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This article first appeared on GuruFocus. Amazon (AMZN, Financials) may slash USPS shipment volumes by at least two-thirds by September, when the present contract ends, according to a source.This follows nearly a year of discussions between Amazon and USPS over new contract conditions. Amazon claimed USPS withdrew from talks, while Postal Service officials indicated conversations are ongoing and d...
This article first appeared on GuruFocus. Amazon (AMZN, Financials) may slash USPS shipment volumes by at least two-thirds by September, when the present contract ends, according to a source.This follows nearly a year of discussions between Amazon and USPS over new contract conditions. Amazon claimed USPS withdrew from talks, while Postal Service officials indicated conversations are ongoing and denied to discuss reductions.Amazon has started reducing its reliance on USPS, which has handled most of its last-mile deliveries. Last year, the business announced a $4 billion expansion of its U.S. rural distribution operations.USPS is auctioning delivery network access to raise funds as it faces financial strain and a probable cash shortage within a year. Amazon claimed the auction's uncertainty affected its plans.As Amazon builds internal capabilities, U.S. package transportation dynamics change. Negotiations and USPS volume reductions later this year will be the next driver.
JaysonPhotography/iStock via Getty Images Health Catalyst ( HCAT ) shares fell for the fifth consecutive session on Wednesday as Wells Fargo downgraded the data platform company to Equal Weight from Overweight days after its Q4 2025 earnings disappointed investors. Shares of the Utah-based firm fell 26% on Friday after the company, with its first quarterly release under the leadership of new CEO B...
JaysonPhotography/iStock via Getty Images Health Catalyst ( HCAT ) shares fell for the fifth consecutive session on Wednesday as Wells Fargo downgraded the data platform company to Equal Weight from Overweight days after its Q4 2025 earnings disappointed investors. Shares of the Utah-based firm fell 26% on Friday after the company, with its first quarterly release under the leadership of new CEO Benjamin Albert, indicated a revenue decline and earnings miss for Q4 2025. While HCAT “faces near-term challenges related to reduced dollar retention with existing clients downsizing their consumption footprint on the new platform,” the competitive pressures against the company are also building, Wells Fargo analyst Stan Berenshteyn wrote. He notes that the company’s revenue and margin pressures are likely to continue into 2027 and moves to a neutral rating until there is an “improving track record or credible strategy changes” under the new leadership. More on Health Catalyst Health Catalyst, Inc. (HCAT) Q4 2025 Earnings Call Transcript Health Catalyst plummets after mixed Q4; CEO declines to rule out potential sale as part of review Health Catalyst refrains from 2026 annual guidance as new CEO launches operational overhaul and strategic review Seeking Alpha’s Quant Rating on Health Catalyst Historical earnings data for Health Catalyst
The judge overseeing the pretrial phase of the two landmark litigation cases about brain injuries in rugby has issued another rebuke to the legal teams on both sides over their lack of progress. Senior Master Jeremy Cook started the latest round of case management hearings by reminding both the defendants and the claimants that “it won’t have escaped anybody’s notice that some of these claims are ...
The judge overseeing the pretrial phase of the two landmark litigation cases about brain injuries in rugby has issued another rebuke to the legal teams on both sides over their lack of progress. Senior Master Jeremy Cook started the latest round of case management hearings by reminding both the defendants and the claimants that “it won’t have escaped anybody’s notice that some of these claims are now over five years old, and we haven’t made much progress”. Since the cases involve claims of degenerative brain diseases, Cook said, time is at a premium. Cook has told both sides to provide him with written updates between now and a scheduled case management hearing in October, when both sides will be required to have identified their lists of 28 lead claimants from among the hundreds involved. The idea is these 28 will then be whittled down into a smaller group, who will represent the entire cohort. Cook said that the case was unique and as such requires “utmost cooperation between the parties” instead of the “usual sort of kickabout” between them. Despite that, Matthew Phillips KC, representing the claimants, warned that the case is “probably headed for an almighty battle in August” over the ongoing issue of whether or not the claimants have complied with their disclosure obligations. Many of the claimants in the rugby league case in particular have been living with the grim possibility that after all this time their claims may yet be struck off if their legal team cannot satisfy the court that they have complied with the judge’s onerous order to disclose all available medical records to the defence, a process which, Phillips says, “will take at least two years and millions of pounds”. Cook insisted that he did not want the hearings to get “sidetracked” by this issue, which has dominated the past year of the proceedings, but it increasingly feels as if the defendants in both league and union believe it is crucial to the case. The claimants’ legal team say they are on t...
utah778/iStock via Getty Images Investment objective The fund ( OPTAX ) seeks tax-free income. The strategy typically seeks investment-grade bonds, the income of which is exempt from federal personal income taxes and the federal alternative minimum tax. Fund facts Fund AUM ($M) 1,925.61 Portfolio Managers Elizabeth Mossow, Joshua Cooney, Julius Williams, Mark Paris, Timothy O'Reilly Manager perspe...
utah778/iStock via Getty Images Investment objective The fund ( OPTAX ) seeks tax-free income. The strategy typically seeks investment-grade bonds, the income of which is exempt from federal personal income taxes and the federal alternative minimum tax. Fund facts Fund AUM ($M) 1,925.61 Portfolio Managers Elizabeth Mossow, Joshua Cooney, Julius Williams, Mark Paris, Timothy O'Reilly Manager perspective and outlook In the fourth quarter, investment grade, high yield and taxable municipals delivered positive returns of 1.42%, 1.11% and 1.05%, with annual returns of 4.25%, 2.46% and 7.89%, respectively.1 Despite a lengthy federal government shutdown, long-duration municipal bonds performed well during the quarter, bolstering market strength. 1 New municipal issuance reached $143 billion for the quarter and a record $584 billion for the year, surpassing last year’s record $509 billion. Shifting interest rate policies, higher costs and political uncertainty likely encouraged more issuers to come to market. 1 Net flows for municipal mutual funds and exchange-traded funds (ETFs) were strong, totaling approximately $17.5 billion for the quarter and $52.4 billion for the year. 2 The US Federal Reserve (Fed) cut the federal funds rate twice, by 0.25% in October and 0.25% in December. The Fed reiterated its commitment to balancing maximum employment and a 2% inflation target. 3 We believe state and local municipal budgets remain healthy. While credit rating upgrades have moderated, upgrades outpaced downgrades in 2025, demonstrating to us strong fundamentals. 4 Our experienced credit research team continues to seek out market dislocations, uncovering opportunities to add value for shareholders. Looking ahead, we see attractive opportunities in municipals. With prospects for more Fed interest rate cuts, steady issuance and ongoing demand for tax-exempt income, we believe high absolute yields and solid fundamentals make municipals a compelling choice. Top holdings (% of total ma...
primeimages Janus Henderson ( JHG ) risks losing a large number of its portfolio management team and clients if it decides to go with Victory Capital's ( VCTR ) purchase over its already announced deal with Trian Capital Management. A “meaningful” number of portfolio managers across equities, fixed income, and multi-asset alternatives have indicated they would quit if Janus ( JHG ) merged with Vic...
primeimages Janus Henderson ( JHG ) risks losing a large number of its portfolio management team and clients if it decides to go with Victory Capital's ( VCTR ) purchase over its already announced deal with Trian Capital Management. A “meaningful” number of portfolio managers across equities, fixed income, and multi-asset alternatives have indicated they would quit if Janus ( JHG ) merged with Victory ( VCTR ), according to a Citywire report on Wednesday, which cited people familiar with the matter. Janus Henderson ( JHG ) is also getting calls from “dozens” of clients who have issues with a potential Victory Capital ( VCTR ) deal, according to Citywire. The Citywire story comes after Victory on Tuesday submitted a revised proposal to acquire Janus ( JHG ) for a total consideration of $56.84 per share. Victory Capital ( VCTR ) has made a few attempts at a hostile takeover of Janus ( JHG ) in recent months, with Janus's special committee most concerned about value and certainty of close, which requires 75% client approval. "The Special Committee’s client consent concerns are misplaced," Victory Capital said its revised offer on Tuesday. "Victory Capital has achieved an overwhelming 95%+ client consent for its most recent transactions and believes there is no credible basis for claiming that its proposal raises any real client‑related concerns." More on Janus Henderson, Victory Capital Bidding War For Janus Henderson Points To More Upside (Upgrade) Victory Capital Holdings, Inc. (VCTR) Presents at Bank of America Financial Services Conference 2026 Transcript Victory Capital Holdings, Inc. (VCTR) Presents at UBS Financial Services Conference 2026 Transcript Victory Capital submits revised proposal to acquire Janus Henderson Victory Capital assets under management edge higher to $324B in February
Key Points Oil prices would need to rise higher and remain there for months. The Federal Reserve would have to pivot to a hawkish stance. The economy would need to already be weak. 10 stocks we like better than S&P 500 Index › The U.S. stock market is down less than 3% since the beginning of the war in the Middle East. That's a pretty modest decline, given that the ongoing conflict has resulted in...
Key Points Oil prices would need to rise higher and remain there for months. The Federal Reserve would have to pivot to a hawkish stance. The economy would need to already be weak. 10 stocks we like better than S&P 500 Index › The U.S. stock market is down less than 3% since the beginning of the war in the Middle East. That's a pretty modest decline, given that the ongoing conflict has resulted in an almost complete drop-off in shipping traffic through the Strait of Hormuz and a resulting oil price spike that has driven the price of Brent crude from about $72 to over $100 a barrel, a 40% increase. But what would have to happen to cause a full correction in the stock market, which is typically defined as a drop of 10% or more? 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 » Deutsche Bank recently examined past market disruptions caused by geopolitical crises to identify common factors that could trigger a 15% or larger drawdown in the S&P 500 (SNPINDEX: ^GSPC). The investment bank came up with three scenarios that could drive the market down that much. Three ways the S&P 500 could drop The first scenario is an oil price spike of 50% to 100% that persists for several months. While the price of Brent did spike briefly to around $120 a barrel, a nearly 70% increase, those price levels didn't last long, and crude settled back to near $100. To spark a recession, oil would have to rise above $107 a barrel and remain there for months. Remember that since 2019, the U.S. has been a net exporter of petroleum products, and it's also much more energy efficient than in decades past. So higher oil prices do considerably less damage to the economy today than they once did. The second scenario is an oil price shock that tips an already slowing economy into recession. That raises the question of how healthy the U.S...
Jonathan Kitchen/DigitalVision via Getty Images Summary 2026 supports continued exposure to growth equities—with positive drivers ranging from procyclical fiscal policy to the solid earnings growth achieved by many companies. With midterm elections in the mix, 2026's equity market gains may not rival the unusually strong returns of recent years. Selectivity will be essential; Calamos Growth Fund's...
Jonathan Kitchen/DigitalVision via Getty Images Summary 2026 supports continued exposure to growth equities—with positive drivers ranging from procyclical fiscal policy to the solid earnings growth achieved by many companies. With midterm elections in the mix, 2026's equity market gains may not rival the unusually strong returns of recent years. Selectivity will be essential; Calamos Growth Fund's portfolio favors domestic capital expenditure beneficiaries and pro-cyclical themes. Our all-cap mandate will continue to confer valuable advantages as market leadership broadens beyond mega-caps. Investment Manager Discussion 2025 will be remembered as a year that truly tested investor conviction. Markets endured multiple shocks yet still managed a third consecutive year of strong double-digit returns. The path was anything but smooth, yet the S&P 500 Index delivered a total return of 18% despite policy shocks, sticky inflation, and a 43-day government shutdown. The year began with an unexpected jolt in late January when Chinese artificial intelligence (AI) startup DeepSeek released a model that performed comparably to leading Western models—supposedly at a fraction of the cost—briefly shaking confidence in US technological leadership. Markets absorbed the blow quickly as hyperscaler spending continued, but it highlighted a key investor question that has persisted ever since: How much longer can the enormous spending on AI continue? April, of course, brought “Liberation Day” tariffs and a swift 10% correction, but the administration’s quick pivot to a 90-day pause sparked one of the largest single-day rallies since 2008. By May, indexes had recovered, but tariff policy remained a source of recurring volatility. The middle part of the year saw markets navigating a “higher for longer” rate environment, as inflation remained stubbornly near 3% and the Federal Reserve stayed on hold throughout the summer. The Fed finally resumed rate cuts in September and October, but the pro...
5AM Venture Management disclosed a full exit from Dianthus Therapeutics (DNTH +1.61%) on February 17, 2026, selling 365,053 shares worth $14.36 million in the fourth quarter. What happened According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, 5AM Venture Management sold its entire stake of 365,053 shares in Dianthus Therapeutics. The quarter-end value of the posit...
5AM Venture Management disclosed a full exit from Dianthus Therapeutics (DNTH +1.61%) on February 17, 2026, selling 365,053 shares worth $14.36 million in the fourth quarter. What happened According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, 5AM Venture Management sold its entire stake of 365,053 shares in Dianthus Therapeutics. The quarter-end value of the position decreased by $14.36 million as a result of the exit. What else to know Top holdings after the filing: NASDAQ:TRDA: $41.70 million (13.1% of AUM) NASDAQ:CAMP: $35.98 million (11.3% of AUM) NASDAQ:TYRA: $27.06 million (8.5% of AUM) NASDAQ:VRDN: $22.92 million (7.2% of AUM) NASDAQ:PHVS: $22.13 million (7.0% of AUM) As of Wednesday, shares of Dianthus Therapeutics were priced at $80.68, up 288% over the past year. Much of that is from this year alone (so after 5AM’s exit), with shares nearly doubling since the end of last quarter. Company overview Metric Value Market capitalization $3.5 billion Revenue (TTM) $3.08 million Net income (TTM) ($126.34 million) Price (as of Wednesday) $80.68 Company snapshot Dianthus Therapeutics develops novel monoclonal antibody therapies targeting severe autoimmune and inflammatory diseases, with DNTH103 in clinical trials for multiple neuromuscular indications. The company operates a clinical-stage biotechnology business model. It serves patients with rare and severe autoimmune disorders, with a focus on neuromuscular disease populations. Dianthus Therapeutics, Inc. is a clinical-stage biotechnology company specializing in the development of next-generation monoclonal antibody treatments for complex autoimmune and inflammatory diseases. With a pipeline led by DNTH103, the company leverages advanced antibody engineering to address high unmet medical needs in neuromuscular and immune-mediated indications. The company's strategy centers on innovative R&D and targeted clinical development, aiming to deliver differentiated therapies for underserv...
The past few years have been a nonstop thrill ride for Amazon (AMZN 1.77%) shareholders. The company was able to leverage its industry-leading position in cloud computing to become a leader in the artificial intelligence (AI) boom. By positioning Amazon Web Services (AWS) as an AI marketplace, the company was able to reignite its cloud growth, which has been crucial to Amazon's ongoing success. CE...
The past few years have been a nonstop thrill ride for Amazon (AMZN 1.77%) shareholders. The company was able to leverage its industry-leading position in cloud computing to become a leader in the artificial intelligence (AI) boom. By positioning Amazon Web Services (AWS) as an AI marketplace, the company was able to reignite its cloud growth, which has been crucial to Amazon's ongoing success. CEO Andy Jassy just provided a stunning long-range forecast that, if accurate, could have significant implications for the company's future, much to the delight of Amazon shareholders. AWS revenue of $600 billion During an internal all-hands meeting on Tuesday, Jassy laid out his vision for the future, with AWS leading the charge. The chief executive believes that AWS could generate $600 billion in annual revenue over the next 10 years, according to a report first published by Reuters. He noted that before the AI revolution, he had pictured AWS eventually achieving a run rate of $300 billion. However, the advent of AI has had a profound effect on the tech landscape, with cloud computing customers clamoring for access to AI models and tools to increase workforce productivity. The resulting increase in demand has Jassy rethinking his original estimates. "I think with what's happening in AI, AWS has a chance to be at least double that," he said. Amazon has been crystal clear about its growth prospects in the coming years and is spending heavily to stake its claim in an AI-driven future. When the company reported its fourth-quarter results last month, Jassy unveiled Amazon's plans to continue to capitalize on the AI revolution: We expect to invest about $200 billion in capital expenditures (capex) across Amazon.com, Inc., but predominantly in AWS, because we have very high demand. Customers really want AWS for core and AI workloads. And we are monetizing capacity as fast as we can install it. That last sentence helps illustrate that Amazon is capacity-constrained and building to ...