Australian vintner Treasury Wine Estates Ltd. is expecting lower earnings for the current financial year as it looks to focus on solidifying key markets and bolstering its position in the luxury portfolio. In a presentation to investors on Thursday, Treasury Wine, maker of the iconic Penfolds brand, said its earnings for the fiscal year ending June would be in the range of A$480 million ($342 mill...
Australian vintner Treasury Wine Estates Ltd. is expecting lower earnings for the current financial year as it looks to focus on solidifying key markets and bolstering its position in the luxury portfolio. In a presentation to investors on Thursday, Treasury Wine, maker of the iconic Penfolds brand, said its earnings for the fiscal year ending June would be in the range of A$480 million ($342 million) to A$490 million, below the previous year’s A$770 million. That is based on its key EBITS metric — earnings before interest, tax and a measure to smooth the volatility of agricultural valuations. In the pitch, Treasury Wine said it would focus on luxury red wine while boosting its position in luxury white wine and lighter options, including low-alcohol varieties. It expected to cut customer inventory cover in China for Penfolds by about 150,000 bottles, as part of a broader rebalancing. The company’s share price has struggled to regain momentum in 2026 after falling more than 50% last year, its biggest annual drop since shares first listed in 2011. Chief Executive Officer Sam Fischer , who started in the role in October, told investors at the half-yearly results in February that he was making progress in restoring the brand’s fortunes, pledging to tap new markets and cut down on third-party trading.
For the past year, many big retailers have been battling to attract the cash-strapped American consumers. Then there’s Target, which also faced a set of challenges of its own, stemming from several controversies and boycotts over its Pride collection and the scaling back of its DEI (diversity, ...
For the past year, many big retailers have been battling to attract the cash-strapped American consumers. Then there’s Target, which also faced a set of challenges of its own, stemming from several controversies and boycotts over its Pride collection and the scaling back of its DEI (diversity, ...
Broadcom posted strong quarterly results after the bell on Wednesday, but didn't provide enough upside to its guidance to move the stock higher. Revenue in the fiscal second quarter of 2026, which ended May 3rd, was $22.19 billion, a slight miss versus the $22.27 billion consensus forecast, according to estimates compiled by LSEG. On an annual basis, revenue rose 48%. Adjusted earnings per share (...
Broadcom posted strong quarterly results after the bell on Wednesday, but didn't provide enough upside to its guidance to move the stock higher. Revenue in the fiscal second quarter of 2026, which ended May 3rd, was $22.19 billion, a slight miss versus the $22.27 billion consensus forecast, according to estimates compiled by LSEG. On an annual basis, revenue rose 48%. Adjusted earnings per share (EPS) increased 54% to $2.44, beating expectations of $2.40, LSEG data showed. Adjusted EBITDA grew 52% to $15.24 billion in the quarter, beating the FactSet consensus of $15.06 billion. A measure of operating profitability, EBTIDA is short for earnings before interest, taxes, depreciation, and amortization. Why we own it Broadcom is a high-quality semiconductor and software company run by an incredible CEO, Hock Tan. The company is a major beneficiary of AI through its networking and custom chip businesses. It also has a shareholder-friendly capital allocation strategy with its dividends and buybacks. Competitors : Marvell Technology, Advanced Micro Devices , and Nvidia Last buy : Nov. 21, 2024 Initiation date : Aug. 24, 2023 Bottom line Broadcom delivered a solid quarter, with continued momentum in its AI semiconductor business only partially offset by softness in infrastructure software. And while the company provided a positive outlook for the current quarter, the market was looking for even stronger AI revenue, sinking shares in the after-market. Part of this AI stock frenzy has been about explosive earnings reports and ever-expanding total addressable markets, so investors were quick to sell the stock after CEO Hock Tan reiterated expectations of delivering $56 billion of AI semiconductor revenues in fiscal year 2026, and backed his target of at least $100 billion in fiscal year 2027. But we were encouraged to hear that management expects continued AI semiconductor revenue growth in fiscal 2028, driven by several initiatives with its six core customers, including Alpha...
(RTTNews) - The Singapore stock market has finished higher in three straight sessions, collecting almost 150 points or 2.9 percent in that span. The Straits Times Index now sits just beneath the 5,140-point plateau although it may be stuck in neutral on Thursday.
(RTTNews) - The Singapore stock market has finished higher in three straight sessions, collecting almost 150 points or 2.9 percent in that span. The Straits Times Index now sits just beneath the 5,140-point plateau although it may be stuck in neutral on Thursday.
Authorities are considering a pilot booking system for one of Hong Kong’s most popular hiking routes and creating a new marine park at Sharp Island in Sai Kung, following bigger-than-expected crowds during mainland Chinese holidays. The proposals were outlined in a paper submitted to a Legislative Council ecology and tourism subcommittee ahead of a meeting on Monday. The Agriculture, Fisheries and...
Authorities are considering a pilot booking system for one of Hong Kong’s most popular hiking routes and creating a new marine park at Sharp Island in Sai Kung, following bigger-than-expected crowds during mainland Chinese holidays. The proposals were outlined in a paper submitted to a Legislative Council ecology and tourism subcommittee ahead of a meeting on Monday. The Agriculture, Fisheries and Conservation Department said visitor numbers at the Po Pin Chau section of Sai Kung East Country...
Just over a year after consolidating its status as Singapore’s main opposition, the Workers’ Party (WP) is grappling with internal fissures as chief Pritam Singh’s role is being questioned by his own members. Singh, who has led the WP since 2018, is facing a special conference later this month called by 25 cadre members pushing for him to step down as secretary general for breaching the party cons...
Just over a year after consolidating its status as Singapore’s main opposition, the Workers’ Party (WP) is grappling with internal fissures as chief Pritam Singh’s role is being questioned by his own members. Singh, who has led the WP since 2018, is facing a special conference later this month called by 25 cadre members pushing for him to step down as secretary general for breaching the party constitution, according to local media. Sources say there is a generational divide in the party, with...
In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNT The Amazon headquarters in the South Lake Union neighborhood of Seattle, Washington, US, on Tuesday, Oct. 28, 2025. David Ryder | Bloomberg | Getty Images A group of Amazon engineers appeared at Seattle City Council hearings on Wednesday to throw their support behind efforts to regulate the development of giant AI data centers in...
In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNT The Amazon headquarters in the South Lake Union neighborhood of Seattle, Washington, US, on Tuesday, Oct. 28, 2025. David Ryder | Bloomberg | Getty Images A group of Amazon engineers appeared at Seattle City Council hearings on Wednesday to throw their support behind efforts to regulate the development of giant AI data centers in the area, which are getting constructed while their employer is engaged in mass layoffs. "It's been reported that this year, Amazon is spending $200 billion dollars on capital, with most of it going to data centers and AI," Patrick Schloesser, a software engineer at Amazon Web Services, said at a hearing. "Microsoft is spending $190 billion. Meanwhile, the leaders at my company have laid off 30,000 corporate employees in the last eight months. What that tells me is that Big Tech is desperate to build as much compute capacity as it can, as fast as it can." Representatives from Amazon didn't immediately respond to a request for comment. Officials in Seattle voted to approve a one-year moratorium on new large-scale artificial intelligence data centers to allow time for the city to regulate the projects. The proposal came after four developers approached a local utility provider to pitch building five large scale facilities in Seattle. Two of those developers have since withdrawn their proposals following public outcry, the Seattle Times reported. Seattle joins a growing list of cities and counties that are seeking to place limits on the explosive growth of AI data centers. According to the National Conference of State Legislatures , 14 states are considering legislation that would pause or ban new data centers. A report from Data Center Watch found that in 2025, at least $156 billion in data center projects were blocked or delayed amid local opposition and litigation. Tech's hyperscalers are showing no signs of slowing down. Amazon, Microsoft , Google parent Alphabet , and Me...
franckreporter/iStock via Getty Images The RiverPark Long/Short Opportunity Fund ((the “Fund”)) declined 9.77% in the first quarter of 2026, compared to a decline of 4.33% for the S&P 500 Total Return Index. Markets opened the year on solid footing but turned sharply volatile as the quarter progressed. The dominant macro shock was the escalation of the conflict with Iran, which intensified in late...
franckreporter/iStock via Getty Images The RiverPark Long/Short Opportunity Fund ((the “Fund”)) declined 9.77% in the first quarter of 2026, compared to a decline of 4.33% for the S&P 500 Total Return Index. Markets opened the year on solid footing but turned sharply volatile as the quarter progressed. The dominant macro shock was the escalation of the conflict with Iran, which intensified in late February and culminated in Iran’s closure of the Strait of Hormuz in early March, a waterway through which roughly 20% of global maritime petroleum trade is shipped. Brent crude surged above $100 per barrel for the first time since 2022, stoking renewed inflation concerns and rattling equity and bond markets alike. The Federal Reserve held rates steady at both its January and March meetings, but the combination of energy-driven price pressures and softening growth data raised stagflation concerns and prompted investors to reassess the pace and magnitude of future rate cuts. Against this backdrop, the broad market selloff was deepened by a rotation away from growth and technology stocks, as rising uncertainty around inflation, interest rates, and global supply chains weighed disproportionately on higher-multiple equities. Growth stocks were hit meaningfully harder than the broader market, driven by two powerful and opposing AI-driven rotations that dominated investor sentiment: enthusiasm for semiconductor companies levered to AI infrastructure spending, and deep pessimism toward enterprise software companies perceived as vulnerable to AI disruption. The Fund’s software holdings were sold off aggressively, while we were at the same time underweight the semiconductor names that benefited most from the AI infrastructure trade. The proximate cause of the software sell-off was the rapid advancement of AI coding and workflow tools, which prompted investors to ask a straightforward but, we believe, flawed question: if an AI agent can do what enterprise software does, why would an...
Live cattle futures ended the Wednesday session with contracts down $1.05 to $2.42 on the day. Cash trade started this week at $255, creeping up to $256 on Wednesday afternoon. The Wednesday Fed Cattle Exchange showed sales of $257 on 70 of the 1,256 head offered, with other bids of...
Live cattle futures ended the Wednesday session with contracts down $1.05 to $2.42 on the day. Cash trade started this week at $255, creeping up to $256 on Wednesday afternoon. The Wednesday Fed Cattle Exchange showed sales of $257 on 70 of the 1,256 head offered, with other bids of...
Cotton futures posted weakness in the front months of 3 to 31 points, with deferred contracts steady to 26 points higher on Wednesday. The US dollar index was up $0.301 at $99.785. Crude Oil was another $2.44 higher to $96.20. The Seam reported sales on 137 bales on Tuesday at...
Cotton futures posted weakness in the front months of 3 to 31 points, with deferred contracts steady to 26 points higher on Wednesday. The US dollar index was up $0.301 at $99.785. Crude Oil was another $2.44 higher to $96.20. The Seam reported sales on 137 bales on Tuesday at...
Soybeans broke to the downside on Wednesday, with contracts down 8 ½ to 11 ¼ cents at the close. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $10.95 1/2. Soymeal futures were 60 cents to $5.40 lower, with Soy Oil futures 30 to 71 points...
Soybeans broke to the downside on Wednesday, with contracts down 8 ½ to 11 ¼ cents at the close. The cmdtyView national average Cash Bean price was down 11 1/4 cents at $10.95 1/2. Soymeal futures were 60 cents to $5.40 lower, with Soy Oil futures 30 to 71 points...
Lean hog futures closed the midweek session with contracts up 35 cents to $1.15. USDA’s national base hog price was reported at $94.36 on Wednesday afternoon, down $1.21 from the day prior. The CME Lean Hog Index was back up 14 cents on June 1 at $91.65. USDA’s pork carcass...
Lean hog futures closed the midweek session with contracts up 35 cents to $1.15. USDA’s national base hog price was reported at $94.36 on Wednesday afternoon, down $1.21 from the day prior. The CME Lean Hog Index was back up 14 cents on June 1 at $91.65. USDA’s pork carcass...
The Indonesian rupiah is closing in on a key psychological level, putting market watchers on watch for a stronger response from the central bank. The local currency is less than 0.3% away from hitting the 18,000-per-dollar level after touching a new low Wednesday. BNP Paribas SA, MUFG Bank Ltd. and PT Mega Capital Sekuritas expect Bank Indonesia to step up market intervention measures, while furth...
The Indonesian rupiah is closing in on a key psychological level, putting market watchers on watch for a stronger response from the central bank. The local currency is less than 0.3% away from hitting the 18,000-per-dollar level after touching a new low Wednesday. BNP Paribas SA, MUFG Bank Ltd. and PT Mega Capital Sekuritas expect Bank Indonesia to step up market intervention measures, while further raising interest rates as soon as this month. Indonesian authorities have defended round numbers in the past and “18,000 is likely a psychological level market participants will be watching closely,” said Parisha Saimbi , a strategist at BNP Paribas. “Bank Indonesia intervention efforts appear likely to try to stem the pace of currency depreciation.” The rupiah is Asia’s worst-performing currency this year, pressured in part by concerns that elevated oil prices will widen Indonesia’s budget deficit through higher energy subsidy costs. A break beyond 18,000 could accelerate foreign outflows from local stocks and bonds, making the level a key test for policymakers seeking to restore confidence in an economy facing mounting headwinds. Investor sentiment toward Indonesian assets has deteriorated this year after MSCI Inc. warned the country could be reclassified as a frontier market, while Fitch Ratings Inc. and Moody’s Ratings revised their outlooks on the sovereign. Concerns have also grown over government efforts to exert greater control over key commodity exports. Read More: Indonesian Stocks Slump to Five-Year Low, Rupiah Drops to Record The nation’s stocks benchmark dropped to a five-year low Wednesday amid the rupiah’s slide and concerns about a potential sovereign rating downgrade. Indonesia’s trade surplus nearly vanished in April as soaring prices for imported oil and gas outpaced export gains, while inflation accelerated in May. “The rupiah stability is a key mandate for BI,” said Lloyd Chan , FX strategist at MUFG. “Given the trajectory of rupiah depreciation, BI ...