Indonesian markets fell as speculation mounted that the government will centralize commodity exports to control capital flows and shore up a plunging currency. Palm oil futures rose. The benchmark Jakarta Composite Index fell as much as 4.2% — taking its year-to-date loss to more than 26% as the world’s worst equity performer — with energy and basic material stocks leading the decline. The currenc...
Indonesian markets fell as speculation mounted that the government will centralize commodity exports to control capital flows and shore up a plunging currency. Palm oil futures rose. The benchmark Jakarta Composite Index fell as much as 4.2% — taking its year-to-date loss to more than 26% as the world’s worst equity performer — with energy and basic material stocks leading the decline. The currency slid 0.4% against the dollar to another record low while palm oil futures in Malaysia reversed earlier losses to climb 1.8%. Traders attributed the slump to speculation about the formation of a special agency for strategic commodity exports including coal, crude palm oil and minerals. Such an organization would raise concerns about greater state control over a critical industry but also potentially help bolster government finances amid a widening fiscal deficit. The concerns are amplified by the outsized role of commodities in Indonesia’s economy. The country is a major exporter as well as the world’s largest palm oil producer, so any changes to export flows can impact currency stability as well as foreign-exchange reserves. “The market is reacting negatively because investors are worried this could add another layer of state control and policy uncertainty for commodity exporters,” said Mohit Mirpuri , a partner at SGMC Capital Pte. “In my view, the broader direction is clear: the government is doing everything it can to defend the rupiah and keep export proceeds onshore.” Representatives for sovereign wealth fund Danantara Indonesia, the Trade Ministry and the Finance Ministry did not immediately respond to requests for comment. The stock decline underscores mounting pressure on Indonesian authorities to stabilize markets amid high oil prices risks, with the rupiah weakening by nearly 6% this year. Investor sentiment has also been rattled by an upcoming MSCI Inc. decision on a potential downgrade to frontier markets following the recent removal of several large companies...
Embattled Switch 2 maker Nintendo Co. enjoyed its biggest stock gain in two months on Tuesday as concerns about overvaluation in the AI sector sent investors on the hunt for bargains elsewhere. Nintendo shares climbed as much as 6.8% in Tokyo to mark a third straight day of gains — their longest winning streak since mid-March. The advance is part of a broad rally in Japanese video game stocks that...
Embattled Switch 2 maker Nintendo Co. enjoyed its biggest stock gain in two months on Tuesday as concerns about overvaluation in the AI sector sent investors on the hunt for bargains elsewhere. Nintendo shares climbed as much as 6.8% in Tokyo to mark a third straight day of gains — their longest winning streak since mid-March. The advance is part of a broad rally in Japanese video game stocks that saw Bandai Namco Holdings Inc. and Konami Group Corp. rise more than 9% on Tuesday. The revival in Japanese gaming shares comes after months of headwinds brought on by a memory chips supply crunch and worries it will hit hardware sales. Led by Nintendo’s portfolio of beloved game characters and franchises, Japan is home to a wealth of highly valued intellectual property assets, content that companies are increasingly looking to leverage across genres and formats of entertainment. Nintendo rival Sony Group Corp. has recently shifted its focus to IP, including publishing rights for music and film. “This is all part of the rotation out of AI tech and into beaten-up names,” said Amir Anvarzadeh , Japan equity strategist at Asymmetric Advisors Pte. Tuesday’s moves “underline the growing caution about the market — massive gains in AI tech which cannot be sustainable.” Stocks that have been considered AI losers — including Nintendo, which recently marked its longest monthly losing streak in 10 years — and software makers, which risk losing their market share to AI models, are now benefiting as investors retreat from pricier tech shares like chipmakers, Anvarzadeh said. Read more: Memory Crunch Deepens Chasm Between Stock Winners and Losers Japan’s tech-heavy Nikkei 225 has gained around 20% so far this year, outrunning the S&P 500, on expectations that booming demand from AI hyperscalers will benefit the nation’s chip gear manufacturers. AI-linked stocks like memory chipmaker Kioxia Holdings Corp. and cable maker Fujikura Ltd. have helped drive the rally. Caution around tech stoc...
StefaNikolic/E+ via Getty Images Summary ACEL's stock has been rangebound since mid-2023 despite the company reporting steady earnings growth along with strong distribution of its video gaming terminals outside of its home market of Illinois. The next earnings driver will be the distribution of video gaming terminals within Chicago, which previously banned such terminals. However, I am concerned w...
StefaNikolic/E+ via Getty Images Summary ACEL's stock has been rangebound since mid-2023 despite the company reporting steady earnings growth along with strong distribution of its video gaming terminals outside of its home market of Illinois. The next earnings driver will be the distribution of video gaming terminals within Chicago, which previously banned such terminals. However, I am concerned with lower possible Chicago margins due to higher operating costs, which may not result in significant near-term earnings growth. I have a HOLD rating on the stock. Company Background Accel Entertainment ( ACEL ) is a leading gaming terminal operator along with being a developer of casinos/horse racing venues (Fairmount Park racino). ACEL provides video gaming terminals (VGTs), amusement/entertainment machines (jukeboxes and dartboards), and redemption/ATM kiosks to non-casino locations such as neighborhood bars, restaurants, and truck stops. The venues are on a gross gaming revenue-sharing agreement with Accel. In some states, the revenue split is fixed and regulated by the state, and in other jurisdictions, the revenue split is negotiated with the hosted venue. ACEL has over 4,540 locations and 28,353 gaming machines across the states of Illinois, Montana, Nevada, Nebraska, Georgia, Iowa, Louisiana, South Dakota, West Virginia, and Pennsylvania. 1Q26 Results Showed Steady Growth ACEL recently announced 1Q26 with sales of $352m (+8.5% yoy), beating expectations, but GAAP EPS of $0.17 per share was slightly below analyst forecasts of $0.18 per share. Overall, the results were solid, which showed that management continues to operate well in existing and developing markets. Management also indicated that despite macroeconomic pressures such as higher gas prices, the outlook for near-term customers has not turned negative. Other key 1Q26 operating metrics include a 3% increase in locations and a 4% increase in gaming terminals. Net income of $15m was flat yoy, and adjusted EBIT...
Zscaler (ZS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Zscaler (ZS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Stellantis NV plans to make a compact electric vehicle in Italy with China’s Leapmotor, according to people familiar with the matter, as the Fiat owner seeks ways to cut costs and access more competitive technology. Dubbed the E-Car, the model will be produced starting in 2028 at a plant in Pomigliano, Italy, Stellantis said Tuesday , adding that it’ll be powered by battery technology to be develo...
Stellantis NV plans to make a compact electric vehicle in Italy with China’s Leapmotor, according to people familiar with the matter, as the Fiat owner seeks ways to cut costs and access more competitive technology. Dubbed the E-Car, the model will be produced starting in 2028 at a plant in Pomigliano, Italy, Stellantis said Tuesday , adding that it’ll be powered by battery technology to be developed with “selected partners.” Leapmotor is the main partner, the people said, asking not to be named as the plans aren’t public. Representatives for Stellantis and Leapmotor declined to comment on the project’s partners. The maker of Opel and Peugeot cars recently announced a partnership with Leapmotor in Spain to develop an electric SUV for the European market. The agreement also involves the Chinese manufacturer making its cars at Stellantis plants in the country. More deals are coming for other underutilized Stellantis factories in Europe, France’s Force Ouvrière labor union said this month. Read More: Stellantis CEO Banks on Partnerships to Revive Fiat Maker Automakers on the continent are in the midst of a strategic overhaul that increasingly involves partnering with Chinese competitors. That’s in response to some of the same rivals expanding in Europe with affordable EVs and plug-in hybrids. BYD Co. is leading the push, underscored by its attempt to join the region’s car lobby group. Read More: China’s Carmakers Grab 30% of Europe’s Plug-In Hybrid Sales Stellantis Chairman John Elkann has been under pressure from Italian Prime Minister Giorgia Meloni ’s government to ramp up production at underused plants in the country. Other European carmakers are also dealing with high costs and intense competition, and are open to similar Chinese deals. Leapmotor already works with Stellantis on sales and distribution in Europe. Its models, including the Leapmotor T03 city car , are competing with entry-level EVs from Renault SA and Volkswagen AG. “Our customers are calling for a ...
Fujikura Ltd. shares fell as much as 17% after its three-year forecast fell short of frothy expectations about artificial intelligence’s appetite for high-density optical-fiber networks. The company said it’s targeting operating income of ¥315 billion ($2 billion) in the fiscal year starting April 2028, falling far short of the average analyst estimate of ¥455 billion. The Tokyo-based company has ...
Fujikura Ltd. shares fell as much as 17% after its three-year forecast fell short of frothy expectations about artificial intelligence’s appetite for high-density optical-fiber networks. The company said it’s targeting operating income of ¥315 billion ($2 billion) in the fiscal year starting April 2028, falling far short of the average analyst estimate of ¥455 billion. The Tokyo-based company has seen double—digit profit growth on demand for its optical cables and connectors for AI data centers. Production capacity will remain insufficient even after its upcoming plant in Sakura, Chiba prefecture comes online, Fujikura President Naoki Okada has said. But shares of Fujikura have plunged about 40% in just four days after its outlook missed expectations heightened by rampant spending on next-generation AI hardware. Concerns are also growing about rising costs for raw materials as the war in the Middle East enters its third month. Read more: How Hormuz Blockade Is Disrupting Chip Supply Chains: Explainer Fujikura is one of a handful of companies alongside SoftBank Group Corp. in the so-called Portsmouth consortium that are commissioned to build out AI and data center infrastructure in the US. Fujikura has said it plans to invest ¥300 billion to boost production capacity in both Japan and the U.S. to meet demand from that project.
Torsten Asmus/iStock via Getty Images Introduction The Vanguard Utilities ETF ( VPU ) tracks the MSCI US Investable Market Utilities 25/50 Index, with 71 holdings, AUM of roughly $10.8 billion, and an expense ratio of 0.09%, one of the cheapest in this industry. The utilities sector has been going through a transformation since utility stocks were treated like bonds for decades, with stable cash f...
Torsten Asmus/iStock via Getty Images Introduction The Vanguard Utilities ETF ( VPU ) tracks the MSCI US Investable Market Utilities 25/50 Index, with 71 holdings, AUM of roughly $10.8 billion, and an expense ratio of 0.09%, one of the cheapest in this industry. The utilities sector has been going through a transformation since utility stocks were treated like bonds for decades, with stable cash flow, low volatility, regular dividends, and a negative correlation with interest rates. But I don't think the market has fully priced it yet, and I believe this scenario has changed a bit. The FOMC kept the Fed fund rates between 3.5% and 3.75% in the last meeting, in March, and the Fed fund rates were expected to decrease by 0.25% in 2026 and 0.25% in 2027 at the time. Moreover, the 10-year treasury yield is still high, close to 4.3%. Historically, a high 10-year treasury yield penalizes utilities, and it has been the case again. VPU is up 1.85% YTD , while the S&P 500 is up by 8.4% in the same period. This gap can be explained by a rotation into tech companies. When I look at a broader time frame, VPU is up roughly 50% from its five-year low, which happened about 30 months ago. I see an opportunity here, with a more attractive entry point compared to 3 months ago. Why VPU Still Works Companies in the electric utilities sector have the biggest share in the ETF, followed by multi-utilities, natural gas, independent power producers, and water utilities, with the top ten holdings accounting for roughly 52% of the ETF. Seeking Alpha Because the ETF is cap-weighted, we can see a rotation among the holdings . NextEra represented 10% previously; now it's close to 12.7%, representing an outperformance compared to the other holdings, while Constellation went from 7.3% to 5.5%, with capital moving from IPPs to regulated utilities. This rotation was probably caused by both a correction in the hype around IPPs (as some markets began imposing stricter requirements on data center commit...
Moonshot AI has informed its investors it will revamp its corporate structure to pave the way for an initial public offering in Hong Kong, aligning with Beijing’s tightened requirements for Chinese companies seeking an overseas debut. In an email sent to shareholders this week, Moonshot said it would begin dismantling its so-called red-chip structure, according to people familiar with the matter. ...
Moonshot AI has informed its investors it will revamp its corporate structure to pave the way for an initial public offering in Hong Kong, aligning with Beijing’s tightened requirements for Chinese companies seeking an overseas debut. In an email sent to shareholders this week, Moonshot said it would begin dismantling its so-called red-chip structure, according to people familiar with the matter. That particular setup follows a decades-old practice in which entities registered outside China hold assets and businesses within the country. The Beijing-based startup’s move reflects how Chinese officials are looking to strengthen oversight and simplify compliance following a flurry of IPOs in Hong Kong over the past year, partly to mitigate the risks of capital flight through such listings. Beijing is restricting red-chip firms from seeking IPOs in Hong Kong, and some companies have already been asked by the Chinese securities regulator to overhaul their structure before proceeding with listings in the city, Bloomberg News has reported . Chinese authorities are encouraging companies to reorganize under mainland incorporation instead. Read: China Clamps Down on Key Route to Hong Kong IPOs After Boom Moonshot AI raised about $2 billion in its latest funding round at a valuation of more than $20 billion, signaling growing appetite for Chinese startups rivaling Silicon Valley’s leaders. The overhaul for now won’t affect its access to US dollar-denominated funds, the people said. Its backers include prominent firms such as 5Y, IDG , HSG , Capital Today , ZhenFund , Alibaba Group Holding Ltd. and Tencent Holdings Ltd . The US dollar funds can keep their investments in Moonshot as the firm is planning to set up a joint venture structure that allows foreign backers, the people added. Representatives for Moonshot didn’t respond to a request for comment. 5Y declined to comment. Representatives from investors including IDG, HSG, Capital Today, ZhenFund, Alibaba and Tencent didn’t i...
(Bloomberg) -- Moonshot AI has informed its investors it will revamp its corporate structure to pave the way for an initial public offering in Hong Kong, aligning with Beijing’s tightened requirements for Chinese companies seeking an overseas debut. Most Read from BloombergUS Lawmakers Plan New $130 Fee for Electric Vehicle OwnersBillionaire Rinehart Bets $100 Million on US Defense StocksStocks an...
(Bloomberg) -- Moonshot AI has informed its investors it will revamp its corporate structure to pave the way for an initial public offering in Hong Kong, aligning with Beijing’s tightened requirements for Chinese companies seeking an overseas debut. Most Read from BloombergUS Lawmakers Plan New $130 Fee for Electric Vehicle OwnersBillionaire Rinehart Bets $100 Million on US Defense StocksStocks and Oil Whipsaw on Mixed US-Iran Signals: Markets WrapTrump Says Holding Off on New Iran Strikes After
Torsten Asmus/iStock via Getty Images The market environment has shifted repeatedly over the past year, driven by a combination of policy uncertainty, geopolitical developments, and changing financial conditions. Beginning in April 2025, amid heightened trade tensions, markets experienced notable volatility before settling into relatively calmer conditions after the U.S. Supreme Court overturned k...
Torsten Asmus/iStock via Getty Images The market environment has shifted repeatedly over the past year, driven by a combination of policy uncertainty, geopolitical developments, and changing financial conditions. Beginning in April 2025, amid heightened trade tensions, markets experienced notable volatility before settling into relatively calmer conditions after the U.S. Supreme Court overturned key elements of the administration's tariff framework. While this uncertainty left investors uneasy during the initial weeks of Trump's second administration, sentiment gradually improved as markets stabilized through the first two months of 2026. That calm was tested on February 28, when renewed conflict in the Middle East reintroduced geopolitical risk and reignited market volatility. As is often the case during periods of heightened uncertainty, these developments prompted concerns about inflation, economic growth, and the durability of the expansion. History suggests that while such episodes can be unsettling, they are rarely rewarded by abandoning long-term investment plans. Periods of volatility have consistently tested investor discipline—but they have also reinforced the value of staying invested. Navigating the current economic landscape Assessing the economic impact of renewed conflict in the Middle East remains challenging, particularly given its implications for global supply chains and energy markets. As long as the Strait of Hormuz remains closed, oil prices are likely to remain elevated. Beyond energy, other commodities critical to global growth move through the strait, including roughly 60% of global limestone flux used in construction, cement, and infrastructure, 50% of sulfur, 23% of nitrogenous fertilizer, and 30% of global helium supply. The latter is especially noteworthy, as helium is a key component of semiconductor manufacturing, an industry that represents a meaningful concentration within major equity indices. Despite these pressures, the U.S. econo...
LONDON and PHILADELPHIA, May 19, 2026 (GLOBE NEWSWIRE) -- Avacta Therapeutics (AIM: AVCT, “the Company”, “Avacta”), a clinical stage biopharmaceutical company developing pre|CISION, a tumor-activated oncology delivery platform today published its unaudited preliminary results for the 12 months ended December 31, 2025 ("FY25").
LONDON and PHILADELPHIA, May 19, 2026 (GLOBE NEWSWIRE) -- Avacta Therapeutics (AIM: AVCT, “the Company”, “Avacta”), a clinical stage biopharmaceutical company developing pre|CISION, a tumor-activated oncology delivery platform today published its unaudited preliminary results for the 12 months ended December 31, 2025 ("FY25").
Stellantis ( STLA ) Tuesday announced the launch of its small and affordable E-Car project; the first E-Cars are expected to roll off the production line in 2028. The “E” in E-Car stands for European, emotion, electric and environmental friendliness. This high potential segment, to be produced in Europe for Europeans, "has been recognized by the European Commission for its potential to boost Europ...
Stellantis ( STLA ) Tuesday announced the launch of its small and affordable E-Car project; the first E-Cars are expected to roll off the production line in 2028. The “E” in E-Car stands for European, emotion, electric and environmental friendliness. This high potential segment, to be produced in Europe for Europeans, "has been recognized by the European Commission for its potential to boost European design and manufacturing jobs," the company said . With the assignment of the E-Car to Pomigliano – and the potential of significant production volumes – Stellantis is tapping into the plant’s long history of producing some of Europe’s most iconic and affordable cars, including the much-loved Fiat Panda. More on Stellantis Stellantis: A EUR130M Bet To Rebuild After A EUR22B Wreck (Rating Upgrade) Stellantis N.V. (STLA) Q1 2026 Earnings Call Transcript Stellantis N.V. 2026 Q1 - Results - Earnings Call Presentation Stellantis, Dongfeng to co-produce Jeep and Peugeot vehicles in China for global markets FDIC approval clears path for Stellantis' banking ambitions