California is considering a one-time, 5% tax on billionaires to fund healthcare shortfalls tied to major federal cuts. Opponents say it will prompt the uber-rich to leave, while supporters argue states can't afford not to tax wealth that's grown far faster than ordinary incomes. (Source: Bloomberg)
California is considering a one-time, 5% tax on billionaires to fund healthcare shortfalls tied to major federal cuts. Opponents say it will prompt the uber-rich to leave, while supporters argue states can't afford not to tax wealth that's grown far faster than ordinary incomes. (Source: Bloomberg)
The following companies are expected to report earnings prior to market open on 06/10/2026. Visit our Earnings Calendar for a full list of expected earnings releases.Core & Main, Inc. (CNM)is reporting for the quarter ending April 30, 2026. The machinery company's consensus
The following companies are expected to report earnings prior to market open on 06/10/2026. Visit our Earnings Calendar for a full list of expected earnings releases.Core & Main, Inc. (CNM)is reporting for the quarter ending April 30, 2026. The machinery company's consensus
Argentina’s Industrias Metalurgicas Pescarmona SAICF is in talks with the Venezuelan government to restart manufacturing and repairs on turbines for the Andean nation’s sprawling Guri dam complex, according to the company’s top executive. Known as Impsa and now privately owned, the hydroelectric construction firm is looking to resume work at the Macagua and Tocoma dams that would add 672 megawatts...
Argentina’s Industrias Metalurgicas Pescarmona SAICF is in talks with the Venezuelan government to restart manufacturing and repairs on turbines for the Andean nation’s sprawling Guri dam complex, according to the company’s top executive. Known as Impsa and now privately owned, the hydroelectric construction firm is looking to resume work at the Macagua and Tocoma dams that would add 672 megawatts of capacity to Venezuela’s power grid, Chief Executive Officer Jorge Salcedo said in an interview. The projects, which started in the mid-2000s when both countries were governed by leftist leaders who aggressively expanded state control of their respective economies, ground to a halt amid Venezuela’s economic and political crisis. Venezuela’s grid has deteriorated over the past two decades to a point where blackouts occur daily in towns across the country and even in parts of the capital, Caracas. Lawmakers are pushing for an overhaul the nation’s electricity law that would open the sector to private investment, allowing companies to generate, distribute and sell power under government concessions. Impsa’s resumption of work would be included as an addendum to current and unfinished contracts with Venezuela. The aim is to repair three 80-megawatt turbines at Macagua and, when that is completed, to install two 216-megawatt units at Tocoma, said Salcedo, who is also president of Impsa’s board. “Our schedule aims to bring 160 megawatts online at Macagua within the next 100 days,” he said, without specifying when an agreement could be signed. The information ministry in Caracas didn’t immediately respond to a request for comment on the Impsa talks. While the additional wattage planned represents less than 2% of Venezuela’s total installed capacity, it would help the nation start to rebuild its rickety grid. Blackouts are so frequent that the government is advising energy companies that want to be part of US-led efforts to rebuild the oil sector to bring their own power supplie...
Richard Drury A federal judge gave preliminary approval to Visa's ( V ) and Mastercard's ( MA ) revised $38B settlement with merchants who had alleged that the card networks' swipe fees overcharged merchants to process payments on credit cards, according to a media report on Tuesday. U.S. District Court Judge Brian Cogan in Brooklyn, NY, made the decision almost two years after another judge rejec...
Richard Drury A federal judge gave preliminary approval to Visa's ( V ) and Mastercard's ( MA ) revised $38B settlement with merchants who had alleged that the card networks' swipe fees overcharged merchants to process payments on credit cards, according to a media report on Tuesday. U.S. District Court Judge Brian Cogan in Brooklyn, NY, made the decision almost two years after another judge rejected a proposed $30B settlement, saying it didn't provide sufficient relief to merchants. Some trade groups, including the National Retail Federation, the National Association of Convenience Stores, and the Merchants Payments Coalition, also objected to the revised settlement, Reuters reported. Major retailers, including Walmart, said the settlement was a “gift” to the credit card network operators because it allowed them to continue anticompetitive conduct "without fear of being challenged by large national merchants," the report said. The revised settlement was reached in November 2025, resolving a lawsuit that merchants filed in 2005. Under the agreement, Mastercard and Visa agreed to reduce the U.S. combined average effective credit interchange rate, or swipe fee, by 0.1 percentage point for five years. Standard U.S. consumer credit rates will be capped at 1.25% through the terms of the agreement. Furthermore, merchants will have the option to accept specific categories of cards, such as commercial, premium consumer, or standard consumer. Mastercard ( MA ) stock rose 1.9%, and Visa ( V ) stock gained 1.8% in late Tuesday trading. More on Mastercard, Visa Mastercard Incorporated (MA) Presents at RBC Capital Markets Global Financial Technology Conference 2026 Transcript Mastercard: Advanced DuPont Analysis Reveals Value-Added Services Are Built To Skyrocket The Share Price Visa: Why The DOJ Lawsuit Has Created A Rare Buying Opportunity Visa, Brale explore private stablecoin settlement for institutions Visa, Mastercard transactions in Cuba to be suspended, central bank says
As concerns grow that today’s AI rally is starting to resemble the dot-com bubble, hedge fund investor Gavin Baker pushed back on that comparison during a recent appearance on the All-In Podcast. Baker argued that today’s AI boom is “a roller coaster that’s kind of a gentle sine wave” compared to 1999. Co-host David Friedberg ... Hedge Fund Investor Says Today’s AI Boom Is ‘Nothing’ Compared to 19...
As concerns grow that today’s AI rally is starting to resemble the dot-com bubble, hedge fund investor Gavin Baker pushed back on that comparison during a recent appearance on the All-In Podcast. Baker argued that today’s AI boom is “a roller coaster that’s kind of a gentle sine wave” compared to 1999. Co-host David Friedberg ... Hedge Fund Investor Says Today’s AI Boom Is ‘Nothing’ Compared to 1999 Dot-Com Bubble
The State Street Energy Select Sector SPDR ETF (NYSEMKT:XLE) and the iShares Global Clean Energy ETF (NASDAQ:ICLN) both target the energy sector but occupy different niches. The SPDR offers lower costs with fossil fuel concentration, while the iShares fund provides a more expensive, global renewable energy focus. Investors often choose between them based on cost, environmental, social, and governa...
The State Street Energy Select Sector SPDR ETF (NYSEMKT:XLE) and the iShares Global Clean Energy ETF (NASDAQ:ICLN) both target the energy sector but occupy different niches. The SPDR offers lower costs with fossil fuel concentration, while the iShares fund provides a more expensive, global renewable energy focus. Investors often choose between them based on cost, environmental, social, and governance (ESG) preferences, and yield requirements. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield. Continue reading
Boeing 's monthly deliveries are up yet again — great news for investors betting on the U.S. plane maker's continued revival. The company on Tuesday reported 60 deliveries for May, marking its strongest month of the year. That's up from 47 in April and 33% higher than May 2025. The May results included 51 deliveries for top-selling 737 Max jets and six for 787 Dreamliner widebody planes. The 737 M...
Boeing 's monthly deliveries are up yet again — great news for investors betting on the U.S. plane maker's continued revival. The company on Tuesday reported 60 deliveries for May, marking its strongest month of the year. That's up from 47 in April and 33% higher than May 2025. The May results included 51 deliveries for top-selling 737 Max jets and six for 787 Dreamliner widebody planes. The 737 Max had its highest month of deliveries since December 2024. Through the end of May, Boeing delivered 250 aircraft — 30 more than the first five months of 2025. At this pace, 2026 could eclipse last year's total of 600. The upward trajectory in deliveries is crucial for Boeing because it can lead to better free cash flow after years of burning cash. Deliveries get recorded when Boeing receives cash from its customers. FCF can assess not only the company's financial health but also the turnaround progress under Kelly Ortberg, who took over as CEO nearly two years ago to help clean up the company's myriad issues. Improving deliveries can also help Boeing hit its full-year free cash flow guide of $1 billion to $3 billion. The company started 2026 in the hole, with a cash burn of $1.45 billion in the first quarter. During post-earnings call in April, CFO Jay Malave said that free cash flow should turn positive in the second half. According to FactSet, analysts estimate a cash outflow of $218 million in Q2, with FCF of $1.15 billion and $2.95 billion in the third and fourth quarters, respectively. On the front end of the business, Boeing orders in May did come in a bit soft. The company booked 27 new orders last month, compared to 136 in April. This slowdown, however, is not investment thesis changing for us as orders tend to be lumpy. That's why we focus on deliveries, which is a function of free cash flow. Tuesday's delivery numbers are the latest in a string of positive developments for Boeing. Last month, management said the company met Federal Aviation Administration (FAA) r...
Alphabet (NASDAQ:GOOGL) is positioned as a multi-decade compounder because it pairs a near-monopoly cash engine in Google Search with a compounding cloud and AI franchise at a valuation that, on an earnings yield basis, still trades cheaper than most of its mega-cap peers. At $363.31, the stock carries a P/E of 16 and an earnings ... This Historically Cheap Cash Cow Is the Best Value and Growth St...
Alphabet (NASDAQ:GOOGL) is positioned as a multi-decade compounder because it pairs a near-monopoly cash engine in Google Search with a compounding cloud and AI franchise at a valuation that, on an earnings yield basis, still trades cheaper than most of its mega-cap peers. At $363.31, the stock carries a P/E of 16 and an earnings ... This Historically Cheap Cash Cow Is the Best Value and Growth Stock on Wall Street
Investors Should Know: Digital finance infrastructure is scaling rapidly. This includes trends like tokenized asset settlement and regulated crypto, as well as advances in stablecoin infrastructure. Background The financial services industry is undergoing a structural shift as blockchain-based settlement, tokenized assets, and regulated digital trading platforms move from experimental to operation...
Investors Should Know: Digital finance infrastructure is scaling rapidly. This includes trends like tokenized asset settlement and regulated crypto, as well as advances in stablecoin infrastructure. Background The financial services industry is undergoing a structural shift as blockchain-based settlement, tokenized assets, and regulated digital trading platforms move from experimental to operational. Institutions are now processing trillions of dollars through distributed ledger systems, signaling that digital infrastructure has reached a level of maturity that traditional finance cannot ignore. Meanwhile, institutional adoption of stablecoins is moving forward, representing another major development in the sector. Large payment networks are testing stablecoin settlement in environments built for institutional controls, including privacy-enabled blockchain designs. Separately, tokenized settlement is showing measurable scale in repo and collateral markets, where improved collateral mobility can reduce friction in institutional workflows. Galaxy Digital Inc. ( GLXY ) and Block, Inc. ( XYZ ) represent publicly traded pure-plays in cryptocurrency financial services. On the banking side, Ally Financial ( ALLY ) and Regions Financial ( RF ) are navigating the interest rate environment with forward-looking income targets. At the same time, BlackRock ( BLK ) is scaling its private markets platform toward wealth and retail channels. Broader financial services players with exposure to digital payments and transaction processing include StoneX Group Inc. ( SNEX ), Sezzle Inc. ( SEZL ), Remitly Global, Inc. ( RELY ), and Corpay, Inc. ( CPAY ). TD SYNNEX ( SNX ) is expanding its digital platform capabilities, including AI-assisted tools within its partner ecosystem. Turning to stablecoin infrastructure, Circle Internet Group ( CRCL ) is a key name in the sector, with players like Coinbase ( COIN ) and PayPal ( PYPL ) pushing digital finance forward as well. Payoneer Global ( PA...
Monty Rakusen/DigitalVision via Getty Images Look at the year-to-date scoreboard, and you might be surprised to see that Triple Flag Precious Metals Corp. ( TFPM ) is down about 15%. The VanEck Gold Miners ETF ( GDX ) is down 8%. Royal Gold ( RGLD ) is off 7.3%, Wheaton Precious Metals ( WPM ) is barely red at around 2%, and Franco-Nevada ( FNV ) is up 5.5%. So Triple Flag has been the laggard of ...
Monty Rakusen/DigitalVision via Getty Images Look at the year-to-date scoreboard, and you might be surprised to see that Triple Flag Precious Metals Corp. ( TFPM ) is down about 15%. The VanEck Gold Miners ETF ( GDX ) is down 8%. Royal Gold ( RGLD ) is off 7.3%, Wheaton Precious Metals ( WPM ) is barely red at around 2%, and Franco-Nevada ( FNV ) is up 5.5%. So Triple Flag has been the laggard of the group. I think the market has this one wrong, and the valuation has gotten pretty compelling - enough so that I'd consider starting a new position here. The stock trades at about 19 times this year's earnings. Push things out further to 2028, where analysts peg average EPS at $1.68, and you're paying 16.8 times earnings two years forward. This isn't a crazy, unreasonable valuation at all for a business that analysts expect to grow revenue by 36% this year and another 13% next year. You don't see that combination often in this corner of the market. Here's the peer comparison on forward multiples, using Seeking Alpha's valuation data: Metric (FWD) TFPM RGLD WPM FNV OR P/E 19.1x 18.2x 21.8x 24.3x 22.7x EV/EBITDA 13.7x 10.9x 14.8x 16.6x 15.4x Price/Cash Flow 14.3x 13.1x 17.0x 19.5x 18.3x Price/Sales 11.0x 9.0x 13.0x 15.5x 13.8x Dividend yield (TTM) 0.81% 0.90% 0.62% 0.72% 0.65% Click to enlarge Royal Gold is the cheapest royalty name on the board, and Triple Flag sits right behind it, well under Wheaton, Franco-Nevada, and Osisko on earnings, cash flow, and EV/EBITDA. But cheap relative to peers is only half an argument. The question is whether Triple Flag deserves to trade up toward them, and I think it does, for three reasons. First, growth. Triple Flag is guiding to roughly 40% GEO growth by 2030 off a fully funded portfolio. That's a faster organic growth rate than Franco-Nevada or Wheaton, both of which are far larger and harder to move. Paying 19 times earnings for the faster grower while Franco-Nevada fetches 24 times is the kind of mismatch that tends to close. Seco...