Live cattle futures are up $1.95 to $2.80 in most contracts on Tuesday. Last week’s cash trade was at $246-249 in the South, with some northern action near $249-250. Monday had some cleanup trade at $248 in KS. Feeder cattle futures are $1.45 to $2.40 higher in the front months....
Live cattle futures are up $1.95 to $2.80 in most contracts on Tuesday. Last week’s cash trade was at $246-249 in the South, with some northern action near $249-250. Monday had some cleanup trade at $248 in KS. Feeder cattle futures are $1.45 to $2.40 higher in the front months....
Soybeans are trading with 4 to 7 cent losses at midday. The cmdtyView national average Cash Bean price is down 4 1/2 cents at $10.91. Soymeal futures are $1.60 to $2 lower on the day, with Soy Oil futures down 25 to 35 points. Crop Progress from Monday afternoon pegged...
Soybeans are trading with 4 to 7 cent losses at midday. The cmdtyView national average Cash Bean price is down 4 1/2 cents at $10.91. Soymeal futures are $1.60 to $2 lower on the day, with Soy Oil futures down 25 to 35 points. Crop Progress from Monday afternoon pegged...
onurdongel/iStock via Getty Images Returns Are Starting To Compound The first time I covered Energy Transfer LP ( ET ) was back in late November 2025 , and the returns have been strong. Since then, the units have returned a total of 17.96%, compared to the S&P 500's ( SP500 ) return of just 1.36%. Of course, a measure of this short of a time span isn’t really fair all the time. But I think ET will...
onurdongel/iStock via Getty Images Returns Are Starting To Compound The first time I covered Energy Transfer LP ( ET ) was back in late November 2025 , and the returns have been strong. Since then, the units have returned a total of 17.96%, compared to the S&P 500's ( SP500 ) return of just 1.36%. Of course, a measure of this short of a time span isn’t really fair all the time. But I think ET will be able to continue to outperform over the long term due to the structural tailwinds I pointed out back then now starting to materialize. Data center energy demand is set to grow about 15% per year until 2030. This will have a knock-on effect for gas production in North America I pointed out how energy demand will grow at an accelerated pace in the US because of data centers. The deal with Cloudburst is just one of many I think will come in the short-term for ET. Since November 2025, ET has also started to deliver gas to one of the mega projects that Oracle ( ORCL ) is doing right now in Texas. Coverage History (Seeking Alpha) Because of the rise in the unit price, the yield has fallen somewhat. When my first article came out, the yield was sitting at 7.97% TTM and has since come down to now 6.98% on an FWD basis. But most estimates suggest that ET will raise the distributions per unit from $1.37 to $1.48 by 2028, showing an 8% growth rate. Trends are positive, and the thesis is still very much in play. I’m reiterating my Strong Buy for the stock. Commanding Premium Pricing In A Demanding Market Energy Transfer Footprint (ET Presentation) Most who are familiar with ET already know about the wide footprint that it has , but also that it’s one of the more integrated midstream companies in the Permian region. Just to also cover what the company is and does, there are 4 main parts that make up ET. Interstate and Intrastate gas transportation. Then you have midstream operations like gathering and processing. On top of this, ET also works with NGL and refined products and crude ...
Dan Totilca Goldman Sachs ( GS ) has reportedly entered the Bitcoin ( BTC-USD ) ETF space with a filing for a new structured product called the "Goldman Sachs Bitcoin Premium Income ETF," according to a recent X post by Bloomberg ETF analyst Eric Balchunas and regulatory SEC filings shared on Tuesday. Eric Balchunas recently reacted, saying , "Can't say I saw this coming," adding that he earlier e...
Dan Totilca Goldman Sachs ( GS ) has reportedly entered the Bitcoin ( BTC-USD ) ETF space with a filing for a new structured product called the "Goldman Sachs Bitcoin Premium Income ETF," according to a recent X post by Bloomberg ETF analyst Eric Balchunas and regulatory SEC filings shared on Tuesday. Eric Balchunas recently reacted, saying , "Can't say I saw this coming," adding that he earlier expected banks like JPMorgan Chase ( JPM ) and Goldman Sachs ( GS ) to stay out of crypto and focus on other financial products instead. The idea of this ETF is simple: it gives investors exposure to Bitcoin ( BTC-USD ) without actually holding the asset directly. Instead of directly buying, the fund will invest in Bitcoin-linked products like exchange-traded products (ETPs), options on those products, and indexes that track them. To manage regulatory rules, it may also use a Cayman Islands subsidiary. According to the filing, at least 80% of the fund’s net assets will be invested in investments that provide Bitcoin ( BTC-USD ) exposure. This includes spot Bitcoin ETPs, Bitcoin ETP options, and index-linked options tied to Bitcoin ETPs. Importantly, neither the main fund nor its Cayman Islands subsidiary will directly invest in the asset. However, the Cayman Islands subsidiary may still invest in spot Bitcoin ETPs, along with cash equivalents like U.S. Treasuries, volatility derivatives, and foreign currency forwards. The core strategy is an options “overwrite” model, where the fund is expected to sell call options covering roughly 40% to 100% of its Bitcoin-linked exposure. This structure allows the fund to earn option premiums in exchange for limiting upside in strong Bitcoin ( BTC-USD ) rallies. Reportedly, the fund is also designed to provide monthly payouts to investors. However, some of these payouts may be treated as “return of capital” for tax purposes. The filing also lists some major risks, such as BTC's high price volatility, regulatory uncertainty, possible secur...
Cuts will fall on its studio and television business, ESPN, certain corporate functions and more, a source says Walt Disney ’s new chief executive, Josh D’Amaro, announced layoffs in an email to employees on Tuesday, as he looks to streamline the company’s operations. About 1,000 positions will be eliminated, according to a person familiar with the development. Continue reading...
Cuts will fall on its studio and television business, ESPN, certain corporate functions and more, a source says Walt Disney ’s new chief executive, Josh D’Amaro, announced layoffs in an email to employees on Tuesday, as he looks to streamline the company’s operations. About 1,000 positions will be eliminated, according to a person familiar with the development. Continue reading...
STORY: :: File :: SpaceX Amazon on Tuesday said it would acquire satellite company Globalstar for about 11.5 billion dollars, as the online behemoth looks to compete with Elon Musk's rival satellite firm Starlink. The announcement sent shares of both companies skyward, with Amazon gaining 3.5 percent and Globalstar soaring 11%. :: File Amazon has been working to ramp up its satellite network by de...
STORY: :: File :: SpaceX Amazon on Tuesday said it would acquire satellite company Globalstar for about 11.5 billion dollars, as the online behemoth looks to compete with Elon Musk's rival satellite firm Starlink. The announcement sent shares of both companies skyward, with Amazon gaining 3.5 percent and Globalstar soaring 11%. :: File Amazon has been working to ramp up its satellite network by deploying about 3,200 satellites in Earth's low orbit by 2029 - roughly half of which should be in place by July due to a regulatory deadline. The online giant is also preparing to roll out its satellite internet services later this year. :: SuperSharp Space Systems :: File Tech companies are pouring in billions of dollars to capture the lucrative market for satellite-based connectivity. :: SpaceX But it will be a tall order to match Starlink's 10,000-unit-strong network. Through the deal, Amazon adds Globalstar's two dozen satellites to its existing network of more than 200. Globalstar's satellite network is designed for reliable, low-data connections directly to mobile devices, or what is otherwise known as Direct-to-Device, or D2D. :: NOAA The technology removes the need for devices to connect to ground-based cell towers, making them crucial in powering emergency services and delivering connectivity in areas with limited cellular coverage. The companies said the deal will help Amazon deploy D2D beginning in 2028. :: SpaceX Meanwhile, Starlink already serves more than 9 million users globally. The SpaceX unit, which provides high-speed broadband through user terminals, is also developing D2D services through partnerships with telecom operators such as T-Mobile. Amazon's move comes closely on the heels of SpaceX moving forward with its plan for a stock market listing. Starlink contributes roughly 50% to 80% of revenue generated by SpaceX.
EFL in race against time to hear charges Club alleged to have breached P&S rules West Brom could be given a points deduction that relegates them from the Championship after the season has finished as the club contest charges of breaching the English Football League’s profit and sustainability (P&S) rules. With the Championship league season concluding on 2 May the EFL is running out of time to hea...
EFL in race against time to hear charges Club alleged to have breached P&S rules West Brom could be given a points deduction that relegates them from the Championship after the season has finished as the club contest charges of breaching the English Football League’s profit and sustainability (P&S) rules. With the Championship league season concluding on 2 May the EFL is running out of time to hear the charges against West Brom, which relate to an alleged breach of the £39m loss limit in the three-year period culminating in the 2024-25 season. EFL sanctioning guidelines state that any punishment for a P&S breach must be applied in the campaign after it took place, which in West Brom’s case means this season, but the rulebook does not give a definitive cutoff point so it is unclear when the season ends. Continue reading...
Guido Mieth/DigitalVision via Getty Images First Quarter 2026 The Fund (Investor Class) outperformed the benchmark, the S&P 500 Index, for the quarter and since inception. At the sector level, the largest contributors to performance were energy and materials, while financials and information technology were the largest detractors. Amid heightened volatility, geopolitical headlines, and extreme sto...
Guido Mieth/DigitalVision via Getty Images First Quarter 2026 The Fund (Investor Class) outperformed the benchmark, the S&P 500 Index, for the quarter and since inception. At the sector level, the largest contributors to performance were energy and materials, while financials and information technology were the largest detractors. Amid heightened volatility, geopolitical headlines, and extreme stock dispersion, we believe equity markets are increasingly driven by short-term noise and crowd behavior rather than underlying business value. Accordingly, portfolios are positioned with patience and discipline, emphasizing companies trading at meaningful discounts to our estimate of intrinsic value, where long-term fundamentals—not headlines—drive expected returns. Top Contributor | Detractor Highlights Top contributors ConocoPhillips Targa Resources ( TRGP ) Phillips 66 ( PSX ) Top detractors Salesforce Capital One Financial ( COF ) IQVIA Holdings ( IQV ) New purchases Accenture CI A ( ACN ) Adobe ( ADBE ) Marsh & McLennan ( MRSH ) Netflix ( NFLX ) Raymond James Financial ( RJF ) Roper Technologies ( ROP ) Synchrony Financial ( SYF ) Sysco ( SYY ) Final sales APA ( APA ) Baxter ( BAX ) Celanese ( CE ) Deere ( DE ) Top contributor ConocoPhillips ( COP ) was the top contributor during the quarter. The U.S.-headquartered oil and gas company's stock price rose as it benefitted from a favorable macroeconomic backdrop and results consistent with our expectations. Rising energy prices due to geopolitical conflict were the most significant driver of the stock performance. We continue to believe Conoco has some of the industry's highest quality assets managed by a team of strong operators and capital allocators. Top detractor Salesforce ( CRM ) was the top detractor during the quarter. The U.S.-headquartered software company's stock price declined as it contended with market fears over AI disruption. Quarterly results have remained strong and margins continue to improve. Managemen...
Earnings Call Insights: JPMorgan Chase & Co. (JPM) Q1 2026 Management view "This quarter, the firm reported net income of $16.5 billion and EPS of $5.94, with an ROTCE of 23%." (Executive VP & CFO Jeremy Barnum) "Revenue of $50.5 billion was up 10% year-on-year" and "Expenses of $26.9 billion were up 14% year-on-year" while "credit costs" were "$2.5 billion with net charge-offs of $2.3 billion." (...
Earnings Call Insights: JPMorgan Chase & Co. (JPM) Q1 2026 Management view "This quarter, the firm reported net income of $16.5 billion and EPS of $5.94, with an ROTCE of 23%." (Executive VP & CFO Jeremy Barnum) "Revenue of $50.5 billion was up 10% year-on-year" and "Expenses of $26.9 billion were up 14% year-on-year" while "credit costs" were "$2.5 billion with net charge-offs of $2.3 billion." (Executive VP & CFO Barnum) "We ended the quarter with a standardized CET1 ratio of 14.3%, down 30 basis points versus the prior quarter" and "standardized RWA is up $60 billion, primarily driven by the Markets business." (Executive VP & CFO Barnum) "Under the proposed rules, our CET1 capital would increase around 4%" and "we need to plan for 5.2% in 2028"; Barnum also said the combined Basel III endgame and G-SIB effects imply "a total increase of about $20 billion of G-SIB capital based on our current balance sheet." (Executive VP & CFO Barnum) "Consumers and small businesses remain resilient with consumer spend growth continuing above last year's pace" and "in Home Lending, originations of $13.7 billion increased 46% year-on-year." (Executive VP & CFO Barnum) "IB fees were up 28% year-on-year" and Barnum cautioned that "developments in the Middle East could have an impact on deal execution and timing." (Executive VP & CFO Barnum) Outlook "We continue to expect NII ex Markets to be about $95 billion" and "we now expect total NII to be approximately $103 billion" as "market NII" is expected to decrease "to about $8 billion." (Executive VP & CFO Barnum) "The adjusted expense outlook continues to be about $105 billion" and "the Card net charge-off rate continues to be approximately 3.4%." (Executive VP & CFO Barnum) On why NII ex-Markets was unchanged despite rate shifts, Barnum said, "the amount of upward revision that you might have otherwise expected is really quite small" and "there were some other bits of up and down noise, and some rounding effects." (Executive VP & CFO...
NVIDIA (NASDAQ:NVDA) shares are up 3% today, rising from $189.31 to $195 as of midday Tuesday. The move adds to a strong run, with NVDA stock up 76% over the past year. That’s a remarkable climb for a stock that’s now sitting on a market cap of roughly $4.73 trillion. Today’s session brings a mix ... NVIDIA Rises Even as Quantum Computing Threat Looms and Insider Selling Sparks Debate
NVIDIA (NASDAQ:NVDA) shares are up 3% today, rising from $189.31 to $195 as of midday Tuesday. The move adds to a strong run, with NVDA stock up 76% over the past year. That’s a remarkable climb for a stock that’s now sitting on a market cap of roughly $4.73 trillion. Today’s session brings a mix ... NVIDIA Rises Even as Quantum Computing Threat Looms and Insider Selling Sparks Debate
(RTTNews) - Toho Co., Ltd. (TOH.F) on Tuesday, reported profit attributable to owners of the parent of 51.8 billion yen for fiscal 2026, compared with 43.4 billion yen in fiscal 2025, supported by higher revenue and improved operating performance.
(RTTNews) - Toho Co., Ltd. (TOH.F) on Tuesday, reported profit attributable to owners of the parent of 51.8 billion yen for fiscal 2026, compared with 43.4 billion yen in fiscal 2025, supported by higher revenue and improved operating performance.