GEO Group ( GEO ) was trading higher as first-quarter earnings exceeded expectations and full-year financial guidance was raised. Shares were 15.31% higher at $21.17 during pre-market trading on Wednesday. The diversified government service provider specializing in secure facilities, processing centers, and community reentry centers reported Q1 adjusted net income of $0.29 per diluted share, up fr...
GEO Group ( GEO ) was trading higher as first-quarter earnings exceeded expectations and full-year financial guidance was raised. Shares were 15.31% higher at $21.17 during pre-market trading on Wednesday. The diversified government service provider specializing in secure facilities, processing centers, and community reentry centers reported Q1 adjusted net income of $0.29 per diluted share, up from $0.14 per diluted share in the first quarter of 2025. The non-GAAP EPS compares with the Visible Alpha consensus estimate of $0.20. GAAP EPS was recorded at $0.29, compared to the year-ago $0.14 and against the consensus of $0.19. Revenue came in at $705.21M, compared to $604.65M in the year-ago period and against the average analyst estimate of $688.49M. The Boca Raton, Florida-based company attributed the increase in revenue to the contracts that were entered into throughout 2025. The company said it was awarded new or expanded contracts last year that translate into ~$520M in new incremental annualized revenues. Adjusted EBITDA rose to $131.41M from $99.77M. Operating expenses came in at $521.51M, compared to the year-ago $453.78M. Expenses were favorably impacted by lower-than-expected labor costs. "Our strong performance has been driven by the new growth opportunities we captured in 2025 and are normalizing in 2026," said CEO George Zoley. "We expect 2026 to be very active as well and therefore believe that we have upside potential across our diversified business segments," said the CEO. "Given the intrinsic value of our assets, including 50,000 owned beds at 70 facilities, and our current and expected future growth, we believe that our stock offers a very attractive investment opportunity," said Zoley. The company narrowed the lower end of its 2026 revenue guidance range to $2.95B-$3.10B from the prior range of $2.9B-$3.1B, vs. $2.97B consensus. Full-year GAAP EPS guidance range has been raised to $1.15 to $1.25 per diluted share from $0.99 to $1.07, above the $1.1...
Olga Yastremska/iStock via Getty Images Golub Capital BDC ( GBDC ) is one of several BDCs I have in my portfolio. I've always liked GBDC's strategy and sector focus. But now, many investors are concerned with their software exposure. It doesn't surprise me, there are many very negative headlines in the media. Also, I see that GBDC's portfolio shows some weaknesses. I see GBDC has just shared its d...
Olga Yastremska/iStock via Getty Images Golub Capital BDC ( GBDC ) is one of several BDCs I have in my portfolio. I've always liked GBDC's strategy and sector focus. But now, many investors are concerned with their software exposure. It doesn't surprise me, there are many very negative headlines in the media. Also, I see that GBDC's portfolio shows some weaknesses. I see GBDC has just shared its data for Q2 2026 . That's why I decided to prepare this follow-up coverage. Especially as I covered GBDC last time in November 2025. I've kept GBDC on hold since August 2025. During that time, I've seen many bad news about the software space (due to AI). And I've also seen GBDC cut its dividend by ~15%. Seeking Alpha It's a good time to discuss this BDC, as I'm going to hold onto it further. Yes, I'm stating right at the start: I don't intend to sell any of my shares in GBDC. But I'm not buying either. I see some risk factors around GBDC. And I think that the market will present us with a more attractive price in the upcoming quarters. GBDC's portfolio shows some weaknesses Rising non-accruals It doesn't surprise me that GBDC's non-accruals increased. I expected it. Many of its peers face similar issues. But GBDC's non-accrual ratio is still reasonable in my eyes. Yes, I know that the increase is meaningful (by 60 bps since year-end), but I think it's under control. Still, it's not a good sign. GBDC's Investor Presentation I don't think it's a good sign especially given GBDC's internal performance ratings. I see that 2.2% of investments performed materially below expectations. And that's another solid increase vs year-end, as you can see in the table I pasted. In fact, I see all year-end data for 2021-2025 period showed better numbers. GBDC's Investor Presentation That's why I believe it's something investors have to pay attention to in the upcoming quarters. I hope GBDC's team will address it properly. Investment spreads keep on dropping I pasted the most important chart fr...
Igor Kutyaev/iStock via Getty Images By Kelvin Wong Amid the current Middle East geopolitical tensions arising from the US-Iran war, coupled with trade and high-tech rivalry between the US and China, the China A shares stock market has been resilient in the past two months. Based on the pre-war base date of February 27, 2026 till Tuesday, May 5, 2026, the China A50 benchmark stock index has manage...
Igor Kutyaev/iStock via Getty Images By Kelvin Wong Amid the current Middle East geopolitical tensions arising from the US-Iran war, coupled with trade and high-tech rivalry between the US and China, the China A shares stock market has been resilient in the past two months. Based on the pre-war base date of February 27, 2026 till Tuesday, May 5, 2026, the China A50 benchmark stock index has managed to recover and recorded a gain of 7%, making it one of the top-performing global benchmark stock indices (see Fig. 1). Fig. 1: Global benchmark stock indices performances from Feb 27, 2026 to May 5, 2026 (Source: MacroMicro) Also, when measured from the sell-off period of February 27, 2026 to March 30, 2026, seen in global stock markets during the US-Iran war, the China A50 index was the top performer, unscathed and almost unchanged in a sea of red (see Fig. 2). Fig. 2: Global benchmark stock indices performances from Feb 27, 2026 to Mar 30, 2026 (Source: MacroMicro) After the person-to-person meet-up between US President Trump and Chinese President Xi Jinping in October last year in Busan, both countries have agreed to extend a tariff truce, which eventually reduced the US tariff rate on Chinese goods to 20.9% from a high of over 100% during the onset of US-China Trade War 2.0 in April 2026. The Trump-Xi meeting in Beijing on 14-15 May will be a key risk event Trump has confirmed a second in-person meeting with Xi Jinping in Beijing on 14-15 May, delayed by a month due to the US-Iran conflict. Both sides appear to be positioning for leverage ahead of what is shaping up to be a high-stakes summit. China remains heavily reliant on Iranian energy flows, even as the US seeks to constrain these supplies. At the same time, Chinese regulators have blocked Meta Platforms ( META ) from acquiring advanced AI start-up Magnus, underscoring Beijing’s efforts to limit US access to strategic technologies and maintain its position in the global AI supply chain. A further strengthening o...
quantic69/iStock via Getty Images The nightmare scenario The Strait of Hormuz has been closed now for over two months, that's the fact. More importantly, there is no end in sight when the traffic in Hormuz will normalize, if ever. Thus, this is the biggest energy supply shock ever. But we can't feel it yet. Yes, the price of gas is now much higher, but it's not prohibitively high yet. The fact is ...
quantic69/iStock via Getty Images The nightmare scenario The Strait of Hormuz has been closed now for over two months, that's the fact. More importantly, there is no end in sight when the traffic in Hormuz will normalize, if ever. Thus, this is the biggest energy supply shock ever. But we can't feel it yet. Yes, the price of gas is now much higher, but it's not prohibitively high yet. The fact is also that many tankers that left the Persian Gulf before the war were arriving to their destination, but that's over now. Countries have been drawing on their petroleum reserves, but these reserves are dwindling quickly. Thus, the energy supply shock has not affected the global economy yet. The price of (paper) oil has been contained as well. But, that's about the change, likely in a few weeks to a month. The physical shortage of oil will become more obvious as emergency supplies disappear, and oil prices will likely spike towards $200/barrel. In addition, there will also be a shortage of fertilizers, pushing food prices higher, and shortage of key chemicals and products used in manufacturing (like helium), which could reduce the supply of manufactured goods, used in technology and transportation. All together, the prolonged closure of Hormuz is likely to trigger a massive inflationary shock followed by a global recession due to demand destruction. It's truly a nightmare scenario, and Hormuz has to open as soon as possible to prevent it. The Project Freedom Project Freedom was announced by the US over the weekend as a humanitarian project to free the stranded crews in the Gulf by guiding the ships through Hormuz close to the Oman coast. This is actually a highly needed project, as crews are possibly running out of food and water. But this humanitarian project had to be coordinated with Iran—and it wasn't. In my view, Project Freedom was an initial attempt to open the Strait of Hormuz by force. The Trump administration is well aware of the nightmare scenario described above ...
AI isn’t ready to replace your fund manager — and the public experiments testing it are showing why. Across a series of new trading contests between the world’s leading AI models, the verdict so far is unflattering. Most of the systems lose money. They trade too much. They make wildly different decisions when given identical instructions. And no one yet knows if these shortcomings will fade with m...
AI isn’t ready to replace your fund manager — and the public experiments testing it are showing why. Across a series of new trading contests between the world’s leading AI models, the verdict so far is unflattering. Most of the systems lose money. They trade too much. They make wildly different decisions when given identical instructions. And no one yet knows if these shortcomings will fade with more powerful iterations — or if they reveal something fundamental about the gap between large language models and how markets actually work. Take Alpha Arena , run by tech startup Nof1. It pitted eight major frontier AI systems — including Anthropic’s Claude, Google’s Gemini, OpenAI’s ChatGPT and Elon Musk ’s Grok — against each other in four separate competitions. Each was handed $10,000 per contest before being turned loose on US tech stocks for two weeks. The challenges involved trading on a variety of signals, acting defensively, reacting to the competition, and using high leverage. The portfolio as a whole lost about a third of its capital. Across all 32 sets of results, a model finished in profit only six times. Grok 4.20 delivered the best performance during the challenge in which it was aware of its rivals’ performance. It placed only 158 trades; under the same prompt, Alibaba’s Qwen traded 1,418 times. Alpha Arena is one of a growing number of experiments testing whether LLMs can do the hardest job in finance: beat the market. While these contests are far from academically rigorous, they’re the most public demonstration yet of what happens when the systems try to take on some of the most lucrative and high-stakes work on Wall Street. The early results matter because trading is one job the financial industry has been cautious about handing entirely to AI. Over the past few years, heavyweights from JPMorgan Chase & Co. to Balyasny Asset Management have put the technology to work nearly everywhere else. LLMs now parse news at quant shops, draft memos at hedge funds, a...
The server maker posted improved margins in its fiscal third quarter and projected revenue above Wall Street expectations, driven by sustained strong demand for artificial intelligence data center infrastructure.
The server maker posted improved margins in its fiscal third quarter and projected revenue above Wall Street expectations, driven by sustained strong demand for artificial intelligence data center infrastructure.
Ole_CNX/iStock via Getty Images Whoever has the largest AI ecosystem will set global AI standards and reap broad economic and military benefits. ~ The White House, July 2025 What a week it was! Last Tuesday, I participated on a panel at the Bitcoin Conference in Las Vegas, where I discussed why Bitcoin miners have a head start in the race for AI compute. One point I made that drew strong agreement...
Ole_CNX/iStock via Getty Images Whoever has the largest AI ecosystem will set global AI standards and reap broad economic and military benefits. ~ The White House, July 2025 What a week it was! Last Tuesday, I participated on a panel at the Bitcoin Conference in Las Vegas, where I discussed why Bitcoin miners have a head start in the race for AI compute. One point I made that drew strong agreement is that AI is not a bubble, as some people claim. This is real technology being deployed in life-or-death situations. The example I pointed out is that the Pentagon used Anthropic’s Claude AI model (through its partnership with Palantir) in the military operation to capture Venezuelan strongman Nicolás Maduro. Zero American soldiers were killed. By Wednesday, members of our BUZZ HPC team were at the DiscoveryX conference in Toronto, where Geoffrey Hinton—the Nobel laureate known as the “godfather of AI”— delivered a keynote on the history of AI, and where it could be headed. Between the two events, a single theme emerged: sovereign AI. It’s a concept I believe every investor needs to understand. And it may represent one of the largest investment opportunities of the decade. What Is Sovereign AI? And Why Now? Sovereign AI refers to a nation’s ability to develop and control its own AI infrastructure. I’m referring to the data centers, compute power, energy and talent needed to build and run AI systems domestically, rather than relying on a handful of corporations. The urgency is easy to understand when you look at the concentration of power. As the UK’s Technology Secretary Liz Kendall pointed out last week, 70% of global AI compute is now controlled by just five tech companies. In a speech, she called for a “decisive move” toward British AI self-sufficiency, arguing that nations that fail to master the defining technology of the time risk ceding control over both their security and economic future. Britain isn’t alone. Canada just announced a $2 billion Sovereign AI Compute...
China condemned what it called Japan’s first “offensive missile” test overseas in eight decades, saying Tokyo’s “neo-militarism” and intensified arms race had gained momentum and threatened regional stability. During the “Balikatan 2026” joint drill led by the United States and the Philippines on Wednesday, Japanese forces fired a Type 88 surface-to-ship missile in the Philippines. According to Ch...
China condemned what it called Japan’s first “offensive missile” test overseas in eight decades, saying Tokyo’s “neo-militarism” and intensified arms race had gained momentum and threatened regional stability. During the “Balikatan 2026” joint drill led by the United States and the Philippines on Wednesday, Japanese forces fired a Type 88 surface-to-ship missile in the Philippines. According to China, it was the first time Japan had launched an “offensive” weapon abroad since World War II. The...
Nvidia Corp. has bought $500 million worth of rights for shares in the fiber-optic cable maker Corning Inc. as part of a broader partnership between the two companies aimed at expanding AI infrastructure. Nvidia is getting as many as 3 million shares at $0.0001 each and has rights to buy as many as 15 million shares at a $180 exercise price in the deal, according to a regulatory filing Wednesday. ...
Nvidia Corp. has bought $500 million worth of rights for shares in the fiber-optic cable maker Corning Inc. as part of a broader partnership between the two companies aimed at expanding AI infrastructure. Nvidia is getting as many as 3 million shares at $0.0001 each and has rights to buy as many as 15 million shares at a $180 exercise price in the deal, according to a regulatory filing Wednesday. As part of the companies’ strategic partnership, Corning will ramp up its manufacturing capacity to supply the optical fiber that artificial intelligence-focused data centers use to deploy Nvidia’s chips. Nvidia has struck billions of dollars worth of deals across the AI ecosystem, taking stakes in everything from AI model developers such as OpenAI to other chipmakers such as Marvell Technology Inc. , in an effort to fuel growth across the industry. Nvidia has already backed Lumentum Holdings Inc. , a supplier of optical components. In his statement on the partnership with Corning, Nvidia Chief Executive Officer Jensen Huang stressed how the effort will benefit the US economy. The AI boom presents an opportunity to “reinvigorate American manufacturing and supply chains,” said Huang, who has enjoyed a close relationship with US President Donald Trump .
Tonix Pharmaceuticals ( TNXP ) added ~6% in the premarket on Wednesday after announcing an agreement with a group purchasing organization to secure commercial payer coverage for Tonmya, its non-opioid pain therapy. The GPO caters to roughly 35M U.S. commercial lives, accounting for about a fifth of total U.S. commercial lives, estimated at nearly 177M, the New Jersey-based biotech said, adding tha...
Tonix Pharmaceuticals ( TNXP ) added ~6% in the premarket on Wednesday after announcing an agreement with a group purchasing organization to secure commercial payer coverage for Tonmya, its non-opioid pain therapy. The GPO caters to roughly 35M U.S. commercial lives, accounting for about a fifth of total U.S. commercial lives, estimated at nearly 177M, the New Jersey-based biotech said, adding that the deal took effect on May 1. “We are encouraged by this first partnership with managed care and look forward to continuing to pursue additional coverage across commercial and government channels,” CEO Seth Lederman noted. Tonmya, a sublingual tablet formulation approved for adults with a long-term pain condition called "fibromyalgia," is currently covered under Medicare across 38 states. That represents nearly 55M Medicaid members making up 73% of the roughly 75M members of the joint federal and state healthcare plan, Tonix ( TNXP ) said. Its discussions with Medicare and Medicaid are currently in progress to widen the coverage, the company added. More on Tonix Pharmaceuticals Tonix Pharmaceuticals Holding Corp. (TNXP) Presents at BIO-Europe Spring 2026 - Slideshow Tonix Q4: Revenue Beat, EPS Miss, Early Signs Of Tonmya Momentum Seeking Alpha’s Quant Rating on Tonix Pharmaceuticals Historical earnings data for Tonix Pharmaceuticals Financial information for Tonix Pharmaceuticals
ShinjiPhotographer/iStock via Getty Images As I’ve covered some months ago , I see Tradeweb Markets ( TW ) as an interesting growth play in the financial sector due to its strong growth prospects on the structural shift of trading to electronic venues. Despite that, its shares have not performed particularly well since then, underperforming slightly the overall stock market ( SPY ) during the same...
ShinjiPhotographer/iStock via Getty Images As I’ve covered some months ago , I see Tradeweb Markets ( TW ) as an interesting growth play in the financial sector due to its strong growth prospects on the structural shift of trading to electronic venues. Despite that, its shares have not performed particularly well since then, underperforming slightly the overall stock market ( SPY ) during the same period. Article performance (Seeking Alpha) As the company has recently released its Q1 2026 earnings, I think it’s now a good time to analyze its most recent financial performance and update its investment case, to see if it continues to be a good growth play for long-term investors. Tradeweb’s Q1 2026 Earnings Analysis Tradeweb’s operating momentum has remained quite good in recent months, with the company benefiting from elevated market volatility in recent months following the Iran war. Given this background, Tradeweb benefited both from structural tailwinds and a cyclical uptick in market activity to report very strong growth rates during the first quarter of 2026. Indeed, revenues amounted to $617 million during the last quarter , representing an annual increase of 21% compared to the same quarter of the previous year and reached a new quarterly record. This was also an acceleration compared to the previous quarter, as revenues growth was ‘only’ 12.5% in the last quarter of 2025 , showing that higher market volatility was positive for the company’s revenues. This is also visible on average daily volume, that reached $3.3 trillion for the quarter, up by 31% YoY. In international markets, revenues were about $274 million in Q1 2026, representing some 44% of total revenue, as Tradeweb reported revenue growth of 29% YoY. This was a very strong performance and shows that Tradeweb continues to penetrate foreign markets as more customers embrace electronic trading, boding well for revenue growth ahead. By asset classes, Tradeweb reported higher revenues across its four main...
Walt Disney Co. beat Wall Street expectations in the fiscal second quarter thanks to improved profitability at its streaming business, new movies, and guests spending more at the company’s resorts and on cruises. Geetha Ranganathan of Bloomberg Intelligence has more. (Source: Bloomberg)
Walt Disney Co. beat Wall Street expectations in the fiscal second quarter thanks to improved profitability at its streaming business, new movies, and guests spending more at the company’s resorts and on cruises. Geetha Ranganathan of Bloomberg Intelligence has more. (Source: Bloomberg)
Investing.com -- Corning (NYSE:GLW) shares jumped 14% Wednesday following the announcement of a multiyear partnership with NVIDIA (NASDAQ:NVDA) to expand U.S. manufacturing of optical connectivity solutions for AI infrastructure.
Investing.com -- Corning (NYSE:GLW) shares jumped 14% Wednesday following the announcement of a multiyear partnership with NVIDIA (NASDAQ:NVDA) to expand U.S. manufacturing of optical connectivity solutions for AI infrastructure.
IURII KRASILNIKOV/iStock via Getty Images Crescent Energy ( CRGY ) reported a loss due to a noncash impairment charge . What is causing these charges throughout the industry are the weak commodity prices that trigger a lower of cost or market impairment combined with the sudden rise in commodity prices that caused hedges to lose value as commodity prices went up. The last article noted the acquisi...
IURII KRASILNIKOV/iStock via Getty Images Crescent Energy ( CRGY ) reported a loss due to a noncash impairment charge . What is causing these charges throughout the industry are the weak commodity prices that trigger a lower of cost or market impairment combined with the sudden rise in commodity prices that caused hedges to lose value as commodity prices went up. The last article noted the acquisition of royalties as part of a venture into yet another business line in the upstream part of the business. The purchases made during times of weak commodity prices are often higher than the lower of cost or market calculation would allow. That triggers an immediate impairment charge during the next reporting period. But that charge does not indicate that the company will not make decent money from the purchase once commodity prices recover. The United States GAAP accounting does not allow recovery of that impairment during the next cyclical recovery. But IFRS, which is used in several countries of the world does allow the recovery of that impairment because that accounting system recognizes that the costs overall could be very reasonable even if they are not at the current low price in the cycle. This difference in thoughts in the two major accounting systems demonstrates an overall accounting disagreement as to the actual effect of the impairment. For Crescent Energy, many times it has purchased properties from higher cost operators that tend to use older more costly practices. These operators have a higher breakeven point. Sometimes Crescent Energy can combine the acquired properties into one that is much more profitable. The company has long had a goal of building an Eagle Ford presence and is now adding a Permian presence as well. Generally, this company will continue to buy properties as long as the purchase price is considered a bargain and then will likely sell the company when selling prices are likewise a whole lot better than they are now. This is something that ...