Robert Way/iStock Editorial via Getty Images With the Strait of Hormuz still closed, Italian banking giant Intesa Sanpaolo ( ISNPY ) ( IITSF ) faces plenty of near-term uncertainty. Bearish scenarios will be well-known by now, but in short, higher commodity prices pose a threat to corporate and household finances, which could result in a steep rise in credit losses for European banks. Given upward...
Robert Way/iStock Editorial via Getty Images With the Strait of Hormuz still closed, Italian banking giant Intesa Sanpaolo ( ISNPY ) ( IITSF ) faces plenty of near-term uncertainty. Bearish scenarios will be well-known by now, but in short, higher commodity prices pose a threat to corporate and household finances, which could result in a steep rise in credit losses for European banks. Given upwards pressure on expenses, higher inflation could also crimp pre-provision earnings. Both formed key planks of Intesa's 2026-2029 business plan, revealed just a few weeks before the war began. I last covered Intesa in February. Rating it "Buy", I liked the implications of the above-mentioned medium-term plan. In short, management is guiding for €11.5 billion in net income by 2029, equal to a CAGR of 5% relative to 2025's print (€9.3 billion), and intends to pay out 95% to shareholders. The market cap was €107 billion at the time, meaning investors were essentially looking at a 9-10% return simply through dividends and buybacks. Underpinning that, Intesa's earnings have been incredibly resilient in the face of lower interest rates in the Eurozone. Since then, Intesa has released a fresh set of quarterly results, and with the war in Iran possibly transforming the economic environment, now is a good time to review that rating. Credit Risks Are Real, But No Signs Of Trouble Just Yet Intesa posted net income of €2.761 billion for Q1 2026, a new quarterly record for the bank. This was nearly 6% higher than the year-ago period and translated to an excellent 25% return on tangible equity. Per above, last quarter's bottom line was also well within management's 2026-2029 framework. Intesa Sanpaolo Q1 2026 Results Presentation While Intesa's pre-provision performance has been critical in achieving this level of profitability, asset quality has also been an important factor. Credit charges were €170 million last quarter, equal to an annualized rate of just 16 basis points of total loans. ...
AI chipmaker Nvidia (NVDA 1.78%) managed to largely hold onto a sharp gain over the last 30 days when it reported earnings. Though the stock fell about 1.8% during the first trading day following its report, the stock is up 9.8% over the last 30 days. The quarterly numbers and the outlook for the period ahead were both exceptional. But tucked into the same release was a capital return announcement...
AI chipmaker Nvidia (NVDA 1.78%) managed to largely hold onto a sharp gain over the last 30 days when it reported earnings. Though the stock fell about 1.8% during the first trading day following its report, the stock is up 9.8% over the last 30 days. The quarterly numbers and the outlook for the period ahead were both exceptional. But tucked into the same release was a capital return announcement that quickly grabbed attention. Nvidia said its board approved a 25-fold increase to the quarterly dividend, lifting it from $0.01 per share to $0.25. That works out to a 2,400% raise and puts the annualized payout at $1.00 per share. The board also approved an additional $80 billion in share repurchase authorization, on top of the $38.5 billion remaining at the end of the quarter. But the dividend headline, eye-catching as it may be, wasn't even the biggest story in the report. The underlying business is growing at a pace that arguably makes the capital return look modest. A historic capital return The new payout is still small relative to Nvidia's stock price -- the annualized dividend yields around 0.4% at recent levels. But the move says something about how the company is thinking about its swelling pile of cash. Nvidia generated about $48.6 billion of free cash flow during fiscal Q1, up from $26.1 billion in the year-ago quarter. And it returned a record $20 billion to shareholders during the quarter through buybacks and dividends -- the largest single-quarter capital return in the company's history. Combined with what was left on the previous authorization, the new $80 billion brings Nvidia's total available repurchase capacity to nearly $120 billion. That is a meaningful sum even for a company the size of Nvidia. And it suggests that share repurchases, rather than the dividend, will continue to do most of the heavy lifting when it comes to returning cash to shareholders. The bigger news While the capital return announcement sounds great on paper, the more impressive...
Key Points Nvidia's fiscal first-quarter revenue rose 85% year over year, accelerating again. The board lifted the quarterly dividend from $0.01 to $0.25 and added $80 billion to its share repurchase authorization. Management's fiscal second-quarter guidance implies further acceleration. 10 stocks we like better than Nvidia › AI chipmaker Nvidia (NASDAQ: NVDA) managed to largely hold onto a sharp ...
Key Points Nvidia's fiscal first-quarter revenue rose 85% year over year, accelerating again. The board lifted the quarterly dividend from $0.01 to $0.25 and added $80 billion to its share repurchase authorization. Management's fiscal second-quarter guidance implies further acceleration. 10 stocks we like better than Nvidia › AI chipmaker Nvidia (NASDAQ: NVDA) managed to largely hold onto a sharp gain over the last 30 days when it reported earnings. Though the stock fell about 1.8% during the first trading day following its report, the stock is up 9.8% over the last 30 days. The quarterly numbers and the outlook for the period ahead were both exceptional. But tucked into the same release was a capital return announcement that quickly grabbed attention. Nvidia said its board approved a 25-fold increase to the quarterly dividend, lifting it from $0.01 per share to $0.25. That works out to a 2,400% raise and puts the annualized payout at $1.00 per share. The board also approved an additional $80 billion in share repurchase authorization, on top of the $38.5 billion remaining at the end of the quarter. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » But the dividend headline, eye-catching as it may be, wasn't even the biggest story in the report. The underlying business is growing at a pace that arguably makes the capital return look modest. A historic capital return The new payout is still small relative to Nvidia's stock price -- the annualized dividend yields around 0.4% at recent levels. But the move says something about how the company is thinking about its swelling pile of cash. Nvidia generated about $48.6 billion of free cash flow during fiscal Q1, up from $26.1 billion in the year-ago quarter. And it returned a record $20 billion to shareholders during the quarter through buybacks and dividen...
AI chipmaker Nvidia (NASDAQ: NVDA) managed to largely hold onto a sharp gain over the last 30 days when it reported earnings. Though the stock fell about 1.8% during the first trading day following its report, the stock is up 9.8% over the last 30 days. The quarterly numbers and the outlook for the period ahead were both exceptional. But tucked into the same release was a capital return announceme...
AI chipmaker Nvidia (NASDAQ: NVDA) managed to largely hold onto a sharp gain over the last 30 days when it reported earnings. Though the stock fell about 1.8% during the first trading day following its report, the stock is up 9.8% over the last 30 days. The quarterly numbers and the outlook for the period ahead were both exceptional. But tucked into the same release was a capital return announcement that quickly grabbed attention. Nvidia said its board approved a 25-fold increase to the quarterly dividend, lifting it from $0.01 per share to $0.25. That works out to a 2,400% raise and puts the annualized payout at $1.00 per share. The board also approved an additional $80 billion in share repurchase authorization, on top of the $38.5 billion remaining at the end of the quarter. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » But the dividend headline, eye-catching as it may be, wasn't even the biggest story in the report. The underlying business is growing at a pace that arguably makes the capital return look modest. Image source: Getty Images. A historic capital return The new payout is still small relative to Nvidia's stock price -- the annualized dividend yields around 0.4% at recent levels. But the move says something about how the company is thinking about its swelling pile of cash. Nvidia generated about $48.6 billion of free cash flow during fiscal Q1, up from $26.1 billion in the year-ago quarter. And it returned a record $20 billion to shareholders during the quarter through buybacks and dividends -- the largest single-quarter capital return in the company's history. Combined with what was left on the previous authorization, the new $80 billion brings Nvidia's total available repurchase capacity to nearly $120 billion. That is a meaningful sum even for a company the size of Nvidia. And it ...
When Air Force One touched down in Beijing, one of the most photographed passengers was Boeing’s chief executive, Kelly Ortberg , there to close a deal. Washington had come to sell aircraft. Beijing was buying something else. The last time this scene played out in 2017, China signed an agreement for 300 Boeing aircraft. Since then, it has pursued an industrial programme aimed at reducing dependenc...
When Air Force One touched down in Beijing, one of the most photographed passengers was Boeing’s chief executive, Kelly Ortberg , there to close a deal. Washington had come to sell aircraft. Beijing was buying something else. The last time this scene played out in 2017, China signed an agreement for 300 Boeing aircraft. Since then, it has pursued an industrial programme aimed at reducing dependence on precisely such orders. That effort has not failed, but neither has it advanced at the pace imagined. The gap between delay and abandonment is what gives last week’s agreement significance. China needs Boeing aircraft. Passenger demand continues to grow across major cities and regional hubs: Chinese airlines require hundreds more narrowbody jets over the coming decade. Commercial Aircraft Corporation of China (Comac), the state-backed maker of the C919, remains years from matching Boeing or Airbus in manufacturing depth and global service capability. Production ambitions still exceed deliveries, with Comac depending heavily on foreign components and technical expertise. Advertisement Beijing is aware of these constraints. Civil aviation cannot be subordinated to industrial ambition alone. Airlines require reliable aircraft to sustain tourism, logistics and domestic mobility. Boeing and Airbus remain operationally indispensable, whatever the longer-term trajectory. Yet Chinese industrial policy has long accepted short-term dependence as the price of longer-term autonomy. Boeing orders stabilise fleet expansion while easing pressure on a more difficult question: whether China can build a commercially credible aviation industry before external conditions become more restrictive. Advertisement
Key Points Granahan Investment Management sold 2,470,110 shares of Genius Sports Limited in the first quarter; the estimated transaction value was $17.59 million based on first-quarter 2026 average pricing. The quarter-end position value fell by $62.70 million, reflecting both trading and market price changes. The post-sale holding stood at 5,383,762 shares valued at $23.85 million. 10 stocks we l...
Key Points Granahan Investment Management sold 2,470,110 shares of Genius Sports Limited in the first quarter; the estimated transaction value was $17.59 million based on first-quarter 2026 average pricing. The quarter-end position value fell by $62.70 million, reflecting both trading and market price changes. The post-sale holding stood at 5,383,762 shares valued at $23.85 million. 10 stocks we like better than Genius Sports › Granahan Investment Management, LLC reduced its stake in Genius Sports Limited (NYSE:GENI) by 2,470,110 shares in first-quarter 2026, an estimated $17.59 million transaction based on quarterly average pricing, according to a May 15, 2026, SEC filing. What happened According to its SEC filing dated May 15, 2026, Granahan Investment Management sold 2,470,110 shares of Genius Sports Limited during the first quarter. The estimated value of shares sold was $17.59 million, calculated using the quarter’s average share price. The fund ended the quarter holding 5,383,762 shares, with a value of $23.85 million at March 31, 2026. What else to know This sale reduced Genius Sports Limited’s weighting in the fund to 1.15% of 13F AUM, down from 2.00% the previous quarter. Top holdings after the filing: NYSE: CRS: $94.39 million (4.6% of AUM) NASDAQ: PRCH: $90.88 million (4.4% of AUM) NASDAQ: FTAI: $83.38 million (4.0% of AUM) NYSE: MOD: $81.83 million (4.0% of AUM) NASDAQ: VCTR: $71.20 million (3.4% of AUM) As of Thursday, shares of Genius Sports Limited were priced at $4.89, down 50% over the past year and well underperforming the S&P 500, which is instead up about 27%. Company Overview Metric Value Price (as of market close 2026-05-14) $4.89 Market Capitalization $1.31 billion Revenue (TTM) $713.45 million Net Income (TTM) ($158.85 million) Company Snapshot Genius Sports offers technology infrastructure, live data collection, streaming solutions, integrity services, and fan engagement tools for the sports, sports betting, and sports media industries. The ...
D-Wave Quantum (QBTS +33.37%) stock closed out Thursday's trading session with massive gains. The company's share price gained 33.4% in the daily session. The quantum computing specialist's valuation surged following news that the company is on track to receive funding through the CHIPS and Science Act. Even with today's massive pop, D-Wave stock is still down roughly 1% year to date. D-Wave looks...
D-Wave Quantum (QBTS +33.37%) stock closed out Thursday's trading session with massive gains. The company's share price gained 33.4% in the daily session. The quantum computing specialist's valuation surged following news that the company is on track to receive funding through the CHIPS and Science Act. Even with today's massive pop, D-Wave stock is still down roughly 1% year to date. D-Wave looks poised for CHIPS Act funding With a press release it published today, D-Wave announced that it was on track to receive $100 million in funding through the U.S. Department of Commerce. The company said that it had received a letter of intent for a $100 million investment through the CHIPS Act. In exchange for the funding, D-Wave will provide the Department of Commerce with $100 million worth of shares. Expand NYSE : QBTS D-Wave Quantum Today's Change ( 33.37 %) $ 6.44 Current Price $ 25.74 Key Data Points Market Cap $7.1B Day's Range $ 21.61 - $ 25.83 52wk Range $ 12.75 - $ 46.75 Volume 119.1M Avg Vol 26.8M Gross Margin 32.92 % What's next for D-Wave? The U.S. government's pending investment in D-Wave represents a significant vote of confidence in the quantum-computing specialist. While the investment hasn't been closed yet, it seems very likely that the deal will go through. With the Department of Commerce seemingly set to invest $100 million in D-Wave through the CHIPS Act, the quantum-computing company has seemingly secured major backing from a very powerful and influential source. While the outlook for D-Wave and the broader semiconductor space remains highly speculative, growing support from the U.S. government is a very positive development.
Key Points D-Wave stock surged today following news that the company is on track to receive CHIPS Act funding. D-Wave is set to receive $100 million for the sale of new stock to the U.S. Department of Commerce. 10 stocks we like better than D-Wave Quantum › D-Wave Quantum (NYSE: QBTS) stock closed out Thursday's trading session with massive gains. The company's share price gained 33.4% in the dail...
Key Points D-Wave stock surged today following news that the company is on track to receive CHIPS Act funding. D-Wave is set to receive $100 million for the sale of new stock to the U.S. Department of Commerce. 10 stocks we like better than D-Wave Quantum › D-Wave Quantum (NYSE: QBTS) stock closed out Thursday's trading session with massive gains. The company's share price gained 33.4% in the daily session. The quantum computing specialist's valuation surged following news that the company is on track to receive funding through the CHIPS and Science Act. Even with today's massive pop, D-Wave stock is still down roughly 1% year to date. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » D-Wave looks poised for CHIPS Act funding With a press release it published today, D-Wave announced that it was on track to receive $100 million in funding through the U.S. Department of Commerce. The company said that it had received a letter of intent for a $100 million investment through the CHIPS Act. In exchange for the funding, D-Wave will provide the Department of Commerce with $100 million worth of shares. What's next for D-Wave? The U.S. government's pending investment in D-Wave represents a significant vote of confidence in the quantum-computing specialist. While the investment hasn't been closed yet, it seems very likely that the deal will go through. With the Department of Commerce seemingly set to invest $100 million in D-Wave through the CHIPS Act, the quantum-computing company has seemingly secured major backing from a very powerful and influential source. While the outlook for D-Wave and the broader semiconductor space remains highly speculative, growing support from the U.S. government is a very positive development. Should you buy stock in D-Wave Quantum right now? Before you buy stock in D-Wave Quant...
On May 15, 2026, Granahan Investment Management, LLC disclosed it sold 1,593,143 shares of Zeta Global (NYSE:ZETA) in the first quarter, an estimated $29.50 million trade based on quarterly average pricing. According to a SEC filing dated May 15, 2026, Granahan Investment Management, LLC reduced its stake in Zeta Global (NYSE:ZETA) by 1,593,143 shares during the first quarter. The estimated transa...
On May 15, 2026, Granahan Investment Management, LLC disclosed it sold 1,593,143 shares of Zeta Global (NYSE:ZETA) in the first quarter, an estimated $29.50 million trade based on quarterly average pricing. According to a SEC filing dated May 15, 2026, Granahan Investment Management, LLC reduced its stake in Zeta Global (NYSE:ZETA) by 1,593,143 shares during the first quarter. The estimated transaction value was $29.50 million, based on the average closing price for the period. The fund’s quarter-end position value in Zeta Global declined by $36.96 million, a figure that includes both the impact of the share sale and changes in the stock’s price. Zeta Global is a technology company specializing in software applications for marketing automation and consumer data analytics. It leverages proprietary machine learning algorithms and a large opted-in data set to deliver actionable insights for enterprise customers. Its scalable cloud platform and integrated product suite position it competitively in the data-driven marketing technology sector. Continue reading
GoodLifeStudio/iStock Unreleased via Getty Images Yesterday, Booking ( BKNG ) CEO Glenn Fogel appeared at the JP Morgan Annual TMT Conference. On the same day, Brian Chesky from Airbnb ( ABNB ) released their annual summer release. Both companies are increasingly encroaching into each other’s territories, so it was interesting to hear them both on the same day. Both CEOs wanted to establish the lo...
GoodLifeStudio/iStock Unreleased via Getty Images Yesterday, Booking ( BKNG ) CEO Glenn Fogel appeared at the JP Morgan Annual TMT Conference. On the same day, Brian Chesky from Airbnb ( ABNB ) released their annual summer release. Both companies are increasingly encroaching into each other’s territories, so it was interesting to hear them both on the same day. Both CEOs wanted to establish the long-term resilience of travel demand. It is a common observation among investors that travel demand is highly discretionary in nature and hence can be vulnerable to near-term macro uncertainties. It kind of reminds me of the common trap many investors find themselves in for companies that generate revenue from advertising. Haven’t we all heard how Google ( GOOG ) ( GOOGL ) and Meta’s ( META ) advertising revenues are “cyclical,” even though it can be really, really hard to see a “cycle” if you take a look at their financials? Never mind that the very nature of direct response advertising is fundamentally different from brand advertising from our grandparents days. Similarly, while travel demand can indeed be deeply affected in the near term by a multitude of macro factors (war, recession, oil price, pandemic… take your pick), one of the higher conviction predictions you can perhaps make about the next couple of decades is that the average number of trips per thousand people globally will keep increasing. Fogel reminded us that such a secular tailwind is still very much in place: “…long term, travel has always in the past, and I absolutely believe always in the future, will be a growth industry. No matter how you want to measure it, you can look back over a number of implements, you can go back and just look at any statistics about total spend on travel. It has exceeded global GDP by 1% to 2% for a very, very, very long time.And it’s obvious to see why. As people get wealthier, they generally want to travel more. You have the basics of people who are too poor to travel, enter...