The State Street Health Care Select Sector SPDR ETF (NYSEMKT:XLV) provides low-cost, passive exposure to established healthcare giants, while the Simplify Health Care ETF (NYSEMKT:PINK) offers an active strategy targeting medical breakthroughs. Investors evaluating the healthcare sector could choose between the stability of established medical giants and the high-growth potential of cutting-edge i...
The State Street Health Care Select Sector SPDR ETF (NYSEMKT:XLV) provides low-cost, passive exposure to established healthcare giants, while the Simplify Health Care ETF (NYSEMKT:PINK) offers an active strategy targeting medical breakthroughs. Investors evaluating the healthcare sector could choose between the stability of established medical giants and the high-growth potential of cutting-edge innovation. While both funds operate within the medical sector, they differ significantly in their investment philosophies. The State Street fund tracks a well-known index, whereas the Simplify fund employs active management led by Michael Taylor, who utilizes over 20 years of experience to navigate the complexities of the biotech and medtech industries. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield. Continue reading
master1305/iStock via Getty Images In this article, we will look at another REIT company, CTO Realty Growth ( CTO ), and its financial instruments, and we will try to give it a credit rating. CTO is a small US REIT with a market cap of around $673 million, focused on shopping centers in fast-growing markets in the South and Southeast of the US. The company is not a star, but it offers something sp...
master1305/iStock via Getty Images In this article, we will look at another REIT company, CTO Realty Growth ( CTO ), and its financial instruments, and we will try to give it a credit rating. CTO is a small US REIT with a market cap of around $673 million, focused on shopping centers in fast-growing markets in the South and Southeast of the US. The company is not a star, but it offers something specific: stable rents, an almost entirely unsecured balance sheet, and a preferred stock ( CTO.PR.A ) with a current yield of over 7.5%. And if you are interested in our last analysis for the company, you can see it here. CTO highlights (ctoreit.com) CTO has close to $1.29 billion in total assets at the end of the first quarter of 2026. Its total debt is close to $651.6 million, and the EBITDA is approximately $95.6 million. The current market capitalization of CTO is around $673 million. The company has 146,000 square feet of comparable leasing activity. The largest part of it is 13% in the "Casual Dining" industry and 10% in "Off-Price Retail". industry composition (ctoreit.com) From Q1, we calculated the asset yield of the company to be close to 7.46% and the asset coverage ratio to be around 199%. The operating expenses, excluding depreciation and amortization, are around 37% of the revenue. The interest expenses are close to 4.3% of the total debt. We use the price/book ratio, which at the timе of writing is 1.15, to cаlculаte the market-adjustеd ratios. The market-adjusted asset yield is around 7%, and the market-adjusted asset coverage ratio is close to 212%. The expected AFFO yield of CTO is around 11.09%. The forward AFFO is 9.02. Below are shown the basic valuation metrics of the company: CTO basic valuation metrics (seekingalpha.com) Preferred Stock CTO's preferred stock (author's database) CTO's preferred stock ( CTO.PR.A ) was issued on 06/28/2021 with a coupon rate of 6.38% and a spread to the treasury yield close to 4.28%. At the time of writing, the preferred...
Federal judge rules policies unlawfully barred applicants from receiving decisions on asylum, green cards and more The Trump administration unlawfully barred applicants from 39 travel-ban countries from receiving decisions on asylum, work permits, green cards and citizenship applications, a US federal judge ruled on Friday. The decision came on the same day that the US Senate voted to pass legisla...
Federal judge rules policies unlawfully barred applicants from receiving decisions on asylum, green cards and more The Trump administration unlawfully barred applicants from 39 travel-ban countries from receiving decisions on asylum, work permits, green cards and citizenship applications, a US federal judge ruled on Friday. The decision came on the same day that the US Senate voted to pass legislation to fund Donald Trump’s controversial immigration crackdown Continue reading...
The question in our headline has a short answer based on our proprietary model: probably not in 2026. But the longer answer is more interesting, because the bull case scenario for DraftKings (NASDAQ:DKNG) does get close to doubling within 12 months, and DKNG’s Predictions launch could reset the entire valuation conversation before year-end. Our 24/7 ... Price Prediction: Can DKNG Stock Double This...
The question in our headline has a short answer based on our proprietary model: probably not in 2026. But the longer answer is more interesting, because the bull case scenario for DraftKings (NASDAQ:DKNG) does get close to doubling within 12 months, and DKNG’s Predictions launch could reset the entire valuation conversation before year-end. Our 24/7 ... Price Prediction: Can DKNG Stock Double This Year?
The S&P 500 Index ($SPX ) (SPY ) today is down -0.90%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.32%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.85%. June E-mini S&P futures (ESM26 ) are down -1.07%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) today is down -0.90%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.32%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.85%. June E-mini S&P futures (ESM26 ) are down -1.07%, and June E-mini Nasdaq futures...
Morgan Stanley Projects SpaceX Revenue Hitting Stratospheric $3.4 Trillion In 2040, $2.7 Trillion In EBITDA Yesterday we shared a forensic analysis of the mechanics of the $75 billion SpaceX IPO and how to trade it, while specifically saying we are leaving the fundamentals aside. The reason for that is that the historicals of the company are, to put it mildly, problematic when it comes to projecti...
Morgan Stanley Projects SpaceX Revenue Hitting Stratospheric $3.4 Trillion In 2040, $2.7 Trillion In EBITDA Yesterday we shared a forensic analysis of the mechanics of the $75 billion SpaceX IPO and how to trade it, while specifically saying we are leaving the fundamentals aside. The reason for that is that the historicals of the company are, to put it mildly, problematic when it comes to projecting how the company grows into a multi-trillion behemoth. As a reminder, SpaceX posted revenue of just under $20 billion for the LTM period, with approximately $6 billion EBITDA and loss of $4 billion, virtually all driven by the conglomerate's Connectivity (Starlink) division and to a lesser extend, the Launch Services division. Solid numbers on their own, but do they justify a $1.75 trillion in valuation? So how exactly does SpaceX get from here to there? We got the answer this morning courtesy of the WSJ which got its hands on an analysis shared by Morgan Stanley with top investors. Needless to say, to support the $1.77 trillion valuation Elon Musk’s SpaceX is targeting in its IPO, bankers are telling investors to look to the future.... far into the future. Morgan Stanley projects that SpaceX’s revenue could reach $3.4 trillion in 2040 . The bank told investors the rocket maker’s adjusted EBITDA in 2040 could top $2.7 trillion, or a largely unheard of 80% EBITDA margin . Some more details: the WSJ also notes that sellside analysts at Goldman Sachs and Morgan Stanley both projected SpaceX’s revenue would be near $160 billion in 2028, up from $20 billion currently. Goldman estimated that the rocket company’s revenue would exceed $470 billion in 2030, while Morgan Stanley projected it would reach nearly $330 billion. Goldman and Morgan Stanley expect SpaceX to have adjusted EBITDA of around $110 billion in 2028 and $352 billion and $230 billion, respectively, in 2030. Using these data, we have charted how SpaceX revenue and EBITDA would have to grow (assuming a 2028 baseline...
Alistair Berg/DigitalVision via Getty Images Along with the now double-digit number of individual stocks with market caps exceeding $1 trillion, an ETF has joined the trillion-dollar club: VOO. The Vanguard S&P 500 ETF ( VOO ), which allows investors to own the entirety of the S&P 500, had less than $200 billion in assets under management (AUM) as recently as 2021, but this week, VOO's AUM crossed...
Alistair Berg/DigitalVision via Getty Images Along with the now double-digit number of individual stocks with market caps exceeding $1 trillion, an ETF has joined the trillion-dollar club: VOO. The Vanguard S&P 500 ETF ( VOO ), which allows investors to own the entirety of the S&P 500, had less than $200 billion in assets under management (AUM) as recently as 2021, but this week, VOO's AUM crossed above $1 trillion for the first time in history. As shown below, while the S&P 500 has returned 158.6% since the start of 2020, VOO - an ETF that tracks the index - has seen AUM grow by 667.7%. Below is a list of the ten largest equity ETFs traded on US exchanges. The Vanguard S&P 500 ETF ranks at the top of the list, followed by the iShares S&P 500 ETF ( IVV ) at $855.4 billion, then the State Street S&P 500 ETF ( SPY ) at $789.8 billion. As most seasoned investors know, SPY was the first-ever US ETF that began trading in 1993, but its 0.09% annual fee has kept it from remaining on top when it comes to AUM. Both VOO and IVV charge just 3 basis points (0.03%) per year. To compete, State Street also offers SPYM, which has a fee that's one basis point less than the 0.03% charged by VOO and IVV, but SPYM AUM currently sits at $148.5 billion. Combined, the ten largest equity ETFs now have $4.65 trillion in AUM, up $3.6 trillion since the start of 2020. Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
The May employment data landed with a thud for bond bulls, with implications for Treasury proxies like the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT). May nonfarm payrolls rose 172,000, the best number since March, when the figure came in at 185,000, and well above expectations. CNBC’s Rick Santelli, reacting on Squawk Box, asked, “Is ... The Jobs Report Released Today Was Great. That’s Bad N...
The May employment data landed with a thud for bond bulls, with implications for Treasury proxies like the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT). May nonfarm payrolls rose 172,000, the best number since March, when the figure came in at 185,000, and well above expectations. CNBC’s Rick Santelli, reacting on Squawk Box, asked, “Is ... The Jobs Report Released Today Was Great. That’s Bad News for Bond Yields.
peshkov Chip and AI-related stocks slumped on Friday as the broader market also saw red amid the May labor report and complications surrounding prospects for a U.S.-Iran peace deal. The tech-focused Nasdaq Composite ( COMP:IND ) fell around 2.3%. At the same time, the benchmark S&P 500 ( SP500 ) slipped about 1.08%. The blue-chip Dow ( DJI ) declined around 0.55%. The market was also lower as trad...
peshkov Chip and AI-related stocks slumped on Friday as the broader market also saw red amid the May labor report and complications surrounding prospects for a U.S.-Iran peace deal. The tech-focused Nasdaq Composite ( COMP:IND ) fell around 2.3%. At the same time, the benchmark S&P 500 ( SP500 ) slipped about 1.08%. The blue-chip Dow ( DJI ) declined around 0.55%. The market was also lower as traders assessed May's labor report. Meanwhile, fighting between Israel and Iran-backed Hezbollah continues to complicate prospects for ending the Iran war. It was not clear how close the U.S. and Iran are to striking a deal to renew their ceasefire and reopen the Strait of Hormuz, despite optimism last week, CBS reported . Shares of AI chipmaker Nvidia ( NVDA ) fell about 4%. However, DA Davidson’s head of technology research, Gil Luria, said that Nvidia's profit margins are relatively safe through 2030 because hyperscalers have few alternatives for the chips powering data centers for AI. Meanwhile, Advanced Micro Devices ( AMD ) and Qualcomm ( QCOM ) each tumbled nearly 7%. A rating upgrade by Erste could not help Broadcom ( AVGO ) as it continued to see pressure following its earnings post market on Wednesday. Broadcom declined around 5% Several other AI and networking-related stocks were in the red. Celestica ( CLS ) slumped about 8%, while Corning ( GLW ) plummeted around 7%. Applied Optoelectronics ( AAOI ) and Arista Networks ( ANET ) tumbled nearly 5%, while Coherent ( COHR ) and Ciena ( CIEN ) declined about 4% each. Lumentum ( LITE ) fell about 3%. Arm ( ARM ) tumbled about 9%, while Marvell Technology ( MRVL ), Lattice Semiconductor ( LSCC ), and GlobalFoundries ( GFS ) each slumped nearly 8%. Intel ( INTC ) and Micron Technology ( MU ) each plummeted around 7%. Texas Instruments ( TXN ) fell nearly 5%, while Taiwan Semiconductor Manufacturing ( TSM ) and Analog Devices ( ADI ) each declined about 4%. Chip equipment makers: KLA ( KLAC ) slumped about 6%, while Applie...
The May jobs report was far stronger than expected, and some analysts are pointing to an unusual possible tailwind: World Cup preparation. U.S. nonfarm payrolls rose 172K in May, more than double the 85K consensus estimate, while the unemployment rate held at 4.3%. The upside surprise sparked chatter that hiring tied to the upcoming World Cup may already be showing up in the data. BofA Global Rese...
The May jobs report was far stronger than expected, and some analysts are pointing to an unusual possible tailwind: World Cup preparation. U.S. nonfarm payrolls rose 172K in May, more than double the 85K consensus estimate, while the unemployment rate held at 4.3%. The upside surprise sparked chatter that hiring tied to the upcoming World Cup may already be showing up in the data. BofA Global Research noted that the tournament, which starts next week, is expected to create roughly 200K U.S. jobs. Renaissance Macro Research added in a social media post that it has “certainly seen a pick-up in accommodation & food services employment with nothing (yet) in spending,” calling it possible “front-running.” The point is not that the World Cup explains the entire payroll beat—it does not. But if hotels, restaurants and event-related businesses are staffing ahead of demand, it could help explain why labor data are firming before the spending data fully show it. RenMac More on the U.S. Economy Investment Strategy For The Upcoming Inflationary Recession Macro Insights: The 'Dangerous Market' Playbook, 1999 Redux, And Navigating RAMpocalypse Midyear Forum: Speed Meets Scarcity Trump questions stock selloff after stronger-than-expected 172K jobs gain Treasury yields jump after May payrolls crush expectations
Blue Planet Studio/iStock via Getty Images What Is Really Growing Beneath The +60% After Palo Alto’s ( PANW ) results and analyzing the metric that management believes is the best way to value the company, Next-Generation Security ARR, an adjustment has to be made to those $8.18B that grew 60% year-over-year this quarter. By this I mean that $1.60B of that figure comes from two acquisitions that a...
Blue Planet Studio/iStock via Getty Images What Is Really Growing Beneath The +60% After Palo Alto’s ( PANW ) results and analyzing the metric that management believes is the best way to value the company, Next-Generation Security ARR, an adjustment has to be made to those $8.18B that grew 60% year-over-year this quarter. By this I mean that $1.60B of that figure comes from two acquisitions that are being consolidated for the first time in the accounts, with more than $300M from Chronosphere and $1,300M from CyberArk. In other words, if we leave both aside for now, NGS ARR by itself actually grows to $6.5B at a 28% pace. For me, that is still a very positive growth rate given the size of the company, but not at the pace the headlines suggest. Now moving on to the organic growth engines, SASE, which is the way remote employees and offices connect securely to the cloud, is growing at 40%, reaching $1.6B. XSIAM, the AI-governed security operations center, reaches 740 customers and exceeds $600M in ARR, growing 100% year-over-year. And Prisma AIRS, dedicated to protecting customers’ AI deployments, tripled its base to 300 customers compared with the previous quarter. This clearly shows that the more mature firewall side of the business is on solid ground, but the portfolio dedicated to AI is growing at double and triple-digit rates. As I said, very positive. PANW Then came the turn of the portfolio, and what I did was discount the acquisitions and look at the new net recurring money that came in during the quarter, which is the part the business is able to generate by itself, the aforementioned NGS ARR. Specifically, we are talking about $370M, which is 18% higher than in the same quarter last year, a figure that, in my opinion, seems correct. That said, if the company wants to meet its $20,000M target by 2030, this is the main KPI to watch, because while the total organic stock, that is, the $6.5B it already has accumulated, is growing at +28%, the new flow entering ea...
In this article GLD Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 3:42 03:42 Gold prices are on the move. Here's how options traders can play it Options Action Gold is at a technically precarious juncture, and the good news for you is that options market may be mispricing the risk. The metal is hovering near its 200-day moving average while simultaneously testing the 50% Fibonacc...
In this article GLD Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 3:42 03:42 Gold prices are on the move. Here's how options traders can play it Options Action Gold is at a technically precarious juncture, and the good news for you is that options market may be mispricing the risk. The metal is hovering near its 200-day moving average while simultaneously testing the 50% Fibonacci retracement of its prior advance, a confluence that technical traders don't take lightly. Compounding the bearish setup, several momentum and trend indicators have rolled over: DMI, along with triangular, weighted, and exponential moving averages, are also all pointing lower. The macro backdrop isn't offering much of a counterargument. Inflation stemming from the conflict in Iran is raising the specter of a more hawkish Fed pivot. "Higher for longer" rates are historically corrosive for gold, which pays no yield and competes directly with real rate alternatives. The long-dollar, risk-off playbook that might otherwise support gold as a safe haven is being complicated by the rate trajectory itself. Friday morning's hot jobs report is not helping either. Stock Chart Icon Stock chart icon Gold, YTD I believe the price action likely resolves one of two ways: a decisive bounce off these support levels, or a breakdown that accelerates selling through a technically damaged chart. A prolonged range-bound price action strikes me as the least probable outcome. What makes the current setup particularly interesting from an options perspective is the volatility structure. One, two, and three-month implied volatility is trading near one-year averages. So options aren't pricing in outsized uncertainty, despite the gold sitting at what looks like a critical inflection point. Long options or debit spreads are, at least in absolute terms, fairly priced. Better still, the skew has steepened. Options close to the current spot price have declined more than options further out of the money, so ...
Quantinuum was supposed to be the quantum sector’s most anticipated public listing of the year. While Quantinuum posted a wider net loss and lower revenue for the first quarter, the phenomenon of growing losses and “lumpy” revenue—large infusions of income at inconsistent times—is observed by most players in the industry at some point in their life span.
Quantinuum was supposed to be the quantum sector’s most anticipated public listing of the year. While Quantinuum posted a wider net loss and lower revenue for the first quarter, the phenomenon of growing losses and “lumpy” revenue—large infusions of income at inconsistent times—is observed by most players in the industry at some point in their life span.
PRUDENCIOALVAREZ/iStock via Getty Images It’s National Donut Day, a good excuse for donut devotees and those just looking for a freebie to head to Krispy Kreme ( DNUT ) where the chain is giving away free donuts and a dozen glazed donuts for $2 with any purchase. The event (which actually occurs again in November) and promotion are driving up DNUT by as much as 9% Friday, snapping a three-day losi...
PRUDENCIOALVAREZ/iStock via Getty Images It’s National Donut Day, a good excuse for donut devotees and those just looking for a freebie to head to Krispy Kreme ( DNUT ) where the chain is giving away free donuts and a dozen glazed donuts for $2 with any purchase. The event (which actually occurs again in November) and promotion are driving up DNUT by as much as 9% Friday, snapping a three-day losing streak and positioning the stock at its 200-day resistance. The day is more than just an opportunity to snag a free pastry. It was established in 1938 to honor the “Donut Lassies” of WWI who handed out coffee and donuts to troops on the French front lines to boost morale. The day was also established by the Salvation Army to raise funds for those struggling during the Great Depression. For Krispy Kreme ( DNUT ) the day produces long lines and a huge promotional boost, but unfortunately, it doesn’t offer a meaningful offset to the decline in demand during the summer months. The free donuts and deep discounts also weigh on the company’s already vulnerable net profit margins. Regardless, the performance of the stock on Friday underscores the expectation that free donuts and long lines will give the chain a much-needed sugar rush. More on Krispy Kreme Krispy Kreme, Inc. 2026 Q1 - Results - Earnings Call Presentation Krispy Kreme, Inc. (DNUT) Q1 2026 Earnings Call Transcript Krispy Kreme: A Better Business, But Still Not A Better Stock Krispy Kreme projects 2026 system-wide sales up 2% to 4% to over $2B while targeting $140M to $150M in adjusted EBITDA Krispy Kreme Non-GAAP EPS of -$0.05 misses by $0.03, revenue of $367M beats by $7.57M
Wingstop ( WING ) activated the first national loyalty program in the chain's history last week. Club Wingstop was described as a points-based but experience-led platform positioned as a cultural membership club built on the idea that "members eat first." Strategically, Wingstop ( WING ) is placing the program as an extension of its MyWingstop digital ecosystem and large first-party database, fina...
Wingstop ( WING ) activated the first national loyalty program in the chain's history last week. Club Wingstop was described as a points-based but experience-led platform positioned as a cultural membership club built on the idea that "members eat first." Strategically, Wingstop ( WING ) is placing the program as an extension of its MyWingstop digital ecosystem and large first-party database, finally layering loyalty on top of a business where more than 70% of sales are already digital. The core mechanics follow a familiar quick-service model, with members earning 10 points for every 1 dollar spent on eligible items, and those points can be redeemed for menu staples such as wings, fries, and other qualifying products. Wingstop ( WING ) management highlighted that it expects personalized offers, content, flavors, merchandise, and experiences to drive visit frequency and lifetime value, which will drive incremental sales that will more than offset any negative impact on margins. Mizuho analyst Nick Setyan estimates the loyalty program could contribute more than 3% to same-store sales growth. Meanwhile, BNP Paribas analyst Steve McManus thinks the program should help Wingstop ( WING ) better deliver value to customers, which he noted has been a key friction point as of late. Shares of Wingstop ( WING ) are down more than 40% on a year-to-date basis. Short interest in WING stands at 19.1% of the total float. More on Wingstop I Closed Out My Wingstop Value Portfolio Hedge Wingstop Is Quietly Building An Awe-Inspiring Restaurant Empire Wingstop: Franchise Expansion At Risk As Sales Slow (Rating Downgrade) These 10 mid-cap consumer discretionary stocks are the least attractively valued based on valuation grades Wingstop anticipates 2026 global unit growth of 15% to 16% while guiding for low single-digit same-store sales decline