Goldman Sachs Group says its private credit fund narrowly escaped a broader exodus due to its reliance on institutional investors. Goldman Sachs Private Credit, which manages a so-called non-traded business development company, met redemption requests in the first quarter amounting to 4.999% of its outstanding shares. That contrasts with peers including Blue Owl Capital that saw redemption request...
Goldman Sachs Group says its private credit fund narrowly escaped a broader exodus due to its reliance on institutional investors. Goldman Sachs Private Credit, which manages a so-called non-traded business development company, met redemption requests in the first quarter amounting to 4.999% of its outstanding shares. That contrasts with peers including Blue Owl Capital that saw redemption requests dramatically higher than an industry-wide 5% limit. Bloomberg's Neil Callanan breaks down the situation. (Source: Bloomberg)
Intel Corp. (NASDAQ:INTC) is one of the 10 best AI chip stocks to buy according to hedge funds. On April 2, Reuters reported that Intel Corp. (NASDAQ:INTC) announced plans for investing an extra $15 million in Samba Nova Systems, a chip startup that is led by the company’s CEO Lip-Bu Tan. This investment will see […]
Intel Corp. (NASDAQ:INTC) is one of the 10 best AI chip stocks to buy according to hedge funds. On April 2, Reuters reported that Intel Corp. (NASDAQ:INTC) announced plans for investing an extra $15 million in Samba Nova Systems, a chip startup that is led by the company’s CEO Lip-Bu Tan. This investment will see […]
After NuScale Power (NYSE: SMR) stock plunged 26.5% in February, investors had high hopes the nuclear energy stock would recover in March. Sadly for them, though, this didn't come to pass for two reasons. For one, NuScale Power reported disappointing fourth-quarter 2025 financial results in late February, which prompted bears to sell NuScale Power stock in the subsequent weeks. Secondly, several f...
After NuScale Power (NYSE: SMR) stock plunged 26.5% in February, investors had high hopes the nuclear energy stock would recover in March. Sadly for them, though, this didn't come to pass for two reasons. For one, NuScale Power reported disappointing fourth-quarter 2025 financial results in late February, which prompted bears to sell NuScale Power stock in the subsequent weeks. Secondly, several firms announced more pessimistic outlooks on NuScale Power stock. These two catalysts proved to be too formidable -- and shares tumbled last month. According to data provided by S&P Global Market Intelligence , shares of NuScale Power dropped 15.6% in March. Image source: Getty Images. Continue reading
Jacob Wackerhausen/iStock via Getty Images Last year, when I reiterated the case for buying Phreesia ( PHR ) , I set my next purchase point conditional on a stock recovery above its 200-day moving average (DMA). That rebound never happened, and the stock delivered a fresh reminder of the importance of technical signals between earnings reports. The market was unhappy with last year’s acquisition o...
Jacob Wackerhausen/iStock via Getty Images Last year, when I reiterated the case for buying Phreesia ( PHR ) , I set my next purchase point conditional on a stock recovery above its 200-day moving average (DMA). That rebound never happened, and the stock delivered a fresh reminder of the importance of technical signals between earnings reports. The market was unhappy with last year’s acquisition of AccessOne, and displeasure accelerated with the stock plunging 26.6% after Q4 2026 earnings. Investors took no solace in the company’s major milestone in achieving full-year positive GAAP net income for the first time. Instead, downwardly revised revenue guidance and looming investments in AccessOne combined to undermine support for the stock. This vote of no confidence will take several quarters or more to repair. In the meantime, I have downgraded the stock from a buy to a hold. PHR is trading at all-time lows after plunging below its previous trading range. (TradingView) Guidance Last year, the company’s guidance was part of my bullish case for the stock. Now, the guidance has helped invalidate the bullish case. Phreesia lowered guidance for fiscal 2027 from a range of $545M to $559M to a range of $510M to $520M, a decline of 6.7% at the midpoint. Since the company has “shorter visibility into spending commitments by certain pharmaceutical manufacturers” and recently suffered “even lower levels of dollars committed by certain Network Solutions clients for the second half of the fiscal year,” I am not expecting upside surprises in the coming year. Network Solutions is Phreesia’s top-ranked grower in the business, followed by payments and then subscriptions. Guidance for total revenue per Average Healthcare Services Client (AHSC) also fell, a key normalized metric for assessing Phreesia’s growth. The revenue headwinds forced the company to reduce revenue per AHSC guidance from a low double-digit range to a low single-digit percentage range. Surprisingly, the company left...
US President Donald Trump said every bridge and power plant in Iran will be destroyed in “four hours”, unless the Middle East nation met a deadline for accepting his demands, including the reopening of the vital Strait of Hormuz. Every bridge will be “decimated” and every power plant “will be out of business, burning, exploding and never to be used again”, Trump told reporters on Monday as he reit...
US President Donald Trump said every bridge and power plant in Iran will be destroyed in “four hours”, unless the Middle East nation met a deadline for accepting his demands, including the reopening of the vital Strait of Hormuz. Every bridge will be “decimated” and every power plant “will be out of business, burning, exploding and never to be used again”, Trump told reporters on Monday as he reiterated a deadline of Tuesday 8pm New York time (8am on Wednesday Hong Kong time). Iran must allow...
An investigation into a senior transport official in China’s Guizhou province has delayed subsidy payments to infrastructure projects, disrupting loan servicing and highlighting vulnerabilities in local government-linked debt. Zhang Yin, a former head of Guizhou’s transportation department, is under investigation for suspected corruption, the province’s top anti-graft agency said late last month.
An investigation into a senior transport official in China’s Guizhou province has delayed subsidy payments to infrastructure projects, disrupting loan servicing and highlighting vulnerabilities in local government-linked debt. Zhang Yin, a former head of Guizhou’s transportation department, is under investigation for suspected corruption, the province’s top anti-graft agency said late last month.
Defender signs deal to 2027 with option for further year Maguire was bought from Leicester in 2019 Harry Maguire has signed a contract extension with Manchester United until 2027, with the option for a further year. The defender joined from Leicester in 2019 and was due to reach the end of his deal this summer. Maguire said: “Representing Manchester United is the ultimate honour. It is a responsib...
Defender signs deal to 2027 with option for further year Maguire was bought from Leicester in 2019 Harry Maguire has signed a contract extension with Manchester United until 2027, with the option for a further year. The defender joined from Leicester in 2019 and was due to reach the end of his deal this summer. Maguire said: “Representing Manchester United is the ultimate honour. It is a responsibility that makes myself and my family proud every single day. I am delighted to extend my journey at this incredible club to at least eight seasons and continue to play in front of our special supporters to create more amazing moments together. Continue reading...
DNY59/E+ via Getty Images Originally Published on March 31, 2026 Returns in floating rate notes are driven by two main components: short-term interest rates and credit spreads. Corporate floating rate notes (FRNs) are often used to help manage interest rate risk. Unlike fixed-rate bonds, FRNs are structured so that income adjusts with changes in short-term interest rates. As a result, their return...
DNY59/E+ via Getty Images Originally Published on March 31, 2026 Returns in floating rate notes are driven by two main components: short-term interest rates and credit spreads. Corporate floating rate notes (FRNs) are often used to help manage interest rate risk. Unlike fixed-rate bonds, FRNs are structured so that income adjusts with changes in short-term interest rates. As a result, their returns are driven primarily by income rather than price movements, making them potentially attractive when rates are rising or expected to remain elevated. What Are Floating Rate Notes? Corporate floating rate notes are bonds that pay a coupon linked to a short-term reference rate (usually SOFR), plus a fixed credit spread. The coupon resets periodically, allowing income to rise when short-term rates increase and decline when rates fall. Because coupons adjust regularly, FRN prices exhibit minimal sensitivity to changes in interest rates. Investors therefore avoid the duration-related price declines associated with traditional fixed-rate bonds, although they also do not benefit from falling rates through price appreciation. Key Drivers of FRN Returns Returns in corporate FRNs are driven by two main components: short-term interest rates and credit spreads. Short-Term Interest Rates and Coupon Income The primary source of FRN returns is coupons. As reference rates such as SOFR move in response to monetary policy, FRN coupons reset accordingly. When short-term rates rise, income increases; when rates fall, income declines. Given the low interest-rate duration of FRNs, price volatility from rate movements is minimal, leaving income as the dominant driver of performance. Credit Spreads and Spread Duration While interest rates drive the level of income, credit spreads determine how much additional yield investors earn for taking on issuer credit risk. Higher credit spreads generally result in higher income but also introduce sensitivity to changes in market credit conditions. This sen...
The first quarter was a difficult one for the S&P 500 and for investors as a variety of concerns circulated -- from worries about the revenue potential of artificial intelligence (AI) companies to the pressures of turmoil in Iran. All of this pushed many investors to avoid AI players and other growth stocks and turn to companies seen as stable parts of the economy -- such as healthcare businesses....
The first quarter was a difficult one for the S&P 500 and for investors as a variety of concerns circulated -- from worries about the revenue potential of artificial intelligence (AI) companies to the pressures of turmoil in Iran. All of this pushed many investors to avoid AI players and other growth stocks and turn to companies seen as stable parts of the economy -- such as healthcare businesses. While many industries struggled in recent weeks, a variety of healthcare stocks soared -- from pharma giant Johnson & Johnson to dialysis services provider DaVita Inc . But you'll never guess which healthcare stock delivered the best first-quarter performance in the S&P 500. It's a company that's been through ups and downs in recent years, but could be heading for a whole new era of growth. Let's zoom in for a close look -- and consider whether the positive momentum may last. Image source: Getty Images. Continue reading