"The year of the IPO is definitely on," Martin Brand, head of Blackstone Capital Partners, says while speaking with Bloomberg's Dani Burger at the SuperReturn International Conference in Berlin. (Source: Bloomberg)
"The year of the IPO is definitely on," Martin Brand, head of Blackstone Capital Partners, says while speaking with Bloomberg's Dani Burger at the SuperReturn International Conference in Berlin. (Source: Bloomberg)
Football's (not the American variety) biggest tournament, starts on June 11. Combine the magnitude of the event with the expanded field of 48 teams and North America being the host, and it's reasonable that some investors are scoping out sports betting stocks . Predictably, that search will lead many market participants to DraftKings (NASDAQ: DKNG) and Flutter Entertainment (NYSE: FLUT) , the owne...
Football's (not the American variety) biggest tournament, starts on June 11. Combine the magnitude of the event with the expanded field of 48 teams and North America being the host, and it's reasonable that some investors are scoping out sports betting stocks . Predictably, that search will lead many market participants to DraftKings (NASDAQ: DKNG) and Flutter Entertainment (NYSE: FLUT) , the owner of FanDuel, but caution is warranted here. Some experts estimate the U.S. betting handle, which is the total amount wagered on an event in dollar terms, on the soccer competition will be $3.1 billion. The number could rise depending on the U.S. team's success. These two betting stocks could be World Cup winners. Image source: Getty Images. Continue reading
Oil Prices Extend Gains After Another Big Crude Draw, Cushing 'Tank Bottoms' Loom Oil prices are higher this morning on renewed fighting between the US and Iran (and Trump rhetoric ), while API reported a major crude inventory draw (for an eighth week in a row). Additionally, in its monthly Short-Term Energy Outlook released on Tuesday, the Energy Information Administration (EIA) reported the clos...
Oil Prices Extend Gains After Another Big Crude Draw, Cushing 'Tank Bottoms' Loom Oil prices are higher this morning on renewed fighting between the US and Iran (and Trump rhetoric ), while API reported a major crude inventory draw (for an eighth week in a row). Additionally, in its monthly Short-Term Energy Outlook released on Tuesday, the Energy Information Administration (EIA) reported the closure of the Strait is depleting global inventories, keeping prices high . "Global oil markets remain highly volatile as very limited shipping traffic through the Strait of Hormuz has caused oil producers in the Middle East to reduce crude oil production by more than 11 million barrels per day (b/d) in May compared with pre-conflict levels. This drop in production has resulted in large global inventory draws to meet demand. Under our assumptions, we expect global oil inventories will fall by an average of 6.3 million b/d in 2Q26 and by 7.6 million b/d in 3Q26," the agency said. So this morning, all eyes are on the official data to see just how fast those inventories are depleting... API Crude -9.1MM Cushing -1.1MM Gasoline -1.2MM Distillates +1.3MM DOE Crude -7.23mm Cushing -801k Gasoline +186k Distillates -200k Following API's reported a huge crude draw, the official data showed a seventh straight week of crude inventory declines. Gasoline stocks saw a build for the second week in a row... Source: Bloomberg Cushing 'tank bottoms' are looming... Source: Bloomberg US gasoline stocks are barely off their lowest levels since 2014 for this time of year... Source: Bloomberg The Strategic Petroleum Reserve saw another huge drawdown this week for a total of 66.2 million barrels since the Iran 'mini-war' started (16% of the pre-war total)... Source: Bloomberg Rig counts continue to rise with US crude production just shy of record highs... Source: Bloomberg US crude and product exports dipped last week but remain notably elevated from pre-war levels... Source: Bloomberg WTI was hoveri...
Mykhailo Repuzhynskyi/iStock via Getty Images Introduction Back when I last covered The J. M. Smucker Company ( SJM ), I upgraded them to Buy, titling the article "This Dividend Aristocrat's Turnaround Is Brewing With Elliott's Backing," highlighting their solid and attractive dividend yield while navigating a tough macro landscape, recently attracting Elliott Management's activist involvement. Fo...
Mykhailo Repuzhynskyi/iStock via Getty Images Introduction Back when I last covered The J. M. Smucker Company ( SJM ), I upgraded them to Buy, titling the article "This Dividend Aristocrat's Turnaround Is Brewing With Elliott's Backing," highlighting their solid and attractive dividend yield while navigating a tough macro landscape, recently attracting Elliott Management's activist involvement. Following a strong earnings report that resulted in a ~10% jump in price on the same day, SJM remains a Buy, as the company is taking important steps towards a turnaround, with potential to see a re-rating, especially once the broader consumer environment improves. Navigating Tough Waters Well J. M. Smucker Company IR J. M. Smucker reported a strong Q4'FY26, with a slight beat on the market's top- and bottom-line estimates thanks to higher pricing, which accounted for 10 percentage points of the 6% increase in net sales (mostly related to coffee and sweet baked goods) while volumes fell by 4%. Meanwhile, the free cash flow reached a strong $483.9 million during the quarter (vs. $298.9 million a year ago) and ~$1.156 billion in FY26 (vs. $816.6 million in FY25), which remains very solid for a ~$10.85 billion market cap - while also repaying a very strong $720 million during the fiscal year. J. M. Smucker Company IR For FY27, J. M. Smucker expects net sales to fall between 3% and 4% (1% drop in volume/mix, 2% drop in net price realization), with the Adj. EPS is reaching $9.75 to $10.25 (vs. $9.15 in FY26) - assuming 107 million weighted-average common shares outstanding - while the CAPEX would reach $325 million (vs. $317.4 million in FY26), for an FCF of $1.0 billion at midpoint compared to FY26's ~$1.156 billion. J. M. Smucker Company IR Financially, based on SJM's latest report , we continue to see the company working on improving its position, with their net debt to EBITDA reaching 3.8x TTM (vs. 3.6x a year ago), although they're targeting ~3x leverage by year-end (fiscal),...
Alex Karp Touts Palantir's Maven System Citing American Successes In Iran War, Venezuela Intervention — 'It Was Not Possible To Do These Things…’ Stocktwits
Alex Karp Touts Palantir's Maven System Citing American Successes In Iran War, Venezuela Intervention — 'It Was Not Possible To Do These Things…’ Stocktwits
Prenetics Global ( PRE ) on Wednesday reported first-quarter revenue of $36M and raised its 2026 IM8 revenue forecast to $190M-$210M from $180M-$200M, citing strong demand for its health supplements brand. The company said IM8 revenue rose 23% sequentially to $33.8M in the reported quarter and reached a record $16.7M in May, implying about $200M in annualized recurring revenue. It expects second-q...
Prenetics Global ( PRE ) on Wednesday reported first-quarter revenue of $36M and raised its 2026 IM8 revenue forecast to $190M-$210M from $180M-$200M, citing strong demand for its health supplements brand. The company said IM8 revenue rose 23% sequentially to $33.8M in the reported quarter and reached a record $16.7M in May, implying about $200M in annualized recurring revenue. It expects second-quarter revenue of $46M-$48M. The company reported a $23.1M loss for the reported quarter. Prenetics also said it fully exited its digital asset holdings for $41.3M, ended March debt-free with $56M in cash, and appointed supplements industry veteran Brian Rosin as CFO of IM8. The company plans to launch new hydration, creatine, and kids' gummies products in the fourth quarter. Stock down -8% More on Prenetics Global Prenetics Global: Quarterly Subscription Focus Could Turn $120M AAR Into A Billion-Dollar Machine Prenetics Global: On Course To Hit Profitability Amid Globalization Drive Prenetics Global reports Q1 results; gives Q2 and raises FY26 outlook Seeking Alpha’s Quant Rating on Prenetics Global Historical earnings data for Prenetics Global
The Commodity Futures Trading Commission headquarters in Washington, Dec. 23, 2022. Ting Shen | Bloomberg | Getty Images Federal regulators came out with their first proposed rules on how to oversee prediction markets on Wednesday. The Commodity Futures Trading Commission, which has taken the lead as the federal regulator over the markets, will seek to develop a framework to determine if contracts...
The Commodity Futures Trading Commission headquarters in Washington, Dec. 23, 2022. Ting Shen | Bloomberg | Getty Images Federal regulators came out with their first proposed rules on how to oversee prediction markets on Wednesday. The Commodity Futures Trading Commission, which has taken the lead as the federal regulator over the markets, will seek to develop a framework to determine if contracts are contrary to the public interest and illegal. Those questions surround contracts that relate to terrorism, assassinations, war, gaming or illegal conduct under state and or federal law, based on the Commodity Exchange Act. The commission did not outright ban any type of event contract based on the category of the trade, like those related to sports or elections. The proposed rule focuses heavily on how the commission will determine if a contract crosses too much into the realm of terrorism, war or assassinations, topics that domestically-regulated exchanges have avoided offering contracts on. The CFTC rules left some grey area around gaming, which has been the source of much controversy on the question of sports-related event contracts, though it detailed some sports-related contracts that the commission will not allow. In a release, the commission acknowledged the rules proposed on Wednesday were thin, and noted that further rulemaking regarding prediction markets may come in the future. After Wednesday's announcement, the proposed rule will now face a 45-day public comment period. "The CFTC will protect the integrity of our regulated markets without standing in the way of responsible innovation," said CFTC Chairman Michael Selig, who was appointed by President Donald Trump, in a statement. "This proposal gives the Commission a durable, transparent framework to identify the contracts Congress directed us to scrutinize while letting legitimate markets move forward." Selig in a post on X added that the commission will "balance market integrity with responsible innovation...
Anyone who’s been paying attention at the pump or supermarket knows that the cost of goods has increased substantially this year, particularly over the past few months. We can largely thank the Iran conflict for that. Since the conflict broke out earlier in the year, oil prices have soared, leading to a rise in ... CPI Just Spelled Bad News for Social Security COLA — Even Though it May Not Seem Th...
Anyone who’s been paying attention at the pump or supermarket knows that the cost of goods has increased substantially this year, particularly over the past few months. We can largely thank the Iran conflict for that. Since the conflict broke out earlier in the year, oil prices have soared, leading to a rise in ... CPI Just Spelled Bad News for Social Security COLA — Even Though it May Not Seem That Way