The jury agreed that Meta engaged in "unconscionable" trade practices that unfairly took advantage of the vulnerabilities of and inexperience of children. Jurors found there were thousands of violations, each counting separately toward a penalty of $375 million. (Image credit: Jim Weber/Santa Fe New Mexican)
The jury agreed that Meta engaged in "unconscionable" trade practices that unfairly took advantage of the vulnerabilities of and inexperience of children. Jurors found there were thousands of violations, each counting separately toward a penalty of $375 million. (Image credit: Jim Weber/Santa Fe New Mexican)
Chevron Corp. is warning that California is careening toward an energy crisis because of the Iran war and that the company may quit refining oil in the state unless officials roll back taxes and regulations. California, the most populous US state, is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia. Now shipments from Ch...
Chevron Corp. is warning that California is careening toward an energy crisis because of the Iran war and that the company may quit refining oil in the state unless officials roll back taxes and regulations. California, the most populous US state, is highly exposed to the disruption rippling across commodity markets because it imports about 20% of its refined fuels from Asia. Now shipments from China, South Korea, Singapore and elsewhere are at risk of slowing significantly as Iran blocks the Strait of Hormuz, leaving Asian nations struggling to meet their own demand at home. Chevron’s oil refining head Andy Walz said the potential for fuel shortages in California is his “worst fear.” “We have refineries in Asia that are having to cut crude, and so they’re going to make less products,” Walz said in an interview Tuesday. “What if San Francisco doesn’t have the jet fuel it needs? Or Los Angeles? Or maybe gasoline?” California is disconnected from the US fuel-making centers of Texas and Louisiana, essentially making it an energy island. That’s compounded by multiple refinery closures in recent years due to increased costs driven by regulations designed to fight climate change and cap oil industry profits. As a result, California consumers are more exposed than most other Americans to surging energy prices because of the Iran war. They already pay nearly $6 for a gallon of gasoline, compared with a national average of close to $4. It’s a growing political problem for Governor Gavin Newsom , a Democrat who is expected to run for president in 2028. “California has decided that they’re going to rely on imports,” Walz said at the CERAWeek by S&P Global conference in Houston. “It’s a dangerous game.” Read More: California Diesel Prices Top $7 a Gallon to Hit Record High California officials should declare an “energy emergency,” to reform its climate and tax rules and promote in-state oil production, Walz said. Without such action, Chevron could quit refining in California wi...
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. Angela Weiss | AFP | Getty Images U.S. stock futures rose Tuesday night following a news report that the U.S. has given Iran a plan that could bring the conflict to an end. S&P 500 futures and Nasdaq 100 futures advanced 0.7% and 0.9%, respectively. Futures tied to the Dow Jones Indus...
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. Angela Weiss | AFP | Getty Images U.S. stock futures rose Tuesday night following a news report that the U.S. has given Iran a plan that could bring the conflict to an end. S&P 500 futures and Nasdaq 100 futures advanced 0.7% and 0.9%, respectively. Futures tied to the Dow Jones Industrial Average gained 320 points, or 0.7%. During the day's regular session, all three major averages posted losses. The S&P 500 slipped 0.37%, while the Nasdaq Composite lost 0.84%. The blue-chip Dow fell 84.41 points, or 0.18%. The moves came after President Donald Trump on Tuesday said that the U.S. is " in negotiations right now " with Iran. He added that Tehran is "talking sense" and suggested it is eager to make a peace deal. The New York Times reported Tuesday afternoon that the U.S. is said to have sent Iran a peace plan to end the war, citing two unnamed officials. The 15-point plan was delivered by way of Pakistan, the outlet said. Stocks gave back some of their gains from Monday, which saw all three averages soaring more than 1% after Trump wrote in a Truth Social post that the U.S. and Iran have held "very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East." However, Iranian state media denied reports of these direct talks between the two nations. Oil prices resumed rising on Tuesday after falling the day before . Michael Kantrowitz, chief investment strategist at Piper Sandler, pointed to the commodity as the primary market driver in recent days. "We continue to see this as just an oil-driven, one-variable market," he said on CNBC's " Closing Bell: Overtime " Tuesday afternoon. "Oil and interest rates are driving the equity market. And for now, I think markets are priced appropriately for where conditions are, and we'll continue to move and react as conditions evolve." He added: "I'm less concerned a...
Livium Limited CEO & Managing Director Simon Linge talked with Kerry Stevenson from Proactive at the Small and Mid-Cap Conference about the company’s expanding role in battery recycling and its growth outlook within the renewable energy sector. Linge explained that Livium Limited operates across the battery value chain, with its core business focused on lithium-ion battery recycling through its En...
Livium Limited CEO & Managing Director Simon Linge talked with Kerry Stevenson from Proactive at the Small and Mid-Cap Conference about the company’s expanding role in battery recycling and its growth outlook within the renewable energy sector. Linge explained that Livium Limited operates across the battery value chain, with its core business focused on lithium-ion battery recycling through its Envirostream division. The company is also expanding into adjacent recycling markets, including solar panels and permanent magnets, driven by client demand and the broader shift toward renewable energy. He highlighted that Livium Limited works with major global clients such as BYD, Hyundai, Volvo Energy and LG Energy Solution, processing end-of-life batteries to recover valuable materials. The company’s business model is already proven, generating revenue through service fees while also sharing in the value of recovered materials. A key theme from the discussion was the strong growth outlook for the sector. Linge noted, “over the next five years, we see a fivefold increase in volumes,” pointing to a significant demand curve driven by energy storage and electric mobility adoption. The company is also progressing a joint venture with Mineral Resources to improve lithium recovery yields in mining, offering additional upside without requiring further capital investment from Livium Limited. With supportive regulation, strong demand growth and opportunities for strategic partnerships and M&A, Livium Limited is positioning itself as a leader in Australia’s battery recycling industry. #proactiveinvestors #ASX #lit #Livium #ASXLIT #BatteryRecycling #LithiumIon #EVBatteries #RenewableEnergy #EnergyStorage #CleanTech #MiningTech #Sustainability #Recycling #ProactiveInvestors #EVGrowth
A New Mexico jury found on Tuesday that social media conglomerate Meta is harmful to children’s mental health and in violation of state consumer protection law. The landmark decision comes after a nearly seven-week trial. Jurors sided with state prosecutors who argued that Meta – which owns Instagram, Facebook and WhatsApp – prioritised profits over safety. The jury determined Meta violated parts ...
A New Mexico jury found on Tuesday that social media conglomerate Meta is harmful to children’s mental health and in violation of state consumer protection law. The landmark decision comes after a nearly seven-week trial. Jurors sided with state prosecutors who argued that Meta – which owns Instagram, Facebook and WhatsApp – prioritised profits over safety. The jury determined Meta violated parts of the state’s Unfair Practices Act on accusations the company hid what it knew about the dangers of...
In this article O9T-FF ARM Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 15:24 15:24 Inside Arm’s $71 million chip lab where its making its first ever CPU Tech Arm Holdings stock popped 6% in after-hours trading on Tuesday as CEO Rene Haas announced 2031 annual revenue expectations that were more than six times what it was in 2025. Haas unveiled Arm's first in-house chip on Tuesd...
In this article O9T-FF ARM Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 15:24 15:24 Inside Arm’s $71 million chip lab where its making its first ever CPU Tech Arm Holdings stock popped 6% in after-hours trading on Tuesday as CEO Rene Haas announced 2031 annual revenue expectations that were more than six times what it was in 2025. Haas unveiled Arm's first in-house chip on Tuesday at an event in San Francisco, with Meta as the initial customer. CNBC got an exclusive first look at the chip earlier this month, visiting the lab Arm built for it in Austin, Texas. Arm stock closed about 1.5% lower on Tuesday following the chip announcement. Haas said Arm expects the new chip to generate roughly $15 billion in annual revenue by 2031, with total annual revenue of $25 billion and earnings per share of $9. Central processing units are seeing a resurgence of demand as agentic AI changes compute needs. Haas predicted CPUs will see a fourfold increase in demand around agentic AI. "We may be under-calling that number," Haas said Tuesday. "I think the demand is higher than we think it is." It's a huge lift for the chip design firm that generated just over $4 billion in annual revenue in 2025. Read more CNBC tech news Amazon's Zoox to debut robotaxis in Austin, Miami later this year as it awaits paid ride approval OpenAI calls out Microsoft reliance as risk in investor document ahead of expected IPO Amazon faces further AWS disruption in the Middle East from Iran conflict OpenAI's data center pivot underscores Wall Street spending concerns ahead of IPO The Arm AGI CPU is a data chip optimized for AI inference. It's a long-anticipated move that marks a major change for the so-called Switzerland of chip firms as it enters into fresh competition with its customers. Arm CFO Jason Child said Arm is selling its new chip at about a 50% gross profit. "It expands our market to include customers that were not interested in an IP model, gives our current customers choice, ...
Aleksandr Golubev/iStock via Getty Images I always appreciate companies that are showing attractive growth. But as a value investor, the price for that growth has to be appropriate. In some instances, it is. In others, it's not even close. Back in December when I last looked at Core & Main, Inc. ( CNM ), I found myself impressed with the overall financial performance of the business. However, I ma...
Aleksandr Golubev/iStock via Getty Images I always appreciate companies that are showing attractive growth. But as a value investor, the price for that growth has to be appropriate. In some instances, it is. In others, it's not even close. Back in December when I last looked at Core & Main, Inc. ( CNM ), I found myself impressed with the overall financial performance of the business. However, I made the case that, for all the growth that the company was exhibiting, upside potential was likely limited from that point on. This led me to take a more neutral stance on the business, ultimately calling it a Hold. Since that time, the stock has performed along the lines of what I would have anticipated. While the S&P 500 ( SP500 ) is down 3.8%, its stock is down 3.4%. This is even in spite of a 4.5% jump in share price that we saw on March 24th after management reported financial results for the final quarter of the company's 2025 fiscal year. Those figures were actually mixed. Revenue, for instance, fell short of analysts’ expectations. But at the same time, earnings per share and adjusted earnings per share both came in above what they were anticipating. What's more, management is forecasting some growth this year, specifically on the top line and when it comes to EBITDA. But at the end of the day, the stock just does not look cheap enough on an absolute basis to justify all that bullish outlook. Instead, it makes for a much better Hold candidate than it does a Buy right now. A Mixed Bag The final quarter of the 2025 fiscal year was an interesting time for shareholders of Core & Main. Take revenue, for starters. It actually fell year over year, dropping from $1.70 billion to $1.58 billion. At first glance, this is a bit surprising. I say this because, for the year as a whole, revenue grew 2.8%, from $7.44 billion to $7.65 billion. The decline in sales, according to management, was actually because of an extra selling week that the company had in 2024. Actual average dail...
After a weak start to the year, shares of Nvidia, along with Broadcom, AMD, and Marvell, are starting to look like bargains, according to analysts at Deutsche Bank.
After a weak start to the year, shares of Nvidia, along with Broadcom, AMD, and Marvell, are starting to look like bargains, according to analysts at Deutsche Bank.
Elena Alex photo/iStock via Getty Images Peak Pricing 12/31/2021 About five years ago, 2 nd Market Capital, a real estate securities dedicated investor, felt priced out of the entire multifamily REIT sector. Trading at an average P/FFO north of 28x, we felt owning multifamily shares posed more risk than reward. S&P Global IQ Source: S&P Global IQ The passage of time and the delivery of a tsunami o...
Elena Alex photo/iStock via Getty Images Peak Pricing 12/31/2021 About five years ago, 2 nd Market Capital, a real estate securities dedicated investor, felt priced out of the entire multifamily REIT sector. Trading at an average P/FFO north of 28x, we felt owning multifamily shares posed more risk than reward. S&P Global IQ Source: S&P Global IQ The passage of time and the delivery of a tsunami of new apartments in the hottest sunbelt markets, however, has taken the shine off multifamily investment. This graph illustrates how little love the apartment sector is getting in recent months. This pricing trend makes us feel the issues are possibly primed for a new examination. Multifamily YTD Performance S&P Global IQ 03/20/2026 Source: S&P Global IQ 03/20/2026 Value It is difficult to predict when multifamily REITs will fully absorb the current oversupply in certain MSAs, but when they do, we can anticipate that higher rents, occupancy, and share prices might soon follow. Examining a couple of metrics might indicate whether now is providing an attractive price entry point. Price to AFFO Comparing today’s REIT earnings to those described in the Stock Pricing Table posted at the start of this article, we quickly understand that the whole sector has experienced significant multiple compression. 2MCAC with data derived from S&P Global IQ Source: S&P Global IQ 03/20/2026 NexPoint Residential ( NXRT ) was an earnings growth juggernaut in 2021 and enjoyed pricing that awarded the feat. Today, NXRT has gone from 1 st to worst, trading at just 10X next twelve months consensus AFFO. Other, better capitalized apartment operators like Avalon Bay ( AVB ), Camden Property Trust ( CPT ), and Mid-America Apartment Communities ( MAA ) have seen their P/AFFO ratios virtually cut in half. The whole sector has been on a multi-year price decline. Net Asset Value At the close of 2021, multifamily REITs were, on average, priced at 110% of NAV. Today, premium pricing is a fading memory and th...
Earlier in March, Apple announced AirPods Max 2, an upgraded over-ear headset with stronger noise cancellation, lossless USB-C audio, creator-focused tools, and new AI-enabled features powered by its H2 chip. The launch extends Apple Intelligence beyond iPhone and Mac into premium audio, reinforcing Apple’s ecosystem and adding fresh use cases for professionals and everyday users. We’ll now examin...
Earlier in March, Apple announced AirPods Max 2, an upgraded over-ear headset with stronger noise cancellation, lossless USB-C audio, creator-focused tools, and new AI-enabled features powered by its H2 chip. The launch extends Apple Intelligence beyond iPhone and Mac into premium audio, reinforcing Apple’s ecosystem and adding fresh use cases for professionals and everyday users. We’ll now examine how this extension of Apple Intelligence into AirPods Max 2 could influence the company’s...
[This stream is scheduled to begin at 6:05 p.m. ET] Venezuela opposition leader María Corina Machado will address oil and gas executives Tuesday, as the industry hesitates to invest in the South American nation after the U.S. ousted former President Nicolás Maduro. Machado, a Nobel Peace Prize laureate, was blocked in 2024 from running for president in Venezuela by the Maduro regime. She previousl...
[This stream is scheduled to begin at 6:05 p.m. ET] Venezuela opposition leader María Corina Machado will address oil and gas executives Tuesday, as the industry hesitates to invest in the South American nation after the U.S. ousted former President Nicolás Maduro. Machado, a Nobel Peace Prize laureate, was blocked in 2024 from running for president in Venezuela by the Maduro regime. She previously served in the National Assembly. Machado leads the opposition movement that seeks a transition to democracy and a market economy in Venezuela. She will deliver remarks at S&P Global's CERAWeek conference in Houston, Texas. The gathering draws oil and gas executives and senior government officials from around the world. The U.S. captured Maduro in a military raid in January, but has left the rest of the regime in place . The Trump administration has praised its cooperation with interim President Delcy Rodríguez, who served as vice president under Maduro. The White House has not set a timeline for elections. President Donald Trump is pressuring U.S. oil and gas companies to invest in Venezuela, which posseses some of the largest crude reserves in the world. Industry leaders are skeptical. ConocoPhillips and Exxon Mobil have made clear they will not return until major political reforms are implemented to protect private sector investments. The companies had their assets seized by President Hugo Chavez in 2007. Conoco will not invest until there is way to recover some of the $12 billion that Venezuela owes the company from the expropriation of its assets, CEO Ryan Lance said Tuesday. The recent reform of Venezuela's oil laws under Rodríguez are "woefully inadequate," Lance said. "They have a long ways to go to make make the country competitive globally to attract the kinds of billions of dollars of investments that are going to be required," Lance said at CERAWeek. It will require not only physical security and contract guarantees but also policy durability in Venezuela and t...
Forgent Power Solutions Inc. and some of its shareholders are offering to sell 30 million shares in aggregate, less than two months after the electrical equipment company’s initial public offering. Stockholders affiliated with Neos Partners are offering 20.7 million Forgent shares, and the company is selling 9.31 million shares, according to a filing Tuesday with the US Securities and Exchange Com...
Forgent Power Solutions Inc. and some of its shareholders are offering to sell 30 million shares in aggregate, less than two months after the electrical equipment company’s initial public offering. Stockholders affiliated with Neos Partners are offering 20.7 million Forgent shares, and the company is selling 9.31 million shares, according to a filing Tuesday with the US Securities and Exchange Commission. At the closing price of $35.78 each on Tuesday, the offering would raise about $1.07 billion, according to Bloomberg calculations. Shares fell 9.3% to $32.45 each in after-hours trading in New York. The stock has climbed 33% from the IPO price through Tuesday’s close. The stock will be marketed for two days and price Thursday after markets close, according to people familiar with the matter, who asked not to be identified as the information isn’t public. Representatives for Forgent and Neos didn’t immediately respond to requests for comment. The offering comes a bit more than six weeks after Forgent and affiliates of Neos raised $1.7 billion in an IPO, as investors welcomed another opportunity to tap the artificial intelligence spending boom. Read More: DayOne Data Centers Said to Near Confidential US IPO Filing Forgent designs, manufactures and sells equipment such as transformers, switchboards and power distribution units used in data centers, which require consistent and reliable power over long periods of uptime. Private equity firm Neos created the company in 2023 and built it up via acquisitions in 2023 and 2024. For the latest news on equity capital markets activity in the US, Canada and Latin America, follow the channel or visit NI BFWECMUS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here . The company intends to use the proceeds from the shares it sells to indirectly purchase 9.3 million units from Forgent Power Solutions LLC, which intends to purchase them from a different set of Neos affiliates, according...
imaginima/E+ via Getty Images The American Petroleum Institute reportedly shows a surprise build of 2.3M barrels of oil in U.S. commercial stockpiles for the week ending March 20, after increasing by 6.6M barrels in the previous week. Gasoline inventories reportedly show a build of 500K barrels for the week, distillate inventories reportedly show a build of 1.4M barrels, and inventories at the Cus...
imaginima/E+ via Getty Images The American Petroleum Institute reportedly shows a surprise build of 2.3M barrels of oil in U.S. commercial stockpiles for the week ending March 20, after increasing by 6.6M barrels in the previous week. Gasoline inventories reportedly show a build of 500K barrels for the week, distillate inventories reportedly show a build of 1.4M barrels, and inventories at the Cushing storage hub reportedly show a build of 4M barrels. The Energy Information Administration is scheduled to release its weekly U.S. petroleum supply report on Wednesday; the average of analysts surveyed by The Wall Street Journal forecast domestic commercial crude stocks would decline by 200K barrels, gasoline inventories were expected to drop by 2.4M barrels, and distillate inventories were expected to decline by 1.8M barrels. WTI front-month April crude oil ( CL1:COM ) recently traded at $89.06/bbl, down from Tuesday's $92.35/bbl settlement price. ETF: ( USO ) More on crude oil Is The War Taking A New Turn? - WTI Technical Analysis Why U.S. Energy Stocks And Gold Could Win Big Three Hedging Strategies For Oil Prices
According to a filing with the U.S. Securities and Exchange Commission dated February 17, 2026, Icahn Enterprises LP increased its position in Centuri Holdings (NYSE:CTRI) by 3,488,372 shares during the fourth quarter. The estimated transaction value was $77.99 million, based on the average closing price for the quarter. The quarter-end position was valued at $361.99 million, up $132.34 million fr...
According to a filing with the U.S. Securities and Exchange Commission dated February 17, 2026, Icahn Enterprises LP increased its position in Centuri Holdings (NYSE:CTRI) by 3,488,372 shares during the fourth quarter. The estimated transaction value was $77.99 million, based on the average closing price for the quarter. The quarter-end position was valued at $361.99 million, up $132.34 million from the previous filing, a figure that reflects both new purchases and price movements. Centuri Holdings is a leading utility infrastructure services provider in North America, supporting the modernization and reliability of gas and electric distribution systems. With a workforce of over 8,600 employees and annual revenue of $2.84 billion (TTM), the company leverages a diversified segment structure to serve both regulated utilities and emerging infrastructure needs. Its scale and expertise position it as a strategic partner for utilities investing in safety, efficiency, and grid modernization. Icahn Enterprises LP, the diversified holding company controlled by activist investor Carl Icahn, added another 3.5 million Centuri shares in Q4. The SEC filing appears under "ICAHN CARL C," Carl Icahn's personal filing identity as the controlling person over his investment entities, which is standard practice for consolidated 13F filers. Earlier in 2025, Icahn participated in a $75 million private placement alongside a $160 million public offering, committing directly to the company at a negotiated price. The Q4 add suggests that original conviction hasn't changed. Continue reading