(RTTNews) - The Australian market is extending its early losses in mid-market moves on Thursday, but reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,700 level, with
(RTTNews) - The Australian market is extending its early losses in mid-market moves on Thursday, but reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,700 level, with
peepo/E+ via Getty Images Rocket Lab ( RKLB ) is set for launch as the space economy picks up momentum across civil, defense, and commercial missions. With an expected increased launch cadence as part of the CLPS and Artemis programs under NASA as well as the development of the Golden Dome program, Rocket Lab should realize multiple growth tailwinds as it gains more exposure to content necessary t...
peepo/E+ via Getty Images Rocket Lab ( RKLB ) is set for launch as the space economy picks up momentum across civil, defense, and commercial missions. With an expected increased launch cadence as part of the CLPS and Artemis programs under NASA as well as the development of the Golden Dome program, Rocket Lab should realize multiple growth tailwinds as it gains more exposure to content necessary to execute these missions as part of its recent acquisitions. In addition to this, Neutron is expected to undergo its first launch in 2027, paving the way for improving launch economics that can deliver profitable growth driven by demand for space technology deployments. Given the strong market tailwinds and potential to improve margins, I am rating RKLB shares with a Strong Buy rating with a price target of $173/share at 60x eFY28 price/sales. Rocket Lab Corporation Operational Update Corporate Filings Rocket Lab’s growth trajectory may be ready for launch as investments in the space economy and defense technology pick up momentum going through 2026 and into 2027. With the defense budget expected to expand to $1.5t in 2027, Rocket Lab may be in an appealing position to participate in such growth. Accordingly, the budget earmarks $70.5b towards munitions procurement, a 188% increase from the 2026 allocation. As part of the budget for munitions, the Navy is set to procure 4,500 air-launched hypersonic missiles over the next 5 years for a value of $10.1b , a major step forward toward bringing the technology to market. As part of the budget for the Golden Dome , $17.9 billion will be allocated to a variety of components, including space-based sensors and interceptors, hypersonic defense, next-gen ICBM defense & radars, and direct energy. Rocket Lab should be able to participate in these programs across multiple verticals, including launch, reconnaissance & surveillance, and hypersonic launch vehicles, amongst others. On the civil side, Rocket Lab could realize a durable growth ...
M. Suhail/iStock Editorial via Getty Images Electronics retailer Best Buy ( BBY ) put out a strong Q1 that included beats on both the top and bottom lines. Forward guidance was also reaffirmed. I believe the positive takes in Q1 were notable ahead of BBY’s leadership transition, which is expected to occur later this calendar year. Ahead of the release, shares in BBY have traded down but have perfo...
M. Suhail/iStock Editorial via Getty Images Electronics retailer Best Buy ( BBY ) put out a strong Q1 that included beats on both the top and bottom lines. Forward guidance was also reaffirmed. I believe the positive takes in Q1 were notable ahead of BBY’s leadership transition, which is expected to occur later this calendar year. Ahead of the release, shares in BBY have traded down but have performed fairly well over the past year. The stock is up about 6.5% over the past year and is up 8.7% YTD. Seeking Alpha - 1-YR Share Price Performance Of BBY Stock While the stock currently trades in the upper half of its 52-week range, shares command a forward earnings multiple of just 11x. That’s discounted to the broader peer set, though right around in line with BBY’s historical averages. Seeking Alpha - Valuation Metrics Of BBY Stock BBY also pays out an attractively yielding dividend , currently 5.2%. This is above the sector and an additional total returns lever for investors seeking diversification away from the more bloated regions of equity markets. Seeking Alpha - Dividend Payout History Of BBY Stock Following Q1 results, I believe BBY is priced just right for the current market environment, and I view shares as a ‘hold.’ BBY Q1 Results Recap The first note is that BBY turned in a stronger-than-expected start to the fiscal year, and this was driven by a return to positive sales growth and continued momentum across several key categories. Revenue increased 1.9% YOY, while comparable sales rose 2%. This was also ahead of expectations for roughly 1% growth. Adjusted EPS, meanwhile, came in at $1.28/share, up 11% from the prior year, while the adjusted operating margin expanded 30 basis points (“bps”) to 4.1%. The strong quarter was driven by broad-based strength across the business. Gaming, however, was a standout, supported by strong demand for the Nintendo Switch 2, PlayStation 5, Xbox consoles, and popular software titles. In addition, computing delivered its ninth ...
US Formally Rejects Somaliland Sovereignty In Blow To Israel Via Middle East Eye The US has reaffirmed “the sovereignty and territorial integrity” of Somalia, in a move seen as a blow to Somaliland, the breakaway region recently recognized by Israel and close to the United Arab Emirates. In a report to Congress on “Potential Areas for Improved United States Engagement with Somaliland”, the US Stat...
US Formally Rejects Somaliland Sovereignty In Blow To Israel Via Middle East Eye The US has reaffirmed “the sovereignty and territorial integrity” of Somalia, in a move seen as a blow to Somaliland, the breakaway region recently recognized by Israel and close to the United Arab Emirates. In a report to Congress on “Potential Areas for Improved United States Engagement with Somaliland”, the US State Department stated that Somaliland was included in the Federal Republic of Somalia . “Within that framework, the United States maintains a positive, constructive relationship with Somaliland and continues to explore additional opportunities for engagement with Somaliland authorities,” the report says. Israel became the first country in the world to formally recognize Somaliland on December 26 last year. Reuters/MEE: Somaliland military armed vehicles take part in a parade during the self-declared Independence Day, with celebrations commemorating their 1991 breakaway from Somalia, on 18 May 2026 The month before, Somaliland President Abdirahman Abdullahi Mohamed secretly visited Israel, meeting with Israeli Prime Minister Benjamin Netanyahu and other “top officials”, according to multiple sources in Somalia and Somaliland. Those other officials included Mossad chief David Barnea and Foreign Minister Gideon Saar, who visited Somaliland immediately after Israel formally recognised the former British colony’s sovereignty. 'Recognition is bigger than anything else. Do you have an alternative for us?' - Rooble Mohamed, Somaliland government adviser Somaliland has since recognized Jerusalem as Israel's capital, establishing an embassy there as meetings between Somaliland and Israeli ministers have continued and pro-Israel figures in the media have taken up the cause of independence for the breakaway Somali region. Jake Wallis Simons, former editor of the Jewish Chronicle, and Andrew Fox, an associate fellow at the right-wing Henry Jackson Society, were flown out to Somaliland for...
The US said the ceasefire was contingent on a complete cessation of fire from the Iran-aligned Hezbollah militia Israel and Lebanon have agreed to implement a ceasefire to end hostilities, the Trump administration has announced, as the US looks to overcome one of the largest barriers to reaching a broader deal to end the war with Iran. The Israel-Lebanon ceasefire is contingent on a complete cessa...
The US said the ceasefire was contingent on a complete cessation of fire from the Iran-aligned Hezbollah militia Israel and Lebanon have agreed to implement a ceasefire to end hostilities, the Trump administration has announced, as the US looks to overcome one of the largest barriers to reaching a broader deal to end the war with Iran. The Israel-Lebanon ceasefire is contingent on a complete cessation of fire from the Iran-aligned Hezbollah militia and the evacuation of all its operatives from the country’s south, a joint statement released by the US state department said after negotiations in Washington. Continue reading...
Earnings Call Insights: Veeva Systems (VEEV) Q1 FY2027 Management View "We had a strong start to the year, delivering results ahead of our guidance," said "Total revenue in the quarter was $883 million with non-GAAP operating income of $395 million" (CEO Peter Gassner). On the AI strategy shift, CEO Peter Gassner said Veeva is moving from "applications, data and consulting" to "software, AI, data ...
Earnings Call Insights: Veeva Systems (VEEV) Q1 FY2027 Management View "We had a strong start to the year, delivering results ahead of our guidance," said "Total revenue in the quarter was $883 million with non-GAAP operating income of $395 million" (CEO Peter Gassner). On the AI strategy shift, CEO Peter Gassner said Veeva is moving from "applications, data and consulting" to "software, AI, data and consulting," and described Falcon as "at the agent layer" providing "agentic labor" that can "fully replac[e] parts -- jobs that people used to do." (CEO Gassner) "We acquired Ostro late in Q1" and "expect it to contribute about $10 million in the remaining 3 quarters of the year"; CFO Brian Van Wagener added it was "about 2/3 of the $15 million increase in commercial subs overall for the year." (CFO Brian Van Wagener) Outlook "We see a strong and healthy end market that we're selling into" and "an environment that is unchanged from when we gave guidance a few months ago," with guidance reflecting that view "for the balance of the year." (CFO Van Wagener) On profitability cadence, CFO Brian Van Wagener attributed the year profile to "services investments" and said Veeva is "continuing to invest across the business" including "our data network," "Ostro," "Falcon" and "Vault AI," while "feeling good about the efficiency of the business and the guide that we're posting for the balance of the year." (CFO Van Wagener) On AI monetization expectations in FY2027, CFO Brian Van Wagener said: "our overall expectation had been for AI to be fairly immaterial outside of Ostro" and "I don't expect there to be a material impact on margins driven by AI this year." (CFO Van Wagener) Financial Results CEO Peter Gassner reported "Total revenue in the quarter was $883 million" and "non-GAAP operating income" was "$395 million." (CEO Gassner) On margin setup, CFO Brian Van Wagener referenced "services gross margins" being affected by "services investments" and described subscription margin ...
Hong Kong’s weather forecaster is monitoring a tropical depression that has formed within 800km (497 miles) of the city, but says it is unlikely to issue a typhoon warning signal. The Hong Kong Observatory said on Thursday that an area of low pressure over the northeastern part of the South China Sea had intensified into a tropical depression, which is centred about 530km south-southwest of Kaohsi...
Hong Kong’s weather forecaster is monitoring a tropical depression that has formed within 800km (497 miles) of the city, but says it is unlikely to issue a typhoon warning signal. The Hong Kong Observatory said on Thursday that an area of low pressure over the northeastern part of the South China Sea had intensified into a tropical depression, which is centred about 530km south-southwest of Kaohsiung and expected to move towards the vicinity of Taiwan. It is forecast to move northeast on...