Microsoft (NASDAQ: MSFT) stock is seeing significant bullish momentum in Thursday's trading. The tech giant's share price was up 3.4% as of 3:05 p.m. ET. The S&P 500 and the Nasdaq Composite were up 0.5% and 0.6%, respectively, at the same point in the day's trading. The stock has been up as much as 4.1% earlier in the daily session. Microsoft is gaining ground today in response to positive analys...
Microsoft (NASDAQ: MSFT) stock is seeing significant bullish momentum in Thursday's trading. The tech giant's share price was up 3.4% as of 3:05 p.m. ET. The S&P 500 and the Nasdaq Composite were up 0.5% and 0.6%, respectively, at the same point in the day's trading. The stock has been up as much as 4.1% earlier in the daily session. Microsoft is gaining ground today in response to positive analyst coverage of the company's cloud infrastructure opportunities, potential opportunities in the defense services space, and reports that the company is poised to unveil a new coding model in the near future. Despite the gains for the stock, its share price is still down roughly 12% year to date as of this writing. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Image source: Getty Images. Morgan Stanley sees strong growth tailwinds for Microsoft's cloud unit In a note published yesterday, Morgan Stanley analysts laid out a bullish growth trajectory for Microsoft's cloud infrastructure business. The investment firm's team sees Microsoft rapidly expanding its data center capacity and expects that monetization will scale rapidly as the new systems come online. With the tech giant expanding its artificial intelligence (AI) and cloud infrastructure data center footprint and the demand for compute surging, Morgan Stanley's analysts think Microsoft could see much stronger monetization in the near future. Defense-related news and new coding software are also lifting the stock News hit today that Dell had been awarded a contract through the Department of Defense that's expected to be worth roughly $9.69 billion. Through the deal, department customers and related parties will be able to secure access to Microsoft software licenses, cloud services, and other offerings. In addition to that bullish catalyst, The Inform...
Leading hedge funds have filed their 13Fs for the first quarter of 2026, and we see some interesting changes at a few, particularly Berkshire Hathaway (BRK.B) (BRK.A) and Pershing Square Holdings. Berkshire sold several smaller holdings in the quarter and was a net seller of stocks for the 14th consecutive quarter. Importantly, it was the first filing under the leadership of Greg Abel, who took ov...
Leading hedge funds have filed their 13Fs for the first quarter of 2026, and we see some interesting changes at a few, particularly Berkshire Hathaway (BRK.B) (BRK.A) and Pershing Square Holdings. Berkshire sold several smaller holdings in the quarter and was a net seller of stocks for the 14th consecutive quarter. Importantly, it was the first filing under the leadership of Greg Abel, who took over from the legendary Warren Buffett earlier this year. Meanwhile, what caught the eye was Berkshire doubling down on Alphabet (GOOG) (GOOGL) while adding new positions in Delta Air Lines (DAL) and Macy’s (M). Moreover, the conglomerate exited Amazon (AMZN), a position it had initiated seven years ago. The decision was likely taken by Abel, even though the company usually does not explicitly tell who bought or sold a stock. However, Bill Ackman of Pershing Square – a self-described “Warren Buffett devotee” –doubled down on Amazon, making it the fund’s second biggest holding. He also added Microsoft (MSFT) shares while trimming the stake in Alphabet. In a social media post, Ackman suggested that he finds Alphabet stock overvalued and Microsoft undervalued, even though he remains bullish on the former in the long term. Both Ackman and Abel are inspired by Buffett and have a value tilt in their investing philosophy. While only time will tell which of them got it right on Amazon, let’s explore whether investors should buy or sell Amazon stock. Amazon Stock Forecast Of the 57 analysts polled, 49 rate Amazon as a “Strong Buy” while five rate it as a “Moderate Buy.” Three analysts rate AMZN as a “Hold,” or some equivalent, and its mean target price of $315.67 is 15.3% higher than current levels. While AMZN stock closed flat after its Q1 2026 earnings last month, several brokerages hiked the stock’s target price. Looking at some of the notable changes, Wolfe raised Amazon’s target price from $245 to $320 while Piper Sandler raised its from $260 to $315. Cantor Fitzgerald raised Ama...
Gargolas/iStock via Getty Images Quanta Services ( PWR ) is little changed in Thursday's trading as Oppenheimer upgrades the infrastructure services provider to Outperform from Perform with an $800 price target, saying the company is "undeniably positioned in markets with superior growth prospects" in critical areas necessary to support electrification demands and AI development. Oppenheimer's Bre...
Gargolas/iStock via Getty Images Quanta Services ( PWR ) is little changed in Thursday's trading as Oppenheimer upgrades the infrastructure services provider to Outperform from Perform with an $800 price target, saying the company is "undeniably positioned in markets with superior growth prospects" in critical areas necessary to support electrification demands and AI development. Oppenheimer's Brent Thielman points to Quanta's ( PWR ) high exposure to markets experiencing increased growth prospects supported by customers' expanding plans for spending includes electrical transmission and distribution, power generation, complex facilities development, underground delivery network modernization, pipeline development, and fiber communications. Quanta's ( PWR ) unique large infrastructure project capabilities and weighting to secular-driven markets are expected to sustain absolute and relative valuation premiums while potential margin expansion accelerants also offer upside catalysts, Thielman says. The company derives 70% of revenue through utility and power-related customers, and its massive workforce of ~70K provides opportunities to participate in among the largest U.S. infrastructure endeavors to come, the analyst says.
Elon Musk’s X lets you write long-form content on the platform through its Articles feature, but only if you’re a paid subscriber or business. The decentralized social networking startup Bluesky has a different idea. On Thursday, Bluesky rolled out a new version of its app that integrates with Standard.site, a community project for building long-form content on the same underlying protocol that po...
Elon Musk’s X lets you write long-form content on the platform through its Articles feature, but only if you’re a paid subscriber or business. The decentralized social networking startup Bluesky has a different idea. On Thursday, Bluesky rolled out a new version of its app that integrates with Standard.site, a community project for building long-form content on the same underlying protocol that powers Bluesky. This means Bluesky users can now explore content beyond microblogs, or the short posts that Bluesky is known for. Instead, they can read articles, blog posts, and newsletters published across the wider network of AT Protocol-powered apps, known as the “Atmosphere.” That includes sites like Leaflet, pckt, and Offprint, which cater to independent writers and publishers who want to own their content and expand their distribution across the open web. These articles will initially appear as dynamic link cards — essentially, an enhanced preview. Bluesky says this is just a first step, and the functionality will be improved over time. Image Credits:Bluesky This marks the second expansion of Bluesky’s capabilities based on other projects built by community members. In February, a startup called Germ became the first private messaging service that could launch directly from Bluesky’s app, thanks to a similar integration. By building the technology infrastructure alongside its social networking client application, Bluesky is able to leverage the other apps and services also running on the AT Protocol. That’s not a bad deal for the third parties, either, as they can tap into the distribution provided by Bluesky’s network of some 44.5 million registered users. The expansion to long-form content follows shortly after WordPress’s announcement earlier this month of its own plugin that allows any WordPress site to publish to the Atmosphere. (The plugin joins another WordPress already offered for publishing to the open social services that are powered by a different protocol, ...
Scott Olson/Getty Images News Cboe Global Markets ( CBOE ) has secured the approval of the Securities and Exchange Commission to begin offering extended trading hours for select multi-listed equity options. The company's options exchange plans to begin offering the extended trading hours on July 13. The new trading hours will include a pre-market session from 7:30 AM ET to 9:25 AM ET and a post-ma...
Scott Olson/Getty Images News Cboe Global Markets ( CBOE ) has secured the approval of the Securities and Exchange Commission to begin offering extended trading hours for select multi-listed equity options. The company's options exchange plans to begin offering the extended trading hours on July 13. The new trading hours will include a pre-market session from 7:30 AM ET to 9:25 AM ET and a post-market session from 4:00 PM ET to 4:15 PM ET, Monday to Friday. The financial exchange expects ~20 names—including all the Magnificent 7 stocks such as Nvidia ( NVDA ), Tesla ( TSLA ), and Apple ( AAPL ), as well as other popular single-stock names like Palantir ( PLTR ), Broadcom ( AVGO ), and AMD ( AMD )—to be available for trading at launch. "By launching first with a select group of single-name options, we are deliberately taking a measured approach to help ensure market safeguards and investor protections remain in place," said Head of U.S. Derivatives Meaghan Dugan. "As the industry moves toward near-24x5 trading in equities, this development will also help better align options trading—especially in the most high-demand names—with their underlying securities," said Dugan. Cboe currently offers near 24x5 trading in its Global Trading Hours (8:15 PM ET to 9:25 AM ET) and Curb Trading Hours (4:15 PM ET to 5:00 PM ET) for several of its proprietary index options. In U.S. equities business, CBOE currently offers trading from 4 AM ET to 8 PM ET on two of its four exchanges. The exchange plans to launch 23x5 equities trading on its Cboe EDGX Equities Exchange in December. More on Cboe Global Markets Cboe Global Markets, Inc. (CBOE) Q1 2026 Earnings Call Transcript Cboe Global Markets, Inc. 2026 Q1 - Results - Earnings Call Presentation Cboe Global Markets: Good Hedge For High Volatility Cboe names Boudewijn Duinstra its new chief risk officer Cboe expects $100M-$120M annualized expense savings as it lowers 2026 adjusted operating expense guide to $838M-$853M
就在Figma上市首日暴涨、风光无限过去仅十个月后，这家设计软件新贵再次成为市场焦点——这一次，是因为激进投资者的强势介入。Findell Capital Management本周公开致函Figma董事会，要求公司大幅削减成本、精简产品线并审查与AI公司Anthropic的关联治理问题。这一事件被市场视为科技公司“不愿上市”的又一典型案例：一旦暴露在公众视野中，此前在私募市场被掩盖的治理瑕疵与成本...
Key Points A $1,000 investment in Micron a year ago would now be worth approximately $9,500. The memory specialist's fiscal second-quarter revenue jumped 196% year over year. Management's third-quarter revenue guidance alone exceeds the company's full-year sales for any year through fiscal 2024. 10 stocks we like better than Micron Technology › Few investors a year ago would have predicted that Mi...
Key Points A $1,000 investment in Micron a year ago would now be worth approximately $9,500. The memory specialist's fiscal second-quarter revenue jumped 196% year over year. Management's third-quarter revenue guidance alone exceeds the company's full-year sales for any year through fiscal 2024. 10 stocks we like better than Micron Technology › Few investors a year ago would have predicted that Micron Technology (NASDAQ: MU) would deliver one of the U.S. stock market's most extraordinary 12-month runs. The shares traded in the mid-$90s as recently as late May 2025, and memory chips still carried the reputation of being one of the most cyclical corners of the semiconductor industry. A boom-and-bust pattern had defined the business for decades. But the 12 months that followed have rewritten that story -- and rewarded shareholders accordingly. A $1,000 investment in Micron in late May, when shares were trading around $95, would have purchased about 10.5 shares. With Micron trading near $910 as of this writing, that position would now be worth approximately $9,500 -- a gain of about 850%. For comparison, the same $1,000 in an S&P 500 index fund over that span would be worth closer to $1,280. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » So how did the math get this far? And can Micron stock's run keep going from here? What's behind the surge The short answer to why the stock has been going parabolic is that the artificial intelligence (AI) boom has led to an unprecedented surge in demand for Micron's high-bandwidth memory (HBM). But let's dig in. When Micron reported its fiscal second quarter of 2026 (the period ended Feb. 26, 2026) in March, the figures looked unlike anything in the company's history. Revenue came in at $23.86 billion, nearly tripling from $8.05 billion in the year-ago period and r...
What happened According to an SEC filing dated May 11, 2026, Arnhold LLC added 724,436 shares of Kyndryl Holdings during the first quarter. The estimated transaction value is $12.75 million, calculated using the mean unadjusted closing price for the quarter. As a result, the fund’s total position reached 1,922,860 shares, with a quarter-end value of $25.23 million. The net position change, includi...
What happened According to an SEC filing dated May 11, 2026, Arnhold LLC added 724,436 shares of Kyndryl Holdings during the first quarter. The estimated transaction value is $12.75 million, calculated using the mean unadjusted closing price for the quarter. As a result, the fund’s total position reached 1,922,860 shares, with a quarter-end value of $25.23 million. The net position change, including price movement, was -$6.60 million. What else to know This buy brings the stake to 1.85% of Arnhold LLC’s $1.36 billion 13F AUM after the filing Top holdings after the quarter: NYSEMKT:GLD: $169.06 million (12.4% of AUM) NYSEMKT:IAU: $154.92 million (11.4% of AUM) NASDAQ:LITE: $58.33 million (4.3% of AUM) NYSE:COHR: $56.46 million (4.1% of AUM) NASDAQ:GOOGL: $55.85 million (4.1% of AUM) As of May 8, 2026, shares were priced at $12.26, down 66.5% over one year Company Overview Metric Value Revenue (TTM) $15.09 billion Net Income (TTM) $198.00 million Price (as of market close 5/12/26) $11.48 One-Year Price Change -69.08% Company Snapshot Provides IT infrastructure services, including cloud, application, data and AI, digital workplace, security, and network solutions. Generates revenue through technology and IT infrastructure solutions for enterprise clients across multiple sectors. Serves large organizations in the financial, telecommunications, retail, automotive, and transportation industries worldwide. Kyndryl Holdings, Inc. operates as an IT infrastructure services provider worldwide, supporting enterprise clients with a comprehensive portfolio of technology solutions. What this transaction means for investors After a 69% drop over the past year, it looks like Arnhold thinks Kyndryl Holdings stock is a bargain at its beaten-down price. This is a little surprising because stagnant and a contracting bottom line aren’t the sort of things that encourage investors to raise their bets. Arnhold’s confidence appears misplaced. Despite raising the number of shares it’s holding...
Available for over a year Today, in his long awaited report, former minister Alan Milburn has said job and career opportunities for young people are ‘not growing, they’re shrinking’, with one in six set to be out of work, education or training in five years unless action is taken. He concluded that the education, health and welfare systems are no longer fit for purpose in preparing young people fo...
Available for over a year Today, in his long awaited report, former minister Alan Milburn has said job and career opportunities for young people are ‘not growing, they’re shrinking’, with one in six set to be out of work, education or training in five years unless action is taken. He concluded that the education, health and welfare systems are no longer fit for purpose in preparing young people for adult life - with the risk of a ‘lost generation’ and young adults facing a ‘perfect storm’ of challenges. Adam is joined by Alex, Simon Jack and Sarah Montague to discuss. You can now listen to Newscast on a smart speaker. If you want to listen, just say "Ask BBC Sounds to play Newscast”. It works on most smart speakers. You can join our Newscast online community here: https://bbc.in/newscastdiscord Get in touch with Newscast by emailing newscast@bbc.co.uk or send us a WhatsApp on +44 0330 123 9480. New episodes released every day. If you're in the UK, for more News and Current Affairs podcasts from the BBC, listen on BBC Sounds: https://bbc.in/4guXgXd Newscast brings you daily analysis of the latest political news stories from the BBC. The presenter was Adam Fleming. It was made by Jack MacLaren with Shiler Mahmoudhi . The social producer was Jem Westgate . The technical producer was Philip Bull. The assistant editor is Chris Gray. The senior news editor is Sam Bonham. Programme Website
Key Points SoFi's platform is attracting millions of new customers in increasing numbers. The low-cost, high-growth model is generating higher profits. SoFi stock has become a lot cheaper. 10 stocks we like better than SoFi Technologies › SoFi Technologies (NASDAQ: SOFI) reported mostly outstanding results for the 2026 first quarter, and its stock continues to get crushed. It's down 38% this year ...
Key Points SoFi's platform is attracting millions of new customers in increasing numbers. The low-cost, high-growth model is generating higher profits. SoFi stock has become a lot cheaper. 10 stocks we like better than SoFi Technologies › SoFi Technologies (NASDAQ: SOFI) reported mostly outstanding results for the 2026 first quarter, and its stock continues to get crushed. It's down 38% this year alone. Investors might be fleeing, but is it justified? Let's see where SoFi might be in 2030 and whether it makes sense to wait it out. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » High-growth fintech Let's take a step back and see why SoFi has an exciting investment thesis in the first place, and why its stock has tripled over the past three years, including the current drop. SoFi is an all-digital bank that offers a large assortment of financial services, all in one app. That might not sound so different than other banks today, but it stands out in a number of ways. Firstly, it's all digital, so there are no high real estate costs. It puts all of its resources into creating an easy-to-use platform and highlighting innovation. This simple approach to finance targets a young professional consumer base that's digitally savvy and upwardly mobile. The company sees its distinctive edge in providing a "one-stop shop" approach to this clientele, and its strategy is to grow with them. The model is catching on, and the proof is in the numbers. SoFi has set a new record for customer add-ons for the past six quarters, in absolute terms, and percentage growth is still high. Product growth has accelerated further, indicating that the cross-sell strategy is working. Metric Q1 26 Q425 Q3 25 Q2 25 Q1 25 Q4 24 Customer add-ons 1.1 million 1 million 905,000 850,000 800,000 785,000 Customer growth 35% 35% 35% 34% 34% 3...
primeimages S&P 500 ( SP500 ) ( SPY ) options skew is sliding toward a two-year low, an indication that investors are demanding less downside protection even as the market’s recent support from systematic buying may be losing force, according to data from Tier1 Alpha as of Thursday. The drop in skew is leaving positioning more exposed to a negative catalyst, Tier1 Alpha said in a social media post...
primeimages S&P 500 ( SP500 ) ( SPY ) options skew is sliding toward a two-year low, an indication that investors are demanding less downside protection even as the market’s recent support from systematic buying may be losing force, according to data from Tier1 Alpha as of Thursday. The drop in skew is leaving positioning more exposed to a negative catalyst, Tier1 Alpha said in a social media post. In options terms, lower skew usually means put protection is getting cheaper relative to calls, often reflecting a market that feels comfortable with the outlook and sees less need to hedge broad equity downside. That is the part the firm is flagging as dangerous. " We've been riding the beta wave with everyone else, but at this point, the tailwind of systematic flows has largely run its course," it wrote, as stock indices keep hitting records. "Just remember, complacency kills." Tier1 Alpha More on the Markets The Higher They Climb: 3 Non-Chip ETFs Exposed To An AI Stock Meltdown Building A $100,000 All-Weather Dividend Portfolio For May 2026 Worse Than 1999 Retail traders beat Wall Street benchmarks with AI stock picks, JPMorgan says Midday Need to Know: PCE inflation rises, drone stocks surge & more
XRP (CRYPTO: XRP) has fallen roughly 3% over the last 24 hours to trade below the $1.30 key support level after news of fresh attacks between the U.S. and Iran. The coin remains 66.6% below its all-time high of $3.84, leaving many holders wondering whether this is the right time to accumulate or if it ... Should You Buy XRP Now or Wait for the Senate CLARITY Act Vote?
XRP (CRYPTO: XRP) has fallen roughly 3% over the last 24 hours to trade below the $1.30 key support level after news of fresh attacks between the U.S. and Iran. The coin remains 66.6% below its all-time high of $3.84, leaving many holders wondering whether this is the right time to accumulate or if it ... Should You Buy XRP Now or Wait for the Senate CLARITY Act Vote?
Key Points Hormel Foods grew organic sales and adjusted net income by 3% and 14% in the second quarter. Management also reaffirmed full-year sales and adjusted earnings per share guidance. Hormel remains reasonably valued, but interested investors need to monitor its dividend's health. 10 stocks we like better than Hormel Foods › Shares of Hormel Foods (NYSE: HRL) -- home to the Planters, Skippy, ...
Key Points Hormel Foods grew organic sales and adjusted net income by 3% and 14% in the second quarter. Management also reaffirmed full-year sales and adjusted earnings per share guidance. Hormel remains reasonably valued, but interested investors need to monitor its dividend's health. 10 stocks we like better than Hormel Foods › Shares of Hormel Foods (NYSE: HRL) -- home to the Planters, Skippy, Jennie-O, and Spam brands -- are up 14% as of 2 p.m. ET on Thursday after the company reported excellent second-quarter earnings. The food behemoth beat analysts' expectations and reaffirmed its full-year sales and adjusted net income guidance, prompting the stock to rise. While 3% organic sales growth and a 14% rise in adjusted earnings per share (EPS) in Q2 may not be a big enough catalyst to move Hormel's share price much today, it is worth remembering the stock has been halved over the last five years. Following this steady march lower, Hormel may be showing some promising signs of life with today's results. This was the sixth consecutive quarter of organic sales growth for the company. It was also the 11th straight quarter of organic sales growth for its foodservice unit. Furthermore, despite soaring fuel and logistics expenses and an uncertain consumer environment, Hormel's margins expanded nonetheless in Q2, as evidenced by its soaring adjusted EPS. Considering that management touts Hormel's long-term growth algorithm as 2% to 3% orgain sales growth and 5% to 7% operating income growth, Q2's results were excellent. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Despite today's rise, Hormel still trades at 11 times earnings before interest, depreciation, taxes, and amortization (EBITDA) and 16 times forward earnings, so it doesn't need outrageous growth to justify its valuation. That said, interest...
Treasury Secretary Scott Bessent said that President Trump will not make a bad deal with Iran amid reports of a 60-day truce extension waiting the president's approval. Bessent, speaking at the White House press briefing, outlined President Trump's conditions for a deal with Iran, saying that for a deal to happen the country must agree to open the Strait of Hormuz, turn over its enriched uranium a...
Treasury Secretary Scott Bessent said that President Trump will not make a bad deal with Iran amid reports of a 60-day truce extension waiting the president's approval. Bessent, speaking at the White House press briefing, outlined President Trump's conditions for a deal with Iran, saying that for a deal to happen the country must agree to open the Strait of Hormuz, turn over its enriched uranium and not to pursue a nuclear weapon. (Source: Bloomberg)
The Guardian's Oliver Holmes looks at how Donald Trump's book The Art of the Deal could shed light on the president's negotiation tactics in the war with Iran Continue reading...
The Guardian's Oliver Holmes looks at how Donald Trump's book The Art of the Deal could shed light on the president's negotiation tactics in the war with Iran Continue reading...
Vertigo3d/E+ via Getty Images Key Takeaways Markets: International equities declined in March as the U.S.-Israel conflict with Iran escalated, resulting in mixed quarterly performance. The MSCI EAFE Index fell 1.2% but still outperformed the S&P 500 Index (4.3%). Value stocks continued to lead amid rising energy prices and higher interest rates. Contributors: Agnico Eagle Mines ( AEM ), Siemens En...
Vertigo3d/E+ via Getty Images Key Takeaways Markets: International equities declined in March as the U.S.-Israel conflict with Iran escalated, resulting in mixed quarterly performance. The MSCI EAFE Index fell 1.2% but still outperformed the S&P 500 Index (4.3%). Value stocks continued to lead amid rising energy prices and higher interest rates. Contributors: Agnico Eagle Mines ( AEM ), Siemens Energy ( SMEGF ), ASML ( ASML ). Exposure to materials, utilities and select industrials. Detractors: Sea Limited ( SE ), Tencent ( TCEHY ), SAP ( SAP ). Underweight to energy; holdings in financials and software. Outlook: After an extended period of value leadership, we believe growth stocks have materially compressed their valuation premium. We see improving opportunities, particularly in markets with rising earnings, supportive fiscal policy and attractive valuations. Performance Review Relative performance was most impacted by the Portfolio's limited exposure to traditional energy during a quarter in which the energy sector surged roughly 40% (net of fees). The closure of the Strait of Hormuz heightened inflation concerns through commodity price spikes and drove a reassessment of European Central Bank policy expectations. These forces, coupled with profit taking after strong 2025 performance, pressured financials, which declined 3.7% for the quarter. Holdings including Adyen ( ADYEY ), Intesa Sanpaolo ( ISNPY ) and NatWest Group ( NWG ) detracted as a result. Technology also weighed on results, particularly software. The launch of advanced generative AI tools intensified concerns that AI native solutions could weaken pricing power, extend sales cycles and compress long term growth. This resulted in broad based multiple contraction across the software sector, including companies with strong fundamentals. We reduced overall software exposure, including cutting Germany's SAP by roughly two thirds. Among individual detractors, Sea Limited was hurt by rising competition in its...
Supatman/iStock via Getty Images The following segment was excerpted from the Baron Real Estate Income Fund Q1 2026 Shareholder Letter . During the quarter, we initiated a position in Essential Properties Realty Trust, Inc. ( EPRT ), a triple net lease REIT that owns a portfolio of approximately 2,300 properties across the U.S. The company leases properties primarily to middle-market businesses op...
Supatman/iStock via Getty Images The following segment was excerpted from the Baron Real Estate Income Fund Q1 2026 Shareholder Letter . During the quarter, we initiated a position in Essential Properties Realty Trust, Inc. ( EPRT ), a triple net lease REIT that owns a portfolio of approximately 2,300 properties across the U.S. The company leases properties primarily to middle-market businesses operating in service-oriented or experienced-based industries, including car washes, auto services, medical and dental offices, education, restaurants, entertainment and more. Approximately 90% of its business is comprised of sale-leaseback transactions. We are excited about our investment in Essential Properties for several reasons: Well-diversified, high-quality portfolio : Essential Properties maintains a well-diversified property portfolio with only one tenant representing more than 2% of annualized rent. This has produced credit metrics on par with industry leaders, despite Essential Properties’ portfolio consisting predominantly of non-investment grade rated tenants. We believe the quality of Essential Properties’ portfolio is often overlooked by investors who favor competitors with more investment grade tenant exposure, despite portfolio-level metrics that indicate the company’s underlying credit quality is comparable to peers. Differentiated strategy targeting an underserved segment of the market : Essential Properties focuses on small transactions ($3 million average per property) with middle-market, service-oriented and experienced-based businesses, a segment that is largely ignored by peers who compete for larger, investment grade corporate sale leasebacks. This creates a meaningful competitive moat, while also enabling the company to potentially achieve higher yields without sacrificing portfolio quality. Best-in-class earnings growth : We believe the company is well-positioned to sustain high-single-digit earnings growth, which is best-in-class among triple net l...
(RTTNews) - After coming under pressure early in the session, treasuries showed a significant turnaround over the course of the trading day on Thursday. Bond prices climbed well off their early lows and into positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.6 basis points to 4.455 percent after reaching a high of 4.510 percent. Tr...
(RTTNews) - After coming under pressure early in the session, treasuries showed a significant turnaround over the course of the trading day on Thursday. Bond prices climbed well off their early lows and into positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.6 basis points to 4.455 percent after reaching a high of 4.510 percent. Treasuries initially moved to the downside amid a spike by the price of crude oil, with U.S. crude oil futures surging as much as 4.3 percent. The price of crude oil jumped after reports the U.S. launched another round of "self-defense strikes" in southern Iran, leading Tehran to retaliate by purportedly targeting a U.S. air base. However, bond prices rebounded after a report from Axios said U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding. Citing two U.S. officials and a regional source involved in the mediation efforts, Axios indicated the MOU would extend the ceasefire and launch negotiations on Iran's nuclear program. Axios noted President Donald Trump has not yet given final approval, with a U.S. official saying he wants a couple of days to think about the deal. In U.S. economic news, the Commerce Department released a report showing consumer prices in the U.S. increased by slightly less than expected in the month of April. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.4 percent in April after climbing by 0.7 percent in March. Economists had expected prices to increase by 0.5 percent. The report also said the annual rate of growth by the PCE price index accelerated to 3.8 percent in April from 3.5 percent in March, in line with estimates. Excluding food and energy prices, the core PCE price index crept up by 0.2 percent in April after rising by 0.3 percent in March. Core prices were expected to rise by another 0.3 percent. The annual rate of growth by the core PCE price index t...
David Forgash, managing director and head of leveraged finance at Pimco, joins Dani Burger on "Bloomberg ETF IQ." They speak at the Goldman Sachs Annual Leveraged Finance Conference in Dana Point, California. (Source: Bloomberg)
David Forgash, managing director and head of leveraged finance at Pimco, joins Dani Burger on "Bloomberg ETF IQ." They speak at the Goldman Sachs Annual Leveraged Finance Conference in Dana Point, California. (Source: Bloomberg)