designer491/iStock via Getty Images We have personally traded Reinsurance Group of America, Incorporated ( RGA ), multiple times during the last five years. At times, it has even been our largest holding . All of our trades have been on the long side, and our confidence in this business has been rewarded with rich dividends (figuratively and literally). As its name indicates, RGA is in the business of reinsurance, with a focus on life and health reinsurance products. Why do insurers need insurance? RGA Website RGA is one of the largest of its kind globally, with a presence in over 100 countries spanning 6 continents. As of the end of last year, it had around $4.3 trillion of life reinsurance in force and close to $157 billion in assets. Company Website We first covered this company on this platform back in 2021, when it was our largest position. Seeking Alpha Over time, we moved from the common stock to the baby bonds issued by this reinsurer. We spoke about Reinsurance Group of America, Incorporated SB DB FX/FL56 ( RZB ) in our June 2025 piece , where we detailed our rationale for taking a sizeable position in it. We have since sold out of it profitably. Today we will talk about one of its siblings. Reinsurance Group of America, Incorporated NT CAL 52 ( RZC ) This baby bond will be a familiar name to those that read our piece back in November 2022. Issued in 2020, RZC's coupon is 7.125%. It matures on October 15, 2052, but can be redeemed at any time after October 15, 2027, which is also its rate reset date. The debentures will bear interest (i) from and including the date of original issue to, but excluding, October 15, 2027 (the “First Reset Date”) at the fixed rate of 7.125% per annum and (ii) from, and including, the First Reset Date, during each Reset Period, at a rate per annum equal to the Five-Year Treasury Rate as of the most recent Reset Interest Determination Date plus 3.456% to be reset on each Reset Date. Source: RZC Prospectus If the baby bond is not ...

Buying growth stocks during volatile times can set you up for attractive long-term returns.

Key PointsCipher Digital continues to gain market share in the hot AI sector, but macro headwinds are still dragging down the stock.

The Dow Jones index rose. Netflix stock rallied on the stock market today. Early indications of Iran impact showed up in an economic report.

In this handout image provided by NASA, Orion snapped this high-resolution selfie in space with a camera mounted on one of its solar array wings during a routine external inspection of the spacecraft on the second day into the Artemis II mission on April 3, 2026. | NASA via Getty Images Humans haven’t stepped foot on the Moon since NASA’s Apollo 17 mission in 1972. Now, the space agency is racing to get back to the lunar surface under the umbrella of its Artemis program — a nod to the Greek goddess and twin sister of Apollo, whose name was given to NASA’s first program to send humans to the Moon. The program has been plagued by years of delays , development mishaps , and billions of dollars in budget overruns , but the mission is unquestionably ambitious. The goal of Artemis is to create a sustainable presence near the Moon, instead of just sending humans to plant flags and make footprints. The agency also aims to send the first woman to the Moon through the Artemis program. Artemis I successfully completed its uncrewed mission in 2022. On April 2nd, 2026, Artemis II launched from Kennedy Space Station carrying four astronauts in its Orion capsule. The plan is to travel around the Moon before returning to Earth in 10 days’ time. They’ll test out the hardware and systems that could soon see humans standing on the Moon for the first time in more than 50 years in the Artemis IV mission scheduled for 2028. On Monday, April 6th, NASA’s livestream is broadcasting on YouTube and on Netflix as the Artemis II astronauts break the record for the furthest distance humans have traveled away from Earth, and during the drop in communications as Orion passes behind the Moon. The Artemis II astronauts will set a new distance record from Earth today Today’s Artemis II lunar flyby will be livestreamed on Netflix. The far side of the Moon peeks out to say hi. You can’t doomscroll 230,000 miles from Earth. Artemis II is more than halfway to the Moon. Why the Artemis II crew is relying ...

格隆汇4月7日｜美国总统特朗普：我们要去找发布这条新闻的媒体公司。

Tomas Cuesta/Getty Images News The thesis of the Argentine oil producer YPF Sociedad Anónima ( YPF ) is much more nuanced than a mere oil proxy. Although the recent price action has recoupled the ADR with Brent ( CO1:COM ) amid the strong commodity backdrop, I continue to view YPF as an asymmetric asset anchored in (1) the ongoing normalization of Argentina's macro and the decline in the risk premium; (2) the operational execution in shale, driving volumes and margins (regardless of Brent); and (3) a long-term LNG optionality that still has yet to be fully embedded in valuation. In the short term, YPF performance may remain increasingly sensitive to oil prices as the market re-anchors the narrative around Brent. But more importantly, Q4 '25 and the guidance for FY26 suggest that in the medium to long term, value creation should be driven by execution—namely the conversion of CapEx into higher volumes and also structurally lower costs at Vaca Muerta. Under these updates, although YPF's multiple has gone hand in hand with the improvement in expectations (and falling risk), I see it much more anchored on a new ~5x-7x EV/EBITDA basis than on a one-off, oil-driven peak. Data by YCharts YPF Is Not an Oil Proxy Until It Is The conflicts in the Middle East changed the Brent trajectory drastically and very quickly, specifically from March onwards. Brent, which had started the year at $61 a barrel, in a few weeks climbed above $100 levels. As I had mentioned in my previous thesis on YPF , at the end of January, with Brent levels still depressed, the company's shares came in a constructive tone, showing a correlation contrary to Brent's performance—which led me to read the thesis as not being a direct proxy for oil, compared to other major oils. After all, when zooming out the chart between YPF and Brent in a three-year window, YPF wasn't a "clean" beta all along. On the contrary, idiosyncratic factors such as country risk and pricing policy, as well as deleveraging and CapEx,...

Sir Craig Reedie, the former chair of the British Olympic Association and president of the World Anti-Doping Agency, dies at the age of 84.

Backiris Scott Modell, CEO of Rapidan Energy Group, warned that the U.S. and Iran are heading toward a “path of escalation” as President Donald Trump’s deadline for reopening the Strait of Hormuz approaches . In an interview with CNBC, Modell assessed the odds of a successful 45-day ceasefire deal at just 10% to 15%, citing “absolutist demands on both sides” that have led to entrenched, unworkable positions. “I think we are headed on the path of escalation at this point,” Modell said. Current oil supply disruptions stand at approximately 9M barrels per day, though Modell credited “heroic efforts” by Saudi Arabia and the UAE for managing redirects through the Fujairah and Yanbu terminals. These redirects account for roughly 5M barrels of offsets, but Modell cautioned that they highlight “real vulnerabilities” in the global supply chain that could prove catastrophic if no diplomatic off-ramp is found. Despite the elevated geopolitical risks, oil prices ( CL1:COM ), ( CO1:COM ) have remained relatively stable—a response Modell attributed to market complacency. He explained that traders assume President Trump is “desperate to find an off-ramp” to avoid prolonged conflict, a sentiment Modell believes is accurate but potentially misguided. “We have to escalate to de-escalate,” he said, noting that none of the fundamental goals established at the beginning of the standoff have been achieved. If no deal materializes by tomorrow’s deadline and the administration proceeds with strikes on Iranian infrastructure, Modell identified two specific tail risks that could send prices soaring. Iranian or Houthi forces could target the Yanbu terminal in retaliation, and Modell warned that significant damage isn’t required to spook markets. “All you have to do is hit a couple of storage tanks, and I think the market will start to realize that one glorious redirect… is very vulnerable,” he explained. The most catastrophic scenario, according to Modell, involves Abqaiq—a Saudi crude proces...

With Tesla’s Q1 delivery numbers below expectations, should you consider selling the stock now?

格隆汇4月7日｜美国总统特朗普：有人泄露了消息，我们正在寻找泄密者。

格隆汇4月7日｜据伊朗努尔新闻(Nour News)：有战斗机飞过伊朗伊斯法罕上空，现场传出爆炸声。

格隆汇4月7日｜巴西官员表示，我们面临着非常紧张的就业市场，且通胀预期仍处于失控状态。

Micron Technology (MU) Is Trending on X for a Reason. Here's the AI Memory Story Wall Street Keeps Missing. Money Morning

This blue chip materials stock is becoming an AI growth play.

Key PointsCorning’s stock has more than tripled over the past five years.

As the retail industry figures out how to put artificial intelligence to use, clothing chains like Abercrombie & Fitch, Gap and TJX could be further along than their rivals in adopting the technology, UBS analysts said Monday.

Jutharat Pinpan/iStock via Getty Images Software stocks have crashed, but the extreme pessimism has created opportunity for those willing to sift through the rubble. I expect Okta ( OKTA ) to be a long-term winner, as cybersecurity identity products may even experience tailwinds as agents take over. The company maintains a strong balance sheet as well as improving GAAP profitability. I am upgrading the stock to a strong buy rating. OKTA Stock Price I last covered OKTA in January , where I highlighted the agentic AI opportunity. The stock has fallen 6% since. Data by YCharts While growth rates are unlikely to excite investors, I expect operating leverage and durability in the age of AI to be key in driving future upside. OKTA Stock Key Metrics OKTA is an enterprise software company in the cybersecurity sector with a focus on protecting identities. This used to be mainly known as two-factor authentication, but OKTA envisions a world in which AI agents will also need identity solutions. FY26 Q4 Presentation In the most recent quarter, OKTA generated 11% YoY revenue growth to $761 million, comfortably surpassing guidance of between $748 million and $750 million. FY26 Q4 Presentation The company generated 12% YoY growth in current remaining performance obligations ('cRPOs'). This may suggest that business remains "on track" which is important given the elevated volatility in the software sector. FY26 Q4 Presentation OKTA has seen its dollar-based net retention rate stabilize at 106%. FY26 Q4 Presentation The company has made meaningful progress on profitability and is generating positive GAAP operating income. While GAAP operating profits are still narrow, I note that the company generated an impressive 48% incremental margin in the quarter. FY26 Q4 Press Release OKTA ended the quarter with $2.55 billion of cash versus $350 million of debt, representing a strong net cash balance sheet. Looking ahead, management guided the company to see 9% YoY revenue growth in the first...

What's Going On With Meta Stock Today? Benzinga

【有線新聞】做手術難免會緊張，尤其是小朋友，兒童醫院構思多項措施，希望透過互動減輕病童接受手術的焦慮。 坐上「開篷跑車」究竟要開去哪裡？Aiden：「可以開車以及選擇車子才進去手術室。」他沒有騙你的，真的是開車進入手術室，再交予醫生準備接受手術。這個想法是由兒童醫院構思，目的是要將自主和掌控感交給將要接受手術的兒童，減低他們的焦慮。 兒童醫院麻醉及全期手術醫學科副部門主管郭蕙漩：「當他們害怕的時候，有時候可能有些溝通上或者在醫護人員互動上，或者可能他們看到的東西都會變得很害怕，可能他們都不是害怕痛，他們是害怕自己的恐懼。我睡了之後會發生甚麼事？醒了會發生什麼事？我會不會很痛？其實我相信就算成人做手術都可能有相同的感受或想法。」 醫院表示陌生環境都是造成兒童焦慮的原因，所以亦與大學合作，讓兒童透過VR虛擬實境預演手術過程，讓他們親歷其境，研究發現此舉令兒童焦慮程度減少兩成。兒童醫院麻醉及全期手術醫學科暨外科部門運作經理莫依丹：「不要小看兒童對於手術的創傷記憶，因為這件事可能會大大影響將來長大後對手術的這件事情接受程度，所以為甚麼我們這樣重點希望在兒童階段已經能減低創傷，就是希望他長大的時候也不會再那麼害怕。」

ugurhan/iStock via Getty Images A Quick Take On Kailera Therapeutics’ IPO Kailera Therapeutics, Inc. ( KLRA ) has filed to raise capital to continue its development efforts, according to an S-1 registration statement . The company is a clinical-stage biopharma developing GLP-1 class treatments for obesity. Kailera’s licensed technology has produced positive efficacy trial results for a longer period than tirzepatide, a leading obesity treatment in the GLP-1/GIP class, according to management, and the company is well-capitalized and has a strong management team. The IPO is likely to receive significant institutional investor interest. Kailera Overview And Development Efforts Waltham, Massachusetts-based Kailera was founded to develop GLP-1 -based treatments for obesity and other serious medical conditions. The firm has in-licensed its development targets from Jiangsu Hengrui Pharmaceuticals Co., Ltd ( JHPCY ), a China-based pharmaceuticals company with significant research and development capabilities and a current US market capitalization of approximately $55 billion. Kailera has exclusive rights to development and commercialization outside of Greater China, subject to certain milestone and royalty payments due Hengrui under the license agreement. In consideration for the exclusive rights to Henguri's IP, Kailera paid Hengrui an upfront payment of $100 million, a technology transfer payment of $10 million and issued approximately 5 million shares of Series A-2 convertible preferred stock and around 708,000 shares of Series A-2 non-voting convertible preferred stock. The status of the company's pipeline is shown in the graphic below: SEC Kailera’s lead candidate is ribupatide, a once-weekly injectable peptide for the treatment of obesity. The company is currently evaluating the candidate in three Phase 3 trials, and management believes ribupatide will have a longer half-life than the leading drug tirzepatide, ‘resulting in improved exposure through the full weekly do...

Missouri Senate Passes Bill Blocking WHO, UN, WEF Authority Authored by Jon Fleetwood via substack, A Missouri bill directly confronting the role of unelected global institutions in domestic governance has passed the state Senate, declaring that organizations such as the World Health Organization (WHO), United Nations (UN), and World Economic Forum (WEF) have “no jurisdiction or power within the state.” The move represents a win for state sovereignty, constitutional supremacy, and resistance to foreign governance frameworks. Missouri Senate Bill 977 ( SB 977 ), introduced by State Senator Nick Schroer , passed the Senate on April 2, 2026 by a resounding 31–0 vote and has now moved to the House for further consideration. The legislation establishes what amounts to a state-level legal firewall, preemptively blocking the enforcement pipeline before international directives can take hold inside Missouri’s government systems. Bill Declares Global Institutions Have No Authority in Missouri You can contact Missouri representatives here to encourage them to pass the bill, as SB 977 moves to the House. You can find your own legislators here to recommend they write and pass similar bills. The bill’s language is explicit: “The World Health Organization, the United Nations, the World Economic Forum, and any other international organization or body shall have no jurisdiction or power within the state of Missouri.” It then prohibits any implementation of their directives: “No rule, regulation, fee, tax, policy, or mandate of any kind… shall be enforced or implemented by the state of Missouri or any agency… or any municipality or other political subdivision of the state.” This means that if global bodies issue policy guidance, frameworks, or mandates, Missouri agencies are barred from carrying them out. ‘No Foreign Laws Act’ Blocks Outside Legal Systems from Overriding Constitutional Rights The bill formally creates the “No Foreign Laws Act,” defining foreign law broadly as: “any ...

【特朗普：伊朗可在一夜内被击溃 或许就是7日晚上】财联社4月7日电，美国总统特朗普就对伊朗战事举行新闻发布会。特朗普表示，伊朗整个国家甚至可能在一夜之间被彻底击溃，而那一夜，或许就是4月7日晚。围绕营救美军飞行员的行动，特朗普称，共有21架军用飞机参与了营救被击落战机飞行员的行动。 (央视新闻)

COIN wins conditional OCC trust bank approval, enabling nationwide custody and opening paths to payments, settlement, tokenized products-and an everything exchange.

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in W.W. Grainger Inc. (Symbol: GWW), where a total volume of 1,100 contracts has been traded thus far today, a contract volume which is representative of approximate

特朗普谈及伊朗表示，“整个国家可能一夜之间就被摧毁，而那一夜可能就是明晚”。 责任编辑：李桐

How US Export Curbs Are Fueling China's Chip Boom Benzinga

Antonio Garcia Recena | Moment | Getty Images The average tax refund is about $350 higher so far this season, compared with about the same period in 2025, according to the latest IRS filing data. As of March 27, the average refund amount for individual filers was $3,521, up from $3,170 roughly one year ago, the IRS reported on Friday. The IRS data reflects about 88.4 million individual returns received, out of about 164 million expected through the April 15 deadline. Read more CNBC personal finance coverage Market volatility poses a serious risk for new retirees. Here's how to prepare Trump's overtime deduction is a 'home run,' Treasury says. How it could change Stock market is in for 'choppy, bumpy ride,' strategist says. Here's how to play it Parents with student loans have limited time to secure forgiveness, affordable bills Social Security needs more money. The question is, who will pay? Should you 'buy the dip' amid the latest stock market volatility? What experts say Boston Fed: Credit card APRs have 'economically meaningful' impact on spending Retirement saver protection rule has died — for the second time More than 7 million student loan borrowers face deadline to leave SAVE plan Department of Labor proposes rules for including alternative assets in 401(k)s 31.5% of car buyers underwater on trade-ins; analyst says amount owed 'troubling' Why your tax refund may look different this year, and what's actually driving it Expecting to fight about money with your partner? You might be wrong: study Belle Burden's 'Strangers' highlights key financial red flags for women Average IRS tax refund is up 10.9%, latest filing data shows CNBC's Financial Advisor 100: Best financial advisors, top firms ranked This season, many filers are seeing bigger tax refunds based on changes enacted by President Donald Trump 's " big beautiful bill " in July. Most U.S. workers are W-2 employees, which means companies pay their taxes throughout the year via paycheck withholdings . Althou...