Sean Pavone/iStock via Getty Images Back in January, I called Phoenix Education Partners ( PXED ) dirt cheap post-IPO and said the market would re-rate it more like an asset-light for-profit ed name. But there was one thing in the way. Actually, two. One, the low float, just ~5 million shares post-IPO. Two, the Apollo ( APO ) and Vistria overhang. And that’s not exactly a ‘little’ overhang, but mo...
Sean Pavone/iStock via Getty Images Back in January, I called Phoenix Education Partners ( PXED ) dirt cheap post-IPO and said the market would re-rate it more like an asset-light for-profit ed name. But there was one thing in the way. Actually, two. One, the low float, just ~5 million shares post-IPO. Two, the Apollo ( APO ) and Vistria overhang. And that’s not exactly a ‘little’ overhang, but more like a big one. Despite selling part of their holding company in the IPO , they both hold almost 84% of all shares (~30 million shares together) and will continue selling them as part of their exit strategy. Nothing you can really do here. Seeking Alpha The overhang isn’t going anywhere. I said before, this ‘Buy’ is only for those who can stomach it and still see the value in this cash cow. My call here has returned just over -3% since my last article. It underperformed the S&P, and the stock even attempted a rally in yesterday's post-earnings session, but it didn't go very far. Well, but if results came in strong with a double-beat , why is the stock falling? A couple of guesses here, but the main one is Apollo and Vistria likely sold into the move near ~$32. Seeking Alpha That makes sense. If you assume Phoenix already reflects the post-turnaround dilution, you're looking at just over ~$30.50 per share (36 million shares on a $1.1 billion valuation). Of course, I imagine they would prefer to sell at a higher price later on. Perhaps after the re-rating. But I wouldn't rule out them selling closer to cost after collecting dividends for almost eight years. They certainly didn't end up in the red on this one. Another thing that came to my mind is whether Vistria has already exited its ~14% stake (almost 5 million shares), since it no longer appears as an institutional holder on Nasdaq . Note that Vistria is not listed among the Institutional Holders on Nasdaq for PXED (Nasdaq) On some sites, Vistria is still listed as the second-largest shareholder. Market Screener In any ...
French President Emmanuel Macron has invited US President Donald Trump to a sumptuous dinner at the ornate Palace of Versailles the day after a G7 summit in mid-June, although it remains unclear if Trump will attend either event, sources said. France is the host of this year’s G7, with a leaders’ summit in the lakeside resort of Evian-les-Bains at the foot of the French Alps scheduled for June...
French President Emmanuel Macron has invited US President Donald Trump to a sumptuous dinner at the ornate Palace of Versailles the day after a G7 summit in mid-June, although it remains unclear if Trump will attend either event, sources said. France is the host of this year’s G7, with a leaders’ summit in the lakeside resort of Evian-les-Bains at the foot of the French Alps scheduled for June 15-17 – dates that Macron has already moved to accommodate a mixed martial arts event Trump is...
(RTTNews) - Specs Inc., a Snap (SNAP) subsidiary, and Qualcomm Technologies announced a multi-year strategic agreement to power future generations of Specs with Qualcomm Technologies' Snapdragon system-on-a-chip. This is the first flagship engagement for Specs Inc., which is laun
(RTTNews) - Specs Inc., a Snap (SNAP) subsidiary, and Qualcomm Technologies announced a multi-year strategic agreement to power future generations of Specs with Qualcomm Technologies' Snapdragon system-on-a-chip. This is the first flagship engagement for Specs Inc., which is laun
William Barton/iStock Editorial via Getty Images Hong Kong has granted stablecoin issuer licenses to HSBC Holdings ( HSBC ) ( HBCYF ) and Anchorpoint Financial, effective today. Anchorpoint Financial is a Hong Kong-based joint venture between Standard Chartered ( SCBFF ) ( SCBFY ), HKT, and Animoca Brands. HSBC and Anchorpoint Financial are the first entities to be granted the license in Hong Kong...
William Barton/iStock Editorial via Getty Images Hong Kong has granted stablecoin issuer licenses to HSBC Holdings ( HSBC ) ( HBCYF ) and Anchorpoint Financial, effective today. Anchorpoint Financial is a Hong Kong-based joint venture between Standard Chartered ( SCBFF ) ( SCBFY ), HKT, and Animoca Brands. HSBC and Anchorpoint Financial are the first entities to be granted the license in Hong Kong. The two companies intend to complete the necessary preparation work and launch business in the coming few months. More on HSBC Holdings HSBC Holdings plc (HSBC) Presents at European Financials Conference 2026 Transcript HSBC Remains A 'Hold' Following Its 2025 Earnings HSBC Holdings plc (HSBC) Q4 2025 Earnings Call Transcript HSBC reportedly mulls deep job cuts from multiyear AI-fueled overhaul
Hong Kong’s largest public hospital will open to patients in phases from October, with the new 2,400-bed facility in Kai Tak set to take over the services of Queen Elizabeth Hospital and become a healthcare hub for Kowloon. The Hospital Authority said on Friday that the first phase of services at Kai Tak Hospital, located on Shing Cheong Road in Kowloon Bay, would start in October. The new facilit...
Hong Kong’s largest public hospital will open to patients in phases from October, with the new 2,400-bed facility in Kai Tak set to take over the services of Queen Elizabeth Hospital and become a healthcare hub for Kowloon. The Hospital Authority said on Friday that the first phase of services at Kai Tak Hospital, located on Shing Cheong Road in Kowloon Bay, would start in October. The new facility has a total gross floor area of 500,000 square metres, the largest among the city’s public...
Amaero ( AMROF ) on Friday said it has entered a master purchasing agreement that includes a purchase order worth A$7.8 million for titanium alloy powders. The company said the agreement includes a minimum commitment to supply equal quarterly shipments from July 2026 through June 2027. Amaero said the customer may increase orders beyond the minimum commitment through additional purchase orders. Th...
Amaero ( AMROF ) on Friday said it has entered a master purchasing agreement that includes a purchase order worth A$7.8 million for titanium alloy powders. The company said the agreement includes a minimum commitment to supply equal quarterly shipments from July 2026 through June 2027. Amaero said the customer may increase orders beyond the minimum commitment through additional purchase orders. The company added it expects production capacity for titanium alloy powders to increase in fiscal 2027 as demand for additive manufacturing materials grows across defense, aerospace, and other sectors. AMROF closed -0.09% at $0.222. Source: Press Release More on Amaero Ltd Historical earnings data for Amaero Ltd Financial information for Amaero Ltd
JHVEPhoto/iStock Editorial via Getty Images With a multiple of 6.5x adjusted earnings for this FY26 , we have the giant General Motors ( GM ) at a valuation that still reminds us of that cyclical automobile manufacturer exposed both to a deteriorating China and to tariffs. Now then, the hypothesis I want to propose is different, since in my opinion, we are looking at a company that is in the proce...
JHVEPhoto/iStock Editorial via Getty Images With a multiple of 6.5x adjusted earnings for this FY26 , we have the giant General Motors ( GM ) at a valuation that still reminds us of that cyclical automobile manufacturer exposed both to a deteriorating China and to tariffs. Now then, the hypothesis I want to propose is different, since in my opinion, we are looking at a company that is in the process of becoming a car with two engines. The first engine is clear to all of us with the automotive business, providing that solidity and cash generation, but the other, perhaps not so well known by the general public, is the software and services vertical with $2,700M in revenue and margins of 70% . Data by YCharts I also want to check whether the current risks are still weighing on the stock price, such as the extraordinary charges from the EV withdrawal and China , as well as the tariff headwind. Is it possible that we are facing a divergence? Reading The Macro Board First, I am going to take a look at the playing field, and I am going to start with the American market. We have that by the close of Q1 of this 2026, new vehicles have closed at a SAAR of around 15.5M and 15.7M units, something that is below the 16.3M of 2025. Although for me this has a nuance, which is that consumers pulled forward purchases ahead of the implementation of tariffs, and the consensus points to a normalization for the full year at around 16M . So the market, at first glance, does not show signs of collapse, which is always a good sign. Then we also have affordability, which I do see as a more relevant pressure factor, since the average monthly payment for a new vehicle is close to $722 , with financing rates at 7% over 60 months. This situation is leading to delinquencies in auto credit of more than 90 days, reaching 5.2% in the last quarter of 2025, thus bringing this level to one of the highest since 2010. So taking into account that the Fed keeps rates in the range of 3.50% and 3.75%, and it...
The U.S. core Consumer Price Index increased 0.2% M/M in March, just under the +0.3% consensus and running at the same pace (+0.2%) as in February, according to data released by the Bureau of Labor Statistics on Friday. On a year-over-year basis, core CPI, which excludes food and energy, rose 2.6% Y/Y, less than the +2.7% consensus but accelerating from +2.5% in the prior month. The print undersco...
The U.S. core Consumer Price Index increased 0.2% M/M in March, just under the +0.3% consensus and running at the same pace (+0.2%) as in February, according to data released by the Bureau of Labor Statistics on Friday. On a year-over-year basis, core CPI, which excludes food and energy, rose 2.6% Y/Y, less than the +2.7% consensus but accelerating from +2.5% in the prior month. The print underscores the difficulty that the Federal Reserve has had in lowering inflation to its 2% target. The Fed prefers to use the core PCE t o gauge underlying inflation trends. That's in contrast to the headline inflation numbers, which can swing from month to month on volatile food and energy prices. And indeed, energy prices soared in March with the outbreak of war in the Middle East. Headline CPI, including food and energy prices, climbed 0.9% M/M in March, compared with the +0.9% consensus and +0.3% in February. The index for energy drove the increase, jumping 10.9%. Within the energy sector, gasoline surged 21.2%, accounting for three-quarters of the monthly all-items increase, the BLS said. That came to a 3.3% increase Y/Y, still under the +3.4% consensus but a significant acceleration from +2.4% in February. Developing… Check back for updates. More on the US Economy Oil Shock: Will The Fed Intervene (Part 2) Further inflation spikes are likely as Middle East conflict does not reach resolution New York Fed's Williams sees core inflation remaining at ~2.5% this year, despite oil price surge