Tashi-Delek/E+ via Getty Images The last time I spoke about Praxis Precision Medicines, Inc. ( PRAX ), it was in a Seeking Alpha article entitled " Praxis: Moving To Strong Buy Based On Ulixacaltamide Success In Treating ET ." With respect to this article, I mentioned that the company had achieved positive results from both of its phase 3 studies of the ESSENTIAL3 program using its drug ulixacalta...
Tashi-Delek/E+ via Getty Images The last time I spoke about Praxis Precision Medicines, Inc. ( PRAX ), it was in a Seeking Alpha article entitled " Praxis: Moving To Strong Buy Based On Ulixacaltamide Success In Treating ET ." With respect to this article, I mentioned that the company had achieved positive results from both of its phase 3 studies of the ESSENTIAL3 program using its drug ulixacaltamide for the treatment of patients with essential tremor [ET]. This was a huge event because it put into motion the next expected catalyst that was set for Q4 of 2025, which was that the company was to hold a pre-NDA meeting with the FDA to discuss the possibility of being able to file for regulatory approval of this drug. I'm happy to report that this meeting with the FDA went well in December of 2025 and that the company was able to submit its NDA of ulixacaltamide for the treatment of these ET patients. The last time I rated this stock, I gave it a Strong Buy rating, and I'm going to stick to this rating again. Not just because the company was able to submit its NDA of ulixacaltamide for ET. It goes deeper than that, and it is because the company also had another huge positive update relating to its pipeline after I had written about it. It released positive interim results from the phase 2/3 EMBOLD registrational cohort using its drug relutrigine for the treatment of SCN2A and SCN8A developmental and epileptic encephalopathy [DEE]. The interim study was stopped early due to overwhelming results from this EMBOLD trial. The thing is that not only was Praxis able to submit a New Drug Application [NDA] of relutrigine for the treatment of these specific SCN2A and SCN8A patients, but it also had it accepted by the FDA with priority review with a Prescription Drug User Fee Act [PDUFA] target action date of September 27, 2026. The truth is that this program of targeting DEEs has two expansion opportunities, which are other reasons for my Strong Buy rating. The first expansion o...
Sundry Photography Cisco Systems ( CSCO ) said on Monday that it has named former Deloitte executive Peter Shimer to its board of directors. Shimer, who has four decades worth of executive experience, including as a member of the C-suite, will be a part of the board's audit committee, Cisco said in a statement. “We're delighted to welcome Pete to Cisco's board,” said Chuck Robbins, chair and CEO o...
Sundry Photography Cisco Systems ( CSCO ) said on Monday that it has named former Deloitte executive Peter Shimer to its board of directors. Shimer, who has four decades worth of executive experience, including as a member of the C-suite, will be a part of the board's audit committee, Cisco said in a statement. “We're delighted to welcome Pete to Cisco's board,” said Chuck Robbins, chair and CEO of Cisco. “His four decades of experience leading large global organizations and guiding clients through digital transformation brings invaluable insight at a critical moment, as Cisco delivers the critical infrastructure powering AI innovation worldwide.” Shimer is also a member of the board of directors at Alaska Airlines, Korn Ferry, and Synopsys ( SNPS ), and is the executive chair of the Cancer Artificial Intelligence Alliance. More on Cisco Cisco Q2: The Valuation Makes No Sense Cisco: The Only Undervalued 'Full-Stack' AI Play Cisco Systems, Inc. (CSCO) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript Iran threatens attacks on Nvidia, Apple and other tech majors: report Cisco, Arista Networks among Truist's favorite networking stocks
SpaceX ( SPACE ) and its bankers are preparing investor meetings to gauge demand for a potential IPO that could value the company at around $2 trillion, Bloomberg News reported Monday, citing people familiar with the plans. The discussions come shortly after SpaceX’s merger with xAI, as the company explores what could become the largest IPO on record. Estimates for its valuation have climbed quick...
SpaceX ( SPACE ) and its bankers are preparing investor meetings to gauge demand for a potential IPO that could value the company at around $2 trillion, Bloomberg News reported Monday, citing people familiar with the plans. The discussions come shortly after SpaceX’s merger with xAI, as the company explores what could become the largest IPO on record. Estimates for its valuation have climbed quickly, rising from about $1.75 trillion to above $2 trillion in recent weeks. Some observers say the pitch to investors will hinge less on current financials and more on belief in Elon Musk’s long-term vision. One academic and former banker noted that the focus is likely to remain on sustaining investor enthusiasm for the company’s future potential rather than strictly justifying the numbers today. At that valuation, SpaceX ( SPACE ) would rank among the most valuable companies in the S&P 500, despite generating far less revenue than many of its peers. Analyst estimates suggest the company could produce close to $20 billion in revenue by 2026, largely from its launch business and Starlink satellite network. The IPO timeline may depend in part on upcoming rocket test launches. Analysts say successful tests could build confidence, while setbacks might delay or even derail the offering. A listing could raise as much as $75 billion, surpassing the record set by Saudi Aramco in 2019. The proceeds would help fund ambitious projects, including space-based data infrastructure and other long-term initiatives tied to Musk’s broader technology ecosystem. Still, some analysts caution that as the valuation rises, investors may question how much of the story rests on Musk’s ability to inspire confidence rather than on underlying financial performance, Bloomberg News reported. More on SpaceX Can Any Investor Actually Value SpaceX? SpaceX IPO: What I Learned From ULA's Heydays SpaceX-xAI Deal: Building America's New Icon If Amazon buys Globalstar, what does it mean for Apple? Musk requires ba...
Meta Platforms (NasdaqGS:META) is cutting about 700 roles, largely in its Reality Labs hardware organization. The company is scaling back metaverse and device efforts while prioritizing artificial intelligence projects. The restructuring follows recent legal verdicts tied to platform design and youth safety concerns. Meta is also seeking to manage costs ahead of higher capital spending on AI infra...
Meta Platforms (NasdaqGS:META) is cutting about 700 roles, largely in its Reality Labs hardware organization. The company is scaling back metaverse and device efforts while prioritizing artificial intelligence projects. The restructuring follows recent legal verdicts tied to platform design and youth safety concerns. Meta is also seeking to manage costs ahead of higher capital spending on AI infrastructure. For you as an investor, this move highlights how Meta Platforms, best known for...
Wall Street is gearing up for a good earnings season, but there are other variables to keep in mind beyond the headline numbers. First-quarter earnings per share are expected to grow 12.3% year over year, above the 11.4% average seen going back to 2009, according to S & P Capital IQ. Still, investors are keeping an eye on market valuations and the economic impacts of the U.S.-Iran War. "We are exp...
Wall Street is gearing up for a good earnings season, but there are other variables to keep in mind beyond the headline numbers. First-quarter earnings per share are expected to grow 12.3% year over year, above the 11.4% average seen going back to 2009, according to S & P Capital IQ. Still, investors are keeping an eye on market valuations and the economic impacts of the U.S.-Iran War. "We are expecting a strong earnings season this quarter in spite of the geopolitical tensions," said Brian Mulberry, chief market strategist at Zacks Investment Management. The earliest first-quarter reports will be released next week. About 54% of S & P 500 companies issued positive earnings per share guidance heading into the quarter, which would mark the highest percentage since 2021, according to an analysis by John Butters, senior earnings analyst at FactSet. By comparison, the five-year and 10-year averages for such rates sat at 42% and 40%, respectively. The bottom-up earnings per share estimate sits nearly 3% higher than where it did at the end of last year, Trivariate Research founder Adam Parker said. The technology sector has largely driven the increase, he said. Growth scare? Despite these positive expectations, outside factors could throw some cold water on investor optimism as the reports are released. First, the spike in fuel prices due to the war has raised concern that corporate profits may be hurt as consumers pull back on spending to offset higher energy costs. Futures for Brent crude, a global benchmark, have surged more than 50% since the conflict began and have risen nearly 80% in 2026. @LCO.1 YTD mountain Brent, year-to-date "Overall, market forecasts embed some breadth, and strong growth, belying what is clearly a growth scare related to the Iran War," Trivariate's Parker wrote in a Sunday note to clients. Increased fuel prices can also lead to more robust earnings for the energy sector, according to David Wagner, head of equity at Aptus Capital Advisors. Howev...
J. Michael Jones/iStock Editorial via Getty Images Introduction Synchrony Financial ( SYF ) is a consumer lending depositor bank. The bank uses depositor money to lend out using credit cards and consumer-based financing. I’ve been a fan of the bank’s preferred shares, last writing about them in June . Now, with the current rate and macro environment, and after a sell-off to start the year, I belie...
J. Michael Jones/iStock Editorial via Getty Images Introduction Synchrony Financial ( SYF ) is a consumer lending depositor bank. The bank uses depositor money to lend out using credit cards and consumer-based financing. I’ve been a fan of the bank’s preferred shares, last writing about them in June . Now, with the current rate and macro environment, and after a sell-off to start the year, I believe the bank’s shares are worth buying. Synchrony Financial Earnings Synchrony Financial is different from a traditional depositor bank. As opposed to mortgages and business loans, Synchrony specializes in high-yield consumer loans and private-label credit cards, which gives it a much higher asset yield than most banks. The bank’s asset yield in the fourth quarter rose by 10 basis points, finishing at 19.07%. Due to the nature of its business, Synchrony’s asset yields are less influenced by rate policy, as evidenced by the fourth quarter asset yield being the highest in the post-pandemic era. On the other hand, the bank’s borrowing yield has managed to decline thanks to the recent monetary policy moves by the Federal Reserve. Borrowing yields fell by 13 basis points in the fourth quarter to 4.07%. The changes in asset and borrowing yields have allowed the net interest spread to reach 15% for the first time since 2022. Net interest margin, which incorporates leverage into the calculation, rose to 15.83%, which was the highest level since 2019. Company Financials Company Financials The trends in yields also translated somewhat over to interest income and expense. Interest income has had inconsistent growth patterns over the last couple of years and was essentially flat in the fourth quarter at $5.7 billion, which was slightly higher than the same quarter a year ago. Interest expense declined to $973 million in the fourth quarter, which was the lowest quarterly level since the second quarter of 2023. Interest expense has declined by $145 million compared to the fourth quarter o...
May NY world sugar #11 (SBK26 ) on Monday closed down -0.03 (-0.20%), and May London ICE white sugar #5 (SWK26 ) did not trade with UK markets closed for the Easter Monday holiday. NY sugar prices slid to a 2-week low and settled lower on Monday due to negative...
May NY world sugar #11 (SBK26 ) on Monday closed down -0.03 (-0.20%), and May London ICE white sugar #5 (SWK26 ) did not trade with UK markets closed for the Easter Monday holiday. NY sugar prices slid to a 2-week low and settled lower on Monday due to negative...
May arabica coffee (KCK26 ) on Monday closed up +2.65 (+0.90%), and May ICE robusta coffee (RMK26 ) did not trade with UK markets closed for the Easter Monday holiday. Arabica coffee moved higher on Monday amid strength in the Brazilian real (^USDBRL ). The real rose to a 3.5-week...
May arabica coffee (KCK26 ) on Monday closed up +2.65 (+0.90%), and May ICE robusta coffee (RMK26 ) did not trade with UK markets closed for the Easter Monday holiday. Arabica coffee moved higher on Monday amid strength in the Brazilian real (^USDBRL ). The real rose to a 3.5-week...
May ICE NY cocoa (CCK26 ) on Monday closed down -10 (-0.31%), and May ICE London cocoa #7 (CAK26 ) did trade with UK Markets closed for the Easter Monday holiday. Cocoa prices settled lower on Monday and are under pressure amid signs of weak chocolate demand. According to Bloomberg...
May ICE NY cocoa (CCK26 ) on Monday closed down -10 (-0.31%), and May ICE London cocoa #7 (CAK26 ) did trade with UK Markets closed for the Easter Monday holiday. Cocoa prices settled lower on Monday and are under pressure amid signs of weak chocolate demand. According to Bloomberg...
Oracle's ( ORCL ) decision to appoint Hilary Maxson as its new CFO makes sense as its Oracle Cloud Infrastructure unit becomes more critical to the overall health of the company, investment firm RBC Capital Markets said. “Stepping back, while we find the leadership change interesting following recent changes announced in September (recall, in September, Oracle announced numerous leadership changes...
Oracle's ( ORCL ) decision to appoint Hilary Maxson as its new CFO makes sense as its Oracle Cloud Infrastructure unit becomes more critical to the overall health of the company, investment firm RBC Capital Markets said. “Stepping back, while we find the leadership change interesting following recent changes announced in September (recall, in September, Oracle announced numerous leadership changes including the promotion of Doug Kehring [former EVP of Operations] to Principal Financial Officer), we think the appointment of Ms. Maxson makes sense as OCI scales and becomes more critical, particularly given her background and given ongoing resource/power constraint challenges facing the industry,” analyst Rishi Jaluria wrote in a note to clients. Jaluris has a Sector Perform rating on Oracle and a $160 price target on the stock. Maxson, who joins from Schneider Electric, will report to CEO Clay Magouyrk in her new role. As for Kehring, he will transition to focus on go-to-market operations, the company said. In March, Oracle said cloud revenue (which includes infrastructure and applications) came in at $8.9B, up 44% year-over-year, above the $8.84B estimate. Total revenue for the period rose 22% year-over-year to $17.19B. Analysts had expected adjusted earnings of $1.70 per share on $16.89B in revenue. More on Oracle Oracle: OCI And Multicloud Execution Shift The Narrative To Buy (Rating Upgrade) Oracle: Building Immunity To 'SaaSpocalypse' As It Lives Up To Its AI Potential Oracle: Funding AI Capacity With Layoffs SA analyst upgrades/downgrades: MU, ORCL, SMCI, LTM Oracle appoints Hilary Maxson as CFO
Saran_Poroong/iStock via Getty Images By Brian Levitt, Chief Global Market Strategist and Head of Strategy & Insights When your background is in macroeconomic and market strategy, there’s an unstated expectation that you can opine on everything. For example, I wasn’t a microbiologist in 2020 during the COVID-19 pandemic, although I often felt like I was struggling to play one on television. In muc...
Saran_Poroong/iStock via Getty Images By Brian Levitt, Chief Global Market Strategist and Head of Strategy & Insights When your background is in macroeconomic and market strategy, there’s an unstated expectation that you can opine on everything. For example, I wasn’t a microbiologist in 2020 during the COVID-19 pandemic, although I often felt like I was struggling to play one on television. In much the same way, I’m not a military strategist today - nor an expert on the inner thinking of US President Trump, Israeli Prime Minister Netanyahu, or Iranian Ayatollah Mojtaba Khomeini. It’s probably for the best. When you convince yourself that you understand the motivations and goals of political and military leaders, markets would likely have a way of humbling you quickly. This past week was a reminder. At various points, markets signaled that the war was intensifying, then nearing an end, and intensifying again. 1 Trying to trade in reaction to each headline is a recipe for being whipsawed. In periods like this, we come back to what we do best. We focus on interpreting what markets themselves are telling us. Business cycle indicators have shown only gradual deterioration Let’s start with the business cycle. As we’ve been saying, our preferred cyclical indicators are trending in the wrong direction, but they aren’t pointing to disaster. Credit spreads have modestly widened, 2 inflation expectations have trended higher, 3 and the US dollar has modestly strengthened. 4 The rise in inflation expectations has led investors to expect further rate increases from the European Central Bank, the Bank of England, and even the Bank of Japan. 5 Taken together, this gradual - but not meaningful - deterioration in cycle indicators suggests that markets still appear to believe in an exit ramp and an eventual resumption of the expansion once near-term uncertainty fades. Global signals point toward a slowdown Tactically, the picture has softened. Our short-lived global expansion signal h...