Dennis Diatel Photography/iStock Editorial via Getty Images Investment Thesis It's been hard to find reasons to buy GameStop ( GME ) in recent years. The turnaround story began as a meme, turned into a cash-accumulation strategy, then a Bitcoin treasury play, and now a potential hostile takeover of eBay ( EBAY ). However, this chaos appears to present a buying opportunity while many investors are ...
Dennis Diatel Photography/iStock Editorial via Getty Images Investment Thesis It's been hard to find reasons to buy GameStop ( GME ) in recent years. The turnaround story began as a meme, turned into a cash-accumulation strategy, then a Bitcoin treasury play, and now a potential hostile takeover of eBay ( EBAY ). However, this chaos appears to present a buying opportunity while many investors are still trying to determine if Ryan Cohen is serious about pursuing eBay. The Q1 financials themselves, which were overshadowed by acquisition news, are beginning to present themselves as very attractive. During Q1, GameStop reported net sales of $835.3 million, an increase of 14% YoY, with record Q1 operating income of $143.3 million. In addition, as of the end of Q1, the company possessed $8.4 billion in cash and marketable securities compared to a market capitalization of ~$9.7 billion. This means investors can purchase all of GameStop’s retail operations along with the company's collectibles division, both now producing genuine operating income, for less than half of what the company’s balance sheet is valued at. The results aren't bad for a supposedly dying business and demonstrate management's ability to turn around businesses, something that could be applied to other potential acquisitions. With these cheap multiples and potential for M&A, I'm rating GameStop a Strong Buy with a 12-month price target of $27.68. The Balance Sheet Story The strongest reason why GameStop appears attractive today is simple math, with $8.4 billion in cash and equivalents, translating into a value of ~$18.75 per share with ~448 million shares outstanding . For every share bought at the current share price of ~$22, investors get roughly $3.25 of value from the operating business, collectibles segment, and acquisition optionality. Author GameStop has consistently built up its cash reserves rapidly, with $2 billion in cash added YoY. The increase in liquidity was largely due to share sales, con...
U.K. pharmaceutical giant GSK on Tuesday struck a $10.6 billion deal to buy U.S.-listed biotech company Nuvalent, its biggest acquisition in eight years as it seeks to bolster the cancer portfolio it had previously trimmed.
U.K. pharmaceutical giant GSK on Tuesday struck a $10.6 billion deal to buy U.S.-listed biotech company Nuvalent, its biggest acquisition in eight years as it seeks to bolster the cancer portfolio it had previously trimmed.
A government investigation into an alleged indecent assault of a four-year-old kindergarten pupil at an international school in Hong Kong’s Stanley has concluded that the claim of child maltreatment was “not established”, drawing the weeks-long probe to a close. The International Montessori School (IMS) welcomed the Social Welfare Department’s conclusion, expressing “immense relief” after going th...
A government investigation into an alleged indecent assault of a four-year-old kindergarten pupil at an international school in Hong Kong’s Stanley has concluded that the claim of child maltreatment was “not established”, drawing the weeks-long probe to a close. The International Montessori School (IMS) welcomed the Social Welfare Department’s conclusion, expressing “immense relief” after going through “a very difficult time” alongside the entire community. In a letter to parents, Timothy Veale,...
If you're getting close to retirement and don't have much savings, there's a harsh reality you might soon need to face: Social Security could end up being your main source of income. And if that's the case, it's important to get as much money out of the program as you can. But there are certain things you might do, or not do, that could cause your Social Security benefits to shrink. Here are a few...
If you're getting close to retirement and don't have much savings, there's a harsh reality you might soon need to face: Social Security could end up being your main source of income. And if that's the case, it's important to get as much money out of the program as you can. But there are certain things you might do, or not do, that could cause your Social Security benefits to shrink. Here are a few scenarios where your checks could end up being smaller than you want them to be. Image source: Getty Images. Continue reading
RerF/iStock via Getty Images Investment Approach Fidelity® Select Technology Portfolio is a sector-based, equity-focused strategy that seeks to outperform its benchmark through active management. We believe the value of technology stocks is in large part determined by the companies' future potential to generate earnings and cash flow. Our investment framework also focuses on identifying themes tha...
RerF/iStock via Getty Images Investment Approach Fidelity® Select Technology Portfolio is a sector-based, equity-focused strategy that seeks to outperform its benchmark through active management. We believe the value of technology stocks is in large part determined by the companies' future potential to generate earnings and cash flow. Our investment framework also focuses on identifying themes that impact the largest end markets, determining potential winners/losers, and how certain companies that are technology disruptors can impact incumbents. The technology sector is a very specialized part of the market, and our experience allows for proficiency in specific domains, aiding in recognizing investment opportunities when they arise. Through bottom-up research and by leveraging Fidelity's vast expertise - in addition to insights from industry experts, technologists, suppliers and competitors - we develop a differentiated view on the fundamentals in seeking to identify companies with compelling risk/reward profiles. Sector strategies could be used by investors as alternatives to individual stocks for either tactical or strategic allocation purposes. Market Review For the first quarter of 2026, the information technology sector returned -7.28%, according to the MSCI U.S. IMI Information Technology 25/50 Index, versus -4.33% for the broad-based S&P 500 index. Growth areas of the market, including technology, lagged value as concern about the viability of artificial intelligence-related investments began to surface and conflict in the Middle East took center stage in late February, sapping a stock market that entered 2026 with positive momentum. The Iran war sent a shockwave through oil markets, with the potential to dampen growth and stoke inflation. As a result, information technology finished with the ninth-best performance among the 11 sectors in the bellwether S&P 500® index. Within the MSCI sector index, the semiconductor materials & equipment group (+31%) stood ou...
European stocks fell after erasing earlier gains late in the trading session, tracking losses in US peers, with noticeable sector rotation. The Stoxx Europe 600 Index retreated 0.5% by the close after gaining as much as 0.9%. There was profit taking on this year’s winning thematics such as energy, mining, telecoms and technology stocks. By contrast, chemicals, food and retail stocks outperformed. ...
European stocks fell after erasing earlier gains late in the trading session, tracking losses in US peers, with noticeable sector rotation. The Stoxx Europe 600 Index retreated 0.5% by the close after gaining as much as 0.9%. There was profit taking on this year’s winning thematics such as energy, mining, telecoms and technology stocks. By contrast, chemicals, food and retail stocks outperformed. In the telecom sector, Ericsson AB and Nokia Oyj tumbled 6.3% and 7%, respectively, on reports of possible competition from Nvidia Corp. on telecom chips. In other stock moves, Unipol Assicurazioni SpA shares advanced 4.7% on expectations the insurer would acquire the Banca Monte dei Paschi di Siena SpA brand and certain assets if Intesa Sanpaolo SpA’s offer for the lender is successful. A day before Intesa’s offer, Banco BPM SpA already pitched a merger of equals with Paschi, without giving a price. Paschi gained 2.6% on Tuesday, with Intesa up 0.9% and Banco BPM rising 1.5%. Read more: Intesa’s Messina Braces for Bidding War Over Monte Paschi The healthcare sector was also in focus. GSK Plc retreated 0.5% after the pharmaceutical firm agreed to buy Nuvalent Inc. in a deal valued at $10.6 billion. AstraZeneca Plc fell 1.2% after its experimental obesity pill delivered 11.8% weight loss in a mid-stage trial. The Middle East conflict remains top of mind, with Brent crude falling to about $90 a barrel after US President Donald Trump renewed his claims of momentum toward ending the war with Iran. Any progress in negotiations will be a positive for Europe ahead of the European Central Bank meeting on Thursday, where policy makers are expected to hike interest rates. “European equity markets benefit from improving risk sentiment globally in addition to M&A talk in the Italian banking sector,” said Wolf Von Rotberg , equity strategist at Bank J Safra Sarasin. “This comes after a period of sustained underperformance in financials over recent months.” For more on equity markets: Sh...
US president says negotiations are in ‘final throes’ and there were no ‘sticking points’ to prevent an agreement being reached Israel and Iran step back from renewed conflict after Trump calls for halt Complex relationship between Trump and Netanyahu continues to undermine Middle East ceasefire The Israeli army’s Arabic-language spokesperson, Avichay Adraee, has issued the latest forced evacuation...
US president says negotiations are in ‘final throes’ and there were no ‘sticking points’ to prevent an agreement being reached Israel and Iran step back from renewed conflict after Trump calls for halt Complex relationship between Trump and Netanyahu continues to undermine Middle East ceasefire The Israeli army’s Arabic-language spokesperson, Avichay Adraee, has issued the latest forced evacuation order for residents of Tyre, Lebanon’s fifth biggest city, ahead of attacks. “Urgent warning to the residents of the city of Tyre, including the Christian quarter, and the camps and surrounding neighbourhoods,” he wrote, urging residents in the southern Lebanese city to “evacuate immediately” and “move north beyond the Zahrani river”. Continue reading...
damedeeso/iStock via Getty Images Overview When I previously covered Hercules Capital ( HTGC ) several quarters ago, I issued a buy rating because of its attractive valuation and portfolio resilience. Since then, we've seen the BDC market continue to deteriorate, and it is becoming more challenging to get a proper read on the sector. Despite the challenges, I believe that HTGC is still one of the ...
damedeeso/iStock via Getty Images Overview When I previously covered Hercules Capital ( HTGC ) several quarters ago, I issued a buy rating because of its attractive valuation and portfolio resilience. Since then, we've seen the BDC market continue to deteriorate, and it is becoming more challenging to get a proper read on the sector. Despite the challenges, I believe that HTGC is still one of the BDCs that are structured to navigate headwinds and provide investors with a secure source of dividend income. Historically, it has been difficult to accumulate shares of HTGC at an attractive valuation. I believe that this most recent pullback has finally given us an opportunity. For instance, HTGC now trades at a premium to NAV of 28.4%. While this seems like a large premium to pay, HTGC has historically traded at a much higher premium to NAV valuation. The large premium is generally a reflection of the market's confidence around HTGC's ability to provide strong earnings over time. For instance, HTGC has traded at an average premium to NAV of 49.36% over the last five years. So referring to the red line below, we can see that HTGC sits at one of the most attractive entry points over the last five years. CEFData.com HTGC now offers investors a starting dividend yield of about 12.3% while issuing those payouts on a quarterly basis. After reviewing the results of the last earnings report, I believe that HTGC's dividend remains well secured by net investment income. Furthermore, management has done a great job at prioritizing new investment activity and aligning the portfolio for future growth. The dividend is well supported by earnings, and non-accruals remain extremely low compared to peers. Q1 Results According to the latest portfolio overview , HTGC now has total investments at a fair value of $4.7B that are spread across a diverse range of debt securities. What I like most about HTGC's structure is that the portfolio leans most heavily on senior secured first lien debt po...
MattGush Waymo ( WAYMO ) has acquired a 5,500-acre autonomous vehicle testing facility in Wittmann, Arizona, from Route 14 Investment Partners, a Delaware entity linked to Apple ( AAPL ), according to property records filed in Maricopa County. The Alphabet-owned self-driving company paid $220M for the proving ground, with the transaction recorded on June 5. Waymo confirmed the acquisition to TechC...
MattGush Waymo ( WAYMO ) has acquired a 5,500-acre autonomous vehicle testing facility in Wittmann, Arizona, from Route 14 Investment Partners, a Delaware entity linked to Apple ( AAPL ), according to property records filed in Maricopa County. The Alphabet-owned self-driving company paid $220M for the proving ground, with the transaction recorded on June 5. Waymo confirmed the acquisition to TechCrunch . The site significantly expands Waymo's testing capabilities and includes a 115-acre urban driving course, a 35-acre vehicle dynamics area, a four-mile high-speed oval track, and a freeway course designed specifically for autonomous vehicle testing A Waymo spokesperson told TechCrunch the facility will be used to simulate driving scenarios in a controlled environment to continuously test and improve the performance of its self-driving system. The Arizona proving ground becomes the largest closed-course testing site in Waymo's network, complementing existing facilities such as Castle Proving Ground in California and the Transportation Research Center in Ohio. Apple acquired the property for $125M in 2021 after leasing the site for years as part of its now-defunct electric car project, known as Project Titan. The facility had previously been used as a test facility for Fiat Chrysler. The acquisition comes as Waymo continues to expand its commercial robotaxi operations in Phoenix and Maricopa County. The company began testing autonomous vehicles in the Phoenix suburb of Chandler in 2017 and has since expanded its services to more than ten U.S. cities, including Los Angeles, the San Francisco Bay Area, Austin, and Atlanta. More on Waymo LLC, Apple Apple: The Wait Was Worth It Wall Street Brunch: SpaceX IPO, WWDC And CPI Apple Reaps AI Benefits Without Capex Burden (Rating Upgrade) Apple begins Siri AI monetization push with iCloud+ subscription Schwab Trading Activity Index rebounds in May