Donny DBM/iStock via Getty Images Key Takeaways Markets: International equities delivered solid gains in the fourth quarter to cap one of the best years for overseas stocks in decades. The core benchmark MSCI EAFE Index rose 4.9% in the quarter to finish up 31.2% for 2025, outperforming the S&P 500 Index's gains of 2.7% for the quarter and 17.9% for the year. The market rally was broad with the MS...
Donny DBM/iStock via Getty Images Key Takeaways Markets: International equities delivered solid gains in the fourth quarter to cap one of the best years for overseas stocks in decades. The core benchmark MSCI EAFE Index rose 4.9% in the quarter to finish up 31.2% for 2025, outperforming the S&P 500 Index's gains of 2.7% for the quarter and 17.9% for the year. The market rally was broad with the MSCI Emerging Markets Index advancing 4.7% for the quarter and 33.6% for the year. Contributors: Holdings in Siemens Energy ( SMNEY ), NatWest Group ( NWG ), AstraZeneca ( AZN ), Tokyo Electron ( TOELY ) and Celestica ( CLS ). Detractors: Holdings in Sea Limited ( SE ), Sony, Tencent ( TCEHY ) and Zai Lab ( ZLAB ) and. Stock selection in the health care and consumer discretionary sectors. Outlook: Historically, periods of declining interest rates have been associated with a more favorable backdrop for growth stocks, but we think that to reassert market leadership — specifically in technology software and hardware — it will probably come down to improved earnings. Performance Review Outside the U.S., growth stocks delivered strong absolute returns but meaningfully underperformed value stocks. The MSCI EAFE Growth Index rose 1.9% for the quarter, trailing the MSCI EAFE Value Index by 590 basis points. In such a value-dominated period, the Fund underperformed its primary MSCI EAFE benchmark. As a growth manager, we are selective in owning the companies typically thought of as value in our structural growth segment. We have increased this exposure, predominantly by increasing allocations to banks, where we are seeing a step change in earnings. U.K.-based NatWest Group was a leading contributor during the quarter, and we think banks can continue to work as we believe that interest rates will be stable and loan growth will likely increase along with higher fiscal stimulus and to fund AI and energy transitions. The Fund saw strength in holdings supporting the buildout of AI workload...
Pfizer Inc. said its experimental Lyme disease vaccine was 73% effective against the tick-borne illness, though fewer-than-expected cases in a study made it hard to determine how well it works on a large scale. While the vaccine reduced cases of Lyme, it did not clearly meet the clinical trial’s efficacy criteria. That doesn’t mean the shot failed to work. Pfizer gave it to people in the US, Canad...
Pfizer Inc. said its experimental Lyme disease vaccine was 73% effective against the tick-borne illness, though fewer-than-expected cases in a study made it hard to determine how well it works on a large scale. While the vaccine reduced cases of Lyme, it did not clearly meet the clinical trial’s efficacy criteria. That doesn’t mean the shot failed to work. Pfizer gave it to people in the US, Canada and Europe who were at high risk of exposure, but fewer than expected got infected, confounding the results. Pfizer said it’s confident in the vaccine’s potential and plans to submit it to regulatory authorities. The stock dropped 1% in trading before US exchanges opened, paring an earlier decline. Partner Valneva SE plunged as much as 13% in Paris, the most in two months. Pfizer has been struggling to find its footing after the Covid pandemic, forcing Chief Executive Officer Albert Bourla to clinch expensive deals in cancer and obesity. But vaccines have long been a mainstay for the drugmaker, which sells shots for pneumonia and RSV. Bourla has pointed to the Lyme vaccine trial as one of the most important studies for Pfizer this year. An analysis of the full data is still ongoing, a spokesperson for Pfizer said, and the results will be submitted to a scientific meeting and a peer-reviewed journal. There’s currently no human vaccine for Lyme disease on the market. GSK Plc sold one in the late 1990s, but it was pulled in 2002 because of low demand. At the time, there were only about 16,000 cases of Lyme reported each year and they were mostly concentrated in the US Northeast. Read More: The Last Lyme Shot Failed. Will a New One From Pfizer Succeed? In the more than two decades since, cases of Lyme have surged. The US Centers for Disease Control and Prevention estimates that about 476,000 people are diagnosed and treated for Lyme each year. US Health Secretary Robert F. Kennedy Jr. has made Lyme disease a priority for his agency. Rates are also increasing in Europe. Lyme d...
The debate between Bitcoin (BTC 0.01%) and gold has intensified in recent months and years. The dominant cryptocurrency, despite posting a jaw-dropping 17,210% trailing-10-year return (as of March 19), has lagged the precious metal on a shorter time frame. The price of an ounce of gold has skyrocketed 111% in the past 24 months. Which of these unique assets will make you richer in the long run? Go...
The debate between Bitcoin (BTC 0.01%) and gold has intensified in recent months and years. The dominant cryptocurrency, despite posting a jaw-dropping 17,210% trailing-10-year return (as of March 19), has lagged the precious metal on a shorter time frame. The price of an ounce of gold has skyrocketed 111% in the past 24 months. Which of these unique assets will make you richer in the long run? Gold is seeing strong demand from central banks, like those in Poland, India, and Turkey, as buying has picked up over the past couple of years. These large pools of capital might be trying to lessen their dependence on U.S. Treasuries, for instance. Since gold has been viewed as a leading store of value for thousands of years, it has tremendous mental buy-in. Expand CRYPTO : BTC Bitcoin Today's Change ( -0.01 %) $ -7.29 Current Price $ 68630.00 Key Data Points Market Cap $1.4T Day's Range $ 67564.00 - $ 68885.00 52wk Range $ 60255.56 - $ 126079.89 Volume 8.7B But the same concerns that market participants might have, like burgeoning amounts of government debt, ongoing geopolitical uncertainty, and potential weakening of U.S. dominance, play to Bitcoin's benefit. This is a digital asset that isn't controlled by a single entity. It's extremely scarce, with a hard supply cap of 21 million units. It's decentralized. And it lays the foundation for innovation to occur, as in payments or capital markets. Bitcoin is much earlier in its adoption. Consequently, it has significantly more upside than gold and is likely to perform much better over the next decade and beyond.
Lithium Argentina press release ( LAR ): Q4 GAAP EPS of -$0.47 misses by $0.50 . Lithium Production: Approximately 9,700 tonnes of lithium carbonate were produced in the fourth quarter of 2025 and 34,100 1 for the year ended December 31, 2025. 2025 production achieved the high end of the guidance 2 range with a 34% increase over 2024. Revenue for the fourth quarter of 2025 totaled $92 million, wit...
Lithium Argentina press release ( LAR ): Q4 GAAP EPS of -$0.47 misses by $0.50 . Lithium Production: Approximately 9,700 tonnes of lithium carbonate were produced in the fourth quarter of 2025 and 34,100 1 for the year ended December 31, 2025. 2025 production achieved the high end of the guidance 2 range with a 34% increase over 2024. Revenue for the fourth quarter of 2025 totaled $92 million, with an average realized price 4 of approximately $9,049 per tonne of lithium carbonate sold. The average realized price for first quarter of 2026 is expected to be approximately $17,000 per tonne of lithium carbonate sold, reflecting a significant increase in market prices since the end of 2025. Adjusted EBITDA 4 : For the fourth quarter of 2025 was $30 million and $56 million for the year ended December 31, 2025. 2026 Guidance: 2026 production guidance set at 35,000 - 40,000 tonnes of lithium carbonate. Production volumes are expected to increase in 2026 with continued improvements and optimization efforts ongoing to support long-term operational performance. More on Lithium Argentina AG Lithium Argentina: Focus On Next Phase Lithium Argentina: Solidifying Foundations, But The Market Has Already Priced It In (Rating Downgrade) Historical earnings data for Lithium Argentina AG Financial information for Lithium Argentina AG
Key Points Mark Zuckerberg is creating a personal AI executive assistant to streamline information access and minimize reliance on middle management The AI system is currently operational in its early stages and aims to flatten organizational hierarchies Meta is deploying enterprise AI solutions across its approximately 78,000 employees, featuring MyClaw and Second Brain (powered by Anthropic’s Cl...
Key Points Mark Zuckerberg is creating a personal AI executive assistant to streamline information access and minimize reliance on middle management The AI system is currently operational in its early stages and aims to flatten organizational hierarchies Meta is deploying enterprise AI solutions across its approximately 78,000 employees, featuring MyClaw and Second Brain (powered by Anthropic’s Claude) META shares started trading at $593.66, declining roughly 2.1%, notwithstanding impressive Q4 results (EPS $8.88 versus $8.16 forecast, revenue increased 23.8% YoY) Executive stock sales persist, with COO Javier Oliván and Director Robert Kimmitt both offloading shares on March 16th at approximately $632 Mark Zuckerberg is constructing an artificial intelligence assistant designed to support his leadership at Meta — and this isn’t speculative fiction. The Wall Street Journal disclosed this past Sunday that Meta’s chief executive is actively utilizing a preliminary version of this system to access company information more efficiently, eliminating the requirement for multiple staff layers to fulfill such requests. WSJ reports Mark Zuckerberg is building a personal AI agent to help him do his job at $META, starting with faster access to information that would normally move through layers of people. pic.twitter.com/JiJFkDXmdx — Wall St Engine (@wallstengine) March 22, 2026 This AI assistant represents a component of Meta’s comprehensive initiative to integrate agentic artificial intelligence throughout its entire organizational structure. Far from being an isolated trial, this development embodies a company-wide transformation that Zuckerberg has been signaling for more than twelve months. Meta Platforms, Inc., META During Meta’s January quarterly earnings conference call, Zuckerberg identified 2026 as the pivotal year when artificial intelligence would begin substantially transforming the company’s internal operations. This executive AI assistant directly implements that...
It’s getting close to zero hour for Donald Trump’s ultimatum to Tehran to reopen the Strait of Hormuz. Will the US president follow through with his threat to destroy Iran’s power plants, triggering ever widening tit-for-tat reprisals? It’s impossible to know, but investors are bracing for the war — and its globe-wide consequences — to worsen. Stocks sank on Monday, with MSCI’s Asia Pacific gauge ...
It’s getting close to zero hour for Donald Trump’s ultimatum to Tehran to reopen the Strait of Hormuz. Will the US president follow through with his threat to destroy Iran’s power plants, triggering ever widening tit-for-tat reprisals? It’s impossible to know, but investors are bracing for the war — and its globe-wide consequences — to worsen. Stocks sank on Monday, with MSCI’s Asia Pacific gauge falling 3.7% to almost erase its gain for the year. South Korea’s benchmark tumbled 6.5%. Hong Kong’s Hang Seng Index dropped 3.5%. S&P 500 futures are down 0.9%. A gauge of European equities slumped toward the lowest since September. Shelter is hard to find outside of the US dollar. Government bonds fell as traders stepped up bets that surging energy costs will force central banks to increase borrowing costs. More than $2.5 trillion has been wiped from the value of global bonds this month. Asian currencies extended their dizzying descent. The South Korean won weakened to the lowest level since 2009, while the Indian rupee and Philippine peso dropped to a record low. Australia’s dollar tumbled 1.3%. Gold slid as much as 9% to about $4,100 an ounce, taking its decline from the January peak to 27%. Bitcoin traded below $68,000. The cryptocurrency has lost roughly 20% since the Middle East conflict began at the end of February. Brent was at $113 a barrel. “It is pandemonium,” said Ed Al-Hussainy, a portfolio manager at Columbia Threadneedle Investments in New York. There is a growing sense that the forces unleashed by the war — runaway energy prices, fuel shortages, rising inflation — will be hard to put back into the bottle, regardless of what comes next. If Trump does go ahead with his threat to demolish the power stations in a country of 92 million, Tehran has vowed to retaliate by shutting the waterway indefinitely, as well as targeting US and Israeli-linked infrastructure across the region, including power and desalination plants. Trump gave the Islamic Republic 48 hours ...
Richard Drury U.S. stock futures retreated Sunday night as volatile risk-off sentiment took hold, with investors reacting to a fresh exchange of threats between President Trump and Iranian officials. Now, here are 5 news stories that broke overnight to watch out for: Fed rate expectations shift: Short-term yields are breaking away as the surge in oil prices unsettles the front end of the curve. Fe...
Richard Drury U.S. stock futures retreated Sunday night as volatile risk-off sentiment took hold, with investors reacting to a fresh exchange of threats between President Trump and Iranian officials. Now, here are 5 news stories that broke overnight to watch out for: Fed rate expectations shift: Short-term yields are breaking away as the surge in oil prices unsettles the front end of the curve. Fed funds futures now indicate a 50% chance that benchmark rates are higher by at least a quarter point after the September FOMC meeting, while the odds stand at 60% for October. Air Canada Express incident: An Air Canada Express ( ACDVF ) regional jet carrying about 76 people struck a fire truck while landing at New York’s LaGuardia Airport late Sunday, forcing authorities to shut the airport. NBC News reported four people were injured in the incident, saying the fire truck was manned by police officers. Gold and silver prices retreat: Gold ( XAUUSD:CUR ) ( GLD ) continues to weaken sharply, defying its traditional safe-haven role amid escalating tensions in the Middle East. The yellow metal has fallen nearly 20% over the past month, trading around $4,238 at press time. Silver ( XAGUSD:CUR ) also fell more than 10% at one point, with the technical structure deteriorating significantly and momentum reaching extreme levels. UK government bonds tumble : UK gilts are heading for their worst month since the 2022 crisis under former Prime Minister Liz Truss, as a surge in oil prices tied to Middle East tensions rattles markets and upends interest rate expectations. The sharp rise in energy prices has reignited inflation fears, pushing investors to dump gilts and driving yields to multi-year highs. Investor sentiment weighed by conflict : Escalating tensions over the U.S.-Iran conflict drove crude oil prices sharply higher last week and rekindled fears of a stagflationary environment. Consumer discretionary, financials, and industrials bore the brunt of selling pressure, reflecting...
e-crow/iStock via Getty Images Listen below or on the go via Apple Podcasts and Spotify Gold surrenders 2026 gains as war-driven inflation sparks rate hike fears; silver plunges 11%. (00:14) Musk plans Austin chip factory for AI push. (01:07) Berkshire Hathaway ( BRK.A ) ( BRK.B ) to buy stake in Tokio Marine in $1.8B deal. (01:58) This is an abridged transcript. Gold’s status as a sanctuary asset...
e-crow/iStock via Getty Images Listen below or on the go via Apple Podcasts and Spotify Gold surrenders 2026 gains as war-driven inflation sparks rate hike fears; silver plunges 11%. (00:14) Musk plans Austin chip factory for AI push. (01:07) Berkshire Hathaway ( BRK.A ) ( BRK.B ) to buy stake in Tokio Marine in $1.8B deal. (01:58) This is an abridged transcript. Gold’s status as a sanctuary asset continues to crumble. As of the time of this recording, spot gold ( XAUUSD:CUR ) is trading around $4,250. Silver ( XAGUSD:CUR ) Platinum ( XPTUSD:CUR ) and palladium ( XPDUSD:CUR ) are all down at least 4%. Gold ( XAUUSD:CUR ) was expected to rally amid war and inflation fears , but instead it has dropped sharply, falling about 14% since the start of the Iran conflict. According to The Wall Street Journal's "Streetwise" column, the decline has surprised investors who typically view the metal as a safe haven in times of geopolitical stress. Despite the escalating war in the Middle East, investors are fleeing bullion as skyrocketing oil prices stoke inflation fears and cement expectations for aggressive interest rate hikes. Gold ended last year at $4,319.37 an ounce and spiked to an all-time high above $5,595 an ounce in late January. According to market participants, rather than buying the dip, traders are pricing in a "higher-for-longer" rate environment to combat energy-led inflation. Elon Musk has unveiled plans for a new semiconductor venture. It’s called “Terafab.” It’ll be built in Austin and operated jointly by Tesla ( TSLA ) and SpaceX ( SPACE ). The project would begin with a smaller advanced fabrication facility capable of designing and testing a wide range of chips, with ambitions to scale into a much larger operation. The proposed fab would produce two main types of chips: lower-power processors for vehicles, robotaxis and humanoid robots, and higher-performance chips designed for space-based computing. The Austin location would sit near Tesla’s existing operat...
When it comes to AI chipmaking, Nvidia (NVDA 3.17%) is the first company most investors think of -- and for good reason. Nvidia commands a 95% share of the data center GPU market, generates hundreds of billions in annual revenue, and has exceptional profit margins. To be clear, I'm not here to say anything negative about Nvidia as an investment. Even though it has a $4.5 trillion market cap, the c...
When it comes to AI chipmaking, Nvidia (NVDA 3.17%) is the first company most investors think of -- and for good reason. Nvidia commands a 95% share of the data center GPU market, generates hundreds of billions in annual revenue, and has exceptional profit margins. To be clear, I'm not here to say anything negative about Nvidia as an investment. Even though it has a $4.5 trillion market cap, the chipmaker could still grow much larger, especially if it hits CEO Jensen Huang's ambitious $1 trillion in AI chip revenue by 2027. However, I think AMD (AMD 1.94%) has an extremely bright future and could be worth far more than its current market cap of $320 billion in the years ahead. In fact, I'm going to make a bold prediction that Nvidia could reach a $2 trillion valuation by 2033 -- just seven years from now. Here's why. The trillion-dollar case for AMD AMD just posted a fantastic 2025, including 34% revenue growth and an all-time high for EPS. Data center revenue soared 39% year over year in the fourth quarter, and the business is highly profitable with several growth engines. Here's the math. In late 2025, AMD unveiled several growth targets, including a goal of $100 billion in annual data center revenue. CEO Lisa Su said the market for data center chips could reach $1 trillion by 2030, a figure that is more conservative than Nvidia's market growth estimates. AMD projects 60% annual growth in its data center business for at least the next three to five years, with its overall business growing at a 35% rate-on par with its 2025 growth. If AMD can achieve a 35% growth rate in revenue for seven years, it would result in about $283 billion in full-year revenue for 2033. That may sound like a huge number -- and it is -- but keep in mind that this is roughly what Nvidia has now based on its latest quarterly revenue guidance. The company currently trades at about 10 times trailing 12-month sales, and if this multiple were to compress to eight times earnings, AMD stock would ...
Key Points Eli Lilly is likely to remain the leader in the rapidly expanding weight management market for some time. The company's lineup and pipeline look diversified beyond its core therapeutic areas. Lilly's valuation seems reasonable given its growth prospects. 10 stocks we like better than Eli Lilly › Eli Lilly (NYSE: LLY) has been a terrific investment in recent years. Thanks to significant ...
Key Points Eli Lilly is likely to remain the leader in the rapidly expanding weight management market for some time. The company's lineup and pipeline look diversified beyond its core therapeutic areas. Lilly's valuation seems reasonable given its growth prospects. 10 stocks we like better than Eli Lilly › Eli Lilly (NYSE: LLY) has been a terrific investment in recent years. Thanks to significant clinical progress and outstanding financial results, the company has become the largest healthcare player in the world: Eli Lilly's market cap was about $684 billion as of close of trading Aug. 1. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » That's some distance away from the $1 trillion mark. However, the drugmaker could become a $2 trillion stock within seven years. Here's why Eli Lilly could pull it off. The leader in weight management The market for weight management medicines has become one of the fastest-growing in the industry, and there's more to come. According to some projections, it could reach $150 billion in sales by 2035, up from $15 billion last year. Eli Lilly is already imposing itself in this niche. The company's weight loss therapy, Zepbound, is one of the best in the business. It proved more effective in a head-to-head clinical trial with its only noteworthy competitor, Novo Nordisk's Wegovy. And Zepbound's sales are growing incredibly rapidly, helping Eli Lilly deliver incredible top-line growth for a pharmaceutical company of its size. But there's more. Lilly is looking to dominate nearly every corner of the weight management drug market by addressing the shortcomings of its current crown jewel. Here's one such drawback: Although Zepbound is highly effective, it's administered subcutaneously once a week. Some patients might prefer an oral option rather than an injection. Enter orforglipron, an oral GLP-1 medicine Eli Lilly is developing. The drug recently hit it o...
KANZHUN ( BZ ) buys back 733,918 shares for ~¥34.5M (~$5M) on March 20 under its $400M share repurchase plan, with at least 50% of non-GAAP net income used for dividends and buybacks for the next three years. YTD, the Company had spent ~¥380M (~$55M) on share buybacks, showing its focus on shareholder returns. They may also adjust buybacks and dividends based on performance, capital needs, and mar...
KANZHUN ( BZ ) buys back 733,918 shares for ~¥34.5M (~$5M) on March 20 under its $400M share repurchase plan, with at least 50% of non-GAAP net income used for dividends and buybacks for the next three years. YTD, the Company had spent ~¥380M (~$55M) on share buybacks, showing its focus on shareholder returns. They may also adjust buybacks and dividends based on performance, capital needs, and market conditions. KANZHUN ( BZ ) shares traded higher to $13.88 in pre-market hours. More on Kanzhun Kanzhun Limited 2025 Q4 - Results - Earnings Call Presentation Kanzhun: A 'Buy' On Profitability Surprise And Attractive Yield Kanzhun Limited (BZ) Q4 2025 Earnings Call Transcript Kanzhun Non-GAAP EPADS of $0.27 misses by $0.01, revenue of $297.2M misses by $2.19M Kanzhun is the top performing human resource and employment services stock YTD