格隆汇3月21日｜多家伊朗媒体21日援引伊朗武装部队发言人的话报道说，若美国和以色列再次袭击波斯湾的民用船只，伊朗将采取严厉的对等行动。 该发言人说，美以“屡战屡败，无力抵挡伊朗武装部队的猛烈攻势”，将袭击目标转向波斯湾内的私人及客运船只。 发言人警告，如果打击民用船只这种“懦弱的侵略行径”再次发生，将采取严厉的对等行动。 据伊朗塔斯尼姆通讯社20日报道，伊朗伦格港的16艘货船遭美以“野蛮袭击”。这些货船是当地居民谋生的重要工具，袭击直接针对这些货船，给当地经营者带来重大损失。

airdone/iStock via Getty Images Setting The Stage Advanced packaging is gaining traction at a CAGR of 8.39% , driven by the demand for high-performance semiconductors. This demand is majorly from electric vehicles (EVs), advanced driver assistance systems (ADAS), and other high-performance products. I am looking at this market tailwind as an anchor on which advanced packaging relies on. This is why I believe Amkor Technology, Inc ( AMKR ) is continuously positioning itself in this market to seize the opportunity. As we speak, AMKR is the most relied on company in advanced packaging by the world’s leading semiconductor companies in completing their semiconductor designs. From the recently released FY2025 report, Amkor recorded 82.8% of the revenues from advanced products. AMKR is already in a profitable advanced packaging business at a net income of about $374 million in FY2025, up from $354 million in FY2024. Even more interesting, AMKR is in partnership with NVIDIA, a world-leading chip designer, and will be providing scale advanced packaging at its Arizona facility , scheduled to commence production by 2028 . This is a testament that the company is operating on an existing reality heading to other possibilities I will explain later such as Arizona’s new fab. With this whole semiconductor ecosystem in favour of Amkor, I believe this is why AMKR’s price return is currently at about 136%%, beating the S&P 500, which is at approximately 15% over the last one year. Seeking Alpha The Reality In Advanced Packaging Before I get into AMKR specifics, I will first look at the market tailwinds around advanced packaging. To begin with, let’s look at it this way. Think of an existing business in a rapidly growing market that has hit the road by recording positive YoY growth. But this company has not settled at that point. Instead, it continues to invest more capital to provide advanced products that match the market needs to increase its market access. Realistically, this would...

格隆汇3月21日｜伊朗学生通讯社援引一位伊朗官员的话，回应了特朗普总统关于美国可能即将结束军事行动的言论。“德黑兰不相信特朗普的言论；美国在该地区的军事活动水平没有发生任何实质性变化，”这位官员说，“特朗普的声明与实际情况不符。德黑兰方面认为，现在应该给特朗普一个教训。”特朗普周五表示，他正在考虑“逐步减少” 在伊朗的军事行动 。但他后来表示，他“不想与伊朗停火”。特朗普告诉记者：“你知道，当你正在彻底摧毁对方的时候，你不可能停火。”

iantfoto/E+ via Getty Images Written by Jussi Askola, CFA for High Yield Investor I have been actively investing in high-yielding stocks for well over a decade now, and there are many things I wish I knew before I got started. My results would have been a lot better, but unfortunately, back when I got started, there weren't many investment forums like today, where you can learn from other investors. As a result, I had to learn many things the hard way, so to speak, occasionally suffering large losses from poor investment decisions. Today, I am going to give you the chance to learn from my past mistakes so that you can hopefully avoid similar losses in the future. Lesson #1: Stick To What You Know Everybody always talks about how crucial it is to diversify your portfolio. I agree that it is important, but I quickly learned that it has its limits as well, especially if you are an active investor seeking to outperform the market. Back when I first got started, I felt the need to diversify across most sectors of the market in an effort to reduce risks. On paper, this seemed like a great idea, but in practice, it failed because you cannot realistically be an expert at everything. This meant that I was making poorly informed investment decisions just for the sake of diversification, and that led to some losses that could have been avoided in many cases. I was getting a false sense of safety by being widely diversified, but in reality, I was increasing risks by acting like a "jack of all trades". Over time, I learned that if you want to have a chance to outperform the market, you need to become an expert at certain specific things and then intensely focus on those investments to derive alpha for your portfolio. In my case, this meant investing heavily in REITs ( VNQ ), MLPs ( AMLP ), BDCs ( BIZD ), asset managers ( GPZ ), listed infrastructure, and other real asset-based companies. I found that despite these companies often enjoying stable and predictable fundamentals, the...

Kraivuttinun/iStock via Getty Images Over the past couple of years, cumulative inflation has been massive. For example, if we measure it from 2020 to 2026 (February) we will get a cumulative result of 26.3%. The way to read this is that if in 2020 we purchased a basket of goods/services for $1,000 then now the same basket would cost ~$1,263. This dynamic has directly eroded the purchasing power of investor portfolios. And the thing is that the ones who have suffered the most here are prudent investors, who have avoided richly valued areas of the market in which record-beating names have laid: e.g., Nvidia Corporation ( NVDA ), Micron Technology ( MU ), Palantir Technologies ( PLTR ) etc., all delivering returns well-above the aforementioned cumulative inflation rate. Instead, these conservative and margin of safety-oriented investors, who typically invest for retirement and not alpha returns have faced the biggest inflation-related headwinds. This is because safety, quality and income predictability are factors, which per definition require a portfolio tilt towards fixed income like products, which tend to perform quite bad in inflationary environments (at least on an inflation adjusted basis). In this context, I like to use Realty Income Corporation ( O ) as an example. Realty Income is, arguably, one of the most well-known retirement income powerhouses out there - e.g., dividend aristocrat, upper investment grade balance sheet, monthly dividends etc. So, if deployed capital in O on January 2020 at then-current yield of ~3.9% and factored in the realized annual dividend growth rate of around 3.5%, we would barely match the cumulative inflation rate. Given the most recent CPI print and the surging oil prices, we are very likely talking about a continued erosion in purchasing power. And since it its energy cost driven, food, beverages and utility items will most probably rise at a higher rate than the aggregate CPI figure - i.e., consumption items, which are most rel...

International Business Machines (IBM 1.56%) stock surged back to life over the last three years, more than doubling in value. That remains true despite a material pullback in 2026 as investors worry about the impact that artificial intelligence (AI) will have on its business. Here's why now could still be a good time to buy IBM if you are a long-term investor. International Business Machines changes with the times The main reason to buy IBM now, after a recent drawdown, is the technology giant's quantum computing business. While AI is the darling of Wall Street today, quantum is waiting in the wings to join, if not take over, the spotlight. AI uses massive amounts of computer power, and quantum has the potential to vastly increase the amount of computing power available. However, the reason to buy IBM stock isn't directly related to quantum computing. That's really a sign of a much bigger story. To understand IBM, you really need to go back about 100 years, to the company's founding. When IBM started out, it made things like scales. That's a far cry from quantum computing, which is the important takeaway. IBM didn't simply spring into existence; it evolved and changed over time into the business it is today. The company has proven, many times over, that it can keep pace with the technology that its largely business customers need and want. IBM has a unique culture Not many companies manage to survive as long as IBM has. It requires a specific culture that lives beyond any single employee, generation, or technology. Right now, investors are worried that AI will hurt IBM's business. It might in the near term, but over the long term, the company is highly likely to use AI as a tool to better serve its customers. Expand NYSE : IBM International Business Machines Today's Change ( -1.56 %) $ -3.90 Current Price $ 246.47 Key Data Points Market Cap $227B Day's Range $ 244.59 - $ 250.12 52wk Range $ 214.50 - $ 324.90 Volume 236K Avg Vol 5.7M Gross Margin 57.59 % Dividend Yie...

United Airlines Holdings Inc. Chief Executive Officer Scott Kirby warned of $175 oil prices that would dramatically drive up jet-fuel expenses, outlining worst-case scenarios even as the aviation industry benefits from current record travel demand. The already elevated price of jet fuel is prompting the airline to cut 5 percentage points of capacity in the near term where routes are temporarily unprofitable, Kirby told staff in a memo late on Friday. At the same time, he said the carrier is strong enough to weather a crisis and won’t defer investments or furlough workers. “The reality is, jet fuel prices have more than doubled in the last three weeks,” Kirby told employees in the memo. “If prices stayed at this level, it would mean an extra $11B in annual expense just for jet fuel. For perspective, in United’s best year ever, we made less than $5B.” Airlines globally are grappling with a painful spike in oil prices. Major US carriers like United are not hedged on fuel, leaving them without protection from volatile price jumps. The broader industry has already responded with fare increases and fuel surcharge to claw back some of the elevated costs. The messaging from Kirby to staff sought to outline his plan to ride out escalating costs that risk pushing some airlines to the edge of financial survival, and to deploy a tactical playbook to respond. “We’re ready, we have a plan and we’re going to continue executing that plan,” Kirby said. United, the largest airline in the world by capacity, said it is forecasting oil to stay above $100 a barrel until the end of 2027. American Air Considers Liquidity Options, Prepares New Jet Order Airline Bookings Surge as Travelers Rush to Lock In Fares To rein in costs, the airline is canceling 3 percentage points of flying in off-peaks such as overnight, mid-week, and weekend flying in the second and third quarters, in what Kirby described as “tactically pruning” of the network. The war-related pause of the airline’s Tel Aviv and D...

The stock market is certainly taking investors on a roller-coaster ride. However, there are some excellent dividend stocks I own in my portfolio that still allow me to sleep soundly at night. In this video, I'll discuss Prologis (NYSE: PLD) , Realty Income (NYSE: O) , and three more. *Stock prices used were the morning prices of March 20, 2026. The video was published on March 21, 2026. Continue reading

格隆汇3月21日｜据Argus，中东海湾地区的高级官员表示，该地区的产油国敦促美国“直接”解决霍尔木兹海峡石油运输中断的问题，并警告说，诸如利用所谓的伊朗“海上石油”之类的临时措施，可能会加强伊朗的地位，同时使地区生产国面临风险。美国财政部下属的外国资产控制办公室此前发布通用许可文件，允许截至当日已经装船的伊朗原油和石油产品交付和销售，以增加石油市场供应。海湾国家高级官员表示，美国的这一举措在海湾国家看来只是权宜之计，未能直接解决核心问题，即全球最关键的能源运输要道被有效切断。海湾地区官员警告称，此类措施可能造成一种不平衡的局面：伊朗原油继续流入市场，而与美国结盟的海湾产油国的出口却受到限制。另一位高级官员表示，该地区的产油国不能接受“伊朗挟持霍尔木兹海峡”的局面，并称这种情况将导致全球能源市场发生结构性转变。

Strictly Come Dancing’s longest-serving female professional dancer, Karen Hauer, has quit the show after 14 years. In a video posted on Instagram, Hauer said it was “the right time to close this chapter and take on new projects in other areas I’m passionate about”. She continued: “Strictly completely changed my life, not only as a performer and a teacher but as a human being. I’ve had the privilege of meeting so many incredible people and brilliant celebrity partners who have become close friends and people I admire so much.” Hauer said she would “even miss standing in front of the judges. Can you believe that? Smiling politely while sometimes secretly disagreeing. It’s been an honour to share the ballroom with them.” Thanking her fans, she said: “I’m so grateful you watched me grow over the years and witnessed all of my different hair styles.” The Venezuelan-born dancer, who moved to New York City at the age of eight, said while welling up: “Who would have thought that a young girl from the Bronx would end up becoming the longest-serving female professional dancer on a British TV institution. “Strictly, will always be in my heart. I love you all.” Hauer first hit TV screens when she auditioned for the US reality show So You Think You Can Dance in 2009. She came to the UK in 2010, with the Latin stage show Burn the Floor, and made her first appearance on Strictly Come Dancing in 2012, where she met its former host Bruce Forsyth and the Strictly judge Len Goodman, whom she called “incredible legends”. She was first paired with the Westlife singer Nicky Byrne where they reached the quarter-finals. Two years later, she made it to the finals with The Only Way Is Essex star Mark Wright and, in 2019, she came second in the competition with Jamie Laing, who gained fame after appearing in Made in Chelsea. Hauer won a scholarship to the Martha Graham school of contemporary dance at nine years old, where she studied for 10 years. In an interview with the Guardian, she said da...

上海迪士尼度假区开启“10岁生日庆典”，通过全新演出、纪念商品和IP拓展等举措推动游客增长与消费拉动。 日前，上海迪士尼度假区正式开启以“加你更奇妙”为主题的“10岁生日庆典”。据悉，2025年上海迪士尼累计迎来第1亿人次游客，借由目前启动的十周年庆典活动，新的一年游客量有望持续保持增长。 庆典首日，三大全新及焕新的娱乐演出体验亮相，包括全新演出“奇妙之心”城堡秀于焕新升级的奇幻童话城堡舞台上迎来首秀。夜间演出“奇梦之光幻影秀”迎来庆典专属的终章——奇妙在身边：10岁生日特别欢庆。花车巡游方面也加入了10周年元素。 迪士尼的商业模式是创造内容，打造IP后依托虚拟人物和故事来开发衍生经济，比如各类周边商品、餐饮、主题乐园、演出和邮轮等。第一财经记者了解到，上海迪士尼乐园10周年之际，官方特意推出了特别款的餐饮和大量纪念商品，这些都会在一定程度上拉动购物消费。 在上海迪士尼乐园现场，第一财经记者看到，不少来自全国各地的游客特意来参加10周年庆典活动。“我们从沈阳来上海，就是为了参加迪士尼的10周年活动，也买了很多周边商品。这次除了来迪士尼，还打算到外滩等上海其他景点游玩一下，计划在上海住几个晚上。今天看了一些迪士尼庆典活动表演，非常不错。”来自沈阳的赵女士告诉第一财经记者。 和沈女士一样，来上海迪士尼参与10周年庆典活动，并在上海游玩多日的游客不在少数，他们从住宿、餐饮、旅游、购物和大交通等多方面拉动了上海消费。 同程旅行数据显示，上海凭借上海迪士尼度假区、上海乐高乐园度假区等主题乐园及丰富的亲子休闲资源，对中长途游客吸引力持续走高。今年清明假期为4月4日至6日，多地春假与清明衔接形成6天长假（4月1日至6日），进一步激活中长途出行需求。 上海迪士尼度假区总裁及总经理包兆天对第一财经记者表示，2026年是上海迪士尼开业10周年，除了已经成功推出的玲娜贝儿，未来将探索更多原创IP。“新项目方面，我们正在建设第三座和第四座主题酒店，‘翱翔·飞越地平线’未来将扩容，蜘蛛侠主题全新园区正在建设中。” 值得注意的是，在上海迪士尼10周年庆典活动启幕现场，第一财经记者还看到了不少外国游客。包兆天进一步透露，目前上海迪士尼乐园的入境游客增长很迅速，主要来自马来西亚、泰国、新加坡、韩国等，未来将加大和旅游公司合作，希望可以吸引更多入境游客。 就在近期，迪士尼方面还与F1合作，在上赛场和...

格隆汇3月21日｜乌克兰军方称，昨夜袭击了俄罗斯萨拉托夫州的一家炼油厂。

PM Images/DigitalVision via Getty Images The SPDR Nuveen Bloomberg High Yield Municipal Bond ETF (NYSEARCA: HYMB ) offers investors a tax-advantaged 4.5% dividend yield. HYMB is a solid investment opportunity, a buy, and a particularly interesting choice for investors in taxable accounts facing higher marginal tax rates. HYMB - Overview and Analysis Index and Portfolio HYMB is a high-yield municipal bond index ETF, tracking the Bloomberg Municipal Yield Index (go to 'About this Benchmark' for details). Said index includes relevant dollar-denominated, tax-exempt, muni bonds, subject to a basic set of inclusion criteria. Unlike most high-yield bond indexes, the fund includes sizable investments in quality, investment-grade securities with these accounting for at least 1/3rd of its portfolio. HYMB offers investors diversified exposure to muni bonds, with investments in almost 2,000 of these, and with exposure to dozens of states, several industries. HYMB HYMB HYMB provides diversified exposure to muni bonds . It does not provide diversified exposure to bonds as a whole, as it focuses on a specific bond sub-asset class. In general, I think that diversification is desirable, and prefer broader bond ETFs like the iShares Flexible Income Active ETF ( BINC ). In this particular case, I see the merits of focusing on tax-advantaged investments, and hence ETFs like HYMB, although the benefits here are strongly dependent on the specific circumstances of each individual investor. Risk and Volatility HYMB's underlying index directly sets portfolio weights by credit ratings. Specifically, index weights are as follows: 70% non-investment grade / unrated securities, so BB+ or lower 20% securities rated BBB 10% securities rated A Credit quality for the fund is as follows: HYMB HYMB's portfolio weights seem quite close to those of its index, assuming that the vast majority of its unrated bonds are non-investment grade, as is generally the case. HYMB does lean a bit more quality than i...

中国企业正在探索一条不同于以往的全球化之路。 3月中旬的亚布力，依然细雪纷飞。室内，企业家们围绕出海话题的讨论却十分炽热，现场座无虚席，晚来者只能倚墙而立。 东南亚和中东是近些年来中国企业出海的热门区域，不过随着中东局势的变化，海湾国家的“安全迷思”被打破。在第二十六届亚布力中国企业家论坛年会“出海经验谈：成功与教训”分论坛（以下简称“论坛”）上，很多企业家表示，较近的地理位置和与稳定的对华关系，使得东南亚依然是很多企业出海的首选。 上海国际问题研究院东南亚研究中心主任周士新向第一财经记者表示，长期以来，中国和东南亚国家的市场联系十分紧密，互利共赢。但也需要认识到，双方在许多方面都存在着差异，既存在互补性，也有存在同质性，导致相互间既存在合作，也存在竞争关系。 选合作伙伴 出海东南亚似乎是一个老生常谈的问题，但在亚布力中国企业家论坛上，企业家谈这一问题都是带着自己的经验和教训而来。 在讨论中，“合作伙伴”一词被反复提及，成为决定出海成败的核心变量之一。如今中国优质产品出海，已经和以前不同，已经不缺潜在的合作伙伴，而是如何挑选好合作伙伴的问题。 迈胜医疗集团董事长田源在论坛上表示，他所在的企业在细分领域已经是国内的龙头，“在东南亚市场上走了一圈后，很多人会来找你，有想做你的代理，也有想和你谈合作”，为此他把潜在的合作伙伴分为三类。 一类是在同行业内，在当地已小有名气的公司；第二类是宣称有高层资源的中间人，自称有很强的通关能力，但虚虚实实很难把握；第三类是当地的华人，语言相通，且能把当地的环境一口气讲清楚，但存在着当地根基不深的问题。 田源坦言，在选择合作伙伴时没有统一模式，但重要的考核标准是“能把当地的事情搞定”。他以企业最近签下的一单为例，原本未在计划之中，但机会出现后，当地合作伙伴展现出了强大的协调能力，即便国际竞争对手的总裁亲自出马，以更低价格争抢订单，但合作伙伴依然凭借出色的协调能力，最终拿下这一单，“这是一个很好的案例”。 而对于一些规模较小的科创企业，轻资产出海可能更合适。在论坛上，一位科创企业代表分享了其在马来西亚的实践。他们与当地大型企业合作，由对方出资购买生产设备，中方提供原材料、技术和品牌，双方成立合资公司，利润按比例分成。这位企业代表说：“如果当地发生问题，我可以立马撤回。对我来说，这是最安全的模式。” 日本的教训 在讨论中国企业出海路径时，论坛...

Following a long run of disappointment, emerging markets equities finally got their acts in gear last year, as the MSCI Emerging Markets index nearly doubled the S&P 500's performance. That momentum carried into 2026. The developing economies gauge is up 7.4% year to date, while the S&P 500 is off 1.64%. But there's a rub. Stock-picking in countries such as Brazil, China, India, and others is tricky because U.S. analysts and the mainstream financial press here are focused on domestic names. On the bright side, exchange-traded funds (ETFs) provide efficient -- and, in many cases, broad -- access to stocks in developing nations. However, these funds aren't cut from the same cloth. The Schwab Fundamental Emerging Markets Equity ETF (FNDE 2.91%) stands as a positive example of that sentiment. For market participants seeking some emerging markets stamps on their investing passports, this ETF is also worth considering today. A fabulous fundamental focus with this ETF As with domestic fare, the most popular emerging markets ETFs are capitalization-weighted index funds, meaning they weight components by market capitalization. This Schwab Emerging Markets ETF, which tracks the RAFI Fundamental High Liquidity Emerging Markets index, marches to the beat of a different, not cap-weighted, drummer. That index focuses on three core principles: cash flow, sales, and shareholder rewards (buybacks and dividends). By no means is that a complex or exotic methodology, but it has the potential to position investors for success. Over the past five years, this ETF thoroughly outpaced the average returns produced in the emerging markets ETF category. There's something else, too, for investors to consider with this emerging market fund. Obviously, it's passively managed because it tracks an index, but there is some activity in that benchmark. A quarter of the index's holdings are rebalanced every quarter in an effort to boost exposure to holdings with value traits, while paring allocations t...

Key Points The Schwab Fundamental Emerging Markets Equity ETF does things differently. That's okay, because this ETF has a knack for outperforming peers. With emerging markets stocks displaying momentum, this ETF warrants attention. 10 stocks we like better than Schwab Strategic Trust - Schwab Fundamental Emerging Markets Equity ETF › Following a long run of disappointment, emerging markets equities finally got their acts in gear last year, as the MSCI Emerging Markets index nearly doubled the S&P 500's performance. That momentum carried into 2026. The developing economies gauge is up 7.4% year to date, while the S&P 500 is off 1.64%. But there's a rub. Stock-picking in countries such as Brazil, China, India, and others is tricky because U.S. analysts and the mainstream financial press here are focused on domestic names. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » On the bright side, exchange-traded funds (ETFs) provide efficient -- and, in many cases, broad -- access to stocks in developing nations. However, these funds aren't cut from the same cloth. The Schwab Fundamental Emerging Markets Equity ETF (NYSEMKT: FNDE) stands as a positive example of that sentiment. For market participants seeking some emerging markets stamps on their investing passports, this ETF is also worth considering today. A fabulous fundamental focus with this ETF As with domestic fare, the most popular emerging markets ETFs are capitalization-weighted index funds, meaning they weight components by market capitalization. This Schwab Emerging Markets ETF, which tracks the RAFI Fundamental High Liquidity Emerging Markets index, marches to the beat of a different, not cap-weighted, drummer. That index focuses on three core principles: cash flow, sales, and shareholder rewards (buybacks and dividends). By no means is that a...

格隆汇3月21日｜据加拿大广播公司等媒体当地时间20日消息，加拿大不列颠哥伦比亚省省长尹大卫（David Eby）将于今年晚些时候率领贸易代表团访华。报道称，尹大卫表示，此次访问将重点聚焦深化农业和能源领域的贸易关系。报道还称，这将是不列颠哥伦比亚省省长自2018年以来首次访华。尹大卫并未透露具体访问时间及其他细节。报道援引不列颠哥伦比亚省政府数据称，2024年中国是该省产品的第二大出口市场，占比15.6%。

Rheinmetall AG expects a swift restart on construction of F126-class frigates for the German Navy with a plan to take over the project that’s currently running behind schedule, the head of the company’s Maritime Systems division told Welt am Sonntag. “We expect to be awarded the contract for the F126 frigate this summer as the general contractor,” Tim Wagner said in an interview. “We want to speed up production times and deliver the first of the six planned frigates in the second half of 2031,” Wagner was cited as saying. The original contractor — Dutch company Damen Naval in Vlissingen — in July reported delays in the delivery of the ships as a result of IT problems, casting a shadow over one of the biggest procurement projects by Germany’s armed forces. To fill the gap, the government plans to purchase four MEKO A-200 class frigates from Kiel-based shipbuilder TKMS AG , the defense ministry announced on March 18. Rheinmetall has expanded its naval division through the acquisition of NVL BV & Co. KG, the military part of the Lürssen Group, which closed this month.

Find winning stocks in any market cycle. Join 7 million investors using Simply Wall St's investing ideas for FREE. Why Meta’s Fifth Avenue lease is drawing fresh attention to Vornado Realty Trust (VNO) Meta’s decision to sign a 10 year lease for its New York flagship Meta Lab at Vornado Realty Trust’s 697 Fifth Avenue puts a high profile tenant at the center of Vornado’s Manhattan portfolio. See our latest analysis for Vornado Realty Trust. The Meta Lab and Le Colonial leases arrive during a softer patch for the stock, with Vornado’s 30 day share price return of 14.53% and year to date share price return of 24.04% declines. Its 3 year total shareholder return of 96.49% points to a much stronger longer term picture than the 32.10% total shareholder return decline over the past year. If you are comparing Vornado’s trajectory with other real asset stories, it can help to widen the lens and scan 27 power grid technology and infrastructure stocks With Vornado trading at US$25.41, alongside an indicated 45.30% intrinsic discount and a 37.74% gap to analyst targets, the key question is whether this weakness signals an opportunity or if the market already reflects future growth. Most Popular Narrative: 32.9% Undervalued Vornado’s most followed narrative pegs fair value at about $37.85 per share, which sits well above the recent $25.41 close and frames the current discount. The analysts have a consensus price target of $37.857 for Vornado Realty Trust based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of $46.0, and the most bearish reporting a price target of just $30.0. Read the complete narrative. Want to see what supports that valuation gap? The narrative leans on modest revenue expansion, very slim future margins, and a much higher earnings multiple than today. Curiosities abound. Result: Fair Value of $37.85 (UNDERVAL...

Project Hail Mary author Andy Weir sits down with Christina Ruffini to discuss his bestselling novel-turned-blockbuster starring Ryan Gosling and opening this weekend. Watch Bloomberg This Weekend LIVE every Saturday and Sunday morning: (Source: Bloomberg)

mbbirdy/E+ via Getty Images Wall Street closed the week sharply lower as tensions in the Middle East kept oil prices elevated around $100 per barrel. Meanwhile, the Federal Reserve held interest rates steady, in line with expectations. In addition, U.S. Treasury yields rose significantly this week due to renewed concerns about the near-term path of monetary policy after the Fed’s decision to keep rates steady. For the week, the S&P ( SP500 ) lost -1.9%, while the tech-heavy Nasdaq Composite ( COMP:IND ) dipped -2.1%, and the blue-chip Dow ( DJI ) fell -2.1%. Here’s what caught investor attention this week: Micron ( MU ) fell following the memory maker’s earnings report but has gained more than 321% over the past 12 months. MU reported much stronger-than-expected results and guidance. However, investors took profits after a historic run. Super Micro ( SMCI ) shares plunged after three individuals associated with the server maker, including a co-founder, were indicted by the US Attorney’s Office for allegedly conspiring to smuggle at least $2.5B worth of U.S. AI technology to China. Nebius ( NBIS ) shares jumped after the company announced a major AI infrastructure agreement with Meta ( META ) worth up to $27B over five years, including $12B in dedicated capacity and an option for Meta to buy up to $15B more. Alibaba Group ( BABA ) shares dipped after the Chinese e-commerce giant reported a significant Q4 miss on both revenue and profit, raising concerns over the effectiveness of its heavy AI investments. The firm reported a 67% drop in quarterly net income as total revenue rose only 1.7% to RMB 284.84B ($41.3B). Alibaba ( BABA ) has pledged more than $53B in AI investment over several years, outpacing domestic peers. Macy’s ( M ) reported stronger-than-expected earnings, driven in part by approximately 10% comparable sales growth at Bloomingdale’s, its higher-end department store banner. The brand has been outperforming due to stronger demand from more affluent consu...

In Georgia, a woman was charged with murder after allegedly taking pills to induce a termination. Yet America happily drops bombs on children abroad How many children has the US helped kill this week in the Middle East? It’s hard to keep track, but Unicef reports that more than 1,800 children in the region have been killed or injured since the US and Israel started a war with Iran on 28 February. In Lebanon, a US-backed Israel is killing or wounding a classroom’s worth of children every day, Unicef’s deputy executive director told Reuters . That’s just after killing more than 20,000 children in Gaza in two years, all with the help of US taxpayer dollars. The assault on freedom with Mehdi Hasan and Arwa Mahdawi On Monday 8 June, join Mehdi Hasan and Arwa Mahdawi to discuss the current seismic changes in geopolitics, the alarming rise of populism and nationalism, and its global implications. Live in London and livestreamed worldwide. Book tickets here or at guardian.live Continue reading...

The sweetness of a pea is more than just a desirable taste; it’s an indication of a pea picked at the perfect moment. As the sugars convert into starch, peas lose their sweetness rapidly after picking, leading to a less sweet, more fibrous and lower-quality product. The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. That’s why high-quality peas are picked, blanched and frozen as quickly as possible, usually all within two and a half hours. That said, other factors such as soil, seed quality, transportation and a stable freezer temperature all affect a frozen pea’s quality. All the peas scored well for taste, but their texture was rather more varied. To measure the sweetness of the peas, I used a Brix refractometer, a tool designed for measuring the sugar content of fruit and veg. I awarded an extra point to peas with a Brix rating of 10 or more. I also scored them on cost, country of origin and organic status. The best supermarket frozen peas Best overall: M&S British garden peas ★★★★☆ Bright green peas with a firm texture, a sweet, floral flavour and the grower (East Coast Viners) clearly labelled on the packet. Packed and frozen within 90 minutes, which contributes to their superb texture and 10.7 Brix sweetness. Best bargain: Asda garden peas ★★★★☆ A sweet, bright green British pea with a well-balanced, quintessentially pea-y flavour – alive, fruity and with a soft texture. Very small to medium in size and well frozen; at 10.8, among the highest Brix ratings in this test, too. And the rest … Sainsbury’s garden peas ★★★★☆ Small to medium-sized, sweet, ripe British peas. In good condition, plump and with only a few splits. Taut, fresh-looking skins once cooked, and al dente with a distinct, aromatic, fresh flavour and a strong 10.5 Brix score. Co-op British garden peas ★★★★☆ A perfect batch of small to medium-sized frozen peas, all ripe, plump and in great condition. A clean, firm bite, a ...

“China’s real interest is true, stable multipolarity,” Columbia University professor Jeffrey Sachs told a seminar in Beijing on Friday, urging India not to become a pawn in a US game to hold China back. “I believe that China should, after some discussion and negotiation, support India as the sixth permanent member of the Security Council,” Sachs told the gathering hosted by the Centre for China and Globalisation, a Beijing-based think tank. Advertisement He called for the two Asian giants to “settle the old British score and recognise that they achieve a great commonality of interests” to become two stabilisers of the whole world system. Sachs was referring to a disputed Himalayan border between the two countries, the legacy of century-old British colonial-era border agreements. The dispute has long been a source of hostility between Beijing and New Delhi, which erupted into bloodshed in the Galwan Valley six years ago Advertisement Sachs, an advocate for multilateralism and a staunch critic of US President Donald Trump’s policies, also said the United Nations should base a major operation in Beijing to transform it into a truly global body.

In this article 7201.T-JP HMC TM Follow your favorite stocks CREATE FREE ACCOUNT Nissan's logo is illuminated on a prototype of its new all-electric Ariya crossover. Nissan's Z Proto performance car is reflected in the vehicle's grille, while a redesigned Nissan Pathfinder SUV sits in the background. Michael Wayland / CNBC Nissan Motor plans to introduce a new type of hybrid to the U.S. market that drives like an all-electric vehicle but is powered — not driven — by a traditional gas-powered engine. The new Nissan "e-Power" is called a series hybrid. It uses the engine as a generator to power the vehicle's electric motors that then propel the vehicle. It operates like emerging extended-range electric vehicles, or EREVs, but has a smaller battery and doesn't require a plug. It's also different from a traditional hybrid, such as the Toyota Prius , because the gas engine in those vehicles is used to propel the vehicle. The series hybrid's engine just keeps the battery charged to power the electric motors in the vehicles. The e-Power hybrid system for Nissan is planned to launch domestically later this year in a new version of its popular Rogue compact SUV. Timing for such a vehicle could be ideal for Nissan with climbing gas prices , slower-than-planned adoption of EVs and an expected surge in hybrid sales amid new entries, according to officials. After losing billions of dollars on EVs, automakers such as Nissan are turning to hybrid vehicles to meet customer expectations for fuel economy and to help with driving performance. S&P Global Mobility expects hybrids in the U.S. this year to increase to 18.4% of new vehicle sales, up from 12.6% last year and 7.3% in 2023. It's forecasting pure EVs, meanwhile, will be 7.1% of new vehicle sales, down from 8% last year. "This is a unique powertrain for the for the U.S.," Kurt Rosolowsky, Nissan North America vehicle evaluation and test engineer, said during a media briefing. "This is an electrically driven vehicle, as far as w...

One of the leading conversational AI companies specializing in voice-enabled AI-driven business solutions, SoundHound AI (NASDAQ:SOUN), is trading at $6.96, down 30% year-to-date, even as the company just posted its strongest quarter ever and unveiled a new product at NVIDIA GTC 2026. That tension is exactly what retail investors are wrestling with right now. The ... SoundHound Grew Revenue 59% but Its Stock Is Down 30% This Year

Super Micro Computer’s (SMCI) stock is collapsing, with shares plunging 27% in Thursday morning trading after federal prosecutors charged co-founder Yih-Shyan “Wally” Liaw, Ruei-Tsang “Steven” Chang, and Ting-Wei “Willy” Sun with operating a $2.5 billion smuggling scheme involving banned AI GPUs and servers to China. The U.S. indictment alleges the group violated export controls by routing high-performance hardware (believed to be Nvidia (NVDA) GPUs) through Southeast Asian shell companies. This bombshell lands atop SMCI’s already checkered past, including a 2020 SEC settlement for widespread accounting violations involving premature revenue recognition and understated expenses. Rebuilding trust may prove nearly impossible. The big question, though, is whether this stunning implosion positions Dell Technologies (DELL) as the clearest winner in the exploding AI server market? The Alleged Smuggling Operation Prosecutors say SMCI's scheme ran from 2024 into 2025. Liaw, then senior vice president of business development and still a board member, along with Chang (SMCI’s Taiwan general manager) and contractor Sun, allegedly instructed a Southeast Asian company to place massive orders for SMCI servers. Those units which contained restricted chips were repackaged, relabeled with dummy machines, and diverted to China. Tactics reportedly included hair dryers to erase serial numbers and staged inspections to fool authorities. At least $510 million worth of servers reached Chinese destinations, part of a broader $2.5 billion effort. SMCI itself is not charged, but it placed the individuals on leave and cut ties with the contractor. The scandal revives memories of SMCI’s prior accounting troubles, amplifying doubts about governance and long-term viability. Dell’s Competitive Ascendancy in AI Servers While the smuggling allegations grab the headlines, the subtext points to billions in potential business shifting toward Dell. Once a niche player overshadowed by SMCI’s hypergrowth...

baileystock To get past the artificial intelligence-induced bottleneck at the major semiconductor foundries, Tesla ( TSLA ) is building its own semiconductor facility, with the work set to commence this weekend, according to CEO Elon Musk. Musk is known for working on projects that many believed were next to or outright impossible—reusable rockets, the Optimus robot, and, perhaps most infamously, leading a program to cut U.S. federal government spending. However, given the cost, scale, and complexity of building a semiconductor fab, this could be Musk's most “Herculean task” ever, Morgan Stanley said. Costs “Advanced logic process technology nodes are built upon a foundation of prior nodes, with the steady cadence of Moore’s law driven by those incremental gains,” analysts at the firm wrote in a note to clients. “The further objective of building logic, memory, and packaging from a standing start is even more challenging—and $20 billion plus over multiple years is probably inadequate scale to cover the development costs.” The investment firm has an Equal-Weight rating and a $415 price target on Tesla. For context, Micron Technology ( MU ) announced a new fab in September 2022 in Boise, Idaho. The plant is expected to start shipping chips in the middle of next year, “underscoring the long lead times inherent in leading-edge semiconductor manufacturing,” Morgan Stanley analysts added. In January, Musk suggested Tesla's existing chip suppliers, Samsung Electronics ( SSNLF ), Micron, and Taiwan Semiconductor Manufacturing ( TSM ) cannot supply the EV maker at the levels it needs. It's possible that Tesla may have to raise outside capital to complete the project, given that it had $16.5B in cash on its balance sheet at the end of its most recent fiscal year (it also has an additional $27.5B in short-term investments). Tesla has said that its capex spending plans for 2026 are around $20B, including the expansion of its Optimus robots. Given that the cost of a semiconducto...

Experts say the case highlights how the industry appears to not have taken the issue of chip smuggling seriously.

phakphum patjangkata/iStock via Getty Images 90% tax rates probably aren't coming back Many in the "Roth only" camp frequently hearken back to an earlier time to observe where tax rates have come down from. Pulling a page out of Ed Slott's excellent book The Retirement Savings Tax Bomb Ticks Louder , we can see on page 28 a tidy historical record of the top marginal rates: Ed Slott Now the top marginal rate is always the one highlighted to instill fear in the public. The truth is very few enter into these brackets, especially when planning efficiently with various tax timing strategies regardless of your account mix. However, interesting patterns emerge. The rolling 20s that led to the Great Depression had a very friendly tax environment with a top marginal rate of 25% from 1925 to 1931. This top marginal rate strategy of 25% was led by then Treasury Secretary Andrew Mellon. This was the first time supply-side trickle down-type economics came into the picture. The belief was that less taxes leads to more spending, which ultimately leads to more tax revenue. The wealthy keep more, create more jobs, and it gives the power to private capitalist society to guide the direction of the economy. It's apparent in hindsight that the lower top marginal rates also led to the top echelon of society not pouring everything into industrial capacity, but much of it went into stocks. Back to the 90% era effective tax rates While a top marginal rate over 90% is scary, is it all just fear mongering? Or were the lower brackets draconian as well? Let's take a look : taxpolicycenter.org It turns out the 90+% era wasn't just scary; it was terrifying. Here we can see the lowest rate in 1945 was 23%! In 2026, you don't hit the 22% bracket if married filing jointly until $100,800. irs.gov The lowest rates at 10% after a very generous $32,200 standard deduction for 2026 are some of the best deals of all time. This is why tax experts and CPAs like Ed Slott believe that going heavy into Roth acc...