Good morning . SK Hynix prices its $26.5 billion US share listing. South Korea looks to devote its chip windfall to young people. And Tokyo bar patrons are being forced to pay cash again. Listen to the day’s top stories . Market Snapshot S&P 500 7,543.64 +0.8% Brent Crude Futures $76.04 -2.5% Meta Platforms $631.48 +4.7% Market data as of 05:05 PM ET. Data is subject to provider delays. SK Hynix p...
Good morning . SK Hynix prices its $26.5 billion US share listing. South Korea looks to devote its chip windfall to young people. And Tokyo bar patrons are being forced to pay cash again. Listen to the day’s top stories . Market Snapshot S&P 500 7,543.64 +0.8% Brent Crude Futures $76.04 -2.5% Meta Platforms $631.48 +4.7% Market data as of 05:05 PM ET. Data is subject to provider delays. SK Hynix priced its US listing at $149 per American depositary receipts, people familiar with the matter said. The potential $26.5 billion offering would top Alibaba as the largest ever first-time share sale in the US by a foreign company. Demand approached $200 billion, according to the deal term sheet. Meta Platforms unveiled a version of its most advanced artificial intelligence model, Muse Spark 1.1, that includes a new paid tier for developers , the first time it has charged businesses for access to its models. Chief Executive Officer Mark Zuckerberg said he’s also considering whether some of Meta’s AI infrastructure may be more valuable if rented to outsiders . The US military said it struck about 90 Iranian targets overnight to degrade the Islamic Republic’s ability to threaten shipping in the Strait of Hormuz. Tehran reported strikes on the perimeter of a nuclear power plant and two railway bridges connecting the capital to the city of Mashhad, the site of former Supreme Leader Ali Khamenei’s burial . China Climate Plan Pushes Renewables in Factories, Data Centers Read more Taiwan is bracing for Typhoon Bavi , closing Taipei schools and the stock exchange. The storm has already dropped torrential rains in China and is forecast to cross the coast of Fujian province Saturday. It may ease in intensity as it interacts with Taiwan’s landmass on its approach to mainland China, but still poses a formidable threat. Indonesia officially launched its 50% palm-diesel blend , an initiative to divert more palm oil for domestic use while reducing reliance on imported fuel. The government e...
Harry Brook hit an unbeaten 79 to guide England to a nine-wicket win against India in Bristol, to go 3-0 in the five match series and secure their first T20 series win against the tourists.
Harry Brook hit an unbeaten 79 to guide England to a nine-wicket win against India in Bristol, to go 3-0 in the five match series and secure their first T20 series win against the tourists.
MoMo Productions/DigitalVision via Getty Images Every so often, I decide to make a concerted effort to better understand an industry that I did not have significant exposure to in the past. In 2023, for instance, it was the banking sector. This year, I decided it would be for-profit education. I have analyzed multiple companies in the industry. But one of them that I have not looked at until now i...
MoMo Productions/DigitalVision via Getty Images Every so often, I decide to make a concerted effort to better understand an industry that I did not have significant exposure to in the past. In 2023, for instance, it was the banking sector. This year, I decided it would be for-profit education. I have analyzed multiple companies in the industry. But one of them that I have not looked at until now is Grand Canyon Education, Inc. ( LOPE ). With a market capitalization of $3.81 billion, the company is a pretty sizable player out there. It generates meaningful revenue and has achieved steady and consistent growth on the top and bottom lines. This year, it looks set to continue that expansion. This is great in and of itself. However, my one problem with the company is that it's not quite cheap enough to be all that attractive to me. I don't mean that by a long shot. In fact, I struggled with whether to rate this a ‘buy’ or ‘hold.’ But at the end of the day, I believe that taking the more cautious approach and rating it a ‘hold’ is the right move. Of course, I'm willing to admit that I could be wrong. In fact, I would prefer that I am. I always love to see companies succeed. The good news is that we will soon have a chance to see how well my thesis is playing out. I say this because, after the market closes on July 30th, management will be announcing financial results for the second quarter of the company's 2026 fiscal year. As we approach that date, analysts are optimistic about revenue and profitability both rising. But unless something major and unexpected comes out of the woodwork, I don't think that upgrading the stock is likely. Learning More About Grand Canyon Education According to the management team at Grand Canyon Education, the company operates as an education services company that serves colleges and universities. It has developed technological solutions, infrastructure and operational processes, and more, in order to provide services to institutions at scale....
Four Corners Property Trust ( FCPT ) announced the acquisition of a Gerber Collision property for $4.8M. The company highlighted the property is newly constructed and located in a strong retail corridor in Texas and corporate-operated under a net lease with approximately four years of term remaining. The firm added the transaction was priced at a 7.0% cap rate, including rent credits received at c...
Four Corners Property Trust ( FCPT ) announced the acquisition of a Gerber Collision property for $4.8M. The company highlighted the property is newly constructed and located in a strong retail corridor in Texas and corporate-operated under a net lease with approximately four years of term remaining. The firm added the transaction was priced at a 7.0% cap rate, including rent credits received at closing and exclusive of transaction costs. Source: press release More on Four Corners Property Trust Four Corners Property: Buy This Undervalued Net Lease REIT Four Corners Property Trust, Inc. 2026 Q1 - Results - Earnings Call Presentation Four Corners Property Trust, Inc. (FCPT) Q1 2026 Earnings Call Transcript FCPT acquires Gerber Collision property for $3.5M FCPT signals $200M term loan deployment through Q3 as it targets 5.4x run-rate leverage
Panama7/iStock via Getty Images Bausch + Lomb ( BLCO ) said it would end development of BL1107, an eye drop for glaucoma, after the candidate missed its primary goal in a phase 2 study. BL1107 did not lead to visual function improvements after 28 days of treatment. In a smaller phase 1/2a study, improvement was seen. However, the company said it will continue to pursue the asset as a s ustained-re...
Panama7/iStock via Getty Images Bausch + Lomb ( BLCO ) said it would end development of BL1107, an eye drop for glaucoma, after the candidate missed its primary goal in a phase 2 study. BL1107 did not lead to visual function improvements after 28 days of treatment. In a smaller phase 1/2a study, improvement was seen. However, the company said it will continue to pursue the asset as a s ustained-release implant for geographic atrophy. Trials for that indication are expected to start in 2028. More on Bausch + Lomb Bausch + Lomb Corporation (BLCO) Presents at Goldman Sachs 47th Annual Global Healthcare Conference 2026 Transcript Bausch + Lomb Corporation (BLCO) Discusses Project Halo and Myopia Control Developments in Vision Care Transcript Bausch + Lomb Corporation (BLCO) Discusses Project Halo and Myopia Control Developments in Vision Care - Slideshow Most and least shorted mid- to mega-cap healthcare stocks at the end of May Jazz, AstraZeneca, Astellas: Foreign Healthcare's strongest Quant picks
US President Donald Trump’s negative portrayal of China’s achievements in renewable energy began at a White House meeting with oil executives on January 9 and was amplified at the World Economic Forum later that month. The story he told was shaped more by domestic politics than fact – a narrative that has lingered through subsequent debates over China’s alleged clean-energy “overcapacity”. While s...
US President Donald Trump’s negative portrayal of China’s achievements in renewable energy began at a White House meeting with oil executives on January 9 and was amplified at the World Economic Forum later that month. The story he told was shaped more by domestic politics than fact – a narrative that has lingered through subsequent debates over China’s alleged clean-energy “overcapacity”. While such rhetoric might rally support in the American Midwest, it does not withstand scrutiny. Trump’s...
Activist investor Donerail Group is urging the board of Beazer Homes USA Inc. to engage with potential buyers after rival homebuilder Dream Finders Homes Inc. boosted its takeover offer this week. Donerail, in a letter published Thursday, said DFH’s latest offer of $32-a-share cash bid is “a more than sufficiently attractive offer price” for Beazer’s board to grant DFH and any other credible buyer...
Activist investor Donerail Group is urging the board of Beazer Homes USA Inc. to engage with potential buyers after rival homebuilder Dream Finders Homes Inc. boosted its takeover offer this week. Donerail, in a letter published Thursday, said DFH’s latest offer of $32-a-share cash bid is “a more than sufficiently attractive offer price” for Beazer’s board to grant DFH and any other credible buyers full access to the information required to do due diligence. The investor, who said it’s one of Beazer’s largest shareholders, said it supported Beazer board’s decision in May to reject DFH’s earlier offer. “We believe the situation has fundamentally shifted,” Will Wyatt , Donerail’s managing partner, wrote in the letter. “In our view, rejecting these overtures is no longer warranted.” A representative for Beazer didn’t immediately respond to a request for comment. Beazer rose 1.2% on Thursday in New York, giving the company a market value of about $859 million. The shares are up 55% this year amid the takeover chatter. Bloomberg News reported that Beazer received a new offer from DFH that was roughly 24% higher than a previous proposal of $25.75 a share, which it rejected. The new bid values Beazer at about $875 million. Beazer said it’s also received interest from other potential suitors. Beazer said in May that it has rejected multiple offers from DFH that it said undervalued the company and weren’t in the best interest of shareholders. Donerail said it has a cautious view that Beazer can meaningfully grow its earnings as a standalone company, particularly when weighed against risks in the current macro environment. It added that it believed Beazer was reluctant to engage with DFH because past offers were at a significant discount to the company’s book value per share of $41.83. Donerail said it was surprised to learn that Beazer has declined to offer DFH a bespoke confidentiality and standstill agreement. Beazer previously told DFH that a suitor would have to sign an ...
The dollar index (DXY00 ) fell by -0.08% on Thursday. The dollar moved lower on Thursday as strength in stocks reduced liquidity demand for the currency. Also, Thursday’s -2% fall in crude oil prices lowered inflation expectations and could prompt the Fed to ease monetary policy, a bearish factor for...
The dollar index (DXY00 ) fell by -0.08% on Thursday. The dollar moved lower on Thursday as strength in stocks reduced liquidity demand for the currency. Also, Thursday’s -2% fall in crude oil prices lowered inflation expectations and could prompt the Fed to ease monetary policy, a bearish factor for...
jetcityimage/iStock Editorial via Getty Images Overview: Despite Price Growth Since 2023, This Bank Still Has Reason for Bulls to Charge Every so often I pick out of my hat an anniversary article, and this time I venture into the regional banking sector to follow up on Regions Financial Corporation ( RF ), the parent of Alabama-based Regions Bank, who is now up around +66% since I first called it ...
jetcityimage/iStock Editorial via Getty Images Overview: Despite Price Growth Since 2023, This Bank Still Has Reason for Bulls to Charge Every so often I pick out of my hat an anniversary article, and this time I venture into the regional banking sector to follow up on Regions Financial Corporation ( RF ), the parent of Alabama-based Regions Bank, who is now up around +66% since I first called it a buy in the summer of 2023 . Over the last 3 years, it continued to rise since my subsequent bullish and hold ratings, and this month it made regional media headlines for announcing it is buying investment banking firm Frazer Lanier , adding further to its growth story. That is interesting timing, and a good segue to preview this stock ahead of its next earnings results in about a week, after it beat estimates for its last results in mid-April. As a recap from my prior coverage, what I loved about Regions is its ability to grow just that, its non-lending segments, but also its undervaluation at the time. After my updated research and 7-point analysis, I'm calling this stock a buy once again, and this time the key catalysts I would call out are growth through acquisition, loans, and non-loan segments like wealth, while also maintaining an investment-grade rating, improved loan performance metrics, and reasonable valuation compared to its sector. RF - rating worksheet (author) Since the worksheet above is meant to be a brief overview of rating drivers and not a sports score chart from the World Cup, read on to better understand what factors influenced my approach to each section. Positioning: Solid Market Momentum, ROE, and Brand Expansion, Yet Mortgage Headwinds Remain Where I typically position this name is among US-based regional banks, so for comparables I picked these three from the regional banking niche and in the market cap range of $17-$40 billion: Citizens Financial Group, Inc. ( CFG ), Huntington Bancshares Incorporated ( HBAN ), and East West Bancorp, Inc. ( EWBC...
Getty Images From Enterprise Software to NAND Memory As some of you may be aware, software companies such as Adobe ( ADBE ), Intuit ( INTU ), Salesforce ( CRM ), and ServiceNow ( NOW ) account for a meaningful portion of my personal portfolio. In fact, those four companies alone have a combined weight slightly above 22% as of today. This elevated concentration reflects my personal conviction that ...
Getty Images From Enterprise Software to NAND Memory As some of you may be aware, software companies such as Adobe ( ADBE ), Intuit ( INTU ), Salesforce ( CRM ), and ServiceNow ( NOW ) account for a meaningful portion of my personal portfolio. In fact, those four companies alone have a combined weight slightly above 22% as of today. This elevated concentration reflects my personal conviction that fears of disruption surrounding enterprise software companies have been grossly overstated. After updating my investment thesis on Salesforce recently, I think it is becoming increasingly clear that many of those companies will benefit from artificial intelligence over time rather than being disrupted by it. This is a view in sharp contrast to what is implied by current market prices, and I am perfectly fine with that. After all, without a contrarian nature, I would not have left Toronto to go live in the wilderness of Northern Québec . Being contrarian for the sake of being contrarian is meaningless, but when I look at the performance of CRM's Agentforce 360 Platform, I tell myself that my contrarianism is backed by tangible facts in this particular case. The Agentforce 360 Platform ended Q1-27 with $1.2 billion in annual recurring revenue, representing an increase of 205% on a year-over-year basis. If market sentiment is deeply negative around software stocks, it is the perfect opposite when it comes to memory developers and manufacturers like Sandisk Corporation ( SNDK ) and Micron ( MU ). Semiconductors like NAND and DRAM memory have become bottlenecks in the AI supply chains. Prices have surged to levels few thought possible just a few years ago, and both SNDK and MU have delivered extraordinary share price gains. Sandisk and Micron have now become the two rockstars of the AI infrastructure boom, and in a way, it is precisely where the problem lies. What is even more impressive in Sandisk's surge of ~3,750% over the last year is not only its pace but also its magnitude...
Key PointsThe Vanguard Consumer Staples ETF features a significantly lower expense ratio and larger assets under management than Invesco S&P 500 Equal Weight Consumer Staples ETF.
Key PointsThe Vanguard Consumer Staples ETF features a significantly lower expense ratio and larger assets under management than Invesco S&P 500 Equal Weight Consumer Staples ETF.
Last year, when we tested out the "Agent Mode" in OpenAI's Atlas web browser , we complained that any automated tasks tended to stop after a few minutes, limiting its usefulness for ongoing or complex tasks. With today's release of ChatGPT Work , OpenAI says it has solved that problem with a new tool that can "stay with a project for hours if needed, and turn a goal into finished work." The compan...
Last year, when we tested out the "Agent Mode" in OpenAI's Atlas web browser , we complained that any automated tasks tended to stop after a few minutes, limiting its usefulness for ongoing or complex tasks. With today's release of ChatGPT Work , OpenAI says it has solved that problem with a new tool that can "stay with a project for hours if needed, and turn a goal into finished work." The company is challenging users to evaluate ChatGPT Work by "giv[ing] it a task you already know well," such as analyzing a budget or preparing a sales meeting. The company also promises that ChatGPT Work can automate entire workflows, going from customer research to a campaign brief to locally tailored marketing assets, for instance. At the same time, the company stresses that the tool will wait for you to "approve important actions." ChatGPT Work also integrates Scheduled Tasks, a souped-up version of cron jobs that can "take repetitive tasks off your plate" on a schedule or whenever a monitored event occurs. These tasks can keep going when you're away from your desk and can be monitored from your phone, the company says. Read full article Comments
The Spain goalkeeper Unai Simón has not conceded a goal at the World Cup and, worryingly for Belgium, he has not had to face that many shots “We’re the villains, there to stop the goals that football lives off,” Unai Simón says. If so, there has never been a bad guy as bad as him, the keeper who could do with an introduction from Don LaFontaine: In a World Cup dominated by forwards, one man resist...
The Spain goalkeeper Unai Simón has not conceded a goal at the World Cup and, worryingly for Belgium, he has not had to face that many shots “We’re the villains, there to stop the goals that football lives off,” Unai Simón says. If so, there has never been a bad guy as bad as him, the keeper who could do with an introduction from Don LaFontaine: In a World Cup dominated by forwards, one man resists … There were five minutes to go until half-time during Spain’s battle with Portugal in the last 16 when something historic happened, or there would have been if anything had actually happened. Instead, nothing did, which is the way Simón likes it. As the clock rolled into the 40th minute, Spain’s goalkeeper silently moved on to 560 World Cup minutes without conceding, taking in seven games and going all the way back to Ao Tanaka’s strike for Japan in Qatar. Against Austria in the last 32, he had already left Walter Zenga behind on 517, now he and Spain overtook Switzerland’s record: 559 minutes spread across 14 years and three tournaments in 1994, 2006 and 2010. The next minute, Nuno Mendes hit the bar, but still Simón would not be beaten, Mikel Merino’s 90th minute winner the only goal of the game. Continue reading...