Lenders to bankrupt restaurant operator FAT Brands Inc. want the chief executive officer suspended without pay over a recent stock sale for its Twin Peaks dining chain, deepening a battle for control of the company as it attempts to restructure. Creditors holding nearly $1 billion in company notes claimed that FAT Brands CEO Andrew Wiederhorn directed the sale of 9 million shares of Twin Peaks, a ...
Lenders to bankrupt restaurant operator FAT Brands Inc. want the chief executive officer suspended without pay over a recent stock sale for its Twin Peaks dining chain, deepening a battle for control of the company as it attempts to restructure. Creditors holding nearly $1 billion in company notes claimed that FAT Brands CEO Andrew Wiederhorn directed the sale of 9 million shares of Twin Peaks, a Texas-based sports bar chain, without first obtaining the necessary court approval. The lender group — which includes Brigade Capital Management LP , Barclays Capital Inc. and affiliates of Bracebridge Capital — also accused Wiederhorn of not consulting the company’s restructuring advisers or newly added independent board members, according to a Thursday court filing . FAT Brands sought court protection in January, blaming its troubles on costs and penalties associated with servicing its debt, and has since been locked in a heated power struggle with lenders. Last month, the same creditor group claimed Wiederhorn “looted” FAT Brands to pay for private jets and vacations while seeking the appointment of an independent Chapter 11 trustee. The company and Wiederhorn have denied the allegations. The company is the latest in a string of causal-dining bankruptcies. It operates about 2,200 restaurant locations in the US under 18 different brands, including Fatburger, Johnny Rockets and Twin Peaks — a Hooters competitor. Hooters went through its own bankruptcy last year. The lenders said the company sold Twin Peaks shares for $3.1 million to a private equity firm called White Lion Capital LLC , which “then resold that stock to the public for an unknown amount.” Generally, bankrupt companies must obtain court approval for major transactions while operating in Chapter 11. “The failure to request this court’s approval, as required, confirms that the debtors’ advisers and the special committee were not aware of the transaction before it closed,” the lender group said. “By the time the ...
Alina Vytiuk/iStock via Getty Images Thesis: Focus on What's Important Here's what I think about IREN Limited ( IREN ). The headline numbers this quarter still show us a business that is mostly Bitcoin mining, even though that is no longer the company’s strategic future, and management has stressed this multiple times. What grabbed a lot of investors immediately on the call is that roughly 95% of ...
Alina Vytiuk/iStock via Getty Images Thesis: Focus on What's Important Here's what I think about IREN Limited ( IREN ). The headline numbers this quarter still show us a business that is mostly Bitcoin mining, even though that is no longer the company’s strategic future, and management has stressed this multiple times. What grabbed a lot of investors immediately on the call is that roughly 95% of 2Q26 revenue came from mining, yet management is expecting that mix to flip rapidly. The projections are that Bitcoin contribution should fall considerably by year-end as AI Cloud is expected to ramp up. That's the segment that actually matters going forward, AI revenue, and it grew 136% quarter over quarter to $17 million, with management still reiterating that all major expansions are now fully funded and that power is secured. So when I heard that, I thought that they’ve now removed the two biggest historical risks in dilution and build-out uncertainty. Infrastructure under contract and GPU financing are in place, and the company is also set up nicely to move from today’s rather modest AI revenue base to a target figure of $3.4 billion run-rate by the end of calendar 2026. So in that context, the after-hours selloff we saw seems to be mainly driven by the pretty weak Bitcoin headline revenue and also some accounting noise, which I’ll explain. As for the current stock price, it has pulled back a lot, and I would view this as a good buying opportunity for those willing to hold Iren in the long run. IREN Limited 2Q26 Iren has released 2Q26 results , and the market wasn’t very impressed, to say the least, with shares sliding about 11% yesterday and a further 18% post-market. The results clearly show a company in the middle of a pretty hard but strategic pivot. For a while now, we’ve seen Iren try to push from volatile Bitcoin mining toward more long-term, contracted AI infrastructure. So the numbers still show the pain of transition and the scale of what Iren is actually try...
Key Points Centrus Energy supplies essential fuel for nuclear reactors. Centrus has deep federal backing, and its backlog already extends through 2040. 10 stocks we like better than Centrus Energy › Centrus Energy (NYSE: LEU) was among the most explosive stocks of 2025 in the energy sector, surging 500% by mid-October and exiting the year with 264.4% gains, according to data provided by S&P Global...
Key Points Centrus Energy supplies essential fuel for nuclear reactors. Centrus has deep federal backing, and its backlog already extends through 2040. 10 stocks we like better than Centrus Energy › Centrus Energy (NYSE: LEU) was among the most explosive stocks of 2025 in the energy sector, surging 500% by mid-October and exiting the year with 264.4% gains, according to data provided by S&P Global Market Intelligence. 2025 was a landmark year for the U.S. nuclear energy industry as President Donald Trump signed a series of executive orders to reform the industry and set an ambitious goal to quadruple domestic nuclear capacity to 400 GW by 2050. 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 » Although nuclear reactors use uranium fuel, mined uranium ore must be milled, converted, and enriched to become usable as nuclear fuel. As one of the few companies in the U.S. supplying enriched fuel for nuclear energy reactors and operating the only facility in the U.S. licensed to produce HALEU (high-assay, low-enriched uranium) for advanced reactors, Centrus is anchoring President Donald Trump's push for nuclear energy independence in the nation. Why 2025 was a transformational year for Centrus Centrus is working with the U.S. Department of Energy (DOE) and Oak Ridge National Laboratory to develop uranium-enrichment gas centrifuge technology. In June 2025, Centrus secured a contract extension from the DOE for an additional year of production through June 30, 2026. Centrus also hit a milestone last June when it delivered 900 kilograms of HALEU to the DOE under the second phase of its ongoing contract. The company has now proceeded to the next phase of the contract, valued at around $110 million and running through mid-2026. Centrus also announced major expansions of its Ohio uranium enrichment plant to start manufacturing centrifuges, with the first centrif...
krblokhin/iStock Editorial via Getty Images Linde ( LIN ) -2.8% in Friday's trading as J.P. Morgan downgraded the world's largest industrial gas supplier to Neutral from Overweight with a $455 price target, saying it expects similar results in 2026 to last year's flat organic volume growth and mere 2% increase in average prices, which could weigh on earnings. JPM analyst Jeffrey Zekauskas said Lin...
krblokhin/iStock Editorial via Getty Images Linde ( LIN ) -2.8% in Friday's trading as J.P. Morgan downgraded the world's largest industrial gas supplier to Neutral from Overweight with a $455 price target, saying it expects similar results in 2026 to last year's flat organic volume growth and mere 2% increase in average prices, which could weigh on earnings. JPM analyst Jeffrey Zekauskas said Linde’s ( LIN ) average consolidated sequential prices have come in flat for back-to-back quarters for the first time since tracking the metric in 2022, likely due to lower helium prices, also noting that consolidated prices of rival Air Products ( APD ) have been flat sequentially for three straight quarters, and "a flat consolidated sequential pricing dynamic increases earnings risk over the medium term." The analyst thinks Linde’s ( LIN ) trading multiples are unlikely to expand from current levels, as a base case, until the company reports "a more positive sequential pricing dynamic." More on Linde Linde Q4 2025 Earnings Call Presentation Linde: Stock Remains A 'Hold' As I Missed The Perfect Buying Opportunity Linde: Built To Compound For Decades
Earnings Call Insights: Envista Holdings Corporation (NVST) Q4 2025 Management View CEO Paul Keel stated that "all businesses posted positive growth for the quarter and year and all outgrew their respective markets in Q4, resulting in continued share gains across the portfolio." Keel indicated new product activity and clinical training were key growth drivers, with 30% more customers trained in 20...
Earnings Call Insights: Envista Holdings Corporation (NVST) Q4 2025 Management View CEO Paul Keel stated that "all businesses posted positive growth for the quarter and year and all outgrew their respective markets in Q4, resulting in continued share gains across the portfolio." Keel indicated new product activity and clinical training were key growth drivers, with 30% more customers trained in 2025 and nearly $100 million in revenues from products launched within the last 12 months. Keel highlighted operational improvements, including a $35 million reduction in G&A spending and the implementation of a $250 million share repurchase program, with over $160 million returned to shareholders in 2025. He also noted, "we refreshed our management team in mid-2024, bringing in new leaders from the outside to supplement a strong core team that was already in place." On innovation, Keel reported, "we built on this strong heritage in 2025 with key new product launches in all major businesses," mentioning four major new product introductions in Spark, new implant platforms, and launches in consumables and diagnostics. Keel summarized, "Q4 capped a strong year of progress and performance for Envista, positioning us well for continued improvement here in 2026." CFO Eric Hammes stated, "In the fourth quarter, we delivered sales of $751 million. Core sales in the quarter increased 10.8% and FX added nearly 400 basis points." Hammes explained that Q4 growth benefited from Spark deferral and lower 2024 comparables, with underlying core growth closer to mid-single digits. Hammes added, "Q4 adjusted gross margin was 55%, a decrease of 220 basis points versus the prior year due to a significant FX transaction benefit in Q4 of 2024. Our adjusted EBITDA margin for the quarter was 14.8%, which was 90 basis points better than the prior year." Outlook Keel outlined 2026 guidance: "This year, we expect core revenue growth of 2% to 4% and free cash flow conversion around 100%, both directly in...
The NFL hopes that Sunday’s Super Bowl LX between the Seattle Seahawks and New England Patriots will top last year’s record TV ratings, after a season in which the league notched its highest ratings in 36 years.
The NFL hopes that Sunday’s Super Bowl LX between the Seattle Seahawks and New England Patriots will top last year’s record TV ratings, after a season in which the league notched its highest ratings in 36 years.
Key Points Eli Lilly and Novo Nordisk dominate the weight loss drug market. Both companies have generated significant growth thanks to these drugs over the past few years. 10 stocks we like better than Eli Lilly › Over the past few years, Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) have been dominating one of the biggest growth markets in the pharma industry: the weight loss drug market. De...
Key Points Eli Lilly and Novo Nordisk dominate the weight loss drug market. Both companies have generated significant growth thanks to these drugs over the past few years. 10 stocks we like better than Eli Lilly › Over the past few years, Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) have been dominating one of the biggest growth markets in the pharma industry: the weight loss drug market. Demand for these drugs has soared -- even resulting in product shortages at times -- and analysts expect the market to reach nearly $100 billion by 2030. Novo was first to market with semaglutide, commercialized as Ozempic for type 2 diabetes and Wegovy for weight loss. Lilly then joined the market with tirzepatide, sold as Mounjaro for type 2 diabetes and Zepbound for weight loss. Both are part of the class of drugs known as GLP-1, a type of product that acts on hormones involved in blood sugar and appetite management. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Now, as we consider these two rivals, there's one figure investors shouldn't ignore. Let's check it out. Novo's first approval First, though, we'll take a quick look at the Lilly and Novo story so far. As mentioned, Novo was first to market with its injectable weight loss drugs, and these products have delivered significant growth since their market launches -- Ozempic won approval back in 2017 and Wegovy in 2021. It's often difficult for a new player to compete with such successful products, but Lilly managed to do this very well. The company won approval for Mounjaro and Zepbound in 2022 and 2023, respectively. It's been successful for a number of reasons. First, demand for these sorts of drugs is so strong that there is room for more than one player to succeed. Beyond that, though, Lilly made manufacturing investment a priority to ensure it ...
Reform UK will face a police investigation in Gorton and Denton after admitting it sent out letters from a “concerned neighbour” which did not state they had been funded and distributed by the party. Greater Manchester police confirmed it had received a report about the breach of electoral law and said it would investigate. The Electoral Commission said the omission was a matter for the police, st...
Reform UK will face a police investigation in Gorton and Denton after admitting it sent out letters from a “concerned neighbour” which did not state they had been funded and distributed by the party. Greater Manchester police confirmed it had received a report about the breach of electoral law and said it would investigate. The Electoral Commission said the omission was a matter for the police, stressing that failing “to include an imprint in candidate election material is an offence”. Dozens of voters in the Gorton and Denton constituency reported receiving letters from a pensioner written in a handwriting-style font on Friday. The letters do not include an imprint saying who they have been funded and distributed by, as required by electoral law. The author of the letter, Patricia Clegg, describes herself in the mail-outs only as a “local pensioner, 74 years old”. When contacted by the Guardian, Clegg confirmed she was a member of Reform UK and had been asked to write the letter by the party. “I was asked to support Reform; would I be willing to do a letter and put my name to it? And I said, ‘Yeah’, and I left the rest to them,” she said, when asked if she had written the letter. Asked if she was aware that the letter did not have the legally necessary imprint saying it was backed by the party, she said no one had talked to her about that issue. A Reform spokesperson said the campaign had commissioned the letter which was given to its print contractor “with the full and correct legal imprint, fully compliant with election law” but “an error occurred during the printing process”. Subsequently the legal imprint was “inadvertently removed at the point of printing” without the party’s knowledge. “At no stage did the campaign know about, authorise or intend the distribution of material without a legal imprint,” the spokesperson said. Hardings Print Solutions, in Middlesex, which printed the letter, said it “took full responsibility” for the error. A spokesperson for Gre...
STORY: Amazon's shares fell as much as 10% on Friday after the tech giant announced a $200 billion capital expenditure outlay on AI. "It seems to be that the initial selloff on a CapEx spend issue arises right after the announcement and that's kind of what we're seeing right now with Amazon," Brigati said. "So when I look forward, and looking at the opportunity for it to come back a little bit mor...
STORY: Amazon's shares fell as much as 10% on Friday after the tech giant announced a $200 billion capital expenditure outlay on AI. "It seems to be that the initial selloff on a CapEx spend issue arises right after the announcement and that's kind of what we're seeing right now with Amazon," Brigati said. "So when I look forward, and looking at the opportunity for it to come back a little bit more, I think that will ultimately happen once the market gets its footing and is accepting of the capital expenditure." He added that "buying on these dips" could put investors in "a really good spot." "If you see bigger dips than 5%, I think there's real opportunity for the market to participate," Brigati added.
The top contributors to the Dow Jones Industrial Average’s ascent from 40000 nearly two years ago to 50000 on Friday came from stocks that benefited from a strong economy and interest rates coming down with inflation. Since the Dow gives more weight to higher priced stocks, the moves of Goldman Sachs (recently trading near $930 a share) have a lot more weight than those of Apple ($275 a share). He...
The top contributors to the Dow Jones Industrial Average’s ascent from 40000 nearly two years ago to 50000 on Friday came from stocks that benefited from a strong economy and interest rates coming down with inflation. Since the Dow gives more weight to higher priced stocks, the moves of Goldman Sachs (recently trading near $930 a share) have a lot more weight than those of Apple ($275 a share). Here are the top contributors to the Dow’s rise over the past 431 trading days, since it crossed 40000 in May 2024.
The Dow Jones Industrial Average closed above 50,000 points for the first time on Friday as stocks rallied in response to a rout in tech shares earlier in the week. The closely watched index rose above 50,000 for the first time after 2 p.m. during Friday's trading session, advancing 1,206.95 points, or 2.47%, to close at 50,115.67. The S&P 500 and Nasdaq Composite also closed in the green, up 1.97...
The Dow Jones Industrial Average closed above 50,000 points for the first time on Friday as stocks rallied in response to a rout in tech shares earlier in the week. The closely watched index rose above 50,000 for the first time after 2 p.m. during Friday's trading session, advancing 1,206.95 points, or 2.47%, to close at 50,115.67. The S&P 500 and Nasdaq Composite also closed in the green, up 1.97% and 2.18%, respectively. President Donald Trump celebrated the news in a Truth Social post on Friday afternoon. STELLANTIS TAKES MASSIVE $26B HIT AFTER MOVING AWAY FROM EVS "The Dow Jones Industrial Average just hit 50,000 for the first time in History. CONGRATULATIONS AMERICA!" Trump wrote. Chip stocks surged on expectations they would benefit from increased spending on artificial intelligence (AI) data centers by Amazon and Google parent company Alphabet. Shares in Nvidia, Advanced Micro Devices and Broadcom all rose by more than 7%. Amazon's stock fell nearly 7% after announcing it planned to ramp up capital expenditures by more than 50% this year amid the AI race after a similar announcement by Alphabet Wednesday. Friday's rallies in the S&P 500 and the Nasdaq followed three consecutive days of losses amid worries about AI. "Market sentiment improved after today’s positive report out of the University of Michigan," said Jeffrey Roach, LPL Financial chief economist. "Median 1-year inflation expectations hit the lowest since January 2025, providing some comfort for investors eager to see improving inflation metrics." Several software companies saw stock declines amid investors' concerns that competition in the AI space could hurt their margins as well as questions about whether valuations have become excessive amid the AI boom. Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 50115.67 +1,206.95 +2.47% SP500 S&P 500 6932.3 +133.90 +1.97% I:COMP NASDAQ COMPOSITE INDEX 23031.213218 +490.63 +2.18% SEC CHAIRMAN WARNS OF CHINA-LINKED RAMP-AND-DUMP ACTIVITY "This ...
Never miss an episode. Follow The Big Take daily podcast today. When the Seattle Seahawks take on the New England Patriots on Sunday, more than $2.6 billion in wagers will be on the line. A growing share — $800 million — will come through prediction markets like Kalshi and Polymarket that are transforming how sports betting works in the US. On today’s Big Take podcast, professional sports gambler ...
Never miss an episode. Follow The Big Take daily podcast today. When the Seattle Seahawks take on the New England Patriots on Sunday, more than $2.6 billion in wagers will be on the line. A growing share — $800 million — will come through prediction markets like Kalshi and Polymarket that are transforming how sports betting works in the US. On today’s Big Take podcast, professional sports gambler Rufus Peabody discusses why he has shifted more of his betting to prediction markets. And markets reporter Justina Lee and sports business reporter Ira Boudway sit down with host David Gura to discuss why these markets are drawing pros like Peabody — and the concerns the platforms raise for regulators and traditional sportsbooks. Read more: Gambling Pros Adjust to a Super Bowl on the Prediction Markets Listen and follow The Big Take on Apple Podcasts , Spotify or wherever you get your podcasts. Terminal clients: click here to subscribe. This episode was produced by: Julia Press; Editors: Jeffrey Grocott; Fact-checker: Eleanor Harrison-Dengate; Sound Design/Engineer: Katie McMurran; Senior Producer: Naomi Shavin; Senior Editor: Elisabeth Ponsot; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.
Jim Cramer is a big fan of social media company Reddit , which reported a beat on the top and bottom lines Thursday. "I like the company very much, and I wish I could buy it today for my Charitable Trust," Cramer said during Friday's "Squawk on the Street." Cramer was using hyperbole to make a point. Generally, stocks like Reddit, which are prone to large swings, are not right for the Trust, the d...
Jim Cramer is a big fan of social media company Reddit , which reported a beat on the top and bottom lines Thursday. "I like the company very much, and I wish I could buy it today for my Charitable Trust," Cramer said during Friday's "Squawk on the Street." Cramer was using hyperbole to make a point. Generally, stocks like Reddit, which are prone to large swings, are not right for the Trust, the diversified portfolio used by the CNBC Investing Club. Friday trading is an example. Shares of Reddit initially jumped 9% Friday morning, but have since reversed course and are down nearly 5% in midday trading. Reddit stock has lost 35% in 2026 alone. It gained 40% in 2025. Reddit went public in March 2024, priced at $34 per share. So, even in its depressed state, the stock is up 320% since then. "They're doing incredibly well in advertising … and a lot of that is because they offer a bargain," Cramer explained. "Advertisers know that because instead of having to go give [ Meta CEO] Mark Zuckerberg a check and spend a lot of money with Insta [Instagram], their rates are incredibly low and it's targeted." Cramer noted another core part of Reddit's revenue: selling its data to large language models for training. "It's one of the greatest things in the world because they have more data," said Cramer, adding that this data will continuously sell. Reddit delivered fourth-quarter revenue of $726 million, exceeding the Street consensus of $665 million. Earnings per share came in at $1.24, compared with a 94-cent estimate. Reddit's guidance also exceeded the Street's forecasts. "We surpassed all targets, built real momentum across our business, and proved our unique community model at scale," said Reddit CEO Steven Ladd Huffman during the company's earnings call. During its earnings call, Reddit also announced a $1 billion repurchase program with no set expiration date.
Engineers at Blue Origin have been grappling with a seemingly eternal debate that involves the New Glenn rocket and the economics of flying it. The debate goes back at least 15 years, to the early discussions around the design of the heavy lift rocket. The first stage, of course, would be fully reusable. But what about the upper stage of New Glenn, powered by two large BE-3U engines? Around the sa...
Engineers at Blue Origin have been grappling with a seemingly eternal debate that involves the New Glenn rocket and the economics of flying it. The debate goes back at least 15 years, to the early discussions around the design of the heavy lift rocket. The first stage, of course, would be fully reusable. But what about the upper stage of New Glenn, powered by two large BE-3U engines? Around the same time, in the early 2010s, SpaceX was also trading the economics of reusing the second stage of its Falcon 9 rocket. Eventually SpaceX founder Elon Musk abandoned his goal of a fully reusable Falcon 9, choosing instead to recover payload fairings and push down manufacturing costs of the upper stage as much as possible. This strategy worked, as SpaceX has lowered its internal launch costs of a Falcon 9, even with a new second stage, to about $15 million. The company is now focused on making the larger Starship rocket fully reusable. Read full article Comments
labsas/iStock Unreleased via Getty Images There's an attractive bull case for Capri Holdings Limited ( CPRI ) at the moment. After a difficult few years highlighted by missteps around the core Michael Kors brand and the aborted acquisition by Tapestry, Inc. ( TPR ), Capri seems to have righted the proverbial ship. Calendar year 2025 results steadily improved. Management has talked up improved full...
labsas/iStock Unreleased via Getty Images There's an attractive bull case for Capri Holdings Limited ( CPRI ) at the moment. After a difficult few years highlighted by missteps around the core Michael Kors brand and the aborted acquisition by Tapestry, Inc. ( TPR ), Capri seems to have righted the proverbial ship. Calendar year 2025 results steadily improved. Management has talked up improved full-price selling, better product, and a return to the legacy Kors brand after a "transformation" attempt largely failed. Tariffs have been a factor so far in fiscal 2026 (ending March), but help should be on the way in FY27. In that context, current valuation of ~10-11x FY26 EBITDA (and ~15x the midpoint of EPS guidance, though as we'll discuss EPS is benefiting from a non-operational tailwind at the moment) seems more than reasonable. Indeed, if Capri can hit its targets, the stock has the potential to more than double. That upside is all the more attractive given that hitting the targets requires little more than getting Michael Kors and smaller Jimmy Choo back to where they once were. But that last sentence also highlights the core problem: the two businesses remaining (after Versace was sold in early December) aren't where they were. In fact, they're not all that close. And in that context, the seeming improvement in the business over the past few quarters may have as much to do with easy year-prior comparisons as it does with better execution. It's that core concern that keeps me on the sidelines ahead of a calendar 2026 in which Capri admittedly can prove me wrong. The Capri Turnaround Again, the qualitative case for CPRI is that management has fixed its errors. The acquisitions of Choo and then Versace leveraged up the balance sheet; the sale of Versace removed that issue. Net debt is now ~$80 million, or less than 0.4x this year's EBITDA. For Kors, as chief executive officer John Idol put it at a conference in December, "the company looked at a complete transformation...
Torsten Asmus/iStock via Getty Images Introduction Ares Management Corporation ( ARES ) has seen a tumultuous period since I last gave it a Buy rating earlier in October , as the stock has lost around 14.5% since. That has been mainly linked to the current dynamics of the alternative asset management landscape due to accounting volatility. With Ares just releasing its Q4 and seeing how poorly the ...
Torsten Asmus/iStock via Getty Images Introduction Ares Management Corporation ( ARES ) has seen a tumultuous period since I last gave it a Buy rating earlier in October , as the stock has lost around 14.5% since. That has been mainly linked to the current dynamics of the alternative asset management landscape due to accounting volatility. With Ares just releasing its Q4 and seeing how poorly the market has reacted, I believe that it is important to review my buy thesis on the company and tell you why the drop in stock price is a buying opportunity, especially as the company crossed $600B in assets under management . Current Dynamics If there was one particular theme that I would need to highlight for the company’s quarter, it would be the surge in fundraising and subsequent deployment that cleared the apparent deal dam, which was previously restricting private markets over the past period. Thus, Ares reported a record $113B in total fundraising for the year , with $36B coming in in Q4 alone. And it is important to highlight that this was accomplished without the presence of the firm’s two largest private credit campaign funds in the market. Meaning that the firm has reached a level of maturity, allowing for consistent capital inflows across a broad array of strategies. But the company still reported a double miss with EPS coming in at $1.45 , below what analysts were estimating at roughly $1.7, but still an increase Y/Y. Revenue came in at $1.5B, below the $1.52B forecasted, but again still a solid Y/Y increase. The stock dropped like a stone following this, which I do not really understand, and it might just be yet another example of the short-termism of the market. The scale that I mentioned earlier is why I believe that Ares is prone to have a strong 2026 ahead, especially as it transformed itself into the Alternative Asset Supermarket, which was boosted by the acquisition of GCP International. It is also relevant to mention that the company has hiked its divide...
March NY world sugar #11 (SBH26) today is down -0.09 (-0.63%), and March London ICE white sugar #5 (SWH26) is down -2.00 (-0.49%). Sugar prices are moving lower today as they consolidate above Monday's significant lows. On Monday, NY sugar fell to a 2.5-month low, and London sugar dropped to a 5-year low, as the outlook for global sugar surpluses and higher global production has hammered prices. U...
March NY world sugar #11 (SBH26) today is down -0.09 (-0.63%), and March London ICE white sugar #5 (SWH26) is down -2.00 (-0.49%). Sugar prices are moving lower today as they consolidate above Monday's significant lows. On Monday, NY sugar fell to a 2.5-month low, and London sugar dropped to a 5-year low, as the outlook for global sugar surpluses and higher global production has hammered prices. Unica reported today that Brazil's cumulative 2025-26 Center-South sugar output through mid-January rose by +0.9% y/y to 40.236 MMT. Also, the ratio of cane crushed for sugar rose to 50.78% in 2025/36 from 48.15% in 2024/25. Don’t Miss a Day: The outlook for global sugar surpluses to persist is weighing on prices. On Wednesday, analysts from sugar trader Czarnikow said they expect a global sugar surplus of 3.4 MMT in the 2026/27 crop year, following an 8.3 MMT surplus in 2025/26. Last Thursday, Green Pool Commodity Specialists said that they expect a 2.74 MMT global sugar surplus for 2025/26 and a 156,000 MT surplus for 2026/27. Also, StoneX said last Friday it expects a global sugar surplus of 2.9 MMT in 2025/26. The India Sugar Mill Association (ISMA) reported January 19 that India's 2025-26 sugar output from Oct 1-Jan 15 is up +22% y/y to 15.9 MMT. The ISMA on November 11 raised its 2025/26 India sugar production estimate to 31 MMT from an earlier forecast of 30 MMT, up +18.8% y/y. The ISMA also cut its estimate for sugar used for ethanol production in India to 3.4 MMT from a July forecast of 5 MMT, which may allow India to boost its sugar exports. India is the world's second-largest sugar producer. Sugar prices have been weighed down amid prospects of higher sugar exports from India, after India's food secretary said the government may permit additional sugar exports to reduce a domestic supply glut. In November, India's food ministry said it would allow mills to export 1.5 MMT of sugar in the 2025/26 season. India introduced a quota system for sugar exports in 2022/23 a...
The Dow Jones Industrial Average broke above the 50,000 level for the first time, as investors bid up the blue-chip gauge amid optimism over the US economy and corporate earnings. The 30-member index — comprised of household names like Goldman Sachs Group Inc., Coca-Cola Co. and JPMorgan Chase & Co. — rose 2.2% to 50,014.81 at 2:24 p.m in New York. The gauge is up 4% this year, outperforming all m...
The Dow Jones Industrial Average broke above the 50,000 level for the first time, as investors bid up the blue-chip gauge amid optimism over the US economy and corporate earnings. The 30-member index — comprised of household names like Goldman Sachs Group Inc., Coca-Cola Co. and JPMorgan Chase & Co. — rose 2.2% to 50,014.81 at 2:24 p.m in New York. The gauge is up 4% this year, outperforming all major US equity indexes. The average, which fell below 40,000 in April when President Donald Trump unveiled sweeping tariff plans, has since rallied 33% on a combination of interest-rate cuts and increasing optimism on the prospect of economic growth. In the last six months, sharp gains from Goldman Sachs Group Inc. and Caterpillar Inc. have driven more than half of the advance in the blue-chip index. Shares of Goldman have climbed 31% in the last six months, while the maker of signature yellow diggers Caterpillar has gained 85%. “Hitting 50,000 makes for a lot of bullish headlines - and President Trump will push it all he can,” said Matt Maley , chief market strategist at Miller Tabak + Co LLC. “As much as the tech group is still critically important, these moves confirm the rotation in the market seems to be working.” The Dow could reach 70,000 points by the end of the decade in a “Roaring 2020s” scenario where the US economy continues to expand through the period, according to Ed Yardeni , president and chief investment strategist at Yardeni Research Inc. “We are pleased to see that Dow Theory agrees with our upbeat outlook,” Yardeni said in a note last month. “Such mutual confirmations have signaled more economic growth ahead,” Yardeni said. Coined around the turn of the 20th century by Charles Dow, who invented the Dow Jones Industrial Average and the Dow Jones Transportation Average , the Dow Theory states that a move by the industrials index must be confirmed by the transportation index, or vice versa, for a true market trend to take hold. The transportation index has...