Central Asia is fast becoming Hong Kong’s next frontier for growth as the city makes a major strategic pivot towards the region. This welcome new direction is about to be further embraced, after the announcement that Chief Executive John Lee Ka-chiu will lead his administration’s biggest business delegation to Kazakhstan and Uzbekistan next month. More than 30 Hong Kong business leaders from secto...
Central Asia is fast becoming Hong Kong’s next frontier for growth as the city makes a major strategic pivot towards the region. This welcome new direction is about to be further embraced, after the announcement that Chief Executive John Lee Ka-chiu will lead his administration’s biggest business delegation to Kazakhstan and Uzbekistan next month. More than 30 Hong Kong business leaders from sectors ranging from logistics to innovation and technology as well as about 30 entrepreneurs from mainland China will join the chief executive on the trip to the nations’ respective capitals, Astana and Tashkent, in early June. It is sensible and timely for the city to deepen ties with the region. While announcing his plans, Lee noted Central Asia’s economic diversification and strong growth in finance, trade, infrastructure, tourism and green development – sectors where Hong Kong excels. Advertisement Kazakhstan is Central Asia’s largest economy and a key partner in Beijing’s Belt and Road Initiative. The emerging financial hub’s gross domestic product approached US$303 billion last year. Uzbekistan boasts the largest population among the five Central Asian countries. Earlier this month, it signed 15 bilateral agreements with China covering areas such as infrastructure, healthcare and metal production. Advertisement The authorities have spent several years promoting the city in the Middle East and Southeast Asia. Their success with promotional pushes in those areas is a testament to Hong Kong’s proactive approach to navigating global geopolitical uncertainties.
Goldman Sachs Group Inc. has the leading role on the cover of SpaceX ’s initial public offering, according to people familiar with the matter, giving the firm a prominent position in potentially the biggest listing of all time. Morgan Stanley is also listed as a lead bank, the people said, asking not to be identified as the information isn’t public. Bank of America Corp. , Citigroup Inc. and JPMor...
Goldman Sachs Group Inc. has the leading role on the cover of SpaceX ’s initial public offering, according to people familiar with the matter, giving the firm a prominent position in potentially the biggest listing of all time. Morgan Stanley is also listed as a lead bank, the people said, asking not to be identified as the information isn’t public. Bank of America Corp. , Citigroup Inc. and JPMorgan Chase & Co. appear in alphabetical order on the preliminary prospectus, the people said, asking not to be identified as the information isn’t public. Billionaire Elon Musk ’s rocket, satellite and artificial intelligence firm is expected to file publicly for an IPO as soon as Wednesday, Bloomberg News has reported. A bank’s position on the cover of a high-profile IPO conveys potentially a more active role and in some cases a larger share of the fees. Deliberations are ongoing and details of the offering could still change, the people said. The Wall Street Journal was first to report the lineup. Representatives for Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and JPMorgan declined to comment. A spokesperson for SpaceX didn’t immediately respond to requests for comment. SpaceX’s IPO is targeted to raise as much as $75 billion and is seeking a valuation of more than $2 trillion, people familiar with the matter have said. At that size, it would easily surpass Saudi Aramco’s $29.4 billion IPO in 2019, according to Bloomberg calculations. Read More: Is SpaceX Worth $2 Trillion? Key Questions for Musk’s Big IPO The listing is expected to generate fees for the banks on the deal far in excess of a normal listing, and Citigroup was added to the banks leading the offering, Bloomberg News reported in March, joining the other four. For the latest news on equity capital markets activity in the US, Canada and Latin America, terminal users can follow the channel or visit NI BFWECMUS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, cli...
ismagilov/iStock via Getty Images This is my second crack at this article. Within minutes of submitting my first draft to Seeking Alpha’s editors, this excellent article was released into the wild onto the Seeking Alpha website. I agree with everything the author has written, including the recommendation to BUY the Avantis US Small Cap Value ETF ( AVUV ). Not wanting to put out a copy of something...
ismagilov/iStock via Getty Images This is my second crack at this article. Within minutes of submitting my first draft to Seeking Alpha’s editors, this excellent article was released into the wild onto the Seeking Alpha website. I agree with everything the author has written, including the recommendation to BUY the Avantis US Small Cap Value ETF ( AVUV ). Not wanting to put out a copy of something that is already quite good, I considered pulling my own article, but in the end, I think there is more to be said. There are four themes that this article will touch on. All of them offer reasons to buy AVUV. Active Investment versus Passive Investment, and why AVUV’s Factor Based investment approach will likely continue to produce superior returns compared to other Small-Cap Stock funds and ETFs. Small-Cap Stocks versus Large-Cap Stocks: How much of a discount is appropriate for small caps, has the cycle turned, is it a good time to buy small caps? Growth Stocks versus Value Stocks: Again, has the cycle turned? More importantly, if one wants diversification, how much of this is on offer from the S&P 500 ( SP500 ), and in ETFs such as SPY that track it? Why AVUV should be incorporated into a portfolio, and how it will help to produce superior risk-adjusted returns going forward, as measured by Sharpe ratios. AVUV’s Approach To Investing I am skeptical of the ability of active investment managers to produce long-term excess returns. I believe that the excess returns available from arbitrage, or opportunities that arise due to tax selling (i.e. the January Effect), forced selling, index rotation, or other events, are transitory. Further, and this is one of the reasons I invest privately in a short-term portfolio, much of the excess return produced by investment managers is used to compensate them for their skill and diligence in spotting such opportunities. I prefer to keep excess returns for myself. However; i) Small-caps are different, and, ii) As I wrote two years ago, “ ...
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Alger Investments’ Ankur Crawford, JP Morgan’s Chief US Economist Michael Feroli, Guggenheim Securities’ Simeon Siegel, Saks Global CEO Geoffroy van Raemdonck, Union Square Advisors President & Co-Founder Ted Smith, Gerber Kaw...
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Alger Investments’ Ankur Crawford, JP Morgan’s Chief US Economist Michael Feroli, Guggenheim Securities’ Simeon Siegel, Saks Global CEO Geoffroy van Raemdonck, Union Square Advisors President & Co-Founder Ted Smith, Gerber Kawasaki’s Co-Founder, President & CEO Ross Gerber, Ark Investment Management Chief Futurist Brett Winton, Allen Media Group Founder, Chairman & CEO Byron Allen, & Atomic Monster President Michael Clear. (Source: Bloomberg)
Pep Guardiola refused to publicly comment on the expectation that his 10-year reign at Manchester City will come to an end despite reports in the Guardian that he has already informed his players. “I could say I have one year of contract – the conversation we have had for many years,” he said. A 1-1 draw at Bournemouth meant City could not prevent Arsenal becoming Premier League champions. Guardio...
Pep Guardiola refused to publicly comment on the expectation that his 10-year reign at Manchester City will come to an end despite reports in the Guardian that he has already informed his players. “I could say I have one year of contract – the conversation we have had for many years,” he said. A 1-1 draw at Bournemouth meant City could not prevent Arsenal becoming Premier League champions. Guardiola repeated the deflection he has used throughout this season. “Always from my experience, when you [media] announce whatever you announce during a competition, it is a bad, bad result.” He said the first person to know his decision would be Khaldoon al-Mubarak, the chair of City Football Group, and he would also consult with Ferran Soriano, the chief executive: “The first person I have to talk to is my chairman because we both decide – we will talk, it is simple as that and after that we will take the decision. “Listen, I have one more year. I will not tell you here as I have to talk to my chairman, with my players and with my staff. I am the happiest man on the planet to be in this club. This club is extraordinary.” Guardiola admitted his conversation with Mubarak was imminent: “I always said that when you are fighting for the titles or Premier Leagues or FA Cups, in the first moment there is a problem the players don’t follow you any more. “Now is a moment with Ferran and my chairman to talk and after that we will see what happens … taking nothing for granted. Next season we will be back, City will be back.” Guardiola instead chose to congratulate Arsenal, managed by his former assistant at City, Mikel Arteta. He said: “We were close. On behalf of everyone at Manchester City, we congratulate Mikel and all the staff, players and fans on winning the Premier League. They deserve it.” He said his team’s heavy schedule has played its part in falling short, saying: “I would have loved to arrive at the last moment but today the fatigue was there.” Erling Haaland’s late equalise...
Shares of Agilysys (AGYS +12.45%) rose on Tuesday after the hospitality software provider's strong quarterly growth metrics assuaged investors' concerns regarding potential disruption from artificial intelligence (AI). Solid sales and profit gains Agilysys' total net revenue grew 11.7% year over year to $82.9 million in its fiscal 2026 fourth quarter ended March 31. The software specialist's recur...
Shares of Agilysys (AGYS +12.45%) rose on Tuesday after the hospitality software provider's strong quarterly growth metrics assuaged investors' concerns regarding potential disruption from artificial intelligence (AI). Solid sales and profit gains Agilysys' total net revenue grew 11.7% year over year to $82.9 million in its fiscal 2026 fourth quarter ended March 31. The software specialist's recurring revenue, which includes subscription and maintenance charges, climbed 18% to $54.4 million and now accounts for 65.5% of total net revenue. Investors prize recurring revenue streams due to their predictability. Subscription revenue growth was particularly strong at 24.1%. "Fiscal 2026 was an outstanding year across all crucial major metrics, including record-shattering sales and world-class customer retention levels, which have positioned us well for another record year in fiscal 2027," CEO Ramesh Srinivasan said. Expand NASDAQ : AGYS Agilysys Today's Change ( 12.45 %) $ 8.74 Current Price $ 78.94 Key Data Points Market Cap $2.0B Day's Range $ 76.67 - $ 94.77 52wk Range $ 61.50 - $ 145.25 Volume 2.7M Avg Vol 310K Gross Margin 58.69 % Rather than a threat, Agilysys sees AI as a catalyst for improved profitability. "Sweeping AI-related changes across the entire organization, especially in R&D [research and development], are helping us to improve operating leverage across several business areas and increase the pace of competitive product differentiation of our hospitality-focused software solution ecosystem," Srinivasan said. These AI-powered initiatives helped to drive the company's gross margin up to 64.4% from 60.7% in the year-ago quarter. Agilysys' adjusted earnings, in turn, jumped 17% to $0.63 per share. An upbeat forecast Management guided for full-year revenue of $365 million to $370 million in fiscal 2027, with subscription revenue growth of at least 30% and continued margin expansion. "The sales momentum throughout the fiscal year has carried us into fiscal 20...
Keysight (KEYS) came out with quarterly earnings of $2.87 per share, beating the Zacks Consensus Estimate of $2.33 per share. This compares to earnings of $1.7 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +23.18%. A quarter ago, it was expected that this electronic measurement technology company would post earnin...
Keysight (KEYS) came out with quarterly earnings of $2.87 per share, beating the Zacks Consensus Estimate of $2.33 per share. This compares to earnings of $1.7 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +23.18%. A quarter ago, it was expected that this electronic measurement technology company would post earnings of $1.99 per share when it actually produced earnings of $2.17, delivering a surprise of +9.05%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Keysight, which belongs to the Zacks Electronics - Measuring Instruments industry, posted revenues of $1.72 billion for the quarter ended April 2026, missing the Zacks Consensus Estimate by 0.07%. This compares to year-ago revenues of $1.32 billion. The company has topped consensus revenue estimates three 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. Keysight shares have added about 67.6% since the beginning of the year versus the S&P 500's gain of 8.1%. What's Next for Keysight? While Keysight has outperformed 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 ...
Toll Brothers (TOL) came out with quarterly earnings of $2.85 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $1.85 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50.79%. A quarter ago, it was expected that this home builder would post earnings of $1.37 per share whe...
Toll Brothers (TOL) came out with quarterly earnings of $2.85 per share, beating the Zacks Consensus Estimate of $1.89 per share. This compares to earnings of $1.85 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50.79%. A quarter ago, it was expected that this home builder would post earnings of $1.37 per share when it actually produced earnings of $1.70, delivering a surprise of 24.09%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Toll Brothers , which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $2.51 billion for the quarter ended April 2023, surpassing the Zacks Consensus Estimate by 21.31%. This compares to year-ago revenues of $2.28 billion. The company has topped consensus revenue estimates four 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. Toll Brothers shares have added about 29.6% since the beginning of the year versus the S&P 500's gain of 9.2%. What's Next for Toll Brothers? While Toll Brothers has outperformed 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 est...
Expand NASDAQ : SOFI SoFi Technologies Today's Change ( -2.93 %) $ -0.46 Current Price $ 15.25 Key Data Points Market Cap $20B Day's Range $ 14.92 - $ 15.64 52wk Range $ 12.74 - $ 32.73 Volume 1.3M Avg Vol 67M Gross Margin 61.74 % SoFi Technologies (SOFI 2.93%), a digital financial services company that offers lending, investing, and banking, closed at $15.23, down 3.06%. The stock declined, along...
Expand NASDAQ : SOFI SoFi Technologies Today's Change ( -2.93 %) $ -0.46 Current Price $ 15.25 Key Data Points Market Cap $20B Day's Range $ 14.92 - $ 15.64 52wk Range $ 12.74 - $ 32.73 Volume 1.3M Avg Vol 67M Gross Margin 61.74 % SoFi Technologies (SOFI 2.93%), a digital financial services company that offers lending, investing, and banking, closed at $15.23, down 3.06%. The stock declined, along with major U.S. indexes, on concerns of conflict-related inflation and high Treasury yields. Trading volume reached 63.5 million shares, coming in 5.2% below its three-month average of 66.8 million shares. SoFi Technologies IPO'd in 2021 and has grown 21% since going public. How the markets moved today S&P 500 (^GSPC 0.67%) fell 0.67% to 7,354, while the Nasdaq Composite (^IXIC 0.84%) lost 0.84% to finish at 25,871. Among credit services peers, LendingClub (LC 2.43%) closed down 2.43% at $15.25, and Upstart (UPST +0.54%) ended up 0.50% at $28.08 as investors weighed sector fundamentals. What this means for investors SoFi soared to record highs last year, but — down over 40% year-to-date — it has struggled in 2026. Even its recent solid Q1 results didn’t help it to rebound, in part because Wall Street was disappointed that it didn’t raise its full-year forecast. A few factors are weighing on investor confidence, including a critical report from a short-seller that the firm has dismissed as “inaccurate.” Today’s drop is likely due to soaring Treasury yields and growing fears that the Federal Reserve could increase interest rates. Both pressured markets today and could present headwinds for SoFi’s lending arm. Long-term, the bigger question is whether SoFi can achieve its goal of becoming a one-stop shop as it seeks to disrupt traditional financial services. It is a competitive space, but SoFi’s continued growth in its customer base and ability to embrace new technologies, including stablecoins, may give it the edge.