Zack Polanski must be more nimble in fending off attacks than the former Labour leader or he risks suffering the same fate For more than a decade, Britain’s acrimonious politics has included a fundamental but often misunderstood battle. Sometimes it is fought out in the open and sometimes more in the shadows. Its protagonists extend far beyond Westminster, into the media, big business, the civil s...
Zack Polanski must be more nimble in fending off attacks than the former Labour leader or he risks suffering the same fate For more than a decade, Britain’s acrimonious politics has included a fundamental but often misunderstood battle. Sometimes it is fought out in the open and sometimes more in the shadows. Its protagonists extend far beyond Westminster, into the media, big business, the civil service, activist movements and important but neglected parts of the electorate. And despite how long the battle has been going on, it’s still hard to say which side will prevail. On one side are millions of left-leaning Britons – many of them young – whose economic prospects are worsening, whose anxieties about the climate crisis are rising, whose horror at Israel and the US’s wars is absolute, and whose alienation from the compromises of conventional Labour politics is deep. This is the large minority of the electorate attracted by Jeremy Corbyn’s attempt to radicalise Labour between 2015 and 2019, and now increasingly drawn to Zack Polanski’s leftwing, populist reshaping of the Greens . For both leaders, the ultimate, hugely ambitious aim was or is to create a much more equal, environmentally sustainable country with a much more ethical foreign policy. Andy Beckett is a Guardian columnist Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here . Continue reading...
luza studios/E+ via Getty Images This is my initial coverage of Lam Research. Recently, I analyzed Applied Materials, and issued a ''Strong Buy'' rating. You can read the article here . Now, I want to continue my work in the sector by analyzing Lam Research. In this article, I will review the macro trends impacting the current super cycle, analyze the underlying technology, and discuss the latest ...
luza studios/E+ via Getty Images This is my initial coverage of Lam Research. Recently, I analyzed Applied Materials, and issued a ''Strong Buy'' rating. You can read the article here . Now, I want to continue my work in the sector by analyzing Lam Research. In this article, I will review the macro trends impacting the current super cycle, analyze the underlying technology, and discuss the latest earnings release. Finally, I will give my estimate on the fair valuation. Based on these factors, I am issuing a ''Buy'' rating. Introduction and Complexity Moat Lam Research is a wafer fabrication equipment manufacturer, specializing specifically in etching and deposition. Deposition involves placing layers of materials onto a silicon wafer, while etching involves removing certain parts of the deposited material to create microscopic transistors. Understanding the complexity of this process is, in my view, essential as it allows an investor to better understand the moat Lam Research has. As I noted in my article on Applied Materials, which specializes in deposition, Lam Research has a technological supremacy in highly specialized etching, specifically plasma dry etching used to perform high aspect ratio etch required for 3D NAND and 3D DRAM. Let me explain. In 3D NAND, layers of memory cells are stacked on top of each other. All of these layers need to be connected, and a manufacturer needs to create a ''well'' to connect them, called memory holes. These holes need to be narrow, and can’t be created by traditional wet etching. Here, their plasma dry process comes in, as it uses plasma ions that are accelerated perpendicularly onto the chip’s surface. This allows manufacturers to carve perfectly straight down without accidentally damaging the walls of the memory hole. I believe that the technical complexity of the process is what provides the company a moat, and as such should justify a higher PE multiple. AI Secular Tailwinds The current AI infrastructure buildout is causi...
Chip and AI-related stocks were largely in the green on Tuesday, with Intel ( INTC ) and Micron Technology ( MU ) both surging, after U.S. Defense Secretary Pete Hegseth said the ceasefire between the U.S. and Iran "is not over." The tech-focused Nasdaq Composite ( COMP:IND ) climbed around 1%. At the same time, the benchmark S&P 500 ( SP500 ) rose about 0.78%. The blue-chip Dow ( DJI ) also grew ...
Chip and AI-related stocks were largely in the green on Tuesday, with Intel ( INTC ) and Micron Technology ( MU ) both surging, after U.S. Defense Secretary Pete Hegseth said the ceasefire between the U.S. and Iran "is not over." The tech-focused Nasdaq Composite ( COMP:IND ) climbed around 1%. At the same time, the benchmark S&P 500 ( SP500 ) rose about 0.78%. The blue-chip Dow ( DJI ) also grew nearly 0.55%. Hegseth said the U.S. effort to guide vessels out of the Strait of Hormuz is temporary and "separate and distinct" from ongoing military operations in the region, one day after the U.S. military started operations to guide ships in the waterway, CNN reported . He also said, "The ceasefire is not over." Meanwhile, the U.S. and Iran made competing claims on Tuesday over which side controlled the Strait of Hormuz. While Hegseth said the U.S. effort to free trapped vessels was ongoing, Iran’s state broadcaster dismissed the U.S. effort as a failure and said Iranian control over the strait had "intensified," the New York Times reported . Brent Futures ( CO1:COM ) fell about 3.5%, while Crude Oil Futures ( CL1:COM ) declined nearly 24% on Tuesday. Shares of AI chipmaker Nvidia ( NVDA ) dipped about 1%, while Advanced Micro Devices ( AMD ) jumped nearly 4%. Qualcomm ( QCOM ) surged about 11%, while Broadcom ( AVGO ) climbed around 2%. Several other AI and networking-related stocks were in the green. Applied Optoelectronics ( AAOI ) soared about 8%, while Coherent ( COHR ) jumped nearly 4%. Lumentum ( LITE ) and Ciena ( CIEN ) each climbed about 3%, while Corning ( GLW ) rose around 2%. Arista Networks ( ANET ), Cisco ( CSCO ), and Celestica ( CLS ) each rose nearly 1%. Micron Technology ( MU ) surged around 12%, while Intel ( INTC ) soared about 14%. Marvell Technology ( MRVL ) jumped about 5%, while GlobalFoundries ( GFS ) climbed about 4% following a second quarter outlook beat. Arm ( ARM ) rose about 2%, while Analog Devices ( ADI ) grew nearly 1%. Texas Instrumen...
Louise Arbour will serve as Canada’s representative of King Charles and carry out ceremonial and constitutional duties Canada’s prime minister, Mark Carney, has appointed a former supreme court justice and war crimes prosecutor as the country’s new governor general, saying her appointment would reflect the importance of global institutions. Louise Arbour, a celebrated jurist, served as United Nati...
Louise Arbour will serve as Canada’s representative of King Charles and carry out ceremonial and constitutional duties Canada’s prime minister, Mark Carney, has appointed a former supreme court justice and war crimes prosecutor as the country’s new governor general, saying her appointment would reflect the importance of global institutions. Louise Arbour, a celebrated jurist, served as United Nations commissioner and prosecuted war crimes in the former Yugoslavia and Rwanda, will serve as Canada’s representative of King Charles III. Continue reading...
Joe Raedle/Getty Images News The U.S. Securities and Exchange Commission proposed rule amendments that would give publicly traded companies the option to file financial statements twice a year instead of on a quarterly basis, the agency said Tuesday. The commission contends that current federal securities law is too rigid, preventing companies and their investors from deciding which interim report...
Joe Raedle/Getty Images News The U.S. Securities and Exchange Commission proposed rule amendments that would give publicly traded companies the option to file financial statements twice a year instead of on a quarterly basis, the agency said Tuesday. The commission contends that current federal securities law is too rigid, preventing companies and their investors from deciding which interim reporting frequency best serves the business and its investors. " Today’s proposed amendments, if ultimately adopted, would provide companies with increased regulatory flexibility in this regard," SEC Chairman Paul S. Atkins said in a statement. If the amendments are adopted, companies would have the choice to continue reporting results four times a year, with three 10-Q filings and one 10-K filing, or they could file one 10-S and one 10-K each year. Under the proposal, the filing deadline for semiannual reports on Form 10-S would be 40 or 45 days, depending on the company's filer status. The public comment period on the proposal will be open for 60 days after the proposing release is published in the Federal Register, the SEC 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 the SEC SEC Proposal: From Quarterly To Semi-Annual Reporting. What Would It Mean For Investors? U.S. SEC, Treasury seek more data on private credit risks Robinhood, Webull, eToro shares jump after SEC removes day-trading limit Supreme Court weighs limits on SEC’s disgorgement power
Zia Yusuf’s mad idea of building detention centres for illegal immigrants exclusively in areas that vote Green works a treat It’s a classic from the Donald Trump playbook: everything’s been going a bit tits up, so you create a distraction. Get everyone looking in the wrong direction. Last week was the worst in months for Reform. First the party was pegged back in the opinion polls, then the Guardi...
Zia Yusuf’s mad idea of building detention centres for illegal immigrants exclusively in areas that vote Green works a treat It’s a classic from the Donald Trump playbook: everything’s been going a bit tits up, so you create a distraction. Get everyone looking in the wrong direction. Last week was the worst in months for Reform. First the party was pegged back in the opinion polls, then the Guardian revealed Nigel Farage had been given a £5m handout by Christopher Harborne , a Thai-based crypto dealer. A donation that Nige had never thought to declare. Not the best look for a party leader who claims to be a man of the people. I mean why don’t we all get by on multimillion-pound handouts from our friends. The best you can say is that at least Nige wasn’t trying to defraud the state by claiming universal credit. Since then, Reform has been on the back foot. Sending out countless press releases trying to explain the situation away. Ones that often contradicted each other. Continue reading...
Earnings Call Insights: Vitesse Energy, Inc. (VTS) Q1 2026 Management view "It's a privilege to begin my tenure as CEO and President of Vitesse as of last Friday" (CEO, Director & President Jamie Benard), and he added, "Vitesse's primary objective of returning capital to stockholders has not changed." "Our Board reaffirmed that commitment last week in declaring our second quarter cash dividend at ...
Earnings Call Insights: Vitesse Energy, Inc. (VTS) Q1 2026 Management view "It's a privilege to begin my tenure as CEO and President of Vitesse as of last Friday" (CEO, Director & President Jamie Benard), and he added, "Vitesse's primary objective of returning capital to stockholders has not changed." "Our Board reaffirmed that commitment last week in declaring our second quarter cash dividend at an annualized rate of $1.75 per share" (CEO Benard), while emphasizing a consistent strategy: "disciplined capital allocation towards high rate of return opportunities" and "maintain a conservative balance sheet and hedge at prices that support our dividend." "The Powder River Basin acquisition that closed in early April is a good example of that strategy in action" (CEO Benard), adding, "It is accretive in all key financial metrics and funded with equity to preserve balance sheet flexibility." "Production for the first quarter averaged 15,962 barrels of oil equivalent per day, up 7% year-over-year and above our internal expectations" (Senior Advisor Brian Cree), and he noted, "These results do not yet include any contribution from the Powder River Basin acquisition, which closed in early April." "This acquisition is anticipated to add an average of 1,400 net barrels of oil equivalent per day over the remainder of 2026" (Senior Advisor Cree), and it was "closed without issue for 1.9 million shares of Vitesse common stock." "For the remainder of 2026, we have approximately 73% of our oil production hedged through swaps and collars with a weighted average floor of $64.68 and ceiling of $67.20 per barrel" (Senior Advisor Cree), and "approximately 50% of our 2026 natural gas production hedged through collars with a weighted average floor of $3.73 and ceiling of $4.91 per MMBtu." "For the quarter, adjusted EBITDA was $33.4 million and we had an adjusted net loss of $300,000" (Chief Financial Officer James Henderson), while "GAAP net loss was $42.3 million, driven by a $48.2 mill...
Crypto exchange Coinbase Global Inc. will cut around 14% of its workforce, citing a need to manage costs in volatile markets and technological advances in artificial intelligence. Around 700 employees will be affected by the changes, with cuts expected to happen mostly in the second quarter, and the company expects to incur as much as $60 million in restructuring expenses. Bloomberg's Paul Gulbber...
Crypto exchange Coinbase Global Inc. will cut around 14% of its workforce, citing a need to manage costs in volatile markets and technological advances in artificial intelligence. Around 700 employees will be affected by the changes, with cuts expected to happen mostly in the second quarter, and the company expects to incur as much as $60 million in restructuring expenses. Bloomberg's Paul Gulbberg joins Bloomberg Intelligence to discuss. (Source: Bloomberg)
Shares of Eaton (NYSE: ETN) took a painful shock on Tuesday morning. The global provider of power management hardware and related services reported strong Q1 results, but investors quickly focused on management's modest guidance targets instead. As a result, Eaton's stock fell as much as 8.1% before recovering to a 3.4% drawdown as of 11:40 a.m. ET. Two electric cables with connectors in the form ...
Shares of Eaton (NYSE: ETN) took a painful shock on Tuesday morning. The global provider of power management hardware and related services reported strong Q1 results, but investors quickly focused on management's modest guidance targets instead. As a result, Eaton's stock fell as much as 8.1% before recovering to a 3.4% drawdown as of 11:40 a.m. ET. Two electric cables with connectors in the form of the Earth. Eaton's Q1 sales rose 17% year over year, landing at $7.45 billion. The average Wall Street analyst was looking for $7.13 billion. Further down the income statement, adjusted earnings rose 3.3% to $2.81 per share. Here, the Street had expected $2.73 per share. Continue reading
J Studios/DigitalVision via Getty Images Introduction Bandwidth ( BAND ) is a cloud-based communications platform-as-a-service provider that powers voice and messaging traffic for hyperscalers, large enterprises and a fast-growing population of AI-native software developers building on the global PSTN. The firm reported its Q1 2026 earnings on Thursday morning, beating consensus on both the top an...
J Studios/DigitalVision via Getty Images Introduction Bandwidth ( BAND ) is a cloud-based communications platform-as-a-service provider that powers voice and messaging traffic for hyperscalers, large enterprises and a fast-growing population of AI-native software developers building on the global PSTN. The firm reported its Q1 2026 earnings on Thursday morning, beating consensus on both the top and bottom line, and management lifted the full year outlook on the back of stronger-than-expected AI voice demand. Shares went into the print at approximately $24 and finished Friday's session at $45, which represents a roughly 90% rally over two trading days. Bandwidth 2-day price action (Seeking Alpha) We believe that the investment proposition for Bandwidth remains compelling even after this sharp re-rating. The communications platform is exhibiting real signs of operating leverage and its higher-margin software services portfolio is scaling alongside enterprise AI voice agent adoption. In the most recent quarter, the firm posted record revenues of $209M, growing 20% YoY, while its software services ARR exit rate climbed 67% sequentially to $25M. This a metric that is being seriously under-modeled by analysts at the present time. The Bandwidth narrative has shifted in 2026. For the last two years, the platform was viewed by the market as a low-margin SaaS reseller of voice minutes with limited operating leverage. The Q1 results puts that narrative to rest. Between the Salesforce Agentforce partnership announcement , two new $2M+ enterprise contracts in financial services and a 50 basis point lift in non-GAAP gross margin, we view Bandwidth as repositioning itself as the underlying voice infrastructure layer for the agentic AI economy. We are initiating coverage on shares of BAND with a buy rating. A blowout first quarter Bandwidth out-performed expectations on both the top line and the bottom line in Q1. Revenues trickled in at $209M, beating the consensus estimate by app...