Broadcom (NasdaqGS:AVGO) reported Q2 results with revenue up 48% year on year, driven by strong AI chip demand and multi year deals with major AI customers. AI semiconductor revenue rose 143% in the quarter, reaching a record level for the company. Despite this acceleration, Broadcom kept its fiscal 2027 AI chip revenue target unchanged, which coincided with a sharp selloff in the stock and a wide...
Broadcom (NasdaqGS:AVGO) reported Q2 results with revenue up 48% year on year, driven by strong AI chip demand and multi year deals with major AI customers. AI semiconductor revenue rose 143% in the quarter, reaching a record level for the company. Despite this acceleration, Broadcom kept its fiscal 2027 AI chip revenue target unchanged, which coincided with a sharp selloff in the stock and a wider reset in AI related sentiment. For investors watching NasdaqGS:AVGO, the tension between the...
(RTTNews) - Caleres Inc. (CAL), a footwear company, on Thursday initiated guidance for the second quarter and has revised up its annual outlook, citing its robust first-quarter earnings performance.
(RTTNews) - Caleres Inc. (CAL), a footwear company, on Thursday initiated guidance for the second quarter and has revised up its annual outlook, citing its robust first-quarter earnings performance.
Warren Buffett is known for his long-term investing strategy, and his method led Berkshire Hathaway to six decades of market-beating performance. One key component is buying shares of quality companies that have the ability and desire to reward their shareholders with passive income. Buffett likes these dividend stocks, particularly those that stick to it over the years and even increase the payme...
Warren Buffett is known for his long-term investing strategy, and his method led Berkshire Hathaway to six decades of market-beating performance. One key component is buying shares of quality companies that have the ability and desire to reward their shareholders with passive income. Buffett likes these dividend stocks, particularly those that stick to it over the years and even increase the payments. The billionaire has held two in particular for many years, and it's proven to be a winning bet for him as well as for Berkshire Hathaway shareholders. Though Buffett retired and handed the investing responsibilities over to Greg Abel at the start of this year, these stocks remain at the heart of the portfolio. And this could continue, as Abel has expressed his interest in following Buffett's investing principles. Let's check out these two Warren Buffett dividend stocks, which remain excellent buys today. Continue reading
mustafaU/iStock via Getty Images A new ceasefire between Israel and Lebanon raises hopes of a breakthrough in US-Iran talks where a low-intensity conflict has been waged under the flag of a ceasefire. The Israel-Lebanon deal reportedly does not include Hezbollah, underscoring the fragility and limits of the ceasefire claims. July WTI is near the middle of the $94-96 range. The market seems cautiou...
mustafaU/iStock via Getty Images A new ceasefire between Israel and Lebanon raises hopes of a breakthrough in US-Iran talks where a low-intensity conflict has been waged under the flag of a ceasefire. The Israel-Lebanon deal reportedly does not include Hezbollah, underscoring the fragility and limits of the ceasefire claims. July WTI is near the middle of the $94-96 range. The market seems cautious. The US dollar is mostly softer, with the Canadian dollar the weakest among the G10 currencies. The swaps market has a BOJ hike nearly fully discounted for later this month, and the greenback continues to hover near but below JPY160. Japan’s finance minister continued to press with recent rhetoric that it stands ready to act. Poor earnings from Broadcom ( AVGO ) late yesterday weighed on the chip sector in Asia and has dragged the Nasdaq futures down over 1%. The market-sensitive US May jobs data are due tomorrow but the bar to a change in Fed policy this month as Warsh chairs his first meeting is very high. Prices G10 • The euro reached a two-week high at the end of May near $1.1685 and eased below $1.1600 yesterday in the North American session. In the last two weeks of May, it traded below $1.16 on an intraday basis several times but did not close below it once, but it did yesterday. Still, there was no follow-through selling, and the euro recovered to almost $1.1635 in European turnover. A close above yesterday’s high, a little below $1.1635, would help lift the tone ahead of tomorrow’s US jobs data. • The dollar trended cautiously but higher against the yen in North America yesterday. After European markets closed, the greenback was pushed to JPY160.10, as if the impish market were daring verbal intervention by the US Treasury like earlier this year or in Tokyo today. The market is nervous, and the dollar spiked down to almost JPY159.60 in the local session and quickly recovered, but has not been above JPY160, where options for $2.7 bln expire today. Finance Minister...
jetcityimage/iStock Editorial via Getty Images Introduction Back when I last covered Mondelez International ( MDLZ ), I highlighted how the company's outlook was hurt by cocoa hedging, rating them a Hold as more clarity was needed going into a pivotal/turnaround year. With the company proving its ability to navigate a tough and uncertain macro environment once again, I believe MDLZ is worth upgrad...
jetcityimage/iStock Editorial via Getty Images Introduction Back when I last covered Mondelez International ( MDLZ ), I highlighted how the company's outlook was hurt by cocoa hedging, rating them a Hold as more clarity was needed going into a pivotal/turnaround year. With the company proving its ability to navigate a tough and uncertain macro environment once again, I believe MDLZ is worth upgrading back to Buy, with the valuation implying a margin of safety given the potential headwinds, paying a decent yield while waiting for the broader industry’s recovery. Solid Returns Despite Macro Pressure Mondelez International IR MDLZ’s Q1 report was solid overall, beating the market’s top- and bottom-line estimates , with a 0.5 p.p. decline in Vol/Mix being offset by a 3.5 p.p. increase in prices, while the Adj. EPS fell by 14.9% and the cash flow reached only $0.2 billion due to a combination of pressure from cocoa prices, a ~$350 million inventory headwind that was already expected, and an increase in other expenses, with double-digit growth in Emerging Markets (11.4%) and 6.1% in developed ones. Still, even during such times, Mondelez still manages to hold their strong market positions across the portfolio and are on track to reach the #1 position in chocolate manufacturing after Mars, high growth in key regions while they also stand to benefit from a recovery in Developed Markets once macro conditions improve, with the CEO mentioning during their Q1 Earnings Call : If I first look at Europe, consumer confidence there is stable, but it's fragile as you would expect from the Middle East conflict. (...) The U.S., the consumer confidence there remains quite low. We expect it to further deteriorate as the Middle East conflict continues. Purchasing power is up, but the consumer remains very concerned about affordability, economic outlook and job security. This is ultimately a trend seen across the broader food industry (and beyond), although the company’s global exposure em...
Jonathan Kitchen/DigitalVision via Getty Images Investment overview I wrote about Endava PLC ( DAVA ) a while back in Sept 2025 with a buy rating, as I was convinced that the solid order book signed in Q4 2025 and the “AI-native” delivery model would drive growth acceleration. After taking some time to look at the Q3 2026 results, I am moving to hold. The AI story is real, but the recovery thesis ...
Jonathan Kitchen/DigitalVision via Getty Images Investment overview I wrote about Endava PLC ( DAVA ) a while back in Sept 2025 with a buy rating, as I was convinced that the solid order book signed in Q4 2025 and the “AI-native” delivery model would drive growth acceleration. After taking some time to look at the Q3 2026 results, I am moving to hold. The AI story is real, but the recovery thesis needs more proof. Revenue conversion is slower than expected, profitability has weakened sharply, and the market is unlikely to reward the stock until execution improves. Q3 2026 earnings recap This is a quick recap for those who missed the results two weeks ago. DAVA reported Q3 2026 revenue of GBP 178.5 million, down 8.4% y/y from GBP 194.8 million. On a constant currency basis, revenue declined 6.4% y/y. Clients with >GBP 1 million of rolling 12-month revenue also declined to 129 from 136. What was worse this quarter was profitability. Declines were seen across the board. Gross profit fell to GBP 33.2 million, and loss before tax exploded to GBP 372 million vs. profit before tax of GBP 13.6 million last year, though this included a GBP 364.6 million goodwill impairment. On an adjusted basis, adjusted profit before tax was GBP 3.2 million, a margin of 1.8%, down from 12.6% last year. Overall, diluted loss per share came in at GBP 7.55 vs. diluted EPS of GBP 0.18 last year. The 2H recovery thesis now needs proof Back in September, I thought the buy thesis was pretty simple. I believed the market was too focused on soft FY2026 guidance and not focused enough on DAVA’s order book, larger client wins, AI-native delivery model, and shift toward higher-value contracts. And that narrative was backed by a strong datapoint: DAVA ended FY2025 with its largest order book, had several large multi-year agreements, and said FY2026 revenue visibility was meaningfully better vs. FY2025. The setup was that 1H could stay soft, but larger deals would ramp later and start showing up in the n...
Phillip Van Zyl/iStock via Getty Images After the April PCE report, I am increasingly concerned that the market may be sleepwalking into a wall. Since the March lows, the S&P 500 has now rallied over 20%, close to 10 percentage points more than the equal-weighted S&P 500 ( RSP ). My concern is that the rally is completely disconnected from the macro reality, as approximately 50% of the S&P 500 is ...
Phillip Van Zyl/iStock via Getty Images After the April PCE report, I am increasingly concerned that the market may be sleepwalking into a wall. Since the March lows, the S&P 500 has now rallied over 20%, close to 10 percentage points more than the equal-weighted S&P 500 ( RSP ). My concern is that the rally is completely disconnected from the macro reality, as approximately 50% of the S&P 500 is tech (if you include tech-like names, like Amazon ( AMZN ), Alphabet ( GOOG ), Meta ( META ), and Tesla (TSLA)). Yes, Q1 corporate earnings were decent, with the current blended EPS growth rate for the S&P 500 (97% of companies have reported) sitting at 28.6%, which would mark the highest earnings since Q4 2021 if the blended 28.6% rate becomes final. However, it's difficult to justify the parabolic move in certain pockets of the market based on corporate earnings alone. An example is the chart of the iShares Semiconductor ETF ( SOXX ) since 2004. Trading View | SOXX The other leg of the rally is (or, more accurately, was) the possibility of rate cuts this year after Kevin Warsh takes over as the new Fed Chair. Previously, I was looking for 2-3 rate cuts in 2026. I now downgrade my expectations to zero cuts this year, after a very disappointing April PCE report. Initially, I thought that the energy inflation might not spill over broadly into core inflation. However, the April core PCE inflation of 3.3% and the trend since the start of the year suggest that I was dead wrong. This re-acceleration in core inflation is unlikely to give Kevin Warsh a compelling reason to build a case for rate cuts this year, even if the job market remains in a low-hire, low-fire state. Add to that the fact that corporate earnings are strong and likely to remain strong in the second half of the year, and I see no compelling case to stimulate the economy via rate cuts this year. On top of that, add in the fact that, at this stage, the U.S. and Iran still have no deal, and the case for lower rates ...
Anna Moneymaker/Getty Images News Federal Reserve Vice Chair for Supervision Michelle Bowman is set to explain on Thursday the progress the Fed has made in reforming banking regulations so that they protect the soundness of the banking system while allowing for freer flow of capital in the economy. She, along with other federal bank regulators, is scheduled to testify to the House Committee on Fin...
Anna Moneymaker/Getty Images News Federal Reserve Vice Chair for Supervision Michelle Bowman is set to explain on Thursday the progress the Fed has made in reforming banking regulations so that they protect the soundness of the banking system while allowing for freer flow of capital in the economy. She, along with other federal bank regulators, is scheduled to testify to the House Committee on Financial Services at 10 AM ET. The regulator has finalized reforms to the community bank leverage ratio, or CBLR, framework, allowing a broader range of qualifying banks to use a simple leverage ratio to measure capital adequacy, replacing a more complex risk-based capital framework. In addition, the Fed has proposed actions to modernize the U.S. regulatory capital framework to clarify requirements, align them with actual risks, reduce overlaps and duplications, and "support the extension of credit to the U.S. economy while preserving strong capital levels and safety and soundness," she said. They modernize the framework for the largest banks as well as for smaller, less complex financial institutions. "These changes, together with earlier updates to the enhanced supplementary leverage ratio and stress testing program, will allow capital to flow more efficiently while maintaining strong prudential standards that protect financial stability," Bowman said. The proposals also encourage mortgage lending in the banking system by reducing disincentives for such activities. Since 2008, the share of bank-originated mortgages has dropped from about 60% to about 35% in 2023, she noted. Banks' share of mortgage servicing fell 50% in that same period, she added. " Because mortgage origination and servicing are a critical part of the customer relationships that underpin the community bank business model, appropriately calibrating risk weighting for these activities will encourage community banks to return to providing these foundational services," Bowman said. She also highlighted the Fed...
jetcityimage Five Below ( FIVE ) traded lower in premarket action on Thursday despite posting a strong FQ1 report, including a 23% jump in comparable sales amid strong demand for Squishy Dumplings products. Investors seem to be concerned that the bar could be too high for Five Below ( FIVE ) to meet in upcoming quarters. Morgan Stanley analyst Simeon Gutman highlighted that Five Below ( FIVE ) is ...
jetcityimage Five Below ( FIVE ) traded lower in premarket action on Thursday despite posting a strong FQ1 report, including a 23% jump in comparable sales amid strong demand for Squishy Dumplings products. Investors seem to be concerned that the bar could be too high for Five Below ( FIVE ) to meet in upcoming quarters. Morgan Stanley analyst Simeon Gutman highlighted that Five Below ( FIVE ) is firing on all cylinders off strong retail strategy and execution. "Nevertheless, we think the stock's next move higher requires greater conviction in whether and to what degree FIVE can lap its exceptional growth," he warned. Jefferies analyst Randal Konik noted that Five Below ( FIVE ) delivered a standout Q1 with exceptional execution from the management team, but he noted the growth rate is peaking as comparisons toughen and the pricing tailwind is now behind it. "We continue to see earnings upside and are raising estimates, but as 2nd derivative growth wanes, we expect the multiple to compress," advised Konik. The firm maintained a Hold rating on FIVE. Evercore ISI thinks Five Below ( FIVE ) is likely to grow into its multiple rather than re-rate further. Analyst Michael Montani reasoned, what's not to like about 23% comps and 600 basis points of EBIT margin expansion? However, the firm sees sustainability as the main risk, with comparable sales growth likely to decelerate in Q2 off a fad-aided peak. With the trading multiple at 23.5X, the firm sees the risk-reward profile as more balanced from here and kept an In-Line rating. UBS analyst Michael Lasser and his team are more positive, taking the view that the retailer has set itself up to continue to outperform and drive further upward estimate revisions. "The key point is that the FIVE investment case is broader than solely lapping a tough comp created by demand from products like Squishy Dumplings or Pokémon cards," wrote Lasser. Shares of Five Below ( FIVE ) were down 11.2% in the early session to drop below the $200...
Mozart’s Marriage of Figaro is in the soprano’s DNA, but she’s never thought about directing it. Creating her own production has been daunting and fascinating – and her son’s building blocks even helped I am not one of those performers who has spent their life on a theatre stage or film set thinking, “I wish I could direct this”. However, earlier this year, I found myself with an unexpected six-we...
Mozart’s Marriage of Figaro is in the soprano’s DNA, but she’s never thought about directing it. Creating her own production has been daunting and fascinating – and her son’s building blocks even helped I am not one of those performers who has spent their life on a theatre stage or film set thinking, “I wish I could direct this”. However, earlier this year, I found myself with an unexpected six-week gap. A scheduled project had been delayed for technical reasons, and it was at this time that Wild Arts’ producer Max Parfitt asked how well I knew The Marriage of Figaro. I have lived with Mozart’s opera for as long as I can remember. Susanna’s “ Deh, Vieni Non Tardar ” was one of the first major arias I sang, aged 12 or 13, while studying in Los Angeles. Later, I wrote my final high school paper on Figaro, the adaptation from Beaumarchais’s play to Da Ponte’s libretto. I even translated the entire score word for word, which is probably why I still know it so deeply. My Metropolitan Opera debut at 19 was in Figaro, singing Barbarina. I performed my first Susanna on the same New York stage a few years later, and I’ve since sung the role many times all over the world. Continue reading...
TKO Group Holdings ( TKO ) declares $0.79/share quarterly dividend , 1.3% increase from prior dividend of $0.78. Forward yield 1.59% Payable June 30; for shareholders of record June 15; ex-div June 15. The company raised its quarterly dividend by 1.3% after paying a quarterly dividend of $0.78 in each of the previous 2 quarters. See TKO Dividend Scorecard, Yield Chart, & Dividend Growth. More on T...
TKO Group Holdings ( TKO ) declares $0.79/share quarterly dividend , 1.3% increase from prior dividend of $0.78. Forward yield 1.59% Payable June 30; for shareholders of record June 15; ex-div June 15. The company raised its quarterly dividend by 1.3% after paying a quarterly dividend of $0.78 in each of the previous 2 quarters. See TKO Dividend Scorecard, Yield Chart, & Dividend Growth. More on TKO Group Holdings TKO Group Holdings, Inc. (TKO) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript TKO Group Holdings, Inc. (TKO) Q1 2026 Earnings Call Transcript TKO Group Grappling With Direction Ahead Of Flagship 'WrestleMania' Tko targets $5.675B-$5.775B 2026 revenue while adding $1B to share repurchase authorization TKO Group announces $1B in share repurchases
Sky_Blue/iStock via Getty Images Energy Concentration Leads To Outperformance PIMCO Dynamic Income Strategy Fund ( PDX ) had an excellent six months since I last covered it in December 2025 . While the market price is little changed, total return since then has been over 19%, driven mostly by a $2.97 special dividend announced shortly after my article was published and paid in January. The fund al...
Sky_Blue/iStock via Getty Images Energy Concentration Leads To Outperformance PIMCO Dynamic Income Strategy Fund ( PDX ) had an excellent six months since I last covered it in December 2025 . While the market price is little changed, total return since then has been over 19%, driven mostly by a $2.97 special dividend announced shortly after my article was published and paid in January. The fund also continued to pay a $0.1334 monthly dividend, and the discount to NAV has narrowed to -8% from -10.3%. Seeking Alpha That special dividend was the result of realized gains as PDX trimmed some energy sector holdings, a policy shift first announced in 2023. While the new policy specifies the fund will continue to hold "at least" 25% in energy, holdings as of the end of calendar 2025 still included 31.3% in energy stocks and MLPs, as well as additional fixed income investments in the sector. Among the equity investments was Venture Global ( VG ), the US LNG producer PIMCO had a stake in when the company was still private. VG was by far the fund's largest holding at 11.4% of NAV on 12/31/2025. In the first quarter of 2026, PDX got a boost from the Iran war's impact on its energy investments. For example, Venture Global stock, which ended 2025 at $6.82, closed as high as $17.53 on March 27 and ended the quarter at $15.76. With the market already pricing in an eventual end to the hostilities and lower future LNG prices, VG has since retreated from those highs. With the big gains in Venture Global, PIMCO made what so far looks like a great trade, trimming about 40% of the VG shares in PDX. As of 3/31/2026, PDX held 9.31 million shares of VG, down from 15.7 million shares, the stake it held since before the VG IPO. Despite the trim, VG's weighting in PDX actually grew to 13.7% at the end of March due to the price increase in the stock. Overall energy weighting is still high at 35.3% in stocks and MLPs, before accounting for fixed income in the sector. PIMCO made some other energy...
Brown-Forman press release ( BF.B ): FY GAAP EPS of $1.53 misses by $0.20 . Revenue of $3.92B (-1.3% Y/Y) beats by $30M . Fiscal 2027 Outlook Organic net sales to be approximately flat. Organic operating income decline in the 3% to 5% range. Our effective tax rate to be in the range of approximately 20% to 22%. Capital expenditures planned to be in the range of $60 to $70 million. More on Brown-Fo...
Brown-Forman press release ( BF.B ): FY GAAP EPS of $1.53 misses by $0.20 . Revenue of $3.92B (-1.3% Y/Y) beats by $30M . Fiscal 2027 Outlook Organic net sales to be approximately flat. Organic operating income decline in the 3% to 5% range. Our effective tax rate to be in the range of approximately 20% to 22%. Capital expenditures planned to be in the range of $60 to $70 million. More on Brown-Forman Brown-Forman: A Failed Deal With Pernod Ricard Is Just The Beginning Brown-Forman: Stuck In The Middle Of A Potential Buyout And Rising Macro Pressure Brown-Forman: A Deal With Pernod Ricard Could Be A Game Changer Brown-Forman Q4 2026 Earnings Preview Brown-Forman declares $0.231 dividend