Investing.com -- Alibaba and China Telecom announced Tuesday the launch of a data center in southern China powered by Alibaba's self-developed Zhenwu AI semiconductors.
Investing.com -- Alibaba and China Telecom announced Tuesday the launch of a data center in southern China powered by Alibaba's self-developed Zhenwu AI semiconductors.
imagean/iStock Unreleased via Getty Images Introduction Valaris Limited ( VAL ), the offshore driller, appears to be in a transition year. After a phenomenal 144.5% rally over the last year, partly driven by the Transocean Ltd. ( RIG ) merger news , multiples currently look high for a cyclical name. However, the current valuation appears fair for a company in transition. For one thing, they might ...
imagean/iStock Unreleased via Getty Images Introduction Valaris Limited ( VAL ), the offshore driller, appears to be in a transition year. After a phenomenal 144.5% rally over the last year, partly driven by the Transocean Ltd. ( RIG ) merger news , multiples currently look high for a cyclical name. However, the current valuation appears fair for a company in transition. For one thing, they might reflect the company’s contribution to the combined entity’s pro forma earnings base. More importantly, they reflect idle rigs, legacy contracts, and a temporary ‘whitespace’ period rather than the economics of recently signed contracts, as these new contracts are being signed at considerably higher day rates than the legacy contracts. The question is whether the market is evaluating the stock based on current trough earnings or the contract reality with higher utilization and day rates. Offshore Economics and Why Valaris Matters to the Combined Company Offshore development is driven by multi-year contracts and reserve replacement, not day-to-day oil volatility. As such, management’s comments that 70% of new deepwater spending sanctioned over the next three years break even at $50 per barrel mean Valaris does not even need oil at triple digits to be significantly profitable. These projects are concentrated in core deepwater basins such as Brazil and Guyana, where high-quality reservoirs and established infrastructure support durable offshore activity. The merger details make clear that Valaris is not just being bought for scale. It adds a modern fleet, especially jackups and high-spec drillships, broadens geographic reach, and contributes to a combined backlog of about $10 billion. Within Valaris itself, drillships account for about $3.0 billion of backlog versus about $1.1 billion for jackups, and drillship average day rates are roughly $416k in 2026 and $433k in 2027, far above jackup levels. The combination of Valaris’ jackup stability and drillship earnings leverage give...
designer491 Insmed Incorporated ( INSM ) has decided to halt an R&D program for its lung disorder therapy, brensocatib, following a mid-stage trial failure for the candidate against hidradenitis suppurativa, a skin disorder. Its Phase 2b CEDAR study, designed to evaluate brensocatib in adults with moderate to severe HS, did not meet primary or secondary efficacy endpoints, the Bridgewater, New Jer...
designer491 Insmed Incorporated ( INSM ) has decided to halt an R&D program for its lung disorder therapy, brensocatib, following a mid-stage trial failure for the candidate against hidradenitis suppurativa, a skin disorder. Its Phase 2b CEDAR study, designed to evaluate brensocatib in adults with moderate to severe HS, did not meet primary or secondary efficacy endpoints, the Bridgewater, New Jersey-based biotech announced late Tuesday. While both 10 mg and 40 mg dose levels failed to meet the key goals, patients tolerated the experimental therapy well, with no new safety signals even for the highest dose tested so far, according to the company. "While we are disappointed in the results, we hope that insights gained from this study will contribute to the broader scientific understanding of HS,” Insmed’s medical chief, Martina Flammer, remarked. In 2025, the U.S. and Europe approved brensocatib as an oral, once-daily treatment marketed as Brinsupri for non- cystic fibrosis bronchiectasis. More on Insmed Insmed: The Pipeline Is Catching Up To The Valuation Insmed Incorporated (INSM) Shareholder/Analyst Call - Slideshow Insmed: "Strong Buy" As Possible Label Expansion For ARIKAYCE Bodes Well Nasdaq rebounds to end flat as chip, AI-related stocks recover after Trump's speech Top Nasdaq movers this week as tech stocks continue to drag down the index
Kwang Mo Koo, Chairman and CEO of LG Corp., visited Silicon Valley—the global epicenter of AI innovation—to clarify LG's direction for AI commercialization and accelerate execution across its business portfolio.
Kwang Mo Koo, Chairman and CEO of LG Corp., visited Silicon Valley—the global epicenter of AI innovation—to clarify LG's direction for AI commercialization and accelerate execution across its business portfolio.
Douglas Rissing Delta Air Lines ( DAL ) traded higher in premarket action after reporting first-quarter results. Revenue was up 12.9% year over year to $15.9B to top the consensus estimate by $1.0B. The company saw healthy unit revenue improvement across all geographies, with positive inflection in main cabin growth. Total revenue per available seat mile was up 12% to $0.2292, while total cost per...
Douglas Rissing Delta Air Lines ( DAL ) traded higher in premarket action after reporting first-quarter results. Revenue was up 12.9% year over year to $15.9B to top the consensus estimate by $1.0B. The company saw healthy unit revenue improvement across all geographies, with positive inflection in main cabin growth. Total revenue per available seat mile was up 12% to $0.2292, while total cost per available seat mile rose 13% to $0.2220. "Demand remains strong, and we are taking actions to protect our margins and cash flow. This includes meaningfully reducing capacity growth, with a downward bias until the fuel environment improves, and moving quickly to recapture higher fuel costs," highlighted CEO Ed Bastian. Delta ( DAL ) said its fuel bill will be $2B higher this quarter because of the spike in fuel costs. That is despite benefiting from its Trainer refinery. The carrier guided for low-teens revenue growth for the second quarter on flat capacity growth. The airline sector shot up in general on Wednesday after the U.S. and Iran agreed to a two-week, Pakistan-brokered ceasefire after days of escalating conflict and a Trump deadline. The deal pauses U.S. and Israeli strikes on Iran while talks continue, and it is tied to Iran ensuring safe, immediate reopening of the Strait of Hormuz. Notably, both sides are using the truce to negotiate a broader peace framework. Airline stock reactions premarket: American Airlines ( AAL ) +9.4%, Southwest Airlines ( LUV ) +9.6, United Airlines ( UAL ) +11.5, JetBlue Airways ( JBLU ) +7.7%, Alaska Air Group ( ALK ) +8.4%, Allegiant Travel ( ALGT ) +11.4, Spirit Aviation ( FLYYQ ), SkyWest ( SKYW ), Sun Country Airlines ( SNCY ) +5.5%, Republic Airways ( RJET ) +3.3%, and Frontier Group ( ULCC ) +8.9%. More on the airline sector Delta Air Lines: Why It Is A Relative Winner (Rating Upgrade) Delta Air Lines Will Potentially Lead In This Year Of Chaos Delta Air Q1 Earnings Preview: A High Bar To Fly Over, Shares Fairly Valued Delta Air...
Maksim Safaniuk/iStock via Getty Images For most of the past seven years, Energy Transfer LP ( ET ) has traded at a discount to Enterprise Products Partners L.P. ( EPD ). For most of that time, I have believed EPD to be the better-run company and the less risky investment. Much of that view had to do with some questionable M&A moves by the ET Chairman, Kelcy Warren; the more complicated structure ...
Maksim Safaniuk/iStock via Getty Images For most of the past seven years, Energy Transfer LP ( ET ) has traded at a discount to Enterprise Products Partners L.P. ( EPD ). For most of that time, I have believed EPD to be the better-run company and the less risky investment. Much of that view had to do with some questionable M&A moves by the ET Chairman, Kelcy Warren; the more complicated structure of ET, including partial ownership of Sunoco LP ( SUN ) and USA Compression Partners, LP ( USAC ); and higher leverage at ET. In fact, I believe until about mid-2021, those issues left me neutral on ET and a buyer of EPD. Several things changed my views on ET. Most importantly, at the beginning of 2021, founder and Chairman Kelcy Warren stepped down as CEO and was replaced by the long-time COO and long-time CFO, who became co-CEOs. From the beginning, those two preached better integration of past acquisitions and lower leverage. While I am certain Warren still holds enormous sway over decisions at the company, there are two men with the CEO title, and their more deliberate and more conservative management has become apparent in the results. The performance has been good enough that I no longer think the valuation differential (image below) makes sense. EV/EBITDA Valuation Differential between EPD and ET (Bloomberg) Before anyone jumps down my throat, I am still very bullish on EPD and by no means intend to denigrate that company. I absolutely love those assets, that management team, and the controlling Duncan family. They have expanded with incredible discipline and achieved 12% ROIC over the past 10 years while managing the balance sheet to an A- credit rating. They have been far less aggressive with acquisitions, preferring organic growth, which I believe means better returns and less operational risk. With leverage just above 3x and a dialed-back capital expenditure budget for 2026 ($2.7 billion midpoint), the company is pivoting to returning cash to unitholders more agg...
Senate Democrats Might Not Have November In The Bag Based on various polls, Democrats are leading Republicans by roughly five to six points on the generic congressional ballot. While this certainly means they have an advantage, the numbers actually show real trouble for the Democrats for this year’s midterm elections. And even CNN isn’t trying to sugarcoat it for the Democratic Party. CNN chief da...
Senate Democrats Might Not Have November In The Bag Based on various polls, Democrats are leading Republicans by roughly five to six points on the generic congressional ballot. While this certainly means they have an advantage, the numbers actually show real trouble for the Democrats for this year’s midterm elections. And even CNN isn’t trying to sugarcoat it for the Democratic Party. CNN chief data analyst Harry Enten took a hard look at the numbers, and the picture for Democrats is not what most might expect. They should have a much bigger lead, and the fact that they don’t is a huge red flag. " This lead is historically low for Democrats at this point with a Republican president ," Enten pointed out. "On average, their lead is actually slightly less. It's five points. That's less than it was back in 2018 when it was eight points and way less than it was during the 2006 cycle when it was 11 points." According to Enten, there’s a huge disparity between how Democrats are performing in generic congressional ballot polling and President Donald Trump’s approval ratings. Trump's net approval rating is somewhere between -20 and -30 points. This is not a strong position for the party in power. Combined with the historical precedent that midterm elections usually favor the minority party, the numbers should spell disaster for the Republican Party, but it’s not. " You'd make the argument Democrats should be way ahead, and they're just only sort of slightly ahead. " A small shift might be enough for Democrats to take the House, but the Senate is a completely different animal, and according to Enten, the numbers suggest Democrats’ hopes of winning the Senate are not good. The math is brutal. Even in a blue wave scenario where Democrats flip every competitive seat, Republicans would still hold the Senate 51-49 because Trump carried states like Ohio, Texas, and Alaska by more than ten points. In this scenario, Democrats would pick up North Carolina and Maine, which would be a h...
Intel solidifies its foundry future by securing a landmark partnership with SpaceX and Tesla, positioning itself at the center of AI chip manufacturing.
Intel solidifies its foundry future by securing a landmark partnership with SpaceX and Tesla, positioning itself at the center of AI chip manufacturing.
RPM press release ( RPM ): Q3 Non-GAAP EPS of $0.57 beats by $0.22 . Revenue of $1.61B (+8.8% Y/Y) beats by $60M . Record adjusted EBIT of $116.4 million, an increase of 48.8% compared to the prior-year Reaffirming fiscal 2026 fourth-quarter sales guidance of mid-single-digit sales growth (vs. estimated growth of 5.03% Y/Y) and low- to high-single digit adjusted EBIT growth More on RPM RPM Interna...
RPM press release ( RPM ): Q3 Non-GAAP EPS of $0.57 beats by $0.22 . Revenue of $1.61B (+8.8% Y/Y) beats by $60M . Record adjusted EBIT of $116.4 million, an increase of 48.8% compared to the prior-year Reaffirming fiscal 2026 fourth-quarter sales guidance of mid-single-digit sales growth (vs. estimated growth of 5.03% Y/Y) and low- to high-single digit adjusted EBIT growth More on RPM RPM International: Staying On The Sidelines Until There Is More Clarity RPM International: A Solid Q2 Makes It A Buy (Rating Upgrade) RPM International Inc. (RPM) Q2 2026 Earnings Call Transcript RPM Q3 2026 Earnings Preview Quant snapshot: Delta Air Lines leads top-rated names as Byrna Technologies, Simulations Plus lag