Toro secured a $60M revolving credit facility from a European financial institution, strengthening its liquidity position. The credit runs for 5 years and is secured by four vessels with first lender claim. It also carries interest at Term SOFR plus an added margin, with net proceeds to be used for general corporate purposes. Shares rose 1.10% to $3.67, reflecting modest intraday buying interest. ...
Toro secured a $60M revolving credit facility from a European financial institution, strengthening its liquidity position. The credit runs for 5 years and is secured by four vessels with first lender claim. It also carries interest at Term SOFR plus an added margin, with net proceeds to be used for general corporate purposes. Shares rose 1.10% to $3.67, reflecting modest intraday buying interest. More on Toro Financial information for Toro
Robert Way/iStock Editorial via Getty Images Listen below or on the go on Apple Podcasts and Spotify Anthropic scrambles after Claude Code instructions leak exposes internal tools. (0:15) Tesla deliveries miss expectations . (1:04) Hiring plans jump sharply in March despite slower 2026 outlook. (1:55) This is an abridged transcript of the podcast: Out top story so far, Anthropic ( ANTHRO ) is work...
Robert Way/iStock Editorial via Getty Images Listen below or on the go on Apple Podcasts and Spotify Anthropic scrambles after Claude Code instructions leak exposes internal tools. (0:15) Tesla deliveries miss expectations . (1:04) Hiring plans jump sharply in March despite slower 2026 outlook. (1:55) This is an abridged transcript of the podcast: Out top story so far, Anthropic ( ANTHRO ) is working to contain fallout after accidentally revealing internal instructions used to direct its AI coding agent, Claude Code. The Wall Street Journal reports that Anthropic initially issued a broad copyright takedown request to remove more than 8,000 copies of the raw instructions shared on GitHub, before narrowing the request to 96 posts after saying the first sweep reached more accounts than intended. A spokesperson said the leak of “some internal source code” did not expose customer data or the core model weights — the mathematical parameters that power its AI models. However, it did reveal commercially sensitive techniques and tools used to enable Claude Code to function as a coding agent. Those tools, known as a harness, allow users to control and direct the model. The leak effectively gives rivals and developers insight into how to replicate key features without reverse engineering. Among active stocks, Tesla ( TSLA ) delivered about 358K vehicles in Q1, missing the 365K consensus estimate. Production totaled more than 408K vehicles. Model 3/Y deliveries came in near 342K, with other models accounting for roughly 16K. Shares of Bed Bath & Beyond ( BBBY ) are rebounding after the company announced plans to acquire several assets , including The Container Store, which emerged from bankruptcy last year and is now creditor-owned. Steel and aluminum names including Nucor ( NUE ), Cleveland-Cliffs ( CLF ), ArcelorMittal ( MT ), and Alcoa ( AA ) are under pressure after The Wall Street Journal reported that finished products containing imported steel and aluminum would face a 2...
In this article @CL.1 Follow your favorite stocks CREATE FREE ACCOUNT A customer shops in a grocery store on March 11, 2026 in Miami, Florida. Joe Raedle | Getty Images Rising grocery prices in the U.S. as the result of the Iran war could be among the most politically damaging outcomes of the conflict just months before a critical U.S. election . Two years earlier, President Donald Trump won reele...
In this article @CL.1 Follow your favorite stocks CREATE FREE ACCOUNT A customer shops in a grocery store on March 11, 2026 in Miami, Florida. Joe Raedle | Getty Images Rising grocery prices in the U.S. as the result of the Iran war could be among the most politically damaging outcomes of the conflict just months before a critical U.S. election . Two years earlier, President Donald Trump won reelection after hammering the high costs of eggs, bacon and other grocery store staples. Now he and the Republican Party may be faced with even higher food prices as they try to retain control of Congress in this year's midterm elections . Democrats are looking to capitalize on the spike by pinning it on Trump's decision to go to war, while Republicans are choosing their words to downplay economic forecasts of higher prices for the fuel and fertilizer needed to produce and ship the food voters eat. "Our messaging is affordability and accountability," Rep. Jared Huffman, D-Calif., the ranking member of the House Natural Resources Committee, said in an interview. "It's a pretty tailored message, pretty narrowly focused, and on both of those pillars, Trump is making our arguments even more compelling." "There are a number of ways in which this president is driving up food and energy costs and fueling the affordability crisis," Huffman said. "On all of these fronts, we would have a chance to rein in the craziness. I really think it sets up in a very compelling way for Democrats in this election." The war and the subsequent closure of the Strait of Hormuz by Iran have rocked the global economy. Oil and gasoline prices have soared, fertilizer costs have spiked and markets have plummeted. Grocery store shock The next shock could come at the grocery store, a crucial pain point for millions of Americans who have already weathered years of increased food prices. All of this is happening as election season kicks off with primaries and campaign trail messaging. This year's elections will b...
AlexSecret/E+ via Getty Images The best way for investors to protect themselves from oil-driven inflation shocks is to hold oil itself, according to Ulrike Hoffmann-Burchardi, UBS Global Wealth Management’s chief investment officer for the Americas and global head of equities. In an interview with CNBC, Hoffmann-Burchardi said her firm remains constructive on equities but emphasized that diversifi...
AlexSecret/E+ via Getty Images The best way for investors to protect themselves from oil-driven inflation shocks is to hold oil itself, according to Ulrike Hoffmann-Burchardi, UBS Global Wealth Management’s chief investment officer for the Americas and global head of equities. In an interview with CNBC, Hoffmann-Burchardi said her firm remains constructive on equities but emphasized that diversification across sectors and asset classes has become crucial for navigating the current geopolitical landscape. UBS significantly shifted its investment approach at the end of last year, moving away from a concentrated bet on technology ( VGT ), ( XLK ), ( IYW ) that had defined its strategy for over two years. “We need to broaden out. We need to diversify across the different sectors of the economy,” Hoffmann-Burchardi said, noting this diversification is even more important now given the ongoing conflict involving Iran. While acknowledging significant uncertainty around geopolitics, Hoffmann-Burchardi pointed to several constraints that may limit the duration of the conflict. She cited the upcoming U.S. midterm elections in November, noting that “prolonged military conflicts have not helped presidential popularity ratings,” referencing the historical examples of Presidents Truman and Johnson. Iran’s weakened economy and military heading into the conflict, combined with international pressure over disrupted supply chains for fertilizer inputs and helium, suggest “the probability of a resolution increases, even if we might see more short-term escalation.” On the technology front, Hoffmann-Burchardi said artificial intelligence ( AIQ ), ( BOTZ ), ( DTEC ) remains underappreciated in terms of both capabilities and disruption risks. “AI used to be just a digital coworker. Now it’s autonomously writing code, and not only that, but it’s also self-checking the quality of its code,” she explained, describing the growth in coding capabilities over the past three to four months as “su...
Stocks for the week ended March 27 were 1,865 Bcf vs. 1,829 Bcf for the week ended March 20. Net change: +36 Bcf vs. -54 Bcf for the week ended March 20. Consensus: +38B ETFs: ( UNG ), ( BOIL ), ( KOLD ), ( FCG ), ( UNL ), ( HNU:CA ) Click here to read the full EIA Weekly Natural Gas Storage Report. More on Natural Gas Futures, United States Natural Gas Fund LP ETF, etc. Commodities: Oil Falls Bel...
Stocks for the week ended March 27 were 1,865 Bcf vs. 1,829 Bcf for the week ended March 20. Net change: +36 Bcf vs. -54 Bcf for the week ended March 20. Consensus: +38B ETFs: ( UNG ), ( BOIL ), ( KOLD ), ( FCG ), ( UNL ), ( HNU:CA ) Click here to read the full EIA Weekly Natural Gas Storage Report. More on Natural Gas Futures, United States Natural Gas Fund LP ETF, etc. Commodities: Oil Falls Below $100 On Optimism Over Iran War Commodities: Iran Hits UAE And Bahrain Aluminum Plants Natural Gas Recovery Gains Traction As Geopolitical Support Pushes Price Toward $3.02 The consumer cost of war Oil could spike to $200 if Hormuz ‘near-closure’ persists, Fesharaki says
JHVEPhoto/iStock Editorial via Getty Images Investment Thesis UnitedHealth Group ( UNH ) is flat since my last coverage, but the underlying business is significantly improved. The past two months have seen the management articulate their AI strategy, committing $1.5 billion to save $1 billion in costs. They’ve accelerated their automation in claims, pharmacy, and revenue cycles. This is not just e...
JHVEPhoto/iStock Editorial via Getty Images Investment Thesis UnitedHealth Group ( UNH ) is flat since my last coverage, but the underlying business is significantly improved. The past two months have seen the management articulate their AI strategy, committing $1.5 billion to save $1 billion in costs. They’ve accelerated their automation in claims, pharmacy, and revenue cycles. This is not just efficiency but margin expansion. The operating cost ratio is targeting 12.8%, with AI processing millions of interactions daily at high resolution rates. Meanwhile, the integration of the Optum platform is resulting in increased client stickiness. The market is not seeing it. I believe the business is compounding efficiency and is ready for the next leg up. Data by YCharts $1.5 Billion AI Allocation Extracts $1 Billion to hit a 12.8% Operating Cost Ratio in 2026 In my view, AI integration and overhead cost extraction form an operating advantage for UnitedHealth as it allocates $1.5 billion toward AI platforms in 2026 to extract $1 billion in operating costs. Optum Insight and Optum Financial Services merge to process healthcare transactions. Optum Real executes point-of-care approvals and monetizes claims instantly, and this shift removes post-service reconciliation. Providers receive cash faster. As a result, UnitedHealth decreases admin labor, and operating cost ratios decrease due to this automation. UnitedHealth targets a 12.8% operating cost ratio for 2026, as the 2025 operating cost ratio is at 13.3%. AI answers 3 million calls per day, and the system hits an 18-second answer speed and resolves inquiries at a 90% rate on the first contact. With that, advocates redirect focus to escalated cases. Additionally, OptumRx removes reauthorization mandates for 180 drugs that is reducing prior authorizations by 10%, and this automation removes friction in the pharmacy supply chain. OptumRx implements cost-based reimbursement models and passes 100% of rebates to clients that hel...
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Nico De Pasquale Photography/DigitalVision via Getty Images Introduction Silgan Holdings ( SLGN ) is a large manufacturer of rigid packaging , mainly supplying the consumer goods sector from its 120+ production facilities. Silgan is also a leading supplier of dispensing and specialty closures for fragrance and beauty, as well as for the food and beverage industry. Silgan is a " serial acquirer," a...
Nico De Pasquale Photography/DigitalVision via Getty Images Introduction Silgan Holdings ( SLGN ) is a large manufacturer of rigid packaging , mainly supplying the consumer goods sector from its 120+ production facilities. Silgan is also a leading supplier of dispensing and specialty closures for fragrance and beauty, as well as for the food and beverage industry. Silgan is a " serial acquirer," and while it is still digesting the acquisition of Weener Plastics in 2024 , the company has confirmed it is taking a closer look at Gerresheimer ( GRRMF ) and may consider making a bid to acquire the latter. Data by YCharts A robust earnings and cash flow result In 2025, the company generated a total revenue of just under $6.5 billion , on which it reported a gross profit of approximately $1.15 billion . The revenue increased by more than 10% due to the acquisition of Weener, which is now incorporated in the full-year results. It’s good to see the gross profit margin remained robust, and as the EBIT jumped by more than 15% to almost $600 million , Silgan’s 2025 was very decent. SLGN Investor Relations One element to keep an eye on is the total net interest expense. As Silgan funded the acquisition in 2024 with almost $1 billion in cash, the net debt has increased, and as the cost of debt is still evolving as well, Silgan had to spend almost $190 million on making the interest payments. While this number should trend down in the coming years, it is an important factor in determining the bottom line result. Due to a higher tax bill, the reported net income increased by just 4% to $288 million, which represents an EPS of $2.71. In my previous articles on Silgan, I mainly focused on the company’s cash flow profile, as the sustaining capex tends to be lower than the depreciation and amortization expenses. Looking at Silgan’s cash flow statement, we see a total reported operating cash flow of just under $730 million, but this includes an $18 million contribution from changes in t...