Midfielder suspended by club for remarks on future Argentinian remains part of leadership group at club Chelsea are open to Enzo Fernández captaining the side again this season and hope to reintegrate the midfielder after his comments over his future. Fernández, who is on Real Madrid’s shortlist as they look to revamp their midfield, was dropped after whipping up a storm during last month’s intern...
Midfielder suspended by club for remarks on future Argentinian remains part of leadership group at club Chelsea are open to Enzo Fernández captaining the side again this season and hope to reintegrate the midfielder after his comments over his future. Fernández, who is on Real Madrid’s shortlist as they look to revamp their midfield, was dropped after whipping up a storm during last month’s international break. The Argentina international was not particularly subtle when he mentioned Madrid as the European city in which he would most like to live and praised the former Real Madrid midfielders Luka Modric and Toni Kroos. He also angered Chelsea by questioning the departure of Enzo Maresca , who was replaced by Liam Rosenior as head coach in January. Continue reading...
Adam Bartosik/iStock via Getty Images On our previous coverage of Alexandria Real Estate Equities Inc. ( ARE ), we identified the potential for a shorter term bounce. Our experience is that you can get a short bounce here, maybe after 2–3 days of selling. Source: It's Not The Dividend Cut, It's The Debt Load But our longer term view of the company remained firmly negative. The fact is that today t...
Adam Bartosik/iStock via Getty Images On our previous coverage of Alexandria Real Estate Equities Inc. ( ARE ), we identified the potential for a shorter term bounce. Our experience is that you can get a short bounce here, maybe after 2–3 days of selling. Source: It's Not The Dividend Cut, It's The Debt Load But our longer term view of the company remained firmly negative. The fact is that today they forecasted worse than almost all analysts and their leverage dials are moving up despite $3.0 billion of expected sales. You got to be a brave soul to think this is "an accumulating opportunity." Where do we stand? This is even more untouchable from a longer-term perspective than at any point in our previous coverage. Source: It's Not The Dividend Cut, It's The Debt Load Since that article came out, ARE did indeed validate our conclusions on both timeframes. Data by YCharts It bottomed shortly after and did a rip-roaring rally to suck in the next round of investors. It is now, even lower than before. We go over some key thoughts here and tell you why we believe a wipe-out remains probable. Supply & Demand If you go by ARE's 2026 guidance from their Q4-2025 conference call, we are looking for a dip in the occupancy rate in Q1-2026, followed by some growth in the back half of 2026. Our view is that we will certainly get that dip, but the growth in the back half won't materialize. What is more interesting here is that ARE plans to unload $2.6 billion worth of properties in 2026. While this does sound like an impressive figure, it is rendered less impressive by two factors. First the amount of construction spending that ARE has planned for 2026. ARE Q4-2025 Supplemental Second, the total amount of debt it actually has. In fact, the cumulative impact from its asset sales and declining net operating income (NOI), will mean another increase in debt to EBITDA. ARE Q4-2025 Supplemental But where the problems for ARE really shine through, are in the overall trajectory for supply ...
Adam Bartosik/iStock via Getty Images On our previous coverage of Alexandria Real Estate Equities Inc. ( ARE ), we identified the potential for a shorter term bounce. Our experience is that you can get a short bounce here, maybe after 2–3 days of selling. Source: It's Not The Dividend Cut, It's The Debt Load But our longer term view of the company remained firmly negative. The fact is that today t...
Adam Bartosik/iStock via Getty Images On our previous coverage of Alexandria Real Estate Equities Inc. ( ARE ), we identified the potential for a shorter term bounce. Our experience is that you can get a short bounce here, maybe after 2–3 days of selling. Source: It's Not The Dividend Cut, It's The Debt Load But our longer term view of the company remained firmly negative. The fact is that today they forecasted worse than almost all analysts and their leverage dials are moving up despite $3.0 billion of expected sales. You got to be a brave soul to think this is "an accumulating opportunity." Where do we stand? This is even more untouchable from a longer-term perspective than at any point in our previous coverage. Source: It's Not The Dividend Cut, It's The Debt Load Since that article came out, ARE did indeed validate our conclusions on both timeframes. Data by YCharts It bottomed shortly after and did a rip-roaring rally to suck in the next round of investors. It is now, even lower than before. We go over some key thoughts here and tell you why we believe a wipe-out remains probable. Supply & Demand If you go by ARE's 2026 guidance from their Q4-2025 conference call, we are looking for a dip in the occupancy rate in Q1-2026, followed by some growth in the back half of 2026. Our view is that we will certainly get that dip, but the growth in the back half won't materialize. What is more interesting here is that ARE plans to unload $2.6 billion worth of properties in 2026. While this does sound like an impressive figure, it is rendered less impressive by two factors. First the amount of construction spending that ARE has planned for 2026. ARE Q4-2025 Supplemental Second, the total amount of debt it actually has. In fact, the cumulative impact from its asset sales and declining net operating income (NOI), will mean another increase in debt to EBITDA. ARE Q4-2025 Supplemental But where the problems for ARE really shine through, are in the overall trajectory for supply ...
Paylocity ( PCTY ) announced the acquisition of AI-powered recruiting automation company, Grayscale Labs. Financial terms were not disclosed. Paylocity does not expect the acquisition to have a material impact on fourth quarter or fiscal 2026 financial results. The company will update financial guidance in the normal course of business in its third quarter fiscal 2026 earnings release. Grayscale e...
Paylocity ( PCTY ) announced the acquisition of AI-powered recruiting automation company, Grayscale Labs. Financial terms were not disclosed. Paylocity does not expect the acquisition to have a material impact on fourth quarter or fiscal 2026 financial results. The company will update financial guidance in the normal course of business in its third quarter fiscal 2026 earnings release. Grayscale expands Paylocity’s recruiting capabilities with AI-powered recruiting automation. The acquisition reflects Paylocity’s broader strategy to embed AI across its platform, delivering intelligence within core workflows spanning HR, finance, and IT. More on Paylocity Paylocity: Appears Undervalued With Decent Rebound Potential Paylocity Holding Corporation (PCTY) Q2 2026 Earnings Call Transcript Paylocity Holding Corporation 2026 Q2 - Results - Earnings Call Presentation Paylocity raises fiscal 2026 revenue guidance to $1.742B as AI-driven platform adoption accelerates Paylocity GAAP EPS of $0.92 beats by $0.09, revenue of $416.1M beats by $7.63M
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
J Studios/DigitalVision via Getty Images Willdan: What's Next After The Steep Fall? Recently, I came across what I thought was a very interesting company. To be honest, I have not paid much attention to the industrials space, which is where this company is categorized. The industrials sector ( XLI ) has gone on a rampaging run for the past year, being one of the best performing sectors, up >23%. A...
J Studios/DigitalVision via Getty Images Willdan: What's Next After The Steep Fall? Recently, I came across what I thought was a very interesting company. To be honest, I have not paid much attention to the industrials space, which is where this company is categorized. The industrials sector ( XLI ) has gone on a rampaging run for the past year, being one of the best performing sectors, up >23%. And for the year to date, it’s also up nearly 6%, dodging the decline that has affected other risk-on sectors like technology and financial services. So I think it has been a pretty good year for industrials companies, but an even better one for Willdan Group, Inc. ( WLDN ). Just a quick reminder, WLDN is up >100% for the past one year, and that has already accounted for the bear market regime that it has unfortunately fallen into since the start of the year. I guess if you follow the company, you'll probably know that the stock is down almost 50% from the January highs. And since it reported its earnings release in February, the stock hasn't been able to shake off the pessimism. And, I think it has to do with what I thought was a relatively languid outlook provided for its earnings for 2026. Willdan: Not Your Typical AI Value Chain Play Willdan strategy (Willdan) Before we go into that, I guess you will probably want to know that this company has a very interesting business model. Willdan is considered a consulting services company, with the core customer base "utilities, private industry, and public agencies at all levels of government." In other words, it's pretty diverse, thus allowing the company to participate in several group levers right now. These include opportunities especially in hyperscaler data centers location planning analysis, electricity and engineering, and also in the program management opportunities across a wide range of energy-related companies. I wouldn't consider it an AI picks and shovels pure play, akin to what we know of those that partake in the ...
cagkansayin/iStock via Getty Images Market overview Elevated political uncertainty was front and center during the quarter, with the end of the longest-ever federal government shutdown. The shutdown disrupted economic data flow and added uncertainty to interest-rate expectations and risk markets. In addition, concerns about U.S. Federal Reserve independence escalated due to political criticism of ...
cagkansayin/iStock via Getty Images Market overview Elevated political uncertainty was front and center during the quarter, with the end of the longest-ever federal government shutdown. The shutdown disrupted economic data flow and added uncertainty to interest-rate expectations and risk markets. In addition, concerns about U.S. Federal Reserve independence escalated due to political criticism of Chair Powell and speculation about his successor and contributed to long-end interest-rate instability. Elevated tariffs and a weakening employment picture continued to pressure inflation and complicate the Fed's policy path. The Fed continued its rate-cutting cycle with two reductions of 25 basis points (bps) in the federal funds rate during the quarter. (A basis point is 1/100 of one percent.) The 175 bps in cuts since September 2024 left the rate in the 3.50%–3.75% range at year-end. Returns were meaningfully positive across all asset classes during the quarter, with the S&P 500 Index returning 2.66%, the Russell 2000 Index rising 2.19%, the MSCI ACWI (ex US) Index up 5.05%, the Bloomberg US Treasury Index returning 0.90% and the Bloomberg Municipal Bond Index up 1.56%. Treasury yields were mixed during the quarter: lower by 14 bps in the 2-year space, flat in 5- and 10-year bonds and higher by 11 bps in 30-year issues, with the 10-year yield ending the quarter at 4.18%. The municipal yield curve flattened during the quarter, as yields increased on the short end, declined in the intermediate space and were relatively flat beyond 20 years. However, municipals ended the year with a meaningfully steeper curve. With mostly lower yields during the quarter, municipals outperformed Treasuries. The Bloomberg Municipal Bond Index returned 1.56%, while the Bloomberg U.S. Treasury Index was higher by 0.90%. Credit Quality (%) as of December 31, 2025 Columbia High Yield Municipal Fund AAA 1.7 AA 5.3 A 12.6 BBB 10.4 BB 12.4 B 1.0 CCC 0.4 Not Rated 52.6 Cash & Equiv. 3.6 Click to enla...
Today Is "Bridge Day" By Benjamin Picton, Senior Market Strategist at Rabobank As traders return from the Easter break markets are again counting down to an ultimatum deadline set by President Trump. Trump took to Truth Social over the weekend to warn the Iranian regime to make a deal, threatening that Tuesday will be “Power Plant Day” and “Bridge Day” where infrastructure of that kind will be tar...
Today Is "Bridge Day" By Benjamin Picton, Senior Market Strategist at Rabobank As traders return from the Easter break markets are again counting down to an ultimatum deadline set by President Trump. Trump took to Truth Social over the weekend to warn the Iranian regime to make a deal, threatening that Tuesday will be “Power Plant Day” and “Bridge Day” where infrastructure of that kind will be targeted by American forces if Iran does not open the Strait of Hormuz. Trump has set a deadline of 8pm ET for a deal to be reached; Iran has said that it will retaliate against energy and water infrastructure of Gulf states if it is struck. So, today is ‘Bridge Day’, but will it be a day for burning bridges, or building them? WILD FOOTAGE 🔴 A tanker blast near the Bridge of the Americas in Panama City ignited a major fire that spread to 2 additional storage units at the Balboa tank facility. Reports of 3 injuries, no foul play suspected (as of now) pic.twitter.com/GeAcicCVQe — Open Source Intel (@Osint613) April 6, 2026 US equity futures are pointing slightly negative in early trade. Ten-year sovereign yields are mostly lower, short yields are mixed, and hints of haven buying are again evident in precious metals, the Swiss Franc and Japanese Yen. Bitcoin is selling off in early trade after catching a sharper bid on Monday in continuation of a rally that has been underway since the Friday before last. Asian stocks have opened mixed with Chinese indices down slightly, the Nikkei mostly unchanged and the Aussie ASX is rallying to be up 1.5% at time of writing. Axios reported over the weekend that the US and Iran were discussing terms for a 45-day ceasefire, but that prospects for agreement are slim. This puts us firmly back into ‘escalate to de-escalate’ territory, while also pushing us further along the severity spectrum where the Strait remains closed for longer and damage to economic infrastructure means that ‘re-opening’ does not imply any kind of rapid snap-back for the glo...
FirstRand Ltd. plans to exit its UK motor-finance business after saying it will raise a provision to cover compensation for clients over claims they were missold car loans in the UK by almost half to £750 million ($994 million). The South African lender has increased the amount from £510 million after the UK’s Financial Conduct Authority published its final redress plan for the saga at the end of ...
FirstRand Ltd. plans to exit its UK motor-finance business after saying it will raise a provision to cover compensation for clients over claims they were missold car loans in the UK by almost half to £750 million ($994 million). The South African lender has increased the amount from £510 million after the UK’s Financial Conduct Authority published its final redress plan for the saga at the end of March, it said Tuesday. Collectively, the industry has to pay about £9.1 billion overall to consumers, with 12.1 million loans eligible. Given the watchdog’s decision, the business case for a UK consumer-finance entity is “not within” FirstRand’s risk appetite and it will work to on “an orderly ownership transition” from Aldermore Group, which it bought in 2017. Companies in the UK’s motor-finance industry — including Lloyds Banking Group Plc and Close Brothers Group Plc — spent months arguing that the regulator’s proposals were too strict and failed to take proper account of last year’s Supreme Court ruling, setting aside billions of pounds to pay affected customers. FirstRand reiterated its view that the FCA plan “significantly and inappropriately diverges” from the Supreme Court ruling and that it reserves its legal rights. The shares rose as much as 2.3% and had gained 0.6% to 87.18 rand by 4:25 p.m. in Johannesburg. Its provision is almost three times more than the £275 million of profit the group extracted from motor-finance activities from over a decade of lending in the UK, it said. Read more: FirstRand’s UK Future Hinges on Motor Finance Decision, CEO Says The case centers around commissions that helped car dealers earn thousands of pounds for themselves while allowing banks to push up interest rates. After the UK Supreme Court examined issues with disclosures on the payments, it ruled in August that banks should only pay compensation where the most serious cases of abuse were found. About two months later, the Financial Conduct Authority revealed that some of the ...