Nickel prices jumped after the world’s largest producer Indonesia agreed to tax outbound shipments of the battery metal. Futures climbed as much as 2.7% on the London Metal Exchange after Finance Minister Purbaya Yudhi Sadewa said President Prabowo Subianto had approved tariffs for coal and nickel exports on Wednesday. Discussions were still underway on specific tax rates, according to the ministe...
Nickel prices jumped after the world’s largest producer Indonesia agreed to tax outbound shipments of the battery metal. Futures climbed as much as 2.7% on the London Metal Exchange after Finance Minister Purbaya Yudhi Sadewa said President Prabowo Subianto had approved tariffs for coal and nickel exports on Wednesday. Discussions were still underway on specific tax rates, according to the minister. The resource-rich Southeast Asian country has been mulling a windfall tax on commodities as it faces rising budgetary strain from higher oil prices due to the Iran war. As a net crude and fuels importer, Indonesia is also vulnerable to potential inflationary and growth pressures from the conflict’s disruptions to energy flows. The country has long held ambitions to move up the resource value chain by stopping all exports of raw materials and pushing companies to invest in metals processing. Talks of taxing nickel exports specifically can be traced back to a 2022 consideration by then-President Joko Widodo, who wanted to attract investment from battery and EV makers using the metal. Indonesia now accounts for more than half the world’s nickel production and the metal is one of the country’s top export earners. Much of the industry’s growth was driven by Chinese investment. Investors are more likely to believe in the plan now, given Indonesia’s fiscal difficulties, said Gao Yin, an analyst with Shuohe Asset Management Co. Higher taxes are going to boost cost of production and prices of nickel, she said. Nickel on the LME rose 2.1% to $17,310 a ton as of 8:02 a.m. in London.
Do beginnings matter? In books and movies, the answer is a resounding "yes." Losing the reader or viewer early on usually isn't good. But what about how stocks perform at the beginning of the year? Does a rocky start have any bearing on how the stock market finishes? The answer to that question is also a resounding "yes," based on how stocks have performed in the past. I bring this up because the ...
Do beginnings matter? In books and movies, the answer is a resounding "yes." Losing the reader or viewer early on usually isn't good. But what about how stocks perform at the beginning of the year? Does a rocky start have any bearing on how the stock market finishes? The answer to that question is also a resounding "yes," based on how stocks have performed in the past. I bring this up because the S&P 500 (SNPINDEX: ^GSPC) is on track to finish the first quarter of 2026 in negative territory. Here's what history suggests is next. Image source: Getty Images. Continue reading
very good/E+ via Getty Images The solar sector is going up, ARRY is falling. These are not good times for Array Technologies Inc. ( ARRY ) since its latest earnings release, and week after week, this downward drift does not seem to stop. When I read its business model, I found it quite interesting, since essentially it manufactures and sells single-axis trackers for solar plants, that is, the trac...
very good/E+ via Getty Images The solar sector is going up, ARRY is falling. These are not good times for Array Technologies Inc. ( ARRY ) since its latest earnings release, and week after week, this downward drift does not seem to stop. When I read its business model, I found it quite interesting, since essentially it manufactures and sells single-axis trackers for solar plants, that is, the tracking system that orients solar panels throughout the day to achieve the highest possible solar capture. In addition, this component is structural within the CapEx of projects, as practically more than 90% of new installed capacity in the utility-scale in the U.S. uses this type of tracker, so the market exists. So at first glance, if the business makes sense, what is happening? This is what led me to investigate, considering that an index we could consider as a reference, Invesco Solar ETF ( TAN ) is performing well. Data by YCharts The first answer to this question seems to come after the acquisition of STI Norland, since following this transaction, fixed-tilt solutions were added to ARRY’s product portfolio, which are fixed mounting structures, as well as foundations, which are the metal bases where both the tracker and the fixed-tilt systems are anchored. This is something that can make sense considering that these are simpler and less differentiated products than trackers, and in this way offer integrated solutions to clients without having to leave the ARRY ecosystem. However, the market seems to be penalizing this move after seeing that STI Norland (FY22) closed FY25 with a gross profit of -$1.4M , in addition to an inventory charge (H250) of $29.5M that became unusable as it was not compatible with its new systems. To understand the magnitude of the setback, this amount is equivalent to 230 bps of the company’s total revenue, and considering that Adj. EBITDA generated was $187M, a segment coming from an acquisition has destroyed the equivalent of 15% of annual adjust...
Boy Wirat/iStock via Getty Images Chinese authorities have barred two Manus co-founders from leaving the country, heightening scrutiny over Meta Platforms's ( META ) 2025 acquisition of the fast-rising agentic AI startup for $2 billion, the Financial Times reported on Wednesday. Xiao Hong and Ji Yichao were summoned this month to a meeting in Beijing with the National Development and Reform Commis...
Boy Wirat/iStock via Getty Images Chinese authorities have barred two Manus co-founders from leaving the country, heightening scrutiny over Meta Platforms's ( META ) 2025 acquisition of the fast-rising agentic AI startup for $2 billion, the Financial Times reported on Wednesday. Xiao Hong and Ji Yichao were summoned this month to a meeting in Beijing with the National Development and Reform Commission, the country’s powerful economic planner, the FT said. The pair, who’re based in Singapore, were questioned about potential violations of foreign direct investment rules and then told they couldn’t leave China, the FT reported. Meta announced in December that it would acquire Manus , which develops general-purpose AI agents capable of operating as digital employees, performing tasks such as research and automation with minimal prompting. Financial terms of the deal were not disclosed, but the deal reportedly valued Manus at $2 billion-$3 billion. Earlier this year, China's commerce ministry had said it would assess and investigate Meta's acquisition of Manus. More on Meta Meta Platforms: The AI Spending Spree Is Out Of Control Meta Platforms: 16x Adjusted FY2026 P/E Is A Solid Buy Delays, Compute Deals, And Sky-High CapEx: Why I'm Still Bullish On Meta Meta's Ray-Ban smart glasses EU rollout slowed by battery, AI rules and supply constraints: report Meta Platforms raises top executive pay with stock options amid intensifying AI race
Boy Wirat/iStock via Getty Images Chinese authorities have barred two Manus co-founders from leaving the country, heightening scrutiny over Meta Platforms' ( META ) 2025 acquisition of the fast-rising agentic AI startup for $2 billion, the Financial Times reported on Wednesday. Xiao Hong and Ji Yichao were summoned this month to a meeting in Beijing with the National Development and Reform Commiss...
Boy Wirat/iStock via Getty Images Chinese authorities have barred two Manus co-founders from leaving the country, heightening scrutiny over Meta Platforms' ( META ) 2025 acquisition of the fast-rising agentic AI startup for $2 billion, the Financial Times reported on Wednesday. Xiao Hong and Ji Yichao were summoned this month to a meeting in Beijing with the National Development and Reform Commission, the country’s powerful economic planner, the FT said. The pair, who are based in Singapore, were questioned about potential violations of foreign direct investment rules and then told they couldn’t leave China, the FT reported. Meta announced in December that it would acquire Manus , which develops general-purpose AI agents capable of operating as digital employees, performing tasks such as research and automation with minimal prompting. Financial terms of the deal were not disclosed, but the deal reportedly valued Manus at $2 billion-$3 billion. Earlier this year, China's commerce ministry had said it would assess and investigate Meta's acquisition of Manus. More on Meta Meta Platforms: The AI Spending Spree Is Out Of Control Meta Platforms: 16x Adjusted FY2026 P/E Is A Solid Buy Delays, Compute Deals, And Sky-High CapEx: Why I'm Still Bullish On Meta Meta's Ray-Ban smart glasses EU rollout slowed by battery, AI rules and supply constraints: report Meta Platforms raises top executive pay with stock options amid intensifying AI race
jetcityimage/iStock Editorial via Getty Images Investment thesis General Electric Company ( GE ) operates in two business worlds. The first is North America, where growth is essentially flat. The second is the rest of the world and specific regions, where growth in air traffic generates growth for GE. In brief, GE now counts on its international business to provide growth, while its North American...
jetcityimage/iStock Editorial via Getty Images Investment thesis General Electric Company ( GE ) operates in two business worlds. The first is North America, where growth is essentially flat. The second is the rest of the world and specific regions, where growth in air traffic generates growth for GE. In brief, GE now counts on its international business to provide growth, while its North American operations provide stable but slow-growing revenue and earnings. This article provides an overview of GE's international business and the prospects for future growth. About GE Also known as GE Aerospace, the company calls itself, in its 10-K for 2025 , "the industry's largest and growing commercial propulsion fleet. The company's installed base of approximately 50,000 commercial and 30,000 military engines, including parked aircraft in addition to fleet in service, supports our aftermarket services business, which represents approximately 70% of revenue, reflecting the strength of customer demand across our business." Note that the firm sees engine sales as a pathway to selling more aftermarket services, with the latter delivering 70% of corporate revenue. The obvious corollary is that the more engines it sells, the greater the aftermarket opportunities. In the 10-K, management writes, "We serve customers in approximately 120 countries. Manufacturing and service operations are carried out at 70 facilities located in 23 states in the United States and Puerto Rico, of which 24 are owned, and at 62 facilities located in 23 other countries, of which 30 are owned." Engine sales represent not just current revenue but also multi-decade servicing opportunities. And as this article will show, regions such as the Middle East and India provide the most opportunities to make new sales of both engines and services. Notable, too, is GE's ability to provide power for both narrow-body and wide-body aircraft (more below). Industry overview The latest Global Market Forecast from Airbus is b...
Artificial intelligence (AI) stocks have been leading the S&P 500 higher over the past few years amid excitement about this potentially game-changing technology. Importantly, AI has started to demonstrate its strengths as companies already are generating billion-dollar revenue through sales of AI tools -- and others are seeing results as they apply these products to their businesses. Though AI sto...
Artificial intelligence (AI) stocks have been leading the S&P 500 higher over the past few years amid excitement about this potentially game-changing technology. Importantly, AI has started to demonstrate its strengths as companies already are generating billion-dollar revenue through sales of AI tools -- and others are seeing results as they apply these products to their businesses. Though AI stocks have encountered some rough patches in recent months, and the geopolitical backdrop has weighed on appetite for growth stocks, the long-term AI story remains intact. But I don't think the same AI companies will continue to lead gains year after year. My prediction is the AI stocks that win in 2026 won't be the same ones that won in 2025. Let's consider what might unfold in the months to come -- and which stocks may come out on top. Continue reading
Key PointsNvidia is down 15% from its record high due to concerns about the sustainability of AI spending, but CEO Jensen Huang expects the market to get much bigger.
Key PointsNvidia is down 15% from its record high due to concerns about the sustainability of AI spending, but CEO Jensen Huang expects the market to get much bigger.