Cloud computing stocks have been an interesting case this year. Although demand for cloud computing continues to surge, many of the stocks in this industry have sputtered. One of the reasons is the stocks have become too expensive and overvalued after three years of bull market gains. But there are other reasons specific to cloud stocks. Many are dealing with capacity constraints to handle the hig...
Cloud computing stocks have been an interesting case this year. Although demand for cloud computing continues to surge, many of the stocks in this industry have sputtered. One of the reasons is the stocks have become too expensive and overvalued after three years of bull market gains. But there are other reasons specific to cloud stocks. Many are dealing with capacity constraints to handle the high demand, which has hurt their ability to maximize profits. Also, cloud computing stocks are spending a ton of money, more than they have in the past, on building out their AI infrastructure to handle the capacity constraints. However, many investors are questioning whether these enormous capital expenditures are going to produce adequate returns or just eat into free cash flow, compress margins, and stunt earnings. Others contend that the infrastructure investments are necessary for long-term growth. Continue reading
General Douglas MacArthur quoted from an old barracks song in his farewell address in 1951: "Old soldiers never die, they just fade away." The adage could be aptly modified today for Warren Buffett's stepping down as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) to: "Old legendary investors never really retire, they just keep investing." That's exactly what Buffett appears to be doing these ...
General Douglas MacArthur quoted from an old barracks song in his farewell address in 1951: "Old soldiers never die, they just fade away." The adage could be aptly modified today for Warren Buffett's stepping down as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) to: "Old legendary investors never really retire, they just keep investing." That's exactly what Buffett appears to be doing these days. New Berkshire CEO Greg Abel recently revealed that Buffett remains active in the company and approved the resumption of stock buybacks after a hiatus of nearly two years. Buffett has consistently maintained that he has no idea what the stock market will do in the short term. However, his behavior often gives some clues about his thinking. What does the latest move by the "Oracle of Omaha" reveal about how he sees the market right now -- and where stocks may be headed next? Continue reading
The retirement rules your parents or grandparents might have had in their minds as they saved for their futures may not work well for you. Times have changed, as has some thinking about how to prepare for retirement. Here are some rules that may not serve you well, despite many people believing them. Image source: Getty Images. Continue reading
The retirement rules your parents or grandparents might have had in their minds as they saved for their futures may not work well for you. Times have changed, as has some thinking about how to prepare for retirement. Here are some rules that may not serve you well, despite many people believing them. Image source: Getty Images. Continue reading
Pressmaster/iStock via Getty Images Iovance Biotherapeutics ( IOVA ) has made progress on turning around the launch of Amtagvi (lifileucel) the past few quarters and is speaking about 2026 performance in an upbeat fashion. I rated IOVA a hold in November, expecting the market to remain skeptical on the name until it showed more clearly it had turned its Amtagvi launch around. With Q4'25 earnings, ...
Pressmaster/iStock via Getty Images Iovance Biotherapeutics ( IOVA ) has made progress on turning around the launch of Amtagvi (lifileucel) the past few quarters and is speaking about 2026 performance in an upbeat fashion. I rated IOVA a hold in November, expecting the market to remain skeptical on the name until it showed more clearly it had turned its Amtagvi launch around. With Q4'25 earnings, the company has provided further evidence of commercial execution, but there are also updates from clinical work worth considering. This article looks at the Amtagvi launch, a near-term competitive threat, and some of the company's clinical work. The Amtagvi Turnaround is Real With Q4'25, the company reported record Amtagvi product revenue of ~$65M, 13% growth over Q3'25, and a sizable increase in Proleukin product revenue to $22M, up from $10M the quarter prior. In the past I have criticized the idea that Proleukin revenues could be a leading indicator of Amtagvi revenues since I don't think weak Proleukin revenues have always precluded Amtagvi revenue growth, nor have strong Proleukin revenues guaranteed strong Amtagvi revenues. Table 1: Amtagvi, Proleukin, and Total Product Revenues by quarter. Table by Biotech Beast, numbers from press releases, regulatory filings. Amtagvi Product Revenue Proleukin Product Revenue Total Product Revenue Q2'24 $12.8M $18.3M $31.1M Q3'24 $42.1M $16.5M $58.6M Q4'24 $48.7M $25.0M $73.7M Q1'25 $43.6M $5.7M $49.3M Q2'25 $54.1M $5.9M $60.0M Q3'25 $57.5M $10.0M $67.5M Q4'25 ~$65M ~$22M $86.8M Click to enlarge Perhaps a better indicator of what lies ahead is some of the commentary from the company's CEO about 2026 expectations, albeit without guidance given just yet. After a considerable increase in fourth quarter demand for Amtagvi, enrollment volumes in 2026 are accelerating within our broad and continuous expanding network... On top of increasing demand, we are benefiting from operational improvements throughout the entire Amtagvi treatment jo...
HD Korea Shipbuilding & Offshore Engineering Co. has raised $1.55 billion from the sale of bonds that can be exchanged into shares of its unit HD Hyundai Heavy Industries Co. , according to terms of the deal seen by Bloomberg News, about $50 million more than it had initially sought. The company, which makes ships and machinery, sold the bonds exchangeable at zero coupon, the terms show. The US do...
HD Korea Shipbuilding & Offshore Engineering Co. has raised $1.55 billion from the sale of bonds that can be exchanged into shares of its unit HD Hyundai Heavy Industries Co. , according to terms of the deal seen by Bloomberg News, about $50 million more than it had initially sought. The company, which makes ships and machinery, sold the bonds exchangeable at zero coupon, the terms show. The US dollar-denominated bonds will mature on May 4, 2031, and investors have a put option after two years. HD Korea Shipbuilding priced the bonds at the low end of the range it had marketed, setting the exchange premium at 12.5% over HD Hyundai Heavy’s closing price of 465,000 won on Tuesday. The company went to market with an initial exchange price range of 523,125 won to 546,375 won a share. The deal adds to what has been a strong start to the year for the issuance of bonds that can be converted into stock. Equity-linked bonds can be attractive for borrowers because they generally offer cheaper funding than traditional debt. Last week, Taiwan-based cloud-infrastructure firm Wiwynn Corp. raised $2 billion from convertible bonds. Chinese appliance maker Midea Group Co. is considering a potential convertible bond offering that could raise as much as about $2 billion , people familiar with the matter said. Ten buyers snapped up about half of HD Korea Shipbuilding’s bonds, according to people familiar with the matter. The upsized deal was oversubscribed, the people said , asking not to be identified to discuss a private matter. A representative at HD Hyundai Co. , which controls HD Korea Shipbuilding, declined to comment. HD Korea Shipbuilding will use proceeds to fund investments, provide operating capital for its overseas operations and fund working capital for its marine-equipment business. The company will be subject to a lockup of 90 days from the bonds’ issuance. Shares of HD Korea Shipbuilding rose about 6% Wednesday, while those of HD Hyundai Heavy fell about 4%. Both compani...
European rates markets are set for the most volatile month on record, sparking chatter over the role robot traders are playing in exacerbating wild swings during the Middle East conflict. Euro two-year interest-rate swaps — used to bet on the outlook for central bank policy — have seen historic volatility in March, while for UK contracts it’s been the choppiest month since the selloff that led to ...
European rates markets are set for the most volatile month on record, sparking chatter over the role robot traders are playing in exacerbating wild swings during the Middle East conflict. Euro two-year interest-rate swaps — used to bet on the outlook for central bank policy — have seen historic volatility in March, while for UK contracts it’s been the choppiest month since the selloff that led to the ousting of former prime minister Liz Truss in 2022. That’s come as the Iran war has upended the outlook for the region’s inflation and economic growth, leading traders to flip from betting on rate cuts to hikes. Yet the speed and scale of the moves has some fund managers pointing to the greater role now being played by artificial intelligence and algorithmic trading. Advancements in AI have increased the ability of the market to process the evolving military situation as well as a volley of conflicting messages from US and Iranian officials delivered via social media. Craig Inches , head of rates and cash at Royal London Asset Management, likened the swings to a boxing match. “It does feel a little bit like getting smacked around the head every day at the moment,” he said. “The needle has definitely swung toward faster, leveraged money accounts.” Such hedge funds that use algorithmic models rather than human judgment to place trades have become a larger influence in bond and currency markets in recent years. These so-called CTAs typically increase positions when trends strengthen but can rapidly flip direction as momentum changes — as it has this month. Prior to the conflict, the trends were clear: the Bank of England was expected to cut rates and the European Central Bank was seen as staying on hold. This backdrop, as well as low volatility, had encouraged a build up of leverage by hedge funds to juice returns — positions that were then swept away by the war. “So far this year there has been extreme swings in positioning in European government bonds by CTAs,” said Mich...