hapabapa/iStock Editorial via Getty Images Whenever we talk about Palantir Technologies Inc. ( PLTR ), almost every analyst can name one thing—the stock is overvalued. And I see a lot of people always defending the stock that the valuation does not really matter if it grows. Sadly, recent earnings showed a completely different scenario. Q1 results from the first sight look very good, and for my ki...
hapabapa/iStock Editorial via Getty Images Whenever we talk about Palantir Technologies Inc. ( PLTR ), almost every analyst can name one thing—the stock is overvalued. And I see a lot of people always defending the stock that the valuation does not really matter if it grows. Sadly, recent earnings showed a completely different scenario. Q1 results from the first sight look very good, and for my kind of momentum strategy, I would jump right in. Revenue growth was 85% YoY, U.S. revenue grew 104%, the U.S. commercial segment grew 133%, and adjusted EPS reached $0.33. More importantly, the management even increased guidance for 2026, which shows that the growth story did not end. Normally results like these should push the stock up, but reality as of today is different. This is the reason why I believe we should now focus less on the results but more on stock reaction. After a beat-and-raise quarter, PLTR shares dropped about 7%. To be fair, we know the strategy called "sell the news." What does it say to us? The problem is not in business quality. The problem is that the market has priced in beyond the perfect scenario, and investors are not buying the story; they are selling into strength. In other words, the results were actually good, but they were not good enough for the current share price. For my strategy, this is a completely red flag. When a strong stock, after strong results, drops, it signals that overvaluation has caught up with it. Ideally, I always look for new impulse or at least results holding the share price. But when the company announced 85% revenue growth, a strong EPS beat, and increased guidance, and shares still dropped, this means that expectations were too high. We could even say this is a priced-to-perfection situation, where everything must be so perfect that perfect is not good enough anymore. Then the risk-to-reward ratio quickly changes. My Main Argument The problem I have with Palantir is that the market still values the company as a soft...
Klaus Vedfelt/DigitalVision via Getty Images The April jobs report delivered another month of resilient payroll growth and a stable headline unemployment rate, offering little evidence that the labor market is either rapidly deteriorating or reaccelerating. Beneath the surface, however, the details were somewhat softer, with labor force participation easing, household employment declining, and bro...
Klaus Vedfelt/DigitalVision via Getty Images The April jobs report delivered another month of resilient payroll growth and a stable headline unemployment rate, offering little evidence that the labor market is either rapidly deteriorating or reaccelerating. Beneath the surface, however, the details were somewhat softer, with labor force participation easing, household employment declining, and broader measures of labor underutilization moving higher. Wage growth remained firm but generally consistent with the broader disinflationary trend. Altogether, the report is unlikely to materially shift the Federal Reserve’s outlook, leaving policymakers focused on balancing a gradually cooling labor market against still-elevated inflation pressures. Establishment Data BLS After a period of choppy month-to-month jobs data, the April jobs report delivers the second straight month of job gains for the first time in a year. Nonfarm payroll employment increased by 115,000 to start the second quarter, building on the job growth of 185,000 in March. The number was ahead of the consensus estimate of growth of 75,000 and, by all means, a comfortably strong read of labor demand. The advance estimate for April was not diluted much by revisions, as the BLS reported that only 23,000 jobs were lost to adjustments to the February and March headline job gains: February was revised down by 23,000 to -156,000, and March was revised up by 7,000 to 185,000. BLS The details of the employment growth show a lot of the same labor market trends that we have observed in the last year or so: The private sector continues to be the primary source of job growth, and in April’s case, it added all of the jobs. Private employment increased by 123,000, beating expectations of a 73,000 rise and even topping the ADP print of an increase of 109,000. Government payrolls, on the other hand, fell for the third straight month, down -8,000 in April, led by a further decline in federal employment. Within the private ...
OnlyFans , the platform best known for adult content, agreed to sell a minority stake to Architect Capital in a deal that values the British company at about $3.15 billion. San Francisco-based Architect Capital agreed to buy about 16% of the business for $535 million, the companies said in a statement on Friday. As part of the deal, Architect would work with OnlyFans, operated by UK-based Fenix In...
OnlyFans , the platform best known for adult content, agreed to sell a minority stake to Architect Capital in a deal that values the British company at about $3.15 billion. San Francisco-based Architect Capital agreed to buy about 16% of the business for $535 million, the companies said in a statement on Friday. As part of the deal, Architect would work with OnlyFans, operated by UK-based Fenix International Ltd., to develop new financial services and products to offer the platform’s creators, they said. The sale follows the death last month of OnlyFans owner Leonid Radvinsky at 43. The company, which is held in his family trust, has been exploring a sale of part of its business for at least a year, but progress has been slow. It generates significant revenue and a generous dividend for its owner, but its association with sex work has narrowed the field of potential investors, deterring mainstream funds and institutions concerned about reputational risk and regulatory scrutiny. Read More: Leonid Radvinsky, Who Changed Porn With OnlyFans, Dies at 43 Founded in 2016 by British father and son Guy and Tim Stokely, OnlyFans hosted pornographic material forbidden on most social networks. Radvinsky, a secretive, Florida-based billionaire, bought a majority stake in the platform in 2018 and turned it into a cultural phenomenon by allowing creators to charge directly for their content. It shot to prominence during pandemic lockdowns, when adult film actors and sex workers turned to the platform for alternative sources of income. Radvinsky had sought to sell a 60% stake that would give OnlyFans an enterprise value of around $5.5 billion. Architect Capital, a little-known investment firm, held talks to lead an offer for equity and around $2 billion in debt, Bloomberg News previously reported. Read More: OnlyFans in Talks to Sell Stake Valuing Firm at $3.5 Billion Radvinsky paid himself about $1.8 billion in dividends from the platform since 2021. His net worth was $3.8 billion...
Beware the wind | The ‘Brailsford’ apple | National treasures | Local election results | Andy Burnham’s plight I had a similar experience to Zoe Williams ( The day had come to scatter my mum’s ashes. What could possibly go wrong?, 5 May ) when I scattered my dad’s ashes near the first tee at his golf club. After reaching into the urn and grabbing a large handful of his ashes, I threw them into the...
Beware the wind | The ‘Brailsford’ apple | National treasures | Local election results | Andy Burnham’s plight I had a similar experience to Zoe Williams ( The day had come to scatter my mum’s ashes. What could possibly go wrong?, 5 May ) when I scattered my dad’s ashes near the first tee at his golf club. After reaching into the urn and grabbing a large handful of his ashes, I threw them into the air only to have them all blown back at me by a sudden gust of wind. Friends always said I looked very much like him and I felt a tremendous sense of pride as parts of him went into every orifice. Bob Dawson Greenmount, Greater Manchester • Glad to read about the campaign to save the mother of Bramley apples tree ( Report, 5 May ). How about a campaign to rename the apple itself the “Brailsford” apple? It’s surely time to reverse the patriarchal appropriation of Mary Ann Brailsford’s beautiful tree and her stunning apple by Matthew Bramley in cahoots with Henry Merrweather. Vicky Barnes Condover, Shropshire Continue reading...
Key PointsArcher stock posted a double-digit gain last month as hopes for de-escalation with Iran helped support bullish momentum for the broader market.
Key PointsArcher stock posted a double-digit gain last month as hopes for de-escalation with Iran helped support bullish momentum for the broader market.
China’s international arbitration efforts have made significant progress, but more work is needed to attract foreign parties to arbitrate in China amid US-China rivalry, according to arbitrators and law scholars. China’s newly revised Arbitration Law took effect in March, marking the most significant overhaul of the country’s commercial dispute framework since 1994, in a move to promote cities suc...
China’s international arbitration efforts have made significant progress, but more work is needed to attract foreign parties to arbitrate in China amid US-China rivalry, according to arbitrators and law scholars. China’s newly revised Arbitration Law took effect in March, marking the most significant overhaul of the country’s commercial dispute framework since 1994, in a move to promote cities such as Beijing, Shanghai and Shenzhen to develop into international arbitration centres, competing...
IREN (NASDAQ: IREN) , a former Bitcoin miner that converted to an artificial intelligence (AI) data center company, scored a major win today after announcing a deal and strategic partnership with AI chip giant Nvidia . Under the partnership, IREN will deploy up to 5 gigawatts of Nvidia's DSX-branded infrastructure across its global data center footprint to run AI workloads. IREN will also give Nvi...
IREN (NASDAQ: IREN) , a former Bitcoin miner that converted to an artificial intelligence (AI) data center company, scored a major win today after announcing a deal and strategic partnership with AI chip giant Nvidia . Under the partnership, IREN will deploy up to 5 gigawatts of Nvidia's DSX-branded infrastructure across its global data center footprint to run AI workloads. IREN will also give Nvidia the right over the next five years to buy up to 30 million shares at a strike price of $70, giving Nvidia the option to purchase an overall $2.1 billion stake in the company. Continue reading
Earnings Call Insights: SiriusPoint (SPNT) Q1 2026 Management View "We've started the year with a strong first quarter, continuing to build on our performance momentum," said CEO Scott Egan, highlighting "a core combined ratio of 88.9%, the lowest we've reported in 6 quarters," Insurance & Services gross written premium growth of "8%," operating ROE of "15.3%," GAAP ROE of "17.4%" tied to "the clo...
Earnings Call Insights: SiriusPoint (SPNT) Q1 2026 Management View "We've started the year with a strong first quarter, continuing to build on our performance momentum," said CEO Scott Egan, highlighting "a core combined ratio of 88.9%, the lowest we've reported in 6 quarters," Insurance & Services gross written premium growth of "8%," operating ROE of "15.3%," GAAP ROE of "17.4%" tied to "the closure of the Arcadian sale," and a "BSCR ratio of 242%." (CEO Scott Egan) "We have redeemed $200 million of preference shares" and "have bought back over $40 million of common shares," and "we are increasing our $100 million buyback intention... by... another $74 million" to a total of "$174 million," alongside "financial strength ratings... upgraded to A" by S&P, Fitch, and AM Best. (CEO Egan) "We delivered a strong first quarter, reflecting disciplined underwriting, lower catastrophe volatility and continued progress in reshaping the portfolio," including "gross written premium... $1 billion," "core combined ratio... 88.9%," "$71 million of underwriting income," and "operating net income... $86 million or $0.70 per diluted share." (CFO James McKinney) "Net service fee income reached $8 million, with service revenues at $54 million at a 14.6% margin," while "net investment income totaled $66 million" and "book value per diluted share, excluding AOCI... $18.98." (CFO McKinney) Outlook "We expect our overall gross written premium growth to be between 5% to 10% for the full year with strong growth in Insurance & Services," and management said growth will be "more weighted to the second half of the year, primarily driven by the shift in mix to Insurance from Reinsurance." (CEO Egan) "We reaffirm our full year guidance range of 6.5% to 7%" for other underwriting expenses. (CEO Egan) "Property Catastrophe Reinsurance... saw rate declines of about 15%" and "gross written premium declined 31%," with management reiterating it "remained disciplined" in areas like property cat where r...
Earnings Call Insights: DraftKings (DKNG) Q1 2026 Management View "We are off to a fantastic start this year. Our first quarter results exceeded our expectations, and we continue to expect fiscal year 2026 revenue of $6.5 billion to $6.9 billion and adjusted EBITDA of $700 million to $900 million." (Co-Founder, Chairman & CEO Jason Robins) "Predictions, especially in Sports, is a strategic priorit...
Earnings Call Insights: DraftKings (DKNG) Q1 2026 Management View "We are off to a fantastic start this year. Our first quarter results exceeded our expectations, and we continue to expect fiscal year 2026 revenue of $6.5 billion to $6.9 billion and adjusted EBITDA of $700 million to $900 million." (Co-Founder, Chairman & CEO Jason Robins) "Predictions, especially in Sports, is a strategic priority for DraftKings." (CEO Robins) "We intend to execute with urgency and establish a leadership position in Sports Predictions before year-end." (CEO Robins) "Predictions is now live in our flagship app. And as a result, our Predictions customer acquisition costs declined by more than 80% in April." (CEO Robins) "In April, our annualized Predictions consumer volume exceeded $1 billion, and our annualized total volume traded exceeded $2.3 billion." (CEO Robins) "Beginning next quarter, we will report Sports revenue, which will combine Sportsbook and Sports predictions." (CEO Robins) "I'm also proud that we have achieved positive net income for the second consecutive quarter, continuing the progress that we've made on our profitability while repurchasing almost $100 million of our shares." (Chief Financial Officer Alan Ellingson) Outlook "We continue to expect fiscal year 2026 revenue of $6.5 billion to $6.9 billion and adjusted EBITDA of $700 million to $900 million." (CEO Robins) "Today, we are reaffirming these guidance ranges." (CFO Ellingson) "Importantly, the adjusted EBITDA guidance range includes significant investment in Predictions." (CFO Ellingson) "At this point, we are thinking we're going to probably invest about $200 million to $300 million all in on Predictions this year." (CEO Robins) "We still have World Cup coming, which should be a boon." (CEO Robins) Financial Results "In the first quarter, revenue increased 17% year-over-year and surpassed $1.6 billion." (CFO Ellingson) "Adjusted EBITDA increased 64% year-over-year to $168 million." (CFO Ellingson) "If not...
Earnings Call Insights: Bimini Capital Management (BMNM) Q1 2026 Management View “We closed on our purchase of an 80% ownership stake on April 1, 2026,” said Chairman, CEO & Secretary Robert Cauley, adding that the company brought “Richard Parry, the President and CIO of Tom Johnson Investment Management, or TJIM” onto the call to introduce the business. Cauley tied Q1 results to the Agency RMBS b...
Earnings Call Insights: Bimini Capital Management (BMNM) Q1 2026 Management View “We closed on our purchase of an 80% ownership stake on April 1, 2026,” said Chairman, CEO & Secretary Robert Cauley, adding that the company brought “Richard Parry, the President and CIO of Tom Johnson Investment Management, or TJIM” onto the call to introduce the business. Cauley tied Q1 results to the Agency RMBS backdrop: “Uneven market conditions for the Agency RMBS market caused Orchid Island Capital or Orchid and Bimini's investment portfolio segment to report modest losses for the quarter,” and “the war in Iran, which broke out on February 28, caused severe market disruptions.” On segment performance, Cauley reported: “Orchid reported a net loss of $20.2 million or $0.11 per share for the first quarter of 2026,” while “Bimini's investment portfolio segment generated a net loss of $0.7 million for the quarter.” He also highlighted Orchid equity growth: “its stockholders' equity increased from $1.372 billion at December 31, 2025, to $1.392 billion at March 31, 2026.” Cauley said the advisory stream rose with Orchid’s equity base: “Bimini's advisory service revenue also increased to $5.1 million in Q1 compared to $4.7 million for the fourth quarter of 2025,” and “the Advisory Service segment generated net income for the first quarter of $2.25 million and Bimini's consolidated income for the first quarter was $0.8 million or $0.08 per share.” TJIM’s President & CIO Richard Parry described the acquired platform’s scale and mix: “Our current assets are approximately a little over $1.6 billion,” and “about 65% of our assets under management are through consultant platforms and brokerage consultants,” with “35%” through direct client relationships. No CFO prepared remarks were included in this transcript. Outlook Cauley framed early Q2 conditions as improved versus Q1: “So far in the second quarter of 2026, market conditions for levered Agency RMBS investing have improved, reversing som...
Earnings Call Insights: Groupon (GRPN) Q1 2026 Management View CEO Dusan Senkypl said, "Q1 fell short of our expectations," and reported global billings of $383M (down 1% year-over-year), revenue of $117M (flat year-over-year), and adjusted EBITDA of $12.8M, adding, "adjusted EBITDA of $12.8 million includes approximately $2 million of severance reflected in SG&A in the quarter related to the roug...
Earnings Call Insights: Groupon (GRPN) Q1 2026 Management View CEO Dusan Senkypl said, "Q1 fell short of our expectations," and reported global billings of $383M (down 1% year-over-year), revenue of $117M (flat year-over-year), and adjusted EBITDA of $12.8M, adding, "adjusted EBITDA of $12.8 million includes approximately $2 million of severance reflected in SG&A in the quarter related to the roughly 5% head count reduction we executed in Q1." Senkypl attributed the quarter’s pressure to "continued softness in our managed and organic channels," "a deceleration in North America local, where SMB merchant acquisition slowed and enterprise turned negative for the first time in 5 quarters," and "our first soft quarter in health, beauty and wellness after 4 consecutive quarters of growth," while noting, "Things to Do continue to grow across both North America and international." Senkypl pointed to early Q2 indicators, saying, "April performance has improved, driven by North America local reaccelerated," and added, "Managed channels are recovering with email returning to positive year-over-year growth" and "SEO trajectory turned positive in mid-April," while emphasizing, "none of the Q1 results yet reflect the operating impact of Project Foundry." On strategy, Senkypl called Foundry "the most consequential operating decision this management team has made since arriving at Groupon 3 years ago," saying, "We are rebuilding Groupon as an AI-native company," and describing it as "a redesign of how the company works" with "AI agents into the core of every function." Senkypl disclosed additional potential cost actions tied to the operating model shift: "We are evaluating additional restructuring actions in Q2 that we expect will further reduce global head count by approximately an additional 15%, along with other significant cost reduction and automation actions," while cautioning, "These plans have not been finalized or approved by the Board." CFO Rana Kashyap addressed adjusted...
Earnings Call Insights: Karat Packaging (KRT) Q1 2026 Management View “We began 2026 with a robust first quarter. Year-over-year sales increased almost 13% with momentum building throughout the quarter,” said Co-Founder, Chairman & CEO Alan Yu, adding that growth “exceed[ed] 20% in March, which included some pull forward of orders,” and that the company saw “continued gain in the market share.” Yu...
Earnings Call Insights: Karat Packaging (KRT) Q1 2026 Management View “We began 2026 with a robust first quarter. Year-over-year sales increased almost 13% with momentum building throughout the quarter,” said Co-Founder, Chairman & CEO Alan Yu, adding that growth “exceed[ed] 20% in March, which included some pull forward of orders,” and that the company saw “continued gain in the market share.” Yu highlighted a change in online execution and mix, saying, “our online sales, which are typically at a higher contribution margin, returned to robust growth this quarter after we pivoted to grow and fulfill our own online sales on our company storefront and third-party platforms.” On margin drivers and pricing actions, Yu said, “Gross margin remained resilient at 35.5% despite the continued impact of higher tariffs,” and added, “we are implementing price increases on select plastic items beginning in the middle of this month,” while expecting “tariff saving under the current trade policy to begin reducing cost of goods sold this month.” Yu detailed sourcing shifts aimed at cost and availability, including: “we increased domestic purchase to 18% compared to 14%,” “increased sourcing from Malaysia and Vietnam to an aggregate of 17% from 12%,” “reduced purchase from Taiwan…to 46% compared to 54%,” and “reduced sourcing from China to 11% compared to 18%.” He also said, “we expanded our sourcing footprint by adding a new supplier in South America.” CFO & Director Jian Guo said, “Net sales for the 2026 first quarter increased to $116.9 million,” and added, “we executed strong working capital management during the first quarter, generating operating cash flow of $7.2 million and free cash flow of $6.3 million despite continued heavy duty and tariff payments.” Outlook Guo guided, “Looking ahead to the 2026 second quarter, we expect net sales to increase by approximately 8% to 10% from the prior year quarter,” while noting, “some timing shift of orders in March contributed to a soft...
Earnings Call Insights: Barings BDC (BBDC) Q1 2026 Management View “Despite an onslaught of negative headlines in the private credit sector during the first quarter, BBDC delivered solid net investment income and maintained good credit performance, particularly within the Barings originated portion of our portfolio,” said CEO Thomas McDonnell. CEO Thomas McDonnell said “net deployment in Q1 was sl...
Earnings Call Insights: Barings BDC (BBDC) Q1 2026 Management View “Despite an onslaught of negative headlines in the private credit sector during the first quarter, BBDC delivered solid net investment income and maintained good credit performance, particularly within the Barings originated portion of our portfolio,” said CEO Thomas McDonnell. CEO Thomas McDonnell said “net deployment in Q1 was slightly negative,” adding, “We originated $109 million of investments against $126 million of repayments for net repayments of roughly $17 million,” and that “our total portfolio size and leverage remained essentially unchanged quarter-over-quarter.” CEO Thomas McDonnell tied the quarter’s NAV move to a specific driver: “Net asset value per share was $11.02 as of March 31, 2026, slightly lower than $11.09 at the end of 2025. This modest decline was primarily driven by the write-down in a legacy MVC asset.” CEO Thomas McDonnell highlighted portfolio income and dividend posture: “The weighted average yield on debt and other income-producing securities at fair value was 10.1%,” and “Our Board declared a second quarter dividend of $0.26 per share, consistent with the prior quarter.” President Matthew Freund said, “We are now seeing a shift,” citing that “Retail flows into non-traded vehicles have become more volatile due to heightened investor caution and institutional allocators are pacing commitments more deliberately,” while adding, “From our perspective, this is a healthy development.” President Matthew Freund reiterated positioning on software and ARR structures: “BBDC does not have any loans to issuers structured on recurring revenue,” and “by our analysis, roughly 13% of our holdings are primarily software related.” CFO Elizabeth Murray said earnings and coverage softened modestly: “Net investment income for the first quarter was $0.25 per share,” and “Net investment income per share of $0.25 fell just short of our $0.26 quarterly dividend under earning by $0.01.” Outlook...
Party makes gains in Portsmouth and Richmond upon Thames in local elections but loses a Scottish stronghold Elections 2026 – live updates Full results from England, Scotland and Wales Ed Davey has sought to cast Liberal Democrat wins in England’s local elections as proof his party is best positioned to confront what he described as the “extreme populist change” offered by Reform UK and the Greens....
Party makes gains in Portsmouth and Richmond upon Thames in local elections but loses a Scottish stronghold Elections 2026 – live updates Full results from England, Scotland and Wales Ed Davey has sought to cast Liberal Democrat wins in England’s local elections as proof his party is best positioned to confront what he described as the “extreme populist change” offered by Reform UK and the Greens. As Labour assessed a disastrous set of results, the Lib Dems could claim they had been able to fend off Reform challenges in areas including Portsmouth, where they made gains to seize the city council, which had been under no overall control. Continue reading...