Steam rises from a stack outside the POET LLC ethanol biorefinery in Gowrie, Iowa, U.S., on Friday, May 17, 2019. Stockpiles of U.S. corn ethanol sank to the smallest since July even as production of the biofuel climbed, Department of Energy data showed on Wednesday.
Steam rises from a stack outside the POET LLC ethanol biorefinery in Gowrie, Iowa, U.S., on Friday, May 17, 2019. Stockpiles of U.S. corn ethanol sank to the smallest since July even as production of the biofuel climbed, Department of Energy data showed on Wednesday.
RHJ/iStock via Getty Images Wheaton Precious Metals ( WPM ) up 4.6% in Friday's trading as UBS upgraded shares to Buy from Neutral with a $160 price target, saying it expects the company to enter a volume growth phase targeting ~70% growth in gold equivalent oz by 2030 compared to FY 2025, which should drive superior earnings vs. peers without further upside in gold or silver prices. Gold equivale...
RHJ/iStock via Getty Images Wheaton Precious Metals ( WPM ) up 4.6% in Friday's trading as UBS upgraded shares to Buy from Neutral with a $160 price target, saying it expects the company to enter a volume growth phase targeting ~70% growth in gold equivalent oz by 2030 compared to FY 2025, which should drive superior earnings vs. peers without further upside in gold or silver prices. Gold equivalent production has remained rangebound at 600K-700K oz over the past five years, while Wheaton ( WPM ) has traded at 22x 12-month forward consensus enterprise value to EBITDA, with earnings growth driven by higher precious metal prices; the stock currently trades at ~15x 2027 enterprise value to EBITDA, representing a 30% discount to its five-year average, and UBS analyst Daniel Major said the market is not pricing in the company's diversified and low-risk organic growth. Wheaton ( WPM ) is differentiated from large-cap gold miners and streamers by the magnitude and diversification of its growth, which Major said reduces execution risk as no single project dominates the company's growth profile; the analyst expects the company to acquire more streams and royalties to supplement growth, reducing single-asset exposure and earnings volatility. More on Wheaton Precious Metals Wheaton Precious Metals: Gift Of The Cartel Wheaton Precious Metals: Wait For Risk Claification Wheaton Precious Metals Q4 2025 Earnings Call Presentation
simpson33/iStock via Getty Images This is my eighth Organogenesis ( ORGO ) article, following most recently 12/2025's "Organogenesis: High-Tech Skin Substitute Company On Sale ." I have been emboldened rather than discouraged by its ~50% drop since On Sale was published. The big question is whether it's a bargain or a falling knife. After smashing Q4 2025 revenue expectations, guidance coldcocked ...
simpson33/iStock via Getty Images This is my eighth Organogenesis ( ORGO ) article, following most recently 12/2025's "Organogenesis: High-Tech Skin Substitute Company On Sale ." I have been emboldened rather than discouraged by its ~50% drop since On Sale was published. The big question is whether it's a bargain or a falling knife. After smashing Q4 2025 revenue expectations, guidance coldcocked Organogenesis shares Organogenesis reported a superlative Q4 2025 with revenues that handily surpassed analysts's expectations; the release reported: Revenue of $225.1 million (+77.7% Y/Y), a beat of $52.42 million, and Q4 GAAP EPS of $0.24, a beat of $0.03. Its release reported this great news and then added a spoiler in terms of the very important outlook for the upcoming year 2026. In this regard, the release turned downbeat when it guided expectations for 2026, as stated below: Fiscal Year 2026 Outlook: For the year ending December 31, 2026, the Company expects: Total net revenue between $350.0 million and $420.0 million, representing a decline in the range of 25% to 38%, as compared to total net revenue of $564.2 million for the year ended December 31, 2025 . (emphasis added) The 2026 total net revenue guidance range assumes a significant year-over-year decline in revenue for the three months ending March 31, 2026, and strong quarter-over-quarter growth in the second, third and fourth quarters of fiscal year 2026. A revenue drop of up to 38% is a huge deal, particularly in today's economic climate garbled by the war in the Middle East. Insofar as the release was issued nearly 2/3rds of the way through Q1 2026 on 2/26/2026, its Q1 2026 was mostly already in the bag at the time it published this outlook. In other words, its outlook for the quarter was likely based on more than dour speculation. It's no easy task to wrap one's mind around this report's significance for Organogenesis' expected subsequent quarterly revenues. Its annual revenues for 2026 were estimated at $3...
Forty-two years ago, right about now, I was a third-year law student trading options between classes as if they were cold Cokes on a sweltering day. I loved the semiconductors back then — National Semi, Texas Instruments, and Motorola. I also worshipped IBM, always long those calls, and Monolithic Memories was my favorite spec. It's good to have one spec. I was crushing it, able to pay off my Banc...
Forty-two years ago, right about now, I was a third-year law student trading options between classes as if they were cold Cokes on a sweltering day. I loved the semiconductors back then — National Semi, Texas Instruments, and Motorola. I also worshipped IBM, always long those calls, and Monolithic Memories was my favorite spec. It's good to have one spec. I was crushing it, able to pay off my Banco Popular, Chase, Chemical, and Harvard Trust credit cards, only three left, and crunched a chunk of student debt, too. But then I had the misfortune to have a toothache, and a classmate of mine said, "Go see Dr. Traurig in Back Bay, he's the best." It was one of the worst financial decisions I have ever made, not because Traurig cost a fortune, he really did, but because he had a financial magazine in the waiting room, and the cover story told you that it was time to cash in on tech. It was too dangerous. People were making so much money, being greedy, but a squall was coming, one that could morph into a Cat 5 hurricane any minute. I remember cursing myself for getting drilled right into the close of trading and having to wait until the next day to extricate myself from all the tech call options. That magazine, that skeptical journalist, the one who pronounced it a watershed moment for technology, kept me from paying off the rest of my credit card debt before I got to New York to start working full-time at Goldman Sachs . Sure enough, he was right. Tech was dead, at least for the next three weeks. Then it rose, like Lazarus, and went on for another 42 years, meaning, until now. The question for me is: How many people have been blown out like me in that dentist's chair? Scared and frightened, the only way to relieve the pain is to sell. That's the real reason why so few people make money in the stock market. I now stick with the best of tech. You know why? Not because tech is something special. But because there is a group of amazing companies at any given time with tremend...
ArLawKa AungTun/iStock via Getty Images Amid recent market turbulence, investors are shifting their focus back to premium real estate assets, according to Jonathan Goldstein, co-founder and CEO at investment management firm Cain. “Real estate was seen as a bit of an unloved class,” Goldstein said during a CNBC interview. “But I think, with the volatility that people have seen over the recent times...
ArLawKa AungTun/iStock via Getty Images Amid recent market turbulence, investors are shifting their focus back to premium real estate assets, according to Jonathan Goldstein, co-founder and CEO at investment management firm Cain. “Real estate was seen as a bit of an unloved class,” Goldstein said during a CNBC interview. “But I think, with the volatility that people have seen over the recent times, people are going to gravitate back towards the best-in-class real estate.” The CEO acknowledged that the current lending environment remains difficult for many developers but noted that premier properties continue to attract capital. “These properties are difficult to get financed in this marketplace. It’s a challenging marketplace,” he said. “But when you’ve got great execution, great brands, great real estate, great fundamentals, then, you know, you get the support of the marketplace.” Cain is finding success in what Goldstein described as “great gateway cities” that demonstrate resilience amid economic uncertainty. Beyond Beverly Hills, the firm is preparing to reopen the Delano Hotel in Miami Beach within weeks, reinforcing its thesis around high-end hospitality and residential developments. Cain has closed $4.3B in financing led by JPMorgan and VICI to complete development of One Beverly Hills, marking one of the largest deals of its kind in the last decade. The milestone represents a vindication of the firm’s vision for what co-founder and CEO Jonathan Goldstein called “the greatest development in North America.” Looking globally, Goldstein expressed optimism about long-term opportunities in the Middle East despite current geopolitical tensions. He predicted that Gulf countries will be “one of the great growth areas over the next 10, 15 years,” citing confidence in their infrastructure and capability to weather difficult periods. The financing deal underscores how the market is aligning with the investment strategy Goldstein and partner Todd Bodley have built over s...
winhorse/iStock Unreleased via Getty Images Introduction Nike, Inc. ( NKE ) has been an underwhelming investment for the past decade, with its share price down more than 70% in the past decade. Although we've seen a lot of economic shocks like COVID, inflation, rate hikes, and now the war with Iran, NKE's competitive advantage has waned after a strong 6-year run until 2021. Since then, the company...
winhorse/iStock Unreleased via Getty Images Introduction Nike, Inc. ( NKE ) has been an underwhelming investment for the past decade, with its share price down more than 70% in the past decade. Although we've seen a lot of economic shocks like COVID, inflation, rate hikes, and now the war with Iran, NKE's competitive advantage has waned after a strong 6-year run until 2021. Since then, the company has seen growth slow and competitors emerge, leading to compressed margins. Specifically, their performance has been led by persistent headwinds in their Greater China region. They've also been impacted by deteriorating demand in their Converse brand . And I wouldn't be surprised to see the company offload Converse in the near future to speed up its turnaround. While the company's turnaround seems to be in motion, I think it's unlikely for the company to gain any traction for at least another year or two due to macro uncertainty. But if they can continue seeing modest improvements in the next 2 to 3 quarters, then I believe it's possible they can see at least $60 by year's end. In this article, I discuss Nike's fundamentals, what could drive price appreciation, and what investors should expect for their upcoming Q3 earnings report. Previous Thesis During my last article this past December, I downgraded Nike from a buy to a hold, particularly due to headwinds pushing margins lower. Despite some improvements, margins fell 300 basis points to 40.6%. They managed to post a double beat with EPS beating estimates by $0.16, amounting to $0.53. Revenue grew 1% to $12.4 billion, surpassing the analyst consensus of $12.21 billion. But persistent headwinds in international segments and an elevated forward P/E of 37.7x limited upside in my opinion. The balance sheet and dividend sustainability were positives, but I didn't expect NKE to show any major improvements for the near term. Since then, the stock has continued to decline, down an additional 11% compared to the S&P ( SP500 ), do...
Pete Wilcox says point of investigation into infamous 1984 clashes with police is to ‘enable communities to move on’ Former miners will finally get the chance to speak the truth about their experiences after four decades of silence during a public inquiry into infamous clashes with police at Orgreave, the inquiry’s chair has said. Pete Wilcox, the bishop of Sheffield, said only an inquiry could he...
Pete Wilcox says point of investigation into infamous 1984 clashes with police is to ‘enable communities to move on’ Former miners will finally get the chance to speak the truth about their experiences after four decades of silence during a public inquiry into infamous clashes with police at Orgreave, the inquiry’s chair has said. Pete Wilcox, the bishop of Sheffield, said only an inquiry could help South Yorkshire move on from the events of 18 June 1984, when striking miners unexpectedly found themselves in a pitched battle against thousands of police officers brought in from forces across the UK. Continue reading...
A video sccreen shows the Fortnite - Battle Royale video game during the Gamescom video games trade fair at the Trade Fair Center in Cologne, western Germany, on August 21, 2025. The 2025 edition of the vast Gamescom trade fair in Cologne, Germany, had its opening night on August 19, 2025 and will be running from August 20 to 24, 2025. (Photo by Ina FASSBENDER / AFP) (Photo by INA FASSBENDER/AFP v...
A video sccreen shows the Fortnite - Battle Royale video game during the Gamescom video games trade fair at the Trade Fair Center in Cologne, western Germany, on August 21, 2025. The 2025 edition of the vast Gamescom trade fair in Cologne, Germany, had its opening night on August 19, 2025 and will be running from August 20 to 24, 2025. (Photo by Ina FASSBENDER / AFP) (Photo by INA FASSBENDER/AFP via Getty Images) Photographer: INA FASSBENDER/AFP