3月30日晚，麻醉药龙头企业ST人福（600079.SH）发布2025年年度报告，公司营收下降，但归母净利润录得大幅增长。 2025年，ST人福历经多个对公司发展影响重大的事件，完成股权变更，易主国资，同时因历史遗留问题被实施其他风险警示。 根据ST人福2025年年度报告，公司2025年实现营业收入239.62亿元，同比下降5.79%；归母净利润18.55亿元，同比增长39.53%。 2025年，ST人福完成股权变更，成为招商局集团旗下企业。公司原控股股东武汉当代科技产业集团股份有限公司（以下简称“当代科技“）重整计划于2025年4月被湖北省武汉市中级人民法院裁定批准，2025年6月当代科技所持有的全部3.87亿股人福医药股份通过司法划转方式，办理完成股份过户登记手续。 通过本次股份过户，招商生命科技（武汉）有限公司（以下简称“招商生科”）直接持有、通过其控制的有限合伙企业间接持有和接受信托计划表决权委托方式合计控制人福医药3.87亿股普通股表决权，占公司总股本的23.70%。截至2025年7月30日，招商生科已完成对公司董事会改组等程序，公司控股股东变更为招商生科。 2025年12月12日，人福医药发布《关于实施其他风险警示暨停牌的公告》（以下简称《停牌公告》）。一向业绩稳健的“麻醉一哥”突然被实施其他风险警示，也令市场惊讶，这背后涉及前控股股东的历史遗留问题，根据中国证监会湖北监管局披露内容，“当代系”实际控制人福医药期间，财务上出现大量违法行为。 4月1日，ST人福股价报收19.07元/股，涨幅为1.27%。 卖资产瘦身 对于业绩变化的原因，ST人福在年报中指出，报告期内，公司实现营业收入239.62亿元，较上年同期减少5.79%，主要系受医药行业支付端结构性改革影响，以及公司落实“归核聚焦”工作，优化业务结构所致。 在此背景下，公司通过精细化管理、薪酬体系优化、控制负债规模并降低融资成本等方式，实现归母净利润18.55亿元，较上年同期增长39.53%，实现扣非净利润17.62亿元，较上年同期增长54.75%。 ST人福在年报中屡次提及“归核聚焦”的概念。ST人福介绍，报告期内，公司完成了宜昌仁济母婴健康管理有限公司、人福医药集团医疗用品有限公司、杭州诺嘉医疗设备有限公司等公司股权的出售工作，注销了宜昌人福医疗器械有限责任公司、武汉市智盈新成企业咨询有限公司等...

核心要点 总统此番言论，是在美国盟友不愿协助重新开放霍尔木兹海峡后，对其发出的最新威胁。 欧洲盟友认为，美国对伊朗开战是主动选择，且是一场事前未与他们磋商的冲突。 特朗普痛批北约盟友，不愿参与美以针对伊朗的军事行动。 美国总统唐纳德・特朗普于 2026 年 1 月 21 日，在瑞士达沃斯举办的世界经济论坛（WEF）年会期间，与北约秘书长马克・吕特举行双边会晤。此次全球政商领袖年度会议召开之际，美欧关系因一系列问题日趋紧张，其中包括特朗普誓言要吞并丹麦半自治领地格陵兰岛。 据报道，美国总统唐纳德・特朗普正考虑让美国退出北约。此前，欧洲盟友不愿协助重新开放霍尔木兹海峡，此举是对美国盟友的最新威胁。 在接受《每日电讯报》采访时，总统将这个拥有 77 年历史的防御联盟称为 “ 纸老虎 ”。当被问及伊朗冲突结束后，是否会重新考虑美国在该集团的成员资格时，特朗普对该报表示：“哦，是的，我想说这已经不是重新考虑的问题了。” “我从来都不信北约。我一直都知道他们是纸老虎，顺便说一句，普京也知道这一点，” 他在周三发表的评论中说道。 欧洲盟友拒绝派遣军舰协助重新开放霍尔木兹海峡 —— 这条由伊朗控制的重要油气海运通道，也拒绝让美国使用军事基地发动对伊朗伊斯兰共和国的袭击，这令特朗普大为恼火。 欧洲领导人认为，任何重新开放霍尔木兹海峡的企图都极度危险，因为伊朗仍在持续袭击海峡中那些被其认定为非 “友好” 国家的油轮。 官员们还认为，特朗普对伊朗的战争是主动选择，且是 2 月底开战前未与他们磋商的行动。他们也不愿卷入中东地区另一场可能成为 “永久战争” 的冲突，就像伊拉克或阿富汗战争那样。 特朗普明确表示，在美国已协助乌克兰进行长达四年的对俄冲突后，欧洲盟友的这种不情愿就是北约对美国的背叛。反对这一观点的人则认为，北约的基石是集体防御理念，而非集体进攻。 总统告诉《每日电讯报》，他原本以为盟友会默许美国在伊朗问题上的援助请求。 “他们不仅没有伸出援手，这简直令人难以置信。而且我也没怎么强求。我只是说，‘嘿’，你知道的，我没有过分坚持。我只是觉得这应该是理所当然的事，” 他在周三发表的评论中说，并补充道： “我们向来都是理所当然地伸出援手，包括在乌克兰问题上。乌克兰本来不是我们的问题。那是一场考验，我们为他们挺身而出，而且我们永远都会为他们挺身而出。但他们却没有为我们这么做。” 特朗普发表...

最近在做开源项目维护的开发者，可能会有一种奇怪的错觉：Bug 似乎报告变多了，而且变准了——更准确地说，是 AI 报的 Bug，突然开始“靠谱了”。 这不是个别项目的偶然现象，而是一场几乎同步发生在整个开源世界的变化。在最近的 KubeCon Europe 上，Linux 内核核心维护者 Greg Kroah-Hartman 给出了一个让人有点不安的信息： “大概一个月前，像是有什么东西变了。现在我们收到的 AI 报告，都是真正有价值的 Bug 报告。” 可问题是——没人知道发生了什么。 从“AI 垃圾”到“真实报告”，只用了一个月 Greg 回忆说，就在几个月前，Linux 内核团队还在被一类东西“骚扰”：“我们当时把它叫做 AI slop（AI 垃圾）。” 这些由 AI 生成的安全报告，大多存在明显问题：逻辑不成立、漏洞不存在、描述混乱，甚至连基本的代码路径都对不上。对维护者来说，它们更像是一种干扰，而不是帮助。 好在 Linux 内核维护者团队规模庞大，这类干扰尚可承受。但对于一些小项目来说，情况就没那么乐观了：比如 Daniel Stenberg 主导的 cURL 项目，就因为 AI 垃圾报告泛滥，一度直接停止了 Bug 赏金计划，因为根本无力甄别真假。 但转折点突然出现——Greg 的描述很直接：“某个时间点之后，情况突然就变了。” 现在的情况是： ● AI 提交的 Bug 报告，大多数是可验证的真实问题； ● 报告结构更清晰，分析路径更合理； ● 不再是“胡乱猜测”，而是接近人类开发者水平的安全分析。 更重要的是，这并非 Linux 独有现象。 “所有开源项目都开始收到 AI 生成的高质量、真实有效报告，不再是以前的垃圾内容。”Greg 表示，各大主流开源项目的安全团队平时会频繁私下交流，大家都观察到了同样的转变：“现在所有开源安全团队都在经历这件事。” 当被问到“到底是什么改变了”时，他的回答非常直接：“不知道，真的没人知道。” Greg 推测，要么是一大批AI工具突然大幅变强，要么是很多人开始认真研究这块了，似乎有很多不同团队、不同公司在同时发力。 但无论原因是什么，可以确认的一点是：整个开源安全生态，正在同步经历这场“AI 跃迁”。 不只是找 Bug，AI 已经开始“修 Bug” 变化还不止于此。目前在 Linux 内核中，AI 的主要角色仍集中在...

President Donald Trump arrived at the US Supreme Court on Wednesday as justices consider the constitutionality of his bid to curb who is eligible for automatic citizenship when born in the US. It’s the first time a sitting president has attended an argument in recorded Supreme Court history. Read More: Trump Seeks to Upend Citizenship Rules at Supreme Court The Supreme Court hears arguments in Washington amid Trump’s assertion that the birthright citizenship provision in the Constitution was designed to cover the children of freed slaves and should not be applied as broadly as it has been. Critics say Trump is seeking to rewrite the 14th Amendment, which was ratified in 1868. The first sentence of the amendment promises citizenship to “all persons” who are born in the US and “subject to the jurisdiction thereof,” a provision many scholars, advocates and public officials say is straightforward in its breadth. Trump’s attendance at the argument will create an unusual spectacle inside the courtroom. Presidents occasionally go to ceremonial Supreme Court sessions — such as the formal investiture of a new justice — but no chief executive has sat through an argument, at least in the modern era. The president’s seat is just a few feet away from the justices, including those he derided in personal terms after the court struck down his signature global tariffs in February. Trump suggested on several occasions he would attend the tariffs arguments but he never did show up. He announced his intention to attend the birthright citizenship arguments on Tuesday. “I do believe, because I have listened to this argument for so long, and this is not about Chinese billionaires, who are billionaires from other countries, who all of a sudden have 75 children, or 59 children in one case, or 10 children becoming American citizens,” Trump told reporters. “This was about slaves. And if you take a look, slaves, we’re talking about slaves from the Civil War.” Trump’s executive order would bloc...

Klaus Vedfelt/DigitalVision via Getty Images Some investors I follow fairly religiously to see what they do in the market - and when they make a move, I tend to pay attention. What I usually do when an investor I respect (a public one) makes a move, I tend to at the very least look at the company that they have elected to invest in, to see if it is something that I might want to invest in also. In those cases, I spend a lot of time on things like fundamentals, to make sure that I'm not buying something for reasons that might be good for an investor of that size (that I am following), but may be a sub-par choice for me. Warren Buffett is one such investor. He not only bought stakes in Constellation Brands ( STZ ) in late 2024, which put the company on my radar, but he doubled down on the stake despite sector issues back in mid-2025. As far as official filings go, the ownership now amounts to about ~13M shares worth about $2B, which is a stake of over 7%, but below 8%. This was of interest to me because Warren Buffett tends to look for very similar fundamentals as I do. Strong cash flows, good fundamentals, and a company undervalued by the market relative to what it is actually worth. A "bargain", in other words, or a "good company". I waited a bit longer than Warren Buffett to expand this stake, but expand it I did. It wasn't a blind following from me, but rather confirmed a long-held belief that, first of all, the distillers, vintners, and alcohol companies of the world, after having seen a long period of overvaluation, are now undervalued. Secondly, that undervaluation is growing more and more, and growing more than I believe is justified by the overall decline in consumption by younger generations. First off, it's not yet clear whether this trend is just a small speedbump or actually something conservatively long-term. Secondly, it completely underestimates this brand's ability to adapt. And that, dear readers, is what I will look at here. Constellation Brands - T...

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布油短线小幅拉升，伊朗称鉴于特朗普的“荒谬”表现，海峡不会重新开放。

QCOM Apr 2026 110.000 put (QCOM260402P00110000) interactive stock chart Yahoo Finance UK

没有面谈、没有预警、也没有任何电话沟通。 3 月 31 日凌晨 6 点，一封由公司统一发送的裁员通知邮件，静静出现在全球科技巨头 Oracle（甲骨文）数万名员工的工作邮箱中。很多人直到点开邮件，才意识到自己已被公司解雇。 据多家外媒报道，甲骨文这一轮裁员规模高达 2 万至 3 万人，约占其全球 16.2 万名员工的约 18%，波及美国、印度等多个地区，被外界视为 Oracle 历史上规模最大的一次裁员行动。 最冷酷的告别：一封邮件定去留 对于被卷入这场风波的员工而言，这一天的开场格外荒诞。当大多数人还在准备开始一天的工作时，一封落款为“甲骨文管理层”的辞退邮件，已经准时送达。 据 Business Insider 看到的通知邮件副本以及 Reddit 社交平台上内部员工分享的内容显示，这封邮件内容简洁得近乎冷漠：“经过对 Oracle 当前业务的慎重评估，我们决定撤销你的岗位，这是公司整体组织架构调整的一部分。因此，今天是您在公司的最后一个工作日。” 邮件同时告知，在签署离职相关文件后，员工可依据离职补偿计划的条款与条件，获得相应的补偿方案。 为了确保后续重要信息能够顺利送达，包括常见问题解答和离职流程相关文件，公司还要求员工立刻提供个人邮箱，并通过指定链接提交。 邮件特别强调，这一个人邮箱仅会被用于与离职及补偿相关的沟通。 几乎在邮件送达的同一时间，不少员工的内部系统权限被立刻收回，没有缓冲，没有沟通，全程机械化执行。 网传的内部裁员邮件 此外，这场裁员覆盖范围也相当广泛。从 Reddit 、Blind 等社交平台上员工分享的信息来看，此次受影响最严重的团队包括： 营收与健康科学部门。有员工表示，裁员幅度至少达到 30%，其中一次行动就裁掉了各个业务部门的 16 名或更多工程师。 SaaS 与虚拟运营服务部门，裁员比例预估超过 30% NetSuite 印度研发中心，从基层员工到管理层无一幸免。 有人前一天还在正常推进项目，醒来就被彻底排除在公司之外。 裁员 13 小时独白：26 年坚守，败给“后入先出” 裁员邮件发出 13 小时后，一位在甲骨文坚守了 26 年的老员工，在 Reddit 上写下了自己的真实心声，文字里藏着委屈、愤怒与不舍。 他也有些失望地说：“我在 Oracle 工作了 26 年，结果在早上 6 点收到那封邮件。连一通电话都懒得打，这种做法真的...

Oracle (ORCL): The AI Infrastructure Landlord of 2026 The Chronicle-Journal

Oracle (ORCL): The AI Infrastructure Landlord of 2026 markets.chroniclejournal.com

Oracle (ORCL): The AI Infrastructure Landlord of 2026 FinancialContent

Justin Sullivan/Getty Images News Nike ( NKE ) warned of weak sales ahead in China, where demand stayed soft and Greater China revenue dropped 10% in Q3, with Nike Direct down 5% and wholesale plunging 13%. The outlook could ripple across apparel and footwear peers facing similar headwinds in the key market. In light of this, below is a list of the top 10 footwear stocks ranked according to their Seeking Alpha Quant Ratings. The list is organized by Quant Rating, showcasing companies in the footwear sector based on their quantitative performance metrics. Rocky Brands, Inc. ( RCKY ) leads the list with a Strong Buy rating of 4.77, making it the clear standout among footwear stocks. Deckers Outdoor Corporation ( DECK ) and Crocs, Inc. ( CROX ) follow as runners-up, each earning Hold ratings with scores of 3.37 and 3.34, respectively. The list also features well-known global brands such as NIKE, Inc. ( NKE ) and Birkenstock Holding plc ( BIRK ), both carrying Hold ratings. Across the top 10, Quant Ratings range from a high of 4.77 for Rocky Brands down to 2.04 for On Holding AG ( ONON ), reflecting a wide spectrum of quantitative assessments within the footwear industry. Nike's struggles highlight broader challenges from local competition, inventory overhang, and economic slowdowns dragging on discretionary spending. Here is the list: Rocky Brands, Inc. ( RCKY ), Quant Rating: 4.77, YTD perf: +32% Deckers Outdoor Corporation ( DECK ), Quant Rating: 3.37, YTD perf: -3.45% Crocs, Inc. ( CROX ), Quant Rating: 3.34, YTD perf: -2.92% NIKE, Inc. ( NKE ), Quant Rating: 3.02, YTD perf: -17.09% Birkenstock Holding plc ( BIRK ), Quant Rating: 2.83, YTD perf: -12.40% PUMA SE ( PUMSY ), Quant Rating: 2.70, YTD perf: -3.92% Wolverine World Wide, Inc. ( WWW ), Quant Rating: 2.69, YTD perf: -10.08% Allbirds, Inc. ( BIRD ), Quant Rating: 2.58, YTD perf: -26.59% Steven Madden, Ltd. ( SHOO ), Quant Rating: 2.10, YTD perf: -18.54% On Holding AG ( ONON ), Quant Rating: 2.04, YTD perf: -26...

OpenAI 从 2 月 13 号开始宣布上线广告，那么两个月过去了，它到底卖得怎么样了呢？ 这篇文章我们就来盘一盘。 一、从数据看 OpenAI 广告测试进展 根据The Information3月26日的报道，OpenAI 的 ChatGPT 广告业务ARR（年度经常性收入），已达到 1 亿美元。 这个口径挺奇怪的，广告行业几乎从来不用 ARR 这个指标. 这是一个非常不准确的指标，因为广告不是SaaS这种订阅的收入模式。 所以，我们应该看更细致的数据—— 报道称目前有不到 20%的 ChatGPT 用户可以看到广告，OpenAI 已扩展到 600 多个广告主，计划于4月推出自助式广告后台。 广告主层面，ChatGPT的广告是品牌广告和效果广告一起推进的。 品牌广告层面，三大广告集团——电通、宏盟集团、WPP被邀请参与测试，参与的品牌保底充值是20万美金。 效果广告层面，程序化广告的第一家合作方选择了Criteo。 Criteo是一家规模不算大的纳斯达克上市广告公司，引入17000家广告主，和Shopify Shop Campaigns也开始合作。 媒体报道说OpenAI和The Trade Desk（全球最大独立程序化广告平台）也已经在初步接触，因为这个消息，The Trade Desk 的股价还涨了不少。 根据Sensor Tower的监测数据——两周内100+品牌在ChatGPT投放广告。 我看了，都是大牌。 之所以选大牌，这应该也是想保证测试期的体验，给业界和用户留一个好的第一印象。 同样是Sensor Tower的监测数据：沃尔玛、塔吉特等零售行业是品牌广告的主要行业。 那么，ChatGPT的广告效果到底怎么样呢？ NP Digital这家公司收集收集了5个广告主的数据，效果是这样的—— GPT线索质量比Meta高出256%，但比 Google低49%； 在成本方面，CPA比Meta低46%，比Google低 38%。 客户最终看的是这两个数据的加成后的效果，就是你不仅单个线索成本要低，而且有效线索率还要高。 这么看的话，GPT的广告和谷歌的搜索广告差不多，比Meta明显要好。 当然，这只是小样本数据，真正上线后，竞价会更充分，能不能保持效果还要打一个问号。 这么看，ChatGPT的广告测试貌似推进得不错啊！ 事实没有辣么简单—— 有些地方时非常草台班...

国际能源署署长法提赫・比罗尔在周三发布的一档播客中表示，该机构正考虑是否需要再次紧急释放石油储备，并建议各国政府采取其他节能措施，例如推行居家办公、降低汽车限速标准等。 比罗尔在由挪威银行投资管理公司首席执行官尼古拉・坦根主持的节目中称：“4月份的形势将比3月份严峻得多。”他表示，3月份的石油供应得益于伊朗战争爆发前已在途的船货，因此情况相对缓和。他补充道：“4月份的石油供应缺口将达到3月份的两倍。” 上月，包括美国在内的32个国际能源署成员国从应急储备中释放了4亿桶石油，以压低原油价格，这是该机构历史上规模最大的一次储备投放。 比罗尔称：“我们正以每日甚至每小时的频率评估市场形势”，以决定是否进一步采取干预措施。 责任编辑：陈钰嘉

Does Palantir's massive military AI score justify buying the stock at these prices? msn.com

Max Zolotukhin/iStock via Getty Images At first glance, Horizon Technology Finance ( HRZN )'s baby bond ( HTFC ) looks attractive due to its high yield to maturity, but we don't think so. In our previous article from 2025 (you can see it here ), we looked at HRZN and its two baby bonds—HTFB and HTFC. At that time, we assigned an adjusted Ba2 credit rating to HRZN and highlighted HTFC as an interesting option due to its yield to worst of ~8%. Since then, the credit picturе has chаnged: HRZN has significаntly rеduced its mоnthly dividеnd — from $0.11 to $0.06 pеr shаre — signaling deteriorating portfolio performance. The common stock’s discоunt has increased drаmatically, from аpproximately 6% to оver 41%, and the asset coverage ratio cushion has nаrrowed from 18% to аaround 11%. These developmеnts have cаused us to rеvisit our thеsis and rеassess whеther HTFC still reprеsents an invеstment oppоrtunity — or whеther the highеr yiеld nоw reflects a fundamentally riskier instrument. A deeper analysis in the following lines reveals significant weaknesses in the company's balance sheet and credit profile and why we shouldn't invest in it right now. HRZN Overview HRZN's portfolio (HRZN website) HRZN has close to $812 million in total assets at the end of 2025. The company's current market capitalization is close to $196 million. The total debt is around $473 million. The largest part of the BDC is 46% in "Life Science" and 34% in "Technology" when we talk about industry, and 36% in "Medical Device" and 32% in "Software" when we talk about sectors. The 5-year return on NAV of the company is close to 4.52%, and the 10-year return is around 5.48%. HRZN has close to 59% total leverage, an expense ratio of 15.92%, and a gross-asset non-leverage expense ratio of around 2.16%. Its 1-year z-score is a negative 2.68. HRZN's details (Cefdata website) The average discount for the last 5 years is close to 15.53%, while currently the common stock is traded at around a 41.4% discount. Yo...

Perry Spring/iStock via Getty Images St. Louis Federal Reserve Bank President Alberto Musalem supported the FOMC's decision to leave the policy rate unchanged in March, but can support raising the rate or lowering it as required. " I could support raising the policy rate to avoid an inadvertent real easing that would result from holding the policy rate constant, if poor inflation or medium- to long-term inflation expectations moved persistently higher and away from 2%," noted Musalem. He was speaking in a moderated conversation on the U.S. economy and monetary policy before the American Enterprise Institute. " I could support additional easing if a greater risk of a weakening labor market becomes apparent, provided inflation and inflation expectations are not moving persistently higher," he said. "I could also support lowering the policy rate to prevent the real rate from rising if actual or expected inflation falls." Developing... Check back for updates. More on Musalem St. Louis Fed's Musalem reiterates that monetary policy is well-positioned St. Louis Fed's Musalem says lowering rates now would be 'unadvisable' St. Louis Fed's Musalem sees 'little reason' for further rate cuts

图片来源：界面新闻 近期，美的、海尔、海信、TCL、西门子、松下等多家主流家电品牌陆续发布涨价通知，引发广泛关注。 据都市快报报道，在记者线下走访中，海尔和美的空调经销商确认了涨价消息。“整体都在涨，空调里用铜用得多。”海尔空调经销商告诉记者。一位美的销售人员则透露，“个别机型涨幅在30%。”电视品类受芯片价格上涨影响，部分线上型号已率先调价。 TCL销售人员称，行业整体涨幅预计在5%至20%，但线下尚未全面执行，部分高端新品目前仅在线下铺货，线上暂未同步。海信电视一位经销商透露，因品牌自主研发芯片，这块成本减少了，线下涨价幅度不大。 4月1日，界面新闻询问美的、海尔、西门子等线上旗舰店，京东美的空调套装旗舰店客服表示，“今晚12点开始品牌方会严控价格，不允许赠品，不允许任何方式议价。”此举也意味着部分产品将变相涨价。海尔和西门子天猫与京东旗舰店的客服表示“目前还没有接到调价通知”。 另据九派财经报道，海信视像科技总裁李炜表示，存储芯片涨价其实是整个行业都会遇到的一个问题，但对电视行业来说，其认为影响是相对可控的。据其分析，从成本结构来看，存储在整机成本中的占比原来大概是3%到4%，涨价之后可能6%到7%左右。 据上海期货交易所数据，近期铜价突破9.5万元/吨，4月1日长江有色金属报价显示，铜价均价约9.7万元/吨，铝、塑料、原油同步走高。 界面新闻查阅得物App，相关数据显示，由于叠加屏幕、内存、芯片、石油等多种原材料价格上涨影响，部分电器市场成交价已上涨，其中电视机上涨价格领跑其他家电，涨幅约10%。得物App的统计数据显示，近3天，小米智能电视43英寸市场成交价由905元上涨至999元，上涨10%；海信小墨E5Q100英寸电视市场成交价由8119元上涨至8859元，上涨9%。 此外，空调、冰箱、洗衣机等白电价格主要和铜原料上涨相关，涨幅约5%。得物App的近3天交易价格显示，美的酷省电1.5P空调市场成交价由2123元上涨至2199元，上涨4%；海尔冰柜200L商家出价由789元上涨至819元，上涨4%；志高28L家用小冰箱市场成交价由322元上涨至339元，上涨5%。洗衣机价格上涨略高于冰箱，海尔滚动洗衣机10kg市场成交价由1106元上涨至1209元，上涨9%；志高波轮洗衣机10kg市场成交价由368元上涨至388元，上涨5%。 今年1月，格力电器曾在官方...

The broad stock market sell-off is giving investors an opportunity to buy the Roundhill Generative AI and Technology ETF at a discount.

Key PointsArtificial intelligence stocks have led the market's performance since early 2023.

The Silicon Phoenix: Advanced Micro Devices (AMD) and the Architecture of 2026 FinancialContent

Source: Bloomberg, 0:00

图片来源：界面新闻 全球软件巨头甲骨文（Oracle）于当地时间3月31日凌晨向员工群发邮件，宣布启动新一轮大规模裁员。 多名收到通知的员工在社交媒体上披露，甲骨文在通知邮件中措辞直白：“在认真评估甲骨文当前的业务需求后，我们决定取消您的职位，这是公司整体组织架构调整的一部分。因此，今天是您在公司的最后一个工作日。”邮件还告知员工在签署离职文件后将有资格获得遣散费。有在甲骨文工作四年的员工在社交媒体上表示，“对事情以这种方式结束感到非常失望”。 据受影响员工透露，甲骨文此次数千人的裁员涉及多个部门。有媒体报道称，此次裁员可能覆盖美国、印度、欧洲等多个市场，波及工程、云服务、技术支持等部门，预计受影响工作岗位最高或达到3万个，此次数千人裁员只是开始。根据甲骨文提交的10-K文件显示，截至2025年5月，甲骨文拥有16.2万名员工。 与亚马逊等云厂商一样，甲骨文近期加大了资本支出，用于推进AI基础设施建设。大规模的裁员也正是为了应对激增的AI资本支出。 在刚刚过去的季度财报电话会议上，甲骨文高层表示2026年目前没有进一步举债的计划。 当地时间3月10日，甲骨文公布2026财年第三财季业绩，期内总营收172亿美元，按美元计算增长22%，按固定汇率计算增长18%；云服务营收89亿美元，按美元计算增长44%，按固定汇率计算增长41%；软件营收61亿美元，按美元计算增长3%，按固定汇率计算下降1%。第三财季GAAP净利润为37亿美元，GAAP每股收益1.27美元。 甲骨文预计2026财年资本支出350亿美元，相较上一财年的250亿美元大幅增加，绝大部分用于服务器和网络设备，而非土地或建筑项目。为此甲骨文不得不更多依赖债务融资。2026年1月，甲骨文宣布计划通过债务和股权融资筹集约500亿美元资金。 甲骨文表示，预计其2026财年重组计划的总成本将高达21亿美元，其中大部分将用于员工遣散费和相关费用。 公司预计2027财年营收将达到900亿美元，较此前预期上调10亿美元，高于市场预期的866亿美元。 3月18日，据“甲骨文中国”微信公众号消息，甲骨文与英伟达扩展AI合作。双方在NVIDIA GTC 2026上宣布，在 Oracle Cloud Infrastructure（OCI）上扩展AI能力，帮助重新定义可扩展的AI性能，加速向量数据库操作，并通过云原生服务简化企业AI部署...

格隆汇4月1日丨美国总统特朗普抵达美国最高法院，出席出生地公民身份案的口头辩论。

Amazon.com and Cathie Wood's ARK Invest were among the backers for OpenAI's $122 billion funding round.

Key PointsSLVP charges a lower expense ratio than SLV and holds a diversified basket of silver mining stocks rather than the physical metal.

美股涨幅扩大，纳指涨超1%。

The company struggled with quality issues when Gravity production started last year, and the new recall shows it's not out of the woods yet.

Michael Derrer Fuchs/iStock Editorial via Getty Images I’ve been long International Business Machines ( IBM ) since 2018, and over that period I’ve watched this company undergo one of the most impressive transformations in big tech. Since my last article on IBM back in August 2025, a lot has happened. Shares have pulled back significantly from their 52-week highs, and the narrative around IBM has shifted from optimism about their AI and hybrid cloud pivot to fear about consulting disruption and macro headwinds. I think the market is getting this wrong, considering that IBM just posted its most profitable year since 2016 as they exceeded $10 billion in net income. In addition to breaking $10 billion in profitability, IBM closed a transformative acquisition and is guiding for continued growth, yet the market has continued to sell shares of IBM off. I am still bullish on IBM, and I think this retracement is creating an opportunity that patient investors will be rewarded for considering. IBM trades at less than 20 times earnings while paying a dividend yield that is close to 3%. Seeking Alpha Following up on my previous article about IBM Back in August I wrote an article about IBM ( can be read here ) where I discussed why IBM’s retracement was an opportunity for long-term investors considering that IBM had successfully transformed its business. I discussed why I was bullish on the Q2 2025 earnings results, IBM’s pivot toward hybrid cloud, AI, and software, the strategic value of acquisitions like Hakkoda and HashiCorp, and why I believed shares were undervalued. Since that article, IBM delivered a massive 2025 fiscal year, as their Q4 earnings results and the full-year numbers for 2025 exceeded expectations. Throughout Q1 2026, shares of IBM were punished due to a combination of AI disruption fears and tariff-related macro uncertainty. I think the sell-off has been overdone, and the setup heading into Q1 2026 earnings on April 22nd is compelling. Seeking Alpha What hap...