中集车辆公告，2025年营业收入201.78亿元，同比下降3.91%。净利润9.04亿元，同比下降16.75%。拟向全体股东每10股派发现金股利人民币2.1元（含税）。

格隆汇3月24日｜特斯拉CEO马斯克上周日宣布启动Terafab芯片制造计划，预计投资200亿至250亿美元。与此同时，特斯拉也在官网上招募半导体人才，此次招募的流程整合工程师并非一般工程职位，该职务将主导先进逻辑系统单芯片(SoC)开发，涵盖从新产品导入、量产良率提升、制程窗口分析、制程优化、WAT测试、可靠性预测，到产品认证与DPPM降低的完整流程。应征者需具备学士以上学历，并拥有至少十年以上先进制程开发经验，涵盖良率提升、代工厂合作与供应链管理能力。技术能力方面，应征者需熟悉鳍式场效晶体管(FinFET)、环绕式闸极(GAA)与晶背供电(BSPDN)等先进节点技术，并涵盖FEOL、MOL、BEOL全段制程。业界指出，上述条件几乎直接看齐目前在台积电、先进封装与大型IC设计公司中负责先进节点量产与良率爬升的关键人才。

Kwangmoozaa/iStock via Getty Images Last Wednesday , Johnson & Johnson ( JNJ ) announced that the FDA had approved Icotyde, a once-daily oral peptide for the treatment of plaque psoriasis. This drug selectively blocks the interleukin-23 receptor (IL-23) and was a joint discovery with Protagonist Therapeutics ( PTGX ). The drug has also been submitted for approval to the European Medicines Agency (EMA), and the US launch is already underway. Upon learning this news, the market reacted by penalizing AbbVie ( ABBV ), with the stock trading approximately 5% lower since. AbbVie is the maker of an injectable IL-23 blocker named Skyrizi, which is the drugmaker's best-selling drug, achieving 2025 total sales of $17.6B . The 5% drop in AbbVie's stock represents a loss in market capitalization of approximately $28 billion (a $16/share drop times 1.77 billion shares outstanding). The clear winner of this development is Protagonist. The FDA approval triggered a $50M milestone payment from JNJ with potentially $580M in future milestones and a 6-10% royalty on sales of Icotyde. While the profit-sharing agreement limits upside to some extent, it also places the costs of commercialization with JNJ. Protagonist has additional commercialization catalysts that may be realized this year, specifically Rusfertide , a first-in-class hepcidin mimetic that targets red blood cell overproduction for the treatment of polycythemia vera (PV). The company has secured Priority Review with the FDA on the basis of the drug's Phase 3 VERIFY trial that met all primary and secondary endpoints. This drug is being developed with Takeda with a PDUFA date in Q3 2026 and potential commercialization thereafter. Protagonist's platform peptide technology presents the company with a strong pipeline of additional clinical candidates in obesity, hematology, and inflammation-related diseases. Analysts see the company achieving profitability this year from milestone payments, with more durable profitability by 2028...

Bitcoin Depot ( NASDAQ: BTM ) announced on Tuesday that Alex Holmes will be appointed as CEO and Chairman after Scott Buchanan stepped down as CEO, effective immediately. Holmes had spent over 16 years at MoneyGram International, including as CFO and COO, before serving as Chairman and CEO from 2016 to 2024, and had most recently been Executive Vice Chairman of United Texas Bank. He brings decades of leadership in global payments and fintech, having led MoneyGram’s transformation into a modern global fintech operating in more than 200 countries. Brandon Mintz will transition from Executive Chair to a non-executive board member and is expected to serve as an advisor to the CEO. He built the company into one of the largest Bitcoin ATM networks and remains a long-term shareholder. More on Bitcoin Depot Bitcoin Depot Inc. (BTM) Q4 2025 Earnings Call Transcript Bitcoin Depot Inc. 2025 Q4 - Results - Earnings Call Presentation Bitcoin Depot ATMs suspended in Connecticut amid compliance failures Bitcoin Depot outlines 30%-40% 2026 revenue decline as it diversifies into fintech Seeking Alpha’s Quant Rating on Bitcoin Depot

Monty Rakusen/DigitalVision via Getty Images Investment Approach Fidelity® International Growth Fund is a diversified international equity strategy with a large-cap growth orientation. Our investment approach targets companies with multiyear structural growth prospects, high barriers to entry and attractive valuations based on our earnings forecasts. Investment ideas typically fall into three main categories: structurally attractive growth themes, where investors may be underestimating the durability of growth drivers and long-term earnings power; cyclically out-of-favor companies with limited competition and pricing power, where investors may be focusing on near-term cyclical concerns and discounting long-term prospects; and companies with strong earnings potential whose share prices have fallen due to macroeconomic events. We strive to uncover these companies through in-depth fundamental analysis, working in concert with Fidelity's global research team, with the goal of capturing market upside while limiting downside participation. Performance Review For the final quarter of 2025, the fund's Retail Class shares gained 0.29%, trailing the 1.88% advance of the benchmark MSCI EAFE Growth Index (Net MA). This result was affected by a downward fair-value pricing adjustment of 0.52 percentage points. Fair-value pricing is an adjustment process that attempts to best represent the value of the fund's securities as of the close of trading in U.S. markets, accounting for any major changes occurring after the close of foreign markets. Since index performance is not adjusted in a similar manner, this can be a source of performance deviation between the fund and its benchmark in any given time period. The impact of fair-value adjustments tends to smooth out over the long term, where performance comparisons remain quite favorable. International growth stocks extended their upward momentum the past three months, concluding 2025 up roughly 18%, with both developed and emerging ma...

一个人就是一支队伍，“一人公司”从概念走向产业化。 近日，上海闵行区“虹橙OPC社区”正式启用，成为阿里在全国布局的首个国际化OPC社区。与此同时，北京、深圳、杭州、苏州等城市也密集出台扶持和鼓励“一人公司”发展的政策文件。 AI智能体OpenClaw（龙虾）的兴起，让“养只龙虾当员工”照进现实。AI智能体从大模型接口进化为能调用工具、执行任务的“数字员工”，为创业者和小微企业打开了新发展可能，一场由AI智能体驱动的创业变革已按下快进键。 政府、大厂加速入局“一人公司” “一人公司”（One Person Company，以下简称“OPC”），可以看作是零工经济、数字游民的新形态。随着AI从“对话”进化到“干活”的智能体形态，个人借助AI工具，就能承担代码、内容、客服等标准化任务，形成“个人+数字员工”的新型创业模式。 而让这一模式从概念走向可规模化复制的关键，是以OpenClaw为代表的AI智能体工具在“自主执行”能力上的突破。 OpenClaw与传统对话类模型的本质区别，在于其具备自主执行、流程编排、多角色协同、定时触发、系统控制与扩展集成等能力。用户能够通过多智能体架构、自定义技能、定时任务等深度配置，使整体效率大幅度提升。 这也让“养只龙虾当员工”从极客圈的玩笑，演变为一场席卷全行业的生产力革命。 针对这一新兴业态，地方政府热情高涨，政策扶持力度持续加码。2026年以来，北京、上海、深圳、杭州、苏州等城市已密集出台OPC相关支持方案。 广东省出台《广东省支持人工智能OPC创新发展行动方案（2026—2028年）》，明确提出2026年要培育10个具有引领效应的人工智能OPC生态社区，到2028年建成百个社区；上海OPC相关政策也在加速推出，临港新片区推出“超级个体288行动”，算力补贴最高50万元、融资支持最高500万元，浦东张江推出政策给予新注册OPC最高30万免费算力等等。 值得注意的是，3月23日，上海闵行区“虹橙OPC社区”正式启用，该社区由虹桥国际中央商务区管委会、闵行区政府及新虹街道携手阿里旗下虹桥阿里中心联合共建。据了解，首期将开放近100个共享办公位。 入局OPC赛道的互联网大厂，不止阿里一家。日前，杭州市上城区人民政府与百度签署战略合作协议，百度智能云千帆大模型（杭州）产业创新中心落户，将以百度千帆大模型平台为核心底座，为上城区OPC产业深度...

农夫山泉发布2025年财报，营收525.53亿元，增长22.5%，利润158.68亿元，增长30.9% 2月，来自AC尼尔森的最新数据显示，包装饮用水市场大盘出现量价齐跌：与去年同期滚动年度相比，销售量下降1.1%，销售额下降3.1%。在价格竞争加剧、行业利润承压的背景下，增长动能明显趋弱。 正是在这样的行业背景下，农夫山泉给出了另一种答案。 据其2025年度财报中的财务分析指出，公司通过管控电商渠道销售占比，更好地稳定了经销体系价格秩序，保障了经销体系整体盈利能力稳定和本集团的健康发展。 在这一策略下，农夫山泉2025年财报呈现出一种与众不同的增长级别和态势：营收突破525.53亿元，增长22.5%；净利润增速更高，较同期增长30.9%达到158.68亿元。在行业进入存量竞争、价格战和补贴赛层出不穷的背景下，这一表现被视为“天花板级”。 数据显示，近年来我国休闲食品饮料零售行业电商占比持续提升，2025年已达14.1%。由于直接比价竞争，线上渠道往往成为价格战的集中地，各企业竞相参加电商平台活动，通过促销与补贴换取销量增长，但利润空间也随之被压缩。 相比之下，农夫山泉始终对电商渠道保持克制。此前其电商销售占比大致维持在5%左右，2025年公司上下一致管网络平台低价行为，避免参与内卷式价格倾轧，稳定整体利润。 农夫山泉显然具备通过线上低价获取更多销量的能力，但它却选择了主动放弃部分低价空间，将销售更多地保留在其他价格更为稳定的渠道体系中，在保障线下经销商利润的同时，也保障了公司利润率的健康提升。 价格体系，是这一策略的核心。线上一旦形成持续低价，价格预期的锚点将迅速下移，并向线下传导，压缩经销商利润空间，削弱渠道稳定性，最终演变为以低价为导向的无序竞争。 这种影响在实际经营中往往更为直接。多位经销商表示，一轮线上价格战即便持续时间不长，也会带来半个月至一个月的价格混乱期：终端价格难以稳定，渠道观望情绪上升，进货节奏被打乱，正常销售体系受到冲击。 在当前体量下，这类“价格扰动”往往对应的是数十亿元规模的销售波动。业内人士直言，一次价格战的连锁反应，可能影响30亿至50亿元的销售节奏。 基于此，农夫山泉的克制避免电商渠道成为价格反馈/预期体系的主导力量。在激烈竞争环境中，农夫山泉并不主动发起价格战，但在必要时具备应对价格波动的能力，同时避免将低价换取销量作为常态化策略。...

格隆汇3月24日｜现货钯价下跌逾3%，至每盎司1,389.50美元。

核心要点 英国政府于周二出台新规，要求英格兰地区所有新建住宅必须安装热泵与太阳能板。 此举是该国应对伊朗战争引发的能源冲击的举措之一。 英国能源大臣埃德・米利班德表示：“无论是将太阳能板作为新建住宅的标配设施，还是让民众能在商店买到即插式太阳能设备，我们都决心推广清洁能源，以此实现国家能源主权。” 2025 年 6 月 2 日，在伦敦西南部萨里郡法纳姆的一处住宅内，莲花能源公司的热泵安装工理查德・威尔金斯正在为威能 aroTHERM plus 型热泵接管拧固。 英国政府周二推出新规，要求开发商在英格兰全境所有新建住宅中安装热泵与太阳能板，这是政策制定者应对伊朗冲突经济影响的最新举措。 英国大臣们表示，伊朗战争以及石油市场史上最严重的供应中断，凸显了将清洁能源作为能源安全保障手段的必要性。 《未来住宅标准》—— 一套将于 2028 年在英格兰实施的新建建筑规范 —— 将明确要求住宅建设时配备现场可再生能源发电设施，其中绝大部分预计将由太阳能供电。 该规定还要求新建住宅采用低碳供暖方式，如热泵和热力管网。 英国政府补充称，未来数月内，民众可在商店购买到能安装在阳台的即插式太阳能板。 英国能源大臣埃德・米利班德在声明中称：“伊朗战争再次表明，推动清洁能源发展对我国能源安全至关重要，能让我们摆脱无法掌控的化石燃料市场的束缚。” 他补充道：“无论是将太阳能板作为新建住宅的标配设施，还是让民众能在商店买到即插式太阳能设备，我们都决心推广清洁能源，以此实现国家能源主权。” 2026 年 3 月 3 日，英国伦敦，能源安全与净零排放大臣埃德・米利班德抵达唐宁街，出席春季财政声明发布前的内阁会议。 该指导方针大体获得能源行业人士支持，同时部分活动人士呼吁英国政府采取更多行动，降低本国对化石燃料的依赖。 章鱼能源创始人兼首席执行官格雷格・杰克逊在声明中表示：“民众希望摆脱这类化石燃料危机 —— 中东冲突爆发以来，太阳能相关咨询量激增 50%，热泵和电动汽车的需求也大幅上涨。” 杰克逊称：“每一块太阳能板、每一台热泵、每一组电池都能降低开支，提升英国的能源独立性。政府此次最新举措，有助于降低电气化转型成本。” 气候科学家多次警告，要遏制全球变暖，必须大幅减少化石燃料使用，煤炭、石油、天然气的燃烧被认定为气候危机的主要诱因。 能源安全 2 月 28 日爆发的美国与以色列主导的对伊朗战争，仍...

claffra/iStock via Getty Images An Israeli official said Tuesday that any deal to end the war with Iran does not appear close, suggesting the purported diplomacy may be a tactic to buy time as Israel presses ahead with military operations in Iran and Lebanon, according to a media report. “The Iranians do not appear to be in any concession mode - we are not there yet,” the official said, CNN reported. The assessment comes even after U.S. President Donald Trump said Monday that the U.S. had held productive talks with Iran about ending hostilities, although Iran denied that negotiations had occurred. Israeli Defense Minister Israel Katz made plain Tuesday morning that Israel is not scaling back its bombing campaign in Iran, CNN reported. “We continue striking Iran with full force," he said at a situational assessment. With optimism fading over a possible de-escalation in the Iran war, oil prices pared losses after tumbling in the prior session, with Brent futures ( CO1:COM ) advancing 2.8% to $102 per barrel and U.S. West Texas Intermediate ( CL1:COM ) rising 4.1% to around $92 a barrel at press time. Oil ETFs: ( USO ), ( UCO ), ( DBO ), ( OILK ), and ( USL ). Natural Gas ETFs: ( UNG ), ( BOIL ), and ( UNL ). Energy ETFs: ( XLE ), ( AMLP ), ( VDE ), ( XOP ), ( OIH ), and ( IXC ). More on United States Oil Fund LP ETF, United States Brent Oil Fund LP ETF Commodities: De-Escalation Hopes Fade Three Hedging Strategies For Oil Prices Oil Plunging To $50 Could Be The Next Big Catalyst For Stocks Bahrain pitches UN resolution to secure Hormuz shipping; Gulf states weigh joining war Crude climbs on supply worries after Iran rejects U.S. negotiation claims

文远知行最新披露的财报，恰恰成为了这一行业转折的缩影。这份财报的真正意义，并不在于账面上的收入是否翻倍，也不在于亏损是否收窄，而在于它开始逼近一个更残酷、也更本质的问题——当规模效应真正来临时，这门生意究竟能否在财务上成立？ 增长还在，但“商业逻辑”正在切换： 从讲技术故事，到验证单位经济 如果仅仅停留在表面数字，这确实是一份符合资本市场预期的“标准答案”： 收入接近翻倍，产品收入暴涨三倍，IFRS 准则下的亏损也在收窄。 然而，对于深耕硬科技领域的投资者而言，真正的信号隐藏在收入结构的剧烈变动之中。文远知行正在经历一次从“服务驱动”到“产品 + 规模交付”的商业结构切换。这意味着，公司不再仅仅是一个出售定制化技术方案的服务商，而是开始尝试售卖“标准化的自动驾驶能力”。 这一变化，本质上是 Robotaxi 行业最关键的一次跃迁：从项目制收入（一次性、高人力成本）走向产品化收入（可复制、高边际效应）。财报显示，文远知行的产品收入占比在一年内从 24% 跃升至 52%，几乎可以视为商业模式的一次“重构”。 这背后对应的，是整个自动驾驶行业从“验证技术可行性”进入“验证商业可行性”的深水区。 在技术验证阶段，客户愿意为“可能性”支付高昂的研发服务费；但在商业验证阶段，客户只为“确定性”的运力买单。 但矛盾也随之浮现：收入在爆发，利润却没有同步改善。毛利率维持在 30% 左右，这个数字在软件行业显得偏低，在硬件行业却尚可，恰恰反映了文远知行目前的混合属性——既背负着硬件的折旧与成本，又尚未完全释放软件的规模效应。 更关键的是，经调整亏损反而扩大，这并非经营恶化的信号，而是意味着公司在“主动加大投入”。在电话会议中，管理层反复强调的降本（BOM 成本）、提效（远程辅助）、拿牌（去安全员），不再是单纯的技术叙事，而是赤裸裸的“财务模型叙事”。 从资本市场视角来看，这种阶段的公司通常意味着估值逻辑的切换。 过去可以用“技术领先 + 想象空间”的 PS（市销率）倍数来讲故事，现在市场开始追问：你什么时候能在一个城市里真正实现单城盈利？ 对标美股，可以参考自动驾驶最直接的标的——Waymo（隶属 Alphabet）和 Cruise（隶属 General Motors）。这些巨头同样长期处于亏损状态，但市场的关注点已从“技术指标”转移到了“单城盈利模型”的打磨上。 过去三个月股价的波...

Conservationists celebrate second twin birth just two months after another found in Virunga national park A second set of mountain gorilla twins has been born in Virunga national park in the Democratic Republic of the Congo (DRC), in what conservationists are celebrating as an “extraordinary” event for the endangered primates. Just two months after tiny twin mountain gorillas were discovered by rangers in the Virunga massif, in eastern DRC, another rare twin birth has been found by park wardens. This time, an infant male and female have been spotted in the Baraka family, a troop of 19 mountain gorillas that roam the region’s high-altitude rainforests. Continue reading...

卡塔尔外交部发言人安萨里24日说，卡塔尔目前未参与美国和伊朗之间的调停工作，而是将重点放在维护本国安全上。安萨里当天在一场例行记者会上说，当前卡塔尔的重点在于维护国家安全，并应对卡塔尔因各类袭击带来的影响。卡塔尔正与地区内外国家保持接触，以推动问题解决。他呼吁尽快通过外交途径结束这场冲突。（新华社）

georgeclerk Samsung Electronics' ( SSNLF ) management ​and its South ‌Korean workers' union have agreed to ​restart discussions ​on bonuses, according to the union, Reuters reported. Samsung did not immediately respond to a request for comment from Seeking Alpha. Last week, the union, representing about 90,000 workers accounting ​for over 70% of the company's ‌workforce ⁠in South Korea, had voted ​to ​authorize ⁠a strike, raising the risk ​of production ​disruption. More on Samsung Samsung Brings AI And Hardware Refinements To S26 Samsung Electronics Co., Ltd. (SSNLF) Q4 2025 Earnings Call Transcript Samsung Electronics Co., Ltd. 2025 Q4 - Results - Earnings Call Presentation Smart TV Wars: EU broadcasters push for tougher oversight of big tech companies KOSPI plummets 5.8% as 48-hour U.S. ultimatum and new governor selection weigh on Seoul

Dennis Diatel Photography/iStock Editorial via Getty Images Introduction Following the introduction of the first round of Ethereum exchange-traded funds (which did not offer staking), we recently saw the launch of BlackRock’s iShares Staked Ethereum Trust ETF ( ETHB ), which began trading on March 12 th . This is one of a limited number of Ethereum exchange-traded funds that currently introduce a yield component, providing investors the ability to earn from on-chain staking rewards. While we previously argued that the Grayscale Ethereum Staking Mini ETF ( ETH ) was one of the best ways for longer-term investors to allocate to Ethereum (given its low expense ratio, strong liquidity, and potential yield), we now contend that the new iShares Ethereum ETF stands to be a strong potential alternative. While ETHB’s AUM remains well below other top ETHUSD funds, we see the reduced expense ratio, currently higher staking ratio, and the strength of the fund sponsor (BlackRock) as key differentiators that could support sustained inflows and long-term growth. Staking and Other Fund Differentiators With the introduction of the iShares Staked Ethereum Trust ETF, investors are given yet another way to gain ETHUSD exposure in an ETF wrapper while simultaneously receiving yield from staking. Currently, the only other Ethereum ETFs that offer access to staking are the Grayscale Ethereum Staking Mini ETF and the Grayscale Ethereum Staking ETF ( ETHE ). As we have covered previously, while ETHE maintains its first-mover advantage (with holdings predating ETF conversion), the steep expense ratio of 2.50% makes it one that investors should largely avoid. In the current landscape, investors looking for Ethereum exposure and access to yield are left to decide between either ETH or ETHB. While we admit that both provide adequate exposure to the underlying asset, their yield components differ. According to the fund’s prospectus , ETHB aims to stake as much of its Ether as practicable (i.e., ...

黄金无疑是过去三年全球表现最为亮眼的大类资产之一。金价的攀升让一家家黄金企业资本动作频繁，其中就包括有着“中国最大民营黄金生产商”称号的赤峰黄金。2025年3月10日，赤峰黄金成功登陆港交所，成为内蒙古首家“A+H”上市公司、全国第三只“A+H”黄金矿业股。 受金价上涨等因素影响，坐拥诸多金矿的赤峰黄金，股价迎来暴涨。其股价从2019年时仅约4元/股上涨至最高51.5元/股。这也助推了赤峰黄金创始人赵美光身价上涨至百亿富豪行列。 周期轮动。截至3月23日发稿，现货黄金已连续八个交易日下跌，几乎抹去2026年全部涨幅。暴跌之际，赤峰黄金卖了。 紫金矿业集团股份有限公司（以下简称“紫金矿业”）发布公告，宣布其全资子公司紫金黄金（集团）有限公司将以协议收购A股及认购定向增发H股的方式，合计出资约182.58亿元人民币，取得赤峰吉隆黄金矿业股份有限公司（以下简称“赤峰黄金”）的控制权。 交易由两部分构成：一、收购A股股份，对价约100.06亿元；二、认购定向增发H股，对价约93.86亿港元（约82.52亿元）。 交易完成后，行业“老五”将正式纳入“老大”紫金矿业麾下，实际控制人变更为福建省上杭县财政局。 赤峰首富的“黄金发家史” 赤峰黄金的故事，始于一位吉林籍企业家——赵美光。这位出生于1960年代的创业者，早期通过收购破产银矿、金矿的方式，将一家地方小矿企逐步打造成头部黄金企业，被业界誉为“内蒙古四大富豪”之一。 黄金开采其实是资本密集型行业，赵美光的财富积累更源于一笔笔出手果断的资本收购。 第一笔重大收购就是对八大矿山之一的天宝山矿务局的收购。2004年，位于吉林延边的天宝山矿务局破产，时任世纪兴集团董事长的赵美光以1.7亿元的价格入主，并在此基础上成立了吉林瀚丰矿业科技有限公司。 天宝山矿务局是一个拥有百年历史的矿产地，相传慈禧用的银杯银盏便出自此处。赵美光入主后，便和工人同吃同住建立了多家选矿厂，最终获得过亿年产值的回报。 在此期间，赵美光还将目光锁定在金矿上。2010年前后，赵美光通过国有企业破产资产挂牌拍卖方式买下了吉隆矿业，为接下来的黄金事业打下地基。 吉隆矿业成立于2005年，前身为国有赤峰撰山子金矿，赵美光入主后便成为了“赤峰黄金”这一主体的首家子公司，主要从事黄金采选及资源综合回收利用业务，产品有黄金、白银、铋、钯、铑等多种稀贵金属。 2012年12月，...

voffkatw/iStock via Getty Images U.S. policy on global oil markets is showing striking continuity across administrations, with both Donald Trump and Joe Biden ultimately constrained by one overriding factor: keeping oil prices in check. Despite sharp differences in rhetoric, decisions around sanctions and enforcement suggest a shared reluctance to disrupt global supply. That assessment comes from Robin Brooks, senior fellow at the Brookings Institution and former chief economist at the Institute of International Finance, who argues that energy economics is quietly dictating U.S. foreign policy. In his analysis, both administrations have avoided aggressively choking off key oil flows, from Russia after the Ukraine invasion to Iran amid Middle East tensions, because of the political risks tied to higher fuel prices. Brooks’ central point is that domestic considerations dominate: rising oil prices feed directly into inflation and voter sentiment, forcing policymakers to prioritize stability over strategy. This results in selective enforcement of sanctions and tacit tolerance of certain exports, even when they appear inconsistent with stated geopolitical goals. The implication, Brooks argues, is clear: "Oil is king." Whether under Trump or Biden, the political cost of an oil shock compels similar trade-offs, revealing continuity where voters might otherwise expect stark differences. Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on oil Commodities: De-Escalation Hopes Fade Three Hedging Strategies For Oil Prices Crazy Swings All Across Markets As U.S.-Iran Talks Pick Up: Gold Grazes $4,000, WTI To $90 Bahrain pitches UN resolution to secure Hormuz shipping; Gulf states weigh joining war Well-timed oil trades before Trump post stir market scrutiny - report

Wolterk/iStock Editorial via Getty Images Thesis General Mills, Inc. ( GIS ) has failed to meet expectations per the company’s last quarterly report, and investors have (arguably rightly) been pulling out. However, I believe we’ve reached the bottom or are at least approaching it. Given this, I rate GIS a soft buy. That said, GIS does face some serious headwinds, like GLP-1 usage and a shift among consumers towards buying private labels. GLP-1 Is Curbing Appetites GLP-1 tends to discourage compulsive food purchases . If a driver is hungry and driving by their favorite fast food chain, there's a good chance s/he will take a spin through the drive-thru. By tamping down on appetite, GLP-1 may reduce compulsive purchases and could encourage more people to eat at home to save money. More at-home eating could bolster General Mills and other staples stocks and ETFs. Research has found that households with at least one GLP-1 user undergo rather dramatic shifts in consumption. This includes a 5.3% decrease in spending on groceries within six months. That said, coffee chains, limited-service restaurants, and fast food restaurants saw spending drop by 8%, substantially exceeding the grocery spending decline. GLP-1 is gaining more and more traction in the United States and indeed around the world. Obesity can be a massive drain on healthcare systems, so getting people to lose weight could reduce costs for insurers and governments alike. Already, some governments are striving to get GLP-1 into the hands of their citizens. The Trump Administration, for example, reached an agreement with Eli Lilly and Novo Nordisk to sell GLP-1 for $245 a month to Medicare and Medicaid patients. Further, GLP-1 medications can now be purchased through TrumpRx for $350. While not exactly cheap, this is far less than the +$1000 price tag folks had to contend with previously. Outside the United States, patents have expired in India . Now the market is being flooded with cheaper generic alternatives. T...

JHVEPhoto/iStock Editorial via Getty Images J.P. Morgan on Tuesday upgraded Ecolab ( ECL ) to Overweight from Neutral, citing its balance sheet strength and ability to navigate a more difficult operating environment . The firm maintained a price target of $295, based on a valuation of roughly 20 times forward earnings before interest, taxes, depreciation and amortization. The upgrade reflects a view that recent share price weakness already accounts for potential earnings pressure tied to input costs. Ecolab’s ( ECL ) stock has fallen about 15% since late February, underperforming the broader market, as investors reacted to rising geopolitical tensions and concerns about raw material costs. The decline has placed the company closer to peers in coatings and materials, which are more sensitive to economic cycles, though J.P. Morgan analysts led by Jeffrey Zekauskas said the reaction may overstate the risks. Pricing actions aim to protect margins The company plans to implement surcharges of 10% to 14% beginning in April to offset higher raw material costs. Analysts said Ecolab ( ECL ) has improved its ability to execute price increases compared with earlier periods, supported by stronger systems and experience gained during prior inflation cycles. Competitors have introduced similar pricing measures, suggesting a broader industry response to cost pressures. Portfolio shift targets faster growth Ecolab ( ECL ) is pursuing acquisitions and investments aimed at improving its long-term growth profile. Recent deals include water treatment capabilities and cooling technology used in data centers, which are expected to benefit from rising demand for more efficient computing infrastructure. The company estimates these initiatives could add about one percentage point to its long-term growth rate. Volume trends remain uneven Demand has been mixed across end markets. Volumes were flat in 2023 and recovered modestly in 2024, but weakened again in 2025 due to macroeconomic uncertain...

Key PointsThe Strait of Hormuz blockade almost guarantees inflation will soar in the upcoming months, which makes high-yield savings accounts less attractive.

财联社3月24日讯（记者 何凡） 今日举行的 爱美客 （300896.SZ）业绩会吸引了众多投资者参与。 “股价跌跌不休，请问管理层有何举措？”“公司有没有稳住股价的具体措施？”“为什么不太注重上市公司股价的维护呢？”“是否能拿出一部分钱回购并注销？股票指数是面子。” 业绩会中，不少投资者表达了对公司现阶段股价的不满。同时，由于分红的减少，更是引发了投资者的颇多揣测。此外，公司方面还就AestheFill（中文商品名：艾塑菲）以及注射用A型肉毒毒素等产品相关问题进行了回复。 针对股价问题，爱美客董事长简军回应称：“公司一直重视市值管理，后续如有回购计划，会及时履行信息披露义务。” 其次，2025年公司销售费用增长近四成，攀升至3.87亿元，也进一步拖累了业绩，爱美客总经理石毅峰解释称：“分季度看，2025年四季度销售费用同比增幅较大，主要是由于一方面公司在四季度增加市场活动，市场投入相应增加，提升品牌影响力；另一方面，公司收购韩国Regen公司后，承接了其在国内的产品销售业务，相关市场人员以及营销处于投入阶段，随着业务逐步爬坡，销售费用率将回到合理水平。” 随着竞争对手不断增多，以及宏观环境、行业竞争形势变化等因素影响，2025年爱美客交出自上市以来首份营收、净利润双降的年报，根据预案，公司拟向全体股东每10股派发现金股利8元（含税）。与下滑的业绩相对应的是公司“跌跌不休”的股价，在近一年的时间中，爱美客股价自2025年3月11日攀上203.12元/股的阶段性高点后，便呈现出震荡走低的趋势，年初至今，公司股价已跌超18%。 另一方面，2025年爱美客两大核心产品——溶液类与凝胶类注射产品销售量均有所下滑，因此，公司新品“童颜针”AestheFill和今年1月刚获批的注射用A型肉毒毒素备受关注。 为了争夺艾塑菲中国大陆地区独家经销权，爱美客与原代理公司——江苏吴中展开了一系列博弈，最终结果仍待揭晓。针对该起仲裁案件和艾塑菲目前销售情况，简军透露称，AestheFill产品在市场一直顺利推进中，目前韩国REGEN公司收购后整合进展顺利，新工厂顺利投产并出货，产能不断释放，同时其表示，“仲裁案件正在审理中，公司已按照相关的法律、法规规定披露仲裁案件及进展情况。” 而对于肉毒产品，石毅峰透露称，“国家规定进口毒麻类产品需要检验检测合格才可以正式上市销售，这个检验检测时间周期...

藏格矿业公告，2026年3月24日，公司通过股份回购专用证券账户以集中竞价交易方式首次回购公司股份77100股，占公司目前总股本的0.0049%。其中，最高成交价为74.49元/股，最低成交价为73.63元/股，成交总金额为572.18万元（不含交易费用）。