STORY: Elon Musk has settled a U.S. Securities and Exchange Commission lawsuit against him for a $1.5 million fine. The suit accuses the world's richest person of waiting too long in 2022 to disclose his initial purchases of shares in Twitter, now known as X. Under the settlement disclosed Monday, a trust in Musk's name will pay the fine. The Tesla chief did not admit wrongdoing, and won't have to...
STORY: Elon Musk has settled a U.S. Securities and Exchange Commission lawsuit against him for a $1.5 million fine. The suit accuses the world's richest person of waiting too long in 2022 to disclose his initial purchases of shares in Twitter, now known as X. Under the settlement disclosed Monday, a trust in Musk's name will pay the fine. The Tesla chief did not admit wrongdoing, and won't have to give up any of the $150 million he allegedly saved from the delay. Now the settlement requires approval by U.S. District Judge Sparkle Sooknanan, who in February rejected Musk's bid to dismiss the case. The SEC declined to comment. In its lawsuit, the regulator said Musk's 11-day delay in revealing his initial 5% Twitter stake let him buy more than $500 million of shares at artificially low prices, before he finally revealed a 9.2% stake. Musk called the delay inadvertent, and accused the SEC of violating his free speech rights by targeting him. The case is separate from a civil suit where a San Francisco jury in March held Musk liable for having defrauded Twitter shareholders after announcing the buyout.
Swedish buyout firm EQT ( EQBBF ) is said to have put forward a revised takeover offer for Intertek ( IKTSF ), valuing the company at £8.93 billion ($12.08 billion). Intertek rose 6.5% to 5,116.00p each in London for a market value of £7.92B. It was the biggest riser on the FTSE 100, which was down 0.9%. According to a Bloomberg report, Intertek said it was reviewing a revised proposal from EQT to...
Swedish buyout firm EQT ( EQBBF ) is said to have put forward a revised takeover offer for Intertek ( IKTSF ), valuing the company at £8.93 billion ($12.08 billion). Intertek rose 6.5% to 5,116.00p each in London for a market value of £7.92B. It was the biggest riser on the FTSE 100, which was down 0.9%. According to a Bloomberg report, Intertek said it was reviewing a revised proposal from EQT to acquire the entire company for £58.00 per share in cash. The offer follows previous EQT proposals of £51.50 and £54.00 per share that Intertek rejected. It is the third offer from the Swedish private equity company in its effort to secure a takeover deal. More on EQT AB (publ), Intertek Group plc EQT AB (publ) (EQBBF) Q1 2026 Earnings Call Transcript EQT AB (publ) 2026 Q1 - Results - Earnings Call Presentation Intertek Group plc (IKTSY) Q1 2026 Sales/Trading Call Transcript Sweden's EQT AB eyes $2.6B takeover of Kakaku.com - report EQT improves takeover offer for Intertek - FT
ugis bralens/iStock via Getty Images Successful investments are always "fun", in the sense that it's great to see money grow, and to validate a positive thesis. Kaiser Aluminum ( KALU ) was one of the companies where I feel my thesis, originally, has been entirely validated. I invested in KALU when the market was a lot more hesitant about aluminum recyclers and KALU in general. During my first art...
ugis bralens/iStock via Getty Images Successful investments are always "fun", in the sense that it's great to see money grow, and to validate a positive thesis. Kaiser Aluminum ( KALU ) was one of the companies where I feel my thesis, originally, has been entirely validated. I invested in KALU when the market was a lot more hesitant about aluminum recyclers and KALU in general. During my first article, most of the ratings and recommendations were negative or neutral - very few positive. My investment, however, has gone up over 100%. As of my latest article 3 months ago, I sold off over 95% of my position, leaving only a small watchlist position. Initially, I thought this was the right thing - as not far after my article and sales of shares, the company actually dropped to close to $100/share. This was excellent, as it was within my expectations and what I believed the company to be "properly" worth. However, following that slump - the company rose and has since risen to unprecedented levels of valuation from a historical perspective. It now trades at over $170/share, which, in my perspective, is a questionable valuation from a fundamental appeal. As of this article, I'm therefore looking at the recent results, published in late April 2026, and taking the company's updated outlook (conversion to revenue, EBITDA growth) into consideration and seeing if my price target given in this particular article was perhaps a bit too conservative, all things considered. The aluminum market is a tricky one. Unlike other metal markets, it's not just a volatile supply-demand flow of a volatile commodity. Aluminum and the feedstock to create the metal have strategic material flows - including a higher energy dependency than most metals, incredibly tricky bottlenecks in terms of logistics, and dependency on stability in the geopolitical sense. The fact that Kaiser Aluminum works with recycled aluminum takes a bit away from this macro - but not as much as you think. It pays off to be c...
Stocks were set to edge higher on Tuesday as investors looked past rising tensions in the Middle East and took the opportunity to buy the dip in equities following another batch of solid earnings reports. S&P 500 futures added 0.3% and contracts tied to the tech-heavy Nasdaq 100 gained 0.5%. The three major indexes all dropped on Monday after the United Arab Emirates said Iran was attacking it wit...
Stocks were set to edge higher on Tuesday as investors looked past rising tensions in the Middle East and took the opportunity to buy the dip in equities following another batch of solid earnings reports. S&P 500 futures added 0.3% and contracts tied to the tech-heavy Nasdaq 100 gained 0.5%. The three major indexes all dropped on Monday after the United Arab Emirates said Iran was attacking it with missiles, sparking fears that the Middle East conflict could escalate after weeks of relative calm.
India is planning an electronic platform for trading bond forwards, according to people familiar with the matter, in a bid to improve price discovery in a market that operates largely over the counter. The Clearing Corp. of India Ltd. has been working with lenders on a proposed design and is preparing to submit the plan to the central bank for approval, the people said, asking not to be named as t...
India is planning an electronic platform for trading bond forwards, according to people familiar with the matter, in a bid to improve price discovery in a market that operates largely over the counter. The Clearing Corp. of India Ltd. has been working with lenders on a proposed design and is preparing to submit the plan to the central bank for approval, the people said, asking not to be named as the discussions are private. Spokespeople for the CCIL and the Reserve Bank of India didn’t immediately respond to requests for comments. Business Standard on Monday reported that the CCIL is working on a dedicated platform for bond forward trades, with a rollout likely in the current quarter. Bond forwards, introduced in government securities last year, are currently negotiated bilaterally, leaving pricing opaque. A centralized venue for one of India’s most-traded bond derivatives could help standardize deals and boost transparency and liquidity. The platform will have a ‘request-for-quote’ mechanism, where buyers and sellers can compare different prices for securities on a single platform, the people said. Bond forwards are widely used by Indian insurers to hedge interest-rate risk. Banks typically sell the contracts, agreeing to deliver securities at a fixed price on a future date. All trades in bond forwards and forward rate agreements — a similar cash-settled derivative — need to be reported to CCIL. The total value of trades reported was 2.7 trillion rupees ($28.3 billion) as of April 22. Read More: Indian Insurers Boost State Bond Derivatives as Yields Climb
mohd izzuan Sterling Infrastructure ( STRL ) stock price jumped 22% on Tuesday during pre-market hours of trading as it reported a sharp Q1 earnings and revenue beat, exceeding Wall Street expectations. Revenue came in at a record $825.7M, surpassing consensus by $233.73M, indicating robust demand and project activity. The recently acquired CEC business contributed $156.1M to revenue in the quarte...
mohd izzuan Sterling Infrastructure ( STRL ) stock price jumped 22% on Tuesday during pre-market hours of trading as it reported a sharp Q1 earnings and revenue beat, exceeding Wall Street expectations. Revenue came in at a record $825.7M, surpassing consensus by $233.73M, indicating robust demand and project activity. The recently acquired CEC business contributed $156.1M to revenue in the quarter. EBITDA of $155.2M, an increase of 115%. Its adjusted EBITDA rose 107% to $166.6 million, with margins remaining above 20%, reflecting operating leverage and project execution strength. The company posted non-GAAP EPS of $3.59, topping estimates by $1.40. Sterling ( STRL ) raised its FY 2026 guidance, now expecting: Revenue of $3.70B–$3.80B (vs. $3.14B); Adjusted EPS of $18.40–$19.05 (vs. consensus of $13.83) and Adjusted EBITDA of $843M–$873M. "We ended the quarter with signed backlog of $3.8 billion, up 78%, and combined backlog of $5.15 billion, up 131%. First quarter book-to-burn ratios were 2.1x for backlog and 3.5x for combined backlog. In addition, our pipeline of high-probability future phase work continues to expand and now exceeds $1.3 billion." said Joe Cutillo , Sterling's ( STRL ) CEO. The company gets a Quant rating of Hold with a score of 3.44, and the highest factor grades given to momentum. More on Sterling Infrastructure Sterling Infrastructure: Why The Growth Story Isn't Over (Earnings Preview) War, Fear, And The Data: Why The Seeking Alpha Quant System Says 'Don't Sell' Sterling Infrastructure: Impressive Yet Expensive Sterling Infrastructure Non-GAAP EPS of $3.59 beats by $1.40, revenue of $825.7M beats by $233.73M Sterling Infrastructure rated Overweight in new coverage at KeyBanc
More than 240 owners representing over 12 per cent of households at Hong Kong’s fire-ravaged Wang Fuk Court petitioned the government-appointed administrator in late April to hold an extraordinary general meeting, saying they might seek legal action if the request was ignored. The owners said in a statement on Tuesday that they would consider applying to the Lands Tribunal if Hop On Management Com...
More than 240 owners representing over 12 per cent of households at Hong Kong’s fire-ravaged Wang Fuk Court petitioned the government-appointed administrator in late April to hold an extraordinary general meeting, saying they might seek legal action if the request was ignored. The owners said in a statement on Tuesday that they would consider applying to the Lands Tribunal if Hop On Management Company failed to hold the meeting within 45 days in accordance with the Building Management...
The fragile US-Iran ceasefire held Tuesday morning after a day of clashes involving shipping in the Strait of Hormuz and missile attacks against the United Arab Emirates. Relative calm returned to the Persian Gulf after US and Iranian forces exchanged fire Monday and Tehran launched missiles and drones toward the UAE, in the worst flareup since the ceasefire began less than a month ago. The violen...
The fragile US-Iran ceasefire held Tuesday morning after a day of clashes involving shipping in the Strait of Hormuz and missile attacks against the United Arab Emirates. Relative calm returned to the Persian Gulf after US and Iranian forces exchanged fire Monday and Tehran launched missiles and drones toward the UAE, in the worst flareup since the ceasefire began less than a month ago. The violence erupted after US President Donald Trump announced “Project Freedom,” which he described as a humanitarian effort to guide neutral ships stranded in the Gulf through Hormuz. At least two merchant vessels transited the waterway with US assistance in fending off attacks, while two American warships entered the Gulf. Iran warned all ships against trying to get through Hormuz without its permission. It hit a South Korean bulk carrier and attacked an empty tanker belonging to the UAE’s state oil firm, Abu Dhabi National Oil Company . There were no reports of injuries on either ship. Read More: Ships Cluster Further From Hormuz Strait as Iran Widens Grip The American military fought off attacks from Iranian drones, missiles and armed small boats as it facilitated the passage of the two merchant vessels, US Central Command chief Brad Cooper said late on Monday. The developments came amid an impasse between Iran and the US, with the sides showing little sign of agreeing to a fresh round of peace talks soon. Tehran insists Washington must lift a naval blockade on its ports for that to happen. The US says the blockade is choking Iran’s oil exports and squeezing its economy, forcing it into concessions. “We see ‘Project Freedom’ as an attempt to break the logjam in the strait, which has cast a long shadow over the global economy,” said Becca Wasser , an analyst with Bloomberg Economics. “Still, it carries significant escalation risks, as the outbreak of fighting Monday illustrates.” Oil dipped on Tuesday, with Brent trading around 1.5% lower at $112.60 a barrel as of 9:36 a.m. in Lo...
The US played down the prospect of a return to active war with Iran after a day of clashes involving ships in the Strait of Hormuz and missile strikes against the United Arab Emirates. Attacks by Tehran on vessels in the Persian Gulf and the UAE didn’t constitute a breach of a ceasefire, General Dan Caine , the chairman of the Joint Chiefs of Staff, told reporters at the Pentagon on Tuesday. Speak...
The US played down the prospect of a return to active war with Iran after a day of clashes involving ships in the Strait of Hormuz and missile strikes against the United Arab Emirates. Attacks by Tehran on vessels in the Persian Gulf and the UAE didn’t constitute a breach of a ceasefire, General Dan Caine , the chairman of the Joint Chiefs of Staff, told reporters at the Pentagon on Tuesday. Speaking alongside him, Defense Secretary Pete Hegseth confirmed the truce that began just under a month ago is still in place. Violence erupted on Monday after US President Donald Trump announced “Project Freedom,” which he described as a humanitarian effort to guide neutral ships stranded in the Gulf through Hormuz. At least two merchant vessels transited the waterway with US assistance in fending off attacks, while two American warships entered the Gulf. Project Freedom is a defensive and temporary operation, Hegseth said, adding that the US naval blockade of Iranian ports remains in full effect. Both he and Caine reiterated that US forces are ready to resume combat operations if required, while calling on other nations to step in to help. More than 1,550 commercial vessels carrying some 22,000 sailors are currently trapped in the Persian Gulf, Caine said. Iran warned all ships against trying to get through Hormuz without its permission. It hit a South Korean bulk carrier and attacked an empty tanker belonging to the UAE’s state oil firm, Abu Dhabi National Oil Company , on Monday. There were no reports of injuries on either ship. Read More: Ships Cluster Further From Hormuz Strait as Iran Widens Grip The American military fought off attacks from Iranian drones, missiles and armed small boats as it facilitated the passage of the two merchant vessels, US Central Command chief Brad Cooper said late on Monday. The developments came amid an impasse between Iran and the US, with the sides showing little sign of agreeing to a fresh round of peace talks soon. Tehran insists Washingt...