Key PointsInvesco Aerospace & Defense ETF carries a lower expense ratio and significantly higher assets under management than ARK Space & Defense Innovation ETF
Key PointsInvesco Aerospace & Defense ETF carries a lower expense ratio and significantly higher assets under management than ARK Space & Defense Innovation ETF
Jack Smith's Team Exposed Classified Materials, Senator Finds Authored by Zachary Stieber via The Epoch Times, Prosecutors with the office of former special counsel Jack Smith left classified materials unsecured and provided materials to at least one person without confirming that person needed to see them, a senator said on July 8. A set of messages from Smith’s team showed that in 2024, the team...
Jack Smith's Team Exposed Classified Materials, Senator Finds Authored by Zachary Stieber via The Epoch Times, Prosecutors with the office of former special counsel Jack Smith left classified materials unsecured and provided materials to at least one person without confirming that person needed to see them, a senator said on July 8. A set of messages from Smith’s team showed that in 2024, the team left a facility designated for the review of sensitive information open overnight, and potentially longer. “Who opened the [facility] yesterday?” one member of the team asked in a message. “No one opened it yesterday because no one closed it the day before,” another member replied. A second set of messages from 2024 outlined how the team provided classified materials to an unidentified person despite not having confirmation that the person needed to see the materials. The incidents took place as Smith’s team, which was part of the Department of Justice (DOJ), was prosecuting then-presidential candidate and former President Donald Trump for allegedly mishandling classified materials during his first term as president. “Talk about the pot calling the kettle black,” Grassley said in a statement. “According to these messages, Biden DOJ personnel may have committed the very offense for which Jack Smith was prosecuting President Trump. These records expose yet another double standard of justice.” Grassley also wrote in a post on X that the messages “indicate hypocritical [and] careless behavior” and “merit further investigation.” He pointed to how some former officials, such as former Secretary of State Hillary Clinton, mishandled classified information but were not charged. Grassley asked Todd Blanche, the acting attorney general, for more records, including whether the facility that was left unlocked contained any material that was part of Smith’s prosecution of Trump, and whether the DOJ investigated Smith’s team for giving classified information without the need-to-know conf...
Linda Noskova defeats Marta Kostyuk in straight sets in the women's singles semi-final, to set up a meeting with Karolina Muchova for the 2026 Wimbledon title.
Linda Noskova defeats Marta Kostyuk in straight sets in the women's singles semi-final, to set up a meeting with Karolina Muchova for the 2026 Wimbledon title.
Volkswagen AG ’s management said it plans to cut the carmaker’s sprawling model lineup by as much as half, a limited savings push after a supervisory board meeting that stopped short of agreeing on deeper workforce reductions. The proposals follow a showdown at Thursday’s supervisory board meeting, where Chief Executive Officer Oliver Blume had planned to push for doubling job cuts to 100,000 and ...
Volkswagen AG ’s management said it plans to cut the carmaker’s sprawling model lineup by as much as half, a limited savings push after a supervisory board meeting that stopped short of agreeing on deeper workforce reductions. The proposals follow a showdown at Thursday’s supervisory board meeting, where Chief Executive Officer Oliver Blume had planned to push for doubling job cuts to 100,000 and closing four plants in Germany. Details of the potential measures had leaked through ahead of the meeting, irking VW’s powerful labor representatives. VW’s ongoing efforts to cut jobs and capacity weren’t enough “in the current economic and political environment,” Chief Financial Officer Arno Antlitz said late Thursday in a statement. The decision follows weeks of tension with labor leaders and politicians over proposals to eliminate more jobs, shutter sites and carve out the VW brand, according to people familiar with the discussions. Early indications from the labor side, which holds half the supervisory board seats, didn’t indicate any easing in the impasse. “Enough is enough, this is the last straw,” said Daniela Cavallo , the top labor representative, said in statement, delivering an ultimatum for Blume to address workers by Friday or face extraordinary works meetings across Volkswagen after the summer break. Volkswagen’s 2024 pact with workers already calls for more than 35,000 reductions at the VW brand in Germany by 2030, but management has argued that worsening conditions in China, Europe and the US mean those savings are no longer enough. Any restructuring at Volkswagen is difficult because of the company’s complex governance, where labor representatives hold half the seats on the supervisory board and the state of Lower Saxony has significant influence.
Alibaba Group Holding (BABA) stock surged in premarket trading on Wednesday after a wave of good news landed at once. Just days earlier, Alibaba and Anthropic were trading accusations, not compliments, in a dispute over stolen AI technology and hidden tracking code. The rally proves those two ...
Alibaba Group Holding (BABA) stock surged in premarket trading on Wednesday after a wave of good news landed at once. Just days earlier, Alibaba and Anthropic were trading accusations, not compliments, in a dispute over stolen AI technology and hidden tracking code. The rally proves those two ...
Jonathan Kitchen Mercor, which specializes in training artificial intelligence models with specialized data, is in talks to raise new funding at a $20B valuation, Bloomberg reported . Mercor last raised $350M in a Series C funding round that valued the firm at $10B. Mercor counts OpenAI ( OPENAI ), Anthropic ( ANTHRO ), and Meta Platforms ( META ) as customers. Mercor did not immediately respond t...
Jonathan Kitchen Mercor, which specializes in training artificial intelligence models with specialized data, is in talks to raise new funding at a $20B valuation, Bloomberg reported . Mercor last raised $350M in a Series C funding round that valued the firm at $10B. Mercor counts OpenAI ( OPENAI ), Anthropic ( ANTHRO ), and Meta Platforms ( META ) as customers. Mercor did not immediately respond to a request for comment from Seeking Alpha. More on AI companies Meta: Don't Believe The Naysayers That It Has Overbuilt Its Compute Meta: This Stock Is Heating Up Again As Capex Cycle Nears Its Peak Meta Platforms: The Most Obvious Buy This Year Meta explores options to monetize AI infrastructure Meta introduces new Muse Spark 1.1 AI model as Zuckerberg ratchets up competition
A number of stocks jumped in the afternoon session after semiconductor stocks rebounded amid dip buying following a recent selloff, as reports revealed that China may ease restrictions on advanced Nvidia AI chip imports.
A number of stocks jumped in the afternoon session after semiconductor stocks rebounded amid dip buying following a recent selloff, as reports revealed that China may ease restrictions on advanced Nvidia AI chip imports.
stockcam/iStock Unreleased via Getty Images First, Duolingo, Inc. ( DUOL ) suffered from disappointing growth numbers. Then the SaaS apocalypse arrived - and stayed. The stock has struggled to recover as management focuses more on user growth over monetization. Yet the company remains profitable on a GAAP basis with a net cash balance sheet. Consensus estimates look conservative as I see potential...
stockcam/iStock Unreleased via Getty Images First, Duolingo, Inc. ( DUOL ) suffered from disappointing growth numbers. Then the SaaS apocalypse arrived - and stayed. The stock has struggled to recover as management focuses more on user growth over monetization. Yet the company remains profitable on a GAAP basis with a net cash balance sheet. Consensus estimates look conservative as I see potential for growth to re-accelerate over the medium term. I am upgrading the stock to a buy rating. DUOL Stock Price I last covered DUOL in December, where I upgraded the stock to a neutral rating but explained why I was still avoiding the stock on the potential for more downside. The stock has fallen by around 36% since, indicating that my upgrade came still too soon. Data by YCharts While one could make the argument that DUOL does not look attractive when compared to also-beaten-down software peers, I am now of the view that the stock is pricing in an attractive entry point. DUOL Stock Key Metrics DUOL is an application focused on learning, especially language learning. The app has proven to be very popular and perhaps one of the few learning apps that consumers are able to stick with. In the most recent quarter, DUOL generated 27% YoY revenue growth to $292 million, slightly exceeding guidance of $288.5 million. The 14% YoY bookings growth to $308.5 million beat guidance of $301.5 million but represented a steep deceleration from the 24% growth posted in the fourth quarter. Management has signaled an intentional move to focus on user growth and retention over monetization, at least in the near term. 2026 Q1 Shareholder Letter The company saw daily active users (‘DAUs’) grow 21% YoY to 56.5 million. The 7.2% QoQ growth rate looked respectable and represented some acceleration from the 4.4% sequential growth rate seen in the fourth quarter, though seasonality may have had some impact. 2026 Q1 Shareholder Letter DUOL ended the quarter with $1.4 billion of cash and investments vers...
The International Finance Centre and Victoria Harbour in Hong Kong. Photo: VCG Global and Chinese financial institutions are moving quickly to tap a new wave of fixed-income, currency and commodity market initiatives aimed at strengthening Hong Kong’s role as an offshore yuan and commodities trading hub. The People’s Bank of China, the Hong Kong Monetary Authority and Hong Kong’s Securities and Fu...
The International Finance Centre and Victoria Harbour in Hong Kong. Photo: VCG Global and Chinese financial institutions are moving quickly to tap a new wave of fixed-income, currency and commodity market initiatives aimed at strengthening Hong Kong’s role as an offshore yuan and commodities trading hub. The People’s Bank of China, the Hong Kong Monetary Authority and Hong Kong’s Securities and Futures Commission announced 11 measures on July 7 , aiming to strengthen Hong Kong’s fixed-income, currency and offshore yuan markets. Separately, Hong Kong’s long-planned Gold Central Clearing System began trial operations the same day.
Gretchen Lam, CEO of Octagon Credit Investors, joins Katie Greifeld on "Bloomberg Real Yield." US ETFs that buy and sell CLOs now collectively manage more $50 billion after crossing that threshold last week, according to estimates by Bank of America. (Source: Bloomberg)
Gretchen Lam, CEO of Octagon Credit Investors, joins Katie Greifeld on "Bloomberg Real Yield." US ETFs that buy and sell CLOs now collectively manage more $50 billion after crossing that threshold last week, according to estimates by Bank of America. (Source: Bloomberg)
Welcome to ETF IQ, a weekly newsletter dedicated to the $22 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld . Depends on Your Definition SpaceX is a lot of things. It’s a rocket company. It’s a satellite company. It’s a data-centers-in-space company. It’s “one of the defining industrial infrastructure companies of the 21st century” (in the words of one starry-ey...
Welcome to ETF IQ, a weekly newsletter dedicated to the $22 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld . Depends on Your Definition SpaceX is a lot of things. It’s a rocket company. It’s a satellite company. It’s a data-centers-in-space company. It’s “one of the defining industrial infrastructure companies of the 21st century” (in the words of one starry-eyed analyst ). It’s the biggest IPO of all time, and by some measures, it’s a value stock. A quick scan on the Bloomberg Terminal shows that SpaceX is a member of 187 indices, at least 21 of which have “value” in the name. Most of them are FTSE Russell benchmarks. According to an FAQ , the index company classifies SpaceX as a telecommunications company, and — using available book-to-price data — has given SpaceX style assignments of 90.4% growth and 9.6% value. As a result, SpaceX is simultaneously a member of both Russell growth and value indexes. As expected, that means SpaceX is in a number of value-oriented ETFs which passively track those indexes. However, there’s one standout: the $3.2 billion Fidelity Enhanced Large Cap Value ETF (FELV). While the fund tracks the Russell 1000 Value Index, its portfolio is actively managed. As such, FELV’s managers have the liberty to exclude certain names in the index from the ETF itself, and they occasionally do. For example, FELV excludes names such as Union Pacific, Deere and American Express, among others. But SpaceX made the cut. Now, we’re not talking about a massive chunk of the portfolio. Just 0.01% of FELV is dedicated to SpaceX, which is roughly in-line with the company’s 0.02% weighting in the Russell 1000 Value Index. (A Fidelity spokesperson declined to comment.) SpaceX ranking as a value stock is a fun and unintuitive quirk. The proper way to classify a value stock can be endlessly debated, but the common sense definition of the word implies some sort of bargain or discount — not necessarily qualities that you would asso...
Outgoing PM has not ruled out drawing up honours list when he stands down in just over 10 days time, despite previously opposing it Keir Starmer has signalled he could hand out resignation honours when he leaves Downing Street, despite pledging three years ago he would not hand out gongs when he eventually stood down. The prime minister twice declined to rule out drawing up a list of honours when ...
Outgoing PM has not ruled out drawing up honours list when he stands down in just over 10 days time, despite previously opposing it Keir Starmer has signalled he could hand out resignation honours when he leaves Downing Street, despite pledging three years ago he would not hand out gongs when he eventually stood down. The prime minister twice declined to rule out drawing up a list of honours when he stands down as prime minister in just over 10 days time, to be succeeded by Andy Burnham. Continue reading...
COM & O Meta Platforms ( META ) Chief Mark Zuckerberg said the company is considering building a cloud business to offer access to its artificial intelligence infrastructure, Bloomberg reported, citing an exclusive interview. Zuckerberg said Meta ( META ) was evaluating whether some of its AI infrastructure could be used for external customers, including through renting out computing capacity or p...
COM & O Meta Platforms ( META ) Chief Mark Zuckerberg said the company is considering building a cloud business to offer access to its artificial intelligence infrastructure, Bloomberg reported, citing an exclusive interview. Zuckerberg said Meta ( META ) was evaluating whether some of its AI infrastructure could be used for external customers, including through renting out computing capacity or providing access to AI models hosted on Meta's systems. "The offers that you get for using the compute are so high that it may make sense, in some cases, to rent out or consider those kind of deals instead of your own internal uses," Zuckerberg told Bloomberg. He also said Meta does not have excess computing capacity and is currently using all of the computing power available to the company. However, he added that a cloud business was “certainly there any time we want to build it.” One option under consideration is a service that would allow developers to access AI models hosted on Meta's infrastructure. Another possibility is offering access to raw computing capacity, similar to specialized cloud providers. “I don’t know anyone in the industry who feels like they have too much compute,” Zuckerberg said. Zuckerberg also said he was interested in the approach taken by Elon Musk’s SpaceX ( SPCX ), which has explored renting access to its data center capacity through deals with other companies. Meta ( META ) recently announced plans to offer access to its Muse Spark 1.1 model through an API, allowing developers to use the model on Meta’s AI infrastructure and pay based on usage. Zuckerberg said Meta ( META ) still has significant internal demand for its computing resources, adding that the company would evaluate external opportunities as they arise. Shares of META were up about 4% in the afternoon trade on Thursday. More on Meta Meta: Don't Believe The Naysayers That It Has Overbuilt Its Compute Meta: This Stock Is Heating Up Again As Capex Cycle Nears Its Peak Meta Platforms: ...