Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." Crude surges as tensions escalate in the Strait of Hormuz, rattling global markets. Blackstone’s Jon Gray doubles down, calling for the firm’s “best year ever” as IPO momentum builds. Plus, a wave of earnings—Tesla ramps AI spending to $25 billion, American Airlines braces for soaring fuel costs, ...
Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." Crude surges as tensions escalate in the Strait of Hormuz, rattling global markets. Blackstone’s Jon Gray doubles down, calling for the firm’s “best year ever” as IPO momentum builds. Plus, a wave of earnings—Tesla ramps AI spending to $25 billion, American Airlines braces for soaring fuel costs, and American Express sees travel demand cool. ServiceNow’s Bill McDermott says growth is still the story. (Source: Bloomberg)
With the EU approving a €90bn loan for Ukraine, a surprise visit from Prince Harry, and data suggesting Russian troops made almost no territorial gains in March - are there reasons for optimism in Kyiv? Lucy Hough speaks to senior international correspondent Luke Harding Continue reading...
With the EU approving a €90bn loan for Ukraine, a surprise visit from Prince Harry, and data suggesting Russian troops made almost no territorial gains in March - are there reasons for optimism in Kyiv? Lucy Hough speaks to senior international correspondent Luke Harding Continue reading...
Earnings Call Insights: Huntington Bancshares (HBAN) Q1 2026 Management View “We delivered an outstanding first quarter by all measures, driven by disciplined execution across the franchise that is translating into strong profitability and returns,” said (Chairman, President & CEO Stephen Steinour), while adding that conditions in Huntington’s footprint are “remaining consistent with prior quarter...
Earnings Call Insights: Huntington Bancshares (HBAN) Q1 2026 Management View “We delivered an outstanding first quarter by all measures, driven by disciplined execution across the franchise that is translating into strong profitability and returns,” said (Chairman, President & CEO Stephen Steinour), while adding that conditions in Huntington’s footprint are “remaining consistent with prior quarters” and “these factors do not change our outlook for performance this year.” Steinour pointed to integration and expansion priorities, citing “our Carolinas expansion,” “the build-out of our vertical specialty businesses,” “partnerships with Cadence and Veritex,” and “the Janney and TM Capital acquisitions,” and said Huntington “made the decision to temporarily build additional liquidity, improving our already peer-leading liquidity position.” Steinour raised profitability targets, saying, “we raised our ROTCE target to 18% to 19%,” and added, “We remain confident in our ability to deliver that level of profitability in 2027.” “For the quarter, earnings per common share was $0.25,” said (CFO & Senior EVP Zachary Wasserman), adding, “On an adjusted basis… EPS was $0.37,” alongside “Net interest income increased $301 million or 18.7% sequentially” and “Net interest margin was 3.24%.” Wasserman highlighted capital return actions and capacity: “As noted at a conference in March, we increased our 2026 share repurchase plans to $550 million,” and “the Board approved a new $3 billion share repurchase authorization, replacing the prior program.” Outlook Management reiterated its medium-term targets, with Wasserman stating, “The second key milestone is our 2027 earnings per share projection of $1.90 to $1.93 with a return on tangible common equity of between 18% and 19%.” Wasserman updated key 2026 guideposts tied to mix and liquidity decisions: “we now expect 2026 NIM to trend into the high 3.20s compared to our prior expectation in the mid-3.30s,” and said Huntington elected “to ca...
Daniel Wright/iStock Editorial via Getty Images Introduction Kinder Morgan ( KMI ) is a company I closely monitor because I thought it would become a direct beneficiary of the new American-European LNG diplomacy . My rating was neutral because I said that the stock was already reflecting the positive outlook, but I wrote that it would have exited its trading range if a new catalyst appeared. That ...
Daniel Wright/iStock Editorial via Getty Images Introduction Kinder Morgan ( KMI ) is a company I closely monitor because I thought it would become a direct beneficiary of the new American-European LNG diplomacy . My rating was neutral because I said that the stock was already reflecting the positive outlook, but I wrote that it would have exited its trading range if a new catalyst appeared. That was in January. The rest is history: the Iran War started, and the stock exited its range, moving up to $35 before retracing back a bit. Now that Kinder Morgan has released its Q1 2026 earnings , it's time to once again assess the company and see whether the stock deserves a rating upgrade or not. Kinder Morgan: A Quick Overview Most of us are familiar with the company. But allow me to share just two visuals that help us understand at a glance what the company is. First of all, it is an infrastructure company. In the U.S. it holds the number one spot among natural gas transmission networks, since it moves more or less 40% of the U.S.'s natural gas production. It is also working on storage capacity, having over 700Bcf (roughly 15% of the U.S. capacity). This is going to make it an important company, especially as we are getting used to volatility in gas and oil demand. Natural gas is its largest segment, accounting for two-thirds of the mix, while refined products make up another 26%. KMI Q1 2026 Investor Presentation In addition to its hard asset advantage, Kinder Morgan also benefits from predictable cash flows. As we can see below, around 65% of its cash flow architecture comes from take-or-pay contracts, which require customers to pay regardless of the actual throughput. Another 26% is fee-based, which means that it is generated regardless of commodity price. Only 4% of the company's cash flow is exposed to commodity price volatility. This is why I have always liked pipelines over wells: they are more stable. KMI Q1 2026 Investor Presentation With this in mind, let's loo...
(RTTNews) - Canadian stocks are turning in a mixed performance in cautious trade on Thursday amid lingering concerns about the conflict in the Middle East, and continued uncertainty about fresh talks between U.S. and Iran.
(RTTNews) - Canadian stocks are turning in a mixed performance in cautious trade on Thursday amid lingering concerns about the conflict in the Middle East, and continued uncertainty about fresh talks between U.S. and Iran.
A tablet screen displays a portrait of Jeffrey Epstein beside the U.S. Department of Justice website page titled Epstein Library, Feb. 11, 2026. Veronique Tournier | Afp | Getty Images The Department of Justice 's internal watchdog said on Thursday that it is investigating the DOJ's compliance with a law requiring that it fully disclose department files about the notorious sex offender Jeffrey Eps...
A tablet screen displays a portrait of Jeffrey Epstein beside the U.S. Department of Justice website page titled Epstein Library, Feb. 11, 2026. Veronique Tournier | Afp | Getty Images The Department of Justice 's internal watchdog said on Thursday that it is investigating the DOJ's compliance with a law requiring that it fully disclose department files about the notorious sex offender Jeffrey Epstein . The audit by the Office of the Inspector General comes after months of complaints that the DOJ has failed to comply with the Epstein Files Transparency Act by withholding many files in its possession about Epstein and his convicted accomplice, Ghislaine Maxwell. Deputy Inspector General William Blier, in a statement, said, "Our preliminary objective is to evaluate the DOJ's processes for identifying, redacting, and releasing records in its possession as required by the Act." "If circumstances warrant, the OIG will consider addressing other issues that may arise during the course of the audit," Blier said. The OIG "will issue a public report with the audit's results when our work is complete," he said. Read more about the Jeffrey Epstein files List: High-profile people burned by past dealings exposed in the Epstein files Gates Foundation reviewing Jeffrey Epstein ties, will slash 20% of staff: WSJ Jeffrey Epstein victims will get House committee hearing, James Comer says Melania Trump blasts claims about Jeffrey Epstein and her Epstein files: Pam Bondi testimony to House panel canceled Bill Gates interview about Jeffrey Epstein by House Oversight set for June 10 Epstein files: Commerce Secretary Lutnick set for May 6 interview by House Oversight Trump fires Attorney General Pam Bondi Epstein files: Buffett says he hasn't talked to Bill Gates 'since the whole thing was unveiled' Epstein victims get $72.5M from Bank of America settlement Epstein victims sue Trump administration, Google House committee subpoenas Attorney General Pam Bondi Goldman Sachs’ Ruemmler, Bill Ga...
Committee to Protect Journalists says Ahmed Shihab-Eldin was found innocent after 52 days in detention Middle East crisis – live updates A Kuwaiti-American journalist, who had been detained in Kuwait, has been acquitted, according to the Committee to Protect Journalists (CPJ). Ahmed Shihab-Eldin, who has previously worked for PBS, HuffPost, the New York Times , the BBC and Al Jazeera, was arrested...
Committee to Protect Journalists says Ahmed Shihab-Eldin was found innocent after 52 days in detention Middle East crisis – live updates A Kuwaiti-American journalist, who had been detained in Kuwait, has been acquitted, according to the Committee to Protect Journalists (CPJ). Ahmed Shihab-Eldin, who has previously worked for PBS, HuffPost, the New York Times , the BBC and Al Jazeera, was arrested on 3 March during a brief visit to Kuwait. Continue reading...
Justin Sullivan/Getty Images News Chevron ( CVX ) said Thursday it resumed full production of liquefied natural gas at its Wheatstone plant in Australia following repairs for damage caused by a cyclone last month . Tropical Cyclone Narelle disrupted operations at the 8.9M metric tons/year facility last month, leaving both LNG processing trains offline, but Chevron ( CVX ) said it was able to re...
Justin Sullivan/Getty Images News Chevron ( CVX ) said Thursday it resumed full production of liquefied natural gas at its Wheatstone plant in Australia following repairs for damage caused by a cyclone last month . Tropical Cyclone Narelle disrupted operations at the 8.9M metric tons/year facility last month, leaving both LNG processing trains offline, but Chevron ( CVX ) said it was able to restart gas production for Western Australian customers in "around a week" after the cyclone, with LNG returning progressively. The cyclone also hit Chevron's ( CVX ) Gorgon LNG facility, which had to suspend operations at just one of its three liquefaction trains. The disruptions came as LNG supply from Qatar dried up following Iran's closure of the Strait of Hormuz and strikes on Qatari LNG infrastructure. The 30-day moving average of net shipments of LNG to Asia plunged below 600K tons this past weekend, the lowest one-month moving average of LNG arrivals into Asia since June 2020, according to ship-tracking data compiled by Bloomberg. More on Chevron Chevron: Current Levels Do Not Fully Capture Earnings Power And Strengthening FCF Chevron: Growth Drivers Are In Sync With Valuation And Technicals Chevron: Prolonged Iran War A Catalyst
Earnings Call Insights: Banner Corporation (BANR) Q1 2026 Management view "Banner Corporation reported a net profit available to common shareholders of $54.7 million or $1.60 per diluted share for the quarter ended March 31, 2026." (President, CEO & Director Mark J. Grescovich) "Banner's first quarter 2026 revenue from core operations was $169 million compared to $160 million for the first quarter...
Earnings Call Insights: Banner Corporation (BANR) Q1 2026 Management view "Banner Corporation reported a net profit available to common shareholders of $54.7 million or $1.60 per diluted share for the quarter ended March 31, 2026." (President, CEO & Director Mark J. Grescovich) "Banner's first quarter 2026 revenue from core operations was $169 million compared to $160 million for the first quarter of 2025, an increase of nearly 6%." (President, CEO & Director Grescovich) "Reflective of this performance, coupled with our strong regulatory capital ratios... we announced a core dividend increase of 4% to $0.52 per common share." (President, CEO & Director Grescovich) "Still, significant commercial real estate payoffs coupled with expected paydowns within the ag portfolio, offset production such that portfolio loans decreased $14 million when compared to December 31, 2025." (Executive VP & Chief Credit Officer Jill Rice) "The increase in adversely classified assets is centered in three relationships, operating and manufacturing, residential construction and wholesale agricultural deposits." (Executive VP & Chief Credit Officer Rice) "Deposits increased by $97 million during the quarter due to core deposits increasing $165 million... ending the quarter with no brokered deposits." (Executive VP, CFO & Treasurer Robert Butterfield) "Total borrowings decreased $142 million during the quarter, ending the quarter with no outstanding FHLB advances." (Executive VP, CFO & Treasurer Butterfield) Outlook "We think that... NIM would be relatively flat probably in the second quarter." (Executive VP, CFO & Treasurer Butterfield) "We could see some expansion in NIM in the third quarter... So we would expect some net interest margin expansion in the second half of the year." (Executive VP, CFO & Treasurer Butterfield) "We're still sticking with the mid-single-digit growth rate for 2026." (Executive VP & Chief Credit Officer Rice) Financial results "Tax equivalent net interest margin wa...
Earnings Call Insights: Keurig Dr Pepper (KDP) Q1 2026 Management view CEO Tim Cofer said the company “closed the JDE Peet's acquisition and made steady progress on our transformation initiatives,” adding that Q1 results “tracked slightly ahead of our expectations,” with 2026 priorities unchanged: “delivering our low double-digit EPS growth guidance,” integrating JDE Peet’s, and “achieving key mil...
Earnings Call Insights: Keurig Dr Pepper (KDP) Q1 2026 Management view CEO Tim Cofer said the company “closed the JDE Peet's acquisition and made steady progress on our transformation initiatives,” adding that Q1 results “tracked slightly ahead of our expectations,” with 2026 priorities unchanged: “delivering our low double-digit EPS growth guidance,” integrating JDE Peet’s, and “achieving key milestones to set up a successful separation.” Cofer described the post-close operating model and named the future coffee-company leader: “JDE Peet's CEO, Rafa Oliveira, has been selected by the Board to lead the coffee operating unit and become the future CEO of Global Coffee Co. upon separation.” He reiterated timing: “we continue to target operational readiness to separate by the end of 2026, with the official separation likely to occur in early 2027, subject to market conditions.” Cofer highlighted U.S. Refreshment momentum and innovation, including Canada Dry Fruit Splash Strawberry and the relaunch of “Dr Pepper Creamy Coconut,” while emphasizing mix shifts to “zero sugar CSD offerings” and growth platforms including energy (Bloom and GHOST) and Electrolit. CFO Anthony DiSilvestro reported, “Net sales increased 8.1%,” while “Gross margin contracted 220 basis points,” and “EPS decreased 7.1% to $0.39.” He added, “We expect Q1 to represent the most significant year-over-year gross margin decline for our legacy KDP business, with trends improving as inflation and tariff impacts ease, particularly in the back half.” Outlook DiSilvestro said, “We are reaffirming our 2026 outlook,” including JDE Peet’s from the April 1 close, and that the company will “report JDE Peet's as a separate segment until separation.” DiSilvestro guided total company net sales to “a range of $25.9 billion to $26.4 billion,” including “4% to 6% constant currency growth for legacy KDP” and “an $8.5 billion to $8.7 billion contribution from JDE Peet's.” On earnings, DiSilvestro reiterated “low double-dig...
Earnings Call Insights: PENN Entertainment (PENN) Q1 2026 Management view CEO Jay Snowden said, "PENN's diversified retail portfolio delivered another solid quarter as Retail segment adjusted EBITDA grew year-over-year," citing strength in the West "reflecting the ongoing ramp of M Resort's new Hotel Tower" and "continued momentum at the new Hollywood Joliet." Snowden reiterated the development pi...
Earnings Call Insights: PENN Entertainment (PENN) Q1 2026 Management view CEO Jay Snowden said, "PENN's diversified retail portfolio delivered another solid quarter as Retail segment adjusted EBITDA grew year-over-year," citing strength in the West "reflecting the ongoing ramp of M Resort's new Hotel Tower" and "continued momentum at the new Hollywood Joliet." Snowden reiterated the development pipeline timing and return framework: "we anticipate our 4 development projects will generate 15% plus cash-on-cash returns on our aggregate project cost of $800 million," with openings cited for "the Hollywood Columbus Hotel Tower on June 12" and "the new Hollywood Casino Aurora on June 24," plus "our new Council Bluffs property scheduled to open in 2028." On digital strategy, Snowden said Q1 was "the first full quarter under our realigned digital strategy," focused "primarily on our U.S. iCasino states and Canada," and added, "We expect our Alberta launch to result in a $20 million loss in 2026" and that "outside of Alberta, our breakeven interactive guide for the year is unchanged." CFO Felicia Kantor Hendrix reported, "Our Retail segment generated revenues of $1.4 billion, adjusted EBITDAR of $471.4 million and segment adjusted EBITDAR margins of 33.2%," noting results included "a onetime favorable adjustment related to a legal accrual... a $5 million benefit primarily in the South region." Outlook Hendrix raised retail guidance: "we are increasing the midpoint of our 2026 retail revenue and adjusted EBITDAR guidance by $20 million and $12 million," with revised ranges of "$5.73 billion to $5.86 billion" for revenue and "$1.88 billion to $1.98 billion" for adjusted EBITDAR. For Q2, Hendrix said the legacy Aurora riverboat "will be closed for about 2 weeks" ahead of the June 24 opening, while "The second half of 2026 should benefit from the contribution of all 4 of our development projects, and we expect adjusted EBITDAR to grow year-over-year in the mid-single digits." In...
Nikola Spasenoski/iStock via Getty Images Reflecting one of the most challenging winters in history across the western U.S. due to record low snowfall and warm temperatures, Vail Resorts ( MTN ) reported a 14.9% drop in season-to-date ski visits from last year at its North American ski destinations. Season-to-date lift revenue was down 5.6%, while ski school and dining revenue were down 12% and 11...
Nikola Spasenoski/iStock via Getty Images Reflecting one of the most challenging winters in history across the western U.S. due to record low snowfall and warm temperatures, Vail Resorts ( MTN ) reported a 14.9% drop in season-to-date ski visits from last year at its North American ski destinations. Season-to-date lift revenue was down 5.6%, while ski school and dining revenue were down 12% and 11.7%, respectively. As a result of these declines across the company’s operations, Vail Resorts ( MTN ) now expects resort reported EBITDA for FY26 to be at or around the low end of its lowered guidance range of $745M to $775M. “March conditions saw a continuation of low snowfall and warmer temperatures well outside of historical norms, leading to weaker late-season visitation and earlier than planned closures for many resorts across the western U.S.,” said Vail Resorts CEO Rob Katz. “As we previously highlighted heading into March, these dynamics increased variability and resulted in visitation declines for both destination and local guests, with the largest impact in the Rockies, where visitation declined 25%.” At the time the company reported fiscal Q2 results in March, below average snowfall and challenging ski conditions forced Vail Resorts ( MTN ) to lower its FY26 net income outlook by 31% at the midpoint to a range of $144M and $190M. Resort reported EBITDA guidance was cut by 12%. Looking ahead to the spring 2026/2027 season, the company notes a moderate decline in pass product units and a slight decline in sales dollars. Vail Resorts ( MTN ) shares are down more than 3%. More on Vail Resorts Vail Resorts: Poor Conditions And A Shakier Dividend (Downgrade) Vail Resorts: A Bad Snow Year Doesn't Change The Thesis Vail Resorts, Inc. (MTN) Q2 2026 Earnings Call Transcript Vail Resorts targets $745M-$775M EBITDA in 2026 amid historic weather challenges and new Gen Z pricing Vail Resorts cuts FY26 outlook as tough ski season weighs on FQ2 results
After several tests of unusual "nesting doll" satellites in low-Earth orbit, Russia is now fielding operational anti-satellite weapons with valuable US government satellites in their crosshairs, the four-star general leading US Space Command said this week. Gen. Stephen Whiting didn't name the system, but he was almost certainly referring to a Russian military program named Nivelir, which has laun...
After several tests of unusual "nesting doll" satellites in low-Earth orbit, Russia is now fielding operational anti-satellite weapons with valuable US government satellites in their crosshairs, the four-star general leading US Space Command said this week. Gen. Stephen Whiting didn't name the system, but he was almost certainly referring to a Russian military program named Nivelir, which has launched four satellites shadowing US spy satellites owned by the National Reconnaissance Office in low-Earth orbit. After reaching orbit, the Nivelir satellites have released smaller ships to start their own maneuvers, and at least one of those lobbed a mystery object at high velocity during a test in 2020. US analysts concluded this was a projectile that could be fired at another satellite. US officials have compared the Nivelir architecture to a Matryoshka doll , or a Russian nesting doll, with an outer shell concealing smaller, unknown figures inside. Read full article Comments
Former BOJ Board member Sayuri Shirai and BlackRock Japan Managing Director and Portfolio Manager Rie Shigekawa speak with Bloomberg reporter Lisa Du at the Bloomberg New Voices 2026 event in Tokyo. (Source: Bloomberg)
Former BOJ Board member Sayuri Shirai and BlackRock Japan Managing Director and Portfolio Manager Rie Shigekawa speak with Bloomberg reporter Lisa Du at the Bloomberg New Voices 2026 event in Tokyo. (Source: Bloomberg)
A massive release of oil from US emergency reserves that has started flowing to American refiners is also supplying fuelmakers in Europe, and potentially in Asia, as the Iran war upends global energy markets. Global trading houses have sold at least 4 million barrels of medium crude grades from the US Strategic Petroleum Reserve to European refiners, and are also seeking buyers in Asia, people wit...
A massive release of oil from US emergency reserves that has started flowing to American refiners is also supplying fuelmakers in Europe, and potentially in Asia, as the Iran war upends global energy markets. Global trading houses have sold at least 4 million barrels of medium crude grades from the US Strategic Petroleum Reserve to European refiners, and are also seeking buyers in Asia, people with direct knowledge of the transactions said, asking not to be named because the information isn’t public. The US-Israeli war on Iran triggered the biggest oil supply disruption in history as the closure of the Strait of Hormuz blocked off shipments from top OPEC producers in the Persian Gulf. The Trump administration pledged to release 172 million barrels as part of a relief plan coordinated by the International Energy Agency to cushion soaring energy costs that threaten to stoke global inflation. Supertanker Eagle Versailles , carrying nearly 2.1 million barrels of Bryan Mound medium sour crude, is on its way to Rotterdam, according to bills of lading compiled by maritime intelligence firm Kpler Ltd. The oil grade is named after one of the four underground salt cavern sites where the US emergency hoard is stashed away. So far, the US has released 79.7 million barrels to 12 companies. The oil was offered in an exchange basis, meaning it was loaned to traders and refiners and has to be returned at a later date. Vortexa Ltd. estimates more than half, or nearly 50 million barrels, could be exported by June, based on the assumption that the oil awarded to non-fuelmakers is likely to go to overseas markets starved of Middle East supplies. But Asian fuelmakers’ appetite for oil from US reserves may be dampened by a recent drop in global prices and also concerns over the quality of the oil, which may be sitting in caverns for decades. Crude prices in Europe have also fallen significantly recently, though still at historically high levels. It’s not unusual for US SPR oil to be expo...