Jelena83/iStock via Getty Images Investment Thesis I am maintaining my buy on Li Auto Inc. ( LI ) at these levels, but I owe an honest accounting first. I last covered the stock in early September of last year alongside NIO ( NIO ), where I favoured Li Auto as a reset opportunity and downgraded NIO to a Sell. The Sell on NIO worked, but the buy on Li Auto didn’t. The stock is down around 37% since...
Jelena83/iStock via Getty Images Investment Thesis I am maintaining my buy on Li Auto Inc. ( LI ) at these levels, but I owe an honest accounting first. I last covered the stock in early September of last year alongside NIO ( NIO ), where I favoured Li Auto as a reset opportunity and downgraded NIO to a Sell. The Sell on NIO worked, but the buy on Li Auto didn’t. The stock is down around 37% since then, while the S&P500 was up around 18.6% during the same period. The Techie I am maintaining the stock with a buy regardless, because I think 1Q26 was the trough of a self-inflicted margin cycle, not the start of a structural decline. According to the company’s CFO, Tie Li, on the earnings call, Our first quarter gross margin was impacted by several factors, including the model refresh cycle. We need to refresh our L Series starting from the L9, and also a higher mix of i6, and also L6 deliveries among the total, and also purchasing tax subsidy to the i6. Still, the company expects gross margin recovery to around 10% in 2Q and continued improvement through the second half as the model refresh completes. The i6 has stabilized over 20,000 units per month and is now a top-3 BEV SUV in China, and the new L9 launched May 15 and pulled in over 10,000 orders at the RMB 500,000-plus Livis trim within two weeks. I think the negatives are priced in, and the questions remains whether the catalyst path is. I’ll discuss this in more detail in a bit, but first, let’s take a look at the earnings. The print Li Auto reported 1Q on May 28, and the stock shot down around 6%. Revenue came in at RMB 23 billion, down 11.4% year over year. Vehicle margin collapsed to 6.1% versus 19.8% a year ago and 16.8% sequentially, and gross margin fell to 7.9% from 17.8% sequentially. Net loss also widened to RMB 2.3 billion. Li said the compression was driven by "the model refresh cycle and a higher mix of i6 and L6 deliveries," with the i6 carrying lower unit economics during ramp and the legacy L-serie...
Shares of the biggest alternative asset managers tumbled Wednesday after Cliffwater LLC ’s flagship private credit fund reported even larger redemption requests than in the first quarter, setting off a new wave of fears about the industry. Shares of Blackstone Inc. , KKR & Co. Inc. , Blue Owl Capital Inc. , Apollo Global Management Inc. and Ares Management Corp. all fell at least 4%, with analysts...
Shares of the biggest alternative asset managers tumbled Wednesday after Cliffwater LLC ’s flagship private credit fund reported even larger redemption requests than in the first quarter, setting off a new wave of fears about the industry. Shares of Blackstone Inc. , KKR & Co. Inc. , Blue Owl Capital Inc. , Apollo Global Management Inc. and Ares Management Corp. all fell at least 4%, with analysts expressing concern that the high level of redemptions could further extend a period of tumult for the $1.8 trillion private credit market. “We remain in the camp that the Alts may not work until Labor Day given related reporting cycles, though such a view is contingent on redemption requests peaking, or showing further signs of deceleration,” TD Cowen analyst Bill Katz wrote in a note to clients. After 17% redemption requests for its $31 billlion fund, Cliffwater told investors they would cap withdrawals at 5%, according to a letter seen by Bloomberg. Funds managed by Blackstone, BlackRock Inc., Ares Management, and Oaktree Capital Management all have tender offers expiring in June, which will be watched closely by investors. Katz said if funds’ March and April data fail to show improvements, industry recovery could be pushed out until year-end. Read More: Cliffwater Private Credit Fund Stung by 17% Redemption Requests Business development companies have been under increasing pressure this year as retail investors raise their redemption requests on fears that the asset managers are exposed to businesses that could be disrupted by artificial intelligence. Blue Owl led the declines earlier this year and said in April that it was limiting redemptions after a surge in requests. “AI disintermediation risk to software is a near-term risk over the next 2 years due to shorter maturity and the concentration in the high-risk cohort,” Citigroup analyst Steph Choe wrote in a May note to clients. “While BDC manager commentary appears sanguine, forward-looking market signals suggest pre...
Bloom Energy Corp. struggled for years to convince investors its fuel cells were a practical alternative to cheaper sources of electricity. Then Brookfield Asset Management Ltd. came along right as the AI boom ramped up. The investment manager pledged up to $5 billion late last year to deploy Bloom’s devices at data centers that need energy to run AI models. It was the first wager for Brookfield’s...
Bloom Energy Corp. struggled for years to convince investors its fuel cells were a practical alternative to cheaper sources of electricity. Then Brookfield Asset Management Ltd. came along right as the AI boom ramped up. The investment manager pledged up to $5 billion late last year to deploy Bloom’s devices at data centers that need energy to run AI models. It was the first wager for Brookfield’s new artificial intelligence fund — a piece of a bigger campaign to amass $50 billion for the grids, transportation networks and physical structures driving the economy. Brookfield’s cash will help meet the city-size electricity needs of an Oracle Corp. data center campus in New Mexico, said people familiar with the matter. The project, spanning 1,400 acres across desert land, ties Brookfield to Oracle’s aggressive push to support ChatGPT maker OpenAI ’s power-hungry computing processes. Best known as an offshoot of a Canadian conglomerate whose infrastructure bets spanned freight railways, toll roads and utilities, today the New York-based investment giant is also betting that the physical foundations behind the computing boom will become a $7 trillion opportunity. AI will feature in every infrastructure strategy as the firm seeks to raise roughly $50 billion across such funds, said people familiar with the matter. Infrastructure investments have historically taken the form of bridges, sewage systems and other public works, not data centers or chips providers. Some investors have begun to wonder whether Brookfield is stretching the definition of “infrastructure” and have held off on backing the AI fund, said people familiar with the matter. TD Securities Inc. ’s Cherilyn Radbourne summed up some of the concerns recently. “How do you manage the balancing act of leaning in enough to AI without getting over-allocated to it?” she asked Brookfield executives on an analysts call last month. The investment opportunity in AI infrastructure is so vast that the firm can be selective...
DWS Group GmbH & Co. KGaA (ETR:DWS) used its 2026 annual general meeting to highlight record 2025 results, new medium-term targets and a continued push into growth areas including ETFs, alternative investments, digital assets and international partnerships. Supervisory Board Cha
DWS Group GmbH & Co. KGaA (ETR:DWS) used its 2026 annual general meeting to highlight record 2025 results, new medium-term targets and a continued push into growth areas including ETFs, alternative investments, digital assets and international partnerships. Supervisory Board Cha
Meta Platforms周三推出了一款人工智能助手，旨在协助企业开展日常运营，此举标志着这家社交媒体巨头正式进军企业级人工智能市场。 该产品在伦敦举行的以WhatsApp为主题的“Conversations”大会上发布，通过启用“代理”功能，在现有企业消息服务的基础上进行了扩展。借助该功能，助手可以代表企业执行诸如预约日历会议和完成销售等操作。 该公司表示，已有超过100万家企业正在Whats...
As artificial intelligence (AI) transforms workplaces around the world, most people are asking the same question: What skills will still matter when AI can do so much? According to Advanced Micro Devices (AMD) CEO Lisa Su, the answer isn't simply learning how to use AI tools. Su recently told ...
As artificial intelligence (AI) transforms workplaces around the world, most people are asking the same question: What skills will still matter when AI can do so much? According to Advanced Micro Devices (AMD) CEO Lisa Su, the answer isn't simply learning how to use AI tools. Su recently told ...
Investing.com -- Morgan Stanley sharply raised its price targets on Micron Technology and SanDisk Corporation, more than doubling its Micron target to $1,050 from $520 and lifting SanDisk to $1,750 from $1,100, as the firm said demand continues to outpace supply across memory markets with no near-term relief in sight.
Investing.com -- Morgan Stanley sharply raised its price targets on Micron Technology and SanDisk Corporation, more than doubling its Micron target to $1,050 from $520 and lifting SanDisk to $1,750 from $1,100, as the firm said demand continues to outpace supply across memory markets with no near-term relief in sight.
The S&P 500 Index ($SPX ) (SPY ) today is down -0.57%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.60%. June E-mini S&P futures (ESM26 ) are down -0.50%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) today is down -0.57%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.60%. June E-mini S&P futures (ESM26 ) are down -0.50%, and June E-mini Nasdaq futures...
JHVEPhoto/iStock Editorial via Getty Images Shares of Nucor ( NUE ) have been an excellent performer over the past year, more than doubling in value. While it took some time, the Trump Administration’s steel tariffs have resulted in a significant tightening of the domestic steel market, enabling domestic players like Nucor to gain market share and raise prices, even as overall manufacturing and co...
JHVEPhoto/iStock Editorial via Getty Images Shares of Nucor ( NUE ) have been an excellent performer over the past year, more than doubling in value. While it took some time, the Trump Administration’s steel tariffs have resulted in a significant tightening of the domestic steel market, enabling domestic players like Nucor to gain market share and raise prices, even as overall manufacturing and construction activity has been muted. Frankly, the magnitude of the rally has surprised me; I last covered Nucor in October , rating the stock a “hold” given muted industrial activity. Since then, shares are up 84%, meriting a clear buy rating, and with updated financials and macro developments, now is a good time to revisit shares. Seeking Alpha Upon taking office, President Trump reimposed widespread 25% tariffs on steel using Section 232 authority. While President Biden maintained a part of these tariffs, more exemptions were granted, and Trump's 2025 action brought policy back to where it was in the first Trump Administration. I would emphasize that this trade authority is different than the reciprocal tariffs blocked by the Supreme Court; this authority is narrower and legally tested across multiple administration. Last year, the Administration further raised the tariff rate, and there is now a 50% tariff on imported steel under the Section 232 tariffs. This made tariffs more restrictive than ever. In April , the Administration tightened policy further, tariffing products with steel in them at 25%, rather than trying to assess the value of the steel and charging that component 50%. On Tuesday , the Trump Administration further refined tariffs and backtracked a bit, reducing the tariff rate on some steel derivative products to 15% from 25%; however, steel racks remain 25%. I do not foresee this loosening as shifting overall steel market dynamics. As you can see below, these tariffs have helped to materially reduce international competition. In 2024, steel imports were con...
Lululemon Athletica ( LULU ) will report its results for the first quarter on Thursday, after market close, with the stock down around 2% in trading ahead of the print. Wall Street expects the company to post earnings of $1.68 per share , on revenue of $2.43B, representing a year-over-year rise of 2.5%. During the quarter, Lululemon grappled with concerns over slowing growth, disappointing guidanc...
Lululemon Athletica ( LULU ) will report its results for the first quarter on Thursday, after market close, with the stock down around 2% in trading ahead of the print. Wall Street expects the company to post earnings of $1.68 per share , on revenue of $2.43B, representing a year-over-year rise of 2.5%. During the quarter, Lululemon grappled with concerns over slowing growth, disappointing guidance, and a decline in U.S. revenue, even as it beat earnings and revenue expectations in its previous quarter. Investors also focused on a leadership transition, with the company naming former Nike executive Heidi O’Neill as Chief Executive, while tensions with founder Chip Wilson escalated over strategy and board composition. The retailer continued to pursue growth initiatives, including its expansion into Mexico and new product innovation, as it sought to revive momentum in an increasingly competitive activewear market. According to Seeking Alpha’s Quant Rating system, LULU is rated Strong Sell with an overall score of 1.48 out of 5, reflecting an A- in profitability, but it has an F in terms of momentum. While a recent Seeking Alpha analysis maintained a bullish stance on LULU ahead of its results, pointing to its premium brand, vertically integrated model, and international growth as key supports despite leadership uncertainty and weakness in the Americas. The analyst said investors should monitor U.S. comparable sales and China growth closely, noting that "the uncertainty is presenting an opportunity for us to own a dominant retail brand" and describing the current setup as "a compelling buying opportunity." Over the past year, LULU has beaten EPS estimates 100% of the time and has beaten revenue estimates 75% of the time. Over the last three months, EPS estimates have seen no upward revisions and 17 downward revisions, while revenue estimates have seen one upward revision and 15 downward moves. Shares have fallen around 39.8% so far this year. More on Lululemon lululemo...