity ( NYSE: U ) shares rose about 9% in premarket trading on Wednesday after the company said it had extended a multi-year agreement with Meta ( META ) to support development on its virtual reality platform. Unity and Meta said the renewed partnership builds on their existing collaboration, with Unity continuing to provide tools and platform support for developers creating applications and games for Meta’s VR ecosystem. The companies said the partnership aims to simplify the process for developers to create, deploy and scale content on Meta’s VR devices, spanning both gaming and business applications. Unity said its engine powers a majority of top-selling VR titles on Meta’s platform, while Meta said the agreement supports ongoing investment in its developer ecosystem. Financial terms of the agreement were not disclosed. More on Unity Software Inc Unity: Upgrade To Strong Buy On Excellent Preliminary Q1 Results Unity: High SBC And A Looming AI Threat, Sell Unity Software: The Valuation Reset I've Been Waiting For Unity Software soars as it says preliminary Q1 guidance will top estimates SA analyst upgrades/downgrades: TSLA, U, GDDY, RAIL
spawns/iStock via Getty Images Investment Overview I wrote about ADT Inc. ( ADT ) previously with a hold rating, as the underlying fundamentals were not holding up well. For instance, customer retention was soft, dealer volumes were weak, and also the State Farm catalyst was not playing out as I expected. The slowdown I was worried about has now shown up in the reported numbers, and the FY2026 gui...
spawns/iStock via Getty Images Investment Overview I wrote about ADT Inc. ( ADT ) previously with a hold rating, as the underlying fundamentals were not holding up well. For instance, customer retention was soft, dealer volumes were weak, and also the State Farm catalyst was not playing out as I expected. The slowdown I was worried about has now shown up in the reported numbers, and the FY2026 guide suggests the near-term earnings bridge is still messy. That said, I am not ready to turn bearish because ADT is still generating strong cash, holding healthy margins, and has enough financial flexibility to keep investing while returning capital to shareholders. The Slowdown Happened as Expected I had a cautious view on ADT in my previous update because the underlying operating metrics were not painting a picture of growth. While total revenue still grew 7% y/y to $1.287 billion , and adj. EBITDA grew 7%, churn had already moved up to 12.8% (20 bps sequential increase), and the pace of State Farm ramp was not great. Turns out, I was right. For those that missed the Q4 earnings numbers, here are some data for reference. Revenue growth slowed sharply, from 7% in Q2 2025 to just 1.3% y/y in Q4 2025 . Security Installation and Other did continue to grow, but the pace of growth slowed from 44% in Q2 to just 10% in Q4. The FY2026 guide did not help to ease concerns regarding this slowdown either. As a recap , management guided flat revenue and flat adj. EPS growth for FY26, but they also guided for churn to worsen to 13.1%, and the bridge to this is not great. Specifically, the multifamily divestiture reduced 4Q recurring monthly revenue [RMR] by $2.6 million, or ~$30 million on an annualized basis. On top of that, there are $50 million of added growth investments and a $45 million tariff headwind. As you can see, this is not one clean issue with one clean fix. It seems to me part of the drag is structural, part of it comes from management choosing to invest harder, and part o...
Theeraphat Uamduang/iStock via Getty Images Broadcom Overview As highlighted in prior research, Broadcom Inc. ( AVGO ) had a booming AI business, making the stock attractive if traded back in line with expectations. The big key was that the AI chip business was a small part of total sales, but now the combination of the surging AI XPU boom and the dip in the stock price has made the stock far more...
Theeraphat Uamduang/iStock via Getty Images Broadcom Overview As highlighted in prior research, Broadcom Inc. ( AVGO ) had a booming AI business, making the stock attractive if traded back in line with expectations. The big key was that the AI chip business was a small part of total sales, but now the combination of the surging AI XPU boom and the dip in the stock price has made the stock far more appealing. My investment thesis is now ultra Bullish on the semiconductor stock, recently down $100 from the highs. Source: Finviz Riding Anthropic Boom Broadcom famously announced a plan for their AI business to reach $100 billion in annual revenues in FY27. The company had previously targeted a $60 to $70 billion AI business, and custom AI chip demand has been off the charts with 6 prime customers, including Anthropic ( ANTHRO ) and Google ( GOOG ). The chip company just announced an expanded deal with both Anthropic and Google to produce Tensor Processing Units, or TPUs. Broadcom already had a contract for multi-GWs, and the expanded deal is for 3.5 GW of TPUs starting in 2027. Anthropic seems to hedge the deal with a requirement for continued commercial success. The generative AI company just announced revenues reaching a $30 billion ARR, up from only $9 billion a quarter ago at the end of 2025. The AI company has the hot Claude models, but one can never guarantee where AI demand will be at next year. OpenAI ( OPENAI ) dominated the initial years of genAI with the launch of ChatGPT, but Anthropic has potentially already passed the ARR of OpenAI. Broadcom already had a goal of reaching $100 billion in AI chip revenues in FY27, and this deal is unclear on the additional revenue potential, if any. The company forecasts AI networking sales to reach 40% of total AI revenues, and these chip deals are massive. On the FQ1'26 earnings call just a month ago, Broadcom CEO Hock Tan highlighted the prior Google and Anthropic deals as follows: The ramp of custom AI accelerators acro...
Theeraphat Uamduang/iStock via Getty Images Broadcom Overview As highlighted in prior research, Broadcom Inc. ( AVGO ) had a booming AI business, making the stock attractive if traded back in line with expectations. The big key was that the AI chip business was a small part of total sales, but now the combination of the surging AI XPU boom and the dip in the stock price has made the stock far more...
Theeraphat Uamduang/iStock via Getty Images Broadcom Overview As highlighted in prior research, Broadcom Inc. ( AVGO ) had a booming AI business, making the stock attractive if traded back in line with expectations. The big key was that the AI chip business was a small part of total sales, but now the combination of the surging AI XPU boom and the dip in the stock price has made the stock far more appealing. My investment thesis is now ultra Bullish on the semiconductor stock, recently down $100 from the highs. Source: Finviz Riding Anthropic Boom Broadcom famously announced a plan for their AI business to reach $100 billion in annual revenues in FY27. The company had previously targeted a $60 to $70 billion AI business, and custom AI chip demand has been off the charts with 6 prime customers, including Anthropic ( ANTHRO ) and Google ( GOOG ). The chip company just announced an expanded deal with both Anthropic and Google to produce Tensor Processing Units, or TPUs. Broadcom already had a contract for multi-GWs, and the expanded deal is for 3.5 GW of TPUs starting in 2027. Anthropic seems to hedge the deal with a requirement for continued commercial success. The generative AI company just announced revenues reaching a $30 billion ARR, up from only $9 billion a quarter ago at the end of 2025. The AI company has the hot Claude models, but one can never guarantee where AI demand will be at next year. OpenAI ( OPENAI ) dominated the initial years of genAI with the launch of ChatGPT, but Anthropic has potentially already passed the ARR of OpenAI. Broadcom already had a goal of reaching $100 billion in AI chip revenues in FY27, and this deal is unclear on the additional revenue potential, if any. The company forecasts AI networking sales to reach 40% of total AI revenues, and these chip deals are massive. On the FQ1'26 earnings call just a month ago, Broadcom CEO Hock Tan highlighted the prior Google and Anthropic deals as follows: The ramp of custom AI accelerators acro...
cokada/E+ via Getty Images Risk appetites have been excited by the two-week ceasefire in the Middle East. Stocks and bonds have rallied strongly. The precious metals are higher. May WTI is off more than 15%. June Brent is about 13% lower. The US dollar ( DXY ) is weaker against all the G10 and emerging market currencies that are trading. The ceasefire is overwhelming other developments, including ...
cokada/E+ via Getty Images Risk appetites have been excited by the two-week ceasefire in the Middle East. Stocks and bonds have rallied strongly. The precious metals are higher. May WTI is off more than 15%. June Brent is about 13% lower. The US dollar ( DXY ) is weaker against all the G10 and emerging market currencies that are trading. The ceasefire is overwhelming other developments, including the central banks in New Zealand and India standing pat. Global investors have responded to the news, and that may leave North American participants in an awkward position. They will be greeted with large moves and may be reluctant to substantially extend the moves without seeing further developments. Prices G10 • Hope of a last-minute deal helped lift the euro to $1.1605 in North America yesterday, a three-day high. When the two-week ceasefire was announced, the euro soared a little through $1.1690 in thin trading and then made a new high in late Asia Pacific turnover near $1.1710. It pushed above the 200-day moving average (~$1.1675) for the first time since March 2. It also met the (38.2%) retracement of the losses since the high was reached in late January (~$1.2080 near $1.1665). The next retracement is near $1.1745. • The dollar edged higher against the Japanese yen yesterday and traded briefly and barely above JPY160 for the first time in six sessions. Options for $1.1 bln expire there today. When the ceasefire was announced, the dollar was sold to JPY158.55 and then made a secondary low below last week’s low (~JPY58.30) to approach JPY158, where options for $600 mln expire today. A convincing break could see JPY157.35. • Sterling rose to a three-day high to poke above $1.3300. The ceasefire announcement saw it surge to almost $1.3410. The gains were extended to $1.3445 to rise above the 200-day moving average (~$1.3415). The $1.3430 area represents the (38.2%) retracement target of the slide since the multiyear high was recovered in late January (~$1.3870). The next...
China on Wednesday welcomed a newly announced ceasefire between the U.S. and Iran, endorsing mediation efforts by Pakistan and other nations to end a conflict that has shaken the Middle East. Foreign Ministry spokesperson Mao Ning said during a regular press briefing that Beijing has consistently supported an immediate end to hostilities. “We have always advocated for a cease-fire and an end to th...
China on Wednesday welcomed a newly announced ceasefire between the U.S. and Iran, endorsing mediation efforts by Pakistan and other nations to end a conflict that has shaken the Middle East. Foreign Ministry spokesperson Mao Ning said during a regular press briefing that Beijing has consistently supported an immediate end to hostilities. “We have always advocated for a cease-fire and an end to the war as soon as possible, resolving disputes through political and diplomatic channels, and ultimately realizing long-term peace and stability in the Middle East and the Gulf region,” Mao said, adding that China has made its own efforts toward this goal.
(RTTNews) - Canadian stocks look set to open with a strong positive gap on Wednesday thanks to the U.S. and Iran agreeing to a two-week ceasefire to ensure stability in the critical energy corridor in the Gulf.
(RTTNews) - Canadian stocks look set to open with a strong positive gap on Wednesday thanks to the U.S. and Iran agreeing to a two-week ceasefire to ensure stability in the critical energy corridor in the Gulf.
Morgan Stanley is set to become the first Wall Street bank to launch its own Bitcoin-tracking exchange-traded fund , a milestone for the digital-asset ecosystem that underscores how deeply the original cryptocurrency has embedded itself in the financial mainstream — even as the market around it has cooled. The New York–based firm plans to debut the Morgan Stanley Bitcoin Trust on NYSE Arca under t...
Morgan Stanley is set to become the first Wall Street bank to launch its own Bitcoin-tracking exchange-traded fund , a milestone for the digital-asset ecosystem that underscores how deeply the original cryptocurrency has embedded itself in the financial mainstream — even as the market around it has cooled. The New York–based firm plans to debut the Morgan Stanley Bitcoin Trust on NYSE Arca under the ticker MSBT Wednesday. It will join more than 10 spot-Bitcoin ETFs that launched over the past two years and collectively command over $85 billion in assets. Despite being a late entrant to an increasingly crowded field, it’s leaning on a classic Wall Street playbook: competing on fees and scale. With an expense ratio of 14 basis points, MSBT would be the cheapest fund in the category, undercutting Grayscale Investments Inc. ’s BTC by 1 basis point and BlackRock Inc. ’s IBIT by 11 basis points. The latter currently dominates the market, accounting for roughly 60% of total assets. “We really wanted to show our commitment by having that lower fee,” Allyson Wallace , global head of ETFs at Morgan Stanley Investment Management, said in an interview. “The demand, especially from the high-net-worth investors, has been quite high. Viewed at the firm level, this is an asset class that is not going away.” The launch underscores a broader shift in the Bitcoin market, where large institutions have become increasingly influential in driving trading volumes and shaping flows. Hedge funds, banks and other large investors are not only allocating to Bitcoin ETFs to meet client demand but are also using them as trading instruments. Since the debut of spot-crypto ETFs, regulatory filings consistently showed hedge funds, endowments and even government entities worldwide building exposure. Eric Balchunas of Bloomberg Intelligence said the aggressive fee positioning signals strong demand from financial advisers. Morgan Stanley Wealth Management, which has about 16,000 advisers, recommended i...