In this handout image provided by NASA, Orion snapped this high-resolution selfie in space with a camera mounted on one of its solar array wings during a routine external inspection of the spacecraft on the second day into the Artemis II mission on April 3rd, 2026. | Photo: NASA via Getty Images Humans haven’t set foot on the Moon since NASA’s Apollo 17 mission in 1972. Now, the space agency is racing to get back to the lunar surface under the umbrella of its Artemis program — a nod to the Greek goddess and twin sister of Apollo, whose name was given to NASA’s first program to send humans to the Moon. The program has been plagued by years of delays , development mishaps , and billions of dollars in budget overruns , but the mission is unquestionably ambitious. The goal of Artemis is to create a sustainable presence near the Moon, instead of just sending humans to plant flags and make footprints. The agency also aims to send the first woman to the Moon through the Artemis program. Artemis I successfully completed its uncrewed mission in 2022. On April 2nd, 2026, Artemis II launched from Kennedy Space Center carrying four astronauts in its Orion capsule to travel around the Moon before returning to Earth in 10 days’ time. They’ll test out the hardware and systems that could soon see humans standing on the Moon for the first time in more than 50 years in the Artemis IV mission scheduled for 2028. How can you help NASA astronauts land on the Moon? The European Service Module is guiding Artemis II back to Earth. That’s no moon. OLED black levels from outer space. Artemis II crew is ‘homeward bound’ after swinging by the Moon. First photos of solar eclipse from Artemis II crew look almost too good to be real NASA’s record breaking lunar flyby. NASA’s Orion spacecraft has reached its maximum distance from Earth: 252,756 miles. Artemis II astronauts break a record, name a crater Artemis II crew sets the distance record. The Artemis II astronauts will set a new distance reco...

Investors in the $31 trillion Treasury market are going into a closely-watched report on consumer prices hedging against more losses in government bonds, as a fragile truce between the US and Iran takes hold. Traders beefed up options hedges targeting higher yields on 5-and 10-year Treasuries on Thursday, as they continued recalibrating portfolios for a feared inflationary rebound spurred by last month’s oil price surge. Data from a JPMorgan Chase & Co. investor survey released on Tuesday showed net long positions in the cash market at their least bullish in three weeks. The moves come after last week’s stronger than expected employment report partially soothed growth worries, renewing investors focus on the potential fallout from elevated energy costs — Brent crude prices are up around 60% for the year. Economists surveyed by Bloomberg expect CPI data, set to be released at 8:30 am ET on Friday, to show the biggest monthly increase since June 2022. “Markets are either going to be focused on inflation or employment and given that the latest employment was decent, inflation gets all the attention,” said Jack McIntyre , portfolio manager at Brandywine Global Investment Management. Treasury yields have swung sharply in recent weeks, as investors oscillated between worries over inflation and growth. After backing off from recent highs, the 10-year yield stood at around 4.27% on Thursday, compared to 3.94% at the end of February. Recent days have seen their share of hedges against lower yields as well. Wednesday’s Treasury options flows, for example, included heavy buying of weekly call options targeting a decline in the 10-year yield to around 4.15% by April 17. But while traders have backed off bets on the Federal Reserve delivering an interest-rate hike in 2026, they are only pricing in a roughly 30% chance of a quarter-point cut. That compares with two rate cuts that had been priced earlier this year. “We are positioned defensive here short-term ahead of tomorrow’s C...

Getty Images InvenTrust Properties ( IVT ) is my favorite retail real estate investment trust, and I wish I owned a larger position in it. The REIT is overwhelmingly (97% of the portfolio) concentrated in the Sunbelt region of the United States, and almost 90% of its centers are grocery-anchored. It has modest debt, very few debt maturities over the next few years, high occupancy, affluent surrounding demographics, and best-in-class organic growth rates. In my last coverage of IVT in October 2025, I rated this Sunbelt retail dynamo as a "strong buy." The stock has performed quite well since then, appreciating about 13% while management recently hiked the dividend by over 5%. Seeking Alpha In my view, IVT is extraordinarily well-positioned to maintain its best-in-class fundamental performance in the face of a very favorable environment for high-quality retail real estate. That said, it appears that even in the best of environments, high-quality retail REITs like IVT still only growth bottom-line cash flow per share by the mid-single-digits. Likewise, the dividend is only likely to grow by mid-single-digits as well -- somewhere in the neighborhood of 4-6% annually. Back in October, IVT traded at a core FFO multiple (price/core FFO) of 15.2x and an AFFO multiple of about 18.6x. It yielded about 3.4%. Today, IVT trades at a core FFO multiple of 16.4x and an AFFO multiple of about 20x. It yields 3.15%. While I love this company and wish I owned a larger position in it, there are good and bad prices to pay for every stock. I would argue that 20x AFFO is too much to pay for a stock growing at a mid-single-digit pace. Therefore, IVT is a "hold" today. Update On InvenTrust Properties Overall, not much has changed with IVT since my October article, so I won't rehash every detail about the company. Instead, I'll try to just touch on some updates. The biggest update is that IVT sold almost all of its properties in Southern California in order to reinvest into other regions of t...

格隆汇4月10日｜美国副国务卿兰道今日召见伊拉克驻美大使尼扎尔·希鲁拉，兰道对伊拉克境内民兵组织发动的针对美国外交人员和设施的袭击表示强烈谴责。

Simulations Plus press release ( SLP ): Q2 Non-GAAP EPS of $0.35 beats by $0.05 . Revenue of $24.3M (+8.3% Y/Y) beats by $2.64M . Fiscal 2026 Guidance Revenue $79M - $82M vs consensus of $80.42M Revenue growth 0 - 4% Software mix 57 - 62% Adjusted EBITDA margin 26 - 30% Adjusted diluted EPS $0.75 - $0.85 vs consensus of $0.54 Click to enlarge More on Simulations Plus Simulations Plus, Inc. (SLP) Analyst/Investor Day - Slideshow Simulations Plus, Inc. (SLP) Analyst/Investor Day Transcript Simulations Plus Q2 2026 Earnings Preview Quant snapshot: Delta Air Lines leads top-rated names as Byrna Technologies, Simulations Plus lag Seeking Alpha’s Quant Rating on Simulations Plus

hapabapa/iStock Editorial via Getty Images Amid a very choppy stock market in 2026, value-oriented investors have a clear mandate: to find companies that have lost value that are trading at excellent multiples, while showcasing themselves to beneficiaries rather than victims of AI. Block ( XYZ ), the Jack Dorsey-led parent company of Square and Cash App, has caught my eye as a very compelling fintech play amid a very public layoff of nearly half its staff in late February. Block shares have rebounded slightly on the news but still remain down ~25% from 2025 highs around $80. To me, this is a potential buying window into this stock. Data by YCharts I'm initiating Block with a "Buy" rating. In my view, we have a opportunistic window to buy this stock ahead of a significant plan to boost operating margins this year, at low valuation multiples amid expanding uptake for Cash App. Two businesses with ballooning gross profit Before we get into Block's financial expectations this year, let's first get a solid lay of the land for Block's two main operating segments, which are Cash App and Square. Block primarily generates revenue from a wide swath of fintech activities, ranging from merchant transactions from its Square POS systems and customers using Cash App's debit card to broader lending and "buy now pay later" (BNPL) services as well. Its primary top-line measure is gross profit, which effectively measures the company's take rate against its gross payments volume netted off against transactional expenses. As shown in the chart below, though Block was initially founded as Square (later developing Cash App, originally "Square Cash," later in 2013), it's actually Cash App that now generates the majority, or 61%, of the company's FY25 gross profit. Block gross profit contribution by segment (Block Q4 earnings deck) Cash App is a wide-ranging, digital neobank. Block's strategic vision for Cash App is to become the central banking platform for digital natives, functioning not...

“What’s in a name?” William Shakespeare once asked, but in today’s digital era, a company’s logo may be even more important. As an instantly recognizable visual identifier, a corporate logo has more impact on user perception than a name alone. Logos serve as strategic tools that convey a sense of ...

超微电脑表示，金系列（Gold Series）服务器准备好三个工作日内发货。（财联社）

格隆汇4月10日｜超微电脑(SMCI.O)：金系列（Gold Series）服务器准备好三个工作日内发货。

北京时间4月10日凌晨，美股周四收高，主要股指连续第二个交易日录得涨幅。交易员对美伊之间维持脆弱两周停火协议的前景持乐观情绪。 道指涨275.88点，涨幅为0.58%，报48185.80点；纳指涨187.42点，涨幅为0.83%，报22822.42点；标普500指数涨41.85点，涨幅为0.62%，报6824.66点。 周四原油价格再次上涨。西得克萨斯中质原油(WTI)5月交割期货上涨逾3%，收于每桶97.87美元。国际基准布伦特原油6月交割期货上涨逾1%，收于每桶95.92美元。 在以色列总理本雅明-内塔尼亚胡表示该国已同意与黎巴嫩展开直接谈判后，标普500指数转为上涨，油价也从日内高点回落。伊朗议会议长穆罕默德-巴吉尔-卡利巴夫曾称以色列持续攻击黎巴嫩的行为违反了停火协议。 该大盘市场指数还受到Meta Platforms股价上涨2.6%的支撑，此前该公司推出了新的人工智能模型。市场的防御性板块也出现上涨， 沃尔玛 股价以及Constellation Energy等公用事业公司股价走高。 此轮上涨之前，美国三大主要股指周三均上涨超过2%， 道琼斯 指数创下自2025年4月——当时美国总统特朗普软化了对部分最初高额关税的立场——以来的最佳单日表现。 周二晚，特朗普同意暂停对伊朗的攻击。这场中东冲突已持续五周，导致关键的霍尔木兹海峡关闭。 然而，这项“双面”停火协议取决于伊朗是否同意重新开放海峡。据伊朗外交部长声明，德黑兰同意在接下来两周内重新开放该水道，条件是所有攻击停止。媒体报道称，以色列也已同意停火。 但自停火协议宣布以来，通过海峡的整体运输量仍未改善，只有一些运输干散货（而非石油）的散货船通过了这条关键水道。 特朗普周三表示，在德黑兰完全遵守“真正协议”之前，美国军队将继续部署在伊朗及其周边地区，并警告任何违约行为都将引发比以往任何时候都更大规模的军事回应。 RFG Advisory首席投资官里克-韦德尔表示：“停火协议的存在以及双方都同意这一事实，让投资者有能力相信这种情况将在长期内自行解决。” 不过，他补充说，海峡关闭的时间越长，“重新开放一切的难度就越大，这种供应冲击持续的时间也越长。” 责任编辑：张俊 SF065

oatawa/iStock via Getty Images My Buy call on Sea Limited ( SE ) in December has seen a ~30% correction since. The earlier thesis was bullish because Sea had transitioned into a structurally profitable phase and I expected strong revenue growth combined with a stable and strong FCF margin of 19-20% could drive compounding. It appeared like Sea had moved past a subsidy-led growth phase into a phase where operating leverage and cash generation dominate the narrative. Most of the fundamental strengths in the business seem to be still strong, looking at the Q4 numbers , which means the correction has more to do with the market's caution around long duration expectations than underlying current fundamentals. In Q4, Sea guided to a strong growth in GMV in 2025 (~25% YoY), while the EBITDA guidance is flattish. This means all of the incremental gains are not likely to flow through to EBITDA margins, as Sea prioritizes growth and reinvestments over immediate margin expansion and cash generation. This long term compounding narrative is exactly what markets are shying away from at the moment. The long durations risks explain the market apathy at the moment, but could be an opportunity to top up existing investments in Sea. This is especially applicable for Sea because investments here are not being made in new areas of undefined economics or defensive reinvestments to stay alive but rather appear to be aimed at strengthening existing proven economics. According to management commentary in Q4, this reinvestment choice is not defensive, and several indicators in the business point to reinvestment in strengths (as we will discuss in detail subsequently) It's in a way, our choices on how much we want to draw on the margins versus the growth levers that we have in our hand. Current financials also indicate that reinvestments are not coming at the cost of drastic short-term fundamental deterioration. Gross profits have scaled faster than operating expenses in the past few quarters,...

Microsoft (NasdaqGS:MSFT) joined the launch of the Shared AI License Foundation as a founding board member, forming a collaborative patent network for foundational AI. The company is also co leading Project Glasswing alongside Anthropic, Amazon, Apple, Google, and others to address AI identified software vulnerabilities and related cybersecurity risks. Both initiatives were announced within the past few days as industry wide efforts focused on AI patent access and AI driven security...

以色列谢克尔兑美元创1995年11月份以来收盘新高。（财联社）

近日把私募市场搅得天翻地覆的软件行业问题即将面临一场重大考验，一波债务到期洪峰正渐行渐近。 截至2028年底，将有超过3300亿美元的高收益债、杠杆贷款以及与商业发展公司相关的软件和科技债务到期，其中相当一部分与私募投资者持股的企业相关。当这些公司未来数月寻求再融资时，它们将面临诸多阻力，包括对人工智能（AI）可能削弱甚至取代其产品的担忧，到中东战争推高借贷成本的风险。 知情人士称，一些私募信贷基金直接回避软件业借款人，以缩减其对该行业的敞口。与此同时，一些由私募股权公司计划的软件公司出售交易已经陷入停滞。 MSCI Inc．研究人员表示：“私募信贷基金的软件业借款人杠杆更高，对未来增长预期依赖更强，因此对不利冲击更为敏感。” 以下图表凸显了软件业押注遇挫给私募股权 和信贷 市场造成的压力。 过去15年，私募市场管理人向软件行业配置了数千亿美元，押注软件即服务（SaaS）商业模式能够带来高增 长和 稳定现金流。近年来软件和技术服务约占所有私募股权交易的一半，远超其他任何行业。 近二十年来，这种集中风险因相关基金取得跑赢市场的回报而显得合理，这些基金通常以投资科技等行业为卖点。然而近年来，随着越来越多资金涌入该行业，溢价正在变小。 疫情后低利率时期，私募市场加速押注软件行业，估值飙升，并在2021年达到由私募股权和风险投资推动的创纪录并购规模。由于对冲不足导致借贷成本飙升，并使估值受到质疑，这些交易如今正拖累整体表现。 与此同时，过去18个月人工智能工具的快速进步使得过度集中于单一行业看起来颇为不明智。尽管如此，许多私募市场管理人仍认为这些企业将展现韧性。 然而，投资者已显露担忧：许多人正加速从直接贷款基金中撤资，促使管理人对部分半流动性产品限制赎回。从更广泛来看，高度依赖软件业务的公司，其估值和债务价格正在下跌。在杠杆贷款市场，今年科技类贷款一贯享有的溢价已完全消失。 这种不断上升的压力对信贷投资者来说来得正不是时候。总体而言，2028年将有超过1400亿美元的科技公司债务到期，而企业可能从今年下半年开始寻求再融资。 花旗集团的Michael Anderson和Steph Choe表示，这一到期高峰主要涉及疫情期间低利率环境下发放的贷款。“其中三分之一贷款的信用起始日期仍为2021年，意味着发行人在多年内未证明其进入资本市场的能力。2021年发放、2028年到期的贷...

AMD Plays Central Role As UALink 2.0 Shapes Future AI Clusters Yahoo Finance Singapore

UALink Consortium has ratified the UALink 2.0 Specification for open AI accelerator and chiplet interconnects. The update adds features such as In-Network Compute and standardized interfaces to support distributed AI systems. Advanced Micro Devices (NasdaqGS:AMD) is a key backer of the consortium, tying this standard directly to its AI hardware ambitions. For investors tracking Advanced Micro Devices at a share price of $231.82, this standards news sits alongside very strong recent returns,...

AMD Plays Central Role As UALink 2.0 Shapes Future AI Clusters Yahoo Finance

格隆汇4月10日｜道琼斯指数4月9日（周四）收盘上涨275.88点，涨幅0.58%，报48185.80点； 标普500指数4月9日（周四）收盘上涨41.85点，涨幅0.62%，报6824.66点； 纳斯达克综合指数4月9日（周四）收盘上涨187.42点，涨幅0.83%，报22822.42点。

steele2123/E+ via Getty Images UnitedHealth Group Incorporated ( UNH ) is a best-of-breed health insurer and pharmacy benefits manager trading at a discount to historical valuations. However, the insurance segment is under huge pressure from medical cost inflation, which requires them to push up premium rates. Rate increases are, however, curtailed by government funding pressures. This dynamic, which is compounded by a potential deterioration in the health of the insured risk pool, is keeping the medical cost ratio high. The Q4 2025 results and 2026 guidance announcement coincided with news that the CMS proposal for 2027 Medicare rate increases would be lower than anticipated. The share price dropped up to 20% on earnings day, and continued to drift lower over the 1st quarter, in sympathy with the broader market ( SPY ). Data by YCharts Then, on April 6th, CMS issued updated 2027 rates for Medicare Advantage , which increased the average rates from the originally proposed 0.09% to 2.48%. The market liked the news, with an initial share-price gain of over 10%, which dropped back slightly in subsequent trading. Data by YCharts This has prompted a rash of upgrades on Seeking Alpha, with they key theme that the CMS re-rate is a catalyst for both earnings growth and multiple re-rating. The most bullish upside target given was 30-50%. My thesis is that the impact of the CMS Medicare Advantage re-rating is overstated. The increase lags UNH management's own estimates of medical cost inflation significantly. Furthermore, as I explain below, the detail of the adjustment clearly shows that this is a one-off for 2027. A major technical re-set is deferred for 2027, but can be expected to apply for 2028. All in all, the key challenges to the UNH shareholder proposition that are outlined here remain just as problematic for the company as they were prior to this latest news. I continue to view UNH as the safest bet for investors in managed healthcare, however do not see the CMS re-...

In his annual letter to shareholders, Amazon (AMZN) CEO Andy Jassy highlighted the tech giant's latest push into AI chip manufacturing and forecasts on its AWS business (Amazon Web Services). Yahoo Finance Tech Editor Dan Howley breaks down how Jassy's semiconductor vision may challenge Nvidia (NVDA) and Advanced Micro Devices (AMD).

Interested investors may not want to wait around to get involved with the stock.

Key PointsCoca-Cola is scheduled to report first-quarter results on April 28.

The retail exodus from business development companies has dragged the vehicles’ debt to levels that are starting to look attractive, according to MFS Investment Management ’s Alex Mackey. “Pressure for redemptions that they’re facing likely ends up creating some opportunities within the public credit markets,” the co-chief investment officer for fixed income at the $622 billion asset manager said on the Bloomberg Intelligence Credit Edge podcast. The century-old MFS is eyeing the debt after BDC investors raced for the exits, fearing losses driven by weak underwriting standards and outsized exposure to software firms at risk from artificial intelligence’s rapid advances. The flight from the investment vehicles that lend to mid-size companies has sent a chill through the private credit market, spurring a negative outlook revision on BDCs from Moody’s Ratings. Low leverage and portfolio diversification makes the bonds of some BDCs relatively appealing after spreads blew out, according to Mackey. US BDC spreads jumped as high as 2.6 percentage points above their benchmark last month, from 1.7 in January, Bloomberg compiled data show. Read More: BDC Blowups Are Going to Be a Real Economy Problem “We’ve been spending a lot of time talking about BDCs,” said Mackey. “There’s been a pretty significant dislocation in spreads, in a market where spreads haven’t moved much.” He also noted significant growth in both the amount of investment-grade BDC debt outstanding and the number of issuers. MFS, which oversees $120 billion in fixed income and isn’t an active investor in private credit, aims to find value in BDCs by analyzing loan risk, losses and so-called non-accruals, which refer to loans no longer generating interest income. “You can line up all the public and the private BDCs and you can go through and see which ones have the leverage metrics that are most attractive,” said Mackey. Meanwhile, US high-grade bond risk premia stood at 81 basis points on Wednesday, tighter tha...

The consumer protection agency says the company violated the FTC Act and its Rule on Unfair or Deceptive Fees by "deceptively" advertising ticket prices on its website without clearly disclosing upfront what the total cost would be, including all mandatory fees.

以色列谢克尔兑美元创1995年11月份以来收盘新高。

J Studios/DigitalVision via Getty Images U.K. Prime Minister Keir Starmer said he's “fed up” with the volatility in energy prices due to actions taken by U.S. President Donald Trump and Russian President Vladimir Putin. “I’m fed up with the fact that families across the country see their bills go up and down on energy, businesses’ bills go up and down on energy, because of the actions of Putin or Trump across the world,” Starmer told ITV News, according to CNBC . Starmer's comments come amid surging oil prices due to armed conflict between the U.S., Israel, and Iran. Oil prices have also been impacted by the ongoing war between Russia and Ukraine. More on SPDR S&P 500 ETF Trust, State Street® Energy Select Sector SPDR® ETF AAII Sentiment Survey: Pessimism Retreats Dow Jones And U.S. Stock Market Outlook - Ceasefire Uncertainty Clears And Wall Street Persists Q4 GDP Revision And February PCE: Growth Revised Down, No Relief On Inflation Prediction markets point to Iran de-escalation as Wall Street extends gains Rutte says NATO moving away from U.S. "co-dependency"

格隆汇4月10日｜以色列海法响起警报，黎巴嫩真主党发动火箭弹袭击。

Robert Way/iStock Editorial via Getty Images Since Tencent ( TCEHY ) was last covered (Hold rating), the stock had largely held steady until the start of this year when it began to decline. With the stock down around 21% year to date, it is worth a revisit. Financial context While their share price headed south, Tencent reported fairly robust financials; FY 2025 revenues rose 14% YoY to CNY 751 billion, driven by solid growth in their VAS segment, their largest revenue generator, accounting for nearly 50% of revenues (which covers their domestic and international gaming businesses and social networks), which grew 16% YoY to CNY 370 billion. Within this segment, games remained the growth driver; domestic games, the largest, saw revenues rise 18% YoY to CNY 164 billion, driven by recently released game titles Delta Force, Valorant, and Wuthering Waves, as well as good performance from evergreen titles like Honor of Kings. Tencent’s continued strength and dominance in domestic games, a fairly mature market in China, suggests growth may be driven by market share gains. For perspective, rival NetEase ( NTES ) has been lagging Tencent recently, with their games business growing 10% and 2.5% in FY 2025 and FY 2024, respectively, compared with 18% and 10% for Tencent, respectively. International games accelerated in 2025, rising 33% YoY to CNY 77.4 billion, helped by Supercell’s games, PUBG Mobile, and Wuthering Waves. This is a stellar performance and may also be indicative of market share gains. For perspective, Microsoft ( MSFT ) reported a 16% YoY growth in their Xbox content and services revenue for FY 2025, which was partially driven by their mammoth acquisition of Activision Blizzard, in contrast to Tencent, whose growth was largely organic. Social Networks revenues inched up 5% YoY to CNY 28 billion, helped by music subscription revenues from their music division, Tencent Music (up 16% in FY 2025), which helped offset weakness in their long form video segment, which...

格隆汇4月10日｜美股周四收盘，道指初步收涨0.58%，标普500指数涨0.6%，纳斯达克综合指数涨0.8%，后两者实现连续7个交易日上涨。亚马逊(AMZN.O)涨超5%，闪迪(SNDK.O)涨9%，英伟达(NVDA.O)涨1%。纳斯达克中国金龙指数收跌1.3%，蔚来汽车(NIO.N)和百度(BIDU.O)均跌超4.5%，阿里巴巴(BABA.N)涨近2%。

格隆汇4月10日｜巴西基准股指收报195,370.10点，创历史新高。