Key Points The Fed goes silent for more than three months every year. Trading volumes typically decline, and many investors “sell in May and go away”. 10 stocks we like better than Vanguard S&P 500 ETF › During the summer, the Federal Reserve "goes silent" between its mid-June and late-September policy meetings. Without the Fed giving any clear economic indicators through its interest rate decisio...
Key Points The Fed goes silent for more than three months every year. Trading volumes typically decline, and many investors “sell in May and go away”. 10 stocks we like better than Vanguard S&P 500 ETF › During the summer, the Federal Reserve "goes silent" between its mid-June and late-September policy meetings. Without the Fed giving any clear economic indicators through its interest rate decisions, investors typically trade less frequently. Let's review what typically happens during these "summer doldrums" and whether they impact long-term investors. How the summer doldrums impact stocks As trading volume declines during the summer, many investors take profits in their higher-growth stocks and rotate toward slower-growth defensive plays. That rotation, along with a lack of near-term catalysts from the Fed, often causes stocks to stagnate or slip lower. That's why some investors still "sell in May and go away." Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » However, that classic mantra shouldn't matter much to long-term investors, given that the S&P 500 has generated an average annual return of about 10% since its inception in 1957. Anyone who repeatedly sold their stocks in May likely underperformed the broader market. If you had simply invested in Vanguard's S&P 500 ETF (NYSEMKT: VOO) ten years ago and reinvested its dividends, you would have turned a $10,000 investment into about $42,500. It achieved that gain even as the COVID-19 pandemic, inflation, high interest rates, and geopolitical conflicts rattled the global economy. So if you're planning to hold your stocks for years instead of quarters, it's silly to fret over the Fed's summer silence every year. What unpredictable factors could impact the summer market? But even if you're not too concerned about the summer doldrums, you should be ...
Serabi Gold plc press release ( SBI:CA ): Q1 GAAP EPS of $27.72c. Revenue of $50.57M. More on Serabi Gold plc Serabi Gold plc GAAP EPS of $25.08c, revenue of $51.3M Historical earnings data for Serabi Gold plc Financial information for Serabi Gold plc
Serabi Gold plc press release ( SBI:CA ): Q1 GAAP EPS of $27.72c. Revenue of $50.57M. More on Serabi Gold plc Serabi Gold plc GAAP EPS of $25.08c, revenue of $51.3M Historical earnings data for Serabi Gold plc Financial information for Serabi Gold plc
nevarpp/iStock via Getty Images Investment Thesis Jackson Financial is not a stock that needs a complicated story. The investment case is straightforward: the stock is cheap, the business generates a lot of cash, management is conservative, and any excess capital is returned to shareholders. My core thesis is that Jackson Financial is a conservative compounder hidden inside a somewhat complex annu...
nevarpp/iStock via Getty Images Investment Thesis Jackson Financial is not a stock that needs a complicated story. The investment case is straightforward: the stock is cheap, the business generates a lot of cash, management is conservative, and any excess capital is returned to shareholders. My core thesis is that Jackson Financial is a conservative compounder hidden inside a somewhat complex annuity business. It is a leading U.S. annuity provider with a large book of business, stable underlying earnings power, and a strong capital base. Since being spun off from Prudential plc ( PUK ) in 2021, management has translated those strengths into strong shareholder returns, and I believe the company can continue doing so in the years ahead. To explain my thesis, I will focus on four points. First, annuities place customer capital under Jackson’s administration, creating sticky assets from which fees can often be harvested for decades. Second, Jackson's real earnings are stronger than GAAP earnings might suggest because reported earnings are heavily distorted by mark-to-market accounting for their hedging program. Third, Jackson is valued cheaply across multiple metrics, including earnings, free cash flow, book value, and shareholder returns. Finally, the company is not merely a runoff story: sales numbers indicate that their book of business is growing, setting Jackson up for decades of growing fee-based income. Based on management's 2026 capital return target, Jackson offers a projected shareholder return yield of roughly 14% at the current market capitalization. That alone makes the stock a candidate for strong returns. A multiple rerating would be a bonus, but it is not a necessary path to attractive returns. I therefore rate Jackson Financial a Buy. Understanding Annuities: The Product Behind Jackson’s Economics To understand Jackson Financial, one first has to understand why annuities exist in the first place. In the U.S., most Americans accumulate retirement savings...
The Elmet Group Co. press release ( ELMT ): Q1 GAAP EPS of -$0.02. Revenue of $56M. Gross profit margin improved 260 basis points to 21.2% of revenue compared to 18.6% of revenue Q1 2025. Adjusted EBITDA increased to approximately $9.2 million, or 16.4% of revenue, compared to approximately $4.5 million, or 9.6% of revenue, in Q1 2025. Open order backlog increased to approximately $113.3 million, ...
The Elmet Group Co. press release ( ELMT ): Q1 GAAP EPS of -$0.02. Revenue of $56M. Gross profit margin improved 260 basis points to 21.2% of revenue compared to 18.6% of revenue Q1 2025. Adjusted EBITDA increased to approximately $9.2 million, or 16.4% of revenue, compared to approximately $4.5 million, or 9.6% of revenue, in Q1 2025. Open order backlog increased to approximately $113.3 million, up from approximately $96.3 million at the end of Q4 2025 and approximately $74.7 million at the end of Q1 2025. More on The Elmet Group Co. Elmet Group: Some Questions On This Rare And Critical Materials Business The Elmet Group Seeks IPO On Moderate Revenue Growth, Capacity Increase Historical earnings data for The Elmet Group Co. Financial information for The Elmet Group Co.
Key Points Housing demand is weighed down by both high interest rates and home prices relative to household income. Housing supply is low because new construction isn’t making up for the shortfall in sales of existing homes. Companies with exposure to the housing market offer an alternative way to benefit from an eventual recovery. 10 stocks we like better than Zillow Group › Zillow (NASDAQ: ZG) (...
Key Points Housing demand is weighed down by both high interest rates and home prices relative to household income. Housing supply is low because new construction isn’t making up for the shortfall in sales of existing homes. Companies with exposure to the housing market offer an alternative way to benefit from an eventual recovery. 10 stocks we like better than Zillow Group › Zillow (NASDAQ: ZG) (NASDAQ: Z) stock is hovering around a three-year low. This follows the company's delivery of weak guidance with a forecast for a flat housing market in the second half of the year, even when factoring in a slower-than-expected start to the year. Here's a look at why the housing market is under pressure, and at three stocks that can reward patient investors. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » The housing-market glut The housing market is a textbook example of supply and demand. Supply is influenced by housing availability, from existing homes and new builds, which are impacted by zoning and tax laws. Demand fluctuates based on interest rates, lending options, employment, and housing prices relative to the median household income. Housing prices surged early in the pandemic as 30-year mortgage interest rates fell to multi-decade lows. But those prices have stayed high even as mortgage rates have climbed far above pre-pandemic levels: The Case-Shiller U.S. National Home Price Index tracks changes in the value of single-family U.S. homes, similar to how stock market indexes like the S&P 500 and the Dow Jones Industrial Average measure changes in a basket of stocks. As you can see in the above chart, the Case-Shiller index and the median sales price of an existing U.S. home surged in the early 2000s, then pulled back during the Great Recession, but both have rapidly recovered over the last 15 year...
Anthony Gordon has signed for Barcelona from Newcastle in a five-year deal believed to be worth £69.3m. Both clubs announced the move on Friday night, with the Spanish giants saying in a statement that the 25-year-old winger will sign for “the next five seasons, until June 30, 2031”. “FC Barcelona and Newcastle United have reached an agreement for Anthony Gordon to become a blaugrana for the next ...
Anthony Gordon has signed for Barcelona from Newcastle in a five-year deal believed to be worth £69.3m. Both clubs announced the move on Friday night, with the Spanish giants saying in a statement that the 25-year-old winger will sign for “the next five seasons, until June 30, 2031”. “FC Barcelona and Newcastle United have reached an agreement for Anthony Gordon to become a blaugrana for the next five seasons,” Barcelona added. “Newcastle United can confirm that Anthony Gordon has signed for La Liga champions Barcelona for a significant undisclosed fee,” the Premier League club said. He had swapped Everton for the north-east of England in a £40m January 2023 move. Gordon told Newcastle’s official website: “I owe this club a lot because, when I arrived, I was quite lost both in life and and in football. The club has given me a sense of belonging and a sense of identity. It’s allowed me to do what I always thought I could do. It’s put me on the biggest stage and allowed me to perform for the shirt. “Since coming to the club, I feel I’ve improved a lot on the pitch but this club has played a big part in the person I’ve become over the last three-and-a-half years. “It was really important for me to leave this place in a good way because I’ve loved every single minute of being a part of Newcastle United. This is an incredible club and one that I’ll never forget. I’ll be a fan for the rest of my life.” Newcastle’s head coach Eddie Howe said the club are “disappointed to lose Anthony” but that “we understand that this is a big opportunity for him”. “He has been a big part of our success in recent years … He leaves with our best wishes, and I am confident that he will go onto be a success, both with Barcelona and the national team at this year’s World Cup.” Following the announcement, Gordon participated in an unveiling event in Spain. Despite the announcements, the transfer window does not open until 15 June, when formalities relating to the transfer are expected to be pro...
Dilok Klaisataporn/iStock via Getty Images By Carsten Brzeski , Global Head of Macro Headline inflation came down in May as the government's measures to tackle higher energy prices started to take effect You have heard it before: there is very little central banks can do to bring down energy prices. This is an argument often used to justify a muted monetary policy response to energy price shocks. ...
Dilok Klaisataporn/iStock via Getty Images By Carsten Brzeski , Global Head of Macro Headline inflation came down in May as the government's measures to tackle higher energy prices started to take effect You have heard it before: there is very little central banks can do to bring down energy prices. This is an argument often used to justify a muted monetary policy response to energy price shocks. But while central banks cannot lower energy prices, governments can – at least temporarily. This is the main message coming from the just-released German inflation data. Despite the ongoing war in the Middle East, German headline inflation dropped in May to 2.6% year-on-year, from 2.9% YoY in April. The European inflation measure, more relevant for the European Central Bank, came in at 2.7% YoY, from 2.9% YoY in April. On the month, prices actually dropped by 0.2%; the first monthly drop since January. Both core inflation and services inflation increased in May and are now back at levels seen before the war in the Middle East started. Looking at the available components, it was not only energy prices that actually dropped compared to April, but also food prices and prices for transportation, clothing and household goods. The drop in energy prices was obviously the most notable move but can be explained by the government's so-called tax rebate, lowering fuel and diesel taxes by some 17 cents per litre in May and June. This also means that today’s inflation numbers should not be read as a sign that the inflation wave is already over before it actually started but rather as a confirmation that this is a relatively mild inflation wave. Looking ahead, we still expect knock-on effects from higher energy prices on transportation costs, food prices and other industrial products over the coming months. In fact, not everyone will benefit from tax rebates. Needless to say, the longer the war in the Middle East and the blockade of the Strait of Hormuz last, the higher the likelihood th...
Monty Rakusen/DigitalVision via Getty Images Cerebras Systems ( CBRS ) hit the market with a splash, with shares surging nearly 70% by the time markets closed on the day of its initial public offering on May 14. It marked the biggest listing of the year. Shares were trading at $385 just moments after going live. However, they've since taken a tumble and are down roughly 25% from their opening day ...
Monty Rakusen/DigitalVision via Getty Images Cerebras Systems ( CBRS ) hit the market with a splash, with shares surging nearly 70% by the time markets closed on the day of its initial public offering on May 14. It marked the biggest listing of the year. Shares were trading at $385 just moments after going live. However, they've since taken a tumble and are down roughly 25% from their opening day close of $311. Still, the stock remains above its IPO price of $185. The impressive start allowed Cerebras to receive a fast-track authorization for inclusion on the S&P Dow Jones Indices. The company's flagship technology includes the Wafer-Scale Engine 3, or WSE-3, which it contends is the fastest commercialized AI processor in the world. The company said it is 58 times larger than the leading GPU chip and uses a fraction of the power per unit of compute while delivering inference up to 15 times faster than leading GPU-based solutions offered by competitor Nvidia ( NVDA ). Last month, Cerebras secured a $20B deal with OpenAI (OPENAI ) to provide servers powered by its AI chips over the next three years. And in March, it announced a collaboration with Amazon (AMZN ) to deploy a new AI data center solution designed to increase inference speed. It has a backlog of $24.6B. The vast majority of that is tied to OpenAI. Cerebras expects to recognize 15% of that amount within the next two years. "Based on the partnership with OpenAI/AWS and our analysis on TAM, we expect its revenue to be at the $1.2B, $3.2B, and $5.5B levels in 2026, 2027E, and 2028E, suggesting 10x 2028E P/S at current level," said GF Securities analyst Jeff Pu. "That said, the valuation doesn't seem particularly cheap, while the upside risks would be the breakthrough in scaling." More on Cerebras Systems Inc. Cerebras: Fast Tokens Are A Real Moat Cerebras: Why I'm Selling The Biggest AI IPO Of The Year Cerebras: Why Speed May Beat Intelligence In The Next AI Boom GF sees on-chip memory a niche AI inference tre...
The world’s chip giants will descend on Taiwan for the annual Computex Taipei conference next week. The gathering, which runs from June 2 through June 5, will likely feature a number of product announcements and industry updates from the likes of AMD (AMD), Intel (INTC), Nvidia (NVDA), and Qualcomm (QCOM). Nvidia will kick things off with its own GTC Taipei beginning June 1 with a keynote from CEO...
The world’s chip giants will descend on Taiwan for the annual Computex Taipei conference next week. The gathering, which runs from June 2 through June 5, will likely feature a number of product announcements and industry updates from the likes of AMD (AMD), Intel (INTC), Nvidia (NVDA), and Qualcomm (QCOM). Nvidia will kick things off with its own GTC Taipei beginning June 1 with a keynote from CEO Jensen Huang. The executive has been in Taiwan for the past several days, meeting with corporate partners and hosting an event for Nvidia’s future headquarters in the country called Nvidia Constellation, which will be home to some 4,000 workers. In a statement, Huang noted that the company has dramatically increased spending in the island nation, saying Nvidia will spend upwards of $150 billion a year in Taiwan, up from $10 billion to $15 billion just four years ago, Reuters reported. Huang is expected to tout Nvidia’s continued strength thanks to the global AI build-out, while highlighting its next-generation Vera Rubin AI platform. According to a company blog post, Huang also teased a secret upcoming product during a dinner with Quanta Computer executives on Wednesday. It’s unclear if he will reveal the product at GTC or sometime later this year. “Vera Rubin bringing that to full production, getting all of our supply chain ramped on that and ready to kind of deploy it at scale is really where a lot of the core focus will be,” explained Dion Harris, senior director of HPC and AI hyperscale infrastructure solutions at Nvidia. “Of course … Nvidia is a platform company, and so we’ll talk about a lot of our other platforms as well, in addition to data center, that will be used to help drive that agentic inflection point,” he added. Nvidia rival AMD will also likely have updates about its various data center offerings, including its upcoming Helios server rack, which will compete directly with Nvidia’s own NVL72 server rack. Ahead of Computex, AMD announced it is investing mor...