Luis Alvarez/DigitalVision via Getty Images Thesis Update on GCT Just like in January, and throughout multiple bullish updates on the stock from my end , I believe GigaCloud Technology ( GCT ) is one of the clearest risk/reward plays on the market these days, although it's exposed to geopolitical risks to some extent. With the ongoing diversification in the European market and the rise of higher-m...
Luis Alvarez/DigitalVision via Getty Images Thesis Update on GCT Just like in January, and throughout multiple bullish updates on the stock from my end , I believe GigaCloud Technology ( GCT ) is one of the clearest risk/reward plays on the market these days, although it's exposed to geopolitical risks to some extent. With the ongoing diversification in the European market and the rise of higher-margin segments within the sales structure, GCT is very likely to grow at over-consensus rates in the next couple of years (at least). I see an upside potential of ~52% ahead, so I keep my "Buy" rating unchanged. Figuring Out GCT's Prospects As I'm sure people familiar with GCT stock know, the company operates in the cross-border B2B e-commerce market for large, bulky goods, and for the past few years, they've managed to secure the leading place in this niche. GCT is running a proprietary SFR model (supplier-fulfilled retailing) that helps handle the complex logistics of goods like furniture, fitness equipment, and large appliances, expanding quite rapidly in the US and Europe despite all the macro headwinds. GCT's IR materials In Q4 2025, GCT had $362.7 million in sales (+22.7% YoY) and also delivered an adjusted EPS of $1.04 (+37% YoY), thus beating on both the top and bottom lines by 9.15% and over 80%, respectively. The market initially thought that GCT would lose almost 1/3 in terms of EPS, but the firm clearly proved that its margins remain more reliable than the case with other industry companies that focus more on smaller parcel logistics. GCT's IR materials What contributed to the margins' stability was GCT's successful transition from 1P retailers to a higher-margin cohort of 3P platform, where GMV is growing quite rapidly as well. In fiscal 2025, for example, 3P seller GMV was $851.2 million (+22% YoY), and the number of active 3P sellers went up by 16.9% to 1,299. Against the backdrop of the average spend per active buyer being stable at over $130,000, we see an ...
Four Corners Property Trust ( FCPT ) announced the establishment of a new $200 million senior unsecured delayed draw term loan facility with a group of lenders. This facility has a seven-year term and matures on April 6, 2033. At closing, FCPT will draw $50 million from this facility to fund its immediate investment pipeline and other general corporate needs. The remaining $150 million can be draw...
Four Corners Property Trust ( FCPT ) announced the establishment of a new $200 million senior unsecured delayed draw term loan facility with a group of lenders. This facility has a seven-year term and matures on April 6, 2033. At closing, FCPT will draw $50 million from this facility to fund its immediate investment pipeline and other general corporate needs. The remaining $150 million can be drawn at the company’s discretion to finance additional acquisitions. FCPT anticipates fully utilizing these delayed draw commitments between late Q2 and early Q3 of 2026. The facility includes a credit margin of 1.25% over SOFR, based on FCPT’s investment grade ratings of BBB/Baa3. Currently, including the initial $50 million draw, FCPT has hedged 96% of its term loans, and 98% of its total debt will be fixed rate until November 2027. After fully utilizing the loan facility, the estimated run-rate leverage will be around 5.4 times. The Huntington National Bank led the facility as Administrative Agent, with Huntington and U. S. Bank, N. A. as Joint Bookrunners and Joint Lead Arrangers. More on Four Corners Property Trust Four Corners Property Trust: This REIT's Growth Story Advances Despite Macro Uncertainty Four Corners Property Trust, Inc. 2025 Q4 - Results - Earnings Call Presentation Four Corners Property Trust, Inc. (FCPT) Q4 2025 Earnings Call Transcript Four Corners Property Trust buys Panera Bread property for $3.8M Four Corners Property Trust declares $0.3665 dividend
Broadcom Inc (NASDAQ:AVGO, XETRA:1YD), the US semiconductor group, has agreed a long-term deal with Google to design and supply future generations of the search giant's custom artificial intelligence processors, as well as components for its next-generation data centre infrastructure, through...
Broadcom Inc (NASDAQ:AVGO, XETRA:1YD), the US semiconductor group, has agreed a long-term deal with Google to design and supply future generations of the search giant's custom artificial intelligence processors, as well as components for its next-generation data centre infrastructure, through...
British Official Admits UK Not Capable Of Rescuing Their Own Lost Airmen Europe has been dancing on the edge of a knife, flirting with notions of war with a battle hardened Russia over the conflict in Ukraine. As these tensions escalate, questions are being raised about the actual combat readiness and capabilities of countries that have relied on the US for their security for so long. The primary ...
British Official Admits UK Not Capable Of Rescuing Their Own Lost Airmen Europe has been dancing on the edge of a knife, flirting with notions of war with a battle hardened Russia over the conflict in Ukraine. As these tensions escalate, questions are being raised about the actual combat readiness and capabilities of countries that have relied on the US for their security for so long. The primary division between the Trump Administration and NATO countries, the thing that started it all, was the initial refusal of so many of them to pay their fair share for defense. Currently, most NATO members budget around 2% of their GDP to defense under the NATO treaty. When asked to budget 5%, European governments became indignant, only agreeing to meet the target in a decade. In an interesting recent admission from The Telegraph , Tom Tugendhat, a British MP and former security minister, argues that the UK simply lacks the independent military capabilities needed to pull off a rescue operation of one of their own airman similar to the recent US operation in Iran. He says that if one of their pilots needed to be saved, they would have to ask the US to do it. “We do not have the platforms, the satellites, the reach or the mass. Our rescue plan, if the airman were British, would be to call the U.S.” Tugendhat warned about the situation in Iran in March, saying he had questions as to why Prime Minister Keir Starmer failed to deploy appropriate air defense assets in the region to protect UK citizens and allies from missile and drone strikes. Starmer is facing mounting criticism for his delay in deploying the HMS Dragon to Cyprus, following an attack on UK base RAF Akrotiri. Expressing his dismay at the lack of protection for British personnel, Tugendhat told GB News : "My take is pretty simple - we may not have agreed with the initial decision to strike, that's an American and Israeli decision...But I see absolutely no reason why we didn't have assets in the region, why we didn't h...
India is set to import the most oil from Venezuela in almost six years, helping the world’s third-largest crude importer replace Middle East grades disrupted by the Iran war. More than 12 million barrels are headed to India’s west coast this month from the South American producer, the most since February 2020, according to data from Kpler. The April-arriving cargoes were likely secured before the ...
India is set to import the most oil from Venezuela in almost six years, helping the world’s third-largest crude importer replace Middle East grades disrupted by the Iran war. More than 12 million barrels are headed to India’s west coast this month from the South American producer, the most since February 2020, according to data from Kpler. The April-arriving cargoes were likely secured before the recent disruptions in supplies from the Middle East, underscoring a longer-term strategic shift rather than a purely reactive move, said Sumit Ritolia , a lead research analyst at the data intelligence firm. The South Asian nation, which imports about 90% of its crude, has been seeking alternatives after the Iran war disrupted flows through the Strait of Hormuz, which typically transits almost 40% of the country’s oil supplies. Venezuela produces similar sulfur-rich blends, and India used to be a major buyer from the OPEC producer before the trade was curbed by US sanctions, which Washington eased after the capture of President Nicolás Maduro in January. The Ottoman Sincerity — a Suezmax tanker carrying almost 1 million barrels of asphaltic Boscan crude loaded using ship-to-ship transfers off the Carribean island of Aruba — has already arrived at Reliance Industries Ltd. ’s Sikka port, and is the first Venezuelan cargo to reach India in a year. Reliance, which has a US license to buy directly from PDVSA , also loaded its first cargo from the state-owned producer on the Bahama-flagged very large crude carrier Helios this week, moving away from earlier purchases routed via Vitol Group and Trafigura . The heavy Venezuelan barrels tend to yield higher proportions of middle distillates such as diesel and jet fuel, which is significant in the current environment where these markets remain structurally tight, Ritolia said. Most of the crude is the nation’s flagship Merey blend, the Kpler data show. Reliance didn’t immediately reply to an email seeking comments on its Venezuelan im...
Air India Chief Executive Officer Campbell Wilson has resigned, people familiar with the matter said, as the Tata Group -owned carrier confronts record losses and operational setbacks. Wilson, whose contract runs until mid-2027, will remain in place during the transition period, the people said, asking not to be identified discussing information that is private. Tata Sons Pvt. , the group’s main h...
Air India Chief Executive Officer Campbell Wilson has resigned, people familiar with the matter said, as the Tata Group -owned carrier confronts record losses and operational setbacks. Wilson, whose contract runs until mid-2027, will remain in place during the transition period, the people said, asking not to be identified discussing information that is private. Tata Sons Pvt. , the group’s main holding company, will be discussing potential CEO candidates on April 16 and expected to finalize the next leader at the Air India board meeting in May, they added. Air India and Tata Sons did not immediately respond to requests for comment. “It is not appropriate for me to comment on this speculation,” Wilson said in an email response to Bloomberg News. His resignation was first reported by the Mint newspaper on Monday night. Wilson’s exit comes at a critical financial juncture. Air India is expected to post its largest-ever annual loss , dragged down by integration expenses from the Vistara merger and persistent reliability issues. Despite ambitious fleet expansion plans, the airline has struggled to lift yields and improve service to desired levels. The carrier is also under pressure from external shocks: a deadly crash last year, rising costs from Pakistan’s ban on Indian carriers using its airspace, and surging jet fuel prices. Longer routes and higher costs have eroded competitiveness, while rivals face similar turbulence. Air India continues to struggle due to conflict in the Middle East that has made flying routes to Europe and the US even longer. Aviation Strain IndiGo’s CEO Pieter Elbers resigned last month, underscoring the strain across India’s aviation sector. The Tata Group had started scouting for a new Air India CEO, with Chandrasekaran holding initial discussions with potential candidates as the conglomerate grew impatient with the carrier’s slow recovery, Bloomberg News reported in January. Read More: Air India Kicks Off Search to Replace CEO Amid Persisten...
Nigeria doubled crude supply to Dangote Refinery in March as Africa’s top oil producer moved to shore up fuel availability after the Iran war disrupted Middle East shipments. The refinery received up to 10 cargoes of crude from the state-owned Nigerian National Petroleum Co., Aliko Dangote , who controls the continent’s largest crude processing plant, told reporters at a briefing on Monday. “Last ...
Nigeria doubled crude supply to Dangote Refinery in March as Africa’s top oil producer moved to shore up fuel availability after the Iran war disrupted Middle East shipments. The refinery received up to 10 cargoes of crude from the state-owned Nigerian National Petroleum Co., Aliko Dangote , who controls the continent’s largest crude processing plant, told reporters at a briefing on Monday. “Last month, they gave us six cargoes for naira and four cargoes for dollars,” Dangote said. The increased supply underscores Nigeria’s push to secure domestic fuel availability after the US-Israel attack on Iran disrupted global supply chains. At full capacity, the Dangote refinery can meet domestic demand and have enough to export. The facility had been receiving an average of five cargoes a month since October 2024, when the NNPC and Dangote signed a deal in which the state energy firm agreed to supply crude to the plant to be paid for in naira. Still, the March shipments fall short of the 19 cargoes that Dangote Refinery says it needs to operate at full capacity. The company supplements the shortfall with imports of crude from the US and other African countries. Iran War Fuel-Price Shock Is Catching Up With African Nations Dangote Faces Demand Surge as War Hinders Africa Fuel Supply The Billionaire Who Won Nigeria’s Battle for Fuel: Next Africa While supply from the NNPC has improved, Dangote said that volumes from international oil companies operating in Nigeria have not increased. The overseas firms prefer selling crude to traders, Dangote said, which leads to the refinery repurchasing supplies from them at a higher cost. “The higher we pay, the higher the cost of petroleum products will be, because we have to pass on the cost,” he said. Many Africa nations have come to rely on the refinery for their petroleum products since the start of conflict in the Persian Gulf, Dangote said. In March, the refinery shipped about 17 cargoes to other African countries, he said. The compa...