Janus Henderson Investors, an investment management company, released its “Forty Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. shares increased following positive news about corporate earnings. Economic growth has remained relatively stable despite challenges such as a government shutdown, policy headwinds, and slower-than-expected employment growth. ...
Janus Henderson Investors, an investment management company, released its “Forty Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. shares increased following positive news about corporate earnings. Economic growth has remained relatively stable despite challenges such as a government shutdown, policy headwinds, and slower-than-expected employment growth. Excitement around artificial […]
Zhang Lan. Photo: VCG A U.S. federal court has ordered the seizure of two paintings valued at a combined $29.1 million that were purchased by celebrity restaurateur Zhang Lan, ruling that she fraudulently attempted to hide the assets from creditors. In a March 24 decision, the U.S. District Court for the Southern District of New York authorized the seizure of Andy Warhol’s “Little Electric Chair” ...
Zhang Lan. Photo: VCG A U.S. federal court has ordered the seizure of two paintings valued at a combined $29.1 million that were purchased by celebrity restaurateur Zhang Lan, ruling that she fraudulently attempted to hide the assets from creditors. In a March 24 decision, the U.S. District Court for the Southern District of New York authorized the seizure of Andy Warhol’s “Little Electric Chair” and an untitled self-portrait by Martin Kippenberger. The ruling marks a major step in a decade-long legal battle by private equity firm CVC Capital Partners to collect on a nine-figure arbitration award against Zhang.
evemilla/iStock Unreleased via Getty Images Unilever’s ( UL ) discussions to spin off then sell its food business to McCormick could include a provision for Unilever’s ( UL ) shareholders to obtain a majority stake in the new entity, according to sources cited by Reuters. The British conglomerate received an offer for its food business last week from McCormick ( MKC ) for an unspecified amount. Th...
evemilla/iStock Unreleased via Getty Images Unilever’s ( UL ) discussions to spin off then sell its food business to McCormick could include a provision for Unilever’s ( UL ) shareholders to obtain a majority stake in the new entity, according to sources cited by Reuters. The British conglomerate received an offer for its food business last week from McCormick ( MKC ) for an unspecified amount. The proposed deal would spin off the food business before selling it to McCormick, arranged as a Reverse Morris Trust (RMT), a common reorganization strategy when the buyer is smaller than the seller. The RMT also allows a company to divest a subsidiary to a third party without incurring capital gains taxes. Under Section 355 (e) of the IRS Code, RMT deals are structured to give shareholders of the parent company at least 50% ownership in the combined entity. Unilever’s ( UL ) food business is reportedly valued between $32B and $35.8B, including debt, while McCormick’s ( MKC ) enterprise value is pegged at $18B, including debt. Reuters’ sources claim negotiations are progressing “quickly.” Shares of Unilever ( UL ) and McCormick ( MKC ) are both higher on Friday by 0.20% and 3%, respectively. More on Unilever, McCormick McCormick Q1 Earnings Preview: A Cool Valuation For This Spice Leader Unilever: Portfolio Reshaping Advances With Food Business Under Review Unilever: Relatively Anemic In 2026, I Say 'Hold' Unilever in talks to sell its food business to McCormick Kraft Heinz, Unilever held talks about a food merger - FT
Vanguard Russell 1000 Growth ETF (NASDAQ:VONG) and iShares Russell 2000 Growth ETF (NYSEMKT:IWO) target U.S. growth stocks but differ sharply on cost, portfolio size, and sector focus, with VONG leaning toward large-cap tech and IWO spanning a wider range of small-cap growth names. VONG and IWO both aim to capture U.S. growth stocks. Still, their approaches are distinct: VONG focuses on large-cap ...
Vanguard Russell 1000 Growth ETF (NASDAQ:VONG) and iShares Russell 2000 Growth ETF (NYSEMKT:IWO) target U.S. growth stocks but differ sharply on cost, portfolio size, and sector focus, with VONG leaning toward large-cap tech and IWO spanning a wider range of small-cap growth names. VONG and IWO both aim to capture U.S. growth stocks. Still, their approaches are distinct: VONG focuses on large-cap growth, dominated by technology giants, while IWO targets small caps, offering a more diversified but riskier profile. This comparison unpacks cost, performance, risk, and underlying holdings to help investors decide which style may appeal more. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The one-year return represents total return over the trailing 12 months. Continue reading
fuzznails/iStock via Getty Images Investment Overview The stock of Palo Alto, California based Kodiak Sciences Inc. ( KOD ) soared in value yesterday, reaching a high of $75 per share (market cap of $2.43bn), as the company announced positive results from its GLOW2 Phase 3 superiority study of Zenkuda (tarcocimab tedromer) in patients with diabetic retinopathy ("DR") - a progressive eye disease ca...
fuzznails/iStock via Getty Images Investment Overview The stock of Palo Alto, California based Kodiak Sciences Inc. ( KOD ) soared in value yesterday, reaching a high of $75 per share (market cap of $2.43bn), as the company announced positive results from its GLOW2 Phase 3 superiority study of Zenkuda (tarcocimab tedromer) in patients with diabetic retinopathy ("DR") - a progressive eye disease caused by damaged blood vessels leaking blood and fluid into the retina. According to a press release shared by Kodiak yesterday: Building on the success of GLOW1 and with all patients on a 6-month dosing interval, Zenkuda (tarcocimab tedromer) demonstrated superiority to sham with 62.5% of Zenkuda-treated patients achieving a ≥2-step improvement in diabetic retinopathy severity score (DRSS) compared to 3.3% of sham-treated patients (p<0.0001). Zenkuda also demonstrated superiority to sham with an 85% risk reduction in the key secondary endpoint of development of sight threatening complications (2.4% with Zenkuda vs 15.8% with sham, p=0.0001) and with a ≥3-step improvement in DRSS (13.7% with Zenkuda vs 0% with sham, p<0.0001). In its Q3 2025 quarterly report / 10-Q filing , Kodiak states: Tarcocimab is an investigational anti-VEGF therapy built on Kodiak's proprietary Antibody Biopolymer Conjugate (“ABC”) Platform and is designed to maintain potent and effective drug levels in ocular tissues for longer than existing available agents. To date, tarcocimab has completed three successful Phase 3 pivotal clinical studies: the Phase 3 GLOW1 study in DR, the Phase 3 BEACON study in RVO (retinal vein occlusion) and the Phase 3 DAYLIGHT study in wet AMD (advanced macular degeneration. In the GLOW1 study, tarcocimab successfully treated DR patients and prevented disease progression with 100% of patients on extended 6-month dosing. In the BEACON study, in the first 6 months tarcocimab-treated patients were dosed on every 8-week interval (as opposed to every 4-week interval for afliberc...
Royal Court theatre, London A class on The Crucible unearths troubling parallels for a group of teen girls in Kimberly Belflower’s play set in the wake of the Weinstein scandal Kimberly Belflower’s revisionist take on Arthur Miller’s classic The Crucible re-spins the witch-hunts for the #MeToo generation. A classroom of teenagers – mostly girls – want to set up a feminist club, which is sparked, y...
Royal Court theatre, London A class on The Crucible unearths troubling parallels for a group of teen girls in Kimberly Belflower’s play set in the wake of the Weinstein scandal Kimberly Belflower’s revisionist take on Arthur Miller’s classic The Crucible re-spins the witch-hunts for the #MeToo generation. A classroom of teenagers – mostly girls – want to set up a feminist club, which is sparked, you assume, by the news headlines. Set in 2018, it is an original way to deal with adolescent girlhood in the direct fallout of the Harvey Weinstein scandal, although the play takes a while to gather power. Beth (Holly Howden Gilchrist) is the class swot; Ivy (Clare Hughes) has a father accused of inappropriate behaviour at work; Nell (Lauryn Ajufo) is the new girl; Raelynn (Miya James) is a pastor’s daughter whose ex-boyfriend cheated on her with Shelby (Sadie Soverall). The last of these is key to proceedings but is absent from school – and this play – for quite a while. Continue reading...
Everybody wants their investments to go up in value. But what many people don't realize until they've been investors for a while is that they also want to realize those gains without having to endure a lot of downward volatility along the way. Unfortunately, that's not the way things work, and many of the individual stocks that have been the best long-term performers have forced their shareholders...
Everybody wants their investments to go up in value. But what many people don't realize until they've been investors for a while is that they also want to realize those gains without having to endure a lot of downward volatility along the way. Unfortunately, that's not the way things work, and many of the individual stocks that have been the best long-term performers have forced their shareholders to endure gut-wrenching drops that have tested their conviction and discipline. Indeed, for some, the decision to invest in exchange-traded funds rather than individual stocks stems from a willingness to tamp down some of that volatility. Yet ETF investing doesn't always mean a reduction in volatility. Part of the goal that Cathie Wood had in founding her ARK Invest asset management company was to offer actively managed portfolios in an ETF format that would aggregate some of the most volatile stocks in the market. ARK Innovation ETF (NYSEMKT: ARKK) has had an illustrious track record, but it has come with huge bumps in the road. In the second article in this three-part series on ARK Innovation for the Voyager Portfolio , you'll get the details on how the fund has performed over time. Image source: Getty Images. Continue reading
JHVEPhoto/iStock Editorial via Getty Images Lumentum ( LITE ) is one of the more interesting plays in the AI space. The stock is not an easy call. My general view is that Lumentum's business is strong. Revenue growth is accelerating, margin expansion is happening quickly, supply is tight and Nvidia's involvement only underscores Lumentum's importance in optical infrastructure. The reason I remain ...
JHVEPhoto/iStock Editorial via Getty Images Lumentum ( LITE ) is one of the more interesting plays in the AI space. The stock is not an easy call. My general view is that Lumentum's business is strong. Revenue growth is accelerating, margin expansion is happening quickly, supply is tight and Nvidia's involvement only underscores Lumentum's importance in optical infrastructure. The reason I remain bullish is Optical Circuit Switching (OCS) and Co-Packaged Optics (CPO) look like they’re just getting started, not finishing. The problem is valuation is demanding and doesn't leave much room for error. Lumentum’s Real Story Isn’t Growth, It’s Margin Power What’s tempting is to look at Lumentum and talk about revenue acceleration. It’s easy, it’s obvious, it’s appealing but I don’t think that’s where I think the real story sits anymore. What I find interesting is how quickly this company has completely flipped its entire margin profile. From a business that was still suffering from trough-era underutilization issues to a business where all of those drivers, mix, price, yield and supply, are all working in its favor. Gross margins expanding from 32.3% in Q2 FY2025 to 42.5% in Q2 FY2026 is not a cyclical move. Management said that was driven by improved factory utilization, selective pricing and a rich mix driven by data center laser chips. I find that interesting because Lumentum is not simply selling more into a hot market but they are selling increasingly scarce, high-value components into a market that still needs more than it can supply. Data by YCharts Indium phosphide is fully allocated, that planned 40% capacity increase is already pulled forward and EML capacity is spoken for through 2027 under long-term contracts. What I find more interesting is that customers are asking for more incremental supply than that and that opens the door for price discussions. This is no longer a transactional supply chain. This is starting to look like a supply chain where we could see ...
Booz Allen (BAH) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Booz Allen (BAH) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Denison Mine (DNN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Denison Mine (DNN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
The popular fitness trend is all over social media, and curious, I tried a few classes – they left me totally out of air I have spent years in and out of the gym, trying the latest fitness trends. Consequently, my social media feed often populates with shirtless, sweaty men promising to transform my workouts. Then it started. First, it was the occasional video of athletes grinding through a series...
The popular fitness trend is all over social media, and curious, I tried a few classes – they left me totally out of air I have spent years in and out of the gym, trying the latest fitness trends. Consequently, my social media feed often populates with shirtless, sweaty men promising to transform my workouts. Then it started. First, it was the occasional video of athletes grinding through a series of Herculean tasks: pushing plate-laden sleds, collapsing over rowing machines, sprinting laps and throwing weighted balls at a wall inside of what looked like an aircraft hangar. That trickle became an avalanche, and I became curious. Continue reading...
From alcohol-free fizz to sips as dirty and spicy as they come – quench your seasonal thirst with these twisted classics From alcohol-free kir royal at the top to punchy pours toward the bottom, we have all your spring sips covered. Continue reading...
From alcohol-free fizz to sips as dirty and spicy as they come – quench your seasonal thirst with these twisted classics From alcohol-free kir royal at the top to punchy pours toward the bottom, we have all your spring sips covered. Continue reading...