True Vision MN, a Minnesota advisory, initiated a new position in the iShares Defense Industrials Active ETF (NASDAQ:IDEF) during the first quarter, acquiring 87,908 shares worth $2.88 million, according to an April 16, 2026, SEC filing. According to a SEC filing dated April 16, 2026, True Vision MN disclosed a new position in the iShares Defense Industrials Active ETF (NASDAQ:IDEF) , purchasing 8...
True Vision MN, a Minnesota advisory, initiated a new position in the iShares Defense Industrials Active ETF (NASDAQ:IDEF) during the first quarter, acquiring 87,908 shares worth $2.88 million, according to an April 16, 2026, SEC filing. According to a SEC filing dated April 16, 2026, True Vision MN disclosed a new position in the iShares Defense Industrials Active ETF (NASDAQ:IDEF) , purchasing 87,908 shares. The quarter-end value of the stake stood at $2.88 million. The iShares Defense Industrials Active ETF provides investors with a vehicle to gain targeted exposure to the defense and industrials sectors. The fund employs an active management strategy, leveraging BlackRock's research capabilities to select securities with potential for superior risk-adjusted returns. Its competitive advantage lies in its ability to dynamically allocate assets within these sectors, responding to market trends and opportunities for growth. Continue reading
Market turnarounds like this don't happen often. Barclays strategist Venu Krishna pointed out that the S & P 500 went from near correction territory (down about 9% from its all-time peak) back to an all-time high in just 11 trading days. That's the fastest move to record levels from a bottom of at least 9% since at least 1990, he said. "Semis, Media (i.e., Internet) and Hardware are powering the r...
Market turnarounds like this don't happen often. Barclays strategist Venu Krishna pointed out that the S & P 500 went from near correction territory (down about 9% from its all-time peak) back to an all-time high in just 11 trading days. That's the fastest move to record levels from a bottom of at least 9% since at least 1990, he said. "Semis, Media (i.e., Internet) and Hardware are powering the record-breaking rally as buyers pile back into AI thematic plays that weighed on the index during the 'escalator down' in February and March," he wrote to clients. .SPX YTD bar SPX year to date The turnaround comes as investors increasingly price in a resolution to the U.S.-Iran war. President Donald Trump said Thursday the conflict was going "swimmingly," adding that it " should be ending pretty soon ." There's just one issue: Investors appear to be getting complacent again, and it's showing under the stock market's surface. "Unfortunately, despite fresh highs over the past few days, breadth has begun to stall. The Equal-Weight S & P and Value Line indices are starting to struggle beneath shorter-term resistance levels," wrote Rob Ginsberg, strategist at Wolfe Research. Indeed, the Invesco S & P 500 Equal Weight ETF (RSP) has mostly stayed in a range between $198.41 and $201.02, two Fibonacci retracement levels going back to the mid-February peak. The iShares Russell 1000 Value ETF (IWD) has also been capped at around $225 this week, failing to break above the March 2 close of $225.77. IWD 3M bar IWD 3-mo chart All that could improve Friday, though, with stocks up sharply in early trading after Iran declared the Strait of Hormuz open to commercial traffic so long as the 10-day Israel-Lebanon ceasefire holds.
MicroStockHub Negotiations between the United States and Iran appear to be gaining traction, with early-stage discussions reportedly focused on a framework aimed at reducing regional tensions. According to Axios, officials from both sides are reviewing a concise three-page proposal that outlines potential terms for de-escalation. Central to the talks is a possible agreement in which Iran would rel...
MicroStockHub Negotiations between the United States and Iran appear to be gaining traction, with early-stage discussions reportedly focused on a framework aimed at reducing regional tensions. According to Axios, officials from both sides are reviewing a concise three-page proposal that outlines potential terms for de-escalation. Central to the talks is a possible agreement in which Iran would relinquish its stockpile of enriched uranium in exchange for access to roughly $20B in previously frozen financial assets. While the discussions remain preliminary, the structure of the proposal signals a shift toward tangible concessions on both sides. Market participants are increasingly factoring in the likelihood of a breakthrough. Data from prediction platforms indicates traders are assigning approximately a 70% probability that a nuclear agreement could be reached by early July. The sharp rise in expectations underscores growing confidence that diplomatic momentum may translate into a near-term deal, though key geopolitical and verification challenges remain unresolved. Outlined below are the priced-in forecasts by Kalshi traders when asked, When will a U.S.–Iran nuclear deal take place? Before May — 34% chance. Before June — 54% chance. Before July — 69% chance. Before August — 64% chance. Before September — 65% chance. Before 2027 — 74% chance. Before 2028 — 82% chance. Before Jan 20, 2029 — 80% chance. Market Tracking ETFs: ( DIA ), ( DDM ), ( DOG ), ( DXD ), ( SDOW ), ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( QQQ ), ( QQQM ), ( TQQQ ), ( QID ), and ( SQQQ ). More on markets HSBC says 1Q earnings remain resilient despite turbulent markets Dividend Roundup: Johnson & Johnson, Costco, Caterpillar, CVS Health, and more Markets flip the switch from fear to FOMO, Citadel’s Rubner says Henry Paulson sounds alarm on potential Treasury market shock Narrow tech rally powers market higher despite weak breadth
Truist Financial (NYSE:TFC) reported first-quarter 2026 net income available to common shareholders of $1.4 billion, or $1.09 per diluted share, as the company cited loan growth in priority segments, higher fee income led by investment banking and wealth management, and a lower effective tax rate ti
Truist Financial (NYSE:TFC) reported first-quarter 2026 net income available to common shareholders of $1.4 billion, or $1.09 per diluted share, as the company cited loan growth in priority segments, higher fee income led by investment banking and wealth management, and a lower effective tax rate ti
Badger Meter ( BMI ) announced on Friday that it had signed a definitive agreement to acquire UK-based UDlive for $100M. The transaction is expected to close at the end of April 2026. The cash-funded acquisition is expected to expand Badger Meter’s presence in sewer line monitoring and strengthen its BlueEdge water management suite, combining SmartCover’s U.S. footprint with UDlive’s U.K. presence...
Badger Meter ( BMI ) announced on Friday that it had signed a definitive agreement to acquire UK-based UDlive for $100M. The transaction is expected to close at the end of April 2026. The cash-funded acquisition is expected to expand Badger Meter’s presence in sewer line monitoring and strengthen its BlueEdge water management suite, combining SmartCover’s U.S. footprint with UDlive’s U.K. presence to enhance its global reach. The company had reported $22 million in revenue and a positive operating profit for fiscal 2026 ended Feb. 28. Shares -3.01%. More on Badger Meter Badger Meter: A Good Long-Term Buy At Reasonable Valuation (Rating Upgrade) Badger Meter, Inc. (BMI) Q4 2025 Earnings Call Transcript Badger Meter, Inc. 2025 Q4 - Results - Earnings Call Presentation Badger Meter Q1 2026 Earnings Preview Quant snapshot: JinkoSolar, PNC Financial lead top-rated names as SL Green Realty, Badger Meter lag
(Pentatone) This thoughtfully curated programme of work by three British composers explores the guitar’s expressive potential, and new arrangements of Harrison Birtwistle’s piano originals are a revelation On his new album, Sean Shibe surveys the guitar’s expressive potential through the lens of three British composers. There are interlocking themes here – Spain, 20th-century painters, antique mus...
(Pentatone) This thoughtfully curated programme of work by three British composers explores the guitar’s expressive potential, and new arrangements of Harrison Birtwistle’s piano originals are a revelation On his new album, Sean Shibe surveys the guitar’s expressive potential through the lens of three British composers. There are interlocking themes here – Spain, 20th-century painters, antique musical forms – but this thoughtfully curated programme can be equally enjoyed piece by piece as a series of mind-expanding flights of fancy. Thomas Adès’s Forgotten Dances pays homage to the baroque dance suite, the composer’s quirky titles imbuing traditional forms with an additional imaginative layer. Overture, Queen of the Spiders, for example, combines stately harmonics with sneaking slides and the occasional pounce (“fatal for the fly!” in the composer’s words). Barcarolle – The Maiden Voyage is a nostalgic lapping gymnopedie; Carillon de Ville a pealing tribute to the guitar-playing Hector Berlioz. In Vesper (for Henry Purcell), Adès reimagines the consolation of the older composer’s Evening Hymn. Shibe’s playing throughout is acutely articulate and technically impeccable. Continue reading...
Key PointsClark Asset Management increased its BSCU position by 206,125 shares in the first quarter; the estimated trade size was $3.48 million based on quarterly average prices.
Key PointsClark Asset Management increased its BSCU position by 206,125 shares in the first quarter; the estimated trade size was $3.48 million based on quarterly average prices.
Something unusual is happening in tech. Valuations have fallen so far in 2026 that traditional value investors — the bargain hunters who normally wouldn’t touch high-growth stocks — are starting to pay attention. That’s according to Canadian asset manager Middlefield Group, which noted in recent market commentary that tech stock valuations “have compressed to levels that are no longer just attract...
Something unusual is happening in tech. Valuations have fallen so far in 2026 that traditional value investors — the bargain hunters who normally wouldn’t touch high-growth stocks — are starting to pay attention. That’s according to Canadian asset manager Middlefield Group, which noted in recent market commentary that tech stock valuations “have compressed to levels that are no longer just attractive to growth buyers." "They are now actively drawing the attention of traditional value investors w
JHVEPhoto/iStock Editorial via Getty Images TSMC: Capacity Shortages Now A Big Problem Investors of Taiwan Semiconductor Manufacturing Company Limited ( TSM) were likely befuddled as the leading edge foundry saw its stock struggle for momentum post-earnings. After all, I hardly find anything in TSMC’s first-quarter earnings scorecard that could lead me to reach out to my blood pressure machine. It...
JHVEPhoto/iStock Editorial via Getty Images TSMC: Capacity Shortages Now A Big Problem Investors of Taiwan Semiconductor Manufacturing Company Limited ( TSM) were likely befuddled as the leading edge foundry saw its stock struggle for momentum post-earnings. After all, I hardly find anything in TSMC’s first-quarter earnings scorecard that could lead me to reach out to my blood pressure machine. It was business as usual. Another quarter, and another solid earnings release. It's almost like clockwork right now for TSM management, ringing the cash register and benefiting from the unprecedented AI infrastructure buildout. And, really, what’s there to nitpick about these numbers? TSMC Q1 highlights (Author, company filings) And that’s despite N3 still ramping up, as it accounted for 25% of wafer revenue. TSMC wafer shipments (Semianalysis) Given how crucial the N2 & N3 nodes are for AI HPC through at least the end of 2027, I believe TSMC will continue to retain and even improve margins further as the most leading-edge footprint grows. However, given how quickly semiconductor stocks have recovered from the April bottom, I think it's now more difficult for me to simply ignore the observation that the market went into this Q1 print with even higher optimism. TSMC N3 shortage (Semianalysis) And the possibility that TSM has been facing a quandary over increasing even more N3 capacity has been well documented. We already know that the supply constraints in the TSMC foundry have already resulted in gains for Samsung Foundry ( SSNLF ) with Tesla ( TSLA ). In addition, Intel has also gotten a new lease of life with Elon Musk’s SpaceX ( SPACE ), as the soon-to-be first trillionaire of the world wants to get his hands on 1 TW of capacity by building in his fabs. By now, we know they are called Terafab, and it appears that Intel has gotten the nod from Musk in this potentially massive partnership. But, the execution is still a big question mark, by the way. And some could argue that...
JHVEPhoto/iStock Editorial via Getty Images TSMC: Capacity Shortages Now A Big Problem Investors of Taiwan Semiconductor Manufacturing Company Limited ( TSM) were likely befuddled as the leading edge foundry saw its stock struggle for momentum post-earnings. After all, I hardly find anything in TSMC’s first-quarter earnings scorecard that could lead me to reach out to my blood pressure machine. It...
JHVEPhoto/iStock Editorial via Getty Images TSMC: Capacity Shortages Now A Big Problem Investors of Taiwan Semiconductor Manufacturing Company Limited ( TSM) were likely befuddled as the leading edge foundry saw its stock struggle for momentum post-earnings. After all, I hardly find anything in TSMC’s first-quarter earnings scorecard that could lead me to reach out to my blood pressure machine. It was business as usual. Another quarter, and another solid earnings release. It's almost like clockwork right now for TSM management, ringing the cash register and benefiting from the unprecedented AI infrastructure buildout. And, really, what’s there to nitpick about these numbers? TSMC Q1 highlights (Author, company filings) And that’s despite N3 still ramping up, as it accounted for 25% of wafer revenue. TSMC wafer shipments (Semianalysis) Given how crucial the N2 & N3 nodes are for AI HPC through at least the end of 2027, I believe TSMC will continue to retain and even improve margins further as the most leading-edge footprint grows. However, given how quickly semiconductor stocks have recovered from the April bottom, I think it's now more difficult for me to simply ignore the observation that the market went into this Q1 print with even higher optimism. TSMC N3 shortage (Semianalysis) And the possibility that TSM has been facing a quandary over increasing even more N3 capacity has been well documented. We already know that the supply constraints in the TSMC foundry have already resulted in gains for Samsung Foundry ( SSNLF ) with Tesla ( TSLA ). In addition, Intel has also gotten a new lease of life with Elon Musk’s SpaceX ( SPACE ), as the soon-to-be first trillionaire of the world wants to get his hands on 1 TW of capacity by building in his fabs. By now, we know they are called Terafab, and it appears that Intel has gotten the nod from Musk in this potentially massive partnership. But, the execution is still a big question mark, by the way. And some could argue that...
Getty Images Schwab US Dividend Equity ETF ( SCHD ) made major changes to its portfolio and this wasn’t just a routine reconstitution. The timing of it could not be any more relevant than this in the middle of the Iran conflict. In this analysis, I want to focus on how SCHD may perform relative to other dividend and value ETFs in 2026. On the net basis, I view SCHD's reconstitution as a very favor...
Getty Images Schwab US Dividend Equity ETF ( SCHD ) made major changes to its portfolio and this wasn’t just a routine reconstitution. The timing of it could not be any more relevant than this in the middle of the Iran conflict. In this analysis, I want to focus on how SCHD may perform relative to other dividend and value ETFs in 2026. On the net basis, I view SCHD's reconstitution as a very favorable setup for strong 2026 returns relative to the large value category. This has a lot to do with a material tilt to defensive, energy and healthcare allocations. For this reason, I am upgrading SCHD to Strong Buy. SCHD’s Dividend Focus Creates Reconstitution Lumpiness SCHD is the gold standard for dividend investors. It goes after companies with a long history of growing dividends (among other things). This makes SCHD very picky. At any given time, only roughly several hundred stocks fall into its selection pool. Eventually, only about 100 stocks make their way into its portfolio. This creates lumpiness in its sector allocations. In other words, reconstitution can wipe out certain sector exposures completely. For instance, the materials sector exposure went from 3% to nothing in March. SCHD deleted the 6 materials sector names from its portfolio altogether. Here is a reconstitution table with sector allocation changes before vs. today. I also compare SCHD allocations to its large value category to spot differences above 5%. These are the areas that will make or break SCHD’s performance in 2026 and beyond. SCHD's Sector Allocations Before and After Reconstitution (Schwab, Morningstar) Compared to its large value peers, SCHD still has an above average allocation to energy. That’s even after reducing it from ~24% to 16%. Healthcare and consumer staples are two other sectors that SCHD overweights. But, its allocation to the financial sector remains low even after reconstitution. At the same time, it allocated way more to tech stocks, which put it on par with its large value E...
Sign up now! Sign up now! Sign up now? Sign up now! Nottingham Forest’s quest to emulate Tottenham continues. For all of Spurs’ ongoing misery, they remain something of a model club: Forest’s quarter-final victory against Porto on Thursday night keeps that twisted dream alive, to finish 17th in the league and lift Bigger Vase. Naturally, Ange Postecoglou started the run, getting a point at Real Be...
Sign up now! Sign up now! Sign up now? Sign up now! Nottingham Forest’s quest to emulate Tottenham continues. For all of Spurs’ ongoing misery, they remain something of a model club: Forest’s quarter-final victory against Porto on Thursday night keeps that twisted dream alive, to finish 17th in the league and lift Bigger Vase. Naturally, Ange Postecoglou started the run, getting a point at Real Betis in September before passing the baton to Sean Dyche, who did most of the group-stage slog. He then handed over to Vítor Pereira for the knockouts. Should Forest go all the way, they’ll need to cut the manager’s medal into quarters; Nuno Espírito Santo was the man who got them into Europe. Yes, what a healthy way this is to run a football club. Continue reading...
jetcityimage/iStock Editorial via Getty Images Introduction We previously covered Broadstone Net Lease, Inc. ( BNL ) in September 2023 and issued a buy recommendation at that time. In this article, we revisit our thesis and find that Broadstone is trading at a fair value range. Our model points to Broadstone deserving a 26.08% premium to invested capital, and the current enterprise value to invest...
jetcityimage/iStock Editorial via Getty Images Introduction We previously covered Broadstone Net Lease, Inc. ( BNL ) in September 2023 and issued a buy recommendation at that time. In this article, we revisit our thesis and find that Broadstone is trading at a fair value range. Our model points to Broadstone deserving a 26.08% premium to invested capital, and the current enterprise value to invested capital sits at 22.96%, suggesting limited upside potential. In this study, we take a top-down approach and start with the relationship between interest rates and the Diversified Nareit REIT sector, of which Broadstone is a part. We then consider the historical stock performance of Broadstone relative to the sector since their IPO in September 2020. We next turn to company-specific factors and quantify the amount of economic profit, or investment spread, that Broadstone is able to generate in the current environment. After we quantify the spread, we opine on the possible implications for our fair value estimate. We provide color to the inputs used in our model by connecting each step of our top-down review to the economic engine of Broadstone. Source: Nareit , Seeking Alpha Macro Spread Please take a look at Exhibit 1. Exhibit 1 (Nareit and Federal Reserve Bank of St. Louis) Since Q4 2020, the Nareit Diversified REIT sector has traded at about 358 basis points above the U.S. 10-year Treasury. For Q4 2025, the spread was 334 basis points, well within one standard deviation and signaling that the sector is probably fairly valued. Broadstone makes up 13.4% of the sector in terms of implied market capitalization. Implied market capitalization includes common equity as well as OP units. Beta Statistic Please see Exhibit 2. Exhibit 2 (Nareit and Seeking Alpha) In comparing the monthly returns of BNL to the Diversified REIT sector, we find BNL's beta statistic to be 0.89, which implies that for every step move of the sector, BNL’s stock moves 0.89 of the way in the same directi...
Some exporters at the Canton Fair in Guangzhou report a modest return of orders to China from Southeast Asia, as energy-market volatility linked to the US-Israeli war in Iran prompts some Western buyers to prioritise supply chain stability. The shift is visible in buyer patterns on the exhibition floor, where the number from Europe and the United States appears to have recovered from last year’s l...
Some exporters at the Canton Fair in Guangzhou report a modest return of orders to China from Southeast Asia, as energy-market volatility linked to the US-Israeli war in Iran prompts some Western buyers to prioritise supply chain stability. The shift is visible in buyer patterns on the exhibition floor, where the number from Europe and the United States appears to have recovered from last year’s levels, according to Chinese exporters, with more inquiries for home appliances, new energy products...