Turnabout, it seems, is fair play -- especially for tech stocks. For the past few months, one of the biggest stories in artificial intelligence has been the dramatic turnaround in Intel (NASDAQ: INTC) stock as the AI economy began shifting from questions of "how do we train up large language models (LLMs) quickly?" (i.e., AI training) to "how do we get LLMs to answer questions quickly?" (i.e., AI ...
Turnabout, it seems, is fair play -- especially for tech stocks. For the past few months, one of the biggest stories in artificial intelligence has been the dramatic turnaround in Intel (NASDAQ: INTC) stock as the AI economy began shifting from questions of "how do we train up large language models (LLMs) quickly?" (i.e., AI training) to "how do we get LLMs to answer questions quickly?" (i.e., AI inference). The answer to the first question generally involved paying exorbitant prices for Nvidia (NASDAQ: NVDA) GPUs, while the latter increasingly centered on switching to CPUs -- which Intel just happened to be pretty good at building. For a time, this shifted the momentum away from Nvidia stock -- up 18.4% year to date -- and toward Intel stock, which is up 192 % so far this year! Continue reading
NiseriN/iStock via Getty Images Kazakhstan has restored oil production to nearly normal rates at the Tengiz oilfield—the country's largest—after an unspecified accident last week, the Chevron-led ( CVX ) Tengizchevroil venture said Monday. Oil production at Tengiz has recovered to ~900K bbl/day on May 31 from 310K bbl/day on May 28, an industry source told Reuters. Chevron ( CVX ) is operator and...
NiseriN/iStock via Getty Images Kazakhstan has restored oil production to nearly normal rates at the Tengiz oilfield—the country's largest—after an unspecified accident last week, the Chevron-led ( CVX ) Tengizchevroil venture said Monday. Oil production at Tengiz has recovered to ~900K bbl/day on May 31 from 310K bbl/day on May 28, an industry source told Reuters. Chevron ( CVX ) is operator and the largest shareholder in the Tengizchevroil consortium with a 50% stake, followed by Exxon Mobil ( XOM ) with 25%, Kazakhstan's state-run KazMunayGaz with 20%, and Russia's Lukoil at 5%. At the same time, Kazakhstan’s second-largest oil field reportedly is delaying routine maintenance until 2027 after the Iran war caused crude prices to surge. The Kashagan field, in the shallow waters of the Caspian Sea, is expected to continue producing ~400K bbl/day of oil. Shareholders in the Kashagan consortium are Eni ( E ), Shell ( SHEL ), TotalEnergies ( TTE ), Exxon Mobil ( XOM ), China National Petroleum Corp., Japan’s Inpex, and KazMunayGaz. Kazakhstan produces ~2% of the world's daily supply of crude oil and is a key crude supplier to Europe, where refineries have sought to replace flows from the Persian Gulf since the Iran war has nearly halted shipping through the Strait of Hormuz. More on Chevron Chevron Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript Chevron: Attractive Total Return Potential Over 3- To 5-Year Horizon Chevron Can See Significant Upside From Spot And Oil-Linked LNG Sales
'Los Gatos Party Mom' Sentenced To 35 Years For Throwing Drunken Teen Parties Authored by Dylan Morgan via The Epoch Times, A Los Gatos, California, woman was sentenced on May 28 to 35 years and 10 months in prison, the maximum allowed, for hosting parties for young teenagers where she brought alcohol and egged on sex acts. Shannon O’Connor, 52, threw these parties for two years and discouraged te...
'Los Gatos Party Mom' Sentenced To 35 Years For Throwing Drunken Teen Parties Authored by Dylan Morgan via The Epoch Times, A Los Gatos, California, woman was sentenced on May 28 to 35 years and 10 months in prison, the maximum allowed, for hosting parties for young teenagers where she brought alcohol and egged on sex acts. Shannon O’Connor, 52, threw these parties for two years and discouraged teens, who were mostly 14 and 15 years old , from telling their parents or police about the parties or calling for help when one of the victims passed out in their own vomit. “Many people call this defendant the ‘Los Gatos Party Mom.’ This isn’t some fun parent giving sips of wine spritzers to kids. She facilitated dangerous and drunken sex acts with these children. She risked their lives and damaged their psyches. She is not a party mom. Shannon O’Connor is a convicted felon. Shannon O’Connor is a registered sex offender,” Santa Clara County District Attorney Jeff Rosen said. O’Connor, also known as Shannon Burga, was convicted of 48 charges, including child abuse charges and two felony sex charges, in March. Twenty young adults and 41 witnesses testified during the trial. Thursday’s sentencing followed two days of testimony from the victims on O’Connor’s teen parties she hosted for two years, including one young woman who told the court she became suicidal from trauma induced by the parties. At one party, O’Connor handed an underage teenager a condom and pushed him into a room with an intoxicated minor. At a separate New Year’s Eve party with about five 14-year-olds, O’Connor watched and laughed as a drunk teen sexually battered a young girl in bed. In another incident, O’Connor brought a drunk teen into a bedroom where an intoxicated 14-year-old girl was lying in bed, according to prosecutors. After the girl was assaulted, she said to O’Connor, “Why did you leave me in there with him? Like you knew, like what he was going to do to me.” In another case, O’Connor let a minor...
photo_Pawel/iStock via Getty Images uniQure Overview I last covered uniQure N.V. ( QURE ) in March. The stock collapsed following the news that the FDA wanted to see a more robust trial for Huntington's gene therapy, AMT-130. This caught a number of biotech investors by surprise, as the company was on record as having an agreement with regulatory authorities. At a fundamental level, this developme...
photo_Pawel/iStock via Getty Images uniQure Overview I last covered uniQure N.V. ( QURE ) in March. The stock collapsed following the news that the FDA wanted to see a more robust trial for Huntington's gene therapy, AMT-130. This caught a number of biotech investors by surprise, as the company was on record as having an agreement with regulatory authorities. At a fundamental level, this development did a number of things to AMT-130’s risk-adjusted net present value, or rNPV. It decreased the probability of success and delayed AMT-130’s market arrival. Compared to a DCF model I conducted last October, AMT-130’s rNPV dropped over 70%. I downgraded QURE stock to Hold in March, citing execution risk and the lack of near-term catalysts. Still, I am bullish on AMT-130 long-term, which was the reason for a Hold rating rather than a Sell. And based on my sum-of-the-parts analysis, I thought QURE appeared reasonably valued based on the assumptions at that time. Last Friday, uniQure stock popped almost 15% after another biotech, Replimune ( REPL ), signaled that the FDA leadership is willing to re-engage constructively on a prior negative regulatory decision. Like uniQure, Replimune was a victim of apparent miscommunication between sponsors and the FDA ahead of a regulatory submission or decision. So, it looks like the market is hoping that uniQure will give AMT-130 BLA another shot. Of course, all of this follows the departure of former FDA Commissioner Marty Makary. However, just last month, it was very clear that the FDA was insistent that AMT-130 would need a highly challenging randomized sham surgery-controlled Phase 3 trial before approval. The company is trying to establish a regulatory precedent by seeking approval in the United Kingdom. In the article that follows, I'm not going to try to predict what's going to happen because it's very obvious that no one knows what's going to happen, but I am going to go through three scenarios that might play out over the next fe...
Pfizer (NYSE:PFE) has entered a global oncology partnership with Innovent Biologics worth up to $10.5b, focused on up to 12 early stage cancer programs, including antibody drug conjugates and multi specific antibodies. The company also reported seven year follow up results from the Phase 3 CROWN trial, indicating sustained protection from LORBRENA against disease progression and brain metastases i...
Pfizer (NYSE:PFE) has entered a global oncology partnership with Innovent Biologics worth up to $10.5b, focused on up to 12 early stage cancer programs, including antibody drug conjugates and multi specific antibodies. The company also reported seven year follow up results from the Phase 3 CROWN trial, indicating sustained protection from LORBRENA against disease progression and brain metastases in ALK positive advanced lung cancer. Pfizer is currently trading at $26.18, with the stock up...
The U.S. spot Bitcoin ETF complex now controls more Bitcoin than any single private entity on the planet, including the dormant wallets attributed to Satoshi Nakamoto. Three funds drive that dominance: BlackRock’s iShares Bitcoin Trust ETF (NASDAQ:IBIT), the Fidelity Wise Origin Bitcoin Fund (CBOE:FBTC), and the ARK 21Shares Bitcoin ETF (CBOE:ARKB). Combined, they hold roughly ... Bitcoin Spot ETF...
The U.S. spot Bitcoin ETF complex now controls more Bitcoin than any single private entity on the planet, including the dormant wallets attributed to Satoshi Nakamoto. Three funds drive that dominance: BlackRock’s iShares Bitcoin Trust ETF (NASDAQ:IBIT), the Fidelity Wise Origin Bitcoin Fund (CBOE:FBTC), and the ARK 21Shares Bitcoin ETF (CBOE:ARKB). Combined, they hold roughly ... Bitcoin Spot ETFs Have Fundamentally Shifted: These 3 Now Hold Over 1.5 Million BTC Combined
A screen of U.S. consumer staples small-cap stocks identifies B&G Foods ( BGS ), Flowers Foods ( FLO ), and Nomad Foods ( NOMD ) among the market's most attractively valued companies based on their valuation grades. The valuation grade measures how expensive or inexpensive a stock is relative to others in its sector. It incorporates several metrics, including P/E, PEG, price-to-sales, and price-to...
A screen of U.S. consumer staples small-cap stocks identifies B&G Foods ( BGS ), Flowers Foods ( FLO ), and Nomad Foods ( NOMD ) among the market's most attractively valued companies based on their valuation grades. The valuation grade measures how expensive or inexpensive a stock is relative to others in its sector. It incorporates several metrics, including P/E, PEG, price-to-sales, and price-to-cash-flow ratios, using both current and forward-looking estimates. The overall grade is calculated from these underlying metrics and indicates how attractively a stock is valued compared with its sector peers. Most cheap U.S. stock by valuation grade (market cap between $300M and $2B): B&G Foods ( BGS ) A+ Flowers Foods ( FLO ) A+ Nomad Foods ( NOMD ) A+ Coty ( COTY ) A Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria ( CRESY ) A Energizer Holdings ( ENR ) A Edgewell Personal Care ( EPC ) A Grocery Outlet Holding ( GO ) A Herbalife ( HLF ) A USANA Health Sciences ( USNA ) A More on Consumer Staples B&G Foods: A Painful But Necessary Dividend Cut Unlocks Major Value Flowers Foods: Despite The Dividend Cut, The Firm Still Seems Attractively Valued Flowers Foods Is Just Too Tasty To Ignore Highest and lowest quant-rated small-cap consumer staple stocks after earnings Flowers Foods targets leverage below 3x by end of fiscal '27 as Nature's Own relaunch ramps
A private credit fund jointly managed by Future Standard and KKR & Co. is looking to sell at least $400 million of junk bonds, according to people familiar with the matter, in a rare high-yield offering by a publicly traded credit fund. The FS KKR Capital Corp. notes may yield in the mid- to high- 7% range based on initial pricing discussions, one of the people said, asking not to be identified be...
A private credit fund jointly managed by Future Standard and KKR & Co. is looking to sell at least $400 million of junk bonds, according to people familiar with the matter, in a rare high-yield offering by a publicly traded credit fund. The FS KKR Capital Corp. notes may yield in the mid- to high- 7% range based on initial pricing discussions, one of the people said, asking not to be identified because discussions are private. Proceeds from the bonds may be used to refinance debt, the person added. FS KKR, a type of private credit fund known as a business development company, has suffered after writing down struggling loans it made. It cut its dividend twice in the last year. In March, Moody’s Ratings cut the BDC to junk, and in April, Fitch followed suit . In May, KKR said it was injecting $300 million into the business development company, buying preferred equity and tendering for $150 million of the firm’s shares. The bond sale is being run by Bank of America Corp. , Bank of Montreal , JPMorgan Chase & Co. , KKR Capital Markets LLC, Royal Bank of Canada and SMBC Nikko Securities Inc . KKR and the banks either declined or didn’t respond to requests for comment.