Nvidia shares were up 0.5% to $193.71 in premarket trading Wednesday. The stock has climbed 2.6% over the past five trading days. The chip-maker’s fourth-quarter earnings, to be released after the bell Wednesday, will be seen as a bellwether for artificial-intelligence spending.
Nvidia shares were up 0.5% to $193.71 in premarket trading Wednesday. The stock has climbed 2.6% over the past five trading days. The chip-maker’s fourth-quarter earnings, to be released after the bell Wednesday, will be seen as a bellwether for artificial-intelligence spending.
George Saravelos , the Deutsche Bank AG analyst who wrote a controversial report that became the subject of US ire, has committed to “keep writing,” saying the incident highlighted the importance of independent research. Saravelos warned last month that President Donald Trump’s threats over Greenland may prompt Europe to become less willing to hold US assets . Days later, Treasury Secretary Scott ...
George Saravelos , the Deutsche Bank AG analyst who wrote a controversial report that became the subject of US ire, has committed to “keep writing,” saying the incident highlighted the importance of independent research. Saravelos warned last month that President Donald Trump’s threats over Greenland may prompt Europe to become less willing to hold US assets . Days later, Treasury Secretary Scott Bessent said that the German bank’s CEO had called to dismiss the report . “The episode reaffirmed the importance of research independence,” Saravelos said in an interview with Bloomberg TV on Wednesday, adding he received “a tremendous amount of support” from clients and colleagues. The bank’s global head of FX research meanwhile downplayed the challenges faced by analysts operating in a charged political environment. “As long as you write solid analysis, that tries to be objective and focused on markets rather than politics, I wouldn’t say it’s that difficult. We keep writing and clients like to read us,” said Saravelos. At the time of the controversy, a spokesperson for Deutsche Bank said that “as a matter of long-standing policy, Deutsche Bank Research is independent in their work, therefore views expressed in individual research notes do not necessarily represent the view of the bank’s management.” Saravelos’ previous calls include forecasting the dollar to drop as growth and equity returns pick up outside the US; contending that markets are “too complacent” about threats to the Federal Reserve’s independence; and suggesting the Trump administration eases the risks of the US’s “unsustainable” fiscal position by encouraging more domestic buying of Treasuries.
GMVozd/E+ via Getty Images Introduction The last time I covered Fresh Del Monte Produce ( FDP ), I titled the analysis “Healthy Food, Strong Fundamentals And Growing Dividends Support Their Re-Rating,” highlighting how this company is an undervalued way to gain exposure to a global chain of healthy food production (fruits and vegetables), with several tailwinds that can support their re-rating goi...
GMVozd/E+ via Getty Images Introduction The last time I covered Fresh Del Monte Produce ( FDP ), I titled the analysis “Healthy Food, Strong Fundamentals And Growing Dividends Support Their Re-Rating,” highlighting how this company is an undervalued way to gain exposure to a global chain of healthy food production (fruits and vegetables), with several tailwinds that can support their re-rating going forward, growing their dividends and buybacks on top. After a very solid earnings report, continued asset recycling and balance sheet improvements and an expected bid for some of their sister company’s assets following the latter’s bankruptcy, I still believe FDP is in a very strong position to benefit from long-term tailwinds, supporting a Strong Buy rating despite the potential uncertainty in the banana industry. Internal Developments Fresh Del Monte Produce IR FDP reported a strong Q4 overall, beating the market’s top- and bottom-line estimates and advancing their portfolio streamlining throughout what’s been a pivotal year. As expected and mentioned in the previous coverage, FDP was a bidder for some of Del Monte Foods, recently winning court approval to buy some of their assets, reuniting with parts of what’s left of their sibling company after nearly 4 decades. The purchase price is $285 million plus certain liabilities, expected to close in Q1 2026, unifying the Del Monte brand and creating what they call a “stronger, more flexible platform focused on efficiency innovation and long-term value creation.” As a note, this comes nearly 30 years after the current CEO purchased FDP (taking it public about a year later), adding to his “deeply personal” conviction, as he still owns about 10.4% of the business now. The CFO also offered a lot more clarity into what they purchased, highlighting the following during their Q4 Earnings Call : The assets include the vegetable tomato and refrigerated fruit businesses, primarily under the Del Monte, S&W and Contadina brands. The t...
Witness claims suspect entered mosque during Ramadan evening prayers armed with axe Police in Manchester have arrested a suspect after he allegedly entered Manchester Central Mosque “acting suspiciously” and carrying an offensive weapon A witness said the suspect, whom he described to be in his late 40s, entered the mosque on Tuesday evening armed with an axe. Four people quickly restrained the su...
Witness claims suspect entered mosque during Ramadan evening prayers armed with axe Police in Manchester have arrested a suspect after he allegedly entered Manchester Central Mosque “acting suspiciously” and carrying an offensive weapon A witness said the suspect, whom he described to be in his late 40s, entered the mosque on Tuesday evening armed with an axe. Four people quickly restrained the suspect and hit him with a fire extinguisher, he said. Continue reading...
New book Boss Lincoln takes a fresh look at a well-studied political figure, showing him to be a master of party politics Some historians are wary of discussing their work in light of modern events, comparing subjects to current political players. Not Matthew Pinsker of Dickinson College, the author of both a major new book, Boss Lincoln: The Partisan Life of Abraham Lincoln , and the Substack Wha...
New book Boss Lincoln takes a fresh look at a well-studied political figure, showing him to be a master of party politics Some historians are wary of discussing their work in light of modern events, comparing subjects to current political players. Not Matthew Pinsker of Dickinson College, the author of both a major new book, Boss Lincoln: The Partisan Life of Abraham Lincoln , and the Substack What Would Lincoln Do? . “I’m not running away from it, that’s for sure,” Pinsker said from Carlisle, Pennsylvania. Continue reading...
Blackstone-backed Bagmane Prime Office REIT is preparing to launch an initial public offering as soon as next month, seeking a valuation of about $3.9 billion, according to people familiar with the matter. The Bengaluru-based real estate developer has secured regulatory approval and begun investor roadshows, the people said, asking not to be identified because the information is private. The propo...
Blackstone-backed Bagmane Prime Office REIT is preparing to launch an initial public offering as soon as next month, seeking a valuation of about $3.9 billion, according to people familiar with the matter. The Bengaluru-based real estate developer has secured regulatory approval and begun investor roadshows, the people said, asking not to be identified because the information is private. The proposed offering will aim to raise 40 billion rupees ($440 million), including as much as 30 billion rupees of newly issued units and a secondary sale of 10 billion rupees by Blackstone, according to the IPO prospectus filed in December. Discussions are ongoing and details such as the size and timing of the share sale could change, the people said. A spokesperson for Bagmane REIT didn’t respond to a request for comment. India’s market for first-time share sales is off to a subdued start in 2026, following two consecutive years of record fundraising. The nation’s stocks have been pressured by slowing earnings growth, global trade uncertainty and uneven foreign inflows. But real estate developers are increasingly turning to capital markets to raise funds, signaling their confidence that the shift of millions of people toward cities will ensure robust demand. Read More: Urban Migration in India Sets Stage for Record Property IPO Year India has seven registered REITs, of which Knowledge Realty Trust, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, Embassy Office Parks REIT and Nexus Select Trust are listed. As of June 30, 2025, Bagmane’s portfolio comprised six Grade A+ business parks totaling 20.3 million square feet, including 19.6 million square feet of leasable area, the filing shows. The REIT reported a gross asset value of 387.9 billion rupees. According to the prospectus, net proceeds from the fresh issue will primarily be used for asset acquisitions and general corporate purposes. Kotak Mahindra Capital Co., Axis Bank Ltd., JM Financial Ltd., IIFL Capital...
Juanmonino/iStock Unreleased via Getty Images It looks like United Parcel Service ( UPS ) recently survived a dividend scare. Before its recent earnings report on January 27, I'm sure many people were concerned that a dividend cut would come because the dividend payouts were higher than the company's free cash flow. But that cut never came. Now, UPS's own free cash flow estimate for the full year ...
Juanmonino/iStock Unreleased via Getty Images It looks like United Parcel Service ( UPS ) recently survived a dividend scare. Before its recent earnings report on January 27, I'm sure many people were concerned that a dividend cut would come because the dividend payouts were higher than the company's free cash flow. But that cut never came. Now, UPS's own free cash flow estimate for the full year suggests that the dividend is covered, so the company may be out of the woods if it can execute. If so, does that mean you should buy the stock now while it's still yielding a pretty decent 5.6%? UPS bulls aren't going to like my answer, but to me, the answer is "No." The company is undergoing a turnaround that can make it stronger in the longer term. However, at the end of the day, turnarounds carry execution risk, and I also believe the valuation isn't attractive, with low dividend growth ahead because the forward FCF payout ratio is already high. I prefer to stay on the sidelines with this stock, and it's not a clear short, so I'm giving it a Hold rating. UPS Is Out Of The Woods For Now In 2025, free cash flow started trending lower, with TTM FCF hitting a low of $3.54 billion in Q2 2025. Then, FCF starting rebounding, and it finished at $4.765 billion for the full year. Still, that was lower than the $5.4 billion in dividends paid, and that doesn't even include the $1 billion in share repurchases. UPS was returning more money than it was making, and some investors began to think a dividend cut was coming. UPS's 2025 Capital Allocation (Q4-2025 Investor Presentation) Instead, the dividend remained unchanged, at $1.64/share, or $6.56 annualized. Also, based on the company's outlook, which forecasts FCF of ~$6.5 billion this year, the dividend will actually be covered on a forward basis. That gives the company some wiggle room, as it can miss its FCF estimate by $1 billion and still have the dividend covered. UPS's 2026 Guidance (Q4-2025 Investor Presentation) Nonetheless,...