Bryan Bedder With Bill Ackman's Pershing Square ( PS ) going public on April 29, along with its related Pershing Square USA ( PSUS ) closed-end investment management firm, Wall Street analysts are now free to issue their recommendations on Pershing Square For the most part, equity research analysts are giving asset manager PS the equivalent of a Hold rating. They like its business model supported ...
Bryan Bedder With Bill Ackman's Pershing Square ( PS ) going public on April 29, along with its related Pershing Square USA ( PSUS ) closed-end investment management firm, Wall Street analysts are now free to issue their recommendations on Pershing Square For the most part, equity research analysts are giving asset manager PS the equivalent of a Hold rating. They like its business model supported by permanent capital, high recurring fee rates, and strong margins but feel that the company's current stock valuation already prices in its strengths. Bank of America Global Research, RBC Capital Markets, Jefferies, and Oppenheimer gave the stock a Hold-equivalent rating. Citi, though, assigned a Buy/High Risk rating. Jefferies analyst Daniel T. Fannon, with a Hold rating on the company, pointed out that Pershing Square's ( PS ) structure, with ~96% of its fee-paying capital classified as permanent, reduces its exposure to redemption-related outflows and reduces its reliance on recurring fundraising to sustain fee-paying assets. "With a fee-paying AUM base that is predominately in permanent capital vehicles, PS is uniquely positioned versus its peers," he wrote in a note to clients. "However, at 28x our 2027 FRE and 37x our DE (distributable earnings) estimates (both materially above peers), we see the risk/reward as balanced." BofA Securities' Craig Siegenthaler points to many of the same strengths that other analysts are noting. He, though, said that its reliance on Ackman could be a risk if the hedge fund manager decides to reduce his involvement with the company due to retirement or political ambitions. Another risk is its concentrated portfolios. Citi analyst Matthew Heimermann sees the potential for short-term upside in asset gathering or performance. Another potential catalyst, value associated with Howard Hughes-related fees and on-balance-sheet ownership, isn't yet material, he said. "Potential catalysts include investment and fund-raising performance relative to ...
Elbit Systems ( ESLT ) shares rose as much as 11% Tuesday to their highest level in three weeks after the Israeli defense contractor reported first-quarter results that topped Wall Street estimates and highlighted surging global military demand. The stock has more than doubled in the past 12 months. The company reported first-quarter revenue of $2.19 billion, ahead of analysts’ consensus estimate ...
Elbit Systems ( ESLT ) shares rose as much as 11% Tuesday to their highest level in three weeks after the Israeli defense contractor reported first-quarter results that topped Wall Street estimates and highlighted surging global military demand. The stock has more than doubled in the past 12 months. The company reported first-quarter revenue of $2.19 billion, ahead of analysts’ consensus estimate of $2.15 billion. Adjusted earnings also exceeded expectations at $3.87 a share, topping the consensus estimate of $3.33. Net income rose to $160.9 million, or $3.34 a share, from $107.1 million, or $2.35 a share, a year earlier. Operating income climbed to $205.1 million from $149.7 million a year earlier, while operating margin improved to 9.4% from 7.9%. Adjusted operating margin rose above 10%. The results underscore how rising geopolitical tensions and increased military spending across Europe, the Middle East and Asia are benefiting defense contractors with exposure to advanced weapons systems, drones, electronic warfare and ammunition production. Investors have increasingly gravitated toward companies tied to defense modernization as governments replenish inventories and accelerate procurement following conflicts in Ukraine and the Middle East. Backlog hits record level Elbit ( ESLT ) said its order backlog reached a record $30.2 billion at the end of March, with about 71% tied to international customers. Roughly half of the backlog is scheduled for delivery through the remainder of 2026 and 2027. Growth was led by ammunition sales in Israel and Europe, as well as stronger demand for radio systems, command-and-control products, high-power laser systems and electronic warfare technologies. Cash flow from operations increased to $281 million from $183.6 million a year earlier. The company also declared a quarterly dividend of $1.00 per share. CEO highlights growing defense demand “We began 2026 with a strong quarter across all key metrics, including double-digit growth...
Sandisk Corporation (SNDK +7.41%) stock soared 8.6% through 10:25 a.m. ET Tuesday on improved sentiment for semiconductor stocks -- and a big boost for its memory-chip archrival Micron (MU +16.35%). You can thank Japanese megabank Mizuho for the boost. Mizuho loves memory stocks Today's catalyst comes from Mizuho, which this morning reiterated its outperform rating and $800 price target on Micron....
Sandisk Corporation (SNDK +7.41%) stock soared 8.6% through 10:25 a.m. ET Tuesday on improved sentiment for semiconductor stocks -- and a big boost for its memory-chip archrival Micron (MU +16.35%). You can thank Japanese megabank Mizuho for the boost. Mizuho loves memory stocks Today's catalyst comes from Mizuho, which this morning reiterated its outperform rating and $800 price target on Micron. Citing strong demand for computer memory driven by the growth of artificial intelligence, Mizuho predicts the memory market will remain 30% to 50% undersupplied throughout 2026 and 2027, and the price of high-bandwidth memory, in particular, could surge 70% to 100% next year. That's great news for Micron, of course -- but what does it mean for Sandisk? Expand NASDAQ : SNDK Sandisk Today's Change ( 7.41 %) $ 109.52 Current Price $ 1588.21 Key Data Points Market Cap $219B Day's Range $ 1520.50 - $ 1632.00 52wk Range $ 36.21 - $ 1632.00 Volume 188.3K Avg Vol 17.1M Gross Margin 56.04 % What this means for Sandisk After all, while Micron makes both DRAM chips (used to manufacture high-bandwidth memory (HBM) and NAND flash memory, Sandisk only makes NAND. Doesn't this mean that Mizuho's bullish HBM note is relevant only for Micron, and not for Sandisk at all? Not necessarily. Sandisk has an answer to Micron's HBM business, you see, and it's called High Bandwidth Flash, or HBF -- and just last week, Mizuho was talking about rising demand for HBF, predicting that this will also cause NAND supply to contract in 2027. Granted, at the time, Mizuho was still talking about Micron. But this is a market where Sandisk can compete as well -- which probably explains why good news for Micron today is sending Sandisk stock higher. And what it means for you All this said, Sandisk stock does cost 50 times earnings, and Micron only 35x. On a day when Micron is being boosted, and Sandisk is just drafting off Micron's good news, the logical thing to do is buy Micron instead of Sandisk. Sometimes, ...
Eli Lilly & Co. is buying three clinical-stage vaccine developers for as much as $3.8 billion as it looks to become a leader in infectious diseases. The drugmaker has been using cash from its obesity drugs to expand into other disease areas. Bloomberg's Gerry Smith reports. (Source: Bloomberg)
Eli Lilly & Co. is buying three clinical-stage vaccine developers for as much as $3.8 billion as it looks to become a leader in infectious diseases. The drugmaker has been using cash from its obesity drugs to expand into other disease areas. Bloomberg's Gerry Smith reports. (Source: Bloomberg)
(May 26): Micron Technology topped US$1 trillion (RM3.9 trillion) in market value for the first time on Tuesday, crowning a dizzying rally that has cemented the largest US memory chipmaker as one of the standout winners of the AI boom. Micron's shares were last up 18% at US$886.6 — a record high — with Tuesday's boost coming after brokerage UBS increased its price target on the stock to US$1,625 f...
(May 26): Micron Technology topped US$1 trillion (RM3.9 trillion) in market value for the first time on Tuesday, crowning a dizzying rally that has cemented the largest US memory chipmaker as one of the standout winners of the AI boom. Micron's shares were last up 18% at US$886.6 — a record high — with Tuesday's boost coming after brokerage UBS increased its price target on the stock to US$1,625 from US$535, which is the highest among the 46 brokerages covering the company, according to LSEG data. The milestone, which underscores memory chips' central role in AI infrastructure, also reflects a broader shift in the AI trade as investors seek out companies that can benefit from Big Tech's massive spending plans after initially crowding into makers of graphics processors. South Korea's Samsung Electronics, the world's top memory chipmaker, has already hit the US$1 trillion milestone, while SK Hynix is also closing in. While Nvidia makes the powerful processors used to train and run AI models, Micron mainly produces memory chips used to store and move data. The company's ascent gives the US a strong contender in a memory-chip race that has largely been led by Asia so far. Shares of Micron, long viewed as one of the semiconductor industry's most cyclical names, have jumped more than eightfold in the last 12 months, thanks to strong earnings and supply chain constraints that have given it pricing power. With technology companies racing toward artificial general intelligence, customers are committing to longer-term data center investments that have fueled a sharp rise in demand for advanced memory and storage, creating a supply crunch and driving price increases. Micron has said its entire 2026 high-bandwidth memory (HBM) chip supply is already sold out, a sign of how far demand is outstripping capacity. Its next-generation HBM4 products are now in production. The company emerged as one of the biggest institutional favorites in the first quarter of the year, according t...
May 26 (Reuters) - Micron Technology topped $1 trillion in market value for the first time on Tuesday, crowning a dizzying rally that has cemented the largest U.S. memory chipmaker as one of the standout winners of the AI boom. Micron's shares were last up 18% at $886.6 - a record high - with Tuesday's boost coming after brokerage UBS increased its price target on the stock to $1,625 from $535, ...
May 26 (Reuters) - Micron Technology topped $1 trillion in market value for the first time on Tuesday, crowning a dizzying rally that has cemented the largest U.S. memory chipmaker as one of the standout winners of the AI boom. Micron's shares were last up 18% at $886.6 - a record high - with Tuesday's boost coming after brokerage UBS increased its price target on the stock to $1,625 from $535, which is the highest among the 46 brokerages covering the company, according to LSEG data. The milestone, which underscores memory chips' central role in AI infrastructure, also reflects a broader shift in the AI trade as investors seek out companies that can benefit from Big Tech's massive spending plans after initially crowding into makers of graphics processors. South Korea's Samsung Electronics, the world's top memory chipmaker, has already hit the $1 trillion milestone, while SK Hynix is also closing in. While Nvidia makes the powerful processors used to train and run AI models, Micron mainly produces memory chips used to store and move data. The company's ascent gives the U.S. a strong contender in a memory-chip race that has largely been led by Asia so far. Shares of Micron, long viewed as one of the semiconductor industry's most cyclical names, have jumped more than eightfold in the last 12 months, thanks to strong earnings and supply chain constraints that have given it pricing power. With technology companies racing toward artificial general intelligence, customers are committing to longer-term data center investments that have fueled a sharp rise in demand for advanced memory and storage, creating a supply crunch and driving price increases. Micron has said its entire 2026 high-bandwidth memory (HBM) chip supply is already sold out, a sign of how far demand is outstripping capacity. Its next-generation HBM4 products are now in production. The company emerged as one of the biggest institutional favorites in the first quarter of the year, according to r...
AI Startup Says It Will Pay People $2,000 A Month to Masturbate... Yes, Really Authored by Jason Nelson via Decrypt.co, Joi AI is hiring 10 “masturbation consultants” at $2,000 for a month to test an AI-guided masturbation feature and document its effects on stress, sleep, mood, and confidence. The feature uses mood-matched AI voice sessions, and consultants would submit written feedback and quest...
AI Startup Says It Will Pay People $2,000 A Month to Masturbate... Yes, Really Authored by Jason Nelson via Decrypt.co, Joi AI is hiring 10 “masturbation consultants” at $2,000 for a month to test an AI-guided masturbation feature and document its effects on stress, sleep, mood, and confidence. The feature uses mood-matched AI voice sessions, and consultants would submit written feedback and questionnaires directly to the company. Joi AI says the campaign is intended to collect product feedback while drawing attention to AI’s growing role in sexual wellness and digital intimacy. Joi AI says it will pay people $2,000 a month to masturbate. Yes, you read that right. The AI companion startup is hiring 10 “masturbation consultants” to test a feature called Daily Guided Masturbation , which uses mood-matched AI voice sessions to guide users through the experience. Participants would document how regular use affects stress, sleep quality, mood, and confidence. The four-week role is open to adults 18 and older in the U.S. and the U.K. “The role is real, and we’ve had great responses since the posting went live,” Joi AI Head of Brand and Communication Julie Levin told Decrypt. we’re hiring 10 Masturbation Consultants $2,000/month to test our new Daily Guided Masturbation feature and document the effects on stress, sleep and mood yes it’s real yes you get paid — Joi AI (@joi___ai) May 18, 2026 The listing describes ideal candidates as “articulate, observant, and impossible to blush”—people who can describe sensations “better than a sommelier describes a wine.” The posting also promises flexible scheduling, and “the most interesting ‘What do you do for a living?’ answer at any party.” Joi AI is an online platform that includes AI-generated avatars, voice interactions, and personalized chat experiences built around companionship and intimacy. Joi AI describes the new consultant role as structured product testing tied directly to its new feature. “The role involves testing and ...
Luis Alvarez/DigitalVision via Getty Images Investment thesis The Joint Corp (NASDAQ: JYNT ) is transforming itself from a traditional clinic operator into an asset-light franchisor focused on collecting recurring royalties. While the market remains skeptical due to declining clinic count and negative comp sales, I think the market may be underestimating how much the refranchising strategy could i...
Luis Alvarez/DigitalVision via Getty Images Investment thesis The Joint Corp (NASDAQ: JYNT ) is transforming itself from a traditional clinic operator into an asset-light franchisor focused on collecting recurring royalties. While the market remains skeptical due to declining clinic count and negative comp sales, I think the market may be underestimating how much the refranchising strategy could improve margins and free cash flow over the next few years. The core business still needs to prove it can return to consistent growth, but if management successfully stabilizes comps and completes the transition to a pure franchise model, the current valuation looks attractive. Leader in the chiropractic clinics industry The Joint has chiropractic clinics, which is a fairly simple business, but in this case, the company is looking to scale the business by creating clinics where appointments and insurance aren't required. Also, their locations are typically in high-traffic shopping malls, so I see it as a chiropractic clinic with a focus like quick service restaurants or a gym franchise, where the key is to be everywhere and reduce barriers for potential new clients. This approach seems to work because management estimates that 41% of new patients in 2025 were first-time chiropractic users. So, it seems that the convenience of their clinics attracts those people who had never before thought about going to a chiropractor. The Joint Corp investor presentation The sector is highly fragmented, which makes sense because it's not the typical business where you see large chains of clinics. Rather, it consists of independent clinics with a single owner. The Joint estimates that there are currently more than 38,000 independent chiropractic practices in the United States, while most of the large chains still operate fewer than 150 clinics compared to The Joint's 943 centers, making it the largest operator in the sector by a significant margin. Even so, the company estimates that it onl...
Wolterk/iStock Editorial via Getty Images My current position on General Mills ( GIS ) is a hold, but not a place for new money today. The major stock price decline has already taken place, and the dividend remains covered by company profits. Management appears to recognize the challenges caused by changing consumer habits and is responding to those pressures. Investors still need proof these chan...
Wolterk/iStock Editorial via Getty Images My current position on General Mills ( GIS ) is a hold, but not a place for new money today. The major stock price decline has already taken place, and the dividend remains covered by company profits. Management appears to recognize the challenges caused by changing consumer habits and is responding to those pressures. Investors still need proof these changes will stabilize sales, improve profit margins, and stop the decline in the stock price. Company Challenges Over the last year, General Mills stock price declined nearly 40% by mid-May . Investors have been reacting to several challenges facing the company. Inflation pushed many consumers toward lower-cost store brands as families looked for ways to reduce grocery bills. Consumers are changing eating habits and the growing use of GLP-1 weight loss drugs has some users eating less, skipping meals, or changing eating habits toward healthier foods. These pressures have slowed sales growth and squeezed profit margins, leading investors to question how quickly the company can adjust. The good news for investors is General Mills remains profitable while management works through these challenges. The company continues paying its dividend and still benefits from decades of brand recognition across many of its products. For investors, the question is no longer whether the company survives, but whether management can stabilize sales and rebuild confidence in the business. Stock Price Fell Faster Than Company Value Yahoo Finance and company financial filings. Investors have already sold down the stock price from near $55 to the current price near $33. The book value listed in the last quarterly report was $16.98. That means last year’s stock price near $55 traded at a little over 3x book value, while today’s stock price near $33 trades at a little under 2x book value. The market has clearly lowered expectations for the company as investors wait to see whether General Mills can stabi...