The upcoming SpaceX initial public offering (IPO) has the market in rapture, with investors looking into all sorts of ways to buy the hot stock. But there is a fair amount of risk in investing in the IPO, and a new one just emerged. SpaceX is expected to be the largest IPO ever , with plans to raise $75 billion and debut with a valuation near $2 trillion. However, it's unprofitable, posting a $4.4...
The upcoming SpaceX initial public offering (IPO) has the market in rapture, with investors looking into all sorts of ways to buy the hot stock. But there is a fair amount of risk in investing in the IPO, and a new one just emerged. SpaceX is expected to be the largest IPO ever , with plans to raise $75 billion and debut with a valuation near $2 trillion. However, it's unprofitable, posting a $4.4 billion loss in 2025 and a $4.3 billion loss in the 2026 first quarter. On a price-to-sales basis, the stock is likely to be extremely expensive, starting out at around 100 times trailing-12-month sales. These are reasons the stock could tumble early. Image source: Getty Images. Continue reading
At The International Air Transport Association in Rio De Janeiro, United Airlines CEO Scott Kirby discussed with Co-host of Bloomberg Surveillance Lisa Abramowicz the current challenges facing the airline industry including rising fuel costs and their impact on ticket pricing. (Source: Bloomberg)
At The International Air Transport Association in Rio De Janeiro, United Airlines CEO Scott Kirby discussed with Co-host of Bloomberg Surveillance Lisa Abramowicz the current challenges facing the airline industry including rising fuel costs and their impact on ticket pricing. (Source: Bloomberg)
UK Cop Fired For Questioning Islam In 'Safe Space' Authored by Steve Watson via Modernity , A Christian police community support officer lost his career after asking a Muslim colleague about jihad and Hamas atrocities during a diversity session that promised open discussion . At the same time, training drilled "white privilege" into police ranks. Luke Salmons, a 46-year-old Christian father of two...
UK Cop Fired For Questioning Islam In 'Safe Space' Authored by Steve Watson via Modernity , A Christian police community support officer lost his career after asking a Muslim colleague about jihad and Hamas atrocities during a diversity session that promised open discussion . At the same time, training drilled "white privilege" into police ranks. Luke Salmons, a 46-year-old Christian father of two and respected PCSO with North Yorkshire Police, relates how he attended a mandatory training day on race, religion and culture. Trainers spent several minutes marching up and down the room chanting "Islam is a religion of peace" repeatedly . A Muslim sergeant then spoke about his faith and invited questions in what was presented as a "safe space" where "there was no such thing as a bad question." Salmons asked what the sergeant, as a peaceful Muslim, thought about the situation in Gaza and atrocities carried out by Hamas and other groups in the name of Islam . He also asked what jihad meant to him. The discussion was civil. The sergeant later invited Salmons for coffee to continue the conversation privately. Christian police officer had his career ended for asking questions about jihad and radical Islam during a 'safe space' discussion on race and diversity. pic.twitter.com/rAxi5U8zYF - Patrick Christys (@PatrickChristys) June 5, 2026 Salmons brought a book on the topic to work. Colleagues photographed it in his locker and reported him as a risk. An inspector then suspended him, declaring "I don't like your beliefs." Salmons noted the obvious double standard: no inspector would ever say that to a Muslim officer. He was suspended on full pay for months, resigned under pressure in April 2025, and faced gross misconduct proceedings. Supported by the Christian Legal Centre, he appealed. Chief Constable Tim Forber overturned the dismissal before Salmons had even finished presenting his case. There was no apology and the episode devastated his family. " I loved my job and I was ...
MF3d/iStock via Getty Images In 2026, the major theme that has shaken the stock market and driven the rally to fresh new heights is investors piling into chip stocks, at the expense of software names that carry the fear of a "SaaSpocalypse": or the idea that generative AI models will become so powerful that they will render incumbent software platforms obsolete. Exceptions have been few, and Datad...
MF3d/iStock via Getty Images In 2026, the major theme that has shaken the stock market and driven the rally to fresh new heights is investors piling into chip stocks, at the expense of software names that carry the fear of a "SaaSpocalypse": or the idea that generative AI models will become so powerful that they will render incumbent software platforms obsolete. Exceptions have been few, and Datadog ( DDOG ) is one of them. The infrastructure monitoring software company has skyrocketed more than 70% this year as demand from AI-native companies has bolstered its growth trajectory. Shares have soared higher after a substantial beat-and-raise quarter released in early May. Data by YCharts I last wrote a buy rating on Datadog in February, when the stock was trading at a mere $114 per share. Since then, shares of Datadog have approximately doubled. And though I'm wary of valuation multiples at a time when the market is appearing to be more cautious on the sturdiness of the current rally, we also have to acknowledge that Datadog's fundamental performance is truly one of a kind. I reiterate my buy rating here. As a reminder for investors who are newer to Datadog, here are what I believe to be core bull case drivers for the company: Tremendous growth at scale with no signs at all of deceleration. Datadog is truly one of the rare few software companies that has reached a >$4 billion annualized revenue scale, and yet is still growing revenue at a >30% clip. Furthermore, growth rates are not at all decelerating, which offers concrete proof that the company is providing critical software infrastructure amid the AI transition, and that its market opportunity remains quite vast. Consumption-driven, and not seat-driven. To me, the primary negative impact that AI will have on software stocks is on the subset of the industry that prices primarily based on per-seat, per-month. Datadog, on the other hand, prices based on consumption and data volumes, which will only rise as AI expands...
Air France-KLM ( AFRAF ) ( AFLYY ) Chief Executive Ben Smith said the airline group would be willing to discuss a potential acquisition proposal involving EasyJet ( EJTTF ) if approached by private investment firm Castlelake, highlighting growing industry interest in the British budget carrier, Bloomberg News reported Sunday. Smith said Air France-KLM isn’t currently participating in any bid for E...
Air France-KLM ( AFRAF ) ( AFLYY ) Chief Executive Ben Smith said the airline group would be willing to discuss a potential acquisition proposal involving EasyJet ( EJTTF ) if approached by private investment firm Castlelake, highlighting growing industry interest in the British budget carrier, Bloomberg News reported Sunday. Smith said Air France-KLM isn’t currently participating in any bid for EasyJet. However, he noted that the low-cost airline's portfolio of airport slots across Europe makes it an attractive asset and helps explain why potential buyers are exploring a deal. The comments come after Castlelake disclosed that it is evaluating a possible offer for EasyJet. Under European Union ownership rules, a U.S.-based investment firm would likely need a European partner to complete any acquisition of an airline operating within the region. The prospect of consolidation is significant for investors because it underscores the strategic value of airport slots and route networks at a time when European airlines are seeking scale, stronger market positions and greater operating efficiency. Any takeover attempt could also trigger broader industry deal-making and affect valuations across the sector. Smith said Air France-KLM has worked with Castlelake before, including during the investor group's involvement in the rescue of Scandinavian airline SAS. Given that relationship, he indicated the company would be open to hearing any proposal the investment firm might bring forward. Asked whether he would take a call regarding a possible EasyJet transaction, Smith said he would and suggested other major airline groups would likely do the same. EasyJet has pushed back against the takeover interest, describing the approach as opportunistic and arguing that it does not reflect the airline's long-term value. The company has pointed to weakness in its share price as a factor behind the interest from potential buyers. According to Italian newspaper Corriere della Sera, Castlelake...
PM Images/DigitalVision via Getty Images Executive Summary AI stocks fall into two categories. There's the 'exciting' category; this includes chip makers, server providers, software developers, and cloud platform providers. This group generates excitement and can create sharp multiple expansion due to increased interest in AI. Then there are the companies that make the AI boom physically possible....
PM Images/DigitalVision via Getty Images Executive Summary AI stocks fall into two categories. There's the 'exciting' category; this includes chip makers, server providers, software developers, and cloud platform providers. This group generates excitement and can create sharp multiple expansion due to increased interest in AI. Then there are the companies that make the AI boom physically possible. These include those involved in building large scale power generation systems required to support the U.S. driven by data center growth, reshoring, electric vehicle adoption and broader electrification, etc., turning into tangible growth in the economy. This is where Argan ( AGX ) comes in. Argan is not developing a new chatbot or developing a new type of GPU. Argan is not creating a new layer of software that could potentially be revolutionary. Instead, Argan develops power generation infrastructure. More specifically, they help develop large scale electrical generating systems that will need to be built in order to meet the electrical needs of all of these new developments, including data centers, reshoring and EV adoption and allow them to transition from investor pitches into actual economic growth. I first expressed my positive views regarding Argan in July 2025 when I wrote an article called " Argan: The Stock That Could Fuel America's AI ." At that time, many investors viewed Argan as a specialized EPC contractor with a large backlog. However, I believed that many investors were failing to realize just how much of an impact increasing electricity demand will play within the AI development cycle and how valuable of a player qualified contractors such as Argan will become given the current shortage of execution capacity. As per Seeking Alpha's performance tracking system, Argan has gained over 230% since I wrote about it versus approximately 18% for the S&P 500. Seeking Alpha On the other hand, I have to tell you that Argan is no longer a "cheap" stock. With respect t...
A 68-year-old retiree who moved $180,000 out of stocks and into the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) in late 2024 was making a directional rate bet. The pitch was clean: lock in a 4.5% long-bond yield before the Federal Reserve cut rates, then collect price appreciation on top of monthly coupons. The 20-year ... If You Hold This 20 Year Treasury ETF You Are Losing Money Even With Yi...
A 68-year-old retiree who moved $180,000 out of stocks and into the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) in late 2024 was making a directional rate bet. The pitch was clean: lock in a 4.5% long-bond yield before the Federal Reserve cut rates, then collect price appreciation on top of monthly coupons. The 20-year ... If You Hold This 20 Year Treasury ETF You Are Losing Money Even With Yields Up
Search enters second day after Saturday shooting that wounded 12, two reported in critical condition, police say Organizers of a festival in the historic center of Toledo, Ohio, have cancelled planned events on Sunday as police continue the search for at least two shooters who wounded 12 people a day earlier. The Toledo police deputy chief, Joseph Heffernan, said the shooters were “probably shooti...
Search enters second day after Saturday shooting that wounded 12, two reported in critical condition, police say Organizers of a festival in the historic center of Toledo, Ohio, have cancelled planned events on Sunday as police continue the search for at least two shooters who wounded 12 people a day earlier. The Toledo police deputy chief, Joseph Heffernan, said the shooters were “probably shooting at each other” when gunfire erupted just after 5.30pm near the Old West End festival, an annual gathering of live music and architectural home tours. Continue reading...
Coherent and Flex OS, to Lisa and Mac OS. | Image: Virtual OS Museum The Virtual OS Museum isn't a physical place, it's a collection of over 1,700 distinct installations of over 600 operating systems for over 250 platforms that you can download and run via emulation right on your computer. It's largely the work of one man, Andrew Warkentin , a developer and OS historian who has been slowly buildin...
Coherent and Flex OS, to Lisa and Mac OS. | Image: Virtual OS Museum The Virtual OS Museum isn't a physical place, it's a collection of over 1,700 distinct installations of over 600 operating systems for over 250 platforms that you can download and run via emulation right on your computer. It's largely the work of one man, Andrew Warkentin , a developer and OS historian who has been slowly building his collection of OS images since 2003. The library spans nearly the entire history of computing from 1948's Manchester Baby , the first stored computer program, to early builds of Android from 2011. Unsurprisingly, there are a lot of obscure OSes in there, including countless DOS variants, MOS for the Acorn BBC Mas … Read the full story at The Verge.
Income investors who own Putnam BDC Income ETF (NYSEARCA:PBDC) just absorbed a meaningful distribution cut. PBDC paid $0.71273 per share in April 2026, down from $0.8251 the prior quarter, a roughly 14% step down. With shares near $27 and the trailing four payouts implying a yield close to 11%, the question is whether that double-digit ... PBDC Holders Face a Hard Question About Sustainability
Income investors who own Putnam BDC Income ETF (NYSEARCA:PBDC) just absorbed a meaningful distribution cut. PBDC paid $0.71273 per share in April 2026, down from $0.8251 the prior quarter, a roughly 14% step down. With shares near $27 and the trailing four payouts implying a yield close to 11%, the question is whether that double-digit ... PBDC Holders Face a Hard Question About Sustainability
Microsoft declared its Majorana 2 topological quantum processor, a second-generation chip aimed at significantly improving qubit reliability and scalability. Wedbush described it as 'another validation' for the broader quantum computing industry.
Microsoft declared its Majorana 2 topological quantum processor, a second-generation chip aimed at significantly improving qubit reliability and scalability. Wedbush described it as 'another validation' for the broader quantum computing industry.
ohmygouche/iStock via Getty Images Co-authored with Beyond Saving. The investment world can broadly be differentiated into two types of stocks. "Growth" stocks are companies that are expected to grow aggressively. They are often reinvesting significant amounts of capital into growing their business. As a result, they typically pay little to nothing in dividends. Their share price typically trades ...
ohmygouche/iStock via Getty Images Co-authored with Beyond Saving. The investment world can broadly be differentiated into two types of stocks. "Growth" stocks are companies that are expected to grow aggressively. They are often reinvesting significant amounts of capital into growing their business. As a result, they typically pay little to nothing in dividends. Their share price typically trades based on the expectations of future earnings more than on future earnings. Companies that are in new, developing, and transforming industries tend to be Growth stocks. Growth stocks can be very profitable if growth is as much or more than anticipated. They can be a disaster if the expected growth never arrives. "Value" stocks are companies that aren't expected to grow quickly. They tend to have growth rates in the mid-single digits. Capital expenditures tend to be primarily "maintenance" CapEx, which means it is capital that is primarily intended to maintain the current infrastructure. They tend to be companies that are in mature industries, where the business models are proven and relatively stable. For investors, the benefit is stability and predictability. It's a profitable business with substantial cash flow right now. That cash flow is often shared with investors through dividends. As income investors, it is natural that we find ourselves overweight in "Value" stocks. The reason is simple; we focus on investments that produce cash flow today, and since Value stocks pay higher dividends, we end up buying Value stocks. You are never going to find Nvidia ( NVDA ) in our portfolio. That isn't because we believe NVDA is a bad investment; it's because NVDA doesn't meet our investment goals. One way we can gain some exposure to these companies while also meeting our income goals for our portfolio is to invest in CEFs (closed-end funds). CEFs buy and sell stocks following a particular strategy and then pass along the total return to shareholders in the form of dividends. Let's...
Sven Piper/iStock Editorial via Getty Images As SpaceX ( SPCX ) prepares to price its long-awaited initial public offering at a valuation of roughly $1.77 trillion, one prominent valuation expert argues the company is worth substantially less. Aswath Damodaran, the NYU Stern School of Business professor often referred to as the "dean of valuation," estimates SpaceX's equity value at about $1.3 tri...
Sven Piper/iStock Editorial via Getty Images As SpaceX ( SPCX ) prepares to price its long-awaited initial public offering at a valuation of roughly $1.77 trillion, one prominent valuation expert argues the company is worth substantially less. Aswath Damodaran, the NYU Stern School of Business professor often referred to as the "dean of valuation," estimates SpaceX's equity value at about $1.3 trillion. He outlined his analysis in an interview on The Wall Street Journal's Take On the Week podcast. Damodaran said a major source of disagreement is SpaceX's ( SPCX ) assumptions about the potential size of its artificial intelligence business, which includes xAI and the Grok chatbot following the company's acquisition of xAI earlier this year. In IPO documents, SpaceX ( SPCX ) estimated the addressable market for its AI operations at roughly $26 trillion, representing the vast majority of the company's projected $28.5 trillion total market opportunity. Damodaran said those assumptions stretch the bounds of plausibility. For investors, the debate highlights a central question surrounding what could become one of the largest IPOs in history: whether SpaceX's ( SPCX ) valuation is supported by fundamentals or by expectations for future growth in AI. The answer could influence not only SpaceX's post-listing performance but also sentiment toward other high-growth technology and AI companies trading at premium valuations. Damodaran built his estimate by separately valuing SpaceX's three core businesses: rocket launches, Starlink satellite internet services and artificial intelligence. He assessed each unit's market opportunity, likely market share and potential profit margins. He described the AI segment as the company's least mature and furthest from profitability. Despite valuing SpaceX ( SPCX ) below its proposed IPO level, Damodaran cautioned that the stock could still perform well after listing. Given the company's profile and investor enthusiasm, he said trading could b...
Meta (NASDAQ: META) and NVIDIA (NASDAQ: NVDA) both just delivered headline-grabbing quarters, but from opposite sides of the AI capex trade. Meta is writing the checks. NVIDIA is cashing them. With $10,000 in hand, the question is whether you want the buyer of compute at a discount or the seller of compute near record highs. ... Got $10,000? Meta vs Nvidia: The Better Opportunity Right Now
Meta (NASDAQ: META) and NVIDIA (NASDAQ: NVDA) both just delivered headline-grabbing quarters, but from opposite sides of the AI capex trade. Meta is writing the checks. NVIDIA is cashing them. With $10,000 in hand, the question is whether you want the buyer of compute at a discount or the seller of compute near record highs. ... Got $10,000? Meta vs Nvidia: The Better Opportunity Right Now
ABB and NVIDIA are expanding their collaboration to integrate advanced AI infrastructure into data centers, including digital twins and coordinated power and automation systems. ABB plans to divest ABB Robotics to SoftBank Group, with closing described as imminent, setting up a new ownership structure for the robotics unit. Both moves point to a reshaping of ABB's role in AI infrastructure and rob...
ABB and NVIDIA are expanding their collaboration to integrate advanced AI infrastructure into data centers, including digital twins and coordinated power and automation systems. ABB plans to divest ABB Robotics to SoftBank Group, with closing described as imminent, setting up a new ownership structure for the robotics unit. Both moves point to a reshaping of ABB's role in AI infrastructure and robotics, with potential knock on effects for partners and competitors across these markets. ABB...