Aerial view of yachts moored in the Port Vell marina of Barcelona, Spain Busà Photography | Moment | Getty Images A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Soaring stock markets created nearly 2 million new millionaires around ...
Aerial view of yachts moored in the Port Vell marina of Barcelona, Spain Busà Photography | Moment | Getty Images A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Soaring stock markets created nearly 2 million new millionaires around the world last year, with the ultra rich seeing the strongest growth, according to a new study. The population of global millionaires surged 7.9% to 25.3 million in 2025, according to the Capgemini World Wealth Report. Their total wealth increased by 8.7% to $98.3 trillion, marking the fastest growth in five years. At the same time, a wealth gap between millionaires and the ultra wealthy continues to widen. The increasing wealth of millionaires — defined by Capgemini as those with $1 million or more in investible assets, excluding primary home, collectibles and consumer goods — was outpaced by the growth of so-called "ultra-high-net-worth individuals (UHNWI)," or those with $30 million or more. The population of UHNWIs grew 9.4% in 2025, to 250,000, and their fortunes grew 9.7%, according to the report. UHNWIs now represent 1% of the overall millionaire population, but they hold 35% of all millionaire wealth, according to the study. Gareth Wilson, global banking industry lead at Capgemini, said one reason the ultra wealthy are outpacing millionaires is their access to higher-returning private investments. "They have access to investments and opportunities that aren't afforded even to the millionaires next door, whether it be pre-IPO investments or private markets," Wilson said. "When you look at those individuals who have investable assets at that scale, they probably have more influence in terms of access to some of the hedge funds, access to the private markets, and they're probably afforded access to some other kind of pre-IPO investments that us mere mortals probably do...
SAN FRANCISCO, June 04, 2026--Pinterest, Inc. (NYSE: PINS) announced a major expansion of its collaboration with Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), its Preferred Cloud Services Provider, including a planned $4 billion commitment for cloud services through 2031. The agreement is the largest infrastructure commitment in Pinterest’s history and is expected to accel...
SAN FRANCISCO, June 04, 2026--Pinterest, Inc. (NYSE: PINS) announced a major expansion of its collaboration with Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), its Preferred Cloud Services Provider, including a planned $4 billion commitment for cloud services through 2031. The agreement is the largest infrastructure commitment in Pinterest’s history and is expected to accelerate the company’s AI roadmap, provide a more responsive search and shopping experience, and furthe
Getty Images A possible SpaceX-Tesla merger makes for a near term catalyst I've covered Tesla Inc. ( TSLA ) quite a few times. I've noted that the company is not driven by fundamentals; it's a catalyst-driven stock. More than possibly any time in the history of the market, we have superstar CEOs who are celebrities that make their way into pop culture. If we take a moment to think about it, whethe...
Getty Images A possible SpaceX-Tesla merger makes for a near term catalyst I've covered Tesla Inc. ( TSLA ) quite a few times. I've noted that the company is not driven by fundamentals; it's a catalyst-driven stock. More than possibly any time in the history of the market, we have superstar CEOs who are celebrities that make their way into pop culture. If we take a moment to think about it, whether you grew up in the 60s, 70s, 80s, 90s, or even earlier, how many CEOs of large corporations did you know of? For myself personally, as a kid of the 80s and 90s, I knew none. Elon Musk, on the other hand, is someone my kid and others could recognize pretty quickly. While this means nothing for the market, the point is that several CEOs have their fingers on the pulse of social media and know how to sell a story that can sell a vision beyond fundamentals. The last time we were possibly here was in the late 90s with the internet, but I would surmise that the storytelling power is even more intense with state-of-the-art earnings presentations and social media storytellers that follow many stocks very closely. Long story short, I think a possible Tesla-SpaceX merger is a catalyst and one that could finally help the company realize its global network of autonomous vehicles. Year-to-date performance vs. the Mag 7 Data by YCharts Year to date, Tesla is one of 3 Mag 7 names with negative price returns. The others are Microsoft ( MSFT ) and Meta ( META ) . The irony here is that both Meta and Microsoft have had improving fundamentals, and Tesla has had deteriorating metrics. Data by YCharts For the trailing 12 months, Tesla has had by far the worst EPS pullback of this group and tepid top line growth. Data by YCharts EV/EBITDA-wise, a far more generous metric than GAAP earnings, shows Tesla trading at stratospherically high valuations with no near term realistic projection in sight to push this down more into the realm of where the rest of the Mag 7 trades. This stock has levitated...
Today, Fuel Cycle, the AI-powered consumer intelligence platform trusted by Fortune 500 brands, announced the appointment of Daryush Laqab as Chief Product & AI Officer, effective June 1, 2026. Daryush joins Fuel Cycle with more than 20 years of experience building and scaling enterprise AI products at some of the world's most influential technology companies.
Today, Fuel Cycle, the AI-powered consumer intelligence platform trusted by Fortune 500 brands, announced the appointment of Daryush Laqab as Chief Product & AI Officer, effective June 1, 2026. Daryush joins Fuel Cycle with more than 20 years of experience building and scaling enterprise AI products at some of the world's most influential technology companies.
TrueCar, one of the most recognized and trusted automotive brands, today announced two key hires: automotive industry veteran Syl Raymond as Senior Director of OEM, and former Tesla and Marsh executive Nik Huyeng as Vice President of Insurance and Ancillary.
TrueCar, one of the most recognized and trusted automotive brands, today announced two key hires: automotive industry veteran Syl Raymond as Senior Director of OEM, and former Tesla and Marsh executive Nik Huyeng as Vice President of Insurance and Ancillary.
Wonder, the mealtime platform, announced new Grubhub integrations with Eater, Beli, Amazon's Alexa+, and Bilt. Together, these integrations expand how diners discover restaurants, bring more rewards into the ordering experience, and deepen engagement across the customer journey.Each integration reflects a continued focus on meeting diners where they are—seamlessly connecting inspiration to purchas...
Wonder, the mealtime platform, announced new Grubhub integrations with Eater, Beli, Amazon's Alexa+, and Bilt. Together, these integrations expand how diners discover restaurants, bring more rewards into the ordering experience, and deepen engagement across the customer journey.Each integration reflects a continued focus on meeting diners where they are—seamlessly connecting inspiration to purchase—while creating new, incremental demand opportunities for the more than 415,000 restaurants in Grub
DUBLIN, Ohio, June 04, 2026--TEN, an end-to-end leasing, financing, fleet solutions, and maintenance company, has appointed Ari Silkey as Chief Operating Officer.
DUBLIN, Ohio, June 04, 2026--TEN, an end-to-end leasing, financing, fleet solutions, and maintenance company, has appointed Ari Silkey as Chief Operating Officer.
Ford May Sales Plunge -13.6%, But UBS Says 2026 Remains On Track Ford reported U.S. sales of 190,828 units in May, down 13.6% year over year, bringing year-to-date sales to 826,810 units, down 11%. The declines were broad-based, reflecting ongoing weakness in EV demand and continued portfolio shifts away from certain lower-margin vehicles. EV sales fell nearly 44% during the month, while hybrid sa...
Ford May Sales Plunge -13.6%, But UBS Says 2026 Remains On Track Ford reported U.S. sales of 190,828 units in May, down 13.6% year over year, bringing year-to-date sales to 826,810 units, down 11%. The declines were broad-based, reflecting ongoing weakness in EV demand and continued portfolio shifts away from certain lower-margin vehicles. EV sales fell nearly 44% during the month, while hybrid sales declined 16%. Among key nameplates, Mustang Mach-E and F-150 Lightning both posted declines of roughly 45%, while Escape sales fell more than 80% as Ford continues to de-emphasize the model. Offsetting some of the weakness, Bronco, Explorer, Maverick, Transit and Heavy Trucks all delivered year-over-year growth. The sales results generally appeared consistent with management commentary at the UBS Autos and Auto Tech Conference, where Ford indicated that industry demand trends in May unfolded largely as expected. Executives specifically noted that some of the volume declines associated with products such as Escape were anticipated as the company continues shifting its mix toward higher-margin vehicles. More importantly, management reiterated that 2026 is tracking in line with expectations outlined during first-quarter earnings. A key focus remains the recovery from the Novelis aluminum supply disruption, which is expected to result in $1.5 billion to $2.0 billion of incremental costs this year. Ford incurred approximately $300 million of those costs during the first quarter and expects the impact to increase during the second and third quarters before easing as Novelis returns to full capacity in the fourth quarter. According to management, the recovery remains largely on track despite some expected unevenness along the way. The company also remains comfortable absorbing an estimated $2 billion year-over-year commodity headwind, which is fully incorporated into Ford's $8.5 billion to $10 billion adjusted EBIT guidance. Management additionally pointed to stable pricing co...
You're dreading your 2026 required minimum distribution (RMD) because you know it's going to inflate your tax bill. But skipping it won't do you any good. Then, you'd face a 25% penalty on the untaken RMD. You'd like a way to reduce your future RMDs, but doing a Roth IRA conversion could also raise your taxes. It might seem like an impossible bind, but the right strategy can help you fulfill your ...
You're dreading your 2026 required minimum distribution (RMD) because you know it's going to inflate your tax bill. But skipping it won't do you any good. Then, you'd face a 25% penalty on the untaken RMD. You'd like a way to reduce your future RMDs, but doing a Roth IRA conversion could also raise your taxes. It might seem like an impossible bind, but the right strategy can help you fulfill your 2026 RMD and reduce your future RMDs without sending your tax bill sky-high. Image source: Getty Images. Continue reading
DanielPrudek/iStock via Getty Images Investment Thesis As the AI data center boom started to take shape, it quickly became evident that nuclear power had to play a significant role in meeting the massive growth in demand. Duke Energy Corporation ( DUK ) is already a top producer of nuclear power in the U.S., and it is looking to build out its capacity in response to the growing demand driven by th...
DanielPrudek/iStock via Getty Images Investment Thesis As the AI data center boom started to take shape, it quickly became evident that nuclear power had to play a significant role in meeting the massive growth in demand. Duke Energy Corporation ( DUK ) is already a top producer of nuclear power in the U.S., and it is looking to build out its capacity in response to the growing demand driven by the AI boom. Its decision to reach out to the tech sector to seek partners in new nuclear power projects is capital-intensive upfront, with long lead times before energy production commences, with revenues flowing in from such long-time-horizon investments. As is the case with most utility companies, Duke is facing high debt-servicing costs from prior investments. Thus, it might be unwise to take on new large-scale nuclear projects without seeking out partners. Maintaining a Buy Rating on the Recent Dip I last covered Duke Energy in February, when I had it as a Buy. At that time, I owned Duke shares in my portfolio, and I raised my Buy target from $115 to $118 on decent quarterly results. Since then, I took profits on my position at over $130/share in March. Duke Energy stock price and other metrics (Seeking Alpha) Duke's share price has dipped to $120 since then. I am raising my Buy target at this price level on another solid quarterly result and improving long-term prospects. I recently added Duke shares to my portfolio, and I intend to add incrementally in the event that it declines further from here. Duke's Q1 Results Look Encouraging In the first three months of the year, Duke saw a sizable increase in revenues compared with the same period last year, with an 11% increase to $9.2 billion. Net income increased by a similar 11%, to $1.58 billion. Results beat expectations in terms of revenues and earnings. Some of the other notable results include a sizable increase in Duke's interest costs from $889 million in Q1, 2025, to $968 million in the latest quarter. Interest expe...
NicoElNino/iStock via Getty Images This article identifies the highest-quality dividend growth [DG] stocks using stringent quality screens, after a method introduced by David Van Knapp in an article published in May 2018 . To identify the highest-quality DG stocks, David screened the so-called CCC list of Dividend Champions, Contenders, and Challengers for stocks that placed in the top two scoring...
NicoElNino/iStock via Getty Images This article identifies the highest-quality dividend growth [DG] stocks using stringent quality screens, after a method introduced by David Van Knapp in an article published in May 2018 . To identify the highest-quality DG stocks, David screened the so-called CCC list of Dividend Champions, Contenders, and Challengers for stocks that placed in the top two scoring categories of each quality indicator in his Quality Snapshots system. I track more than 700 DG stocks in my database, many of which overlap with those on the CCC list. (I don’t track over-the-counter or pink sheet stocks). In this article, I use 9F Quality Scores , my new quality-scoring system that assigns scores on a 10-point scale across nine weighted factors. Each factor blends qualitative expert assessments with quantitative financial metrics. This article updates one I wrote in July 2024 . While the scoring system and universe of DG stocks are different, the general layout of this article is quite similar and, inevitably, uses similar descriptions and explanations. Quality Scoring 9F Quality Scores blend qualitative measures and quantitative metrics across the following factors: Dividend Safety Dividend Track Record Financial Strength Earnings and Revenue Growth Profitability and Earnings Quality Risk-Adjusted Returns Credit Rating and Capital Structure Moat & Competitive Advantage Governance and ESG I assign different weights to each factor, prioritizing those with the most impact on long-term returns. Dividend Safety gets the highest weight, followed by Earnings and Revenue Growth. Profitability and Earnings Quality, Financial Strength, and Dividend Track Record round out the top-tier factors. The remaining factors carry lower weights but add good context. Here’s how I map 9F Quality Scores to quality labels and investment grades: Created by the author Stock Valuation Rather than relying on a single model for stock valuation, I use a wisdom-of-the-crowds approach t...
Getty Images A possible SpaceX-Tesla merger makes for a near term catalyst I've covered Tesla Inc. ( TSLA ) quite a few times. I've noted that the company is not driven by fundamentals; it's a catalyst-driven stock. More than possibly any time in the history of the market, we have superstar CEOs who are celebrities that make their way into pop culture. If we take a moment to think about it, whethe...
Getty Images A possible SpaceX-Tesla merger makes for a near term catalyst I've covered Tesla Inc. ( TSLA ) quite a few times. I've noted that the company is not driven by fundamentals; it's a catalyst-driven stock. More than possibly any time in the history of the market, we have superstar CEOs who are celebrities that make their way into pop culture. If we take a moment to think about it, whether you grew up in the 60s, 70s, 80s, 90s, or even earlier, how many CEOs of large corporations did you know of? For myself personally, as a kid of the 80s and 90s, I knew none. Elon Musk, on the other hand, is someone my kid and others could recognize pretty quickly. While this means nothing for the market, the point is that several CEOs have their fingers on the pulse of social media and know how to sell a story that can sell a vision beyond fundamentals. The last time we were possibly here was in the late 90s with the internet, but I would surmise that the storytelling power is even more intense with state-of-the-art earnings presentations and social media storytellers that follow many stocks very closely. Long story short, I think a possible Tesla-SpaceX merger is a catalyst and one that could finally help the company realize its global network of autonomous vehicles. Year-to-date performance vs. the Mag 7 Data by YCharts Year to date, Tesla is one of 3 Mag 7 names with negative price returns. The others are Microsoft ( MSFT ) and Meta ( META ) . The irony here is that both Meta and Microsoft have had improving fundamentals, and Tesla has had deteriorating metrics. Data by YCharts For the trailing 12 months, Tesla has had by far the worst EPS pullback of this group and tepid top line growth. Data by YCharts EV/EBITDA-wise, a far more generous metric than GAAP earnings, shows Tesla trading at stratospherically high valuations with no near term realistic projection in sight to push this down more into the realm of where the rest of the Mag 7 trades. This stock has levitated...
Natali_Mis/iStock via Getty Images Shares of TG Therapeutics, Inc. ( TGTX ) ("TG") rallied yesterday after the company presented phase 1 results of subcutaneous ("SC") Briumvi. The results look as good as one would have expected, from bioavailability to safety and tolerability, and TG now looks well-positioned to have a new product offering that nearly doubles the addressable market. TG also conti...
Natali_Mis/iStock via Getty Images Shares of TG Therapeutics, Inc. ( TGTX ) ("TG") rallied yesterday after the company presented phase 1 results of subcutaneous ("SC") Briumvi. The results look as good as one would have expected, from bioavailability to safety and tolerability, and TG now looks well-positioned to have a new product offering that nearly doubles the addressable market. TG also continued to make commercial progress since my last update in November 2025 , addressing my concerns about slowing growth. I was out of the stock since early August 2025 due to these concerns while keeping it in my Coverage Universe with a bullish rating, and I bought the stock back yesterday after seeing the strong phase 1 results of SC Briumvi. The presentation of phase 1 results of SC Briumvi is a major de-risking event for the program SC Briumvi is widely considered as the next big growth driver for TG in the late 2020s and early 2030s. The strong uptake of Novartis’ ( NVS ) Kesimpta, the only real subcutaneously administered CD20 antibody in the market, is showing the increasing patient preference for convenient, at-home dosing with an autoinjector. Novartis Q1 2026 earnings presentation On the other hand, Ocrevus Zunovo, with its far less convenient dosing form, has seen limited uptake (please see my September 2024 article for a detailed overview of Ocrevus Zunovo and why I did not consider it a threat). Roche is not breaking out sales of intravenous Ocrevus and Ocrevus Zunovo, but the lack of the impact of Ocrevus Zunovo is evident. Roche earnings reports Having only the intravenous ("IV") Briumvi on the market means TG has been locked out of the rapidly growing subcutaneous market. But that should change soon as the phase 3 trial is fully enrolled with topline results expected in late 2026 or early 2027, followed by a potential launch in 2028. The phase 1 results of SC Briumvi that TG presented yesterday were a major de-risking event for this program, and the results wer...
Wolterk/iStock Editorial via Getty Images Following five consecutive sessions of losses, UnitedHealth Group ( UNH ) could open higher on Thursday after Bank of America upgraded the managed care giant to Buy from Neutral, citing, among other reasons, a favorable Q2 earnings setup. Referring to a BofA-compiled Trend tracker, analyst Kevin Fischbeck argued that the company’s Q1 outperformance was mor...
Wolterk/iStock Editorial via Getty Images Following five consecutive sessions of losses, UnitedHealth Group ( UNH ) could open higher on Thursday after Bank of America upgraded the managed care giant to Buy from Neutral, citing, among other reasons, a favorable Q2 earnings setup. Referring to a BofA-compiled Trend tracker, analyst Kevin Fischbeck argued that the company’s Q1 outperformance was more than a "function of weak flu and storms," which has led to lower medical utilization and boosted the company's profits. “Improving medical cost trends and supportive near-term data points set up a favorable 2Q earnings setup and attractive risk/reward,” Fischbeck wrote, raising his price target on the stock to $450 from $420 per share. “Incoming data points make it more difficult to believe that the strong Q1 was purely a function of weak flu and storms,” he added, noting that BofA is more bullish on MCOs in general heading into Q2 due to evidence indicating a lower April/May utilization. If current trends continue, UnitedHealth ( UNH ) should drive its MCO peers higher given its bellwether status for the earnings season, the analyst added. The Minnesota-based firm, generally the first managed care company to report during the season, is expected to announce its Q2 2026 financials next month. More on UnitedHealth UnitedHealth's Comeback Nobody Expected UnitedHealth Group Incorporated (UNH) Presents at Bank of America Global Healthcare Conference 2026 Transcript UnitedHealth: TrumpRx Is A Nothingburger UnitedHealth sued by Massachusetts over alleged $100M Medicaid overpayments UnitedHealth cuts nearly two-thirds of prior authorizations in pediatrics
LCI Industries ( LCII ) said on Thursday CEO Jason Lippert has retired, stepping down from his roles as president, chief executive officer, and board member after 32 years with the company. The RV and transportation components supplier appointed independent director Johnny Sirpilla as interim CEO, effective immediately, while the board begins a search for a permanent chief executive, considering b...
LCI Industries ( LCII ) said on Thursday CEO Jason Lippert has retired, stepping down from his roles as president, chief executive officer, and board member after 32 years with the company. The RV and transportation components supplier appointed independent director Johnny Sirpilla as interim CEO, effective immediately, while the board begins a search for a permanent chief executive, considering both internal and external candidates. Virginia Henkels was named chair of the board, succeeding Tracy Graham, who stepped down from the board. Jason Lippert will remain in an advisory role for one year to support the transition. Stock down -3% in premarket trading. More on LCI LCI Industries Continues To Prove That It Makes For A Good Ride LCI Industries 2026 Q1 - Results - Earnings Call Presentation LCI Industries (LCII) Q1 2026 Earnings Call Transcript Lci industries forecasts $8.75-$9.25 adjusted EPS as it cuts 2026 RV shipment view to 315,000-330,000 units LCI beats top-line and bottom-line estimates; updates FY26 outlook
Updates from Paris with Shnaider v Chwalinska to follow Mail Katy | Sabalenka ‘wants to quit tennis’ after exit SHE’S BACK! Already today, before tomorrow’s all-Italian men’s semi-final between Flavio Cobolli and Matteo Arnaldi, there’s been victory for their compatriots Sara Errani and Andrea Vavassori, the top seeds, in the mixed doubles final, 4-6, 6-3, 10-4 against the Canadian Gabriela Dabrow...
Updates from Paris with Shnaider v Chwalinska to follow Mail Katy | Sabalenka ‘wants to quit tennis’ after exit SHE’S BACK! Already today, before tomorrow’s all-Italian men’s semi-final between Flavio Cobolli and Matteo Arnaldi, there’s been victory for their compatriots Sara Errani and Andrea Vavassori, the top seeds, in the mixed doubles final, 4-6, 6-3, 10-4 against the Canadian Gabriela Dabrowski and the American Evan King. Continue reading...
(RTTNews) - Pyxus International Inc (PYYX) swings to a profit in its fiscal fourth quarter, helped by higher sales, the agricultural company said on Thursday.
(RTTNews) - Pyxus International Inc (PYYX) swings to a profit in its fiscal fourth quarter, helped by higher sales, the agricultural company said on Thursday.