Microsoft (NasdaqGS:MSFT) announced that longtime Xbox leader Phil Spencer will retire from the company. Asha Sharma, an executive from Microsoft's CoreAI group, has been appointed as the new CEO of Microsoft Gaming. The leadership handover marks a shift toward deeper integration of AI capabilities across Microsoft's gaming products and services. For investors watching Microsoft at a share price o...
Microsoft (NasdaqGS:MSFT) announced that longtime Xbox leader Phil Spencer will retire from the company. Asha Sharma, an executive from Microsoft's CoreAI group, has been appointed as the new CEO of Microsoft Gaming. The leadership handover marks a shift toward deeper integration of AI capabilities across Microsoft's gaming products and services. For investors watching Microsoft at a share price of $397.23, this change comes at a time when the stock shows mixed recent performance, with a...
Micron Technology (NasdaqGS:MU) is reshaping its business around AI infrastructure, exiting most consumer memory products and prioritizing high-bandwidth memory for data centers. The company reports that its high-bandwidth memory supply is already committed through 2026 under multi-year agreements with major AI and cloud customers. Micron is planning up to US$200b in new U.S. fabrication capacity,...
Micron Technology (NasdaqGS:MU) is reshaping its business around AI infrastructure, exiting most consumer memory products and prioritizing high-bandwidth memory for data centers. The company reports that its high-bandwidth memory supply is already committed through 2026 under multi-year agreements with major AI and cloud customers. Micron is planning up to US$200b in new U.S. fabrication capacity, supported in part by government incentives, to meet long term AI-related demand. For investors...
Monty Rakusen/DigitalVision via Getty Images Nextdoor's ( NXDR ) 4Q25 earnings seemed to only reinforce my original sell stance. I think because of the $403 million cash cushion, the firm lacks a sense of urgency to resolve the business model. That cash cushion is the only reason for reiterating my hold rating. Transformation takes focus, it takes courage, and it takes time. It is not a straight l...
Monty Rakusen/DigitalVision via Getty Images Nextdoor's ( NXDR ) 4Q25 earnings seemed to only reinforce my original sell stance. I think because of the $403 million cash cushion, the firm lacks a sense of urgency to resolve the business model. That cash cushion is the only reason for reiterating my hold rating. Transformation takes focus, it takes courage, and it takes time. It is not a straight line and is neither predictable nor immediate, but it represents the best path for us to unlock the next phase of growth for Nextdoor and create lasting value for our users, advertisers and shareholders. - Nirav Tolia , CEO of Nextdoor A Deeper Look at 4Q25 Nextdoor Revenue Trends (Nextdoor 4Q25 Presentation) Revenue increased 7% year-over-year (or, yoy) to $69 million. While that looks solid, management also mentioned that self-serve (~60% of sales) expanded 32% yoy. Simple arithmetic tells us that the remaining business declined materially and by nearly the same percentage. Self-serve growth (32%) x Percent of revenue (60%) + Remaining Business (-30.5%) x Percent of revenue (40%) = Total topline growth (7%) Ideally I'd have liked to see self-serve meaningfully expand the serviceable market. Instead, what we are seeing is the cannibalization of high-touch sales by low-touch sales. While this is good in terms of operating leverage, I wonder how sticky and predictable this might be. Markets tend to reward predictability and punish a fickle topline. Next, I considered adjusted EBITDA in conjunction with Nextdoor's guidance. Q4 adjusted EBITDA came in at $8 million. On the Q1'26 guidance of $57 - $59 million in sales, Nextdoor expects an adjusted loss of $4 - $6 million. After accounting for quarterly variability, the company's EBITDA breakeven seems to be around $65 - $70 million for the current cost structure. I think there's a case against whether the cost structure is still optimal. Nextdoor R&D and Sales & Marketing expense (Nextdoor 10-K) Let's say about 80% of R&D is per...
matejmo/iStock via Getty Images The following segment was excerpted from the Pershing Square Holdings ( PSHZF ) H2 2025 Letter To Shareholders. Since our initial investment in Howard Hughes Holdings ( HHH ) ("HHH") nearly 10 years ago, we have believed that the company's unique portfolio of master planned communities represents one of the highest-quality collections of real estate development asse...
matejmo/iStock via Getty Images The following segment was excerpted from the Pershing Square Holdings ( PSHZF ) H2 2025 Letter To Shareholders. Since our initial investment in Howard Hughes Holdings ( HHH ) ("HHH") nearly 10 years ago, we have believed that the company's unique portfolio of master planned communities represents one of the highest-quality collections of real estate development assets in the country. Yet, despite the attractive long-term economics of these communities, HHH's share price has persistently failed to reflect the company's intrinsic value and attractive business attributes. We attribute the trading discount to the inherent complexity of the business, the company's exposure to vacant land and real estate development, and the long-term nature of the company's business model to which investors assign a high cost of capital. 2025 marked a pivotal year for HHH as it began its transformation from a real estate company into a diversified holding company. In May 2025, Pershing Square Holdco, L.P., the owner of Pershing Square Capital Management, L.P. ("PSCM"), invested $900 million of primary capital into HHH as part of a plan to transform HHH into a diversified holding company seeking controlling stakes in high-quality, durable growth companies. As a result of the transaction, Pershing Square’s beneficial ownership of HHH, including PSH’s and PSCM’s private funds’ interest, increased to 47% (15% by Holdco and 32% by the Pershing Square funds). Bill Ackman rejoined HHH’s board as Executive Chairman and Ryan Israel joined HHH’s board and executive team as Chief Investment Officer. The full resources of PSCM have been made available to support HHH in its transformation in exchange for a base and variable management fee. We in turn are reducing the management fees we receive from PSH dollar-for-dollar by the fees paid to PSCM by HHH that are attributable to the HHH common stock held by the Company. Our approach to the transformation of HHH is not mea...
Dividend-paying stocks allow investors to generate steady income from their investment portfolios. Midstream companies, also known as pipeline operators , can be excellent dividend stocks with high yields. That's because these businesses tend to have long-term contracts that provide visibility into future earnings. Enterprise Products Partners (NYSE: EPD) and Energy Transfer (NYSE: ET) are two no-...
Dividend-paying stocks allow investors to generate steady income from their investment portfolios. Midstream companies, also known as pipeline operators , can be excellent dividend stocks with high yields. That's because these businesses tend to have long-term contracts that provide visibility into future earnings. Enterprise Products Partners (NYSE: EPD) and Energy Transfer (NYSE: ET) are two no-brainer dividend stocks with high yields. Here's why they could be good investments today. Image source: Getty Images. Enterprise Products Partners is an integrated midstream energy company that connects producers in major supply basins such as the Permian Basin to domestic consumers and international markets. The company has four business segments, but the bulk of its business is in processing natural gas into natural gas liquids (NGLs), fractionation, and transportation. Continue reading
Waste Of The Day: The Story Of Robosquirrel Authored by Jeremy Portnoy via RealClearInvestigations , Topline: Dr. Frankenstein was able to bring his monster back to life using just rusty tools and a cramped workshop. Researchers in California needed taxpayer funding from the National Science Foundation for their own reanimation experiment , with results that were not quite as impressive. In 2012, ...
Waste Of The Day: The Story Of Robosquirrel Authored by Jeremy Portnoy via RealClearInvestigations , Topline: Dr. Frankenstein was able to bring his monster back to life using just rusty tools and a cramped workshop. Researchers in California needed taxpayer funding from the National Science Foundation for their own reanimation experiment , with results that were not quite as impressive. In 2012, San Diego State University and the University of California, Davis used part of a $325,000 grant to create “ Robosquirrel ,” a taxidermied squirrel with a robotic tail. The money would be worth $459,000 today. That’s according to the “Wastebook” reporting published by the late U.S. Senator Dr. Tom Coburn. For years, these reports shined a white-hot spotlight on federal frauds and taxpayer abuses . Coburn, the legendary U.S. Senator from Oklahoma, earned the nickname "Dr. No" by stopping thousands of pork-barrel projects using the Senate rules. Projects that he couldn't stop, Coburn included in his oversight reports. Coburn's Wastebook 2012 included 100 examples of outrageous spending worth more than $18 billion, including the origin story of Robosquirrel. Key facts: Robosquirrel was built to study the predator and prey relationship between squirrels and rattlesnakes. The researchers placed Robosquirrel in a cage with live squirrels so that it would smell like the real thing. Then, they placed the robot in a field with snakes and moved it along a track to make it appear alive. The snakes were fooled. One even bit the robot’s head. But when researchers heated up Robosquirrel’s mechanical tail or made it wag, the rattlesnakes got scared and slithered away. The project was still in its early stages in 2012. The researchers promised that more animals — including RoboKangarooRat and Robosquirrel 2.0, which could throw rocks at rattlesnakes — would soon arrive, though it’s unclear if they ever materialized. Robosquirrel made national headlines in Forbes, CNN and more after Coburn ...
(RTTNews) - The Hong Kong stock market headed south again on Friday, one session after ending the two-day slide in which it had fallen almost 700 points or 2.7 percent. The Hang Seng Index now sits just above the 26,410-point plateau although it may bounce higher again on Monday.
(RTTNews) - The Hong Kong stock market headed south again on Friday, one session after ending the two-day slide in which it had fallen almost 700 points or 2.7 percent. The Hang Seng Index now sits just above the 26,410-point plateau although it may bounce higher again on Monday.