yujie chen/iStock Editorial via Getty Images In a time of luxury market weakness, one stock stands out. The New York based Tapestry ( TPR ), which houses brands like Coach and Kate Spade. While the S&P Global Luxury Index ( SPGLGUN ) hasn't budged in the past three years, the stock is up by over 200% then. The exceptional performance becomes even more glaring when its placement in the luxury pecki...
yujie chen/iStock Editorial via Getty Images In a time of luxury market weakness, one stock stands out. The New York based Tapestry ( TPR ), which houses brands like Coach and Kate Spade. While the S&P Global Luxury Index ( SPGLGUN ) hasn't budged in the past three years, the stock is up by over 200% then. The exceptional performance becomes even more glaring when its placement in the luxury pecking order is observed, as follows: TPR is the fifth biggest luxury fashion stock by market capitalisation. Of the remaining four, only the Swiss jeweller and watchmaker Compagnie Financière Richemont SA ( OTCPK:CFRUY ) has seen price growth over the past three years. And even CFRUY has only a small 18% rise since. The other three, LVMH ( OTCPK:LVMUY ), Hermès (OTCPK: HESAY ) and Kering (OTCPK: PPRUY ) have all seen pullbacks. When I first covered Tapestry, back in October 2022, the company's closest peers by market capitalisation were peers Prada ( OTCPK:LPRDSY ), Burberry ( OTCPK:BURBY ) and Capri Holdings (OTCPK: CPRI ). It has left them far behind now. With its ~4x increase in market capitalisation since, Prada, which was farthest ahead of Tapestry then, is now trading at less than half its market capitalisation. And this is when Prada hasn't done too badly itself in the interim. Price Returns (3y): TPR, SPGLGUN and SP500 (Source: Seeking Alpha) What's making the Tapestry stock tick? This begs the question - what's making the Tapestry stock tick? Its fundamentals, that's what. The company had it bad at the start of the luxury market slowdown in 2024, to be sure, with revenue contractions in the first three quarters of the calendar year. However, it managed to turn itself around impressively since. Since Q4 2024, it has seen not just YoY revenue growth, but its acceleration, making an impressive turnaround despite market conditions. Revenue growth accelerates In the latest quarter of Q1 2026, which is its Q3 FY26 (year ending June 2026), the company's revenue growth touche...
Baris-Ozer/iStock via Getty Images Early May data from PMIs The S&P Global PMI flash is the first major datapoint for the month that reflects the underlying macro situation. Based on the just-released PMIs for the US and the EU, stagflation is intensifying - and that reflects primarily the effects from the Iran war. Specifically, manufacturing input costs are spiking near the 2022 inflationary lev...
Baris-Ozer/iStock via Getty Images Early May data from PMIs The S&P Global PMI flash is the first major datapoint for the month that reflects the underlying macro situation. Based on the just-released PMIs for the US and the EU, stagflation is intensifying - and that reflects primarily the effects from the Iran war. Specifically, manufacturing input costs are spiking near the 2022 inflationary levels for the US and the EU. In the article title I say, "It's almost time to panic", and that's because at these levels the Fed should be getting concerned that it might already be behind curve - and thus, consider hiking immediately. At the same time, the service sector is starting to struggle as inflation is putting more pressure on consumers, which puts the US GDP at barely 1% annualized for the current quarter, with the EU GDP already below 0%. Thus, the early May data shows a spike in inflation and slowing growth - in other words, stagflation is intensifying. The US data The May S&P Global PMI Flash Composite for the US came in at 51.7, with PMI Manufacturing at 55.3, PMI Service at 50.9, so there is a strong divergence - services are very weak, while manufacturing is very strong. However, with the composite score at 51.7, the US GDP is estimated at around 1% annualized for the current quarter, as the chart below shows. US (S&P Global PMI May) This is how Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, summarized the report: The damaging economic impact from the war in the Middle East is becoming increasingly evident in the business surveys. The ‘flash’ PMI data for May recorded only modest growth of business activity as demand was again squeezed by a further spike in prices and jobs were cut as firms worried over rising costs and the economic outlook. Coming on the heels of a subdued April reading, the May PMI indicates that the economy will struggle to manage annualized GDP growth of much more than 1% in the second quarter. However, even ...
UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry Drawing down crude inventories at a record pace, with SPR releases doing the heavy lifting to cushion the Gulf supply shock, only delays the move higher in crude oil prices. Once those buffers are depleted, oil risks being violently repriced higher. That is why the Trump administration's race to secure a peace deal with Iran a...
UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry Drawing down crude inventories at a record pace, with SPR releases doing the heavy lifting to cushion the Gulf supply shock, only delays the move higher in crude oil prices. Once those buffers are depleted, oil risks being violently repriced higher. That is why the Trump administration's race to secure a peace deal with Iran and reopen the Hormuz chokepoint has taken on new urgency in recent weeks. The longer the critical waterway remains disrupted, the greater the risk that the oil shock will escalate from a market event to a financial crisis, with higher crude prices feeding directly into inflation, consumer stress, and broader recession risk. The message from the SPR crude data this week , the largest ever draw, is very clear: The Trump administration is buying time to get a deal done with Tehran. If Hormuz does not reopen soon, the market will eventually force demand destruction through much higher prices. UBS analyst Arend Kapteyn penned a note Friday morning titled "When The Oil Buffers Run Out." Kapteyn warned, "Oil prices can move much higher once inventories are depleted." He continued: This week saw the largest-ever drawdown in US oil inventories since records began in 1982 : commercial inventories and the SPR combined fell by 17.8mb. These stock draws help explain why—despite nearly three months of supply shortfalls from the Middle East—oil is still trading "only" around $105/bbl. Oil prices and volumes are linked by the price elasticity of demand. A simple relationship allows us to approximate price outcomes under different supply disruptions and degrees of demand destruction : The oil team estimates that the net supply loss via the Strait of Hormuz is around 9mb/d after SPR releases, equivalent to a ~9% disruption . At $105/bbl, this implies demand elasticity of roughly –0.2: a 1% increase in prices reduces demand by 0.2% (see chart). Without SPR releases, the supply shock would be ...
IBM (NYSE: IBM) surged 12.4% to close at $252.97 on May 21, 2026, after the Commerce Department announced $2.0 billion in quantum computing grants to nine companies. The headline? IBM secures $1 billion in government funding for a new quantum chip foundry called Anderon, with IBM matching the investment dollar-for-dollar. The stock’s reaction was swift and decisive. But does this quantum initiativ...
IBM (NYSE: IBM) surged 12.4% to close at $252.97 on May 21, 2026, after the Commerce Department announced $2.0 billion in quantum computing grants to nine companies. The headline? IBM secures $1 billion in government funding for a new quantum chip foundry called Anderon, with IBM matching the investment dollar-for-dollar. The stock’s reaction was swift and decisive. But does this quantum initiative actually fix what ails IBM? The honest answer is more complicated than the market’s jump suggests. What’s the quantum story really worth? Here’s what you need to know: IBM’s quantum roadmap promises quantum advantage (outperforming classical computers on real problems) by the end of 2026, with fault-tolerant systems by 2029. Bank of America analysts remain bullish, maintaining a Buy rating and raising their price target to $300, citing IBM’s robust free cash flow. That’s the optimistic view. The skeptical view? Gartner analysts have consistently warned against near-term hype, noting that while the technology is advancing, major commercial disruptions from quantum computing are unlikely to materialize until closer to 2030. Prediction markets across Manifold Markets show broad skepticism that quantum will deliver enterprise-ready breakthrough advantage by the end of 2026. Most experts describe commercial quantum applications as limited today. The consensus leans toward hype temporarily outpacing reality. This gap between IBM’s technical timeline and actual market readiness matters. The Anderon foundry represents a structural bet on quantum eventually becoming profitable, but “eventually” could mean 2030 or beyond. For now, quantum remains more promise than production. So what about the core business? This is where IBM’s story gets interesting and contradictory. IBM’s trailing 12-month revenue grew 9.7%, reaching $68.9 billion from $63 billion. That’s faster than the S&P 500’s 7.4% pace. Software specifically surged 11%, and recent quarterly revenue hit $15.9 billion, beatin...
Shares of Rigetti Computing (NASDAQ:RGTI), Quantum Computing Inc. (NASDAQ:QUBT), D-Wave Quantum (NYSE:QBTS), and IonQ (NYSE:IONQ) are extending Thursday’s sector rebound into a second straight session. In morning trading, RGTI shares are up 17%, QUBT shares are up 14%, QBTS shares are climbing 13%, and IONQ shares are rising 8%. It’s no longer a one-day bounce. ... Rigetti Surges 17%, Quantum Comp...
Shares of Rigetti Computing (NASDAQ:RGTI), Quantum Computing Inc. (NASDAQ:QUBT), D-Wave Quantum (NYSE:QBTS), and IonQ (NYSE:IONQ) are extending Thursday’s sector rebound into a second straight session. In morning trading, RGTI shares are up 17%, QUBT shares are up 14%, QBTS shares are climbing 13%, and IONQ shares are rising 8%. It’s no longer a one-day bounce. ... Rigetti Surges 17%, Quantum Computing Inc. Soars 14%, D-Wave Pops 13%, IonQ Rises 8%: The Quantum Bounce Becomes a Rally
00:06 Host It has been AI overload this week for investors from OpenAI reportedly nearing an IPO filing to SpaceX casually disclosing in its IPO that uh Anthropic pays it $1.25 billion monthly for AI compute. The news flow has been supportive of more enthusiasm on tech stocks. But the reality is that Nvidia's midweek earnings were the AI star of the week. The earnings delivered and so did the guid...
00:06 Host It has been AI overload this week for investors from OpenAI reportedly nearing an IPO filing to SpaceX casually disclosing in its IPO that uh Anthropic pays it $1.25 billion monthly for AI compute. The news flow has been supportive of more enthusiasm on tech stocks. But the reality is that Nvidia's midweek earnings were the AI star of the week. The earnings delivered and so did the guidance. The report made me think, again, which is the best chip stock to own. You have still Nvidia rocking and now doling out a fatter dividend. AMD is growing rapidly in the number two position and suddenly, Intel has one of the hottest stocks in the market after being left completely for dead in 2025. Government backing sure has its perks. Stay with me, Lee Munson and Inez for Jared Blikre. Uh, Lee, your choice. 00:57 Lee Munson Uh it's got to be Nvidia. Bottom line, they've got the whole stack. They've got Kuda, they've got the chips, they've got the entire ecosystem. Uh you know, it also has a forward multiple in the 20s. I think AMD is is your second play. I think CEO Lisa Su, she's basically offering hyperscalers a negotiating weapon against the dominance of Nvidia. And so I think if you're going to have a secondary name, my son who's 14 today, Happy birthday Weston, has been long and not wrong all all basically year in Nvidia up almost 100% or excuse me, AMD almost up 100%. I think Intel, I see the pop. I think it's amazing that Intel finally got moving after 25 years, but I don't trust the culture and I don't think AI is going to sit around for them to to do a turnaround in their reorg charts. And so I think you have to go with what has the dominance and what is the player that's going to convince customers, meaning AMD, that they can be a second competitor and make margin at scale. I think the whole thing about Nvidia is people are worried about their profit margins going away. When you have the whole stack like they do, I think it's going to be a fortress to make t...
00:06 Host It has been AI overload this week for investors from OpenAI reportedly nearing an IPO filing to SpaceX casually disclosing in its IPO that uh Anthropic pays it $1.25 billion monthly for AI compute. The news flow has been supportive of more enthusiasm on tech stocks. But the reality is that Nvidia's midweek earnings were the AI star of the week. The earnings delivered and so did the guid...
00:06 Host It has been AI overload this week for investors from OpenAI reportedly nearing an IPO filing to SpaceX casually disclosing in its IPO that uh Anthropic pays it $1.25 billion monthly for AI compute. The news flow has been supportive of more enthusiasm on tech stocks. But the reality is that Nvidia's midweek earnings were the AI star of the week. The earnings delivered and so did the guidance. The report made me think, again, which is the best chip stock to own. You have still Nvidia rocking and now doling out a fatter dividend. AMD is growing rapidly in the number two position and suddenly, Intel has one of the hottest stocks in the market after being left completely for dead in 2025. Government backing sure has its perks. Stay with me, Lee Munson and Inez for Jared Blikre. Uh, Lee, your choice. 00:57 Lee Munson Uh it's got to be Nvidia. Bottom line, they've got the whole stack. They've got Kuda, they've got the chips, they've got the entire ecosystem. Uh you know, it also has a forward multiple in the 20s. I think AMD is is your second play. I think CEO Lisa Su, she's basically offering hyperscalers a negotiating weapon against the dominance of Nvidia. And so I think if you're going to have a secondary name, my son who's 14 today, Happy birthday Weston, has been long and not wrong all all basically year in Nvidia up almost 100% or excuse me, AMD almost up 100%. I think Intel, I see the pop. I think it's amazing that Intel finally got moving after 25 years, but I don't trust the culture and I don't think AI is going to sit around for them to to do a turnaround in their reorg charts. And so I think you have to go with what has the dominance and what is the player that's going to convince customers, meaning AMD, that they can be a second competitor and make margin at scale. I think the whole thing about Nvidia is people are worried about their profit margins going away. When you have the whole stack like they do, I think it's going to be a fortress to make t...
Some investors are embracing the financial sector ahead of what they deem as an even more euphoric stretch of a new roaring 20s, whereas others believe a recession is imminent. The most direct way to bet on that sentiment would be to bet on something like the Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL). Financials are ... Should You Buy, Or Sell Fidelity’s MSCI Financials ETF (FNCL) Now?
Some investors are embracing the financial sector ahead of what they deem as an even more euphoric stretch of a new roaring 20s, whereas others believe a recession is imminent. The most direct way to bet on that sentiment would be to bet on something like the Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL). Financials are ... Should You Buy, Or Sell Fidelity’s MSCI Financials ETF (FNCL) Now?
Brixton House, London Paula Varjack’s kinetic play uses lip syncing and dance routines to show how prejudice turned a ‘wardrobe malfunction’ into a career disaster The year is 2004 and the Super Bowl halftime show is about to begin. What would later become known as “Nipplegate” – in which Justin Timberlake ripped part of Janet Jackson’s bodice, briefly exposing her right breast – will be broadcast...
Brixton House, London Paula Varjack’s kinetic play uses lip syncing and dance routines to show how prejudice turned a ‘wardrobe malfunction’ into a career disaster The year is 2004 and the Super Bowl halftime show is about to begin. What would later become known as “Nipplegate” – in which Justin Timberlake ripped part of Janet Jackson’s bodice, briefly exposing her right breast – will be broadcast to 70,000 spectators in the stadium and more than 140 million TV viewers. This one “wardrobe malfunction”, lasting just nine sixteenths of a second, will lead to Jackson being blacklisted from much of the music industry for years, sending her career into a spiral while Timberlake’s continued to thrive. Paula Varjack’s play interrogates the role that gender, race and age played in that fallout, while also serving as a loud and proud love letter to Jackson and her music. Initially inspired by a 2019 trip to Glastonbury, where Varjack saw Jackson perform and wondered why she had never played the festival before, the show highlights the injustice of a white, male-controlled and favoured music industry. Performed alongside fellow devisers Pauline Mayers, Julienne Doko, Chia Phoenix and BSL performer Vinessa Brant, the result is a kinetic multimedia analysis that uses lip syncing, killer dance routines, onscreen BSL by Cherie Gordon and puppetry to build their case. Directed by Emily Aboud, the production erupts with high-speed spirit. Continue reading...
Kevin Dietsch/Getty Images News Federal Reserve Governor Christopher Waller, who had pushed for a rate cut as recently as January, said on Friday that he can no longer rule out a rate hike "further down the road if inflation does not abate soon." That's because his focus has shifted to inflation rather than a weakening labor market, he said in a guest lecture a t the Centre for Central Banking in ...
Kevin Dietsch/Getty Images News Federal Reserve Governor Christopher Waller, who had pushed for a rate cut as recently as January, said on Friday that he can no longer rule out a rate hike "further down the road if inflation does not abate soon." That's because his focus has shifted to inflation rather than a weakening labor market, he said in a guest lecture a t the Centre for Central Banking in Frankfurt am Main, Germany. Inflation has stayed above the Fed's 2% goal for at least four years. Inflation is now the driving force for monetary policy, he said. The labor market appears to have stabilized in recent months, and the unemployment rate remains "fairly low and stable." While he initially hoped that the Middle East conflict would be quickly resolved and the Federal Open Market Committee could look through the effects on prices, "uncertainty over the conflict and how the energy shock will spread to other prices led me to support a pause in rate cuts at the FOMC's last meeting in April," Waller said. He also would now " support removing the ' easing bias' language in our policy statement to make it clear that a rate cut is no more likely in the future than a rate increase." That's not to say that he would expect a rate increase anytime soon. But neither is he expecting an imminent rate cut. "I am going to need to see improvement on inflation or a significant deterioration in the labor market before I would consider reducing the policy rate," he said in prepared text for the speech. "So, on net, my current policy position is to hold rates steady for the near term." "The next move, whether it is a hike or cut, will depend on the data," Waller said. "Removing the language about the extent and timing of additional adjustments would make this point clear." He does expect prices to eventually come down, but the key is whether long-term inflation expectations become unanchored. "We have been hit by multiple price shocks, starting with tariffs and followed by the current...
Marco Rubio’s moment has finally arrived. The outcome of the Trump administration’s efforts to exert “maximum pressure” on Cuba may topple the 67-year-old communist government in Havana and direct the future of the US’s sway over the western hemisphere. For Rubio, the son of Cuban immigrants who serves as both secretary of state and national security adviser, the US campaign marks his ascendancy i...
Marco Rubio’s moment has finally arrived. The outcome of the Trump administration’s efforts to exert “maximum pressure” on Cuba may topple the 67-year-old communist government in Havana and direct the future of the US’s sway over the western hemisphere. For Rubio, the son of Cuban immigrants who serves as both secretary of state and national security adviser, the US campaign marks his ascendancy in an administration where he has established himself as a trusted aide to Donald Trump and manoeuvred that position to advance a key goal: Washington’s right to assert its authority across Latin America. The campaign against Cuba’s government is the culmination of a personal pursuit spanning decades. In a video released on Cuban independence day this week, Rubio said in Spanish that a US embargo was not the reason for the country’s privations, telling Cubans that “currently, the only thing standing in the way of a better future are those who control your country”. “All roads have been leading to Cuba for [Rubio],” said a person who has known Rubio since his time as a local politician in south Florida. “He has wanted this for a long time and now he finally has the authority [to reach that goal].” The Trump administration has indicated that it is laying the groundwork to unseat Cuba’s government. “Other presidents have looked at this for 50, 60 years, doing something [about Cuba],” Trump told reporters in the Oval Office on Thursday. “And it looks like I’ll be the one that does it. So I would be happy to do it.” View image in fullscreen The USS Nimitz is in the southern Caribbean Sea as part of a military buildup meant as a show of force against the Cuban government. Photograph: Pilar Olivares/Reuters The US aircraft carrier Nimitz and its strike group arrived in the southern Caribbean Sea on Thursday as part of a military buildup meant as a show of force against the Cuban government. And the Trump administration has been building a case that Cuba represents a national securi...
China has moved to ease residency restrictions that prevent migrant workers from accessing social insurance where they work, in a sweeping effort to expand coverage and strengthen labour protections nationwide. The new measures were announced on Friday by the State Council, China’s cabinet. The move is part of China’s broader push to create a unified national market by removing barriers to the fre...
China has moved to ease residency restrictions that prevent migrant workers from accessing social insurance where they work, in a sweeping effort to expand coverage and strengthen labour protections nationwide. The new measures were announced on Friday by the State Council, China’s cabinet. The move is part of China’s broader push to create a unified national market by removing barriers to the free flow of capital and talent. Advertisement Under the new policy, workers can enrol in social insurance programmes in the cities where they are employed, regardless of their official hometown registration, or hukou. Authorities will also refine the mechanisms for transferring and continuing social insurance relationships across regions, a long-standing challenge for a highly mobile workforce. Advertisement It reflects China’s latest policy reform emphasis on achieving renhu fenli - or the “separation between place of residence and household registration”. According to census sample data released on Friday, China’s migrant population has surpassed 357 million. Historically, the hukou system locked migrant workers out of vital public services – like healthcare and public schooling – in the places where they lived and worked. In recent years, however, these rigid restrictions have been progressively relaxed.
Plug Power (NASDAQ:PLUG) is the headline darling again, with shares up 393.28% over the past year as retail traders pile back into the hydrogen narrative on tax-credit chatter and high-profile customer name-drops. But here’s what you should actually be watching. The Plug Power Math Still Does Not Work Strip away the story and the financials ... Forget Plug Power: 1 High-Yield Industrial Giant to B...
Plug Power (NASDAQ:PLUG) is the headline darling again, with shares up 393.28% over the past year as retail traders pile back into the hydrogen narrative on tax-credit chatter and high-profile customer name-drops. But here’s what you should actually be watching. The Plug Power Math Still Does Not Work Strip away the story and the financials ... Forget Plug Power: 1 High-Yield Industrial Giant to Buy Hand Over Fist
The company also outlines an elaborate dispute-resolution framework that channels many shareholder disputes into Texas courts, requires mandatory arbitration, permits jury-trial waivers, and imposes restrictions on class-action-style proceedings. Internal disputes generally cannot be brought as class actions, and shareholders are deemed to waive jury-trial rights. At the valuation levels discussed...
The company also outlines an elaborate dispute-resolution framework that channels many shareholder disputes into Texas courts, requires mandatory arbitration, permits jury-trial waivers, and imposes restrictions on class-action-style proceedings. Internal disputes generally cannot be brought as class actions, and shareholders are deemed to waive jury-trial rights. At the valuation levels discussed around the IPO, that threshold could translate into tens of billions of dollars worth of stock—effectively placing such actions beyond the reach of retail investors and many institutional funds. SpaceX’s bylaws will require a shareholder or group of shareholders to own at least 3% of the company’s outstanding common stock to institute or maintain a derivative lawsuit on behalf of the company. SpaceX also expects to qualify as a Nasdaq “controlled company,” allowing it to rely on exemptions from certain corporate governance requirements. The filing explicitly notes that Musk will serve as CEO, Chief Technical Officer and Chairman, while the dual-class structure concentrates voting control with Musk and other Class B holders, limiting the ability of Class A shareholders to influence corporate matters or director elections. Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast Public investors will receive Class A shares carrying one vote per share. Musk’s Class B shares will carry 10 votes per share. More importantly, Class B shareholders will retain the right to elect a majority of SpaceX’s board of directors regardless of the outcome of broader shareholder voting. Like Meta Platforms, Inc. and Alphabet Inc. before it, SpaceX will debut with a dual-class share structure. Buried within SpaceX’s sprawling S-1 filing is one of the most management-friendly governance structures to hit public markets in years—one that effectively asks investors to provide capital while leaving control firmly in Musk’s hands. Buying shares in Space Exploration Technologie...
Belarus' Sabalenka has been a leading voice in the discussions and recently said players will boycott a Grand Slam "at some point" over the dispute. The 28-year-old spent five minutes with the host broadcaster for an on-camera interview before a 10-minute news conference with written reporters. She ended the English-speaking portion of her news conference to allow time for questions from her natio...
Belarus' Sabalenka has been a leading voice in the discussions and recently said players will boycott a Grand Slam "at some point" over the dispute. The 28-year-old spent five minutes with the host broadcaster for an on-camera interview before a 10-minute news conference with written reporters. She ended the English-speaking portion of her news conference to allow time for questions from her nation's reporters. "I'm here to talk to you because I have respect for you guys," Sabalenka said. "We just wanted to make our point and we are united - 15 minutes is better than zero. "As I said a thousand times today, I have huge respect, but we know what's happening here, so thank you so much." Former world number one Djokovic did not participate because he was not part of the action or the discussions leading to it. "I haven't been part of the process, the conversation, the planning or decision-making so I can't comment on that," the 24-time major champion said. "But what I can do is reiterate my own position that I have always been on the players' side and tried to advocate for players' rights and better future for players. "We tend to forget how little the number of people that live from this sport is. I will never stop mentioning or talking about that."
In Brief Phone provider Trump Mobile has confirmed that it was exposing customers’ names, email addresses, mailing addresses, cell numbers, and order identifiers to the open internet. Chris Walker, a spokesperson for the Trump-branded phone maker, told TechCrunch that the company is investigating the exposure and has not found evidence that content or financial information spilled online. The comp...
In Brief Phone provider Trump Mobile has confirmed that it was exposing customers’ names, email addresses, mailing addresses, cell numbers, and order identifiers to the open internet. Chris Walker, a spokesperson for the Trump-branded phone maker, told TechCrunch that the company is investigating the exposure and has not found evidence that content or financial information spilled online. The company said there was no breach of Trump Mobile’s network, systems, or infrastructure. The spokesperson said that the exposure was linked to a third-party platform provider that supports “certain Trump Mobile operations.” Walker did not name the provider. The company’s admission came after reports earlier this week that Trump Mobile customers’ data was publicly accessible from the web. On Wednesday, two YouTubers who ordered Trump Mobile’s phone said a researcher alerted them that their personal information was exposed online. The YouTubers Coffeezilla and penguinz0 said they tried to alert Trump Mobile of the exposure after the researcher also tried but to no avail. Walker said Trump Mobile is evaluating whether it needs to notify customers of the exposure of their personal data.