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AegeanBlue/E+ via Getty Images Following the release of Global Ship Lease ( GSL ), we are back to comment on the company's financials. Here at the Lab, GSL remains a high-conviction long idea. In our previous analysis, we reported that GSL was poised to benefit from global trade disruptions and a tailwind from an asset-light strategy for its clients; however, after the Q1 call, management commenta...
AegeanBlue/E+ via Getty Images Following the release of Global Ship Lease ( GSL ), we are back to comment on the company's financials. Here at the Lab, GSL remains a high-conviction long idea. In our previous analysis, we reported that GSL was poised to benefit from global trade disruptions and a tailwind from an asset-light strategy for its clients; however, after the Q1 call, management commentary reflected a noticeable increase in confidence in execution and resilient operating trends. With an ongoing depressed valuation (despite being substantially de-risked at the balance sheet level), we remain buyers. Q1 Results Global Ship Lease reported Q1 sales of $198.1 million, with a 4% increase vs. last year. Consensus expectations had pointed to top-line sales at around $183–191 million for the quarter. GSL sales were backed by a contracted charter model and continued fleet utilization. Still related to the sales, the company benefited from the addition of three vessels. Going down to the P&L, GSL reported an adjusted EBITDA of $133.2 million, which was slightly below last year due to a non-cash $3 million increase in intangible amortization. On a positive note, the GSL utilization rate reached 98.2%, up from 93.7% in Q1 2025. The company continued to demonstrate a solid net income, reporting $92.2 million, representing an EPS of $2.56. Global Ship Lease Q1 Financials in a Snap Fig 1 Why are we positive? Firstly, the company is down by more than 5%. On estimates, GSL beats Wall Street analysts both in sales and EPS. Top-line sales were up 3.7% year over year, while IBES estimates were $2.46, compared to a $2.56 result. Additionally, the company increased its EPS from the prior quarter 's $2.32. The company reported another asset sale gain. This is not the first time we have reported upside in asset rotation. According to the press release , GSL entered into agreements to forward-sell three non-core ships for a total price of $52 million, resulting in a gain of $25 mil...
Oleksandr Usyk defends his WBC world title against Rico Verhoeven on Saturday in Egypt. The fight is unusual in location as in nature, with kickboxing world champion Verhoeven getting a title shot in just his second boxing fight - and first since 2014. The 37-year-old Dutchman is aiming to pull off arguably the biggest upset in the sport's history. Ukrainian Usyk, 39, is aiming to continue his nea...
Oleksandr Usyk defends his WBC world title against Rico Verhoeven on Saturday in Egypt. The fight is unusual in location as in nature, with kickboxing world champion Verhoeven getting a title shot in just his second boxing fight - and first since 2014. The 37-year-old Dutchman is aiming to pull off arguably the biggest upset in the sport's history. Ukrainian Usyk, 39, is aiming to continue his near 17-year winning streak. Will we see an underdog win for the ages or will Usyk's dominance continue? BBC Sport asks the boxing world for their predictions.
fatido/iStock via Getty Images Bitcoin ( BTC-USD ) recovered +11.8% m/m on a spot-led rally even as hashrate set its longest sustained drawdown. US public miners are pivoting to AI; sovereign miners are the natural successors. Please note that VanEck has exposure to bitcoin. Funding Rates Hold Tepidly Positive Bitcoin price action over the past 30 days stabilized after a deep prior-month drawdown,...
fatido/iStock via Getty Images Bitcoin ( BTC-USD ) recovered +11.8% m/m on a spot-led rally even as hashrate set its longest sustained drawdown. US public miners are pivoting to AI; sovereign miners are the natural successors. Please note that VanEck has exposure to bitcoin. Funding Rates Hold Tepidly Positive Bitcoin price action over the past 30 days stabilized after a deep prior-month drawdown, with the 30-day moving-average (MA) price recovering to ~$78,272 (+11.8% m/m) and the spot close on May 14 at $81,394. Despite the price recovery, perpetual-futures sentiment remains outright cautious. The 30-day moving average of the annualized basis has slipped to -0.45%, down from 1.27% a month ago and well below the 3.16% reading from a year ago. The current 30-day MA sits in the 15th percentile of all observations since November 2020. The 7-day moving average sits higher at 3.13%, a rebound from April's negative territory but still well short of levels typically associated with bullish positioning. Options Positioning: Hedging Unwinds as Vol Collapses to Historic Lows Bitcoin Put Premiums Collapsed -51% Month-Over-Month as Hedging Demand Unwound Source: VanEck Research, Glassnode as of 5/18/2026. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. The options complex rotated sharply over the last 30 days as hedging demand collapsed amid the price recovery. Put premiums paid dropped -51% m/m to $281.8M, while call buying fell a far more modest -8%. The Call/Put premium ratio swung from 0.82 last month to 1.54, signaling a decisive rotation out of downside protection and into upside positioning. Despite the move, the Call/Put ratio is arguably neutral and sits at only the 46th all-time percentile. Options open interest has remained flat as BTC recovered, confirming the rally is spot-driven rather than leveraged-options-driven. Total options OI grew +0.8% m/m to $33.0B and sits at the 18th pe...
J Studios/DigitalVision via Getty Images Executive Summary I've been in the markets for a while, and one thing I've learned through experience is that when the market becomes fixated on a story, it tends to push it almost to the point of exhaustion. The semiconductor market is a good example of this. The story line of semiconductors for the past nearly 2 years has been fairly straightforward. If A...
J Studios/DigitalVision via Getty Images Executive Summary I've been in the markets for a while, and one thing I've learned through experience is that when the market becomes fixated on a story, it tends to push it almost to the point of exhaustion. The semiconductor market is a good example of this. The story line of semiconductors for the past nearly 2 years has been fairly straightforward. If Artificial Intelligence (AI) is going to grow, it needs chips. For instance, it requires Graphics Processing Units (GPUs), Memory, Networking, Servers, Data Centers, Power Supplies, Cooling Systems etc. As long as there is a need for hardware to support AI, there will always be a need for the physical infrastructure needed to support it. You can’t build something without starting somewhere. I agree with this. First of all, I rode the wave, as I imagine many of you reading this analysis did. Investors were buying anything in this entire chain: Nvidia ( NVDA ), Broadcom ( AVGO ), Marvell ( MRVL ), Micron ( MU ), and Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) and companies providing power supplies, cooling systems, server technology, and other supporting technologies. The thesis was correct. This may have been one of the best investment theses of the past few years. However, the issue remains that markets rarely wait for one story to conclude before they begin to price-in the next. Markets move quickly. Often when the balance sheet data isn't yet clear, when most investors are still looking in the rearview mirror, and when the dominant narrative still seems unassailable. My concept is quite simple, and I began discussing it here on Seeking Alpha back in February 2026 : Semiconductors won the first major AI trade . However, the next big AI trade may go to software . That’s not because the chip cycle is ending or because AI will no longer require massive amounts of computing resources. There will continue to be a significant demand for graphics processing units (GPUs), me...
SpaceX launches its biggest, most beefed-up Starship yet on a test flight toggle caption Eric Gay/AP SpaceX launched its biggest, most powerful Starship yet on a test flight Friday, an upgraded version that NASA is counting on to land astronauts on the moon. The redesigned mega rocket made its debut two days after SpaceX CEO Elon Musk announced he's taking the company public. It blasted off from t...
SpaceX launches its biggest, most beefed-up Starship yet on a test flight toggle caption Eric Gay/AP SpaceX launched its biggest, most powerful Starship yet on a test flight Friday, an upgraded version that NASA is counting on to land astronauts on the moon. The redesigned mega rocket made its debut two days after SpaceX CEO Elon Musk announced he's taking the company public. It blasted off from the southern tip of Texas, carrying 20 mock Starlink satellites that were released midway through the hourlong spaceflight that stretched halfway around the world. The spacecraft reached its final destination — the Indian Ocean — despite some engine trouble, before erupting in flames upon impact. That last part was not unexpected, according to SpaceX. Musk called it "an epic" launch and landing. Sponsor Message "You scored a goal for humanity," he told his team via X. It's the 12th test flight of the rocket that Musk is building to get people to Mars one day. But first comes the moon and NASA's Artemis program. NASA Administrator Jared Isaacman flew in for the launch, saying Starship is now one step closer to the moon. The last of the old space-skimming Starships lifted off in October. SpaceX's third-generation Starship — a souped-up version dubbed V3 — soared from a brand-new launch pad at Starbase, near the Mexican border. Last-minute pad issues thwarted Thursday evening's launch attempt. toggle caption Eric Gay/AP SpaceX was hoping to avoid the fireworks it experienced during back-to-back launches last year when midair explosions rained wreckage down on the Atlantic. Earlier flights also ended in flames. There was no fireball this time until the very end. The spacecraft plummeted upright into the Indian Ocean under seemingly full control, then toppled over and ignited. While the liftoff itself went well, not all of the engines fired as the booster attempted a controlled return. The spacecraft also had to make do with fewer engines, but kept heading eastward 120 miles (194...
Sergii Zhmurchak/iStock via Getty Images Investment Thesis I believe Linamar ( LIMAF ) is a well-managed long-term compounder led by an owner-operator with skin in the game. With a prudent balance sheet and counter-cyclical capital allocation, I believe Linamar will successfully sail through economic cycles, compounding earnings at a bit north of 10%/year like it did over the last two decades. Nev...
Sergii Zhmurchak/iStock via Getty Images Investment Thesis I believe Linamar ( LIMAF ) is a well-managed long-term compounder led by an owner-operator with skin in the game. With a prudent balance sheet and counter-cyclical capital allocation, I believe Linamar will successfully sail through economic cycles, compounding earnings at a bit north of 10%/year like it did over the last two decades. Nevertheless, given the recent run-up along with tariff uncertainties, Linamar is probably a hold at the moment for investors who want to buy assets with a margin of safety. Introduction of Linamar Linamar provides precision-engineered manufacturing solutions across mobility, access, and agricultural industries. In 1957, the founder of Linamar, Frank Hasenfratz, escaped from Hungary and arrived in Canada as a refugee. He was an outstanding machine shop operator and noticed there were severe engineering flaws in Ford Motor's fuel pumps and made better products as a substitute, winning contracts from Ford. He later named his company Linamar as a combination of Linda (first daughter), Nancy (second daughter), and Margaret (wife). Mobility is currently about 75% of the company's total revenue. Linamar manufactures engine block, transmission assembly, high precision drivetrain components, electric-drive axles, lightweight chassis, and giga-cast structural components. This is where Linamar started, and usually the segment has a lower multiple given the strong cyclicality, continuously downward pricing pressure, and high customer concentration. The latest annual report notes the segment has a limited number of customers that individually account for more than 10% of its consolidated revenues or receivables at any given time. Industrial serves as the remaining 25% of the company's revenue. It consists of Skyjack, which is an aerial work platform (AWP) famous for its scissor lifts, as well as Linamar Agriculture, encompassing brands such as MacDon (combine draper heads), Salford (verti...
NVIDIA (NASDAQ:NVDA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday. Several other equities analysts have also commented on NVDA. Evercore reaffirmed an "outperform" rating and set a $413.00 target price (up from $352.00) on shares of NVIDIA in a report on Thursday. The Goldman Sachs Group reaffirmed...
NVIDIA (NASDAQ:NVDA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday. Several other equities analysts have also commented on NVDA. Evercore reaffirmed an "outperform" rating and set a $413.00 target price (up from $352.00) on shares of NVIDIA in a report on Thursday. The Goldman Sachs Group reaffirmed a "buy" rating and set a $285.00 target price (up from $250.00) on shares of NVIDIA in a report on Wednesday. Citic Securities upped their target price on NVIDIA from $242.00 to $315.00 and gave the company a "buy" rating in a report on Friday. Wedbush upped their target price on NVIDIA from $300.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Barclays reaffirmed an "overweight" rating on shares of NVIDIA in a report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $303.27. Get NVIDIA alerts: Sign Up Get Our Latest Report on NVDA NVIDIA Stock Performance Shares of NVDA stock opened at $215.33 on Friday. The company has a market cap of $5.21 trillion, a P/E ratio of 32.98, a PEG ratio of 0.68 and a beta of 2.25. The business has a 50 day moving average of $196.10 and a two-hundred day moving average of $189.06. NVIDIA has a 52 week low of $129.16 and a 52 week high of $236.54. The company has a quick ratio of 3.24, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, beating the consensus estimate of $1.76 by $0.11. The company had revenue of $81.62 billion during the quarter, compared to analyst estimates of $78.42 billion...
"Reporters learned from the scene of the gas explosion at the Liushenyu Coal Mine of the Tongzhou Group in Shanxi Province that the accident has resulted in 82 deaths," state news agency Xinhua said.
"Reporters learned from the scene of the gas explosion at the Liushenyu Coal Mine of the Tongzhou Group in Shanxi Province that the accident has resulted in 82 deaths," state news agency Xinhua said.
神舟二十三|孫東深信港青年未來機會多 鼓勵投身航天:第二、第三位宇航員日子不遠 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】抵達酒泉的創新科技及工業局局長孫東說,會加大力度在創科發展,特別在航天相關領域,相信香...
神舟二十三|孫東深信港青年未來機會多 鼓勵投身航天:第二、第三位宇航員日子不遠 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】抵達酒泉的創新科技及工業局局長孫東說,會加大力度在創科發展,特別在航天相關領域,相信香港年輕人未來充滿機會,甚至可以有更多人參與國家太空任務。 孫東:「隨著國家航天事業不斷進步,香港青年、科學家會有更多的機會。對於香港來說,我們能做的,第一、我們繼續在科研特別在航空、航天科技方面,我們要繼續進步;第二、我們要繼續培養一大批熱愛航天事業、願意為航天事業奮鬥的一批青年;同時香港要加快建設國際創新科技中心,讓國家對香港科技力量有更深刻的認識,更充足的信心。我相信香港第二、第三位宇航員的日期不會太遙遠。」
Two Weeks in August 9pm, BBC One Group holidays are rarely a success. But spare a thought for people-pleaser Zoe (Jessica Raine) and down-on-his-luck Dan (Damien Malony), skint and recovering from a taboo family trauma, as they set off for a pricey week in Greece with their old uni friends. But what better way to put everyone at ease on the first night than a dodgy fish supper followed by some hal...
Two Weeks in August 9pm, BBC One Group holidays are rarely a success. But spare a thought for people-pleaser Zoe (Jessica Raine) and down-on-his-luck Dan (Damien Malony), skint and recovering from a taboo family trauma, as they set off for a pricey week in Greece with their old uni friends. But what better way to put everyone at ease on the first night than a dodgy fish supper followed by some hallucinogenic mushrooms? Leila Farzad, Dolly Wells and Hugh Skinner also star in this twisty, trippy, sun-soaked drama. Hollie Richardson Bullseye for Soccer Aid 5.55pm, ITV1 Expect a lot of Soccer Aid content in the run-up to the charity football game’s 20th year, starting with this starry edition of the classic darts gameshow. Freddie Flintoff is back as host, with Kym Marsh and her sister-in-law Claire, Jon Richardson and Angela Barnes, and Olly Murs and Mark Wright taking their shots under score-keeper Richard Ashdown’s judging eye. HR World’s Most Secret Hotels 8pm, Channel 4 A final roundup of global hotels in this Julie Walters-narrated series. In East Lothian, Scotland, the Bus Stop is a glamping spot with a twist: guests can sleep in the nine luxury buses. Over in Arizona, Castle Hot Springs can be found 11km down a dirt road near the Bradshaw Mountains thermal waters. HR Cher at the BBC 9pm, BBC Two Happy 80th birthday, Cher! To celebrate, the BBC is turning back time with clips of fabulous performances and chatshow moments. She is the only artist to have US Billboard No 1s in every decade between the 1960s and 2010s, with hits such as I Got You Babe, Walking in Memphis, Strong Enough and Believe. HR Nobody’s Fool 9pm, ITV1 View image in fullscreen Rivals … Danny Dyer and Emily Atack in Nobody’s Fool on ITV1. Photograph: Matt Frost/ITV First impressions are everything in this new quiz presented by Danny Dyer and Emily Atack, where 10 contestants arrive at a manor and compete to see which of them can appear to be the most intelligent – with a £100,000 prize up for gr...
Investing.com -- Zoom Video Communications Inc (NASDAQ:ZM) has secured a financial return exceeding $1 billion from its early backing of artificial intelligence startup Anthropic, according to a regulatory filing made on Friday that was originally reported by Bloomberg. The value of Zoom’s initial investment of approximately $51 million, executed in May 2023 through its Zoom Ventures arm, has reac...
Investing.com -- Zoom Video Communications Inc (NASDAQ:ZM) has secured a financial return exceeding $1 billion from its early backing of artificial intelligence startup Anthropic, according to a regulatory filing made on Friday that was originally reported by Bloomberg. The value of Zoom’s initial investment of approximately $51 million, executed in May 2023 through its Zoom Ventures arm, has reached nearly $1.3 billion. The strategic stake was originally positioned to integrate Anthropic’s Claude large language models into Zoom’s federated AI architecture. The valuation of this minority holding stands to expand further as Anthropic prepares to finalize a new funding round as early as next week. Bloomberg reports that Anthropic is seeking to raise up to $30 billion at a total company valuation of $900 billion, with Sequoia Capital, Dragoneer Investment Group, Altimeter Capital, and Greenoaks Capital Partners expected to co-lead the round with $2 billion contributions each. Existing backers, including Founders Fund and General Catalyst, are also slated to participate. Anthropic CEO Dario Amodei recently stated the startup experienced an 80-fold growth in usage and annualized revenue during the first quarter, driving aggressive efforts to acquire more computing power. The windfall coincides with Zoom’s strong first-quarter financial results released after-hours on Thursday, which exceeded consensus expectations. Zoom reported first-quarter revenue of $1.24 billion, representing a 5.5% increase year-over-year, while adjusted earnings climbed to $1.55 per share against $1.43 per share in the prior-year period. Following the upbeat performance, Zoom management upwardly revised its full-year guidance, projecting adjusted earnings between $5.96 and $6.00 per share on total revenues ranging from $5.08 billion to $5.09 billion. The enterprise software provider also authorized a new $1 billion share buyback program. In response to the earnings beat and the appreciating Anthro...
Trump administration to force foreigners in the U.S. to apply for a green card abroad toggle caption Wilfredo Lee/AP WASHINGTON — Foreigners in the U.S. who want a green card will need to leave and apply in their home country, the Trump administration announced Friday, in a surprise change to a longstanding policy that sowed confusion and concern among aid groups, immigration lawyers and immigrant...
Trump administration to force foreigners in the U.S. to apply for a green card abroad toggle caption Wilfredo Lee/AP WASHINGTON — Foreigners in the U.S. who want a green card will need to leave and apply in their home country, the Trump administration announced Friday, in a surprise change to a longstanding policy that sowed confusion and concern among aid groups, immigration lawyers and immigrants. For over half a century, foreign nationals with legal status have been able to apply for and complete the entire process for permanent residence in the United States — including individuals married to U.S. citizens, holders of work and student visas, and refugees and political asylum seekers, among others. The announcement from U.S. Citizenship and Immigration Services said foreigners who are in the U.S. temporarily and who want to apply to become lawful permanent residents, or green card holders, have to return home and apply there, except in "extraordinary circumstances." USCIS officers would decide whether applicants meet those. Sponsor Message "Nonimmigrants, like students, temporary workers, or people on tourist visas, come to the U.S. for a short time and for a specific purpose. Our system is designed for them to leave when their visit is over. Their visit should not function as the first step in the Green Card process," the agency said in a statement. It is the latest step by the Trump administration making legal immigration more difficult for foreigners already in the U.S. and for those hoping to come here. Hundreds of thousands apply for green cards from the U.S. each year "The goal of this policy is very explicit. Senior officials in this administration have said over and over that they want fewer people to get permanent residency because permanent residency is a path to citizenship and they want to block that path for as many people as possible," said Doug Rand, a former senior advisor at USCIS during the Biden administration, who added that about 600,000 peop...