去年 10 月底开始,美股软件股经历了一场罕见的“集体误杀”。 以软件 ETF——IGV 为代表,整个软件板块一度从高位显著回撤,跌幅接近 40%。曾经被视为高质量成长资产的软件公司,突然变成了 AI 浪潮下的“旧世界遗产”。 恐慌的理由看起来非常充分: DeepSeek 用极低成本推出前沿大模型,让市场重新认识到模型能力的快速扩散; Anthropic 推出更成熟的 AI Agent 系统,让人...
去年 10 月底开始,美股软件股经历了一场罕见的“集体误杀”。 以软件 ETF——IGV 为代表,整个软件板块一度从高位显著回撤,跌幅接近 40%。曾经被视为高质量成长资产的软件公司,突然变成了 AI 浪潮下的“旧世界遗产”。 恐慌的理由看起来非常充分: DeepSeek 用极低成本推出前沿大模型,让市场重新认识到模型能力的快速扩散; Anthropic 推出更成熟的 AI Agent 系统,让人们第一次清晰看见: AI 不只是聊天工具,它正在进入法律审查、销售运营、客服处理、跨部门协作等真实企业流程。 与此同时,Cursor、GitHub Copilot 正在数百万程序员的屏幕上自动补全、重构和生成代码。一个看似顺理成章的结论随之出现: 如果 AI 可以写软件、跑流程、做客服、查数据,那么传统软件公司还有什么存在价值? 于是,市场给出了最直接的反应:卖出软件股,买入算力股。 英伟达、博通、云厂商成为 AI 叙事下最拥挤的交易,而许多软件公司则被贴上“即将被 AI 替代”的标签,遭遇无差别抛售。 在 RockFlow 投研团队看来,问题在于,这个结论太粗糙了。 它把“部分软件会被 AI 替代”,误读成了“所有软件都会被 AI 消灭”;把一个庞大、复杂、分层极深的软件生态,粗暴地压缩成了一个单一概念。 这正是当前市场最大的认知盲区。 AI 当然会改写软件行业。但它并不会让软件消亡。真正发生的,是软件世界正在发生一次残酷而深刻的物种分化。 一部分软件会被 AI 压缩,一部分软件会被 AI 放大。 一部分软件会失去收费理由,另一部分软件会成为 AI 时代新的收费站。 软件不会消亡,消亡的是旧定价逻辑 每一轮技术革命来临时,市场都喜欢讲“终结故事”。 互联网刚兴起时,有人说传统企业软件要完了。浏览器、网页、在线系统会彻底颠覆 ERP、CRM、IT 服务管理这些旧世界工具。 但后来发生了什么? 互联网不但没有消灭软件,反而孕育出了 Salesforce、ServiceNow、Workday、Snowflake 这一批现代 SaaS 巨头。 移动互联网到来时,也有人说 PC 软件要死。但结果是,新的应用形态、新的订阅模式、新的云服务生态,反而让软件行业进入了更大的黄金时代。 现在,AI 革命来了,市场再次讲出熟悉的故事: AI 会写代码,所以软件公司要死。 AI 会执行业务流程...
On Wednesday, Castro was charged alongside five others of involvement in the shooting down of two planes travelling between Cuba and Florida three decades ago, and was indicted with offences which carry penalties of life in prison or death.
On Wednesday, Castro was charged alongside five others of involvement in the shooting down of two planes travelling between Cuba and Florida three decades ago, and was indicted with offences which carry penalties of life in prison or death.
Selskabsmeddelelse nr. 29 / 2026 21. maj 2026 NewCap Holding A/S – Periodemeddelelse 1. kvartal 2026 / Interim announcement 1st quarter 2026 NewCap Holding A/S afgiver hermed periodemeddelelse for 1. kvartal 2026. Koncernen offentliggør ikke finansiel information som en del af periodemeddelelser. 1. kvartal 2026 har været en begivenhedsrig periode hvor flere byggeklodser er lagt i koncernens vækst...
Selskabsmeddelelse nr. 29 / 2026 21. maj 2026 NewCap Holding A/S – Periodemeddelelse 1. kvartal 2026 / Interim announcement 1st quarter 2026 NewCap Holding A/S afgiver hermed periodemeddelelse for 1. kvartal 2026. Koncernen offentliggør ikke finansiel information som en del af periodemeddelelser. 1. kvartal 2026 har været en begivenhedsrig periode hvor flere byggeklodser er lagt i koncernens vækststrategi. Udviklingen i koncernens aktiviteter Koncernen har i første kvartal 2026 realiseret en udvikling i tråd med de udmeldte forventninger for året med en omsætning for 2026 på DKK 11,5 – 13,5 mio. og et resultat før skat på DKK 2,5 – 5,0 mio., jf. årsregnskabet for 2025, offentliggjort i selskabsmeddelelse nr. 15 / 2026, herunder de beskrevne forudsætninger. Fokus i 1. kvartal 2026 har været på implementering af de erhvervede aktiviteter i NCI Advisory A/S, samt sondering og undersøgelser af muligheder for opkøb m.v. og udfoldelse af koncernens vækststrategi. Disse tiltag har bl.a. medført erhvervelse af complianceaktiviteterne, der drives under brandet Observatum, og som vil indgå i koncernens regnskabstal fra 1. maj 2026, jf. selskabsmeddelelse nr. 21 / 2026 af 24. april 2026, se i øvrigt omtale senere i denne meddelelse. NewCap Holding A/S ændrede som følge heraf forventninger til omsætningen for 2026 fra det ovenfor anførte til DKK 14,0 – 16,0 mio., mens forventningerne til årets resultat før skat fastholdes. Udviklingen i fonde administreret af NCI Advisory A/S Indtægter fra forvaltning af kapital er fortsat fundamentet for koncernens omsætning og indtjening. Aktiver under forvaltning har fulgt forventningerne og resultater i fondene administreret af koncernens 100% ejede datterselskab, NCI Advisory A/S, forventes for året at ligge på niveau med det historiske niveau på gennemsnitligt 10% per år. Forvaltningsresultatet for fonden Nordic Corporate Investment A/S udgjorde i første kvartal 6,1% og for NCI Credit Opportunity Fund A/S udgjorde denne 0,78%. Ved udgange...
从苏州到深圳,从成都到上海,一种名为OPC(One Person Company,一人公司)的创业范式正以前所未有的速度席卷全国。 数据为证:全国已涌现出超过700个OPC社区。其中,WeOPC平台聚集了超过45万OPC创业者和AI开发者。而今年3月,首届OPC创造者大会在北京举行,汇聚了来自30多个城市的近千名创业者,场面热烈得像一场独角兽公司的路演——只不过,每一家“公司”的体量,可能只有一个...
SoFi (NASDAQ: SOFI) recently reported strong first-quarter results throughout most of its business, but it wasn't a perfect quarter by any means. In this short video, I discuss the numbers, why the stock is reacting negatively, and much more. *Stock prices used were the morning prices of May 20, 2026. The video was published on May 21, 2026. Continue reading
SoFi (NASDAQ: SOFI) recently reported strong first-quarter results throughout most of its business, but it wasn't a perfect quarter by any means. In this short video, I discuss the numbers, why the stock is reacting negatively, and much more. *Stock prices used were the morning prices of May 20, 2026. The video was published on May 21, 2026. Continue reading
The Chinese Trinidadian actor Jacqueline Chan, who has died aged 91, became a regular on British television after making an impression in the 1960 film The World of Suzie Wong. As Gwennie Lee, she played one of the “Wan Chai girls” alongside Nancy Kwan in the starring role. Chan had already acted Lily, a similar but smaller part, for the first year of its London stage run at the Prince of Wales th...
The Chinese Trinidadian actor Jacqueline Chan, who has died aged 91, became a regular on British television after making an impression in the 1960 film The World of Suzie Wong. As Gwennie Lee, she played one of the “Wan Chai girls” alongside Nancy Kwan in the starring role. Chan had already acted Lily, a similar but smaller part, for the first year of its London stage run at the Prince of Wales theatre (1959-61) in the West End. In December 1959, she took over as the lead character, a Chinese sex worker in Hong Kong having a relationship with an English artist, after Tsai Chin, playing Suzie, fell ill with laryngitis. Two months later, Chan hit the headlines when Princess Margaret became engaged to the photographer Antony Armstrong-Jones (later Lord Snowdon). His pictures of Chan had been published around the world and, with news of the royal engagement, newspapers described her as his “good friend” and “favourite model”. In fact, she was an early girlfriend of the photographer. In 2017, their relationship was depicted in a graphic scene for the TV series The Crown, with Chan played by Alice Hewkin. View image in fullscreen Chan and William Holden in the screen version of The World of Suzie Wong in 1960. Photograph: Smith Archive/Alamy One of Armstrong-Jones’s first pictures of Chan, who met him through a friend in 1955, showed her turning the heads of soldiers in Venice. “I did quite a few modelling jobs for him – I wasn’t just his girlfriend,” Chan told me in 2024. “He quite liked my look.” She attended his wedding to Princess Margaret in 1960 – according to Chan, Armstrong-Jones arranged a car for her and she slipped through a side door into the abbey. Chan’s career continued as she took over The World of Suzie Wong lead role in the West End and repeated it on an Australian tour in 1961, when one critic noted: “Jacqui Chan, an artist of extraordinary talent, gives the part of Suzie Wong a delicate and moving dignity which deepens the play’s effect greatly.” Born ...
Shoe Carnival (SCVL) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.2 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +15.00%. A quarter ago, it was expected that this footwear retailer would post earnings of $0.33 per sha...
Shoe Carnival (SCVL) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.2 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +15.00%. A quarter ago, it was expected that this footwear retailer would post earnings of $0.33 per share when it actually produced earnings of $0.33, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Shoe Carnival, which belongs to the Zacks Retail - Apparel and Shoes industry, posted revenues of $270.73 million for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 1.55%. This compares to year-ago revenues of $277.71 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Shoe Carnival shares have lost about 6.6% since the beginning of the year versus the S&P 500's gain of 8.6%. What's Next for Shoe Carnival? While Shoe Carnival has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revi...
Alex Cristi /iStock via Getty Images Executive Summary • During the first quarter, Thrivent Short-Term Bond Fund underperformed the Bloomberg U. S. Government/Credit 1-3 Year Bond Index by 0.09%. The quarter was marked by elevated volatility relative to the second half of 2025, as the corporate market priced in potential economic dislocations due to AI, private credit, and geopolitical events. • T...
Alex Cristi /iStock via Getty Images Executive Summary • During the first quarter, Thrivent Short-Term Bond Fund underperformed the Bloomberg U. S. Government/Credit 1-3 Year Bond Index by 0.09%. The quarter was marked by elevated volatility relative to the second half of 2025, as the corporate market priced in potential economic dislocations due to AI, private credit, and geopolitical events. • The Federal Funds rate was held steady at 3.5-3.75%. The market is not projecting near-term cuts for the first time in a few years, due to potential for upward pressure on inflation from higher oil prices. • Spreads sold off during the quarter, particularly in corporates, offering better reinvestment opportunities. The securitized market remains focused on housing affordability and potential for heightened stress on the consumer, but so far has seen better performance than corporates to start the year. Performance factors Thrivent Short-Term Bond Fund underperformed the Bloomberg U. S. Government/Credit 1-3 Year Bond Index by 0.09% during the first quarter. This underperformance was largely attributable to an overweight to corporates as spreads widened on concerns that included the impact of AI, private credit exposure to software companies, and the potential impact of higher oil prices on the economy. During the quarter, we maintained our corporate exposure and reinvested maturities at more attractive levels. On the securitized side, our exposure to non-agency mortgages contributed positively due to higher carry and more stable spreads. Our longer duration relative to the Index hurt performance as rates sold off significantly over the quarter, with the 2-year Treasury yield rising 32 basis points to end at 3.80%. Over the 12-month period, the Fund outperformed the Bloomberg U. S. Government/Credit 1-3 Year Bond Index by 0.64%. The most significant driver of the Fund's outperformance was our significant overweight to risk assets, which offered higher carry over the time peri...