Pelican Products CEO JC Curleigh joins Open Interest to talk about how the iconic protective case maker is finding fresh momentum in defense, as drones reshape military logistics. He details why Pelican is partnering earlier with defense innovators, how US factories are scaling production, and why premium protection still commands premium pricing. (Source: Bloomberg)
Pelican Products CEO JC Curleigh joins Open Interest to talk about how the iconic protective case maker is finding fresh momentum in defense, as drones reshape military logistics. He details why Pelican is partnering earlier with defense innovators, how US factories are scaling production, and why premium protection still commands premium pricing. (Source: Bloomberg)
Gabriela Santos, chief market strategist for the Americas at JPMorgan Asset Management , joins Scarlet Fu and Tom Keene on "Bloomberg Money." (Source: Bloomberg)
Gabriela Santos, chief market strategist for the Americas at JPMorgan Asset Management , joins Scarlet Fu and Tom Keene on "Bloomberg Money." (Source: Bloomberg)
da-kuk/E+ via Getty Images A striking valuation shift has taken hold in the S&P 500 ( SPY ) ( SP500 ), with more than half of the index’s total market capitalization now concentrated in stocks trading above 10 times sales. Data shared by WisdomTree strategist Jeff Weniger, using Refinitiv figures as of Friday, shows that 51% of the index’s value sits in companies with price-to-sales ratios exceedi...
da-kuk/E+ via Getty Images A striking valuation shift has taken hold in the S&P 500 ( SPY ) ( SP500 ), with more than half of the index’s total market capitalization now concentrated in stocks trading above 10 times sales. Data shared by WisdomTree strategist Jeff Weniger, using Refinitiv figures as of Friday, shows that 51% of the index’s value sits in companies with price-to-sales ratios exceeding 10. The group includes Nvidia ( NVDA ), Apple ( AAPL ), Alphabet ( GOOGL ) ( GOOG ), Microsoft ( MSFT ), Broadcom ( AVGO ), Tesla ( TSLA ), Micron ( MU ), Eli Lilly ( LLY ), AMD ( AMD ) and Oracle ( ORCL ), among dozens of others. The concentration poses risks: when so much of the index sits at valuations leaving little room for disappointment, even small misses on growth or margins can have outsized effects. Jeff Weniger More on the Markets The Market Is Misreading The May Jobs Report The Stronger Labor Market Will Keep The Fed On Hold Another $1+ Trillion Club Member: VOO Catalyst Watch: SpaceX IPO, Apple's WWDC, CPI, and the World Cup kicks off Nasdaq plunges 4% as Wall Street drops after the latest payrolls report
Gabriela Santos, chief market strategist for the Americas at JPMorgan Asset Management, joins Scarlet Fu and Tom Keene on "Bloomberg Money." (Source: Bloomberg)
Gabriela Santos, chief market strategist for the Americas at JPMorgan Asset Management, joins Scarlet Fu and Tom Keene on "Bloomberg Money." (Source: Bloomberg)
England have a golden opportunity for victory in the first Test against New Zealand despite a chaotic collapse of four wickets for one run in 11 balls on the second day at Lord's.
England have a golden opportunity for victory in the first Test against New Zealand despite a chaotic collapse of four wickets for one run in 11 balls on the second day at Lord's.
Only one Wall Street analyst still rates Lululemon Athletica Inc. as a buy after the upscale yogawear company cut its annual forecast amid slumping sales in North America. BTIG LLC analyst Janine Stichter downgraded the firm to a neutral rating from a buy on Friday following Lululemon’s first-quarter earnings report , pointing to decelerating sales that “suggests more work ahead.” That leaves CFRA...
Only one Wall Street analyst still rates Lululemon Athletica Inc. as a buy after the upscale yogawear company cut its annual forecast amid slumping sales in North America. BTIG LLC analyst Janine Stichter downgraded the firm to a neutral rating from a buy on Friday following Lululemon’s first-quarter earnings report , pointing to decelerating sales that “suggests more work ahead.” That leaves CFRA’s Zachary Warring as the sole bull among 32 analysts covering the stock — the fewest buy recommendations for the stock since Lululemon went public in 2007. Read more: Lululemon Shares Sink to Eight-Year Low on Disappointing Outlook Stichter’s downgrade is the latest in a string of cuts by analysts over the last two and a half years as the retailer struggled with slower sales , tariff headwinds and a proxy battle with the brand’s founder Chip Wilson, which ended in May. More than 80% of analysts had buy-equivalent ratings on Lululemon in late 2023, as the stock climbed to a record high. Since then, the stock shed nearly 80% of its value. Lululemon shares have already fallen by more than 40% so far this year, matching 2025 declines, as the company struggles to turn performance around and investors balked at the appointment of Heidi O’Neill as chief executive officer. BNP Paribas analyst Laurent Vasilescu also downgraded the stock following its first-quarter earnings report, slashing his price target to a Street-low $88 from $170 and moving his rating to underperform from neutral. Vasilescu said recent product launches are not working and the firm’s China segment is seeing a meaningful slowdown in sales. For UBS Securities LLC analyst Jay Sole , Friday’s rout, which dragged the stock to its lowest level since 2018, doesn’t represent a buying opportunity. Sole argued that shares may continue to be under pressure as profit estimates for the firm continue to fall this year.
Fela Sanu/iStock Editorial via Getty Images FF Global Holdings Is An Uneven Performer FF Global Holdings Ltd. ( FFGG ) has filed proposed terms to raise $31 million in a U.S. IPO, according to an SEC F-1/A registration statement . The company is a trader of premium African hardwood logs to clients in China, Vietnam, and Dubai. FF Global has produced uneven growth and financial results, is subject ...
Fela Sanu/iStock Editorial via Getty Images FF Global Holdings Is An Uneven Performer FF Global Holdings Ltd. ( FFGG ) has filed proposed terms to raise $31 million in a U.S. IPO, according to an SEC F-1/A registration statement . The company is a trader of premium African hardwood logs to clients in China, Vietnam, and Dubai. FF Global has produced uneven growth and financial results, is subject to myriad risks, and management’s valuation assumptions at IPO appear excessive. My outlook on the FFGG IPO is to sell (avoid it). What Does FF Global Do? Singapore-based FF Global provides a range of African hardwood selection and trading services for importation primarily to Asian and Middle-Eastern destinations. The firm sources its logs through a distributor active in the Democratic Republic of Congo (DRC), as designated by SCIBOIS Co. Ltd., the operator of a forest concession of 234,862 hectares of managed forest in northwestern DRC. The company generates revenue from the sources and locations shown in the pie charts below: SEC FF is led by Chief Executive Officer Ms. Yu Jin, who has been with the firm since July 2025 and previously was the Executive Chairman and CEO of JES International Holdings and has extensive international business experience. What Is FF Global’s Market? FF Global operates in the African timber trading market. According to a 2024 Regional Timber Trade Flows and Trends in Africa report by the Africa Natural Resources Management and Investment Centre ( PDF ), the African timber market as a whole produced surpluses with fluctuations between 1992 and 2020. During this period, the primary products trade surplus was $23.2 billion, while secondary and tertiary wood products were in deficit of $28.9 billion and $59.9 billion, respectively, indicating the region is exporting raw materials but importing finished products. In its trading operations, the company faces numerous competitors as listed below: IFCO. SODEFOR. EXOTT Srl. Eastern Lumber. Timberline A...
The May jobs report shocked Wall Street, with the US adding 172,000 jobs and pushing Fed-hike bets higher. Bond yields surged as stocks pulled back and investors leaned out of the AI trade. White House National Economic Council Director Kevin Hassett and BlackRock Global Fixed Income CIO Rick Rieder react to the numbers. Meanwhile, Revelio Labs CEO Ben Zweig joined "Bloomberg Open Interest" to war...
The May jobs report shocked Wall Street, with the US adding 172,000 jobs and pushing Fed-hike bets higher. Bond yields surged as stocks pulled back and investors leaned out of the AI trade. White House National Economic Council Director Kevin Hassett and BlackRock Global Fixed Income CIO Rick Rieder react to the numbers. Meanwhile, Revelio Labs CEO Ben Zweig joined "Bloomberg Open Interest" to warn about the "frozen" labor market and how entry-level workers can get ahead in the hiring process. Get a jump start on the US trading day with Matt Miller and Dani Burger on Bloomberg Open Interest. (Source: Bloomberg)
Welcome to ETF IQ, a weekly newsletter dedicated to the $23 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld . Mapping Out a Merger Speculation is building that David Booth ’s storied asset management firm Dimensional Fund Advisors might be looking for a buyer. Citywire reported last week that Dimensional, which pioneered factor investing and broke into ETFs in a...
Welcome to ETF IQ, a weekly newsletter dedicated to the $23 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld . Mapping Out a Merger Speculation is building that David Booth ’s storied asset management firm Dimensional Fund Advisors might be looking for a buyer. Citywire reported last week that Dimensional, which pioneered factor investing and broke into ETFs in a big way in 2020, is exploring a potential sale . Bloomberg Intelligence suggested a potential suitor this week: JPMorgan Asset Management. Such a tie-up would create a monster active ETF manager, given that DFA and JPMorgan have been battling for the top slot for years. As a combined entity, they would manage more than $500 billion in active ETFs, leaving Capital Group a distant third with about $140 billion. Here’s the logic in the eyes of Bloomberg Intelligence senior ETF analyst Eric Balchunas . To start, the two issuers have complementary styles of active management — rather than taking big fundamental swings, JPMorgan is a leader in covered-call ETF strategies (think JEPI and JEPQ ) while Dimensional is known for its large stable of systematic products. Both charge relatively low fees for their active offerings, even by ETF industry standards. And to boot, every one of Dimensional’s ETFs are profitable, according to BI — a rare feat, given that typically, only half of ETFs typically cover their operating costs. There’s also the fact that JPMorgan Chief Executive Officer Jamie Dimon said just last week that the bank is “ on the lookout ” for its next big deal, and has between $10 billion and $20 billion to put to work. No kidding! Now, both JPMorgan and Dimensional declined to comment, so let’s not get too far ahead of ourselves. But after Goldman Sachs spent $2 billion on Innovator late last year, it’s possible that more ETF industry consolidation could be in the offing. Where No ETF Has Gone Before We witnessed an industry first this week: the Vanguard S&P 500 ETF (t...
Concrete Pumping Holdings (NASDAQ: BBCP) rocketed 31.5% on Friday as of 2:00 p.m. EDT, despite most stocks getting absolutely hammered today, based on inflation and interest rate fears. This small-cap construction stock reported its fiscal second-quarter earnings last night. Concrete Pumping does just what its name implies: pump concrete for construction projects. In addition to its core construct...
Concrete Pumping Holdings (NASDAQ: BBCP) rocketed 31.5% on Friday as of 2:00 p.m. EDT, despite most stocks getting absolutely hammered today, based on inflation and interest rate fears. This small-cap construction stock reported its fiscal second-quarter earnings last night. Concrete Pumping does just what its name implies: pump concrete for construction projects. In addition to its core construction business, Concrete Pumping offers a waste management service tied to its construction projects and has a smaller operation in the United Kingdom. While overall construction remains somewhat subdued, the booming AI data center and chip fabrication plant segments of the market were enough to propel Concrete Pumping to mid-teens growth, ahead of expectations. At the same time, management also revealed that this AI-related segment now accounts for a larger share of the business. Continue reading
Bloomberg's Lisa Mateo joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss the major events in the coming days including US Inflation data, the SpaceX IPO, and major global sporting events. (Source: Bloomberg)
Bloomberg's Lisa Mateo joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss the major events in the coming days including US Inflation data, the SpaceX IPO, and major global sporting events. (Source: Bloomberg)