M. Suhail/iStock Editorial via Getty Images In today’s column, we continue our coverage of the regional bank earnings season by checking in on M&T Bank ( MTB ). As one of the larger and more sophisticated regional players in our coverage universe, M&T Bank often provides the first real look at how the commercial and industrial sectors are weathering the current interest rate environment and recent...
M. Suhail/iStock Editorial via Getty Images In today’s column, we continue our coverage of the regional bank earnings season by checking in on M&T Bank ( MTB ). As one of the larger and more sophisticated regional players in our coverage universe, M&T Bank often provides the first real look at how the commercial and industrial sectors are weathering the current interest rate environment and recent economic concerns stemming from the Iran War. Of course, the stock has seen some interesting price action leading up to this report, having faced some pressure alongside the broader financial sector over the last month. It has recovered here some in April with the market rebound. After digging through the just- reported Q1 results, we see the bank as continuing to be resilient with disciplined capital management. Despite the broader macroeconomic concerns, M&T Bank managed to deliver a report that exceeded expectations on several fronts. We think the bank stock is a buy. In this column, we will break down the key metrics and discuss what this means for investors. Let us discuss. Headline Results M&T Bank reported headline results that significantly outpaced what analysts were looking for. The bank reported EPS of $4.13, up nicely from the $3.38 reported in the same quarter last year. On an adjusted basis, the beat was even more pronounced, coming in at $4.18, well above the consensus estimate of $4.01. This was driven by a nice top-line move. Total revenue was $2.44 billion, up 6% year-over-year. This revenue growth was primarily fueled by a 3% rise in net interest income and a very strong 13% increase in non-interest income. Solid results overall here. It is impressive to see this kind of top-line growth at a time when many regional peers are struggling to maintain momentum, though it is early in our coverage of Q1 earnings season. Margins Expanded One of the most critical indicators we follow for the banking sector is the net interest margin, and M&T Bank did not disappo...
(RTTNews) - Sandoz AG (SDZNY) announced on Wednesday, that it has signed a direct manufacturing and supply agreement with the Rwanda government to ensure a stable supply of essential medicines, with plans to extend distribution to selected African countries.
(RTTNews) - Sandoz AG (SDZNY) announced on Wednesday, that it has signed a direct manufacturing and supply agreement with the Rwanda government to ensure a stable supply of essential medicines, with plans to extend distribution to selected African countries.
Netgear is the first major vendor of consumer routers to obtain an exemption from the US government's sweeping ban on foreign-made routers. The Federal Communications Commission yesterday announced an exemption for Netgear's Nighthawk and Orbi routers, and its cable gateways and modems. It came about three weeks after the FCC said it would no longer approve consumer-grade routers made at least par...
Netgear is the first major vendor of consumer routers to obtain an exemption from the US government's sweeping ban on foreign-made routers. The Federal Communications Commission yesterday announced an exemption for Netgear's Nighthawk and Orbi routers, and its cable gateways and modems. It came about three weeks after the FCC said it would no longer approve consumer-grade routers made at least partly outside the US, except in cases where the Department of Defense or Department of Homeland Security determines that the router does not pose national security risks. Under the new router ban, the Trump administration decides—through an opaque process in which it's unclear why any particular company receives an exemption—which companies' devices can be sold to consumers. Netgear, which is based in the US, was able to move quickly through the multi-agency approval process. Read full article Comments
May ICE NY cocoa (CCK26 ) today is down -93 (-2.61%), and May ICE London cocoa #7 (CAK26 ) is down -75 (-2.87%). Cocoa prices fell from 1.75-month highs and turned lower today, as the recent rally has sparked hedge selling among cocoa producers and traders. The Ivory Coast's Le...
May ICE NY cocoa (CCK26 ) today is down -93 (-2.61%), and May ICE London cocoa #7 (CAK26 ) is down -75 (-2.87%). Cocoa prices fell from 1.75-month highs and turned lower today, as the recent rally has sparked hedge selling among cocoa producers and traders. The Ivory Coast's Le...
Artificial intelligence lab Anthropic is exploring the possibility of designing its own chips, three sources said, as the company and its rivals respond to a shortage of AI chips needed to power and develop more advanced AI systems. Samuel Boivin | Nurphoto | Getty Images Anthropic on Wednesday said it experienced elevated error rates across its Claude chatbot , its application programming interfa...
Artificial intelligence lab Anthropic is exploring the possibility of designing its own chips, three sources said, as the company and its rivals respond to a shortage of AI chips needed to power and develop more advanced AI systems. Samuel Boivin | Nurphoto | Getty Images Anthropic on Wednesday said it experienced elevated error rates across its Claude chatbot , its application programming interface and its coding assistant, Claude Code, according to the company's status page . As of 1:50 p.m. ET, all systems are operational. At around 12:30 p.m. ET, Anthropic said it has seen success rates for logins to its chatbot stabilize, and that it was working to "fully resolve this issue." The company began investigating errors at 10:53 a.m. ET, the status page said. Anthropic was founded in 2021 by a group of researchers and executives who defected from OpenAI, and was valued at $380 billion as of February. The company is best known for developing a family of artificial intelligence models called Claude, and its products, particularly Claude Code, have exploded in popularity over the last year. The startup had early success selling to large enterprises, as companies spend billions of dollars to deploy AI across their workforces. Anthropic is engaged in a fierce competition for enterprise market share against rivals, including Google and OpenAI , which was valued at $850 billion in its latest fundraising round in late March. On Downdetector, a site that logs user reports of internet issues, roughly 2,000 users were reporting issues with Claude as of 1:12 p.m. ET, down from roughly 6,000 users at 10:42 a.m. ET. Around 500 users were reporting issues by 1:34 p.m. ET. WATCH: Anthropic co-founder says company in process of broadening Mythos access: Semafor event watch now VIDEO 2:08 02:08 Anthropic co-founder says company in process of broadening Mythos access: Semafor event Power Lunch Choose CNBC as your preferred source on Google and never miss a moment from the most trusted ...
hapabapa/iStock Editorial via Getty Images Introduction Since the last time I covered Workday, Inc. ( WDAY ), the company’s share price tumbled 45%, and now that we have the full-year performance out, I thought it would be a good time to revisit it. This massive reset in valuations, I think, was overdone, and I believe that there is a good opportunity for the long-term investor to invest in Workda...
hapabapa/iStock Editorial via Getty Images Introduction Since the last time I covered Workday, Inc. ( WDAY ), the company’s share price tumbled 45%, and now that we have the full-year performance out, I thought it would be a good time to revisit it. This massive reset in valuations, I think, was overdone, and I believe that there is a good opportunity for the long-term investor to invest in Workday at these levels. The Performance Let’s take a look at the overall top-line performance over the last year , now that we have all the information needed. In general, we can see that the company’s revenues have been trending in the right direction, with no meaningful slowdown that I can see. A 13.1% y/y increase overall is respectable. Subscription revenues were up 14.5% to $8.833B, while professional services declined slightly to $719m. Seeking Alpha Overall, the company saw revenue growth accelerating in the last quarter of the year, which is the opposite of some other companies that I covered in the past, which experienced a massive decline in their share price. The growth was very steady, and then it increased, while the share price declined by over 49% for the year. Author's build In terms of profitability, I can see that margins across the board improved quite a bit as well. Gross margins remained steady, while the largest improvement can be seen in the company’s EBIT and EBITDA margins. Both are improving by around 460 bps. That is quite a profitability boost. The management attributed the overall improvements to ongoing efficiencies, like slower headcount growth and process/AI-driven cost optimizations. Seeking Alpha An even more impressive metric that SA doesn’t capture is the company’s non-GAAP operating margin, which came in at around 30.5% for the year. I thought the EBITDA margin would be close to that, but it seems that the company does a lot more adjustments in general to get to such a number. Share-based compensation accounted for 15% of the increase, which ...
Gargolas/iStock via Getty Images Public Service Enterprise Group ( PEG ) down 1.3% in Wednesday's trading as Jefferies downgraded the utility to Hold from Buy with an $89 price target, citing lower confidence in a nuclear data center deal as New Jersey's ratepayer protection pledge reduces hyperscaler interest in contracting with existing assets without new generation. Jefferies analyst Paul Zimba...
Gargolas/iStock via Getty Images Public Service Enterprise Group ( PEG ) down 1.3% in Wednesday's trading as Jefferies downgraded the utility to Hold from Buy with an $89 price target, citing lower confidence in a nuclear data center deal as New Jersey's ratepayer protection pledge reduces hyperscaler interest in contracting with existing assets without new generation. Jefferies analyst Paul Zimbardo said he had been hopeful that PSEG ( PEG ) would sign a virtual power purchase agreement and credit customers back some of the value, which is still a possibility but "we are not willing to ascribe material value" with a more intense focus on affordability; the company is helping pursue new nuclear at its site, but the analyst does not see this increasing the odds of securing an on-campus data center. Investors seem increasingly focused on PSEG's ( PEG ) transmission exposure with ~38% of FY 2025 rate base following the New England cut; Zimbardo said he sees the company's 9.9% base return on equity as safe but with vulnerability to legislation that would mandate RTO participation—"not "our base case, but this is an overhang on shares that is difficult to refute." PSEG's ( PEG ) strong story was derailed by high electric rates in 2025 and becoming the center of the election cycle with New Jersey Governor Sherrill focusing her attention on a utility rate freeze; "a solid utility story now needs to work within the confines of a less accommodating regime, leading to a slower pace of investments and increasing reliance on unregulated earnings growth," the analyst wrote. More on Public Service Enterprise Group Public Service Enterprise Group: How PSEG Is Becoming An AI Infrastructure Play Public Service Enterprise Group: The Upside Remains Uncompelling Public Service Enterprise Group Q4 2025 Earnings Call Presentation
juvaida khatun/iStock via Getty Images Market Returns (%) Q1 2026 1 Year Large Cap Stocks -4.3% 17.8% Value Stocks 2.1% 15.9% Growth Stocks -9.8% 18.8% Mid Cap Stocks 1.3% 16.0% Small Cap Stocks 0.9% 25.7% Developed International Stocks -1.2% 21.3% Emerging Market Stocks -0.2% 29.6% Intermediate Term Treasury Bonds 0.1% 4.0% Intermediate Term Corporate Bonds -0.2% 5.3% Click to enlarge Source: Mor...
juvaida khatun/iStock via Getty Images Market Returns (%) Q1 2026 1 Year Large Cap Stocks -4.3% 17.8% Value Stocks 2.1% 15.9% Growth Stocks -9.8% 18.8% Mid Cap Stocks 1.3% 16.0% Small Cap Stocks 0.9% 25.7% Developed International Stocks -1.2% 21.3% Emerging Market Stocks -0.2% 29.6% Intermediate Term Treasury Bonds 0.1% 4.0% Intermediate Term Corporate Bonds -0.2% 5.3% Click to enlarge Source: Morningstar Direct. Please see last page for index definitions. Given the dramatic swings in sentiment and market returns, it is likely that by the time you receive this letter, much of what we say here will have changed. Market sentiment has been shifting rapidly, driven largely by recent developments in Iran and fluctuations in oil prices. As a result, making meaningful near-term forecasts is difficult, and making dramatic shifts in your portfolios could result in missed opportunities. Despite some pretty scary headlines, the market has held up better than expected and could rebound quickly if the conflict is resolved. If tensions persist for months, however, markets could gradually drift toward correction territory. Given the uncertainty around both duration and outcome, we are trying to look past the immediate geopolitical backdrop and focus on the outlook longer term. The economy has remained relatively resilient, valuations for many high-quality companies have become more reasonable, and earnings growth is expected to be strong this year. Therefore, we believe that the stock market can persevere. The Davenport Asset Management FundAdvisor and ETFAdvisor programs offer globally diversified portfolios of stock and bond funds or ETFs to help our clients meet their long term objectives, and includes varying levels of risk exposure and return expectations. Some of the features of FundAdvisor and ETFAdvisor include diversification among multiple asset classes, cost-efficiency, annual rebalancing, tax efficiency, and ongoing monitoring of the mutual fund or ETF positions. At th...
LOGANSPORT, Indiana, April 15, 2026 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended March 31, 2026 of $542,000 or $0.88 per diluted share, compared to earnings in 2025 of $377,000 or $0.61 per diluted share. The Dividends paid to shareholders were $0.45 per share in the first quarter of 2026.
LOGANSPORT, Indiana, April 15, 2026 (GLOBE NEWSWIRE) -- Logansport Financial Corp., (OTCBB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended March 31, 2026 of $542,000 or $0.88 per diluted share, compared to earnings in 2025 of $377,000 or $0.61 per diluted share. The Dividends paid to shareholders were $0.45 per share in the first quarter of 2026.
White House Office of Management and Budget Director Russell Vought testifies before the House Budget Committee at the U.S. Capitol on April 15, 2026 in Washington, DC. Andrew Harnik | Getty Images White House Office of Management and Budget Director Russell Vought told lawmakers he could not estimate the total cost of the Iran war and that the Trump administration hadn't yet come up with a supple...
White House Office of Management and Budget Director Russell Vought testifies before the House Budget Committee at the U.S. Capitol on April 15, 2026 in Washington, DC. Andrew Harnik | Getty Images White House Office of Management and Budget Director Russell Vought told lawmakers he could not estimate the total cost of the Iran war and that the Trump administration hadn't yet come up with a supplemental funding request to send to Congress. "We're not ready to come to you with a request; we're still working on it. We're working through to figure out what's needed in this fiscal year versus next fiscal year," Vought told members of the House Budget Committee on Wednesday. "Do you have a ballpark? Will it be more than $50 billion?" Rep. Veronica Escobar, D-Texas, asked. "I don't have a ballpark for you, congresswoman," Vought said. Professor Linda Bilmes, a public policy professor at Harvard University's Kennedy School, published an analysis this month that found the war could cost taxpayers $1 trillion . Read more CNBC politics coverage Kalshi, Polymarket lobby as insider trading, betting eyed by Congress Fed nominee Warsh filings detail vast wealth, far exceeding past chairs House Republican campaign arm touts tax cuts in new 2026 election ad Vance says ‘the ball is in Iran’s court’ to move peace talks further, as U.S. blockade takes effect Vought was testifying on President Donald Trump 's fiscal 2027 budget request , which calls for $1.5 trillion in defense spending — a 44% increase — and a 10% cut to nondefense spending. More than a month into the war, its total cost is still unclear, though the Trump administration is likely to request additional funds from Congress for the ongoing conflict. The Washington Post reported last week that the White House could seek between $80 billion and $100 billion, down significantly from the $200 billion the Pentagon initially proposed to the White House in March. Defense Secretary Pete Hegseth at the time said "It takes money t...
AI agents can connect together, but they cannot think together. That’s a huge difference and a bottleneck for next-gen systems, says Outshift by Cisco’s SVP and GM Vijoy Pandey. As he describes the current state of AI: Agents can be stitched together in a workflow or plug into a supervisor model — but there's no semantic alignment, no shared context. They’re essentially working from scratch each g...
AI agents can connect together, but they cannot think together. That’s a huge difference and a bottleneck for next-gen systems, says Outshift by Cisco’s SVP and GM Vijoy Pandey. As he describes the current state of AI: Agents can be stitched together in a workflow or plug into a supervisor model — but there's no semantic alignment, no shared context. They’re essentially working from scratch each go-around. This calls for next-level infrastructure, or what Pandey describes as the "internet of cognition." “Agents are not able to think together because connection is not cognition,” he said. “We need to get to a point where you are sharing cognition. That is the greater unlock.” Creating new protocols to support next-gen agent communication So what is shared cognition? It’s when AI agents or entities can meaningfully work together to solve for something net new that they weren’t trained for, and do it “100% without human intervention,” Pandey said on the latest episode of Beyond the Pilot . The Cisco exec analogizes it to human intelligence. Humans evolved over hundreds of thousands of years, first becoming intelligent individually, then communicating on a basic level (with gestures or drawings). That communication improved over time, eventually unlocking a ‘cognitive revolution’ and collective intelligence that allowed for shared intent and the ability to coordinate, negotiate, and ground and discover information. “Shared intent, shared context, collective innovation: That's the exact trajectory that's playing out in silicon today,” Pandey said. His team sees it as a “horizontal distributed assistance problem.” They are pursuing “distributed super intelligence” by codifying intent, context, and collective innovation as a set of rules, APIs, and capabilities within the infrastructure itself. Their approach is a set of new protocols: Semantic State Transfer Protocol (SSTP); Latent Space Transfer Protocol (LSTP); and Compressed State Transfer Protocol (CSTP). SSTP operate...
When tech CEOs like Sam Altman and Dario Amodei acknowledge the risks of AI, they’re selling you a product, Bloomberg Opinion columnist Parmy Olson says. (Source: Bloomberg)
When tech CEOs like Sam Altman and Dario Amodei acknowledge the risks of AI, they’re selling you a product, Bloomberg Opinion columnist Parmy Olson says. (Source: Bloomberg)
Defendants used sledgehammers and crowbars to destroy drones at Israeli-linked arms factory, says prosecution Six Palestine Action activists entered an Israeli-linked arms factory intending to smash up as much property as possible before police arrived, a court has heard. Prosecutor Deanna Heer KC said the defendants used sledgehammers and crowbars to destroy drones manufactured by Elbit Systems a...
Defendants used sledgehammers and crowbars to destroy drones at Israeli-linked arms factory, says prosecution Six Palestine Action activists entered an Israeli-linked arms factory intending to smash up as much property as possible before police arrived, a court has heard. Prosecutor Deanna Heer KC said the defendants used sledgehammers and crowbars to destroy drones manufactured by Elbit Systems and computers at its factory in Filton, near Bristol, on 6 August last year. Continue reading...
Eluned Morgan says US under Donald Trump is ‘not partner it once was’ with Iran threats and ‘contempt’ towards UK Wales’s first minister has called on Keir Starmer to suspend a big joint defence project with the US, saying that under Donald Trump the country is “not the partner it once was”. In a statement on Wednesday, Labour’s Eluned Morgan cited the US president’s “contempt” towards the UK and ...
Eluned Morgan says US under Donald Trump is ‘not partner it once was’ with Iran threats and ‘contempt’ towards UK Wales’s first minister has called on Keir Starmer to suspend a big joint defence project with the US, saying that under Donald Trump the country is “not the partner it once was”. In a statement on Wednesday, Labour’s Eluned Morgan cited the US president’s “contempt” towards the UK and his threat to “annihilate” Iran as reasons to halt the development of the Deep Space Advanced Radar Capability (Darc) programme in Pembrokeshire, part of the Aukus defence partnership between the UK, US and Australia. Continue reading...