A decade of policy changes in the Texas capital set the stage for a construction boom. The result is that prices are down and sales are up. Other cities are taking notice.
A decade of policy changes in the Texas capital set the stage for a construction boom. The result is that prices are down and sales are up. Other cities are taking notice.
(RTTNews) - After ending last Friday's choppy session mostly higher, stocks may see further upside in early trading on Monday. The major index futures are currently pointing to a modestly higher open for the markets, with the S&P 500 futures up by 0.2 percent.
(RTTNews) - After ending last Friday's choppy session mostly higher, stocks may see further upside in early trading on Monday. The major index futures are currently pointing to a modestly higher open for the markets, with the S&P 500 futures up by 0.2 percent.
Rafe Swan/Cultura via Getty Images Activist investor Toms Capital is repeating a call for Voya Financial ( VOYA ) to explore its options, including a sale of the company, and engage with interested buyers. “As a high-quality franchise trading at a historically anomalous and self-inflicted discount, Voya is at an inflection point — one that this management team can no longer be trusted to navigate,...
Rafe Swan/Cultura via Getty Images Activist investor Toms Capital is repeating a call for Voya Financial ( VOYA ) to explore its options, including a sale of the company, and engage with interested buyers. “As a high-quality franchise trading at a historically anomalous and self-inflicted discount, Voya is at an inflection point — one that this management team can no longer be trusted to navigate,” Toms Capital co-founder and Chief Investment Officer Benjamin Pass and principal Akash Bagaria wrote in the letter, which was reviewed by Bloomberg News on Monday. “The board’s continued inaction has become part of the problem.” Toms Capital argues that multiple asset managers would be logical buyers for Voya ( VOYA ). The latest update comes after reports in April that Toms Capital had taken a stake in Voya ( VOYA ) and was pushing for the company to put itself up for sale or offload its underperforming health insurer arm. More on Voya Financial Voya Financial, Inc. 2026 Q1 - Results - Earnings Call Presentation Voya Financial, Inc. (VOYA) Q1 2026 Earnings Call Transcript Voya Financial: Right On Fundamentals, But The Re-Rating Is Delayed (Rating Downgrade) Activist TOMS Capital repeats call for Voya to start strategic review Voya outlines $150M Q2 buybacks while targeting 2-plus % organic growth
Letting nature take over at a former dairy farm has resulted in a surge of species in just three years Three years of rewilding on a former dairy farm in east Somerset have seen recorded bird species soar from 67 to 94, butterfly species rise from 11 to 24 and small mammals grow in number. Heal Somerset, the first site acquired by the charity Heal Rewilding , has produced a state of nature report ...
Letting nature take over at a former dairy farm has resulted in a surge of species in just three years Three years of rewilding on a former dairy farm in east Somerset have seen recorded bird species soar from 67 to 94, butterfly species rise from 11 to 24 and small mammals grow in number. Heal Somerset, the first site acquired by the charity Heal Rewilding , has produced a state of nature report mirroring a national survey by environmental charities that has tracked the decline in nature. Continue reading...
natatravel/iStock via Getty Images Over the past nine weeks, the S&P 500 has soared nearly 20% from its correction low in late March. The primary fuel for the surge has been tremendous corporate profit growth for the first quarter, but more importantly, improving guidance for the current quarter and remainder of the year. I still think that a bubble is emerging in everything related to artificial ...
natatravel/iStock via Getty Images Over the past nine weeks, the S&P 500 has soared nearly 20% from its correction low in late March. The primary fuel for the surge has been tremendous corporate profit growth for the first quarter, but more importantly, improving guidance for the current quarter and remainder of the year. I still think that a bubble is emerging in everything related to artificial intelligence (AI), but it could continue to expand for another year or two before a pin comes along that pops it. Alan Greenspan was spot on when he raised concerns about “irrational exuberance” during the internet boom of the late 1990s, but he said that in December 1996. The bull market had three more years of phenomenal gains ahead of it. No one can time the market precisely. Therefore, I think the best way to manage this risk is by maintaining exposure to stocks but hedging or gradually decreasing that exposure over time as valuations get stretched and risks build. S&P 500 weekly change ( MetLife ) What has made the rally of the past two months even more impressive is that the market has advanced in the face of geopolitical and economic headwinds that continue to gain strength. The Trump administration continues to overpromise and underdeliver on a deal to end the war with Iran, but investors seem more concerned about missing out on a rally that may ensue when the conflict ultimately ends. That has kept a constant bid for stocks. Still, the rate of inflation is at a three-year high, and interest rates have risen sharply across the curve. If it were not for the AI investment narrative, I think these developments would have resulted in another steep correction. Instead, investors are looking past them as temporary speed bumps. Bloomberg Ironically, the market’s stellar performance is probably reducing President Trump’s sense of urgency in negotiating a deal that is not viewed as a complete capitulation by Iran, which I don’t see happening. The stock market is providing a ...
John M. Chase/iStock Unreleased via Getty Images Has Strategy ( MSTR ) just made a small treasury adjustment, or is it signaling a new approach to liquidity management? According to its latest Form 8-K filin g, Strategy sold 32 Bitcoin ( BTC-USD ) between May 26 and May 31, generating about $2.5M at an average price of $77.1K per coin. The move ended a remarkable 41-month streak of uninterrupted B...
John M. Chase/iStock Unreleased via Getty Images Has Strategy ( MSTR ) just made a small treasury adjustment, or is it signaling a new approach to liquidity management? According to its latest Form 8-K filin g, Strategy sold 32 Bitcoin ( BTC-USD ) between May 26 and May 31, generating about $2.5M at an average price of $77.1K per coin. The move ended a remarkable 41-month streak of uninterrupted Bitcoin purchases dating back to December 2022. The company said the Bitcoin sale proceeds will be used to fund upcoming preferred stock distributions. At the same time, the company aggressively raised liquidity through its at-the-market program, selling nearly 802K shares of Class A common stock and generating $128.3M in net proceeds. Despite the sale, Strategy remains the largest corporate Bitcoin holder. As of May 31, it owned 843.7K BTC acquired for a total cost of $63.87B, with an average purchase price of $75.7K per coin. The development comes as the largest cryptocurrency trades near ~$72K, down about ~2.25% on the day and roughly ~6.7% over the past week. Moreover, an SA report also flagged caution on May 29, stating, Seeking Alpha's Quant Ratings system assigned the MSTR stock a Sell rating , citing weak profitability metrics and negative price momentum. More on Strategy, Bitcoin USD, etc. As Asset Managers Exit Crypto, The Music May Be Stopping For Many Cryptocurrencies Bitcoin Drops Below $76,000 And Enters Correction Phase Bitcoin Held The $75K Test, But Options Confirmation Is Still Narrow Fed’s Waller says stablecoins could extend reach of U.S. monetary policy Prices, policy, pressure, flows all in action: What's happening in crypto market?
filo/E+ via Getty Images Co-authored by Relative Value. Overview Redwood Trust, Inc. ( RWT ) has recently issued its new 9.75% Senior Notes due 6/1/2031 ( RWTS ). We've covered the company's last issues of the same type - RWTP and RWTQ , shortly after their respective IPOs, and now we'll have a look at RWTS, too. Despite the appealing yield it offers, I prefer to play it safe and stay on the sidel...
filo/E+ via Getty Images Co-authored by Relative Value. Overview Redwood Trust, Inc. ( RWT ) has recently issued its new 9.75% Senior Notes due 6/1/2031 ( RWTS ). We've covered the company's last issues of the same type - RWTP and RWTQ , shortly after their respective IPOs, and now we'll have a look at RWTS, too. Despite the appealing yield it offers, I prefer to play it safe and stay on the sidelines for now. In the article that follows, I'll try to explain why it is so. RWTS RWTQ description ( RWTQ Prospectus) The new senior note pays 9.75% annual interest in $0.6094 quarterly payments, starting September 1, 2026. The interest accrues from and including May 27, 2026, so the first interest payment will be irregular in size and amount approximately $0.6365. RWTS has a maturity date of June 1, 2031, and is callable by Redwood Trust on and after June 1, 2028. The gross proceeds for the issuer amount to $125 million, for a total of 5 million senior notes issued with a $25 denomination each. The face amount outstanding makes RWYS a potential addition to the iShares Preferred and Income Securities ETF ( PFF ). RWTS price chart ( Seeking Alpha ) RWTS was just listed on May 29, 2026, priced at a small discount at $24.49. Its YTM calculated with the XIRR function is 10.67%: RWTS YTM calculation ( Author's Spreadsheet) Visualized: RWTS YTM (price) dependence ( Author's Spreadsheet) The YTC, again calculated with the internal rate of return method, is 11.34%. The YTC curve at this moment looks like this: RWTS YTC curve calculation ( Author's Spreadsheet) Capital And Dividend Coverage As of the end of Q1'26, Redwood Trust had $25.5 billion in total debt, of which approximately $4.7 billion is recourse debt: Redwood Trust recourse debt ( redwoodtrust.com) RWTS will increase this number by $125 million. At March 31, 2026, in aggregate, we had $3.90 billion of secured recourse debt outstanding, financing our mortgage banking platforms and investment portfolio, of which $3.02 bill...
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Nvidia CEO Declares AI PC Reinvention A "New Beginning" On Par With Smartphone Shift Nvidia CEO Jensen Huang delivered the keynote address on Monday at GTC Taipei 2026, outlining the next evolution of AI compute . Huang's presentation included updates on the Vera Rubin platform, a new lineup of Windows PCs developed with Microsoft for AI workflows , the launch of an enterprise agent toolkit, and n...
Nvidia CEO Declares AI PC Reinvention A "New Beginning" On Par With Smartphone Shift Nvidia CEO Jensen Huang delivered the keynote address on Monday at GTC Taipei 2026, outlining the next evolution of AI compute . Huang's presentation included updates on the Vera Rubin platform, a new lineup of Windows PCs developed with Microsoft for AI workflows , the launch of an enterprise agent toolkit, and next-generation AI infrastructure systems to accelerate data-center and agentic AI adoption. A team of Goldman analysts, led by James Schneider, attended GTC Taipei 2026 and shared the top takeaways with clients. Schneider had three key investment takeaways: First , Nvidia (with Microsoft) is pursuing its traditional PC TAM more aggressively, which we believe could help drive some momentum for Windows on ARM (which has been extremely slow to date) given a concerted push with software partners. Second , Nvidia continues to push its advantage in datacenter-level performance and cost leadership as a key differentiator relative to competitors - which we think should allow it to maintain competitive dominance at all but the largest hyperscalers. Third , Nvidia is aggressively investing to drive the adoption of agentic AI across developers and ecosystem partners, and its Vera Rubin revenue ramp remains on track. Here's more color on those takeaways: Vera Rubin update : Nvidia announced that it is now ramping full production of its Vera Rubin platform, with multiple rack-scale systems (NVL72 GPUs, Vera CPUs, Groq 3 LPUs, BlueField storage, Spectrum-X networking) contributing to AI factory designs. The company highlighted that Vera GPUs are purpose-built for agentic AI use cases, with up to 1.8X the performance of X86 systems and 10X agent throughput vs. Blackwell. We expect a materially steeper revenue ramp for Rubin (beginning in 3Q) relative to Blackwell given meaningful manufacturing efficiencies and greater total capacity. In addition, the company highlighted its DSX AI Factory...
Cristian Lourenço/iStock via Getty Images SL Green Realty ( SLG ), Manhattan's largest office landlord, agreed to sell 10 East 53rd Street for a total of $312.2M to Meadow Partners as part of its $2.5B strategic disposition plan for 2026, the REIT said Monday. The transaction, expected to close in Q3 2026, will generate net cash proceeds of ~$100M for SL Green ( SLG ) that will be used to repay co...
Cristian Lourenço/iStock via Getty Images SL Green Realty ( SLG ), Manhattan's largest office landlord, agreed to sell 10 East 53rd Street for a total of $312.2M to Meadow Partners as part of its $2.5B strategic disposition plan for 2026, the REIT said Monday. The transaction, expected to close in Q3 2026, will generate net cash proceeds of ~$100M for SL Green ( SLG ) that will be used to repay corporate debt. The 37-story, 390K-square-foot property, located on 53rd Street between Fifth Avenue and Madison Avenue, is currently 92% leased. SL Green ( SLG ) acquired its partner's 45.0% interest in the property at a gross valuation of $236.0M in December 2024, resulting in the REIT owning 100% of the property before it entered the transaction with Meadow Partners. " This transaction is a meaningful step forward in the execution of our $2.5B 2026 strategic disposition plan and further validates the value creation achieved through our redevelopment and asset management initiatives," said SL Green President and Chief Investment Officer Harrison Sitomer. SL Green ( SLG ) shares rose 0.7% in premarket trading. More on SL Green Realty SL Green: Occupancy Gains, But FFO Continues To Dip SL Green Realty: Dividend Cut And Record Leasing Fuel Their Potential Recovery SL Green Realty Corp. 2026 Q1 - Results - Earnings Call Presentation REIT stocks Q1 wrap-up: Here are top mid-cap quant-rated winners and losers