Silgan Holdings supplies rigid packaging for major consumer brands, spanning food, beverage, and healthcare markets worldwide. What happened According to a Securities and Exchange Commission (SEC) filing dated Feb. 3, 2026, Bernzott Capital Advisors bought 71,353 shares of Silgan Holdings (SLGN +1.85%) during the fourth quarter of 2025. The estimated transaction value was $2.90 million, calculated...
Silgan Holdings supplies rigid packaging for major consumer brands, spanning food, beverage, and healthcare markets worldwide. What happened According to a Securities and Exchange Commission (SEC) filing dated Feb. 3, 2026, Bernzott Capital Advisors bought 71,353 shares of Silgan Holdings (SLGN +1.85%) during the fourth quarter of 2025. The estimated transaction value was $2.90 million, calculated using the average quarterly closing price. The Silgan position’s quarter-end value increased by $2.53 million, reflecting both additional shares and price fluctuations. What else to know The buy lifted Silgan to 3.9% of Bernzott’s 13F reportable assets under management. Top holdings after the filing: Vanguard Total World Stock ETF : $21.74 million (10.3% of AUM) Colombus McKinnon Corp. : $9.33 million (4.4% of AUM) Silgan: $8.21 million (3.9% of AUM) TIC Solutions : $8.01 million (3.8% of AUM) Vishay Intertechnology : $7.97 million (3.8% of AUM) As of Feb. 2, 2026, Silgan shares were priced at $43.19, down 19.86% from the prior year, underperforming the S&P 500 by 35 percentage points. Company overview Metric Value Price (as of market close February 2, 2026) $43.19 Market Capitalization $4.73 billion Revenue (TTM) $6.43 billion Net Income (TTM) $315.27 million Company snapshot Silgan Holdings manufactures rigid packaging, including metal containers, plastic closures, and custom plastic containers for consumer goods, food, beverage, personal care, healthcare, and industrial applications. The company generates revenue primarily through the sale of packaging products across three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers, leveraging a combination of direct sales, distributors, and online channels. Its main customers are consumer goods producers in North America, Europe, and internationally, serving end markets such as food, beverage, household, personal care, and healthcare. Silgan Holdings is a leading global supplier of rigid packa...
From trend to stress, why the "Friday sell-off" was not a correction I firmly believe that the vast majority of you did not buy silver in the days when we were breaking record after record at ATH and statistically deviating from any standards. If not, believe me, I am currently observing a minute of silence for you. However, Friday's sell-off in silver ( SLV ) and gold ( GLD ) was not a normal cor...
From trend to stress, why the "Friday sell-off" was not a correction I firmly believe that the vast majority of you did not buy silver in the days when we were breaking record after record at ATH and statistically deviating from any standards. If not, believe me, I am currently observing a minute of silence for you. However, Friday's sell-off in silver ( SLV ) and gold ( GLD ) was not a normal correction but a liquidation of overleveraged positions after technical extremes. The situation that has arisen normally leads to a phase of high volatility and mean reversion in the following days, not a smooth return to new highs as many traders expect. I’m basing my view on one simple shift: the market went from riding a trend to managing stress. After the FOMC's decision to keep rates at 3.5%–3.75%, an anomaly occurred in the precious metals market that should have warned people. In general, precious metals, like stocks and risky assets, benefit from lower interest rates, when money is cheap and these assets gain value. However, after the decision to keep rates unchanged, gold jumped by 5 standard deviations, up to 6.5% at one point, but with one major problem. That was liquidity. On Wednesday, it was absolutely miserable, the lowest in recent times, even for silver. Low volume and one of the largest candles on the chart in most cases precede a trend reversal, as has happened now. On Friday, SLV closed with a loss of approximately 28.6%, and gold with a loss of 10.2%. That lines up with how this market usually behaves. Silvers tends to move roughly three times as much as gold, so the swing looks proportionate. However, the reversal in gold tells us that this is not just a "silver story," but systemic stress in positioning. Currently, I expect a very wide trading range in the coming days, as well as false breakouts on both sides, when positions will be liquidated and the market will be cleared of leveraged positions. At this moment, the most expensive mistake for anyone is ...
Key Points President Trump says Project Vault will include a strategic uranium reserve. Energy Fuels has been the leading U.S. producer of natural uranium concentrate for the past several years. 10 stocks we like better than Energy Fuels › Energy Fuels (NYSEMKT: UUUU) stock skyrocketed 15.6% through noon ET Tuesday as further details emerged about President Trump's "Project Vault." Initial reports...
Key Points President Trump says Project Vault will include a strategic uranium reserve. Energy Fuels has been the leading U.S. producer of natural uranium concentrate for the past several years. 10 stocks we like better than Energy Fuels › Energy Fuels (NYSEMKT: UUUU) stock skyrocketed 15.6% through noon ET Tuesday as further details emerged about President Trump's "Project Vault." Initial reports on Project Vault broke Monday, describing it as a $11.7 billion effort to amass a strategic reserve of rare-earth metals. Rare-earth mining companies such as USA Rare Earth (NASDAQ: USAR) were first to benefit (and are popping again today). Now, investors in uranium stocks such as Energy Fuels are joining in the fun. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Because it turns out the President also wants to buy some uranium. Project Vault As CNBC confirms, "the Trump administration's Project Vault stockpile can include any of the more than 50 minerals listed as critical by the Interior Department," including "rare earths, lithium, uranium." Or as the President put it: "We're not just doing certain minerals and rare earths. We're doing everything." The bit about uranium is exciting Energy Fuels investors today. It's "has been the leading U.S. producer of natural uranium concentrate for the past several years," making it a logical choice to benefit from $11 billion-plus in government spending to stockpile uranium and other "critical" metals. Is Energy Fuels stock a buy? But Energy Fuels is not a cheap stock. "Leading producer" or not, Energy Fuels did less than $80 million in sales over the last 12 months -- and lost nearly $100 million. Its free cash flow situation is even worse, with nearly $145 million in annual cash burn. Analysts see Energy Fuels sales surging to $420 million by 2029, but even then, profits will be only $0.45 per share. This giv...
Feb 3 (Reuters) - Google-parent Alphabet is planning to dramatically expand its presence in India, with the possibility of taking millions of square feet in new office space in Bengaluru, India's tech hub, Bloomberg News reported on Tuesday. The company has leased one office tower and purchased options on two others in Alembic City, a development in the city's Whitefield tech corridor, totali...
Feb 3 (Reuters) - Google-parent Alphabet is planning to dramatically expand its presence in India, with the possibility of taking millions of square feet in new office space in Bengaluru, India's tech hub, Bloomberg News reported on Tuesday. The company has leased one office tower and purchased options on two others in Alembic City, a development in the city's Whitefield tech corridor, totaling 2.4 million square feet, the report said, citing people familiar with the deal. Alphabet did not immediately respond to a Reuters request for comment. The first tower is expected to open to employees in the coming months, while construction on the remaining two is set to conclude next year, the report said. If Alphabet does occupy all of the space, the complex could accommodate as many as 20,000 additional staff, which could more than double the company's footprint in India. Alphabet currently employs around 14,000 in the country, out of a global workforce of roughly 190,000, according to the report. (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Arun Koyyur)
Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images Nelson Peltz, the co-founder and CEO of Trian Fund Management, took aim at Disney’s ( DIS ) latest CEO succession plan during an interview at The Wall Street Journal’s Invest Live event on Tuesday. Peltz questioned the selection of parks and cruise-ship head Josh D’Amaro over entertainment Co-Chairman Dana Walden, suggesting the choi...
Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images Nelson Peltz, the co-founder and CEO of Trian Fund Management, took aim at Disney’s ( DIS ) latest CEO succession plan during an interview at The Wall Street Journal’s Invest Live event on Tuesday. Peltz questioned the selection of parks and cruise-ship head Josh D’Amaro over entertainment Co-Chairman Dana Walden, suggesting the choice was strategically designed to keep former CEO Bob Iger in power. “Iger needs a reason to stay on,” Peltz said, according to the Journal. “And if he put the person in charge of entertainment as the CEO, he wouldn’t have an excuse to stay on.” The Trian chief executive argued that by choosing an executive from the parks division rather than the entertainment side, Iger has positioned himself to remain indispensable to Disney’s core media business. Peltz predicted that Iger would eventually announce that “Josh doesn’t know anything about the movie business…Therefore, I’m gonna stay on and guide them,” according to the Journal interview. D’Amaro is set to become Disney’s CEO on March 18, while Iger will remain as a director and senior adviser until his contract expires on December 31. Peltz drew parallels to Disney’s previous leadership transition, which ended in turmoil. When Iger stepped down in 2020 in favor of former parks chairman Bob Chapek, the two executives clashed internally over control, ultimately leading to Iger’s return as CEO in 2022, the Journal reported. Peltz predicted history would repeat itself with this new transition. Disney’s board offered a starkly different view of the succession process. Chairman James Gorman, who led the succession effort, told the Journal that the committee considered more than 100 candidates before narrowing the field. Gorman, who wasn’t on Disney’s board during the Chapek era, expressed confidence in the upcoming transition, stating, “There’s no tension here. This will go down well.” The critique comes two years after Peltz twic...
Rocket Lab and Intuitive Machines are both promising space-oriented stocks. Over the past few years, many space-oriented companies have gone public by merging with special purpose acquisition companies (SPACs). Many of those stocks fizzled out after those companies failed to expand their fledgling businesses. However, two resilient SPAC-backed space stocks -- Rocket Lab (RKLB +4.74%) and Intuitive...
Rocket Lab and Intuitive Machines are both promising space-oriented stocks. Over the past few years, many space-oriented companies have gone public by merging with special purpose acquisition companies (SPACs). Many of those stocks fizzled out after those companies failed to expand their fledgling businesses. However, two resilient SPAC-backed space stocks -- Rocket Lab (RKLB +4.74%) and Intuitive Machines (LUNR +1.51%) -- survived that wash-out. Let's see why they're still both worthwhile investments today. Rocket Lab Rocket Lab produces reusable orbital rockets. It has launched its flagship rocket, the Electron, 81 times to date for the deployment of over 248 satellites. It plans to launch its second rocket, the Neutron, this year to start carrying much heavier payloads. Expand NASDAQ : RKLB Rocket Lab Today's Change ( 4.74 %) $ 3.52 Current Price $ 77.67 Key Data Points Market Cap $40B Day's Range $ 75.98 - $ 79.47 52wk Range $ 14.71 - $ 99.58 Volume 326K Avg Vol 24M Gross Margin 28.93 % Its top customers include NASA, the U.S. Space Force, the Swedish National Space Agency, Kinéis, and BlackSky Technology (BKSY +7.66%). It also recently secured an $816 million contract with the U.S. Space Development Agency to design and manufacture 18 satellites for its missile-defense satellite constellation. That contract -- its largest to date -- will diversify its business away from its core launch services. Over the long term, it plans to expand into an "end-to-end" provider of space transportation services. Wall Street expects Rocket Lab to more than double its revenue from $600 million in 2025 to $1.29 billion in 2027 as it turns profitable by the final year. It isn't a bargain at 33 times next year's sales, but it could be a great long-term play on the nascent space transportation market. Intuitive Machines Intuitive Machines produces lunar landers and exploration vehicles. It's already sent two of its Nova-C landers to the moon for NASA: IM-1 (Odysseus) in February 202...
wildpixel/iStock via Getty Images Some chinks continue to develop around the AI narrative that has driven most of the gains in equities since ChatGPT debuted in November of 2022. I have written several times that investors are underestimating the gap between what electrical generation these massive data centers will need compared to the current trajectory of planned new electrical generation capac...
wildpixel/iStock via Getty Images Some chinks continue to develop around the AI narrative that has driven most of the gains in equities since ChatGPT debuted in November of 2022. I have written several times that investors are underestimating the gap between what electrical generation these massive data centers will need compared to the current trajectory of planned new electrical generation capacity coming online in the years ahead. Something that was recently highlighted at Morgan Stanley. Morgan Stanley Research Another huge challenge that is becoming more and more apparent is that this AI infrastructure is going to cost an almost unfathomable amount to complete. Even the huge tech titans are not going to finance it off their balance sheets and free cash flow. They will also have to hope that AI-related revenues grow at a trajectory that even begins to justify these huge outlays. It is also starting to become more likely these huge expenses are going to ding both equity prices on any disappointing news, reduce profit growth at least in the near term, and pile more risk onto the credit markets as these large-cap concerns turn to creative off-balance methods to raise this enormous amount of capital. Special Purpose Vehicles are increasingly being utilized on this front. January 2026 Company Presentation Let's discuss some of the news the market has had to digest just in the past week. Last week, Microsoft ( MSFT ) had its biggest daily sell-off since Covid despite posting better-than-expected quarterly results . More than $350 billion of market capitalization dissipated in just one trading session. Revenue growth from Azure was impressive but just met the consensus. Mounting concerns about Microsoft's spending on artificial intelligence relative to its ability to monetize AI was the primary trigger for the 12% decline in the stock last Thursday. Over the past five quarters, Microsoft's spending on property and equipment has grown from $15.8 billion to $29.9 billion...
Midnight Studio/iStock via Getty Images Thesis Summary After years of being a Tesla, Inc. ( TSLA ) bull, I have recently shifted to being a bear. The reason is simple, and at this point glaringly obvious. Tesla’s fundamentals are deteriorating, and it's going to take flawless execution to really justify today’s valuation. Specifically, the recent earnings highlighted one very key thing. Tesla’s fu...
Midnight Studio/iStock via Getty Images Thesis Summary After years of being a Tesla, Inc. ( TSLA ) bull, I have recently shifted to being a bear. The reason is simple, and at this point glaringly obvious. Tesla’s fundamentals are deteriorating, and it's going to take flawless execution to really justify today’s valuation. Specifically, the recent earnings highlighted one very key thing. Tesla’s future now hinges on one specific thing that could make or break the company. I’m talking about the release of the AI5 chip. The chip will underpin Tesla’s ambitions in autonomy, robotics, and AI‑driven manufacturing. However, in order to get there, a significant amount of manpower and capital will have to be used up. As I mentioned in my last article , Tesla is spread too thin and has amassed too many competitors. With CAPEX set to more than double in 2026, this makes Tesla a money pit, and ultimately, not a great risk-reward profile for investors. Q4 Was A Mixed Bag At Best Tesla’s Q4 2025 financials provided a mixed operational picture: On the one hand, Tesla did report a beat on earnings and revenue, with $0.50 EPS and roughly $24.9 billion in revenue. TSLA in Charts (SA) On the not-so-bright side, automotive deliveries declined meaningfully, impacted by waning government incentives and intense global competition. In terms of profitability, we did see a marginal improvement in Adjusted EBITDA, but there’s clearly still a lot of pressure, and operating margin was pretty much flat. AI5: The Strategic Linchpin But without a doubt, the biggest insight from the earnings call was just how important the AI5 will be to Tesla’s future. But don’t take my word for it, just see what Musk had to say about it. Completing the AI5 chip design and having it be a great chip is arguably the number one most critical thing to get done, which is why I’m spending more time on that than currently anything else at Tesla… I spend pretty much every Saturday on this. Source: Earnings Call . So why i...
Tesla dealership with cars in lot by Jetcityimage via iStock Tesla Inc. (TSLA) Q4 earnings, released on Jan. 28, were strong, but its near-term put options still have high yields. An investor who sells short 1-month puts at $400.00 and $395.00 can make an immediate 2.50% average investment yield. That's attractive to value investors. TSLA is at $419.213 in midday trading on Feb. 3, down over 13% f...
Tesla dealership with cars in lot by Jetcityimage via iStock Tesla Inc. (TSLA) Q4 earnings, released on Jan. 28, were strong, but its near-term put options still have high yields. An investor who sells short 1-month puts at $400.00 and $395.00 can make an immediate 2.50% average investment yield. That's attractive to value investors. TSLA is at $419.213 in midday trading on Feb. 3, down over 13% from its peak of $489.88 on Dec. 16, 2025. But that's up from a recent dip of $416.26 on Jan. 29, right after its shareholder deck release the night before. TSLA hit a three-month low of $391.09 on Nov. 21, 2025. This provides a good income opportunity for investors who sell short one-month put options. I discussed this in several recent Barchart articles, including on Jan. 23 ("Tesla Inc Put Options Still Look Attractive to Short-Sellers Before Earnings Next Week") and Jan. 4 ("Tesla Stock Has Been Flat For 2 Months - How to Make a 3.2% Yield in One-Month Puts.") In both of these articles, I suggested selling short the $410.00 put option contract expiring this Friday, Feb. 6. So far, that has worked out, as the put option price has fallen. It makes sense now to consider rolling this contract over to a lower out-of-the-money (OTM) strike price. Before describing this, let's review the Tesla results. Strong Results, Including FCF Margins Tesla reported slightly lower revenue in Q4 (-3.13%), and on a full-year basis, it was down 2.93%. However, it fell by less than 1% (-0.84%) compared to Q3 revenue on a trailing 12-month basis (TTM), according to Stock Analysis. Free cash flow (FCF) fell 30% to $1.42 billion, and its FCF margins were lower in Q4, but still stayed relatively strong on a long-term basis. For example, FCF represented 5.75% of Q4 revenue, vs. just 7.91% last year, according to Stock Analysis. However, on a full-year basis, its $6.22 billion in 2025 FCF represented 6.56% of its $94.827 billion in 2025 revenue, vs. 3.67% in 2024. In addition, this was down slightly...
Volatility in the gold and silver markets will remain elevated after the precious metals crashed from all-time highs, according to Bank of America Corp. By one measure of volatility, gold prices are more unstable than at any time since the height of the 2008 financial crisis. Silver, meanwhile, hasn’t experienced this much market turmoil since 1980. The metals soared last month, extending a bliste...
Volatility in the gold and silver markets will remain elevated after the precious metals crashed from all-time highs, according to Bank of America Corp. By one measure of volatility, gold prices are more unstable than at any time since the height of the 2008 financial crisis. Silver, meanwhile, hasn’t experienced this much market turmoil since 1980. The metals soared last month, extending a blistering rally underpinned by speculators, geopolitical fears and angst over the Federal Reserve’s independence. That all came to an abrupt halt late last week, with gold suffering its biggest drop in more than a decade and silver clocking its worst day on record. “We will maintain higher volatility environments than we had historically, but not what we’ve had over the last few days unless we run up another spec bubble,” said Niklas Westermark , head of EMEA commodities trading at BofA. “We’ve had a washout now over the last two sessions that I think has cleaned up the market to a good extent.” Bullion and its cheaper sibling rebounded Tuesday as dip-buyers rushed in . Gold has a stronger, longer-term investment thesis, Westermark said. Inflated prices and turmoil may affect position sizing but not overall investor interest, he noted.
A ruling by an education watchdog that led to the University of Sussex being hit with a record £585,000 fine should be quashed as “unlawful”, “unreasonable” and “procedurally unfair”, a court has heard. In a judicial review hearing before the high court in London on Tuesday, the university claimed it had suffered “severe” consequences as a result of the landmark decision last March by England’s hi...
A ruling by an education watchdog that led to the University of Sussex being hit with a record £585,000 fine should be quashed as “unlawful”, “unreasonable” and “procedurally unfair”, a court has heard. In a judicial review hearing before the high court in London on Tuesday, the university claimed it had suffered “severe” consequences as a result of the landmark decision last March by England’s higher education regulator, the Office for Students (OfS). “The fine and the impact of the OfS’s conclusions on the university’s reputation threaten to have a significant financial impact on the university,” said Chris Buttler KC, for the university, in written submissions for the hearing. “This case is of public importance,” he said. “It concerns the scope of the OfS’s powers, the institutional autonomy of universities to foster civility and tolerance on campus, and the reputation of one of this country’s leading universities.” The OfS ruling against Sussex followed a three-and-a-half year investigation, triggered by concerns about student protests targeting Kathleen Stock, a philosophy professor at the university, over her views on gender identification and transgender rights. The court was told the OfS did not have jurisdiction to investigate the treatment of Stock, who resigned from Sussex in 2021 over what she called a “medieval experience” of campus ostracism and protests. The regulator focused instead on the wording of a two-page document called the trans and non-binary equality policy statement, which Sussex argued was based on a template adopted by a number of universities, and was updated on a number of occasions. “It [the policy statement] sought to promote the fair treatment on campus of trans and non-binary members of staff and students,” according to written submissions to the court on behalf of the university. Stock, however, raised a grievance about the 2018 policy, the court was told in written submissions, complaining that it created a “chilling effect” and ...
JHVEPhoto/iStock Editorial via Getty Images Thesis In October I wrote an article about PepsiCo ( PEP ), and my recommendation was "sell." At that time it appeared that I was somewhat of a lone wolf, but I based my thesis on the company's weakened "pricing power." My thesis has been proven exactly as I stated it would. In North America, volumes have continued to decline, which confirms the price cu...
JHVEPhoto/iStock Editorial via Getty Images Thesis In October I wrote an article about PepsiCo ( PEP ), and my recommendation was "sell." At that time it appeared that I was somewhat of a lone wolf, but I based my thesis on the company's weakened "pricing power." My thesis has been proven exactly as I stated it would. In North America, volumes have continued to decline, which confirms the price cuts of up to 15% for untouchable brands such as Doritos and Lay's. Why have I changed my rating of PepsiCo from "Sell" to "Neutral?" As a result of PepsiCo's huge announced $10 billion stock buyback program , its 4% dividend increase, and the company's direct acknowledgement that it will lower its pricing. This puts a steel floor under the stock, in my view. Additionally, as a result of Elliott's involvement in the company, we may see a clearer path. I am not buying the stock at present; I need to see real increases in volume, not just changes or financial engineering, but the risk-return profile of the stock has changed dramatically. I believe we have entered the "show me" phase. The Good: A Reality Check (and 10 Billion Reasons to Wait) While we can focus on the " earnings beat " ($2.26 vs. the analyst estimate of $2.23), I think the perspective of the analysts who look at the numbers and consider what's really going on is far more important than a single number in specific times or historic times such as today when every public company is being scrutinized to the extreme. So the good news of the quarter is clearly in the changing of attitudes: humility . Bloomberg For too long now, we have been hearing the same excuses over and over again: weather, temporary problems, and logistical bottlenecks. And so today, with the price cuts of up to 15 percent on icons such as Doritos and Lay's, for me, PepsiCo has admitted to facing reality in my view. That was the first real step in "fixing" (if you'll pardon the analogy) the problem. It is unpleasant to admit to a flawed pricing s...
Nato said on Tuesday that military planning has started for a new mission to bolster security in the Arctic, after US President Donald Trump made protecting the region central to his demands for Greenland. “Planning is under way for a Nato enhanced vigilance activity, named Arctic Sentry,” said Martin O’Donnell, a spokesman for Nato’s Supreme Headquarters Allied Powers Europe. “The activity will e...
Nato said on Tuesday that military planning has started for a new mission to bolster security in the Arctic, after US President Donald Trump made protecting the region central to his demands for Greenland. “Planning is under way for a Nato enhanced vigilance activity, named Arctic Sentry,” said Martin O’Donnell, a spokesman for Nato’s Supreme Headquarters Allied Powers Europe. “The activity will even further strengthen Nato’s posture in the Arctic and High North,” he added, without providing further details. Advertisement Trump’s threats against Greenland last month plunged the transatlantic alliance into its deepest crisis in years. The unpredictable US leader backed off his desire to take control of Denmark’s autonomous Arctic territory after saying he had struck a “framework” deal with Nato chief Mark Rutte to ensure greater American influence. 04:56 What are Trump’s motivations for wanting the US to take over Greenland? What are Trump’s motivations for wanting the US to take over Greenland? Nato said it would take steps to boost its presence in the Arctic after Trump used the alleged threat of Russia and China to justify his designs on Greenland.
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it's us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it's contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting ...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it's us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it's contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting with us, check out the Odd Lots Discord , where you can hang out and talk with us and with other listeners 24/7. Here’s what Tracy’s thinking about The crunch you hear is the sound of potato chip prices getting slashed. As part of its fourth-quarter earnings out today, PepsiCo announced that it’s lowering prices by as much as 15% for brands like Lay’s and Doritos. This is a huge turnaround for Pepsi, which spent most of the post-pandemic years raising prices to offset weak sales volume. In fact, Pepsi was basically the poster child for the strategy, which was dubbed “ price over volume ” by WisdomTree analyst (and Odd Lots guest) Samuel Rines to describe how consumer goods companies managed to post strong profits even as unit sales fell. Fast forward to today and Sam says price over volume is over: “It is now a volume driven world and Pepsi is — yet again — a first mover. And that has its advantages. Pepsi is setting the tone for being ‘affordable’ (even though that is a highly relative term). But doing so in a way where their guidance is still calling for better profit in 2026.” The important thing about today’s news is the market’s reaction to it. PepsiCo surged more than 5% this morning. After years of rewarding companies that raised their prices , investors are now cheering at least one of them for doing the exact opposite. You can bet that a few PepsiCo peers will be watching today’s stock action with great interest. And Pepsi’s move could have broader macro implications — if companies start competing on price, it could put downwards pressure on inflation (although we ...
Apple has announced a new version of Xcode, the latest version of its integrated development environment (IDE) for building software for its own platforms, like the iPhone and Mac. The key feature of 26.3 is support for full-fledged agentic coding tools, like OpenAI's Codex or Claude Agent, with a side panel interface for assigning tasks to agents with prompts and tracking their progress and chang...
Apple has announced a new version of Xcode, the latest version of its integrated development environment (IDE) for building software for its own platforms, like the iPhone and Mac. The key feature of 26.3 is support for full-fledged agentic coding tools, like OpenAI's Codex or Claude Agent, with a side panel interface for assigning tasks to agents with prompts and tracking their progress and changes. This is achieved via Model Context Protocol (MCP), an open protocol that lets AI agents work with external tools and structured resources. Xcode acts as an MCP endpoint that exposes a bunch of machine-invocable interfaces and gives AI tools like Codex or Claude Agent access to a wide range of IDE primitives like file graph, docs search, project settings, and so on. While AI chat and workflows were supported in Xcode before, this release gives them much deeper access to the features and capabilities of Xcode. This approach is notable because it means that even though OpenAI and Anthropic's model integrations are privileged with a dedicated spot in Xcode's settings, it's possible to connect other tooling that supports MCP, which also allows doing some of this with models running locally. Read full article Comments
The International Olympic Committee president, Kirsty Coventry, has given her clearest signal yet that Russia could be back for the 2028 Los Angeles Games. A day after the Fifa president, Gianni Infantino, said he wanted Russia reinstated to international football, Coventry used her opening address to the 145th IOC congress in Milan to argue that all athletes should be allowed to compete in sport ...
The International Olympic Committee president, Kirsty Coventry, has given her clearest signal yet that Russia could be back for the 2028 Los Angeles Games. A day after the Fifa president, Gianni Infantino, said he wanted Russia reinstated to international football, Coventry used her opening address to the 145th IOC congress in Milan to argue that all athletes should be allowed to compete in sport – regardless of their government’s behaviour. Her comments are likely to cause tension with Ukraine after the sports minister, Matvii Bidnyi, branded Infantino as “irresponsible” and “infantile” for attempting to draw a line between sport and politics before the IOC president ventured into the same territory. While not referencing Russia directly, Coventry said: “Throughout the campaign and in many of our conversations since, I have heard the same message from many of you. Focus on our core. We are a sports organisation. We understand politics and we know we don’t operate in a vacuum. But our game is sport. That means keeping sport a neutral ground. A place where every athlete can compete freely, without being held back by the politics or divisions of their governments. “In a world that is increasingly divided, this principle matters more than ever. It is what allows the Olympic Games to remain a place of inspiration where the athletes of the world can come together and showcase the best of our humanity.” The general understanding in Milan was that Coventry was referring to Russia’s exclusion since it launched its war on Ukraine in 2022. Her comments were also quickly welcomed by the Russian IOC member Shamil Tarpischev, who confirmed that relations with the IOC had improved significantly. “It was emphasised in her speech that the political component shouldn’t play a role,” he told German media. “Because sport is inspiration and the future. So far, everything is going smoothly and honourably. But we still have a lot of discussions to make.” Tarpischev also said he welcomed ...
Apple currently sells MacBooks equipped with its own M-series processors in a wide range of sizes and price points, all of which run the company’s newest operating system, macOS 26 . Purchasing a new MacBook can be complicated if you’re trying to figure out what specs you need, but finding a deal on a relatively speedy model is surprisingly easy, especially since Apple increased the starting RAM o...
Apple currently sells MacBooks equipped with its own M-series processors in a wide range of sizes and price points, all of which run the company’s newest operating system, macOS 26 . Purchasing a new MacBook can be complicated if you’re trying to figure out what specs you need, but finding a deal on a relatively speedy model is surprisingly easy, especially since Apple increased the starting RAM on several models in late 2024 and hasn’t stopped. These days, it’s not uncommon to see various MacBooks discounted by up to $800, although the quality of deals fluctuates frequently. Alternatively, purchasing refurbished options directly from Apple is another way to save money without waiting for the changing deal winds to blow your way. It’s also the only option to find certain configurations of older models as Apple continues to move forward with newer releases. Apple’s refurbished store offers a one-year warranty and generally discounts new units by up to 20 percent. But if you want to buy new and you’re looking to save whatever you can, here are the best MacBook Air, MacBook Pro, and Mac Mini deals available. The best MacBook Air deals M4 MacBook Air In March 2025, Apple released an updated MacBook Air , which comes in both a 13- and 15-inch configuration with an M4 processor. Interestingly, the latest Air starts at a lower price than the prior model, yet it offers slightly faster performance and twice as much base RAM at 16GB. It can also connect to two external monitors with the lid open, comes in a fresh sky blue color, and features the 12-megapixel Center Stage webcam from the latest MacBook Pro. Needless to say, there’s a lot to like. The 13- and 15-inch MacBook Airs have both previously received sizable discounts, though there aren’t any notable deals happening right now. That said, you can pick up the 13-inch base model with a 10-core CPU, an eight-core GPU, 16GB of RAM, and 256GB of storage on sale at Amazon for $849 ($150 off) if you want the midnight model, or...