Rangsarit Chaiyakun/iStock via Getty Images Par Pacific ( PARR ) is up over 70% YTD on the back of higher crude oil prices. The company is primarily the operator of refinery assets across Hawaii and the Pacific Northwest, and with crack spreads in their operating states at multi-year highs, the company's operational leverage has been on full display, effectively printing cash flow. The focus now shifts to whether or not these crack spreads can be sustained and the potential effect on PARR should they subside. While the company seems to be a great SMID-cap integrated energy company that investors should absolutely continue to pay attention to, I see clear downside risk from here. The Multi-Faceted Energy Story Par Pacific is an energy company that has a variety of operations. They have an integrated logistics network that has 13 MMbbls of storage, as well as marine, rail, and pipeline assets. The company also has a system-wide refining capacity of 219,000 bpd. On top of that, the company has 115 fuel retail locations in Hawaii and the Pacific Northwest under the brands Hele and nomnom and a licensing of the 76 brand. As a result, the company has three primary operating segments: refining, retail, and logistics. In terms of mix , refining is the vast majority of revenue at 96.5%, while logistics is 4% of revenue and retail is 7.7% of revenue. Naturally, this is over 100%, so there is a corporate elimination of 8.3% to offset. This heavy refining mix is true at the operating income level as well, with refining accounting for over 90% of operating income. The company's refining operations are spread across Hawaii, Montana, Washington, and Wyoming. The Hawaii refinery is of the utmost performance, to the point that the company reports separate operating statistics for it in its earnings reports. The company's refinery produces 39% distillates, 35% gasoline, 14% LSFO - which is low sulfur fuel oil used as marine bunker fuel, 7% asphalt, and 5% other products. The company ...

NVIDIA (NVDA) adds $80 billion to share buyback program and increases dividend payout by 2400% NVIDIA is buying back its own stock in an effort to return money to shareholders. As part of NVIDIA’s latest earnings release, the company shared updates on other aspects of its business. This included the announcement that NVIDIA has added $80 billion to its share buyback program. The announcement can be found in NVIDIA’s Q1 FY27 earnings release. With this move, the tech company is looking to increase its quarterly cash dividend from $0.01 per share to $0.25 per share. During the first quarter of fiscal 2027, NVIDIA returned a record level of approximately $20.0 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the first quarter, the company had $38.5 billion remaining under its share repurchase authorization. On May 18, 2026, the Board of Directors approved an additional $80.0 billion to the Company’s share repurchase authorization, without expiration. NVIDIA is increasing its quarterly cash dividend from $0.01 per share to $0.25 per share of common stock, which will be paid on June 26, 2026, to all shareholders of record on June 4, 2026. In addition to the buyback news, NVIDIA reported a beat on both revenue and EPS expectations in its latest quarter. Shacknews staff does not use generative artificial intelligence (AI) in their content. Shacknews strictly prohibits the use of its content for AI training or to generate text, including text in the style or format used for this publication. Shacknews reserves all rights to this work.

美联储官员对上月伊朗战争推高通胀的担忧加剧，越来越多决策者对可能需要加息持开放态度，这表明即将上任的新主席凯文·沃什将接手一个日益鹰派的美联储核心团队。 周三公布的会议纪要显示，大多数美联储决策者在4月28日至29日的会议上认为，如果通胀持续高于央行2%的目标，“适度收紧政策可能是合适的”。 会议纪要称：“为应对这种可能性，许多与会者表示，他们更希望从会后声明中删除暗示委员会未来利率决策方向存在宽松倾向的措辞。” 在美联储的精准用语中，“许多”略低于“大多数”，意味着四位对维持声明不变投反对票的地区联储主席得到了至少同等数量的非投票委员的支持。 修改声明可能被视为对新任美联储主席的约束——而后者在伊朗战争爆发前曾表示支持降息。 凯文·沃什 会议纪要称，决策者“普遍判断”他们需要将政策利率维持在不变水平的时间比先前预期的更长。“绝大多数”与会者指出，通胀回归2%目标所需时间比他们原先认为的更长的风险有所上升，尽管他们“普遍预计”短期内劳动力市场状况将保持稳定。 事实上，虽然有几位决策者确实认为，一旦通胀缓解，降息将是合适的，但这一人数已少于3月会议上持同样看法的“许多”人。 牛津经济研究院首席全球经济学家瑞安·斯威特表示：“尽管6月会议将由新任美联储主席主持，但在短期内就利率向任何方向变动达成共识都将是艰巨的任务。” 这份关于美联储一代人以来分歧最大的一次政策会议的详细记录，为等待沃什接手的两个决策者阵营的关键变化提供了重要细节：一个日益壮大的阵营对伊朗战争引发的通胀以及任何有关未来降息的言论保持警惕；另一个逐渐缩小的阵营则仍倾向于降低借贷成本。 一张柱状图显示了自2022年12月以来每次美联储会议前，持鸽派、中间派或鹰派观点的决策者人数。 决策者进一步转向鹰派的罪魁祸首仍然是通胀压力 ，而美国—以色列领导的对伊战争加剧了这种压力。这场持续近三个月的冲突推高了能源价格，并在越来越多的商品和服务领域引发了成本压力。 会议纪要显示，4月会议（由杰罗姆·鲍威尔主持的最后一次会议）是连续第二次有比前一次政策会议更多决策者认为，如果通胀持续高于目标，加息可能是合适的。 沃什曾表示他喜欢“家庭内部的好争论”，他自己也提出过支持降低利率的论点。他将在由美国总统特朗普主持的白宫仪式上宣誓就任美联储主席。特朗普任命了沃什，并明确要求大幅降息。会议纪要显示，要想在宽松政策的辩论中获胜将是...

A new gauge of household “misery” that includes mortgage rates has been moving in a worrisome direction that could mean weaker returns for the S&P 500

The extent of Emery's Aston Villa revolution cannot be underestimated. When the Spaniard took charge on 1 November 2022, Villa were 16th in the Premier League - two places and one point above the relegation zone. They went on to win 15 of their 25 league games to finish seventh and earn a spot in European competition for the first time since 2010-11. In his first full season, Emery secured Champions League football for Villa for the first time since 1982–83. His side also won 15 consecutive home league games - the most in their 151-year history. And now, with Champions League football secured once again, Villa are champions on the continent for the first time in a generation. Former Villa midfielder Mark Albrighton told BBC Radio 5 Live that Emery has "taken Villa to the next level". He said: "There are going to be times when you have highs and lows, that is the nature of football. "Villa have experienced some of those lows but now they are on a massive high. Unai Emery was a step up in terms of what they had before." Ashley Young, another ex-Villa player, also told Radio 5 Live: "As soon as Unai Emery came in to Aston Villa, the players saw what he had done in his career, saw the Europa Leagues he had won and the clubs he had managed. "Emery is a born winner, especially in this competition when he has shown it time and time and time again. Put his name up there alongside Ancelotti and Mourinho. "He's put this club back into Europe, back into the Champions League. If you had said when we were in 16th position in the Premier League that he would come in and win the Europa league, not one player would think that would be true. He's just got a way." There are more teams now who work the way Emery works, who study what he studies and have managers who stay up late watching football they don't really have to watch. But Emery will continue to go one step further - as he always does.

Fears of unfettered hacking spurred by Anthropic's Mythos AI model overstated Reuters

is a senior reporter and author of the Optimizer newsletter. She has more than 13 years of experience reporting on wearables, health tech, and more. Before coming to The Verge, she worked for Gizmodo and PC Magazine. This is Optimizer, a weekly newsletter sent from Verge senior reviewer Victoria Song that dissects and discusses the latest gizmos and potions that swear they’re going to change your life. This week’s issue is a special early edition tied to The Verge’s Google I/O coverage. You can expect our next issue at its usual time next Friday. Opt in for Optimizer here. Toward the end of this year’s Google I/O keynote, Google DeepMind CEO Demis Hassabis declared, with a completely deadpan face, that the company hopes to “reimagine the drug discovery process with the goal of one day solving all disease.” This is the sort of statement that the phrase “big, if true” was coined for. What Hassabis was really describing was Gemini for Science, a collection of experimental AI tools designed to encourage researchers to explore and make new discoveries. I’m often critical of AI health in Optimizer, but Hassabis’ statement is one that deserves a lot more contextualization. Good science communication — something that is digestible enough for the layperson, that doesn’t unintentionally promote misinformation — has become increasingly difficult. Surely the researchers in the I/O audience understood the claim to mean that advances in AI have dramatically reduced the time it takes to make new medical discoveries. But for the average person (and arguably, even science communicators), it probably sounded like “Gemini is going to cure every disease because that is the power of AI.” This is just not how medical breakthroughs work in the real world. For decades, AI has been an integral part of medical research and discovery. The algorithms that wearables use? That’s AI. Discoveries for noninvasive, wearable detection features? Machine learning, baby. Generative AI is a relatively ne...

Gabelli Funds Growth Portfolios Managing Director John Belton gives his initial reaction to Nvidia's first-quarter earnings report and forecast on "Bloomberg The Close." (Source: Bloomberg)

随着人工智能驱动科学研究成为全球科技竞争的新制高点，从千亿参数模型训练到气象预报、新材料研发，科学智能的每一个突破，都需要强大的算力支撑。作为当前科研投入的重要基础设施，一张智能调度的算力网正在加速建设。国家超算互联网已经汇聚了超过30家智算和超算中心，形成统一的一张网。包括超过300万个CPU核，以及20万张GPU卡。目前，我国已初步实现八大国家算力枢纽节点20毫秒时延圈，也就是说，从一个枢纽抵达其他节点的时延不到人类眨眼时间的十分之一，其中最快的成渝枢纽至全国各节点网内时延12.4毫秒；部分区域时延仅1毫秒，真正实现算力“在身边、秒触达”。工信部表示，当前我国正加快建设枢纽、区域、边缘三级算力节点和通信网、电力网两张保障网络，“中国算力平台”到今年年底将全面实现算力数据自动化监测，“算力超市”“算力银行”等创新业务也在系统性降低算力使用门槛。 (央视新闻)

以往不少人都希望揾份固定工作，「朝九晚六、穩穩陣陣、準時出糧」，但時代不同，越來越多人會當自由工作者、斜槓族，近年更流行起手機App接單賺外快，但就爆出有跨國網紅行銷公司嚴重拖糧，多名受害者於社交平台大吐苦水，批評公司「有汗出冇糧出」。 「已經過嗮佢承諾嘅30個工作日，網上面越嚟越多人話佢唔還錢啊，好無助啊」、「大家真系唔好再接呢間公司嘅job啦，已經有好多苦主中伏」涉事網紅行銷公司（以下簡稱P公司）主要透過 App平台讓Freelancer為品牌及產品在社交媒體發帖、製作短片宣傳，發文約可賺50元，影片則由數百元至千多元不等。完成工作後，可在App內申請提款，原本需等候30個工作天過數，但自今年1月25日起，多名Freelancer申請後一直未能成功收款。 「我都開始不停呁樣追呢一間公司，差唔多追咗一個月啦，每一次都係話財政負責緊啦，或者係今個禮拜之內就會畀㗎啦，每一次嘅回復基本上好似AI。」受害者C小姐及L小姐表示，最初透過朋友介紹接單，2023至2024年出糧尚算準時，但今年年初開始出現延誤，即使過了農曆新年仍不斷以「太多人提款」或「財務放假」為由拖延。 「最嬲就係因為佢完全係冇回音，即係我覺得佢如果可能一直keep住解釋下，都會好少少。」至今兩人分別被拖欠約2,700元及5,077元。而據《一線搜查》在苦主群組統計，最少有79人聲稱被拖糧，涉及總金額超過20萬元，當中有苦主更表示已等足6個月。 據《一線搜查》了解，該公司註冊地址在荔枝角一間商廈，但地址原來是間秘書公司。而P公司早前曾在銅鑼灣利園租用共享辦公室，但亦因欠租已被要求搬走。有P公司前職員透露，香港業務只有銷售人員，HR及財務團隊均設於台灣，但現時業務已轉移至新加坡總部。 據P公司網頁顯示，2023年進軍香港，曾與超過100個品牌合作，包括貿發局。《一線搜查》以電郵聯絡該新加坡總部，行政總裁親自回覆承認正重組虧損業務及調整現金流，導致出糧延遲，但強調「目前並無清盤打算」，承諾會確保所有香港Freelancer在未來兩個月內收到款項。P公司其後亦於社交平台發聲明，重申會盡快處理欠薪問題。 警方表示接獲多宗相關報案，部分報案人已收到全數或部分款項。勞工處回覆指若事主認為自己屬僱員身份，可到勞資關係分區辦事處求助。有律師就指出，網紅工作多屬合約關係而非僱傭合約，若對方違約拖糧，事主可按金額向小額錢債審裁處...

周三美股成交额第1名英伟达收高1.30%，成交350.79亿美元。英伟达周三盘后公布了2027财年第一季度财报，营收和利润均超出分析师预期。 第二季度业绩展望方面，英伟达预计营收将在891亿至928亿美元之间，而华尔街此前预期为873亿美元。 第一季度，英伟达实现每股收益（EPS）1.87美元，营收816.2亿美元，高于分析师预期的每股1.77美元和营收791.8亿美元。公司还将季度股息提高至每股0.25美元。 英伟达数据中心业务贡献了大部分营收，达到752亿美元，高于华尔街分析师预期的734.7亿美元，也远超去年同期的391.1亿美元。 第2名 美光 收高4.76%，成交343.58亿美元。 第3名 英特尔 收高7.36%，成交191.21亿美元。英特尔CEO陈立武在受访时，公布了14A工艺的最新路线图，并透露该计划于2028年启动风险试产，2029年实现规模化量产。 此外，陈立武透露18A工艺良率已实现每月7%-8%的稳定提升，超出内部预期。并称随着制造稳定性增强，多家潜在客户开始进入实质性合作阶段，预计下半年将有重大订单落地。 第4名 特斯拉 收高3.25%，成交183.43亿美元。德意志银行分析师在与 优步 代表交谈后发布的一份报告中表示，随着优步即将商业化推出几个自动驾驶汽车（AV）合作项目，看空优步自动驾驶汽车战略的论调——即自动驾驶汽车市场将由特斯拉和Alphabet旗下的Waymo主导——正变得越来越站不住脚。 第5名 AMD 收高8.10%，成交155.71亿美元。5月19日，AMD在上海举办AI开发者日，该公司CEO苏姿丰在讲话中着重提及了智能体，并继续延伸了此前财报发布时就在强调的观点：CPU正在变得越来越关键。苏姿丰认为，传统数据中心中CPU与GPU比例是1比4，到2026年，CPU与GPU比例将变成1比1。 第10名 亚马逊 收高2.19%，成交90.91亿美元。亚马逊创始人杰夫·贝索斯周三淡化了对人工智能泡沫即将到来的担忧，他表示，巨额的投资最终将长期推动这项技术的发展。 “即使它最终真的变成泡沫，你也不必为此担心，因为泡沫正在推动投资，而这些投资中有很大一部分最终将证明是非常健康的，”贝索斯说道。 创纪录的估值和由AI巨额投资推动的交易助长了AI热潮，这让一些人怀疑这是否是一场终将破裂的泡沫的雏形。与此同时，亚马逊、 微软 和 谷歌 等...

NVIDIA (NVDA) reports 75% Q1 FY27 gross margin It's a massive leap from the 60.8% number reported in Q1 FY26 NVIDIA (NVDA) issued its financial earnings for the Q1 2027 fiscal quarter. To start off this first quarter of the latest fiscal year, NVIDIA is celebrating a wild gross profit margin number. For this quarter, GAAP and non-GAAP gross margins were at 74.9 and 75 percent, respectively. That's up from 60.5 percent at this point last year. Source: NVIDIA As noted in NVIDIA's Q1 2027 earnings results, the tech giant reported a gross profit figure of $61.157 billion for the three-month period ending on April 26, 2026 with a 74.9 percent GAAP gross margin. This is compared to the $26.668 billion figure and 60.5 percent gross margin for the three-month period that ended at this point last year. NVIDIA is expecting to report the same numbers for the next financial quarter. "GAAP and non-GAAP gross margins for the first quarter increased from a year ago on lower inventory provisions, primarily due to the prior year’s $4.5 billion charge associated with H20 excess inventory and purchase obligations," reads the Q1 2027 CFO commentary. "GAAP and non-GAAP gross margins were approximately flat sequentially as our Blackwell architecture remains the majority of our revenue." We'll have much more to say about NVIDIA throughout the day at Shacknews. Be sure to listen to the Q1 FY27 earnings call, which is scheduled to take place later today. We'll have it up on the Shacknews Twitch channel and available on demand on the Shacknews YouTube channel. Shacknews staff does not use generative artificial intelligence (AI) in their content. Shacknews strictly prohibits the use of its content for AI training or to generate text, including text in the style or format used for this publication. Shacknews reserves all rights to this work.

Source: Bloomberg, 0:00

格隆汇5月21日｜韩国4月PPI月率录得2.5%，创1998年2月以来新高；PPI年率录得6.9%，创2022年10月以来新高。

格隆汇5月21日｜穆迪宣布完成对美国联邦政府评级的定期审查。

Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, sign up . It’s been a wild week for Sherritt . As regular readers of this newsletter know, we published a swan song for the Canadian miner’s Cuban ventures after the company said it was giving up on its business on the Caribbean island when pressure from the White House simply became too much. On Tuesday, Sherritt reversed course . After consultations with advisers and government officials, it decided not to proceed with plans to dismantle its Cuban joint ventures. But the more stunning revelation came this morning. Sherritt is in talks to hand a controlling stake to a family office linked to a former adviser of President Donald Trump. The plan is to allow Gillon Capital to acquire enough common shares to own 55% of the miner, at a discount to an already-depressed share price. Gillon is controlled by Ray Washburne, a real estate executive whom Trump appointed in 2017 to head the Overseas Private Investment Corporation before later naming him to the Presidential Intelligence Advisory Board. The reason for the flurry of activity at Sherritt was Trump himself. This month he signed a broad executive order imposing “ new sanctions on entities, persons, or affiliates that support the Cuban regime’s security apparatus,” which could include non-US citizens or businesses involved in Cuba. That led to a series of departures — including the company’s auditor and chief financial officer. The US State Department said it has no objections to Gillon Capital’s engagement with the company. Sherritt has been one of Cuba’s largest foreign investors since it went into business with the Castro regime in the 1990s. It seems the company isn’t ready to give that title up quite yet. But the ownership, and who benefits from any future regime change in Cuba, may be about to change. Also in this newsletter: Canada’s cost for the World Cup . Mark ...

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李家超：歡迎全球投資者、金融領袖以香港為平台 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】行政長官李家超在一個金融論壇上視像致辭，指當前地緣衝突持續，能源危機未解，全球經濟面臨多重挑戰。認為在「一國兩制」內聯外通等因素下，香港為全球投資者提供一流平台。 行政長官李家超：「在當前複雜多變的國際環境下，我們定當主動作為香港將繼續發揮『背靠祖國、聯通世界』的獨特優勢，為世界搭建對話橋樑，拓展多邊合作空間，與全球共享穩定與增長的豐碩成果。香港不但是穩定的錨，更是增長的帆。我們歡迎全球投資者和金融領袖以香港為平台，把握機遇、共創未來。」

SpaceX said it has sunk more than $15 billion into developing its massive Starship rocket, which is manufactured and launched out of SpaceX’s Starbase facility in South Texas. The company made the announcement in a US Securities and Exchange Commission filing on Wednesday. Advertised as the most powerful rocket ever developed, Starship is SpaceX’s incredibly ambitious vehicle, designed to loft large satellites to orbit and eventually take people to the moon and Mars. It’s also meant to be a fully reusable launch system, with the entirety of the rocket returning to Earth intact after each mission — something that’s never been achieved before in spaceflight history. Back in 2018, SpaceX CEO Elon Musk predicted that Starship would cost between roughly $2 billion to $10 billion to develop. In April 2023, Musk predicted that SpaceX would spend about $2 billion on Starship that year. The rocket is expected to fly on its twelfth test mission as soon as tomorrow, a launch that the company needs to go well . For more on SpaceX IPO filing, click here for our TOPLive blog.

Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha Seeking Alpha Note: In Q1'27 Nvidia changed the presentation of revenue by market platform. Under this, Data Center includes two sub-markets, Hyperscale and AI Clouds, Industrial, and Enterprise. More on Nvidia Nvidia Technical: Potential Mean Reversion Decline Below 236.54 As Earnings Loom Wall Street Lunch: Ex-OpenAI Researcher's Fund Shorts Nvidia, AI Chip Stocks Nvidia Q1 Preview: Data Center Backlash Nvidia slips as Q1 results, guidance top estimates; adds $80B share buyback Nvidia Non-GAAP EPS of $1.87 beats by $0.10, revenue of $81.62B beats by $2.65B

Three Spots/iStock via Getty Images RTX ( RTX ) on Wednesday said its BBN Technologies division demonstrated a communications system designed to maintain secure data connections for combat air support operations even when networks are disrupted by jamming or outages. RTX BBN Technologies has demonstrated a self-healing system that keeps mission data flowing even when networks are jammed (RTX) The project, funded by the Air Force Research Laboratory, centers on a system called PACE4ACE, short for Primary, Alternate, Contingency and Emergency for Agile Combat Employment. The architecture is intended to automatically shift communications traffic between available networks without requiring operator intervention. According to RTX ( RTX ), the system can move between a range of military and commercial communications links, including satellite connections, tactical radios and lower-bandwidth systems. During a recent exercise involving four geographically separated sites, the network reportedly remained operational even when higher-capacity links were intentionally jammed. “When any of the high-capacity links were jammed, the system instantly switched to the next viable waveform,” RTX said in its announcement, adding that the setup kept operational applications synchronized during the test. The effort reflects a broader Pentagon focus on maintaining communications in contested environments, particularly under the Air Force’s Agile Combat Employment strategy, which envisions smaller and more dispersed operating locations instead of centralized bases that could be vulnerable to attack. Dr. Sam Nelson, principal investigator at RTX BBN Technologies, said the goal is to reduce the burden on crews operating in degraded communications conditions. “For warfighters on the ground and in the cockpit, PACE4ACE helps ensure critical data never disappears, even under jamming,” Nelson said in a statement. RTX ( RTX ) said the system is built with a low size, weight and power footprint, ...