Apple (NASDAQ:AAPL) is drawing fresh scrutiny from Wall Street as UBS (NYSE:UBS) maintains its Neutral rating and $280 price target on Apple shares. The firm’s latest note flags a meaningful deceleration in App Store activity that could weigh on the Services segment’s momentum heading into the March quarter. UBS analysis of App Store data shows ... Apple Holds Steady: UBS Keeps Neutral Rating as A...
Apple (NASDAQ:AAPL) is drawing fresh scrutiny from Wall Street as UBS (NYSE:UBS) maintains its Neutral rating and $280 price target on Apple shares. The firm’s latest note flags a meaningful deceleration in App Store activity that could weigh on the Services segment’s momentum heading into the March quarter. UBS analysis of App Store data shows ... Apple Holds Steady: UBS Keeps Neutral Rating as App Store Growth Slows to 7% in March Quarter
Boarding1Now Delta Air Lines ( DAL ) became the latest major airline to raise fees for checked bags on domestic and select short-haul international routes. Of course, the airline sector in general is looking at ways to offset soaring jet fuel costs tied to the conflict in the Middle East. Typically, higher baggage fees are easier to pass off to consumers than bumps in airfares. Notably, the baggag...
Boarding1Now Delta Air Lines ( DAL ) became the latest major airline to raise fees for checked bags on domestic and select short-haul international routes. Of course, the airline sector in general is looking at ways to offset soaring jet fuel costs tied to the conflict in the Middle East. Typically, higher baggage fees are easier to pass off to consumers than bumps in airfares. Notably, the baggage fee increase for Delta ( DAL ) on its domestic routes is the first in two years and follows similar moves by rivals United Airlines ( UAL ) and JetBlue Airways ( JBLU ). JetBlue ( JBLU ) increased checked bag fees first, and United ( UAL ) followed with a $10 hike on first and second checked bags for tickets purchased starting April 3. Meanwhile, Delta ( DAL ) is increasing the fees for first and second checked bags to $45, up from $35, on domestic and some short-haul international routes. The biggest hike from the Atlanta-based carrier is on the third checked bag, which is going up by $50 to $200. More on Delta Air Lines Delta Air Lines: Why It Is A Relative Winner (Rating Upgrade) Delta Air Lines Will Potentially Lead In This Year Of Chaos Delta Air Q1 Earnings Preview: A High Bar To Fly Over, Shares Fairly Valued Delta leads off airline earnings season with a jet fuel advantage Trump budget proposes TSA job cuts, $1.5B reduction in funding
Ceri Breeze/iStock Editorial via Getty Images The investment thesis for Bank of America ( BAC ) today seems to me to be leaning on the durability of net interest income growth in an environment that is beginning to change. The bank continues to deliver solid results, with NII still healthy and resilient and a well-diversified business base. But the market has clearly stopped looking at what has be...
Ceri Breeze/iStock Editorial via Getty Images The investment thesis for Bank of America ( BAC ) today seems to me to be leaning on the durability of net interest income growth in an environment that is beginning to change. The bank continues to deliver solid results, with NII still healthy and resilient and a well-diversified business base. But the market has clearly stopped looking at what has been delivered recently and has started to question what is sustainable from now on. It is in this gap between perception and reality that I see the opportunity starting to form as the 1Q26 earnings approach ( scheduled for April 15 , before the opening bell). At the same time, BAC no longer seems to me to be just a pure "spread bank," and this may not yet be well embedded in its share price. The evolution of fee businesses—wealth and capital markets, more specifically—suggests a more balanced model throughout the cycle and with the ability to cushion part of a normalization of the NII. This particular NII normalization, on the other hand, seems to me well embedded in BAC's share price. I don't see BAC as an obvious or immediate bull case, but in a scenario where the worst already seems widely priced in, the setup starts to get more interesting for those who are willing to wait for this confirmation. The Market Has Already Moved On In the last earnings season, broken down by sub-segments, bank revenues came as follows, as depicted in the chart below. Author, company's filings It is interesting how there is a low correlation between the 4Q25 revenue performance and year-to-date stock returns of these large U.S. banks. In a way, it reinforces the idea that the market is already looking far beyond the recent results and focused on the durability of earnings in a seemingly shifting macro environment. Data by YCharts As ~59% of BAC's revenues come from the consumer and wealth management sides of the business, this is a bank with a greater exposure in consumer spending than other "...
The standup is taking their club night to new heights with an all-day extravaganza. They talk about new talent, learning to laugh in hard times and ‘performative activism’ Kemah Bob’s face lights up when they tell me about their “passion project that has got really out of hand”. In 2018, the Texan standup created FOC It Up , a comedy club for femmes of colour, after wanting to work with more peopl...
The standup is taking their club night to new heights with an all-day extravaganza. They talk about new talent, learning to laugh in hard times and ‘performative activism’ Kemah Bob’s face lights up when they tell me about their “passion project that has got really out of hand”. In 2018, the Texan standup created FOC It Up , a comedy club for femmes of colour, after wanting to work with more people of colour “that weren’t dudes”. “It really was that simple,” they grin. Starting as an hour-long slot within a festival run by the cabaret company The Cocoa Butter Club , it has grown into a nurturing space for many comedians: they’ve hosted countless mixed-bill comedy nights, launched a podcast and taken shows to the Edinburgh fringe. “I wanted to have a space that felt different – warm and inclusive,” says Bob. “Not in a performative way. In the way that’s like: they’re all here, and that’s really cool.” Not one to stand still, Bob is preparing for the club’s biggest event yet – a full day of workshops, masterclasses and networking opportunities, finishing with a “banging” comedy show at Soho theatre. Bob laughs when announcing the event’s name: “FOC Fest! It is just so cheeky.” Continue reading...
LeoPatrizi/iStock via Getty Images Wall Street's major averages were in the red on Tuesday as reports surfaced that the U.S. has attacked military targets on Kharg Island, while President Donald Trump threatens Iran's “imminent destruction” if the country does not agree to a ceasefire. The benchmark S&P 500 ( SP500 ) was last -0.6%, while the Nasdaq Composite ( COMP:IND ) was +0.8%, and the blue-c...
LeoPatrizi/iStock via Getty Images Wall Street's major averages were in the red on Tuesday as reports surfaced that the U.S. has attacked military targets on Kharg Island, while President Donald Trump threatens Iran's “imminent destruction” if the country does not agree to a ceasefire. The benchmark S&P 500 ( SP500 ) was last -0.6%, while the Nasdaq Composite ( COMP:IND ) was +0.8%, and the blue-chip Dow ( DJI ) was -0.7%. Over in the bond market, the benchmark 10-year Treasury yield ( US10Y ) was 2 basis points higher at 4.36%, while the 2-year Treasury yield ( US2Y ) rose 1 basis point to 3.87%. Crude oil futures ( CL1:COM ) were higher at $115, while Brent ( CO1:COM ) was also higher at $110 per barrel. “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will,” Trump said on Truth Social, ahead of the 8 p.m. deadline he set for the opening of the Strait of Hormuz. “We will find out tonight, one of the most important moments in the long and complex history of the world. 47 years of extortion, corruption, and death will finally end,” he wrote. In addition, the U.S. has reportedly attacked military targets on Kharg Island as the 8 p.m. ET deadline arrives. According to media reports, electricity supply was disrupted in parts of the Iranian island after projectiles struck transmission lines. In economic news, d urable goods orders fell more than expected in February. The consumer credit data is due during market hours. More on markets Volatility Falls On Ceasefire Hopes, Yet Caution Remains Stagflation First, Disinflation Later $100 Oil Won't Sink The U.S. Economy Iran rejects U.S. demands; ceasefire bid breaks down – WSJ Trump threatens to hit Iran ‘extremely hard’ even as war nears end; oil surges, futures dip
The budget proposal would force CISA to operate with a significantly lower budget than previous years, citing the government's claims that the election misinformation programs were used to "target the President."
The budget proposal would force CISA to operate with a significantly lower budget than previous years, citing the government's claims that the election misinformation programs were used to "target the President."
Jordan Siemens/DigitalVision via Getty Images Maui Land & Pineapple Company, Inc. ( MLP ) remains in the permitting and planning phase for its major developments, with the current results being driven by non-strategic land sales, as discussed in previous coverage . While leasing revenue focused on existing retail, light industrial, and other commercial assets is growing, there isn't much movement ...
Jordan Siemens/DigitalVision via Getty Images Maui Land & Pineapple Company, Inc. ( MLP ) remains in the permitting and planning phase for its major developments, with the current results being driven by non-strategic land sales, as discussed in previous coverage . While leasing revenue focused on existing retail, light industrial, and other commercial assets is growing, there isn't much movement on the residential projects, which, in any case, are going to see their value dictated to shareholders somewhat by interest rate dynamics. We wouldn't abide by plays right now that are at odds with yield curve dynamics while being exposed to real estate, even though it is quite clear that the theoretical value of MLP could be considerably more than the current market cap. Results Leasing revenues are up 33% thanks to new commercial leases signed in 2025, but also due to some land leases being signed. A post-wildfire recovery in rents that come from stakes in the income of some of their commercial tenants is also helping support results a bit. This seems to be the segment that saw some decent pace since the previous quarter as well. Q3 Revenues (10-Q) The real estate land sales were continuing to be supported by sales of non-strategic land parcels that continue to help keep cash in a reasonable state to coast into the process as best as possible of developing the Kapalua Resort, starting with Mauka , which is their most actual project and appears to be the closest to any actual, concrete development. It's still in the planning and pre-development phase, and they already have entitlements. But building does not seem to have started yet. The good news is that Mauka is by far their largest residential development, and it is the closest to fruition. Even the relief housing for the wildfires seems to be paused, where they are getting compensation for the construction activity of housing on their land, which is leased for free. The total project is around $35 million, and they hav...
MicroStockHub/iStock via Getty Images Key Takeaways Markets: U.S. equities delivered resilient but volatile performance in the fourth quarter. Momentum-driven themes tied to artificial intelligence (AI) extended into the early part of the quarter before reversing, resulting in heightened volatility and greater stock-level dispersion. The benchmark Russell 3000 Growth Index advanced 1.1%. Contribut...
MicroStockHub/iStock via Getty Images Key Takeaways Markets: U.S. equities delivered resilient but volatile performance in the fourth quarter. Momentum-driven themes tied to artificial intelligence (AI) extended into the early part of the quarter before reversing, resulting in heightened volatility and greater stock-level dispersion. The benchmark Russell 3000 Growth Index advanced 1.1%. Contributors: Vertex Pharmaceuticals ( VRTX ), Freeport McMoRan ( FCX ) and Natera ( NTRA ) as well as underweights to Microsoft and Oracle. Stock selection in consumer discretionary. Detractors: Netflix ( NFLX ), Doximity ( DOCS ), underweights to Alphabet ( GOOGL ) and Apple ( AAPL ) and not holding Eli Lilly ( LLY ). Stock selection in communication services and health care. Outlook: Markets remain resilient, but volatility has increased as momentum-driven areas cooled and stock-level dispersion widened, reinforcing the importance of disciplined stock selection and a balanced approach to portfolio construction. Performance Review An underweight to Alphabet was a primary detractor. We had been consistently adding to Alphabet since repurchasing the stock in April 2024, as it had been trading at a sub-market multiple, but we regret not increasing our exposure more aggressively after the DOJ antitrust case concluded with less onerous penalties than feared. The company's success with AI-supported digital advertising, its Google Gemini chatbot and TPU chips for AI workloads boosted its shares more than 25% for the quarter. An underweight to the outperforming Apple also weighed on results. Netflix fell due to investor uncertainty and concerns over its proposed $72 billion acquisition of Warner Bros. Discovery's studio assets, a move complicated by a rival bid from Paramount/Skydance, potential regulatory hurdles and integration risks, muddling its previously clear growth narrative. In health care, Eli Lilly rose strongly after striking a deal with the U.S. government to offer its GLP-1 ...
Astronauts had a call with the US president from space after setting record for the farthest-traveled humans from Earth The crew of Artemis II phoned home from the moon on Monday night after their record-breaking day , to find Donald Trump musing about how he had saved the US space agency Nasa from closing down and telling the astronauts how much they deserved the honor of the president seeking th...
Astronauts had a call with the US president from space after setting record for the farthest-traveled humans from Earth The crew of Artemis II phoned home from the moon on Monday night after their record-breaking day , to find Donald Trump musing about how he had saved the US space agency Nasa from closing down and telling the astronauts how much they deserved the honor of the president seeking their autographs. The intermittently uncomfortable 12-minute Earth to space call, facilitated by Nasa administrator and Trump acolyte Jared Isaacman, featured a lengthy period of silence, several references by the president about his friendship with the retired Canadian ice hockey player Wayne Gretzky, and how “America is the hottest country in the world right now”. Continue reading...
Cantor Fitzgerald is striking a constructive tone on U.S. equities, arguing that recent market weakness presents a compelling entry point for investors willing to tolerate near-term volatility. In its latest bi-weekly macro equity report, the firm acknowledged that geopolitical tensions in the Middle East—particularly uncertainty surrounding Iran and the Strait of Hormuz—are likely to keep markets...
Cantor Fitzgerald is striking a constructive tone on U.S. equities, arguing that recent market weakness presents a compelling entry point for investors willing to tolerate near-term volatility. In its latest bi-weekly macro equity report, the firm acknowledged that geopolitical tensions in the Middle East—particularly uncertainty surrounding Iran and the Strait of Hormuz—are likely to keep markets unsettled in the short run. Despite these risks, Cantor Fitzgerald points to resilient economic fundamentals. Corporate earnings remain solid, and the broader U.S. economy appears capable of absorbing temporary shocks, including elevated oil prices and supply chain disruptions. The firm emphasizes that the duration of the conflict will be critical, suggesting clarity could emerge within the next one to two weeks if diplomatic progress is made. Importantly, the firm noted that while the S&P 500 ( SP500 ) has declined only about 6% from recent highs, underlying valuations have adjusted more significantly. The index’s price-to-earnings multiple has contracted from 22.8 to 19.6 over the past five months—a roughly 13% decline—bringing valuations closer to historical norms. Cantor Fitzgerald argues that this divergence between price levels and valuation compression indicates a deeper reset beneath the surface. As a result, the firm views the current pullback not as a structural breakdown, but as a short-term dislocation that may offer attractive long-term buying opportunities. S&P 500 Funds: ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( FXAIX ), ( VFIAX ), ( VFFSX ), and ( SWPPX ). More on markets From oil surge to economic slowdown: SA analysts see recession risks rising 15 dividend stocks to watch as the Middle East conflict continues Prediction markets signal a prolonged Middle East conflict as oil risks mount Apollo breaks down gold’s surge and sudden pullback Roth Capital Partners flags caution as markets enter Q2
hapabapa/iStock Editorial via Getty Images Article Thesis My last article about Palantir Technologies ( PLTR ) dates from October, last year, when I saw it as a “Hold”. Although the stock was clearly above my Fair Value estimate, that was offset by other factors, like a high and accelerating growth rate, operating leverage, a narrow-to-strong economic moat, and a market focused on momentum and not...
hapabapa/iStock Editorial via Getty Images Article Thesis My last article about Palantir Technologies ( PLTR ) dates from October, last year, when I saw it as a “Hold”. Although the stock was clearly above my Fair Value estimate, that was offset by other factors, like a high and accelerating growth rate, operating leverage, a narrow-to-strong economic moat, and a market focused on momentum and not on valuation. I presented two strategies: A relatively simple covered Call strategy initially designed for extra-income and margin of safety for existing shareholders. However, I also detailed in my article how, by repeatedly rolling our Call options started with Palantir at ~$85, we could have an extra-income even with Palantir briefly touching ~$200 (although a smaller one if we don’t want to be assigned). A more complex delta-neutral strategy with a high reward/risk ratio, benefiting from increasing IV (Implied volatility) just before earnings. Today, I want to highlight business developments in recent months and then reassess their economic moat and Fair Value. I will just quickly review the first strategy, and enter into more details for the second one, with even more improvements. Business Highlights Q4’25 came with stunning results for Palantir: Figure 1: Palantir Q4'25 Results (Earnings Presentation) But, while the Government segment was more balanced, with 60% total growth and 66% US revenue growth, the Commercial segment was still heavily based on the US with 137% revenue growth, and only 8% for international revenue growth YoY. Some victories on their Government front, drawn either from the presentation or afterwards, are: Palantir and the U.S. Navy launched ShipOS to deploy Palantir's Foundry and AIP solutions across America's maritime industrial base. Palantir received enhanced authorization from DISA (the Defense Information Systems Agency), to include on-premises and edge deployments. Palantir’s Maven Command & Control system will become an official program ...
hapabapa/iStock Editorial via Getty Images Article Thesis My last article about Palantir Technologies ( PLTR ) dates from October, last year, when I saw it as a “Hold”. Although the stock was clearly above my Fair Value estimate, that was offset by other factors, like a high and accelerating growth rate, operating leverage, a narrow-to-strong economic moat, and a market focused on momentum and not...
hapabapa/iStock Editorial via Getty Images Article Thesis My last article about Palantir Technologies ( PLTR ) dates from October, last year, when I saw it as a “Hold”. Although the stock was clearly above my Fair Value estimate, that was offset by other factors, like a high and accelerating growth rate, operating leverage, a narrow-to-strong economic moat, and a market focused on momentum and not on valuation. I presented two strategies: A relatively simple covered Call strategy initially designed for extra-income and margin of safety for existing shareholders. However, I also detailed in my article how, by repeatedly rolling our Call options started with Palantir at ~$85, we could have an extra-income even with Palantir briefly touching ~$200 (although a smaller one if we don’t want to be assigned). A more complex delta-neutral strategy with a high reward/risk ratio, benefiting from increasing IV (Implied volatility) just before earnings. Today, I want to highlight business developments in recent months and then reassess their economic moat and Fair Value. I will just quickly review the first strategy, and enter into more details for the second one, with even more improvements. Business Highlights Q4’25 came with stunning results for Palantir: Figure 1: Palantir Q4'25 Results (Earnings Presentation) But, while the Government segment was more balanced, with 60% total growth and 66% US revenue growth, the Commercial segment was still heavily based on the US with 137% revenue growth, and only 8% for international revenue growth YoY. Some victories on their Government front, drawn either from the presentation or afterwards, are: Palantir and the U.S. Navy launched ShipOS to deploy Palantir's Foundry and AIP solutions across America's maritime industrial base. Palantir received enhanced authorization from DISA (the Defense Information Systems Agency), to include on-premises and edge deployments. Palantir’s Maven Command & Control system will become an official program ...