A Goldman Sachs Group Inc. private credit fund said investors sought to pull just under 5% of cash in the first quarter, narrowly escaping a broader exodus that has forced peers to cap withdrawals. Goldman Sachs Private Credit Corp. , 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, accord...
A Goldman Sachs Group Inc. private credit fund said investors sought to pull just under 5% of cash in the first quarter, narrowly escaping a broader exodus that has forced peers to cap withdrawals. Goldman Sachs Private Credit Corp. , 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, according to a filing on Monday. That contrasts with peers including Blue Owl Capital Inc. that saw redemption requests dramatically higher than an industry-wide 5% limit. Redemption requests were still above the 3.5% rate seen in the fourth quarter. A representative for Goldman Sachs didn’t immediately respond to a request for comment. “We are the only non-traded BDC in the peer group whose repurchase requests came in below the standard 5% quarterly cap,” the fund said in a letter to shareholders. The fund pointed to its reliance on institutional capital rather than retail investors, which have been bolting in larger numbers amid worries over lending standards and exposure to companies vulnerable to disruption from artificial intelligence. “To be clear, we are in the same market as the other non-traded BDCs and we are certainly not insulated from the dynamics of the industry,” the Goldman fund managers wrote. “However,” they said, “we remain confident that the more important point is a structural one: we have strategically diversified our sources of capital by maintaining an institutionally oriented private credit platform, which means we can be patient, we can pace our deployment at our discretion, and when coupled with our origination ecosystem, provides us with a competitive advantage throughout the credit cycle.”
narvo vexar Madison Air Solutions ( MAIR ) is preparing to raise as much as $2.23 billion through an initial public offering, a deal that could mark the largest U.S. industrial IPO in nearly 30 years. The Chicago-based maker of ventilation and air filtration systems plans to offer 82.7 million shares priced between $25 and $27 each, according to a filing with the U.S. Securities and Exchange Commi...
narvo vexar Madison Air Solutions ( MAIR ) is preparing to raise as much as $2.23 billion through an initial public offering, a deal that could mark the largest U.S. industrial IPO in nearly 30 years. The Chicago-based maker of ventilation and air filtration systems plans to offer 82.7 million shares priced between $25 and $27 each, according to a filing with the U.S. Securities and Exchange Commission. If priced at the top end, the transaction would represent the biggest public debut for an industrial company since United Parcel Service completed its $5.5 billion listing in 1999. At that valuation, Madison Air ( MAIR ) would be worth roughly $13.2 billion based on its total shares outstanding. The company generates the bulk of its revenue from its U.S. commercial operations, which serve sectors such as healthcare, data centers, manufacturing and logistics. Its residential portfolio includes brands like AprilAire, Broan-NuTone and Zephyr. Investor enthusiasm for businesses tied to data center infrastructure has been strong. For example, shares of Legence ( LGN ) have more than doubled since its IPO last September, while Vertiv Holdings ( VRT ) has surged dramatically since entering public markets via a SPAC deal in 2020. Financially, Madison Air reported net income of $124 million on $3.34 billion in revenue for 2025, compared with $236 million in profit on $2.62 billion in revenue the previous year. The filing also noted that its 10 largest customers accounted for roughly one-third of total sales. The company sees growth opportunities driven by several structural trends, including aging housing stock across North America, rising demand for data center capacity and the reshoring of advanced manufacturing. These dynamics are expanding what it estimates to be a $40 billion market for specialized air systems. Madison Air was assembled by its parent, Madison Industries , through a series of acquisitions beginning in 2017. Following the IPO, founder Larry Gies will retai...
Aninka Bongers-Sutherland/iStock via Getty Images Turning Point Brands, Inc. ( TPB ), saw its stock price suddenly drop 8% last week. It dropped from $78.54 to $72.16 last Wednesday after news broke that the FDA would no longer fast-track Premarket Tobacco Production Applications (PMTA). The company has two applications with the FDA for its white pouch nicotine products. I last covered the company...
Aninka Bongers-Sutherland/iStock via Getty Images Turning Point Brands, Inc. ( TPB ), saw its stock price suddenly drop 8% last week. It dropped from $78.54 to $72.16 last Wednesday after news broke that the FDA would no longer fast-track Premarket Tobacco Production Applications (PMTA). The company has two applications with the FDA for its white pouch nicotine products. I last covered the company on Seeking Alpha back in August 2023. The stock price has gained 185% since then, but a lot has changed with the company. Since then, Turning Point Brands has brought two white pouch nicotine brands to market: FRE and ALP. The new segment called Modern Oral has become the focus of the company's strategy. The company reported strong Q4 financial performance last month with net income and free cash flow. The stock price is up 20% over the last year. The stock price and the company are overvalued based on key metrics, like book value per share and backward multipliers. The stock price fell last week due to panic selling. I rate the company as a Hold for now. Operations Turning Point Brands owns the iconic Zig-Zag rolling paper brand. The company sells cannabis support products like papers and cones. The company also sells chewing tobacco under the brand names Stoker's and Beech-Nut. Both operating segments have fueled revenue growth for the company. Recently, the company has turned to white pouch nicotine products under the brand names FRE and ALP. The new products have been very successful and have helped increase the company's financial performance. The company is now focused on growing these two brands. Panic Selling News came out last week that the FDA would no longer fast-track PMTA applications. These applications are required for a company to sell and to advertise any tobacco or nicotine products. The FDA makes sure that the products and their advertising are suitable for public consumption and not targeted towards children. To date, the FDA has only approved the appli...
Madison Air ( MAIR ) on Monday announced the launch of its roadshow for a proposed initial public offering of 82.7 million shares, expected to price between $25.00 and $27.00 per share. The company plans to list on the New York Stock Exchange under the ticker symbol 'MAIR'. Proceeds from the offering are intended for repayment of certain debt. A registration statement has been filed with the SEC b...
Madison Air ( MAIR ) on Monday announced the launch of its roadshow for a proposed initial public offering of 82.7 million shares, expected to price between $25.00 and $27.00 per share. The company plans to list on the New York Stock Exchange under the ticker symbol 'MAIR'. Proceeds from the offering are intended for repayment of certain debt. A registration statement has been filed with the SEC but is not yet effective. Source: Press Release More on Madison Air Solutions Corporation Madison Air Solutions Targets Large IPO To Pay Down Debt Financial information for Madison Air Solutions Corporation
Intercontinental Exchange ( ICE ) said on Monday it now expects higher expenses, driven by strong revenues related to robust trading volumes, with the incremental expense expected to be more than offset by the related revenues. For the first quarter of 2026, the company expects GAAP operating expenses in the range of $1.280B-$1.290B, against the prior estimate of $1.245B-$1.255B. Non-GAAP adjusted...
Intercontinental Exchange ( ICE ) said on Monday it now expects higher expenses, driven by strong revenues related to robust trading volumes, with the incremental expense expected to be more than offset by the related revenues. For the first quarter of 2026, the company expects GAAP operating expenses in the range of $1.280B-$1.290B, against the prior estimate of $1.245B-$1.255B. Non-GAAP adjusted operating expenses are now estimated to be between $1.030B and $1.040B. The metric was estimated at $1.010B-$1.020B. Full-year GAAP operating expenses are now expected to be in the range of $5.095B to $5.145B, vs. $5.010B-$5.075B prior. Non-GAAP adjusted operating expenses are projected to be in the range of $4.145B to $4.195B, vs. $4.075B-$4.140B prior. Furthermore, the company sees a 45% year-over-year rise in the Q1 average daily volume, 32% in energy ADV, 29% in agriculture and metals ADV, 65% in financials ADV, 39% in NYSE cash equities ADV, and 23% in NYSE equity options ADV. More on Intercontinental Exchange Intercontinental Exchange: Why The Business Remains Intact Despite Recent Macro Headwinds Intercontinental Exchange: Current Multiples Outpace Earnings Growth Intercontinental Exchange, Inc. (ICE) Presents at Bank of America Financial Services Conference 2026 Transcript Intercontinental Exchange invests $600M in Polymarket NYSE teams up with Securitize for 24/7 tokenized securities platform
As US President Donald Trump’s Tuesday deadline for reopening the Strait of Hormuz approached, Pakistan put forward a fresh proposal for an immediate ceasefire on Monday, offering what one analyst described as “a critical opportunity” for talks. The plan was brokered through overnight contacts between Pakistani army chief Asim Munir, US officials including Vice-President J.D. Vance and Iran’s Fore...
As US President Donald Trump’s Tuesday deadline for reopening the Strait of Hormuz approached, Pakistan put forward a fresh proposal for an immediate ceasefire on Monday, offering what one analyst described as “a critical opportunity” for talks. The plan was brokered through overnight contacts between Pakistani army chief Asim Munir, US officials including Vice-President J.D. Vance and Iran’s Foreign Minister Abbas Araghchi, according to Reuters. It called for an immediate halt to hostilities...
Blackstone Inc. -backed QTS kicked off the sale of a 10-year investment-grade green bond on Monday as the firm builds a major data center in the state of Georgia. Initial price talk for the note is a spread of about 1.625 percentage points over Treasuries, according to a person familiar with the matter who asked not to be identified. Bloomberg News reported last week that QTS was looking to raise ...
Blackstone Inc. -backed QTS kicked off the sale of a 10-year investment-grade green bond on Monday as the firm builds a major data center in the state of Georgia. Initial price talk for the note is a spread of about 1.625 percentage points over Treasuries, according to a person familiar with the matter who asked not to be identified. Bloomberg News reported last week that QTS was looking to raise $4.6 billion , after having held investor calls . QTS, which Blackstone purchased in 2021 for about $10 billion including debt, is building a massive data center in Fayetteville, Georgia that will house thousands of computers for companies such as Microsoft Corp. The bond will be issued by QTS Fayetteville I DC1-2 LLC and QTS TRS Fayetteville I DCI-2 LLC, subsidiaries of QualityTech LP . Moody’s Ratings gave a first-time credit score of Baa2 to the debut offering — two notches above junk — and said proceeds would go toward refinancing credit facilities tied to the project, as well as other uses including payouts. Read more: Blackstone Data-Center Ambitions School a City on AI Power Needs JPMorgan Chase & Co. , Wells Fargo & Co. , SMBC Nikko Securities Inc. and Goldman Sachs Group Inc. are managing the sale. The deal is one of two offerings in the US investment-grade primary market on Monday. Private Debt The boom in artificial intelligence and the buildout of infrastructure around it will require more than $3 trillion of financing, according to Moody’s Ratings. Debt markets of all kinds are providing the bulk of that. In the past , QTS has tapped US private placements for borrowing through bonds that are typically bought by life insurers and asset managers. Just recently, it raised $800 million in that format, with plans to raise more in the near future, according to one of the people. Other high-grade bond sales tied to AI, including those from big tech firms such as Alphabet Inc. , have driven record issuance and attracted strong demand. Bloomberg Deal Tracker on AI-Relat...
zhengzaishuru/iStock via Getty Images The last article mentioned that Cenovus Energy ( CVE ) had a great quarter that was magnified by a currency gain. Now the Iranian crisis is likely to provide more good comparisons where that currency gain is basically replaced by higher oil prices. The retirement of the preferred stock and the repayment of debt are also going to help earnings in the future. Ev...
zhengzaishuru/iStock via Getty Images The last article mentioned that Cenovus Energy ( CVE ) had a great quarter that was magnified by a currency gain. Now the Iranian crisis is likely to provide more good comparisons where that currency gain is basically replaced by higher oil prices. The retirement of the preferred stock and the repayment of debt are also going to help earnings in the future. Even though the replacement (of more earnings from higher commodity prices replacing currency gains) may not be exact, in the eyes of the market, this company reported a great fourth quarter and now has a good possibility of more good quarterly comparisons for as long as the higher commodity prices last. What Mr. Market will likely remember is that the good quarterly comparisons began early here. That may give this stock a "first mover" advantage as the Iranian situation clears up enough for the industry to figure out the future. Preferred Stock There was an outstanding issue in retiring the preferred stock that came with the Husky acquisition some years ago. The company announced that the last two issues of preferred would be retired. This announcement completes the retirement of all the preferred issues that were outstanding for some years. For common stockholders, the preferred stock had a senior claim to the company's assets. Therefore, the redemption has an effect similar to the more obvious debt reduction that has been underway since the MEG Energy merger. The last article at least hinted that any dividend increases were likely subject to more debt reduction. But the rise in commodity prices could well put that project very much ahead of schedule while it lasts. It actually makes the timing of the MEG Energy acquisition look brilliant because more production is now available to sell at much higher prices right after the merger. The whole overall debt reduction and preferred stock retirement project cleans up the balance sheet to allow this company to continue the histor...
Courtney Lawes is to leave French side Brive at the end of the season, with Prem Rugby's Leicester Tigers reportedly interested in bringing him back to England.
Courtney Lawes is to leave French side Brive at the end of the season, with Prem Rugby's Leicester Tigers reportedly interested in bringing him back to England.
Rex International Holding通过其子公司Masirah Oil Limited宣布，位于阿曼海域Yumna油田的三口开发井钻井作业预计将推迟至2026年5月开始，晚于此前计划。 作为Block 50的作业者并持有100%权益的Masirah Oil此前曾表示，在2025年12月完成2500万美元债券融资后，钻井作业有可能于2026年第一季度启动。该融资用于支持该钻井项目及Yu...
Rex International Holding通过其子公司Masirah Oil Limited宣布，位于阿曼海域Yumna油田的三口开发井钻井作业预计将推迟至2026年5月开始，晚于此前计划。 作为Block 50的作业者并持有100%权益的Masirah Oil此前曾表示，在2025年12月完成2500万美元债券融资后，钻井作业有可能于2026年第一季度启动。该融资用于支持该钻井项目及Yumna油田的运营。 这笔通过Rex International旗下Jasmine Energy完成的融资，旨在支持三口生产井的钻探，以提高该成熟海上油田的油流速度并延长油田寿命。 更新后的时间表将项目启动时间推迟至五月，但作业范围保持不变，仍计划钻探三口开发井。 Masirah Oil正寻求提高Yumna油田的产量和储量，该油田是阿曼较小的海上生产资产之一。 该公司此前表示，新井预计将增强产量，并支持该油田的长期价值创造。 责任编辑：张俊 SF065
Justin Sullivan Charles Schwab ( SCHW ) plans to launch spot crypto trading on its platform this year, President and CEO Rick Wurster said in his letter to shareholders on Monday. The company will start this year with bitcoin ( BTC-USD ) and ethereum ( ETH-USD ), the two largest cryptocurrencies by market cap. The firm estimated that its clients already hold ~20% share of the spot crypto exchange-...
Justin Sullivan Charles Schwab ( SCHW ) plans to launch spot crypto trading on its platform this year, President and CEO Rick Wurster said in his letter to shareholders on Monday. The company will start this year with bitcoin ( BTC-USD ) and ethereum ( ETH-USD ), the two largest cryptocurrencies by market cap. The firm estimated that its clients already hold ~20% share of the spot crypto exchange-traded product market. " We know that clients who have allocated a portion of their portfolios to spot cryptocurrencies at other firms have shared an eagerness to bring those assets to Schwab alongside their existing investments and our banking capabilities," Wurster wrote. He added, "If investor preferences shift to transacting more heavily on the blockchain, the firms that meet client needs while furthering the safety, security, and trust of the financial markets will be the ones that succeed." Schwab ( SCHW ) stock ticked down 0.1% in premarket trading. Bitcoin ( BTC-USD ) rose 0.6% to $69.4K, and ether ( ETH-USD ) increased 1.7% to $2.15K. More on Charles Schwab Charles Schwab: A Full And Impressive Recovery Buy Shares Where You Invest: Charles Schwab Charles Schwab: Why We Trimmed Modestly Most and least shorted large-cap financial stocks at the end of March Retail investors pull back from equities, defying seasonal patterns, JP Morgan says
Mediators want both sides to agree to suspend hostilities but Tehran warns peace talks ‘incompatible with threats’ Middle East crisis – live updates Proposals for an immediate ceasefire have been circulated to Washington and Tehran in an attempt to halt the five-week-old war and stave off an extraordinary threat issued by Donald Trump to bomb Iran’s power plants. Mediators from Pakistan, Egypt and...
Mediators want both sides to agree to suspend hostilities but Tehran warns peace talks ‘incompatible with threats’ Middle East crisis – live updates Proposals for an immediate ceasefire have been circulated to Washington and Tehran in an attempt to halt the five-week-old war and stave off an extraordinary threat issued by Donald Trump to bomb Iran’s power plants. Mediators from Pakistan, Egypt and Turkey want both sides to agree to suspend hostilities and reopen the strait of Hormuz, to be followed by a period of detailed negotiations intended to reach a more complete peace agreement. Continue reading...
Rubrik, Inc. (NYSE:RBRK) is among the 13 Best Strong Buy AI Stocks to Invest In Now. On April 2, Rubrik Inc. (NYSE:RBRK) disclosed in a regulatory filing that director Mark McLaughlin purchased approximately 10,600 shares of common stock in a transaction valued at roughly $502,000 on March 30. This insider buying activity, coupled with a […]
Rubrik, Inc. (NYSE:RBRK) is among the 13 Best Strong Buy AI Stocks to Invest In Now. On April 2, Rubrik Inc. (NYSE:RBRK) disclosed in a regulatory filing that director Mark McLaughlin purchased approximately 10,600 shares of common stock in a transaction valued at roughly $502,000 on March 30. This insider buying activity, coupled with a […]
Returns for Carvana are likely to moderate following the used-car stock's dizzying rallies in recent years, largely due to a combination of macroeconomic headwinds, according to Bank of America. The bank downgraded Carvana to neutral from buy, and lowered the stock's price target to $360 from $400, which still implies nearly 15% upside from Thursday's close. "Recent macro & industry developments m...
Returns for Carvana are likely to moderate following the used-car stock's dizzying rallies in recent years, largely due to a combination of macroeconomic headwinds, according to Bank of America. The bank downgraded Carvana to neutral from buy, and lowered the stock's price target to $360 from $400, which still implies nearly 15% upside from Thursday's close. "Recent macro & industry developments make the near-term risk/reward look more balanced," Bank of America analyst Michael McGovern said Monday in a note to clients. "With the recent oil shock potentially pressuring an already stretched lower & middle income consumer, and 2-year rates moving the opposite direction, we think the risk/reward profile is more balanced now than heading into 2026, despite management's strong execution & still-elevated growth." Carvana's shares nearly quadrupled in 2024 as the used-car firm posted improved quarterly profits, boosted by a series of cost-saving measures. Although that growth continued into much of last year, Carvana shares have plunged 26% in 2026 as fallout from Iran war threatens to hit consumers' wallets, according to McGovern. The analyst noted that discretionary spending could decline due to worsening macroeconomic conditions amid the Iran war, hurting Carvana and its competitors' bottom lines. CVNA YTD mountain Carvana stock year to date Following the U.S.' initial spate of military strikes on Iran in late February, gas prices in the U.S. have spiked more than 30%. "Higher gas prices could add some risk to discretionary spend in [the] autos category, especially for younger demos," McGovern wrote. "To illustrate, Gen Z spending on gas represents nearly 10% of overall Gen Z discretionary spend, nearly double the share of older cohorts." As consumers seem to tighten their purse strings, Carvana is aiming to capture a larger share of the used-automobile market by adopting more competitive lending rates. However, those efforts could be undermined by a recent increase in ...