Delivery Hero SE ’s biggest shareholder Prosus NV is considering selling a roughly 10% stake to Aspex Management , the delivery food company’s No. 2 holder, people familiar with the matter said, a move that would heap pressure on management to push ahead with asset sales. Prosus has held initial talks with Hong Kong-based Aspex on the potential deal, which could more than double Aspex’s stake in D...
Delivery Hero SE ’s biggest shareholder Prosus NV is considering selling a roughly 10% stake to Aspex Management , the delivery food company’s No. 2 holder, people familiar with the matter said, a move that would heap pressure on management to push ahead with asset sales. Prosus has held initial talks with Hong Kong-based Aspex on the potential deal, which could more than double Aspex’s stake in Delivery Hero to about 19%, from the current 9.2%, said the people. If it goes ahead, Aspex will replace Prosus, which has a 26.8% stake, as the largest shareholder of the Frankfurt-listed company. Aspex has been threatening to try and replace Delivery Hero’s management if it doesn’t push ahead with the sale of certain assets, Bloomberg News reported in March. While the sale of Delivery Hero shares to public market investors would reduce the likelihood of a full take private offer from others, it would put further pressure on the Chief Executive Executive Niklas Östberg to sell more units. For Prosus, a deal could help it comply with European Commission antitrust requirements as it has to reduce its stake to below 5% by August, some of the people said, asking not to be identified as the information is private. Prosus last year acquired Just Eat Takeaway.com , which has a European footprint similar to Delivery Hero’s. Read More: Just Eat Founder Steps Down as CEO After Prosus Acquisition Deliberations are ongoing and there’s no guarantee a deal could happen, the people said. Prosus could also explore other options to sell or trim its stake including through more block trades or selling to other private equity firms or strategic buyers, they added. Representatives for Prosus and Aspex declined to comment.
Cathie Wood is doing some spring cleaning. The co-founder and CEO of Ark Invest lightened her stakes in more than three dozen stocks across her ETF family's holdings on Thursday. It was her busiest day of selling -- in terms of the number of companies she unloaded -- in months. Some of the more intriguing names on that list of positions are Netflix (NASDAQ: NFLX) , Broadcom (NASDAQ: AVGO) , and Ad...
Cathie Wood is doing some spring cleaning. The co-founder and CEO of Ark Invest lightened her stakes in more than three dozen stocks across her ETF family's holdings on Thursday. It was her busiest day of selling -- in terms of the number of companies she unloaded -- in months. Some of the more intriguing names on that list of positions are Netflix (NASDAQ: NFLX) , Broadcom (NASDAQ: AVGO) , and Advanced Micro Devices (NASDAQ: AMD) . In stark contrast, she only added to one stock: oncology and hereditary testing products specialist Tempus AI . I often spend time looking at her purchases, but this time I want to focus on her Thursday selling spree. Image source: Getty Images. Continue reading
Trinity Capital ( TRIN ) announced on Friday the commitment of $50M in growth capital to Sage Health, a full-risk primary care and wellness provider serving Medicare-eligible seniors. The additional capital will work to support Sage's continued investment in its senior-focused care platform and geographic expansion into new medically underserved markets, the company said. It added that Trinity's $...
Trinity Capital ( TRIN ) announced on Friday the commitment of $50M in growth capital to Sage Health, a full-risk primary care and wellness provider serving Medicare-eligible seniors. The additional capital will work to support Sage's continued investment in its senior-focused care platform and geographic expansion into new medically underserved markets, the company said. It added that Trinity's $50 million debt term loan, together with the company's prior financings, brings Sage Health's total capital raised to $170 million to date. TRIN -0.089% premarket to $14.517. Source: Press Release More on Trinity Capital Trinity Capital: BDC Turning Asset Manager Provides Strong Yield And Better Value Trinity Capital: Strong Investment Setup (Rating Upgrade) Trinity Capital: Not Your Typical 13%+ Yielding BDC Trinity Capital provides $35M in growth capital to Monteris Medical Trinity Capital commits $20 million in growth capital to Emboline
Carnival press release ( CCL ): Q1 Non-GAAP EPS of $0.20 beats by $0.02 . Revenue of $6.17B (+6.2% Y/Y) beats by $30M . For the full year 2026, the company expects: Net yields (in constant currency) up approximately 2.75 percent compared to record 2025 levels and 0.25 percentage points better than December guidance. Net yields (in constant currency) up approximately 3.25 percent after normalizing ...
Carnival press release ( CCL ): Q1 Non-GAAP EPS of $0.20 beats by $0.02 . Revenue of $6.17B (+6.2% Y/Y) beats by $30M . For the full year 2026, the company expects: Net yields (in constant currency) up approximately 2.75 percent compared to record 2025 levels and 0.25 percentage points better than December guidance. Net yields (in constant currency) up approximately 3.25 percent after normalizing for the impact of the summer 2025 close-in decision to redeploy away from the previously planned first quarter 2026 Arabian Gulf voyages and the impacts of loyalty program accounting for Carnival Cruise Line. Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 3.1 percent compared to 2025 and better than December guidance. Adjusted cruise costs excluding fuel per ALBD (in constant currency) up approximately 2.3 percent after normalizing for the partial year of operating expenses from Celebration Key, Grand Bahama and RelaxAway, Half Moon Cay as well as the timing of certain expenses between the years. Operational improvement of nearly $150 million in adjusted net income compared to December guidance, driven by improvements in both net yields and adjusted cruise costs excluding fuel per ALBD, which partially mitigates the impact from recent changes in fuel prices of more than $500 million. The company's guidance reflects the purchased price of fuel for the month of March and early April, Brent averaging $90 per barrel for the remainder of April and May, Brent averaging $85 per barrel for the third quarter, and Brent averaging $80 for the fourth quarter. Shares -2.7% PM. More on Carnival Carnival: War And Fuel Costs Ahead Of Earnings Carnival: Why I'm Doubling Down Despite Unhedged Fuel Risk Carnival Corporation: A Low-Risk, Dividend-Yielding 'Buy' For Income Investors Carnival faces fuel cost headwinds ahead of Q1 results Cruise stocks buoyed by lower fuel costs
Democratic Senator Elizabeth Warren and Republican Senator Josh Hawley are urging the US’s central energy information agency to provide better information on how much electricity data centers actually use. In a joint letter sent to the Energy Information Administration Thursday morning, seen by WIRED, Hawley and Warren press the agency to publicly collect “comprehensive, annual energy-use disclosu...
Democratic Senator Elizabeth Warren and Republican Senator Josh Hawley are urging the US’s central energy information agency to provide better information on how much electricity data centers actually use. In a joint letter sent to the Energy Information Administration Thursday morning, seen by WIRED, Hawley and Warren press the agency to publicly collect “comprehensive, annual energy-use disclosures” on data centers. This information, they write, is “essential for accurate grid planning and will support policymaking to prevent large companies from increasing electricity costs for American families.” As the data center boom spreads across the country, there have been widespread worries from voters about how their massive energy needs may increase consumers’ electric bills; this concern helped shape some midterm elections in data-center-heavy states, including Virginia and Georgia. Last month, Hawley cosponsored a bill with Democratic Senator Richard Blumenthal that would require data centers to supply their own power sources in order to protect consumers. Earlier this month, Donald Trump convened a group of executives from Big Tech companies at the White House to sign a nonbinding (and toothless) agreement pledging to pay for their own power for data centers. Read full article Comments
Tech stocks are poised to rebound after hitting deeply oversold levels early in 2026. Analysts and institutional trends align; double-digit upside is ahead.
Tech stocks are poised to rebound after hitting deeply oversold levels early in 2026. Analysts and institutional trends align; double-digit upside is ahead.
John M Lund Photography Inc/DigitalVision via Getty Images The current bear case for BDCs revolves around cockroaches, the SaaSpocalypse, and soaring defaults. The liquidity gating from the largest private credit managers, such as Blue Owl Capital ( OWL ), BlackRock ( BLK ), and now Ares Management ( ARES ), is what helps the bear case keep boiling. However, as I have articulated in several of my ...
John M Lund Photography Inc/DigitalVision via Getty Images The current bear case for BDCs revolves around cockroaches, the SaaSpocalypse, and soaring defaults. The liquidity gating from the largest private credit managers, such as Blue Owl Capital ( OWL ), BlackRock ( BLK ), and now Ares Management ( ARES ), is what helps the bear case keep boiling. However, as I have articulated in several of my previous BDC macro-level articles (e.g., Cockroaches, SaaSpocalypse, And Now 'GFC 2.0' and Stop Panicking And Start Buying BDCs ), there is no evidence that would even come close to justifying the current BDC discounts . In a nutshell: Cockroaches—First Brands and Tricolor—had nothing to do with direct lending but with the broadly syndicated loan market. BDC non-accruals and PIK levels remain very low and exhibit no signs of material deterioration. Not all BDCs carry ~20% SaaS portfolio exposures, and most SaaS loans are senior secured first lien with loan-to-value below 50% or below. Liquidity gating is a fully logical step given private credit's liquidity profile (just as for private real estate, infrastructure projects, etc.). Plus, it is only logical that investors sell private BDCs at or close to NAV (because that is what is offered by the managers) if they see publicly traded BDCs trading at ~30% below NAV. A wonderful arbitrage—sell high, buy low. Trust me, I could make this list much longer, but debunking BDC bear myths is not my intention here (for that I suggest exploring the two articles I referenced above). Instead, my goal of this piece is to do the opposite. What I would like to do is to provide a nuanced and potentially deadly weapon that could be used by the BDC bears to keep the headlines hot. It is also the main risk, which makes me extra careful pertaining to where and in what BDCs I deploy my capital. The risk In essence, the end result of this key risk materializing is higher default rates, leading to NAV destruction and dividend cuts. Here is a 4-step ...
MicroStockHub/iStock via Getty Images If you're looking for high-yield fixed-income exposure, there are various closed-end funds, "CEFs" that cover that beat. The Credit Suisse Asset Management Income Fund ( CIK ) has been around since 1987. Although it's one of the smaller debt CEFs, it's in the top 35 for average daily volume, which is 354K. Fund Profile CIK "seeks current income consistent with...
MicroStockHub/iStock via Getty Images If you're looking for high-yield fixed-income exposure, there are various closed-end funds, "CEFs" that cover that beat. The Credit Suisse Asset Management Income Fund ( CIK ) has been around since 1987. Although it's one of the smaller debt CEFs, it's in the top 35 for average daily volume, which is 354K. Fund Profile CIK "seeks current income consistent with the preservation of capital by investing primarily in fixed-income securities. Under normal circumstances, the Fund will invest at least 75% of its total assets in fixed-income securities, such as bonds, debentures, and preferred stock. Most of the portfolio is invested in U.S. high-yield corporate debt, with some exposure to sovereign or corporate debt of developing nations." (CIK site) As of 2/28/26, CIK had 244 holdings. Leverage was 35.24%, so the expense ratio of 3.70% includes 2.05% in interest expense. Hidden Dividend Stocks Plus Holdings As of 2/28/26, high-yield bonds formed ~80% of the portfolio, followed by senior loans at 12.8% and asset-backed securities at 3.8%. The biggest regional exposure is the US and Canada, at ~90%, with Europe at ~10%. CIK CIK's top 3 industry exposures are basic industry, tech & electronics, and capital goods, all above 12%. The next tier includes leisure, services, and energy, running from ~8% to ~9%. The final tier is insurance, financial services, consumer goods, and asset-backed, running from 4.4% to ~5%. CIK ~96% of the holdings are rated non-investment grade, and 1.14% are unrated. CIK 3-5 year maturities are the biggest tranche, at 30.3%, followed by 5-7 years, at 27.40%; 1-3 years, at 20.7%; 7-10 years, at 15.94%; and 10-15 years, at 2%. The average maturity is 4.95 years, with a modified duration of 2.35. CIK CIK's top 10 holdings comprised just 11.09% of the portfolio as of 2/28/26, ranging from 1.02% for Cloud Software Group, the smallest position, to 1.32% for the largest position, Mauser Packaging: CIK Dividends CIK had p...
Gumpanat/iStock via Getty Images The Federal Reserve As the central bank of the United States, the Federal Reserve is responsible for promoting the health and stability of the U.S. economy and financial system. Its key functions are to conduct the nation's monetary policy, minimize systemic risk, regulate the safety and soundness of our banks, and ensure the efficiency of our settlement system. Si...
Gumpanat/iStock via Getty Images The Federal Reserve As the central bank of the United States, the Federal Reserve is responsible for promoting the health and stability of the U.S. economy and financial system. Its key functions are to conduct the nation's monetary policy, minimize systemic risk, regulate the safety and soundness of our banks, and ensure the efficiency of our settlement system. Since the U.S. dollar is the primary reserve currency, the Fed's decisions on interest rates and money supply directly influence borrowing costs, exchange rates, and financial stability around the globe. It has been the leader of all central banks during times of crisis. In short, the Fed is the most powerful financial institution in the world. Investors focus on the Fed's words and actions to glean insight and gain confidence about how the financial markets will perform. It is paradoxical that, in its just-released 2025 Financial Statements, the Fed reported a third straight year of losses. Fed's Annual Losses The Fed's annual loss from operations was recorded as -$18.8 billion, a significant improvement from the loss of -$77.6 billion in 2024 and the record loss of -$114.3 billion in 2023. Federal Reserve Cumulatively, the Fed has lost -$210.7 billion over the past three years. Why The Fed Is Losing Money The Fed has been losing money because when they implemented their Quantitative Easing (QE) Program in 2009, they deviated from historical precedent and purchased long-term fixed rate assets. These bonds were funded with variable-rate short-term liabilities, creating an asset-liability mismatch. As will be discussed in more detail later, the asset/liability mismatch exposed the Fed to the risk of rising interest rates. We are now seeing the effects of that risk being realized. Evolution Of The Fed The Fed began operations in November 1914. Over its 111-year history, the way the Fed manages monetary policy has evolved with the changing times. The Fed's view on owning assets ...
Nicolae Popescu/iStock via Getty Images Meta Platforms, Inc. ( META ) fell around 8% on Thursday as the market priced in yet another legal headwind coming the company’s way. A Los Angeles jury has found Meta and Alphabet/Google's ( GOOG ) YouTube liable in a landmark social media addiction case, ruling that both companies failed to adequately warn users about the risks of their platforms. Google w...
Nicolae Popescu/iStock via Getty Images Meta Platforms, Inc. ( META ) fell around 8% on Thursday as the market priced in yet another legal headwind coming the company’s way. A Los Angeles jury has found Meta and Alphabet/Google's ( GOOG ) YouTube liable in a landmark social media addiction case, ruling that both companies failed to adequately warn users about the risks of their platforms. Google was also down another 3% on the news, and the selloff is continuing into premarket trading on Friday, with Meta down 0.6% and Google down another 0.4%. The plaintiff is a 20-year-old woman and had argued that childhood use of Instagram and YouTube led to severe body dysmorphia, depression, and suicidal ideation, driven in large part by algorithmic design features like recommendation engines and auto-play that made the apps difficult to put down. Today’s verdict is a historic moment — for Kaley and for the thousands of children and families who have been waiting for this day…She showed extraordinary courage bringing this case and telling her story in open court. A jury of Kaley’s peers heard the evidence, heard what Meta and YouTube knew and when they knew it, and held them accountable for their conduct, according to attorneys representing the plaintiff in a statement after the verdict. The jury awarded $3 million in compensatory damages, with Meta bearing 70% of the liability and YouTube the remaining 30%, plus an additional $3 million in punitive damages split along similar lines. Both companies said they plan to appeal. A separate case in New Mexico simultaneously found Meta liable for failing to protect minors from online predators, resulting in a $375 million penalty. This happened last Tuesday, and Meta stock was actually up following the verdict as investors shrugged off the news. Thursday, though, bore a different reaction entirely. The combination of two adverse verdicts in the same week appears to have crossed a threshold for investors who had previously been willin...
After setting a breathtaking pace for what felt like all of 2025 and the first several weeks of this year, gold prices are tumbling, and mining stocks are going along for the bearish ride. Count Newmont (NYSE: NEM) , one of the most widely followed gold stocks , among the bullion miners that are being punished as the commodity's price retreats. For the month ended March 24, shares of Newmont are o...
After setting a breathtaking pace for what felt like all of 2025 and the first several weeks of this year, gold prices are tumbling, and mining stocks are going along for the bearish ride. Count Newmont (NYSE: NEM) , one of the most widely followed gold stocks , among the bullion miners that are being punished as the commodity's price retreats. For the month ended March 24, shares of Newmont are off 20.3%, a decline that's nearly 430 basis points worse than that of the largest exchange-traded fund (ETF) backed by physical holdings of the yellow metal. This mining stock is suffering as gold prices falter. Image source: Getty Images Continue reading
Silynxcom ( SYNX ) on Friday said it has received a purchase order exceeding $1.1 million from a military force in the Middle East for the company’s Tactical Systems. Silynxcom’s Tactical Systems deliver advanced tactical communication and protective systems, with seamless radio connectivity. SYNX +7.84% premarket to $1.1. Source: Press Release More on Silynxcom Financial information for Silynxcom
Silynxcom ( SYNX ) on Friday said it has received a purchase order exceeding $1.1 million from a military force in the Middle East for the company’s Tactical Systems. Silynxcom’s Tactical Systems deliver advanced tactical communication and protective systems, with seamless radio connectivity. SYNX +7.84% premarket to $1.1. Source: Press Release More on Silynxcom Financial information for Silynxcom