Social media companies should be treated like the tobacco industry, Wes Streeting has argued, as he called for a ban on under-16s accessing certain platforms. Speaking publicly about the prospect of a ban for the first time since he left government, the former health secretary said one was needed because large technology companies were trying to dodge regulations. His intervention comes as the government prepares to close its consultation on an age limit for social media platforms, with ministers expected to make a final decision within weeks. Streeting said: “Social media should be treated like tobacco – it’s extremely addictive, bad for our health, and big tech is borrowing the big tobacco playbook to avoid regulation. We’ve got to give our children their childhood back. “A ban for under-16s must be the start, not the end. We have given the pen to tech moguls to write our future for us. It’s time to take the pen back.” Streeting, who quit the government earlier this month in protest against Keir Starmer’s leadership of the country and the Labour party, was known as one of the strongest advocates for a ban within the cabinet. But he encountered resistance from some colleagues over concerns about whether it would force children on to the dark web or would leave them ill-equipped to use the technology when they reached 16. Ministers have been running a consultation for the last 12 weeks on whether or not to follow the Australian example of setting a strict age limit on access. Other measures could include putting age limits on certain app features such as livestreaming, location sharing and infinite scrolling, where feeds reload automatically and the page never ends. Personalised algorithms, which create a bespoke content feed for users, could also be curbed and mandatory screen curfews are also under consideration. The consultation is also asking whether age restrictions, curbing some features and time limits might be appropriate for certain chatbots. The consultati...

格隆汇5月26日｜欧洲央行管委维勒鲁瓦表示，能源成本的大幅上涨尚未在欧元区其他经济领域引发连锁反应。他在接受《费加罗报》采访时说：“目前我们尚未看到这种外溢效应，但我们对通胀预期上升的风险保持高度警惕。家庭和企业可以相信我们能够在中期将通胀率恢复到2%——如果有必要，我们会毫不犹豫地采取行动来实现这一目标。”维勒鲁瓦将于6月卸任法国央行行长一职，这意味着在6月10日至11日欧洲央行举行会议时，他将不再担任该职位。市场预期此次会议欧洲央行将加息25个基点。

primeimages/E+ via Getty Images DATA AS OF 3/31/26 Calamos Dynamic Convertible and Income Fund Average Annual Returns (%) QTD 1-YEAR 3-YEAR 5-YEAR 10-YEAR SINCE INCEPTION(3/27/15) Calamos Dynamic Convertible and Income Fund Market Price 4.32 12.29 11.91 2.41 13.10 8.99 NAV 3.02 32.70 13.54 2.80 11.54 9.16 Click to enlarge Returns of less than 12 months are cumulative returns. Returns for periods greater than 12 months are annualized returns. Total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. In calculating net investment income, all applicable fees and expenses are deducted from the returns. Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. You can purchase or sell common shares daily. Like any other stock, market price will fluctuate with the market. Upon sale, your shares may have a market price that is above or below net asset value and may be worth more or less than your original investment. Shares of closed-end funds frequently trade at a discount which is a market price that is below their net asset value. *The Fund's most recent distribution payable 4/21/26 was $0.1950 per share. Based on our current estimates, we anticipate that approximately $0.0098 is paid from ordinary income or capital gains and $0.1852 of the distribution represents a return of capital. Estimates are calculated on a tax basis rather than on a generally accepted accounting principles (GAAP) basis but should not be used for tax reporting purposes. Distributions are subject to re-characterization for tax purposes afte...

Zhanna Hapanovich/iStock via Getty Images Nomura National High-Yield Municipal Bond Fund Institutional Class shares outperformed the Fund’s benchmark by 7 basis points, returning -0.11% versus -0.18% for its benchmark, the Bloomberg Municipal Bond Index, for 1Q26. Nomura National High-Yield Municipal Bond Fund Institutional Class shares underperformed the median return within its Lipper peer group (High Yield Municipal Debt Funds) by 26 basis points. Average annual total returns (%) as of March 31, 2026 Share Class 1Q26 1 YTD 1 1 year 3 year 5 year 10 year Lifetime Inception date Expense ratio Gross Net 2 Institutional -0.11 -0.11 0.59 3.87 0.94 3.13 6.26 12/31/2008 0.60% 0.60% A (at NAV) -0.08 -0.08 0.50 3.64 0.70 2.89 5.51 A (at Offer) 3 -4.60 -4.60 -4.01 2.05 -0.23 2.42 5.39 09/22/1986 0.85% 0.85% Bloomberg Municipal Bond Index -0.18 -0.18 4.29 2.87 0.84 2.16 — Lipper High Yield Municipal Debt Funds Average (median) 0.15 0.15 3.07 4.20 0.87 2.59 — Click to enlarge 1. Returns for less than one year are not annualized. 2. Expenses are from the Fund's prospectus that is effective as of the date of this commentary indicated above. 3. Includes maximum 4.50% upfront sales charge. For Class A shares, a 1% contingent deferred sales charge is only imposed on certain Class A shares that are purchased at net asset value (NAV) for $250,000 or more that are subsequently redeemed within 18 months of purchase. The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 800 523-1918 or visiting nomuraassetmanagement.com/performance . Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor (as applicable) for...

即将卸任的欧洲央行管委Francois Villeroy de Galhau表示，能源成本飙升尚未在欧元区经济中的其他领域引发第二轮效应。 “到目前为止，我们尚未看到这种溢出效应，但我们对通胀预期上升的风险保持高度警惕，”他在接受采访时表示，“家庭和企业可以相信我们会在中期内让通胀率回到2% —— 如有必要，我们会毫不犹豫地采取行动来实现这一目标。” Villeroy将于6月卸任法国央行行长。这意味着，当欧洲央行利率制定者6月10-11日在法兰克福召开会议时，他将不再任职。市场普遍预计欧洲央行届时将把借贷成本上调25个基点。 责任编辑：丁文武

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Key Points Strategy, formerly known as MicroStrategy, buys Bitcoin by issuing equity and borrowing through convertible bonds. When trading at a premium to its underlying crypto holdings, Strategy can deliver superior returns compared to Bitcoin. Strategy is only worth considering if you're bullish on Bitcoin and have a high risk tolerance. 10 stocks we like better than Strategy › Originally a software company, Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, is now almost entirely a Bitcoin (CRYPTO: BTC) treasury company. The software business generated just $124 million of revenue in the first quarter of 2026. The 843,738 BTC it has accumulated, on the other hand, are worth about $65 billion (as of May 19). Debt is one of the ways Strategy buys Bitcoin, making it a leveraged Bitcoin investment. The approach has drawn criticism, but it has delivered positive results. Over the last five years, Strategy has outperformed Bitcoin by a wide margin, with returns of 262% compared to 79% for Bitcoin. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Whether Strategy is a good investment today depends primarily on your risk tolerance. How Strategy works Michael Saylor, executive chairman of Strategy, developed a complex financial engineering strategy to accumulate as much Bitcoin as possible. When Strategy trades at a premium to the value of its underlying Bitcoin, it can issue new shares to buy more Bitcoin. Shareholders get diluted, but the idea is that the Bitcoin purchase adds more value than the dilution costs. When Strategy trades near or below the value of its Bitcoin holdings, as it has for most of 2026, it can issue preferred shares under different tickers. It issues four types of preferred shares that offer shareholders predictable income. Three preferred stocks pay fixed dividends ranging...

Exiled Belarusian opposition leader Sviatlana Tsikhanouskaya visited Kyiv on Monday following weeks of mounting warnings from Ukrainian officials about Russian plans to draw Minsk more deeply into the war against Ukraine. Tsikhanouskaya arrived a day after one ‌of the war’s biggest strikes on the Ukrainian capital killed four people and damaged historical sites, and amid Russian threats to launch further heavy attacks on Kyiv. Tsikhanouskaya, an opponent of Belarus’ President Alexander Lukashenko, a close ally of Moscow, said only a democratic Belarus could become a source of stability and security in the region. Advertisement “Lukashenko’s rhetoric is shifting: we are preparing for war, of course, we want peace, but we are gearing ⁠up for war. And that, of course, is very alarming for people,” she told reporters after meeting Ukraine’s Foreign ‌Minister Andrii Sybiha, on what she said was her first “working visit” to Kyiv. Ukrainian President Volodymyr Zelensky has recently warned of Belarus becoming more involved in Russia’s full-scale war, now well into ‌its fifth year. Advertisement He said Ukraine would strengthen its northern defences in preparation for any ⁠possible new Russian offensive, including ⁠from Belarusian territory.

Image source: The Motley Fool. Tuesday, August 5, 2025 at 4:30 p.m. ET CALL PARTICIPANTS Chief Executive Officer — William Gordon Stone Chief Financial Officer — Stephen Andrew Lasher Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Total Revenue -- $130.9 million, reflecting 11% growth year over year. -- $130.9 million, reflecting 11% growth year over year. Segment Revenue: On Device Solutions (ODS) -- $95.4 million, up 18% year over year, led by stronger device volumes and revenue per device (RPD), especially internationally. -- $95.4 million, up 18% year over year, led by stronger device volumes and revenue per device (RPD), especially internationally. Segment Revenue: Application Growth Platform (AGP) -- $36.3 million, representing a 5% decline year over year but a 9% sequential increase from the March quarter, indicating early signs of stabilization. -- $36.3 million, representing a 5% decline year over year but a 9% sequential increase from the March quarter, indicating early signs of stabilization. Adjusted EBITDA -- $25.1 million, an increase of 73% year over year, marking the highest quarterly result since 2023. -- $25.1 million, an increase of 73% year over year, marking the highest quarterly result since 2023. Free Cash Flow -- $1.4 million, improving by approximately $7 million year over year. -- $1.4 million, improving by approximately $7 million year over year. Non-GAAP Gross Margin -- 47%, up more than 100 basis points compared to the prior year. -- 47%, up more than 100 basis points compared to the prior year. Gross Profit -- $62 million, indicating 14% year-over-year growth. -- $62 million, indicating 14% year-over-year growth. Cash Operating Expenses -- $36.8 million, down 8% year over year. -- $36.8 million, down 8% year over year. GAAP Net Loss -- $14.1 million, or $0.13 per share. -- $14.1 million, or $0.13 per share. Non-GAAP Net Income -- $5.8 million, or $0.05 per share, based on 110 million shares outstanding. -- $5...

Image source: The Motley Fool. Monday, November 3, 2025 at 4:30 p.m. ET CALL PARTICIPANTS President and Chief Executive Officer — Lee D. Rudow Chief Financial Officer — Thomas P. Barbato Director of Investor Relations — John Howe TAKEAWAYS Consolidated Revenue -- $82.3 million, up 21% due to double-digit growth in both service and distribution segments. -- $82.3 million, up 21% due to double-digit growth in both service and distribution segments. Service Revenue -- Increased 20% and marked the 66th straight quarter of year-over-year growth. -- Increased 20% and marked the 66th straight quarter of year-over-year growth. Distribution Revenue -- $29.4 million, up 24% primarily from high rental channel demand. -- $29.4 million, up 24% primarily from high rental channel demand. Gross Profit -- $26.8 million, up 26% with consolidated gross margin expansion of 120 basis points. -- $26.8 million, up 26% with consolidated gross margin expansion of 120 basis points. Distribution Gross Margin -- Expanded 530 basis points, driven mainly by the higher-margin rental channel. -- Expanded 530 basis points, driven mainly by the higher-margin rental channel. Adjusted EBITDA -- $12.1 million, up 37% with 160 basis points of margin expansion. -- $12.1 million, up 37% with 160 basis points of margin expansion. Q2 Net Income -- $1.3 million, decreased by $2 million due to higher interest expense and rising effective tax rate, including onetime CEO succession costs. -- $1.3 million, decreased by $2 million due to higher interest expense and rising effective tax rate, including onetime CEO succession costs. Diluted EPS -- $0.14, with adjusted diluted EPS at $0.44 after excluding acquisition and CEO succession related expenses. -- $0.14, with adjusted diluted EPS at $0.44 after excluding acquisition and CEO succession related expenses. Operating Cash Flow -- Increased 5%, with capital expenditures concentrated in service capabilities, rental pool assets, technology, and growth projects. -- ...

August Reigning champions Liverpool left it late to beat Bournemouth 4-2 on the opening day of the season in their first league game back at Anfield following the death of Diogo Jota. The Reds also squeaked past Newcastle thanks to Rio Ngumoha and then Arsenal, after Dominik Szoboszlai’s stunning free-kick, which won goal of the month. Meanwhile, Manchester City lost 2-0 at home to Tottenham and 2-1 away to Brighton, Everton christened their new home, Hill Dickinson Stadium, with a win, and Sunderland made a strong start on their return to the top flight with two wins from three. View image in fullscreen 15 August Fans remember Diogo Jota, who died in a car crash last summer, with tributes near Anfield. Photograph: Adam Vaughan/EPA View image in fullscreen 16 August Martin Dubravka of Burnley cannot reach a strike by Richarlison at Tottenham Hotspur Stadium. Photograph: Justin Setterfield/Getty View image in fullscreen 16 August Diego Gómez of Brighton gets shirty during the 1-1 draw with Fulham. Photograph: Mike Hewitt/Getty View image in fullscreen 17 August Riccardo Calafiori scores for Arsenal against Manchester United at Old Trafford. Photograph: Robbie Jay Barratt/AMA/Getty View image in fullscreen 17 August Nottingham Forest’s Ola Aina wrestles with Caoimhin Kelleher of Brentford. Photograph: Alex Pantling/Getty View image in fullscreen 17 August Chris Wood of Nottingham Forest celebrates a goal against Brentford with Murillo (top) and Ibrahim Sangaré. Photograph: Ritchie Sumpter/Nottingham Forest FC/Getty View image in fullscreen 17 August Pedro Neto lambasts the assistant referee during Chelsea’s goalless draw with Crystal Palace. It would prove to be a frustrating season for the Blues. Photograph: Chelsea Football Club/Chelsea FC/Getty View image in fullscreen 24 August Iliman Ndiaye of Everton scores the first goal at the Hill Dickinson Stadium. Photograph: Tom Jenkins/The Guardian View image in fullscreen 25 August Rio Ngumoha wheels away after scoring a...

PayPal Holdings (PYPL 0.11%) has long been one of the leaders in the payments industry. It's a scaled platform, with 439 million active accounts and $464 billion in total payment volume (TPV) during the first quarter. But this fintech stock has tanked 24% in 2026 (as of May 21), while the broader S&P 500 index is up 9%. And it trades a gut-wrenching 86% below its record from July 2021, as investors grapple with what is now a slower-growth business. Should you buy, sell, or hold PayPal stock? Financial performance has started to weaken Since PayPal reported its financial results for Q1 on May 5 before the market opened, shares have dipped 12%. The market might not be happy with 2% TPV growth in Q1 for online branded checkout. This is a critical segment for PayPal, as it helps to differentiate the company from competitors and can be more profitable than other parts of the business. The first quarter's results come after a disappointing showing for the last three months of 2025, when online branded checkout posted just 1% growth. And speaking of earnings, they have come under pressure. CEO Enrique Lores, who took over from Alex Chriss on March 1, will focus on heavy investments to bolster PayPal's technological infrastructure. The company's adjusted operating margin was 18.4% in the first quarter, down from 20.7% in the year-ago period. Adjusted operating income fell 5% year over year to $1.5 billion. The leadership team expects adjusted earnings per share to decline 9% in the current quarter. Expand NASDAQ : PYPL PayPal Today's Change ( -0.11 %) $ -0.05 Current Price $ 44.25 Key Data Points Market Cap $39B Day's Range $ 43.99 - $ 44.71 52wk Range $ 38.46 - $ 79.50 Volume 351.7K Avg Vol 18.2M Gross Margin 41.43 % Dividend Yield 0.63 % Here's what investors should do with this fintech stock PayPal's valuation has become extremely difficult to overlook. Investors have the opportunity right now to buy shares at a forward price-to-earnings ratio of 8.4. This is at a time w...

Shares of D-Wave Quantum QBTS struggled from January to mid-May, falling 32.3% amid the uncertainty surrounding its pace of commercialization, uneven revenue recognition and rising competition across quantum computing. However, the sentiment changed sharply after the first-quarter 2026 release on May 19. Investors focused on record bookings growth of nearly 2,000% year over year, a rapidly expanding pipeline and remaining performance obligations jumping 563% to $42.4 million. Since the first-quarter earnings release on May 19, the stock has gained 61.6% compared with the sector’s 2.3% rise. Image Source: Zacks Investment Research 3 Factors Driving the Sharp Rally of D-Wave Stock Record Bookings: As stated earlier, the biggest catalyst was D-Wave’s explosive bookings growth. First-quarter bookings surged 1,994% year over year to a record $33.4 million, supported by a $20 million system sale to Florida Atlantic University and a $10 million two-year QCaaS agreement with a Fortune 100 company. Remaining performance obligations climbed 563% year over year to $42.4 million, providing investors with improved future revenue visibility. The company also said its sales pipeline more than doubled sequentially during the quarter. In the near term, revenue conversion from backlog, timing of system deliveries and whether D-Wave can sustain momentum in enterprise QCaaS contracts will be crucial. QBTS expects a substantial portion of 2026 revenues to be recognized in the second half of the year. Quantum Circuits Acquisition: Another major driver was growing confidence in D-Wave’s dual-platform strategy after its acquisition of Quantum Circuits. This has positioned the company as the only quantum computing firm with both annealing and gate-model systems. The company unveiled a roadmap targeting approximately 175 physical qubits by 2028, 10 logical qubits by 2030 and 100 logical qubits by 2032. Expanding Real-World Use Cases in AI and Blockchain: The rally was also fueled by evidence...

当地时间25日晚，伊朗总统佩泽希齐扬下令恢复伊朗互联网至今年1月大规模断网前的状态。（央视） 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

Mohamad Faizal Bin Ramli/iStock via Getty Images Fund performance The equity portion of the Fund fell (gross of fees) and underperformed its benchmark. 1 Expense ratios Fiscal year ended September 30 (%) Annual Expenses Percent of Net Assets Percent of Managed Assets Management Fees 1.27 1.00 Other Expenses 0.19 0.15 Fee Waiver 0.00 0.00 Operating Expenses (net of fee waiver) 1.46 1.15 Leverage Costs 1.53 1.21 Total Expenses (net of fee waiver) 3.00 2.36 Total Expenses before Fee Waiver 3.00 2.36 Click to enlarge Effective upon the close of business on October 27, 2023, the Adviser entered into a written contract with the Fund to limit the total ordinary operating expenses of the Fund (excluding leverage costs, interest, taxes, brokerage commissions, acquired fund fees and expenses and any non-routine expenses) from exceeding 1.51% of the average daily net assets of the Fund on an annualized basis for two years (the "Expense Limitation Agreement"). The Expense Limitation Agreement terminated on October 27, 2025. During the fiscal year ended September 30, 2025, the Adviser did not waive any Fund's expenses pursuant to the Expense Limitation Agreement. Performance The latest available performance figures have been calculated net-of-fees in U.S. dollars for the period: Cumulative and annualized total return as of March 31, 2026 (%) NAV Market price Quarter to date -5.70 -6.08 Year to date -5.70 -6.08 1 year 19.79 13.92 3 years (p.a.) 10.10 6.36 5 years (p.a.) 6.50 5.99 10 years (p.a.) 8.21 9.11 Since inception (p.a.) 6.22 5.54 Click to enlarge Past Performance is no guarantee of future results. Investment returns and principal value will fluctuate and shares, when sold, may be worth more or less than original cost. Current performance may be lower or higher than the performance quoted. NAV return data includes investment management fees, custodial charges and administrative fees (such as Director and legal fees) and assumes the reinvestment of all distributions. abrdn ...

Lenovo ThinkPad with AMD Ryzen 5 Pro drops under $350 thanks to huge refurbished discount Notebookcheck

Image source: The Motley Fool. Tuesday, Feb. 3, 2026 at 4:30 p.m. ET CALL PARTICIPANTS President and CEO — Lee D. Rudow Chief Financial Officer — Thomas D. Barbato Senior Director of Financial Planning and Analysis — John Howe TAKEAWAYS Consolidated revenue -- $83.9 million, up 26%, driven by double-digit segment growth. -- $83.9 million, up 26%, driven by double-digit segment growth. Service segment revenue -- 29% growth, with organic growth at 7%; remainder attributable to Martin Calibration and Essco Calibration acquisitions. -- 29% growth, with organic growth at 7%; remainder attributable to Martin Calibration and Essco Calibration acquisitions. Distribution segment revenue -- $30.2 million, up 20%, led by both product sales and rentals. -- $30.2 million, up 20%, led by both product sales and rentals. Gross profit -- $25.3 million, reflecting a 28% increase and a gross margin expansion of 60 basis points. -- $25.3 million, reflecting a 28% increase and a gross margin expansion of 60 basis points. Distribution gross margin -- Expanded 330 basis points, primarily due to higher rental mix. -- Expanded 330 basis points, primarily due to higher rental mix. Adjusted EBITDA -- $10.1 million, up 27.2%, with 10 basis points of margin expansion, reflecting performance excluding onetime costs. -- $10.1 million, up 27.2%, with 10 basis points of margin expansion, reflecting performance excluding onetime costs. Service margins -- Declined due to start-up costs from onboarding new customers, expected to normalize over coming quarters. -- Declined due to start-up costs from onboarding new customers, expected to normalize over coming quarters. Net loss -- $1.1 million, attributed to higher amortization expense from large acquisitions, increased interest expense, and CEO succession plan onetime charges. -- $1.1 million, attributed to higher amortization expense from large acquisitions, increased interest expense, and CEO succession plan onetime charges. Adjusted diluted earnings...

Source: Bloomberg, 4:40

Image source: The Motley Fool. March 17, 2026 at 8:30 p.m. ET CALL PARTICIPANTS Chief Executive Officer — Haisheng Wu Chief Financial Officer — Zuoli Xu Chief Risk Officer — Yan Zheng TAKEAWAYS Total Loan Facilitation and Origination Volume -- RMB 70.3 billion, down 21.8% year over year, mainly attributed to tightened liquidity after new loan facilitation rules in Q4. -- RMB 70.3 billion, down 21.8% year over year, mainly attributed to tightened liquidity after new loan facilitation rules in Q4. Non-GAAP Net Income (Q4) -- RMB 1.07 billion, a 45.7% decrease year over year, driven by lower loan volumes and deleveraging in operations. -- RMB 1.07 billion, a 45.7% decrease year over year, driven by lower loan volumes and deleveraging in operations. Non-GAAP Earnings per Fully Diluted ADS (Q4) -- RMB 8.23, down 39.8% year over year, reflecting share count reduction and earnings pressure. -- RMB 8.23, down 39.8% year over year, reflecting share count reduction and earnings pressure. Non-GAAP Net Income (Full Year) -- RMB 6.35 billion, down 1% year over year, showing resilience despite sector-wide challenges. -- RMB 6.35 billion, down 1% year over year, showing resilience despite sector-wide challenges. Non-GAAP EPADS (Full Year) -- RMB 46.8, up 10.4% year over year, driven by significant share repurchases. -- RMB 46.8, up 10.4% year over year, driven by significant share repurchases. Total Loan Volume Facilitated (Full Year) -- RMB 327.1 billion, a 1.6% increase year over year. -- RMB 327.1 billion, a 1.6% increase year over year. C2M2 Ratio (Q4) -- 0.97%, the highest since 2020, indicating elevated delinquency rates after 30 days of collection activities. -- 0.97%, the highest since 2020, indicating elevated delinquency rates after 30 days of collection activities. Risk Indicators for New Loans -- FPD 30 declined approximately 18% sequentially from Q3 to Q4, and FPD 30 for December vintages approached two-year historical lows. -- FPD 30 declined approximately 18% sequen...

Image source: The Motley Fool. Nov. 18, 2025 at 7:30 p.m. ET CALL PARTICIPANTS Chief Executive Officer — Haisheng Wu Chief Financial Officer — Zuoli Xu Head of Investor Relations — Karen Ji TAKEAWAYS Total loan facilitation & origination volume -- RMB 83.3 billion, essentially flat sequentially, showing stability despite macro headwinds. -- RMB 83.3 billion, essentially flat sequentially, showing stability despite macro headwinds. Non-GAAP net income -- RMB 1.51 billion, indicating maintained profitability under challenging conditions. -- RMB 1.51 billion, indicating maintained profitability under challenging conditions. Non-GAAP net income per ADS (fully diluted) -- RMB 11.36 compared to RMB 13.63 in the second quarter (ended June 30, 2025) and RMB 12.35 year over year, emphasizing sequential and annual decline. -- RMB 11.36 compared to RMB 13.63 in the second quarter (ended June 30, 2025) and RMB 12.35 year over year, emphasizing sequential and annual decline. Total net revenue -- RMB 5.21 billion versus RMB 5.22 billion in the second quarter (ended June 30, 2025) and RMB 4.37 billion year over year, highlighting minimal change sequentially but notable annual growth. -- RMB 5.21 billion versus RMB 5.22 billion in the second quarter (ended June 30, 2025) and RMB 4.37 billion year over year, highlighting minimal change sequentially but notable annual growth. Credit-driven service revenue (capital heavy) -- RMB 3.87 billion versus RMB 3.57 billion in the second quarter (ended June 30, 2025) and RMB 2.9 billion year over year, reflecting a rising contribution from this business mix. -- RMB 3.87 billion versus RMB 3.57 billion in the second quarter (ended June 30, 2025) and RMB 2.9 billion year over year, reflecting a rising contribution from this business mix. Platform service revenue (capital light) -- RMB 1.34 billion versus RMB 1.65 billion in the second quarter (ended June 30, 2025) and RMB 1.47 billion year over year, showing a decrease both sequentially and annu...

德国《商报》援引欧盟委员会消息人士称，欧盟计划对Alphabet旗下 谷歌 处以高达数亿欧元的罚款，作为一项反垄断调查的一部分。 该报称，相关裁决已接近完成，预计将在夏季休会前正式公布，并补充说，这将是欧盟因违反新《数字市场法案》（DMA）而开出的最高金额罚单。 此项调查于2025年3月正式启动，涉及对谷歌在搜索结果中偏袒自身服务的担忧，旨在确保这一全球最受欢迎的互联网搜索引擎遵守当地法规。 欧盟委员会发言人托马斯·雷尼耶在一份电子邮件声明中表示，比起“简单地开出罚单”，委员会更希望与谷歌找到未来合规的解决方案。 “即使我们正就未来解决方案进行谈判，我们也会毫不犹豫地尽快推进下一步措施，”他补充道。 本月早些时候，欧盟委员会曾表示，在谷歌此前提出的方案未达要求后，已给予其稍多一点时间来消除顾虑。 责任编辑：丁文武

TSM: Huawei Explores New Ways to Compete with Taiwan Semiconduct GuruFocus

laddawan punna/iStock via Getty Images Anthony Philipp Portfolio Manager Chris Welch, CFA Portfolio Manager Kristen Sheffield, CFA, CIPM Portfolio Specialist Market and portfolio review The quarter was characterized by increased volatility driven by a combination of geopolitical developments and evolving expectations around artificial intelligence (AI). Escalating tensions in the Middle East and the associated rise in oil prices added to macro uncertainty and shifting interest rate expectations, while ongoing debate around AI's long-term implications — particularly disruption risks — continued to influence market leadership. Performance across the cap spectrum was mixed. Despite a sharp selloff in March, smaller-cap stocks maintained relative outperformance year to date with the Russell 2000 up 0.89% versus a 4.18% decline for the Russell 1000, while mid caps led overall, with the Russell Midcap returning 1.29% in Q1. From a sector perspective, energy was far and away the best-performing sector, advancing 38% as oil prices rose sharply due to supply concerns following the closure of the Strait of Hormuz; materials followed in a distant second (+11.2%) and utilities (+9%) in third. Communication services (-11%) was the weakest-performing sector in Q1. Financials followed (-10%), pressured by macro and interest rate uncertainty as well as concerns around potential AI-driven disruption impacting financial and consulting services. Health care (-7%) and consumer discretionary (-6.3%) also lagged, as investor sentiment weakened amid rising costs and a more uncertain consumer outlook. The ongoing digestion of the long-term impacts of AI-related dynamics continued to be a strong theme in the quarter, and we saw both headwinds and tailwinds for the portfolio. While our top two contributors during the quarter are both beneficiaries of the ongoing AI buildout, there are several stocks within the index that we do not own and have performed quite well, including SanDisk (+168%),...

There aren't too many investors better than Stanley Druckenmiller. The now-billionaire launched his own fund, Duquesne Capital, in 1981 and proceeded to absolutely crush the market over the next three decades, generating incredible average annual returns of over 30%, without a single year in the red. He shuttered the fund in 2010, and today, he focuses on managing his family's wealth out of the Duquesne Family Office. Given that he had such a storied career, retail investors are always interested to see what Druckenmiller is buying and selling in any given quarter. In the first quarter of 2026, he made a lot of moves. Among them, he completely closed his position in Alphabet (a stake worth just over $120 million as of the end of 2025) and opened new positions in two stocks that are direct bets on agentic artificial intelligence (AI). Exiting Alphabet after a spectacular run Druckenmiller took his gains on Alphabet, the parent company of Google, after what's been a spectacular run. If I had to guess, Druckenmiller is likely taking gains due to Alphabet's valuation, which has gone from under 15 times forward earnings in early 2025 to about 27 times now. Alphabet was viewed as the value play in the "Magnificent Seven" last year, but the company overcame virtually every obstacle thrown its way. The U.S. Department of Justice sued it, accusing the tech giant of using anticompetitive practices in its digital advertising and search businesses, and a federal judge ultimately agreed. However, the judge stopped short of granting Justice's request for a punishment that involved compelling Alphabet to divest itself of its popular Chrome web browser. Meanwhile, Alphabet demonstrated that its Gemini large language models (LLMs) could compete with the best rival models on the market, giving investors confidence in the company's ability to maintain its dominant market share in traditional digital search. While there are still some longer-term concerns about how AI will impact tradi...

Key Points After launching his hedge fund in 1981, Stanley Druckenmiller delivered staggering returns for three decades. In Q1, his Duquesne Family Office unloaded its position in Alphabet after the stock's strong run. In the same period, Druckenmiller made bets on another aspect of the artificial intelligence (AI) trade. 10 stocks we like better than Intel › There aren't too many investors better than Stanley Druckenmiller. The now-billionaire launched his own fund, Duquesne Capital, in 1981 and proceeded to absolutely crush the market over the next three decades, generating incredible average annual returns of over 30%, without a single year in the red. He shuttered the fund in 2010, and today, he focuses on managing his family's wealth out of the Duquesne Family Office. Given that he had such a storied career, retail investors are always interested to see what Druckenmiller is buying and selling in any given quarter. In the first quarter of 2026, he made a lot of moves. Among them, he completely closed his position in Alphabet (a stake worth just over $120 million as of the end of 2025) and opened new positions in two stocks that are direct bets on agentic artificial intelligence (AI). Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Exiting Alphabet after a spectacular run Druckenmiller took his gains on Alphabet, the parent company of Google, after what's been a spectacular run. If I had to guess, Druckenmiller is likely taking gains due to Alphabet's valuation, which has gone from under 15 times forward earnings in early 2025 to about 27 times now. Alphabet was viewed as the value play in the "Magnificent Seven" last year, but the company overcame virtually every obstacle thrown its way. The U.S. Department of Justice sued it, accusing the tech giant of using anticompetitive practices in its ...

Richard Drury/DigitalVision via Getty Images Key Takeaways Markets: Global equities collectively declined over the first quarter of 2026, with the MSCI All Country World Index falling for the period, as a sharp drawdown in March more than offset gains earlier in the period. Detractors: The fund (Advisor Class without sales charges) underperformed its benchmark, the MSCI All Country World Index-NR, for the quarter, primarily due to stock selection and an overweight in the health care sector, stock selection and an underweight in the consumer staples sector and stock selection in the materials sector. Contributors: Stock selection and underweights in the information technology and financials sectors and an underweight in the consumer discretionary sector contributed to relative performance for the quarter. Outlook: Our focus remains on selectively deploying capital into high-quality businesses that we believe have been indiscriminately sold off but retain strong long-term fundamentals. Performance Review Global equities collectively declined over the first quarter of 2026, with the MSCI All Country World Index falling for the period, as a sharp drawdown in March more than offset gains earlier in the period. Market performance was influenced by a significant rotation in leadership, with value outperforming growth and smaller-capitalization stocks holding up better than large caps. As measured by MSCI indexes in US-dollar terms, global value stocks generally rose, materially outperforming global growth stocks, which fell significantly, while global small caps delivered positive returns despite the broader market decline. This shift reflected a sustained move away from US mega-cap concentration and long-duration growth assets. The quarter unfolded in three distinct phases: an initial rotation-driven rally in January, followed by heightened dispersion and AI-related uncertainty during February, and culminating in a sharp risk-off environment in March driven by geopolitica...

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@media (max-width: 768px) { .image-container { width: 100% !important; float: none !important; margin: 0 0 1rem 0 !important; } } Image source: The Mo