IltonRogerio/iStock Editorial via Getty Images Investment Thesis I reiterate my buy recommendation on Sabesp shares ( SBS ). This article is part of my initial coverage thesis , and my last article about the company was published on August 15, 2025. My intention with this article is to analyze the feasibility of Sabesp's participation in the privatization of Copasa, and how this would make Sabesp'...
IltonRogerio/iStock Editorial via Getty Images Investment Thesis I reiterate my buy recommendation on Sabesp shares ( SBS ). This article is part of my initial coverage thesis , and my last article about the company was published on August 15, 2025. My intention with this article is to analyze the feasibility of Sabesp's participation in the privatization of Copasa, and how this would make Sabesp's investment thesis even more attractive. Sabesp SBS is the largest company in the sanitation sector in Brazil and one of the largest in the world. The company is responsible for supplying treated water in 375 municipalities in the Brazilian state of São Paulo, including the metropolitan region, serving more than 28 million people with water and almost 25 million with sewage collection. The company was controlled by the state government of SP from its foundation until July 2024, when it was privatized via share offering, becoming a corporation, without defined control. Revisiting the thesis I was skeptical about Sabesp's thesis in 2024; even the title of my first article was, Privatization Is Already Priced In . However, I observed the following results, and it was incredible how the executives showed the ability to cut costs and increase efficiency. On March 26, 2025, I raised the recommendation from hold to buy, and mentioned how the company was becoming more agile after privatization. Little has changed since then, but one event has the potential to be a major milestone in Sabesp's history: participation in the privatization of Copasa. Sabesp has interest in the asset, but before I show the numbers, let's take a brief overview of Copasa. The target Founded in the 1960s, Copasa defines and executes the basic sanitation policies of the State of Minas Gerais, providing water supply, sewage, and solid waste services. The company provides water services to more than 600 municipalities and sewage services in more than 300 municipalities. Copasa went public on the Brazilian sto...
The social media giant is preparing for what could be its biggest transformation yet. On Friday, Barclays (BCS) analyst Ross Sandler, rated 5-star on TipRanks, reiterated his Buy rating on Meta Platforms (META), setting a price target of $800. With the stock currently trading near $628, this new target suggests a 27.31% upside. The move comes as Wall Street prepares for Meta’s first-quarter earnin...
The social media giant is preparing for what could be its biggest transformation yet. On Friday, Barclays (BCS) analyst Ross Sandler, rated 5-star on TipRanks, reiterated his Buy rating on Meta Platforms (META), setting a price target of $800. With the stock currently trading near $628, this new target suggests a 27.31% upside. The move comes as Wall Street prepares for Meta’s first-quarter earnings report later this month, where the focus will be entirely on how much cash the company is squeezi
Palantir Technologies (PLTR) is currently one of the most powerful AI companies on Wall Street, owing to a strong surge of hope around AI, national security, and government software. That rise is making Palantir stock an attractive pick for investors who want to find the next big winner in AI and ...
Palantir Technologies (PLTR) is currently one of the most powerful AI companies on Wall Street, owing to a strong surge of hope around AI, national security, and government software. That rise is making Palantir stock an attractive pick for investors who want to find the next big winner in AI and ...
Bet_Noire/iStock via Getty Images I previously rated AST SpaceMobile (AST) as a Hold in April 2026, attributed to the premium valuations from the SpaceX IPO exuberance. SATS Suffers An Elon Musk Premium SATS 1Y Stock Price ( TradingView ) 1. SpaceX Exuberance Similar to ASTS, EchoStar ( SATS ) has also been a beneficiary of the ongoing space-related boom, buoyed by SpaceX's upcoming IPO valued at ...
Bet_Noire/iStock via Getty Images I previously rated AST SpaceMobile (AST) as a Hold in April 2026, attributed to the premium valuations from the SpaceX IPO exuberance. SATS Suffers An Elon Musk Premium SATS 1Y Stock Price ( TradingView ) 1. SpaceX Exuberance Similar to ASTS, EchoStar ( SATS ) has also been a beneficiary of the ongoing space-related boom, buoyed by SpaceX's upcoming IPO valued at $1.75T . These are important developments indeed, since SATS is a diversified connectivity company offering numerous services, including pay-TV, Wireless, and Broadband and Satellite Services, amongst others. Particularly, thanks to: the FCC resolution, the consequent 3.45 GHz/600 MHz spectrum licenses sale for $23B to AT&T , the AWS-4/H-block spectrum licenses sale for $19B to SpaceX ($8.5B cash, $8.5B in SpaceX stock, and $2B of cash interest payments), and the unpaired AWS-3 licenses are sold for $2.6B to SpaceX (in stock), it is apparent that SATS has executed an excellent renewal beyond the prior growth headwinds. For reference, pending the completion of the two deals, SATS currently reports an inflated net debt of $22.9B in FY2025 (-8.7% YoY) and a net debt to OIBDA ratio of 15.36x (a year ago at 13x) against its telecom services peer group averages of 2.62x . Once the deals go through, SATS may be able to rapidly deleverage their balance sheet, while gaining excellent exposure to SpaceX's upcoming IPO, thanks to the $8.5B of SpaceX stock value as of September 2025 and $2.6B as of November 2025. Based on the more than doubling in SpaceX's valuation from 2025 levels of $800B to the current pre-IPO levels of $1.75B, SATS may very well be holding on to a "gold mine" worth up to ~$39B, based on: the estimated ~2.8% stake in SpaceX, pre-merger with xAI, the post-merger transaction value of $1.25T, which values SpaceX at $1T and xAI at $250B (SpaceX at 80% and xAI at 20%), and the estimated SpaceX (xAI included) IPO valuation of $1.75T. This development perhaps explains why...
You can’t make the wrong choice based on hardware, but you can spend more than you need to. Nintendo seemingly designed its latest console to be a mystery for third-party accessory makers. With the Switch 2, the company changed the wireless protocol for connecting controllers to the new system, as well as how it outputs video over USB-C , making it clear at launch that every third-party manufactur...
You can’t make the wrong choice based on hardware, but you can spend more than you need to. Nintendo seemingly designed its latest console to be a mystery for third-party accessory makers. With the Switch 2, the company changed the wireless protocol for connecting controllers to the new system, as well as how it outputs video over USB-C , making it clear at launch that every third-party manufacturer needed to start over from scratch. Figuring out how to speak the Switch 2's language - and ensuring reliability even after system updates - is an ongoing challenge. But now there are two reliable USB-C dock alternatives I can recommend, if you need one. Jsaux was one of the first to land with its $45.99 OmniCentro Dock last year, and no … Read the full story at The Verge.
The Vanguard Total Bond Market ETF (NASDAQ:BND) and Vanguard Intermediate-Term Treasury ETF (NASDAQ:VGIT) look similar on fees, but BND is far bigger, covers more of the bond market, and has delivered a modest edge in recent returns and yield, while VGIT sticks strictly to U.S. Treasuries and has seen less volatility. Both BND and VGIT are popular bond ETFs from Vanguard, each aiming to provide in...
The Vanguard Total Bond Market ETF (NASDAQ:BND) and Vanguard Intermediate-Term Treasury ETF (NASDAQ:VGIT) look similar on fees, but BND is far bigger, covers more of the bond market, and has delivered a modest edge in recent returns and yield, while VGIT sticks strictly to U.S. Treasuries and has seen less volatility. Both BND and VGIT are popular bond ETFs from Vanguard, each aiming to provide income and diversification for portfolios. BND casts a wider net across the investment-grade U.S. bond market, while VGIT focuses solely on intermediate-term U.S. Treasuries. This comparison unpacks their differences in cost, performance, risk, and portfolio makeup to help investors decide which approach may better suit their needs. 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. Continue reading
A temporary truce between Russia and Ukraine entered into force on Saturday, with Kyiv warning it would respond “immediately” if Russia violated it. Russian President Vladimir Putin ordered the ceasefire on Thursday to coincide with Orthodox Easter, more than a week after Ukrainian President Volodymyr Zelensky first made the proposal. Both sides have agreed to observe it. The ceasefire is due to l...
A temporary truce between Russia and Ukraine entered into force on Saturday, with Kyiv warning it would respond “immediately” if Russia violated it. Russian President Vladimir Putin ordered the ceasefire on Thursday to coincide with Orthodox Easter, more than a week after Ukrainian President Volodymyr Zelensky first made the proposal. Both sides have agreed to observe it. The ceasefire is due to last for 32 hours, from 4.00pm on Saturday until the end of the day on Sunday, according to the...
Hispanolistic/E+ via Getty Images Investment Thesis Teladoc Health ( TDOC ) is attempting to move away from an acquisition-based business model that has been cyclical and focused on marketing, toward a more stable and sustainable B2B model that utilizes data. Due to its customer acquisition-based model for the BetterHelp segment, the previous strategy was costly and created numerous problems that ...
Hispanolistic/E+ via Getty Images Investment Thesis Teladoc Health ( TDOC ) is attempting to move away from an acquisition-based business model that has been cyclical and focused on marketing, toward a more stable and sustainable B2B model that utilizes data. Due to its customer acquisition-based model for the BetterHelp segment, the previous strategy was costly and created numerous problems that led to low lifetime customer value and a lack of profitability. Teladoc is currently changing how it operates by securing increased reimbursement from insurance companies, allowing it to convert temporary customers into permanent, high-value revenue streams. Teladoc's integrated care segment now utilizes an AI-based Pulse platform that identifies potential risks associated with high-risk patients before they experience costly and serious adverse events. Another key component of this transition is the movement from reactive telemedicine to predictive care. By providing employers and health plans with tangible ROI, Teladoc will have the ability to charge premium prices and secure longer-term contract agreements. In addition, Teladoc has large longitudinal patient datasets which were obtained through the acquisition of Livongo and the development of its own device-driven database. This creates barriers to entry for competitors that are attempting to develop similar data advantages within the next several years. From a financial perspective, Teladoc continues to improve stability and operations. FCF was $167 million in 2025, which is a big turnaround from negative FCF just a few years ago. In addition, the company has taken steps to strengthen its balance sheet, including paying down outstanding convertible debt, which has resulted in ~$781 million in cash and little near-term debt. Overall, Teladoc is in a much better position, where it can now fund operations and its transition internally. Margins have also seen improvement through a more favorable BetterHelp revenue mix and ...
MP Leonti/iStock via Getty Images There's no sugarcoating this. The 0.9 percentage point jump in CPI inflation from the previous month, to 3.3% YoY in March, is disappointing. The fact that it was expected doesn't make it less hard to digest. Here I argue, though, that the latest spike is no reason to press the panic button, at least not yet. On the contrary, there are not one or two, but five who...
MP Leonti/iStock via Getty Images There's no sugarcoating this. The 0.9 percentage point jump in CPI inflation from the previous month, to 3.3% YoY in March, is disappointing. The fact that it was expected doesn't make it less hard to digest. Here I argue, though, that the latest spike is no reason to press the panic button, at least not yet. On the contrary, there are not one or two, but five whole reasons to hold it together. They are as below: #1. Inflation, big picture, is still fine The first increase in CPI inflation after four months has brought the latest number to the highest figure in almost two years (see chart below). But the overall inflation picture YTD still looks very much in check. The average rate for Q1 2026 stands at 2.7%, which is exactly the targeted PCE inflation for 2026 by the Fed . Since the two figures tend to move in tandem, this suggests that so far, inflation is in check. It's also worth noting that the Q1 2026 figure is exactly at the same spot as it was in the corresponding quarter of 2025. The Fed was on a rate reduction journey at the time. Sure, at that time the reserve was confident that price rises could continue to decelerate, as opposed to the risk of further increases now. But if crude prices start coming off now (discussed next), this risk can subside. CPI Inflation, %, YoY (Source: Trading Economics) #2. Crude prices start subsiding The key culprit for the latest inflation increase is, of course, crude oil prices, which rose by 72% from the start of the US-Iran war to the first week of April. In line, the energy commodities' segment of the CPI index, which comprises gasoline and fuel oil, saw a massive jump in inflation of 21.3% MoM in March. It essentially singlehandedly raised the overall inflation rate. But flip this piece around, and we have a positive development. Crude prices have fallen off from their USD 100/bbl levels recently, following the recent ceasefire between warring countries. If this drop sustains, the impa...
cagkansayin Replimune ( REPL ) has announced that it has no other option but to reduce its workforce and scale back U.S. manufacturing operations after the FDA on Friday declined to approve its lead asset, RP1, targeted at a skin cancer known as melanoma. Following a trading halt during the day, Replimune ( REPL ) crashed ~63% in the post-market after the company confirmed the FDA’s Complete Respo...
cagkansayin Replimune ( REPL ) has announced that it has no other option but to reduce its workforce and scale back U.S. manufacturing operations after the FDA on Friday declined to approve its lead asset, RP1, targeted at a skin cancer known as melanoma. Following a trading halt during the day, Replimune ( REPL ) crashed ~63% in the post-market after the company confirmed the FDA’s Complete Response Letter in connection with its Biologics License Application. The BLA targeted RP1’s use for patients with advanced melanoma as a second-line therapy with nivolumab, a cancer treatment marketed by Bristol Myers ( BMY ) as Opdivo. The Massachusetts-based biotech rebuked the decision, noting that it contradicted the FDA’s prior views regarding RP1 communicated during a Type A meeting last year following the treatment’s initial rejection by the regulator in July 2025. “It is deeply disappointing that the FDA has not exercised regulatory flexibility to meet patients’ needs given the data supporting strong efficacy and the favorable safety profile,” CEO Sushil Patel remarked. “A treatment desperately needed by patients will not be available. Not because the medicine failed. Because the system did,” he added. More on Replimune Group Replimune: Second CRL May Have Sealed RP1's Fate - It's Hard To See Positives Replimune: Multiple Shots On Goal But A High Risk Binary Approaches Replimune Group, Inc. (REPL) Presents at 44th Annual J.P. Morgan Healthcare Conference - Slideshow Replimune under pressure as FDA rejects lead asset again Biotech firm stocks rise on FDA vaccine head’s exit
NASA’s Boeing Co. rocket just propelled astronauts farther into space than ever before. The Trump administration is already looking to competitors for a replacement. About a week before the $24 billion Space Launch System pushed the four crew members of the Artemis II mission around the moon, NASA asked rivals what options they could offer for its ambitious plan of future lunar trips. That call, e...
NASA’s Boeing Co. rocket just propelled astronauts farther into space than ever before. The Trump administration is already looking to competitors for a replacement. About a week before the $24 billion Space Launch System pushed the four crew members of the Artemis II mission around the moon, NASA asked rivals what options they could offer for its ambitious plan of future lunar trips. That call, echoed almost immediately in the White House’s budget request, put a big question mark on the future of Boeing’s beleaguered rocket after roughly a decade of development. The fate of the program — worth tens of billions of dollars over the next few years — has become a key test for Jared Isaacman , the billionaire fintech entrepreneur who President Donald Trump named to run NASA last year, in his efforts to make the space agency faster and more efficient. He’s counting on new commercial companies like SpaceX to provide cheaper alternatives to the costly systems like SLS developed by legacy players like Boeing and Lockheed Martin Corp . “Because that program draws on such history, has contractors, hundreds of subcontractors, tens of thousands of people, it’s expensive,” Isaacman said in February. “It’s not the vehicle that you are going to take to and from the moon a couple of times a year as you build out a moon base the way the president wants.” That network of support — Artemis counts suppliers in all 50 states — has helped the program survive efforts to kill it over years of delays and cost overruns. The administration’s attempt to phase out the SLS and the Lockheed-made Orion crew capsule in its budget request last year ran into fierce opposition on Capitol Hill, where lawmakers ultimately succeeded in blocking the cuts. Last week, the White House signaled that it will try again to find commercial replacements. With a 2028 deadline looming to land astronauts on the moon before Trump leaves office and China planning its own mission by the end of the decade, Isaacman is un...
John M. Evans, CEO of Beam Therapeutics (NASDAQ:BEAM) , executed an open-market sale of 30,078 shares on April 1, 2026, valued at approximately $739,000 according to the SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($24.58); post-transaction value based on April 1, 2026 market close ($24.22). * 1-year performance calculated using April 1, 2026 as the reference date. Con...
John M. Evans, CEO of Beam Therapeutics (NASDAQ:BEAM) , executed an open-market sale of 30,078 shares on April 1, 2026, valued at approximately $739,000 according to the SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($24.58); post-transaction value based on April 1, 2026 market close ($24.22). * 1-year performance calculated using April 1, 2026 as the reference date. Continue reading
Novorossiysk Restarts Oil Loadings At Reduced Capacity After Drone Strike By Julianne Geiger of OilPrice Russia has restarted limited oil loadings at its Black Sea port of Novorossiysk after a drone attack earlier this week forced a full suspension. Operations at the Sheskharis terminal resumed late Thursday, but only one berth is currently active. A single cargo of roughly 80,000 tons is expected...
Novorossiysk Restarts Oil Loadings At Reduced Capacity After Drone Strike By Julianne Geiger of OilPrice Russia has restarted limited oil loadings at its Black Sea port of Novorossiysk after a drone attack earlier this week forced a full suspension. Operations at the Sheskharis terminal resumed late Thursday, but only one berth is currently active. A single cargo of roughly 80,000 tons is expected to depart, well below the terminal's normal capacity of about 700,000 barrels per day. The restart comes after the Monday strike that caused fires at a fuel terminal and damaged loading infrastructure. Shipments were halted entirely. The loading schedule had since been cut, and there is no timeline for a full return to operations. Fuel flows are also only partially back. Fuel oil loadings resumed Thursday, and at least one diesel cargo has been shipped since the attack, according to Reuters sources familiar with port activity. Novorossiysk is one of Russia's main export outlets on the Black Sea and a critical node for both Russian and Kazakh crude. The port handles shipments tied to the Caspian Pipeline Consortium system, which moves crude from major Kazakhstan fields including Tengiz and Kashagan. Damage to infrastructure earlier this week included impacts to storage tanks and loading equipment linked to CPC operations. Kazakhstan has said its export flows remain stable , but it's now operating with reduced flexibility. Russian export infrastructure, including Baltic ports like Primorsk and Ust-Luga and several inland refineries, have repeatedly found themselves the target of Ukrainian drone attacks. Each hit has tightened operational capacity rather than shutting it down completely. Cargoes are still moving, but at reduced rates and with fewer loading options available. Novorossiysk's partial restart restores some export flow, but capacity remains constrained. Tyler Durden Sat, 04/11/2026 - 09:20