SpaceX ’s $1.75 trillion initial public offering highlights the potential upside — and downside — from Elon Musk’s bold vision to place data centers in Earth orbit, according to one of the company’s private investors. “The orbital data center is the next hypothesis that they are seeking to validate, but everybody should be totally aware of the risks that are involved,” said Peter Singlehurst , hea...
SpaceX ’s $1.75 trillion initial public offering highlights the potential upside — and downside — from Elon Musk’s bold vision to place data centers in Earth orbit, according to one of the company’s private investors. “The orbital data center is the next hypothesis that they are seeking to validate, but everybody should be totally aware of the risks that are involved,” said Peter Singlehurst , head of the private companies team at Baillie Gifford . “In the event that they prove, it the payoffs will be large.” The IPO represents the culmination of a 15-year trend of companies staying private longer, with Space Exploration Technologies Corp. going public at a valuation 900 times larger than Tesla Inc.’s 2012 listing, Singlehurst said Wednesday in a Bloomberg Television interview. Baillie Gifford also backs AI company Anthropic, whose business models are now overlapping as SpaceX positions itself as an AI infrastructure provider. SpaceX is set to price its $75 billion IPO at $135 per share, the largest IPO in history, surpassing Saudi Aramco’s $29.4 billion record from December 2019. Part of Musk’s strategy calls for building data centers in space, taking advantage of SpaceX’s launch technology to position the facilities in orbit, separating them from terrestrial electric grids and human neighbors. Different Baillie Gifford funds will likely take different positions on SpaceX following the IPO depending on their exposure history, Singlehurst said. Funds that owned SpaceX since it was valued at $30 billion have very large positions, and may need to sell down even while maintaining meaningful exposure to provide clients with diversification, while public-only funds face the question of whether to buy. “There is universal agreement that SpaceX has been an exceptional company,” he said. “The real question from here is what is the right price and what is the right position size?” Singlehurst said SpaceX’s listing underscores the need for investors to be in private and publi...
Instagram is going to let you tweak what its algorithm shows you on your main feed. With the Your Algorithm feature, "you can now see the topics we think you're interested in, and change them, across all the major parts of Instagram," according to Instagram boss Adam Mosseri . Right now, the feature will only surface topics, but Instagram is working on "supporting requests for people, different mo...
Instagram is going to let you tweak what its algorithm shows you on your main feed. With the Your Algorithm feature, "you can now see the topics we think you're interested in, and change them, across all the major parts of Instagram," according to Instagram boss Adam Mosseri . Right now, the feature will only surface topics, but Instagram is working on "supporting requests for people, different moods or vibes, content types, and more." The company has been slowly giving users more agency over some algorithms on Instagram, having already launched the Your Algorithm feature for your Reels feed and the Explore page . With Wednesday's announcemen … Read the full story at The Verge.
As of midday, the S&P 500 (SNPINDEX:^GSPC) fell 1.00% to 7,312.58, the Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 1.27% to 25,352.11, and the Dow Jones Industrial Average (DJINDICES:^DJI) lost 1.22% to 50,239.76 as hotter inflation and Iran tensions fueled a broad sell-off.
As of midday, the S&P 500 (SNPINDEX:^GSPC) fell 1.00% to 7,312.58, the Nasdaq Composite (NASDAQINDEX:^IXIC) dropped 1.27% to 25,352.11, and the Dow Jones Industrial Average (DJINDICES:^DJI) lost 1.22% to 50,239.76 as hotter inflation and Iran tensions fueled a broad sell-off.
PM Images/DigitalVision via Getty Images While the 4% rule has worked for many investors over the years, it has one fundamental flaw: sequence-of-returns risk. If you build up a portfolio to where 4% of your current value should be sufficient to meet your living expenses, but then you immediately get hit by a market crash, such as what was experienced in 2000 or 2008, and see your nest egg get cut...
PM Images/DigitalVision via Getty Images While the 4% rule has worked for many investors over the years, it has one fundamental flaw: sequence-of-returns risk. If you build up a portfolio to where 4% of your current value should be sufficient to meet your living expenses, but then you immediately get hit by a market crash, such as what was experienced in 2000 or 2008, and see your nest egg get cut in half in the first year and are forced to start liquidating it by selling shares, your retirement living standard quickly changes for the worse. Why Dividend Investing is the Answer This is where dividend investing comes into play, because if you live off the cash flow from your portfolio, you're never forced to sell shares at an inopportune time. The key is maximizing your passive income from dividends while at the same time minimizing the risk of dividend cuts. If you can effectively balance the two, you can disconnect from concerns about day-to-day, month-to-month, and even year-to-year market volatility because it effectively has no impact on your standard of living over the long term. Additionally, if you remain focused on the dividend income and invest in quality businesses that, in aggregate, grow their payouts over time, it is highly likely that your principal is also going to increase over the long term. By not having to ever sell shares, even during bear markets, you do not disrupt the compounding process and can rest assured knowing that not only will your passive income likely keep up with inflation over time, but your principal probably will too. With that in view, in today's article I'm going to look at how I would set up this portfolio to fund my living expenses over the long term through retirement. The Yield Traps That Can Wreck Your Retirement The most important thing to do is to avoid yield traps, because while many high-yielding investments look good on the surface as ways to accelerate your path to retirement, if you select the wrong ones, you can su...
A US Army helicopter gunship was apparently struck by an Iranian Shahed drone before going down near the Strait of Hormuz—but it's unclear whether the one-way attack drone was deliberately aimed or achieved more of a lucky accidental strike. Axios correspondent Barak Ravid first reported an unnamed US government official’s comments that an Iranian drone had hit the US Army AH-64 Apache helicopter ...
A US Army helicopter gunship was apparently struck by an Iranian Shahed drone before going down near the Strait of Hormuz—but it's unclear whether the one-way attack drone was deliberately aimed or achieved more of a lucky accidental strike. Axios correspondent Barak Ravid first reported an unnamed US government official’s comments that an Iranian drone had hit the US Army AH-64 Apache helicopter before the latter went down on June 8. The New York Times later confirmed that reporting through more anonymous US officials, including one official who said US military investigators were still evaluating whether the Iranian drone strike on the helicopter was intentional or accidental. Iran has fired thousands of such Shahed drones against a wide range of military and civilian targets in the Gulf region since February 28, 2026, when the United States and Israel began the war by jointly attacking Iran with a barrage of bombs and missiles. But Shahed drones have mainly struck stationary targets such as Amazon data centers and energy facilities, sometimes hitting slow-moving commercial ships in the Strait of Hormuz . Read full article Comments
Violence erupted in Northern Ireland last night in response to a stabbing attack in Belfast that was captured in a graphic video. Crowds, including masked men, burned vehicles and houses, hours after Elon Musk, Tommy Robinson and other agitators encouraged people to take to the streets. Nosheen Iqbal speaks to Ireland correspondent Rory Carroll. Continue reading...
Violence erupted in Northern Ireland last night in response to a stabbing attack in Belfast that was captured in a graphic video. Crowds, including masked men, burned vehicles and houses, hours after Elon Musk, Tommy Robinson and other agitators encouraged people to take to the streets. Nosheen Iqbal speaks to Ireland correspondent Rory Carroll. Continue reading...
Ramon Cliff/iStock Editorial via Getty Images Article Thesis Canadian Natural Resources Limited ( CNQ ) is a high-quality energy company that produces and sells oil that is very secure from the current conflict in the Middle East. With new attacks from Iran and the U.S. responding to that, peace seems unlikely in the near term -- CNQ will benefit from ongoing oil supply disruptions and offers a ve...
Ramon Cliff/iStock Editorial via Getty Images Article Thesis Canadian Natural Resources Limited ( CNQ ) is a high-quality energy company that produces and sells oil that is very secure from the current conflict in the Middle East. With new attacks from Iran and the U.S. responding to that, peace seems unlikely in the near term -- CNQ will benefit from ongoing oil supply disruptions and offers a very nice shareholder yield while trading at an undemanding valuation. Past Coverage I have written about Canadian Natural Resources here on Seeking Alpha in the past, most recently in March , two months ago. The company has announced its Q1 earnings results since then and has given us an update on its capital return plans, and with the Iran conflict escalating again in recent days and with my most recent CNQ update being from around one quarter ago, I want to update my thesis today. Oil Macro: Conflict In The Middle East Remains A Huge Supply Disruptor The Iran conflict initially escalated a little more than three months ago, but a more-or-less ceasefire was agreed upon after a couple of weeks, which has now been in place for two months or so. In recent days, however, tensions rose again -- and after Iran shot down a U.S. helicopter, the US answered with attacks on Iranian assets. I believe that this has made a new-term peace deal relatively unlikely, especially since negotiations between Iran and the U.S. have not been very fruitful even before the escalation over the last couple of days. In the meantime, the Straight of Hormuz ("SoH") remains largely closed, with pipeline capacity going around the SoH not being nearly large enough to fully offset the Strait closure. This has caused worldwide oil and product reserves to decline for the last three months or so, and as long as the SoH is not fully opened up again, that will continue. I think that there is a meaningful likelihood that oil prices ( CO1:COM ) will rise materially in the coming weeks and months, as reserves conti...
Luis Alvarez Analysts Bela Lakos and Bay Area Ideas have turned more constructive on The Hershey Company ( HSY ) and ON Semiconductor ( ON ), citing improved financial health and significant growth in AI data center demand. Conversely, analysts Julian Lin and Kenio Fontes have downgraded Advanced Micro Devices ( AMD ) and Micron Technology ( MU ), respectively. While both companies have benefited ...
Luis Alvarez Analysts Bela Lakos and Bay Area Ideas have turned more constructive on The Hershey Company ( HSY ) and ON Semiconductor ( ON ), citing improved financial health and significant growth in AI data center demand. Conversely, analysts Julian Lin and Kenio Fontes have downgraded Advanced Micro Devices ( AMD ) and Micron Technology ( MU ), respectively. While both companies have benefited from the AI boom, concerns regarding stretched valuations and high execution risk have led these analysts to advise stepping back from these positions. Upgrades The Hershey Company ( HSY ): Upgrade Sell to Hold by Bela Lakos . The analyst notes that improved sales and profitability figures have strengthened the company’s fundamental financial health, making a sell rating no longer appropriate. “In the most recent quarter, HSY impressed with strong top- and bottom-line growth. Sales grew by more than 10%, and the diluted EPS almost doubled year-over-year. I particularly like that the growth was broad-based, and each reportable segment contributed.” ON Semiconductor ( ON ): Upgrade Sell to Buy by Bay Area Ideas . The company has reached a critical inflection point, marked by its first year-over-year revenue growth since 2023, largely fueled by a doubling of revenue in the AI data center segment. “It is clear that innovation is ON Semiconductor's competitive advantage at this point, and over time this should help to drive more demand for their solutions. This will in turn power their top-line growth as well as pricing power as hyperscalers and other enterprises look to adopt state-of-the-art technologies.” Downgrades Advanced Micro Devices ( AMD ): Downgrade by Julian Lin . Despite the company’s strong execution in the data center market, the analyst believes the current stock price already reflects several years of aggressive future growth, leaving little room for alpha. “ I am a firm believer that the rise of agentic AI will require a longer infrastructure buildout than the ...
Luis Alvarez Analysts Bela Lakos and Bay Area Ideas have turned more constructive on The Hershey Company ( HSY ) and ON Semiconductor ( ON ), citing improved financial health and significant growth in AI data center demand. Conversely, analysts Julian Lin and Kenio Fontes have downgraded Advanced Micro Devices ( AMD ) and Micron Technology ( MU ), respectively. While both companies have benefited ...
Luis Alvarez Analysts Bela Lakos and Bay Area Ideas have turned more constructive on The Hershey Company ( HSY ) and ON Semiconductor ( ON ), citing improved financial health and significant growth in AI data center demand. Conversely, analysts Julian Lin and Kenio Fontes have downgraded Advanced Micro Devices ( AMD ) and Micron Technology ( MU ), respectively. While both companies have benefited from the AI boom, concerns regarding stretched valuations and high execution risk have led these analysts to advise stepping back from these positions. Upgrades The Hershey Company ( HSY ): Upgrade Sell to Hold by Bela Lakos . The analyst notes that improved sales and profitability figures have strengthened the company’s fundamental financial health, making a sell rating no longer appropriate. “In the most recent quarter, HSY impressed with strong top- and bottom-line growth. Sales grew by more than 10%, and the diluted EPS almost doubled year-over-year. I particularly like that the growth was broad-based, and each reportable segment contributed.” ON Semiconductor ( ON ): Upgrade Sell to Buy by Bay Area Ideas . The company has reached a critical inflection point, marked by its first year-over-year revenue growth since 2023, largely fueled by a doubling of revenue in the AI data center segment. “It is clear that innovation is ON Semiconductor's competitive advantage at this point, and over time this should help to drive more demand for their solutions. This will in turn power their top-line growth as well as pricing power as hyperscalers and other enterprises look to adopt state-of-the-art technologies.” Downgrades Advanced Micro Devices ( AMD ): Downgrade to Hold by Julian Lin . Despite the company’s strong execution in the data center market, the analyst believes the current stock price already reflects several years of aggressive future growth, leaving little room for alpha. “ I am a firm believer that the rise of agentic AI will require a longer infrastructure buildout t...
quantic69 Market breadth within the S&P 500 ( SP500 ) has weakened in recent weeks, even as the benchmark index remains above a key long-term technical threshold. According to current market data, 205 companies in the index are trading below their respective 200-day moving averages, representing roughly 41% of S&P 500 constituents. The 200-day moving average is widely followed by investors as an i...
quantic69 Market breadth within the S&P 500 ( SP500 ) has weakened in recent weeks, even as the benchmark index remains above a key long-term technical threshold. According to current market data, 205 companies in the index are trading below their respective 200-day moving averages, representing roughly 41% of S&P 500 constituents. The 200-day moving average is widely followed by investors as an indicator of a stock’s long-term trend and overall market health. A growing number of stocks falling beneath that level can signal deteriorating momentum beneath the surface, even when headline indexes appear relatively resilient. While the broader S&P 500 continues to hold above its own 200-day moving average, the index has slipped below its shorter-term 20-day moving average amid a recent bout of market volatility. The move highlights increasing near-term selling pressure following the latest market pullback. The divergence between the index and a significant portion of its underlying components suggests that weakness has become more widespread, with investors closely monitoring whether market breadth stabilizes or continues to deteriorate in the weeks ahead. Below are the 10 S&P 500 stocks trading furthest below their respective 200-day moving averages. Intuit ( INTU ), 46.79% below 200-day MA Toronto-Dominion Bank ( TD ), 43.40% below 200-day MA Baxter International ( BAX ), 41.76% below 200-day MA PDD Holdings ( PDD ), 41.15% below 200-day MA CoStar Group ( CSGP ), 40.85% below 200-day MA Tractor Supply ( TSCO ), 37.46% below 200-day MA Church & Dwight ( CHD ), 35.31% below 200-day MA Coinbase Global ( COIN ), 34.88% below 200-day MA Zoetis ( ZTS ), 33.37% below 200-day MA Fidelity National Information Services ( FIS ), 30.77% below 200-day MA S&P 500 Funds: ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( FXAIX ), ( VFIAX ), ( VFFSX ), and ( SWPPX ). More on markets Market pullback is viewed as a healthy pause, Morgan Stanley says 15 ...
The buzz around SpaceX 's (NASDAQ: SPCX) upcoming initial public offering (IPO) this week has reached a fever pitch. With Elon Musk's rocket empire poised to list on the Nasdaq on June 12, retail and institutional investors alike are salivating at the opportunity to own a piece of the company behind Starlink, reusable rockets, and an ambitious sovereign AI roadmap . The question smart investors ar...
The buzz around SpaceX 's (NASDAQ: SPCX) upcoming initial public offering (IPO) this week has reached a fever pitch. With Elon Musk's rocket empire poised to list on the Nasdaq on June 12, retail and institutional investors alike are salivating at the opportunity to own a piece of the company behind Starlink, reusable rockets, and an ambitious sovereign AI roadmap . The question smart investors are asking is whether scooping up shares on the first day of trading is a smart move, or a costly thrill ride. Spoiler alert: History suggests the latter. While the SpaceX IPO will undoubtedly be a spectacle, buying shares at the opening bell will almost certainly mean overpaying for hype that will fade fast. Read on to learn why. Image source: Getty Images. Continue reading
Microsoft co-founder Bill Gates said on Wednesday that he “never victimised anyone”, as he faced questioning from US lawmakers over his ties to late sex offender Jeffrey Epstein. Gates, one of the world’s richest men and a leading philanthropist, was appearing before the House Oversight Committee for a transcribed interview about the disgraced financier, who died in a New York jail cell in 2019 wh...
Microsoft co-founder Bill Gates said on Wednesday that he “never victimised anyone”, as he faced questioning from US lawmakers over his ties to late sex offender Jeffrey Epstein. Gates, one of the world’s richest men and a leading philanthropist, was appearing before the House Oversight Committee for a transcribed interview about the disgraced financier, who died in a New York jail cell in 2019 while awaiting trial on sex-trafficking charges involving underage girls. “I never witnessed nor had...
Wirestock Ferrari N.V. ( RACE ) is off to a rocky start with the Luce electric vehicle, with social media posts and industry reviews mocking the design for looking like much less expensive EVs like the Nissan Leaf and the numerous Chinese EV models. Adding to the negative sentiment, former Ferrari CEO Luca Cordero di Montezemolo voiced concern for the brand's legacy and dramatically called for str...
Wirestock Ferrari N.V. ( RACE ) is off to a rocky start with the Luce electric vehicle, with social media posts and industry reviews mocking the design for looking like much less expensive EVs like the Nissan Leaf and the numerous Chinese EV models. Adding to the negative sentiment, former Ferrari CEO Luca Cordero di Montezemolo voiced concern for the brand's legacy and dramatically called for stripping the iconic prancing horse logo off the Luce. However, Vigna thinks the early reaction to the Luce EV will be overcome. "If you see it and try it, you immediately understand it was not copied and it has nothing to share with other EVs you have seen," Ferrari ( RACE ) CEO Benedetto Vigna said at a recent auto conference. The negative start for Luce in China is a disappointment because Ferrari ( RACE ) was banking on solid demand from wealthy Chinese buyers to help reverse a sales slump in the region. Notably, Ferrari's ( RACE ) import volume was 21% for the first four months of the year, according to data from the China Passenger Car Association. Luce's quad motors generate 1,036 horsepower and 730 lb-ft of torque, resulting in acceleration from 0 to 60 mph in 2.5 seconds. Its 122 kWh battery pack, which is integrated into the body of the vehicle, also supports up to 329 miles of range. Other features include rear-hinged back doors, a floating wing mounted on its hood, amplified revving sounds in performance mode, and a large pivoting touchscreen that integrates manual buttons on the center display. The Luce is Ferrari's ( RACE ) first-ever five-seat vehicle. Shares of Ferrari ( RACE ) fell 2.2% on Wednesday to back below $350.00. The 52-week high for the auto stock is $519.10. More on Ferrari Drifting In The Same Lane: The Convergence Of Porsche And Ferrari Ferrari: Luce EV Fears Keep Open A Luxury-Compounder Entry Point Of The Makers Of New Electric Supercars, BYD Shares Are Preferable To Ferrari's Ferrari backlash: Lamborghini CEO says canceling its EV plan was 'the...