格隆汇2月24日｜欧洲央行行长拉加德：完成我的任期是我的基本计划。

格隆汇2月24日｜欧洲央行行长拉加德：美联储主席提名人沃什面临的最大挑战将是专注于其在美联储的职责；欧洲央行将逐次会议决定政策，且必须保持灵活性。

Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today

Esteban Alejandro/iStock via Getty Images Gran Tierra Energy Inc. ( GTE ) has been under financial stress for some time, as discussed in my last article and articles before that. But now comes a series of deals that really defies logic. At this point it is probably not worth trying to understand what is going on. Instead, it is time to sell while moving on. Sometimes there is a company that succeeds this way. But that does not make up for all the times many others do not. Therefore, success in this particular situation depends upon finding that one company that will make it. I, personally, prefer better odds than the equivalent of betting at the casino. The last article noted that the budget may be on the optimistic side. I am therefore taking the sale of the Simonette properties for C$62.5 million as a continuing sign of that financial stress. The money is to be used to reduce the debt levels on the balance sheet. Note that the debt is stated in stronger United States dollars. Gran Tierra Debt Situation As Shown In January Corporate Presentation (Gran Tierra Corporate Presentation January 2026) Before we talk about the rest of the deals, let us first discuss the debt situation and the budget given before the deals were announced. As shown above, the debt amounts are very roughly at least three times the estimated (projected 2026) EBITDA. That is about double the accepted standard that many companies adhere to for a debt ratio. Previous articles covered some signs that the debt level was onerous. The forward sale of some production for cash basically confirms that the situation is likely to be tight. But the proceeds of $C62 million (roughly) are not enough to really change the situation materially. That could well mean that there are more actions to be taken. That debt shown above is in United States dollars. Note Deal The company has basically tendered for as many C$716 million (roughly face value) of tendered secured notes due in 2029 as it could. This was done t...

Spanish giants Barcelona have signed 16-year-old Norwich City academy prospect Ajay Tavares, who has played for England age-group teams.

ClarkandCompany/E+ via Getty Images The iShares MSCI Global Gold Miners ETF ( RING ) has benefited from a sharp gold-driven margin expansion phase in the past few months. Many constituents have started repairing their balance sheets, but very few have reached a stage where the cash balance can cover sustained capital returns if gold prices pull back from here. At this stage of the cycle, the ETF still behaves largely as a leveraged gold proxy rather than as a self-funded cash compounding vehicle. My thesis argues that today’s environment may justify higher gold prices due to macroeconomic and geopolitical uncertainty, but RING’s risk-reward still depends on gold prices and the durability of the regime too. A few more quarters of gold strength is when the balance sheet can be meaningfully positioned to deliver mechanical EPS accretion even if a declining gold price regime emerges. There are supportive factors beyond gold prices alone that are at play and that make RING a strong hold for existing investors. Most of the material constituents in RING are so far demonstrating defensive capital allocation strategies instead of chasing expansion in a peak cycle period. That helps create a more defensible floor in the future; however, it equally robs the portfolio of windfall growth ahead, unless led by continued strength in gold prices and demand. Overall, I rate RING as a Hold, and will await more proof of sustained balance sheet consolidation before accumulating fresh longs. Gold Regimes, Miners, and Where We Are The share price response in the underlying miners in RING typically moves differently in different capital cycles. A price spike phase is typically when gold rises faster than costs, and AISC remains relatively protected and a less sensitive factor. In this phase (phase one), most miners see strong EBITDA and free cash flow conversion, and net debt begins to fall. The share prices get a double tailwind from earnings expansion and upgrades, as well as valuation r...

欧洲央行行长拉加德表示，即使欧洲在开发前沿模型方面未能处于领先地位，但仍然可以利用人工智能。 拉加德周一在华盛顿表示：“如果历史可以作为参考，更大的经济利益可能不在于生产这些工具，而在于将它们应用到更广泛的经济领域。”她特别强调了制造业和工业流程。 她表示，在这方面，“欧洲处于优势地位”，并引用一项调查称，欧盟制造业企业在使用人工智能和大数据以及部署机器人技术方面领先于美国同行。 拉加德表示，“欧洲的工业基础——有时被视为旧经济的遗产——可能最终会成为其最重要的资产。” 责任编辑：李桐

Although machine learning’s low-hanging fruit has been plucked, TSM stock continues to swing higher thanks to where the underlying business is fundamentally positioned.

Taiwan Semi Stock Is Soaring Above AI Bubble Fears. Where Options Data Says It Is Headed Next. Yahoo Finance

Taiwan Semi Stock Is Soaring Above AI Bubble Fears. Where Options Data Says It Is Headed Next. Barchart.com

SoundHound AI (NASDAQ: SOUN) has experienced considerable price movement in recent months. Shares of the voice-recognition specialist rose in the summer and fall of last year but has since given back all of those gains. The unpredictability may increase when it announces earnings for the fourth quarter and full year 2025 on Feb. 26. Do such conditions make now a good time to buy SoundHound AI stock , or should investors stay on the sidelines? Image source: Getty Images. Continue reading

On February 17, 2026, Baker Bros. Advisors LP disclosed a buy of 437,000 Praxis Precision Medicines (NASDAQ:PRAX) shares, estimated at $81.38 million based on quarterly average pricing. According to a recent SEC filing , Baker Bros. Advisors increased its stake in Praxis Precision Medicines by 437,000 shares during the fourth quarter of 2025. The estimated value of the transaction is $81.38 million, calculated using the period's average closing price. The post-trade stake stood at 1,126,488 shares, with the quarter-end valuation up by $295.48 million due to both trading activity and price movements. Praxis Precision Medicines is a Boston-based biotechnology company focused on advancing therapies for neurological and psychiatric disorders with significant unmet medical need. The company leverages a robust pipeline of differentiated clinical candidates targeting neuronal imbalance, supported by strategic collaborations and licensing agreements. Its approach aims to deliver first-in-class or best-in-class treatments, positioning Praxis as a potential leader in the CNS therapeutics market. Continue reading

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in PayPal Holdings Inc (Symbol: PYPL), where a total of 254,262 contracts have traded so far, representing approximately 25.4 million underlying shares. That amounts to abou

Streets empty as residents shield from chaos of retaliatory attacks after death of ‘El Mencho’ in federal raid Mexico is on alert after cartel gunmen went on a violent rampage of revenge in response to federal forces killing their leader, a notorious mob boss known as “El Mencho”. Authorities had attempted to capture Nemesio Rubén Oseguera Cervantes in the western state of Jalisco on Sunday but the raid led to a firefight that fatally wounded the infamous leader and killed six of his accomplices, according to officials. Continue reading...

On Feb. 13, 2026, Fluor Corp. (NYSE:FLR) , a large shareholder of NuScale Power Corporation (NYSE:SMR) , disclosed the sale of 71 million shares of common stock for a total consideration of ~$1.35 billion, as detailed in the SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($19.05). * 1-year price change calculated as of Feb. 13, 2026. Continue reading

Yauhen Akulich/iStock via Getty Images Market Review Bonds delivered fourth-quarter gain. U.S. investment-grade bonds logged their fourth straight quarterly gain. The volatile period witnessed the longest U.S. government shutdown in history, mounting job cuts, tepid consumer sentiment and growing division among Federal Reserve (Fed) policymakers. Economy remained resilient. The government shutdown canceled or delayed key economic data, but available metrics indicated resilience. The U.S. economy gathered strength in the third quarter, logging an annualized growth rate of 4.3%, compared with 3.8% in the second quarter. Other data released in the fourth quarter showed economic activity slowed but generally remained expansionary. Fed easing continued. The Fed cut rates by 0.25% in October and again in December, dropping the target lending rate to a range of 3.5% to 3.75%. Labor market concerns prompted the easing, as the November unemployment rate reached 4.6%, the highest since September 2021. Meanwhile, growing division among Fed policymakers tempered expectations for future rate cuts. Treasury yields were mixed. Treasury yields were volatile, and they ended the three-month period mixed. Labor market concerns and Fed easing contributed to a 0.14% decline in the two-year Treasury yield to 3.28%. Meanwhile, the yield on the 10-year Treasury rose slightly from 4.15% to 4.17%. The yield curve between two and 10 years steepened. Inflation slowed. Inflation moderated in the quarter. However, due to the government shutdown, the Bureau of Economic Analysis delayed the core personal consumption expenditures index, the Fed's preferred inflation gauge. Overall, inflation expectations moderated, and Treasury inflation-protected securities (TIPS) underperformed nominal Treasuries. Sector performance was positive. All sectors of the broad investment-grade bond market advanced in the quarter, led by the outperforming mortgage-backed securities sector. Treasuries outperformed invest...

格隆汇2月24日｜据Punchbowl：美国能源部长赖特今天就委内瑞拉及石油问题向国会小组作简报。

格隆汇2月24日｜欧洲央行行长拉加德：通胀和政策处于良好状态。

Key PointsBaker Bros. Advisors increased its stake in GRAIL by 455,208 shares during the fourth quarter; the estimated transaction value was $39.33 million based on quarterly average pricing.

Source: Bloomberg, 5:56

格隆汇2月24日｜据日经新闻：松下将于今年4月将其北美和欧洲的电视销售业务转让给创维集团。在其他亚洲市场，松下计划探索本地优化战略，包括与创维进一步开展潜在合作。

格隆汇2月24日｜据日经新闻：松下控股全球裁员约1.2万人。

格隆汇2月24日｜当地时间2月23日，美国国务院将对黎巴嫩的旅行警告调升为“第四级：勿要前往”，这是美国务院有关旅行建议的最高级别警告。美国国务院称，鉴于“犯罪、恐怖主义、社会动荡、绑架、未爆地雷以及武装冲突风险”等因素，建议美国公民不要前往黎巴嫩，部分地区尤其是边境附近风险更高。同日，美国国务院还以黎巴嫩首都贝鲁特的安全形势为由，下令美国驻黎巴嫩大使馆非紧急政府工作人员及相关家属撤离。美方表示，使馆人员未经事先批准不得进行个人出行，并称可能因安全问题或威胁变化，在几乎不提前通知的情况下进一步收紧对美方人员的出行限制。

The company sold more common shares to buy $40 million worth of bitcoin, even as its total holdings are more than $8 billion in the red.

Key PointsKalshi remains a privately held company, at least for now.

Plan B-2 By Benjamin Picton, senior market strategist at Rabobank US stocks closed higher on Friday following news that the Supreme Court had ruled 6-3 to uphold a lower court decision that found Trump’s signature tariff policy to be illegal. The court found that Trump acted beyond his authority by imposing tariffs under the International Emergency Economic Powers Act with the majority holding that tariffs are a branch of taxation and that the Constitution grants powers over taxation to Congress, not to the President. Critically, the Court found that IEEPA makes no specific mention of delegating tariff powers to the Executive and that there exists no precedent of IEEPA being used to levy tariffs. Precious metals are higher in early trade, the DXY is down, US equity futures are pointing lower and Brent crude is down by almost 1%. Aussie yields are now bull-flattening after initially moving higher, but Kiwi yields are holding at higher levels following idiosyncratic strong retail sales data. Aussie stocks have opened weaker, but the Hang Seng, TAIEX and KOSPI are catching a bid, highlighting the winners-and-losers effect of shifts in tariff policy that has just delivered a boost to countries who previously had a comparatively bad deal. Unsurprisingly, the administration reacted with disappointment to the decision but then moved quickly to impose new baselines tariffs of 10% - later increased to the maximum rate of 15% - using powers granted by Section 122 of the Trade Act. As regular readers would know, we have been pointing out for some time that this and other avenues exist – on firmer legal ground – for the administration to continue to pursue its tariff strategy. Other potential avenues include: Section 232 of the Trade Expansion Act, which allows the President to impose tariffs of indefinite duration and with no cap if imports threaten national security. This requires a Commerce Department investigation finding that such a threat exists and would typically be app...