Truist Financial ( TFC ) posted Q1 earnings that were bolstered by increased investment banking and trading income on Friday but lowered the top end of its 2026 revenue guidance and increased its outlook for expenses. The bank now sees adjusted revenue (taxable equivalent) growth at ~4% vs . its prior guidance of 4%-5% growth. That implies $21.2B of revenue vs. the average analyst estimate of $21....
Truist Financial ( TFC ) posted Q1 earnings that were bolstered by increased investment banking and trading income on Friday but lowered the top end of its 2026 revenue guidance and increased its outlook for expenses. The bank now sees adjusted revenue (taxable equivalent) growth at ~4% vs . its prior guidance of 4%-5% growth. That implies $21.2B of revenue vs. the average analyst estimate of $21.4B. Noninterest expenses for the year are expected to increase ~1.75%, up from the previous view of 1.25%-2.25% growth. Furthermore, Truist ( TFC ) boosted its guidance for share repurchases to ~$5B from its prior guidance of ~$4B and is confident that it will achieve full-year 2027 return on tangible common equity of 15%. For Q2, it expects adjusted revenue to be stable vs. Q1’s $5.2B; consensus is $5.29B. Noninterest expenses are projected to rise 3%-4% from Q1’s $1.1B. The lender expects to buy back up to $1.2B of its shares in Q2, compared with the $1.1B it bought back in Q1. Q1 EPS of $1.09, topping the average analyst estimate of $1.00, rose from $1.00 in Q4 2025 and $0.87 in last year’s Q1. Q1 adjusted revenue of $5.20B, beating the $5.18B consensus, decreased from $5.30B in the prior quarter and increased from $4.95B in the year-ago period. Truist ( TFC ) stock slipped 0.9% in premarket trading. Net interest income (TE) of $3.64B, missing the consensus of $3.65B, dropped from $3.75B in Q4 and climbed from $3.55B in Q1 2025. The Q/Q decline reflected loan repricing partly offset by loan growth and lower deposit costs. Noninterest income of $1.55B, exceeding the $1.52B consensus, was flat from the previous quarter and increased from $1.39B a year ago. The stable Q/Q results were driven by increased investment banking and trading income, offset by other income, primarily due to lower income from certain equity investments and other investments, the company said. Provision for credit losses was $479M, lower than the $456M consensus, down from $512M in Q4 and up from $45...
Departing PM Viktor Orbán admits ‘political era has ended’ as EU says ‘clock is ticking’ to resolve important issues EU officials have arrived in Budapest for high-stakes talks aimed at reshaping the bloc’s strained relationship with Hungary, weeks before the new government takes office, as the country’s departing prime minister, Viktor Orbán, admitted a “political era has ended” and suggested he ...
Departing PM Viktor Orbán admits ‘political era has ended’ as EU says ‘clock is ticking’ to resolve important issues EU officials have arrived in Budapest for high-stakes talks aimed at reshaping the bloc’s strained relationship with Hungary, weeks before the new government takes office, as the country’s departing prime minister, Viktor Orbán, admitted a “political era has ended” and suggested he would stay on as leader of his party in his first interview since the election. Speaking to the pro-government outlet Patrióta, Orbán described Sunday’s election as an “emotional rollercoaster” after the opposition Tisza party won a landslide victory , bringing an end to his 16 years in power. Continue reading...
tzahiV/iStock via Getty Images Kenon Holdings Ltd. ( KEN ) has most of the value coming from OPC Energy Ltd. ( OPCEF ), listed on the TASE, which also owns CPV, in turn, which is involved in power asset generation and development, mainly CCGT plants in Israel and the US. Kenon has a little under 47% of OPC. Other than OPC, since they sold their stake in ZIM Integrated Shipping Services Ltd. ( ZIM ...
tzahiV/iStock via Getty Images Kenon Holdings Ltd. ( KEN ) has most of the value coming from OPC Energy Ltd. ( OPCEF ), listed on the TASE, which also owns CPV, in turn, which is involved in power asset generation and development, mainly CCGT plants in Israel and the US. Kenon has a little under 47% of OPC. Other than OPC, since they sold their stake in ZIM Integrated Shipping Services Ltd. ( ZIM ), their other interest is in Qoros, a company they agreed to sell their stake in, but then had the counterparty not pay and breach the agreement. They won the suit for the original consideration plus interest, but it's not assured to come. Relative to the $4.2 billion market cap, the award is around $315 million in theory owed to KEN, according to the courts in China. It's another possible bump to value, which otherwise sees Kenon trading at around a 37% discount to the market value of OPC. 37% is a decent holding company discount, where we look for at least 40%+ to be more sure of an intrinsic value case for holding companies. The development pipeline is good, and as those are completed, revenue growth should be quite assured, though the war in the Middle East is affecting production and consumption volumes. At least the reinflation caused by this latest leg of the war could bump up compensation to regulated utilities, as tariffs are indexed to energy price levels. With limited upward inflection in natural gas prices as well, spark spreads may develop favourably. We should note that big pipelines are common in listed utilities at OPC's scale, particularly in Europe, where the renewable push is strong. Moreover, European utilities trade at P/Es in the teens , while OPC trades at around 100x P/E, with 365 million NIS in 2025 profit for shareholders and a market cap of 36 billion NIS. At the level of Kenon, the holding company, the NAV discount at 37% is not unattractive, especially if it bumps up in relation to the sale of the Qoros stake if the cash comes through. But we d...
Malaysia’s Prime Minister Anwar Ibrahim is usually seen in carefully choreographed meetings with presidents, kings and regional leaders in Putrajaya. So it was striking to see him instead riding through the city on a casual live stream with Sneako, the controversial 27-year-old American streamer and Muslim convert whose appeal to mainly young male audiences has made him an unlikely cultural figure...
Malaysia’s Prime Minister Anwar Ibrahim is usually seen in carefully choreographed meetings with presidents, kings and regional leaders in Putrajaya. So it was striking to see him instead riding through the city on a casual live stream with Sneako, the controversial 27-year-old American streamer and Muslim convert whose appeal to mainly young male audiences has made him an unlikely cultural figure. For more than an hour on Friday, the live stream gave Anwar a rare chance to sell Malaysia, his...
🚀Is Musk about to 'storm' into Taiwan Semiconductor's territory? $TSLA builds its own chip factory, a $20 billion gamble on AI manufacturing dominance This time, Musk isn't just optimizing the supply chain; he's trying to rewrite it. While most tech companies ar Moomoo
🚀Is Musk about to 'storm' into Taiwan Semiconductor's territory? $TSLA builds its own chip factory, a $20 billion gamble on AI manufacturing dominance This time, Musk isn't just optimizing the supply chain; he's trying to rewrite it. While most tech companies ar Moomoo