Back in February, Valve gave Steam client beta users the option to share anonymized framerate data and hardware information with the company to "help us learn about game compatibility and improve Steam." Now, new text buried in a recent Steam client update suggests Valve is preparing to use this data to power a "framerate estimator" tool in the future. As noted in SteamTracking's automated Steam c...
Back in February, Valve gave Steam client beta users the option to share anonymized framerate data and hardware information with the company to "help us learn about game compatibility and improve Steam." Now, new text buried in a recent Steam client update suggests Valve is preparing to use this data to power a "framerate estimator" tool in the future. As noted in SteamTracking's automated Steam client change notes (and picked up by some forum and social media users), the April 3 Steam client update contains explicit references to a "Framerate Estimator" in a store UI JSON file. A subheader listed in that file describes the ability to "Select an App and a PC config to get a chart of estimated framerates, based on the framerates of other Steam users." Based on the inputs referenced in the JSON data, it looks like generated framerate estimates will be based on CPU, GPU, and system RAM levels selected by the user (or saved as a hardware configuration in the Steam client) rather than any sort of automated system scanning software. Users will be able to see per-game frame rate estimates as well as the "Number of matching training... entries" those estimates are based on for that game and/or the applicable CPU/GPU. Read full article Comments
Chesky_W/iStock via Getty Images Investment Thesis I have been long on Aehr Test Systems ( AEHR ) since the $30s and even with the recent volatility, I remain as bullish if not more bullish now. While I was waiting for the earnings report as the ultimate test of the thesis, what stood out even more was the stock’s reaction ahead of the release, signaling that the trend was already unfolding. As a ...
Chesky_W/iStock via Getty Images Investment Thesis I have been long on Aehr Test Systems ( AEHR ) since the $30s and even with the recent volatility, I remain as bullish if not more bullish now. While I was waiting for the earnings report as the ultimate test of the thesis, what stood out even more was the stock’s reaction ahead of the release, signaling that the trend was already unfolding. As a result, the minor correction after the report was not enough to shake my conviction. The revenue miss doesn’t matter much because demand is clearly accelerating as they secured strong new orders that should show up as revenue soon. Data by YCharts Weak Print, Powerful Signal For those who are not familiar with the company, Aehr Test Systems produces testing equipment for stress testing semiconductor wafers before they can be used. The technique is known as burn-in. Stress testing semiconductors through burn-in reduces the number of defective products. The burn-in testing technology ensures that AI and data center semiconductors are high quality. aehr.com The earnings print appeared to be weak at first glance. However, I believe that focusing on this metric would mean missing out on something bigger here. Specifically, revenues declined by 44% YoY to $10.3 million , slightly missing estimates, whereas gross margin contracted to 36.5%. On face value, this appears to be pretty poor performance. Instead, I focus on demand as bookings rose to $37.2 million, or 6x QoQ, pushing the book-to-bill ratio to above 3.5x, and backlog increased to $38.7 million, with effective backlog growing to $50.9 million, shortly after quarter-end. I see all of the above as critical, especially considering that this is what this business does at its current stage, given the nature of system orders. More importantly, I see the demand-side strength coming from the right areas here, namely from AI processors, hyperscalers and silicon photonics rather than any legacy segments. I don't view this quarter a...
Anas Sarwar says scheme would be part of overhaul of arts funding in Scotland Labour has pledged to spend £30m on giving Scottish artists and musicians a living wage, mirroring a similar scheme in Ireland guaranteeing artists a basic income. Anas Sarwar, the Scottish Labour leader, said the scheme would be part of a deeper shake-up of cultural funding in Scotland by integrating arts and culture in...
Anas Sarwar says scheme would be part of overhaul of arts funding in Scotland Labour has pledged to spend £30m on giving Scottish artists and musicians a living wage, mirroring a similar scheme in Ireland guaranteeing artists a basic income. Anas Sarwar, the Scottish Labour leader, said the scheme would be part of a deeper shake-up of cultural funding in Scotland by integrating arts and culture into the Scottish government’s economic strategies if his party won power in next month’s Holyrood election. Continue reading...
US banks and credit unions may soon be able to use intermediaries to transfer funds through the Federal Reserve ’s real-time payments system, according to a central bank proposal. The plan, which was released by the regulator on Wednesday, would expand the number of US private sector firms that can use the FedNow platform. Currently, a transfer of funds sent through FedNow can include only two US ...
US banks and credit unions may soon be able to use intermediaries to transfer funds through the Federal Reserve ’s real-time payments system, according to a central bank proposal. The plan, which was released by the regulator on Wednesday, would expand the number of US private sector firms that can use the FedNow platform. Currently, a transfer of funds sent through FedNow can include only two US banks. The Fed said the proposal aims to provide lenders with “additional flexibility” in how they transact with other banks to facilitate the international portion of a cross-border payment. The proposal, which is subject to public comment before it can be finalized, comes as the central banks and other financial regulators seek ways to streamline certain functions for banks and eliminate inefficiencies, regulators have said. The payments system known as FedNow debuted in 2023 and was designed to speed up the movement of money among banks around the US.
Nigerian stocks with overseas listings outperformed Wednesday after index provider FTSE Russell said it would allow the country’s equities to return to its frontier-markets benchmark later this year. While Nigeri’s main NGX 30 index rose 0.3%, Airtel Africa Plc which trades in Lagos as well as London, jumped by the maximum daily limit of 10%. Seplat Energy Plc and Guaranty Trust Holdings Co. Plc, ...
Nigerian stocks with overseas listings outperformed Wednesday after index provider FTSE Russell said it would allow the country’s equities to return to its frontier-markets benchmark later this year. While Nigeri’s main NGX 30 index rose 0.3%, Airtel Africa Plc which trades in Lagos as well as London, jumped by the maximum daily limit of 10%. Seplat Energy Plc and Guaranty Trust Holdings Co. Plc, two other dual-listed firms, also rallied, as did Zenith Bank Plc which plans to list in London next year. Such dual-listed firms are expected to be the main beneficiaries of the index reclassification, as overseas investors can access them more easily. They are also some of Nigeria’s biggest companies. Airtel and Guaranty Trust shares rose in London as well, though Seplat slid, hurt by Wednesday’s oil-price slump. Nigeria’s main stock index is up about 30% so far this year, adding to last year’s 51% rally. But the country has languished in FTSE Russell’s Unclassified category since 2023, when it was ejected from the frontier index as severe foreign exchange scarcity hindered foreign investors from repatriating profit. Its return to the frontier index — due Sept. 21 — should allow greater foreign participation, including from passive, benchmark-tracking investors. “Coming back to the frontier market increases demand for the stocks,” considering its visibility to global institutional investors, said Patrick Ejumedia, analyst at Sterling Asset Management Ltd. “Besides that, Airtel is seeing an increase in call and data services from improved broadband and mobile phone access in Nigeria.” However, another index provider MSCI Inc. still classifies Nigeria as a standalone market, having downgraded it in February 2024. It said last June it needed more time to assess the impact of the government’s foreign exchange reforms.
Deagreez/iStock via Getty Images Viridian Overview My last analysis of Viridian Therapeutics ( VRDN ) was way back in September 2023. It came after Phase 1/2 data on its lead asset, VRDN-001, in thyroid eye disease, or TED. I, alongside the market (the stock dropped 20% immediately following the data), was unimpressed. While VRDN-001 led to some reduction in eye protrusion, it didn’t improve diplo...
Deagreez/iStock via Getty Images Viridian Overview My last analysis of Viridian Therapeutics ( VRDN ) was way back in September 2023. It came after Phase 1/2 data on its lead asset, VRDN-001, in thyroid eye disease, or TED. I, alongside the market (the stock dropped 20% immediately following the data), was unimpressed. While VRDN-001 led to some reduction in eye protrusion, it didn’t improve diplopia, or double vision, which is a key feature of TED. Management planned to advance VRDN-001 into a late-stage program. They were also beginning to evaluate a SC anti-IGF-1R and anti-TSHR antibody, VRDN-003. I rated VRDN a “Sell,” hoping for “more compelling clinical efficacy and a clear path to market” before a potential re-rating. Following Phase 3 trial results for elegrobart (formerly VRDN-003) last week, Viridian’s stock has dropped some 50% since. I take another look below. Recent Developments Viridian has actually been hit twice with bad news in the past week. Although the Phase 3 (REVEAL-1) study was technically positive in that it hit statistical significance in the primary endpoint, the market was “ underwhelmed by the overall efficacy profile.” And because Clinical Activity Score failed (p=0.24) in the Q4W arm, every secondary endpoint that followed (i.e., diplopia resolution) was technically only " nominally significant ." The disappointment snowballed on Monday after Amgen ( AMGN ) unveiled Phase 3 results for its SC version of Tepezza, a direct competitor of Viridian’s. For context, Tepezza IV is the first and only FDA-approved medication specifically for TED. It blocks IGF-1R and is highly effective, with an 83% proptosis response rate in OPTIC Study 2 . Author's Compilation Tepezza SC appears to have similar effectiveness to its IV cousin. Mind you, Tepezza IV owns this market, generating $1.9B in FY25 revenue . So, Amgen, a big pharma company, shouldn’t have a problem transitioning existing (and attracting new) TED patients to SC. Of course, Viridian was ho...