lucky-photographer White House and Treasury Department officials have discussed expanding so-called Trump Accounts for children to allow wealthy individuals to contribute stocks in their companies to the accounts, according to a media report on Wednesday. Created as part of the Republicans' "One Big, Beautiful Bill," the investment accounts for millions of American children have been funded with b...
lucky-photographer White House and Treasury Department officials have discussed expanding so-called Trump Accounts for children to allow wealthy individuals to contribute stocks in their companies to the accounts, according to a media report on Wednesday. Created as part of the Republicans' "One Big, Beautiful Bill," the investment accounts for millions of American children have been funded with billions of dollars contributed by billionaires. The 530A accounts, as they're officially called, can start getting contributions on July 4, but they're restricted to cash investments in diversified index funds. The campaign to add stocks to the accounts is being led by Brad Gerstner, the founder of Altimeter Capital, who was instrumental in pushing for the 530A account program, The New York Times ' DealBook reported. Such an expansion of the rules would allow wealthy individuals, such as Elon Musk or Nvidia's ( NVDA ) Jensen Huang, to donate shares in Tesla ( TSLA ), SpaceX ( SPACE ), or Nvidia directly into Trump accounts. That would allow the donors to offload billions of dollars' worth of valuable stock without realizing capital gains. Plus, they would get a full charitable deduction for the stock's fair market value, DealBook reported. The original purpose of restricting the accounts to diversified index funds is to protect children from dramatic market swings. DealBook said the change would require an amendment, possibly through legislation, to change the statute. There's a question on whether new Treasury Department guidance or an executive order would suffice, the article said . Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on Trump Accounts Robinhood, BNY picked to help run Trump Accounts for kids Intel plans to match government's contributions for 'Trump Accounts' program Dell founder Michael Dell pledges $6.25B to support Trump Accounts fo...
Spencer Platt Rivian Automotive ( RIVN ) is reportedly developing new R2 variants in what could be considered a sign it wants the midsize EV platform to expand beyond the first launch version and appeal to more than one type of buyer. Rivian ( RIVN ) is considering body-style or configuration changes, not just trim-level tweaks, as it builds out the R2 family, according to Reuters. Looking ahead, ...
Spencer Platt Rivian Automotive ( RIVN ) is reportedly developing new R2 variants in what could be considered a sign it wants the midsize EV platform to expand beyond the first launch version and appeal to more than one type of buyer. Rivian ( RIVN ) is considering body-style or configuration changes, not just trim-level tweaks, as it builds out the R2 family, according to Reuters. Looking ahead, Rivian ( RIVN ) expects the first R2 deliveries to begin in spring 2026, and the launch is expected to start with the higher-end Performance model paired with the Launch Package. That version was positioned at roughly $58K, with other cheaper versions to start in 2027. The staged approach allows Rivian ( RIVN ) to get the vehicle into the market sooner while giving it room to lower the entry price over time. Shares of Rivian ( RIVN ) rose 0.8% in Wednesday morning trading. For the year, the EV stock is down more than 25%. Short interest on RIVN stands at 11.2% of the total float. More on Rivian Rivian Automotive, Inc. (RIVN) Q1 2026 Earnings Call Transcript Rivian Automotive, Inc. 2026 Q1 - Results - Earnings Call Presentation Rivian: It's All About R2 Volkswagen boosts its stake in Rivian to 15.9% after a private placement deal Rivian outlines 62,000-67,000 2026 deliveries while scaling Georgia phase 1 capacity to 300,000 units
imaginima/E+ via Getty Images Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended May 1: 457.2M barrels . Crude inventory change: -2.3M barrels vs. -6.2M barrels for the week ended April 24. Consensus estimate: -3.400M. Gasoline inventory change: -2.5M barrels vs. -6.1M barrels for the week ended April 24. Distillates inventory change: -1.3M barrels vs. ...
imaginima/E+ via Getty Images Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended May 1: 457.2M barrels . Crude inventory change: -2.3M barrels vs. -6.2M barrels for the week ended April 24. Consensus estimate: -3.400M. Gasoline inventory change: -2.5M barrels vs. -6.1M barrels for the week ended April 24. Distillates inventory change: -1.3M barrels vs. -4.5M barrels for the week ended April 24. Strategic Petroleum Reserve: 392.7M barrels, down -5.2M barrels from 397.9M barrels in the prior week. Crude Oil Futures ( CL1:COM ) -7% to $95.1/barrel. ETFs: ( USO ), ( BNO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( USOI ), ( XLE ). More on Crude Oil Futures, United States Oil Fund LP ETF, etc. The Petroleum Inventory Crash: $200+ Oil Is Coming Soon US-Iran Peace Agreement: Market Implications And Strategic Scenarios U.S. February Oil Production Rebounds Summer of $4 gas looms as oil futures signal prolonged pain at the pump: BofA Massive oil short trade raises questions after Iran deal reports
They entered the world the way babies should, with piercing cries announcing their arrival. They passed their newborn screening tests. Some made it to their 2-week wellness visits without concern. Then, without warning, their systems began to shut down. A 7-week-old boy in Maryland developed sudden seizures. An 11-pound girl in Alabama stopped breathing for 20 seconds at a time. A baby boy in Kent...
They entered the world the way babies should, with piercing cries announcing their arrival. They passed their newborn screening tests. Some made it to their 2-week wellness visits without concern. Then, without warning, their systems began to shut down. A 7-week-old boy in Maryland developed sudden seizures. An 11-pound girl in Alabama stopped breathing for 20 seconds at a time. A baby boy in Kentucky vomited before becoming lethargic. A brown-haired girl in Texas, not yet 2 weeks old, bled around her belly button. Desperate to save them, records show, doctors inserted tubes into their airways and hooked them up to IVs. They ordered blood transfusions. They spent half an hour trying to resuscitate one boy until his parents told them they could stop. They shaved another boy’s soft locks to embed a needle directly into his skull to reduce the pressure in his brain. Read full article Comments
In early trading on Wednesday, shares of Advanced Micro Devices topped the list of the day's best performing components of the Nasdaq 100 index, trading up 19.3%. Year to date, Advanced Micro Devices registers a 97.9% gain. And the worst performing Nasdaq 100 component thus fa
In early trading on Wednesday, shares of Advanced Micro Devices topped the list of the day's best performing components of the Nasdaq 100 index, trading up 19.3%. Year to date, Advanced Micro Devices registers a 97.9% gain. And the worst performing Nasdaq 100 component thus fa
Leaders from Coinbase, M13, and Mignano Law Group talk about how M&A is an early-stage strategy at TechCrunch Disrupt 2026. Register to hear this live.
Leaders from Coinbase, M13, and Mignano Law Group talk about how M&A is an early-stage strategy at TechCrunch Disrupt 2026. Register to hear this live.
omersukrugoksu/iStock via Getty Images Introduction Peoples Bancorp of North Carolina ( PEBK ) is a local bank operating 15 offices in North Carolina. With just over $1.7B in assets on its balance sheet, the local footprint of the bank has allowed it to keep a good grip on its lending business which translates into low loan loss provisions. That’s of course good news for the bottom line result as ...
omersukrugoksu/iStock via Getty Images Introduction Peoples Bancorp of North Carolina ( PEBK ) is a local bank operating 15 offices in North Carolina. With just over $1.7B in assets on its balance sheet, the local footprint of the bank has allowed it to keep a good grip on its lending business which translates into low loan loss provisions. That’s of course good news for the bottom line result as well. One key element I appreciate about PEBK is its relatively low dividend payout ratio. This allows the bank to retain the majority of its earnings which helps to boost the equity portion of its balance sheet and that of course underpins additional loan growth. Data by YCharts Another good set of results, despite slightly higher loan loss provisions In the first quarter of 2026, Peoples Bancorp of North Carolina generated a total interest income of around $20.9M , which represents a 4% increase compared to the $20M generated in the first quarter of 2025. PEBK noticed a lower interest expense as it decreased by 4% to $5.8M. This resulted in a net interest income of $15.1M, which is about $1.2M higher compared to the first quarter of the preceding year. PEBK Investor Relations Peoples Bancorp also had to deal with a higher net non-interest expense as it saw its non-interest income decrease by about 1% (the lower appraisal management fee revenue was the main culprit here) while the non-interest expenses increased by approximately 5% on the back of higher salaries and benefits. This resulted in a pre-tax and pre loan loss provision income of approximately $6.2M, which represents a 5% increase compared to the $5.9M in Q1 2025. But as the bank recorded slightly higher loan loss provisions (in absolute terms, in relative terms the amount of loan loss provisions more than doubled), the reported pre-tax income remained pretty flat. Fortunately the average tax pressure was slightly lower than in Q1 2025 resulting in a 1% increase in the net income. The $4.4M in net profit represen...
If you look at a stock price chart for Lucid Group (NASDAQ: LCID) over the last 12 months, it looks like a continuous walk down a mountain, with shares plummeting 74%. The company faces many challenges in turning things around, but the good news is that the management team recognizes the situation. It has some plans in place and an opportunity in the robotaxi market, but it's going to be an uphill...
If you look at a stock price chart for Lucid Group (NASDAQ: LCID) over the last 12 months, it looks like a continuous walk down a mountain, with shares plummeting 74%. The company faces many challenges in turning things around, but the good news is that the management team recognizes the situation. It has some plans in place and an opportunity in the robotaxi market, but it's going to be an uphill battle to send the stock price moving upward. Image source: Getty Images. Continue reading
UBS Says Transport Stock Rout Is "Overdone" After Amazon News UBS senior analyst Tom Wadewitz, who covers freight transportation, told clients that Amazon's latest push to open its supply chain network to businesses beyond its own marketplace triggered an " overdone " sell-off in transport names, including UPS, FedEx, and C.H. Robinson. Wadewitz said the risk is not new, noting that Amazon's suppl...
UBS Says Transport Stock Rout Is "Overdone" After Amazon News UBS senior analyst Tom Wadewitz, who covers freight transportation, told clients that Amazon's latest push to open its supply chain network to businesses beyond its own marketplace triggered an " overdone " sell-off in transport names, including UPS, FedEx, and C.H. Robinson. Wadewitz said the risk is not new, noting that Amazon's supply chain service has been around since 2023. He said the pullback has created attractive entry points in select transport stocks, particularly UPS, FedEx, and C.H. Robinson. "While we view AMZN's strategy of selling transportation services as a negative for transports generally, it is not a new risk and the supply chain service is also not new. We believe the significant sell-off in transport names was overdone ," Wadewitz said. The main risk is in B2B parcel, Wadewitz said, adding that Amazon's growing third-party shipping ambitions could pressure UPS and FedEx over the medium term. However, he said the threat is not a surprise, since Amazon has been active in parcel delivery for years. He also noted that there is limited near-term risk in international express because Amazon's air fleet is mostly domestic narrow-body aircraft. The immediate market reaction in transport stocks, including UPS, FedEx, and C.H. Robinson , to Amazon's news was a roughly 10% drop at the start of the week. Some of those losses had been recovered by mid-week. Wadewitz explained to clients why the " pullback creates attractive entry points for UPS, FDX, and CHRW " ... We believe the cost reduction and network efficiency initiatives of UPS and FDX support margin improvement and EPS growth on a multi-year basis. While AMZN's focus on growing in transport markets is a risk, we also don't view it as a new risk. In our view, investors already assume that the addressable domestic parcel market for UPS and FDX is a slow growth market (eg in part due to impact of AMZN). We view the ~10% pullbacks in UPS an...
fengdr/iStock via Getty Images Shares of Anavex Life Sciences ( AVXL ) fell ~3% on Wednesday after the Alzheimer’s drug developer named its former R&D head, Terrie Kellmeyer, as its interim chief executive following the departure of President and former CEO Christopher Missling. Kellmeyer, a veteran in the pharmaceutical industry and Anavex’s (ANVX) former senior vice president of clinical develop...
fengdr/iStock via Getty Images Shares of Anavex Life Sciences ( AVXL ) fell ~3% on Wednesday after the Alzheimer’s drug developer named its former R&D head, Terrie Kellmeyer, as its interim chief executive following the departure of President and former CEO Christopher Missling. Kellmeyer, a veteran in the pharmaceutical industry and Anavex’s (ANVX) former senior vice president of clinical development and current senior advisor, will lead the company’s next chapter in growth, the New York-based biotech said in a statement. According to the company, Missling left his position on April 30 following a request from the board seeking his resignation. Concurrently, Anavex ( AVXL ) announced it will file a Form 12b-25 to extend the filing date for the 10-Q related to the quarter ending March 31, 2026. “With a strong cash balance and no long-term debt, we will continue to focus on our lead candidate, oral blarcamesine, in early Alzheimer’s disease and begin to build out the appropriate team while creating long-term shareholder value," Kellmeyer added. More on Anavex Life Sciences Anavex: Negative EU Opinion Leaves Blarcamesine In Regulatory Purgatory Anavex Life Sciences Corp. (AVXL) Q1 2026 Earnings Call Transcript Anavex drops after pulling EU marketing application for Alzheimer’s therapy Anavex outlines regulatory milestones for blarcamesine in 2026 while advancing ACCESS-AD participation Seeking Alpha’s Quant Rating on Anavex Life Sciences
The painting, titled Gathering of Two Auspicious Signs, debuted at a May 5 auction. Photo: VCG A rare painting by Italian missionary and Qing dynasty court painter Giuseppe Castiglione sold for nearly HK$180 million ($23 million) at a Sotheby’s auction in Hong Kong, setting a record for the artist. The painting, titled Gathering of Two Auspicious Signs, debuted at a May 5 auction. After opening at...
The painting, titled Gathering of Two Auspicious Signs, debuted at a May 5 auction. Photo: VCG A rare painting by Italian missionary and Qing dynasty court painter Giuseppe Castiglione sold for nearly HK$180 million ($23 million) at a Sotheby’s auction in Hong Kong, setting a record for the artist. The painting, titled Gathering of Two Auspicious Signs, debuted at a May 5 auction. After opening at HK$140 million and hammering at HK$152 million, a telephone bidder represented by Nicolas Chow, chairman of Sotheby’s Asia, acquired it for HK$179.9 million, including the buyer’s premium.
Kenneth Cheung/iStock Unreleased via Getty Images Overview Meta Platforms, Inc. ( META ) reported its Q1 2026 earnings last week, and the stock declined 8.5% the day after in reaction to the earnings announcement. The stock is up 1% in the past 12 months but down 8.35% YTD. It currently trades at ~18.5x forward P/E, and this has investors wondering if the stock is undervalued and whether this is t...
Kenneth Cheung/iStock Unreleased via Getty Images Overview Meta Platforms, Inc. ( META ) reported its Q1 2026 earnings last week, and the stock declined 8.5% the day after in reaction to the earnings announcement. The stock is up 1% in the past 12 months but down 8.35% YTD. It currently trades at ~18.5x forward P/E, and this has investors wondering if the stock is undervalued and whether this is the right time to buy. Personally, I’m not buying into this post-earnings dip for a variety of reasons. While AI is producing some positive impact on the company in optimizing content recommendation, ad placement, etc., the scale/size of AI CapEx makes it questionable whether the return produced currently and in the future will be able to justify the investment. I think many other investors share the same concern. Additionally, Meta is expected to produce negligible or possibly negative free cash flow this year. The price action on the longer time frame charts (such as the monthly charts) also suggests that the price may decline further. Bullish Catalyst: Revenue Growth Meta’s total revenue came in at $56.31 billion for Q1 2026, growing 33% YoY. The revenue growth of 33% was the highest for a single quarter in nearly five years. This revenue growth was driven by 19% YoY growth in ad impressions (the highest since at least five quarters) and 12% growth in average price per ad (highest in at least five quarters). The company has been able to optimize ad loads with ad performance improvements even though higher impressions from lower monetizing regions slightly offset average price per ad. AI is also helping with ranking improvements by increasing the richness of describing user interactions and allowing the systems to develop a deeper understanding of how users interact with content. Not only has the quality improved but also the speed at which Meta’s ranking models index new posts has increased. Lastly, AI is also helping unlock more content inventory by dubbing and automatic...
Kenneth Cheung/iStock Unreleased via Getty Images Overview Meta Platforms, Inc. ( META ) reported its Q1 2026 earnings last week, and the stock declined 8.5% the day after in reaction to the earnings announcement. The stock is up 1% in the past 12 months but down 8.35% YTD. It currently trades at ~18.5x forward P/E, and this has investors wondering if the stock is undervalued and whether this is t...
Kenneth Cheung/iStock Unreleased via Getty Images Overview Meta Platforms, Inc. ( META ) reported its Q1 2026 earnings last week, and the stock declined 8.5% the day after in reaction to the earnings announcement. The stock is up 1% in the past 12 months but down 8.35% YTD. It currently trades at ~18.5x forward P/E, and this has investors wondering if the stock is undervalued and whether this is the right time to buy. Personally, I’m not buying into this post-earnings dip for a variety of reasons. While AI is producing some positive impact on the company in optimizing content recommendation, ad placement, etc., the scale/size of AI CapEx makes it questionable whether the return produced currently and in the future will be able to justify the investment. I think many other investors share the same concern. Additionally, Meta is expected to produce negligible or possibly negative free cash flow this year. The price action on the longer time frame charts (such as the monthly charts) also suggests that the price may decline further. Bullish Catalyst: Revenue Growth Meta’s total revenue came in at $56.31 billion for Q1 2026, growing 33% YoY. The revenue growth of 33% was the highest for a single quarter in nearly five years. This revenue growth was driven by 19% YoY growth in ad impressions (the highest since at least five quarters) and 12% growth in average price per ad (highest in at least five quarters). The company has been able to optimize ad loads with ad performance improvements even though higher impressions from lower monetizing regions slightly offset average price per ad. AI is also helping with ranking improvements by increasing the richness of describing user interactions and allowing the systems to develop a deeper understanding of how users interact with content. Not only has the quality improved but also the speed at which Meta’s ranking models index new posts has increased. Lastly, AI is also helping unlock more content inventory by dubbing and automatic...