Taitai6769/iStock via Getty Images Nucor ( NUE ) up 1.3% in Thursday's trading as UBS upgraded shares to Buy from Neutral with a $190 price target, up from $184, saying the recent selloff presents a buying opportunity as steel producers are viewed as relatively insulated from the Middle East war. UBS analysts led by Andrew Jones said the 15% selloff on the back of geopolitical conflict is "excessi...
Taitai6769/iStock via Getty Images Nucor ( NUE ) up 1.3% in Thursday's trading as UBS upgraded shares to Buy from Neutral with a $190 price target, up from $184, saying the recent selloff presents a buying opportunity as steel producers are viewed as relatively insulated from the Middle East war. UBS analysts led by Andrew Jones said the 15% selloff on the back of geopolitical conflict is "excessive," and with the stock trading at ~7.1x the bank's estimated FY 2027 EBITDA, compared to 8.5x in January. Higher import parities support pricing and the energy cost hit should be modest, and higher rates could disrupt construction activity, but the bank's construction forecasts and federal demand stimulus should support 3% growth in 2026-27 domestic shipments. Jones and his team said they like the setup for Nucor ( NUE ) given limited energy cost risk and organic growth prospects via bar mills, towers and coating, and Brandenburg, West Virginia, in a federally supported higher price and volume environment. More on Nucor Nucor: Tariff Turmoil Is Why You Stick With High Quality Steel Producers Nucor: 15% Upside Potential Driven By Investment Completion And Strategic Growth Nucor Q4 2025 Earnings Call Presentation
Almost a month into the war in Iran, oil traders reeling from massive market swings are pulling back as conflicting messaging from Washington DC and Tehran keeps prices gyrating. Four of the six largest swings ever seen in international oil benchmark Brent futures have come since the war started at the end of February. Now, as traders struggle to adjust their exposure and protect their positions, ...
Almost a month into the war in Iran, oil traders reeling from massive market swings are pulling back as conflicting messaging from Washington DC and Tehran keeps prices gyrating. Four of the six largest swings ever seen in international oil benchmark Brent futures have come since the war started at the end of February. Now, as traders struggle to adjust their exposure and protect their positions, evidence is growing that liquidity is thinning, which threatens to worsen the violent moves. The slowdown is already evident. Total Brent futures open interest plunged to the lowest in four months earlier this month, and consultant Energy Aspects said its measure of liquidity in Brent has fallen to the lowest level since at least April 2024. “I sense fatigue out here and less liquidity,” said Scott Shelton , an energy specialist at TP ICAP Group Plc. “Most humans have either pared back risk to adjust for VAR (value at risk) exploding or got out completely, which leaves the oil market to the algos competing on trading headlines and generating pain.” “I am exhausted and my clients are there too as well,” he added. The White House’s shifting tone — veering from threats of massive attacks to optimism about negotiations — has kept traders on edge as they monitor US President Donald Trump’s latest pronouncements, which can come at any time, day or night, weekday or weekend. While traders are still monitoring the news, some say trading has gone down, with many especially cautious around weekends. When market volatility spikes, traders’ value at risk — the maximum loss that the position may see during a given period of time — can balloon. Many traders have also hit stop-loss triggers, forced to close out bets after the market reached a pre-determined level. Most of the pullback has been in the futures market and inter-month spreads, traders and brokers said. The lack of liquidity has arisen partly because many speculative players are long, leaving few traders to buy dips in prices,...
Fotoatelie Coca-Cola ( KO ) CEO James Quincey said the proliferation of AI was a key factor in his decision to step down from his post. “My job is also to think who’s the best team to put on the field to get the next wave done,” Quincey told CNBC on Thursday. “And I concluded that, actually, it was time to put someone else on the field for the next wave of growth.” “In a pre-AI, a pre-gen-AI mode,...
Fotoatelie Coca-Cola ( KO ) CEO James Quincey said the proliferation of AI was a key factor in his decision to step down from his post. “My job is also to think who’s the best team to put on the field to get the next wave done,” Quincey told CNBC on Thursday. “And I concluded that, actually, it was time to put someone else on the field for the next wave of growth.” “In a pre-AI, a pre-gen-AI mode, we made a lot of progress. But now there’s a huge new shift coming along,” Quincey said, adding that the company needed “someone with the energy to pursue a completely new transformation of the enterprise.” Coca-Cola announced in December that Quincey was stepping down as CEO after nine years. Q uincey will be succeeded by Coca-Cola Chief Operating Officer Henrique Braun on March 31, after which he will serve as the company's executive chairman. More on Coca-Cola Coca-Cola: Time To Play Defensive Coca-Cola: A Wonderful Business But Limited Return Expectation Coca-Cola: Insider Selling Could Be An Ominous Sign Coca-Cola brings Sprite back to the NBA with a key sponsorship deal Coca-Cola tops growth factor grades among S&P consumer staples holdings
Meeko Media/iStock via Getty Images Precigen Overview My first "Buy" rating on Precigen ( PGEN ) was in August 2023 after its Recurrent Respiratory Papillomatosis (RRP) therapy was speeding to the market. https://www.fda.gov/media/188264/download (FDA) Following promising results (summarized above), Papzimeos was green-lit last August by the FDA. When I last assessed PGEN in November (maintain " B...
Meeko Media/iStock via Getty Images Precigen Overview My first "Buy" rating on Precigen ( PGEN ) was in August 2023 after its Recurrent Respiratory Papillomatosis (RRP) therapy was speeding to the market. https://www.fda.gov/media/188264/download (FDA) Following promising results (summarized above), Papzimeos was green-lit last August by the FDA. When I last assessed PGEN in November (maintain " Buy "), management was already guiding for "cash flow breakeven" in 2026, which I thought implied over $150M in gross Papzimeos revenue. While competition looms, I believed that Inovio's ( INO ) INO-3107 wouldn't pose much threat to Papzimeos due to the need for specialized in-office equipment (i.e., Inovio's CELLECTRA electroporation device). Precigen's stock is higher today after revealing its 2026 outlook for Papzimeos. Data by YCharts Q1 Expectations My expectations for Q1 revenue looked like this: Author Estimates (dated 11/25/25) During the call , management stated that they "expect revenues in Q1 to exceed $18 million." This, effectively, falls very close to my "Bull" revenue band for Q1. Given that it is late March, this number is almost a "locked in" floor. What's, perhaps, more encouraging are the 300+ patients in the hub, which is up 50% since January. We also have to keep in mind that J-code does not kick in until April 1. The J-code will remove manual billing friction and likely will cause an efficiency "pop" in Q2. The 65% commercial payer mix and "high teens to low 20s" gross-to-net margins suggest strong private insurance acceptance. That is, payers see value in Papzimeos and aren't pushing back too much on its orphan pricing. Management is still guiding for cash flow breakeven in 2026, which appears more concrete with Papzimeos' Q1 revenue run rate already over $70M. Pharma DCF I have estimated before, based on "back-of-the-napkin" math, that Papzimeos could generate >$1B in peak annual sales. Now that I have more data (i.e., WAC, GTN), I want to formally mo...
Permira , the €85 billion ($98 billion) global private equity firm which lends to technology companies, is finding opportunity in software loans battered by fears of AI disruption. “The market has overreacted,” according to Ian Jackson , Permira Credit’s head of strategic opportunities. “A lot of these names, we just don’t believe will go through restructuring,” he said on the latest Bloomberg Int...
Permira , the €85 billion ($98 billion) global private equity firm which lends to technology companies, is finding opportunity in software loans battered by fears of AI disruption. “The market has overreacted,” according to Ian Jackson , Permira Credit’s head of strategic opportunities. “A lot of these names, we just don’t believe will go through restructuring,” he said on the latest Bloomberg Intelligence Credit Edge podcast. Across Wall Street, alarm bells have been ringing on how new artificial intelligence tools could disrupt not just software, but financial services and asset management businesses too. Leveraged tech sector debt has tumbled, stoking anxiety across private credit markets, which are highly exposed to software. Permira is mostly looking to scoop up broadly syndicated loans in European secondary markets, but may also buy debt in the US, Jackson said. Other large funds like Capital Group are also positioning to profit from the turmoil. “Fundamentally, we like some of these names and we think they’re going to be around for some time,” said Jackson. Permira is scouring for software companies with products that make a business more resilient, provide critical data or are deeply embedded in workflows. The firm has been closely monitoring the rise of AI after establishing a permanent presence in Silicon Valley about 20 years ago. “We saw this coming and we’ve got very deep networks across the West Coast,” said Jackson. On a more cautionary note, Jackson still sees vulnerabilities across credit markets that will be exacerbated as the Iran war drags on. Permira has also tightened up its underwriting in response to a rising tide of bankruptcies that led to allegations of fraud. “The current situation is obviously serious, but I wouldn’t say today it’s a full blown crisis, at least not at this stage,” Jackson said. “Private credit is still very attractive in parts — it’s a little less forgiving today because the easy money years have gone.”
NVIDIA (NASDAQ:NVDA) finds itself caught between two powerful forces on Thursday. NVDA stock is down roughly 3% in today’s session, a modest but notable move that reflects a genuine tug-of-war between investor enthusiasm heading into the GTC technology conference and renewed legal scrutiny tied to the company’s past revenue disclosures. The broader market isn’t helping. ... NVIDIA Falls 3% as Inve...
NVIDIA (NASDAQ:NVDA) finds itself caught between two powerful forces on Thursday. NVDA stock is down roughly 3% in today’s session, a modest but notable move that reflects a genuine tug-of-war between investor enthusiasm heading into the GTC technology conference and renewed legal scrutiny tied to the company’s past revenue disclosures. The broader market isn’t helping. ... NVIDIA Falls 3% as Investors Weigh GTC Optimism Against a Revived Class Action Lawsuit
New York City Mayor Zohran Mamdani just faced his administration’s first big test in the municipal-bond market amid growing concerns about the city’s finances. The result? The city sold $2.3 billion of general-obligation bonds on Wednesday, smaller than originally planned. New York’s borrowing penalty was higher than a similar sale last year though some yields came in tighter than initial pricing,...
New York City Mayor Zohran Mamdani just faced his administration’s first big test in the municipal-bond market amid growing concerns about the city’s finances. The result? The city sold $2.3 billion of general-obligation bonds on Wednesday, smaller than originally planned. New York’s borrowing penalty was higher than a similar sale last year though some yields came in tighter than initial pricing, according to a preliminary wire seen by Bloomberg. James Pruskowski , managing director at Hennion & Walsh, said in an email that the city’s deal was well-received despite a “challenging” market backdrop. There’s been a broad rout in the US state and local debt market as the US war with Iran raises inflation fears. The city, which benefits from a deep investor base, benefits from immense wealth and that helped it “navigate the deal without outsized concessions,” Pruskowski added. The deal is smaller than the $2.6 billion outlined in the preliminary offering documents because of market changes between when the city first released its plans and the day of the pricing, according to a spokesperson for the NYC comptroller’s office. The “sale and the steady demand for the City’s municipal bonds in the face of market volatility is a clear signal of confidence from investors who know that our credit is strong,” Comptroller Mark Levine said in a statement. Timing was on New York’s side. The market for new issues, in general, was more stable on Wednesday than it was a day earlier, said Dora Lee , director of research for Belle Haven Investments. The 10-year AAA benchmark yield surged 11 basis points on Tuesday, according to data compiled by Bloomberg BVAL. A portion of bonds maturing in August 2036 with a 5% coupon sold at 3.59% yield, 48 basis points over AAA securities, according to BVAL pricing data compiled by Bloomberg. The offering priced at yields less than what was included in a preliminary pricing wire seen by Bloomberg. The credit spreads on this week’s deal were higher th...
BalkansCat/iStock Editorial via Getty Images With the stunning rise of autonomous agents like OpenClaw and Anthropic’s ( ANTHRO ) Claude Work, as well as the staggering variety of opinions on what impact they will have on the future of work, it’s probably not terribly surprising to see renewed interest in the computers we all use at work. Toss in the fact that Intel ( INTC ) just released the comm...
BalkansCat/iStock Editorial via Getty Images With the stunning rise of autonomous agents like OpenClaw and Anthropic’s ( ANTHRO ) Claude Work, as well as the staggering variety of opinions on what impact they will have on the future of work, it’s probably not terribly surprising to see renewed interest in the computers we all use at work. Toss in the fact that Intel ( INTC ) just released the commercial vPro versions of its new Core Ultra Series 3 (codenamed Panther Lake) processors, and well, you have the perfect storm to generate news on business PCs. Or, in HP’s ( HPQ ) case, a nicely timed opportunity to debut a wide range of commercial PCs, notebooks, software and services and talk about the role they play in the Future of Work. And that’s exactly what the company did at their annual HP Imagine event, showing newly updated ProBook and EliteBook notebooks, ZBook mobile workstations, Z-series desktop workstations and more. They also shared survey information on the critical importance that having access to fully functioning PCs and printers have on our workplace productivity. From a product perspective, a majority of the new commercial PCs that HP announced were based on Intel’s Core Ultra Series 3 processors. However, the company first talked about its latest EliteBook 6 G2q notebook based on Qualcomm’s ( QCOM ) newest Snapdragon X2 series chips and described it as the “world’s most configurable Arm-based PC.” This lightweight laptop is offered with either the 12-Core X2 Elite or the 60 or 10-Core X2 Plus SOC, and is available with numerous memory and storage options. In addition, there are options for HP Go, the company’s branded MVNO cellular data service, and a Qualcomm 5G modem. HP also showed off Intel and AMD -based versions of the same design, which is 15% thinner than previous generations. Other new PCs the company introduced include the EliteBook 8 G2 and the ProBook 4 G2, each with different physical designs, screen sizes, chip options and other config...
Shares of Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) fell about 7.8% on Thursday afternoon, pressured by a series of legal setbacks, fresh layoffs and lingering investor concerns over elevated capital spending. The decline came as the broader “Magnificent 7” technology group...
Shares of Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) fell about 7.8% on Thursday afternoon, pressured by a series of legal setbacks, fresh layoffs and lingering investor concerns over elevated capital spending. The decline came as the broader “Magnificent 7” technology group...
Hundreds of immigrants have been arrested at immigration courthouses. It is unclear whether the federal government's admission could lead to some of those arrests being overturned. (Image credit: Michael M. Santiago/Getty Images)
Hundreds of immigrants have been arrested at immigration courthouses. It is unclear whether the federal government's admission could lead to some of those arrests being overturned. (Image credit: Michael M. Santiago/Getty Images)
Joe Raedle/Getty Images News Mizuho initiated coverage of Tyson Foods ( TSN ) with an Outperform rating, reflecting a positive risk/reward into fiscal year 2027 thanks to its efforts to increase efficiencies and favorable demand for protein. As the world’s second-largest processor and marketer of animal proteins, Mizuho’s John Baumgartner believes Tyson Foods ( TSN ) is “poised to benefit” from th...
Joe Raedle/Getty Images News Mizuho initiated coverage of Tyson Foods ( TSN ) with an Outperform rating, reflecting a positive risk/reward into fiscal year 2027 thanks to its efforts to increase efficiencies and favorable demand for protein. As the world’s second-largest processor and marketer of animal proteins, Mizuho’s John Baumgartner believes Tyson Foods ( TSN ) is “poised to benefit” from the continuation of protein as an “integral nutrient.” And despite record high prices, U.S. meat demand remains resilient and has shifted to nutrient-dense options, which Baumgartner expects will persist in a new landscape of GLP-1s and personalized health data. “We see Tyson well-placed to benefit from tailwinds,” he said. Negative headlines around prepared foods notwithstanding, Tyson-branded retail products are outperforming food and beverage by approximately 400 basis points, “reflecting momentum from innovation, distribution, and brand-building.” “While investor skepticism persists about TSN’s ability to deliver consistent growth, and emerging geopolitical volatility presents short-term risks to consumer demand, we believe Prepared Foods is turning the corner on a structural basis,” he writes. Finally, on the operational side of the business, Tyson’s ( TSN ) heavy reinvestment in network optimizations through the use of robotics, supply chain efficiencies, and enhanced analytics “underwrites stronger execution and greater operating leverage.” Baumgartner sets a price target of $72 on Tyson Foods ( TSN ), suggesting 17% upside from Wednesday’s closing price. More on Tyson Foods Tyson Foods Still Needs To Prove This Time Is Different Tyson Foods, Inc. (TSN) Shareholder/Analyst Call Prepared Remarks Transcript Tyson Foods, Inc. (TSN) Q1 2026 Earnings Call Transcript Tyson Foods prices $500M senior notes Why a flesh-eating parasite at the Texas border could keep beef prices elevated for longer
Shares of Dianthus Therapeutics ( DNTH ) spiked on Thursday after the company announced that the FDA agreed with several proposed changes related to clinical development of its lead candidate, claseprubart. The long-acting monoclonal antibody therapy is currently undergoing advanced clinical studies for autoimmune diseases, including generalized myasthenia gravis and chronic inflammatory demyelina...
Shares of Dianthus Therapeutics ( DNTH ) spiked on Thursday after the company announced that the FDA agreed with several proposed changes related to clinical development of its lead candidate, claseprubart. The long-acting monoclonal antibody therapy is currently undergoing advanced clinical studies for autoimmune diseases, including generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy. In a regulatory filing , the New York-based biotech stated that due to the latest patient experiences and scientific consensus on published results, it submitted the proposed changes to the FDA in Q1 2026. The company disclosed that the FDA issued written feedback in March, indicating its agreement with all three changes, which related to screening criteria, routine lab work, and autoimmune safety risk. The decision applies to all current and future studies for clopidogrel. Additionally, Dianthus ( DNTH ) noted that there have been no incidences of SLE or DIL in any of the claseprubart programs so far. More on Dianthus Therapeutics Dianthus Therapeutics: Go Decision For CIDP Program Warrants Continued Buy Rating Dianthus Therapeutics, Inc. (DNTH) Discusses Interim Responder Analysis and Early Go Decision for CAPTIVATE Trial in CIDP Transcript Dianthus Therapeutics, Inc. (DNTH) Discusses Interim Responder Analysis and Early Go Decision for CAPTIVATE Trial in CIDP - Slideshow Dianthus Therapeutics prices upsized $625M public offering at $81/share Dianthus Therapeutics announces proposed $400 million public share offering
A judge said the right to defence was paramount as prosecutors argued the couple should not be able to use Venezuelan government funds to pay their lawyers.
A judge said the right to defence was paramount as prosecutors argued the couple should not be able to use Venezuelan government funds to pay their lawyers.