BING-JHEN HONG/iStock Editorial via Getty Images I'm assigning a 'Buy' rating to Tokyo Electron Limited ( TOELY ) ( TOELF ) (8035.T). TOELY is trading at a less demanding EV/EBITDA ratio than its major international peers. My take is that a key re-rating trigger for this stock will be a faster pace of top-line growth and profitability enhancement in 1HFY27 (YE March). Corporate Overview TOELY call...
BING-JHEN HONG/iStock Editorial via Getty Images I'm assigning a 'Buy' rating to Tokyo Electron Limited ( TOELY ) ( TOELF ) (8035.T). TOELY is trading at a less demanding EV/EBITDA ratio than its major international peers. My take is that a key re-rating trigger for this stock will be a faster pace of top-line growth and profitability enhancement in 1HFY27 (YE March). Corporate Overview TOELY calls itself a supplier of "Semiconductor Production Equipment" or "SPE" in the media releases . The Role Its Offerings Play In Chip-Making Annual Report The firm derived 59% and 31% of its FY26 new SPE revenues from logic/foundry and DRAM segments, respectively. The balance (10%) came from non-volatile memory like NAND. Turnover Breakdown By Solution Earnings Presentation According to Polen Capital's research , TOELY boasts a "12% share in the wafer fabrication equipment market and a higher 20% in the fast-growing DRAM" space. Product Leadership Investor Slides Quarterly Results Were A Positive Surprise The group released its latest financials last Thursday. TOELY's topline was 9% higher YoY at ¥0.71T for Jan-Mar '26. The ¥0.21T bottom line during the same timeframe represented a 50% jump. These were equivalent to consensus beats of 3% and 15%, respectively, as per S&P Capital IQ. This also marked a clear reversal from the company's 16% sales contraction and 25% earnings decline in 3QFY2026. I've identified two major factors contributing to its outperformance. Management noted at the analyst call (S&P Capital IQ transcript) that "sales (for Q3) showed a temporary drop due to shipment timing." It's reasonable to think that the 4th quarter results benefited from a catch-up in revenue recognition as deliveries were made. Separately, TOELY's portfolio composition became more favorable in the recent three-month period. That's seen with a 90 bps year-on-year expansion in its 4QFY26 EBIT-to-revenue metric. Its "Field Solutions" division's turnover grew 17% YoY to ¥163B in the final q...
Dogecoin (CRYPTO: DOGE) , the meme coin which was created as a parody of Bitcoin (CRYPTO: BTC) in 2013, hit an all-time high of $0.74 in May 2021. That 284,515% gain from its earliest trading price of $0.00026 would have turned $1,000 into $2.85 million. But as of this writing, Dogecoin trades at about $0.11 per token -- so anyone who hopped aboard the bandwagon over the past five years is now und...
Dogecoin (CRYPTO: DOGE) , the meme coin which was created as a parody of Bitcoin (CRYPTO: BTC) in 2013, hit an all-time high of $0.74 in May 2021. That 284,515% gain from its earliest trading price of $0.00026 would have turned $1,000 into $2.85 million. But as of this writing, Dogecoin trades at about $0.11 per token -- so anyone who hopped aboard the bandwagon over the past five years is now underwater. Let's see why this little token fizzled out, and where it might be headed over the next 12 months. Image source: Getty Images. Continue reading
Memorystockphoto/iStock via Getty Images My coverage of Fresenius Medical Care ( FMS ) goes back a number of years at this point. The German company, Fresenius ( FSNUY ), has already gone well into profit and positive RoR - and I've even rotated the lion's share of my position. For an EU-based investor, the FMS ticker has always been the smaller of the two because I view the exposure to the variou...
Memorystockphoto/iStock via Getty Images My coverage of Fresenius Medical Care ( FMS ) goes back a number of years at this point. The German company, Fresenius ( FSNUY ), has already gone well into profit and positive RoR - and I've even rotated the lion's share of my position. For an EU-based investor, the FMS ticker has always been the smaller of the two because I view the exposure to the various segments with the European ticker as being far more attractive than just the "basic" (by comparison) FMS. It's also why the FMS ticker for me has historically warranted a higher discount. However, as a value-oriented investor, I'm always keenly aware of discounted equity and discounted upside. I believe that is what we have here. I believe the market is improperly discounting the company because of slight negative trends and a fear of a general downturn, coupled with macro fears about dialysis. Some of it may be warranted, and a lower overall growth rate may be argued for here - but in the end, I believe the discounting that's being applied here is too deep for what is happening. Why do I say this? Because when a company like Fresenius Medical Care, which is a BBB-rated company with a safe yield, trades at what amounts to a single-digit P/E despite a 7-9% AEPS growth rate, there needs to be very specific reasons as to why this company should trade at this, instead of a both more historically and market-accurate rate of 13-15x P/E. I use the 15x P/E as a baseline here for several reasons. First off, it represents the historical S&P500 average over the past 200 years. Secondly, it averages to about 6-7% earnings yield, which again is a good average. It's priced for fair value to moderate growth , and that's what we're looking for in a company like this. While things may go down slightly, the overall "GARP" scenario, or growth at a reasonable price, is a good starting point. With a starting point like this, we of course need to use context from this point onward to see what ...
RadixArk has launched with a $100m seed round backed by Advanced Micro Devices, aiming to broaden access to large scale AI infrastructure. The platform is built around SGLang and targets support for new AI model architectures and specialized hardware beyond traditional data center chips. AMD's role in the round highlights its interest in AI infrastructure and tools that sit on top of its silicon b...
RadixArk has launched with a $100m seed round backed by Advanced Micro Devices, aiming to broaden access to large scale AI infrastructure. The platform is built around SGLang and targets support for new AI model architectures and specialized hardware beyond traditional data center chips. AMD's role in the round highlights its interest in AI infrastructure and tools that sit on top of its silicon business. For investors tracking NasdaqGS:AMD around a $341.54 share price, most attention has...
JHVEPhoto Kraft Heinz ( KHC ) is expected to widen its losses this quarter by over 19% when it reports its Q1 results on May 5, after the markets close. The consensus EPS Estimate is $0.50 , while revenue is expected to come in around $5.88B, a 2% fall from a year ago. Ahead of the earnings, analysts are bearish on the company due to structural industry headwinds and persistent volume declines, wh...
JHVEPhoto Kraft Heinz ( KHC ) is expected to widen its losses this quarter by over 19% when it reports its Q1 results on May 5, after the markets close. The consensus EPS Estimate is $0.50 , while revenue is expected to come in around $5.88B, a 2% fall from a year ago. Ahead of the earnings, analysts are bearish on the company due to structural industry headwinds and persistent volume declines, which they believe undermine the firm’s turnaround plan. Last quarter, the firm announced a $600 million turnaround plan primarily aimed at restoring organic growth and improving market share, with a particular emphasis on the North American grocery business and iconic brands such as Heinz and Philadelphia Cream Cheese. The investment will be focused across four key areas- marketing, research and development, sales and promotions, and product improvement. Seeking Alpha analyst Blake Winiecki believes the investment plan would likely pressure near-term profits while targeting long-term demand recovery. CEO Steven Cahillane had highlighted in the previous quarter that Kraft anticipates a change in trend in the back half of this year and aims to exit 2026 with improved trends, setting up for organic growth in 2027. Over the last 3 months, EPS and revenue estimates have seen no upward revisions , while they have seen 10 and 7 downward moves, respectively, representing a bearish sentiment among analysts. However, over the last 2 years, KHC has beaten EPS estimates 100% of the time and has beaten revenue estimates 13% of the time, offering some hope to investors. More on Kraft Heinz Kraft Heinz: No Growth, Consumer Headwinds, And Depleting Margins Kraft Heinz: It Only Needs To Get Less Bad Kraft Heinz Vs. Mondelez: Same Roots, Diverging Trajectories Reading the tea leaves on Berkshire's view on Kraft Heinz U.S. struggles to define ‘ultraprocessed foods’ as Kennedy pushes crackdown
Kids from the southeast London borough of Lewisham are not afraid of sharing their opinions. I know this firstly because my daughter is one of them, and secondly because, once or twice, I’ve been absent-minded enough to take a bus around the time that the secondary school gates close. (Life tip: try to avoid doing this.) Around 40 years ago, one of those Lewisham kids was a precocious young chess ...
Kids from the southeast London borough of Lewisham are not afraid of sharing their opinions. I know this firstly because my daughter is one of them, and secondly because, once or twice, I’ve been absent-minded enough to take a bus around the time that the secondary school gates close. (Life tip: try to avoid doing this.) Around 40 years ago, one of those Lewisham kids was a precocious young chess player named Rachel. Meanwhile, 3,500 miles away, a precocious young man called Scott was graduating from Yale full of hopes and dreams. It may sound like the start of a particularly trite romantic comedy, but there’s little funny about this story and little love lost between its protagonists. Instead, it centres around rather unromantic subjects such as deep sea mines and gilt yields . When Rachel Reeves and Scott Bessent met during the Chancellor of the Exchequer’s trip to Washington last month, they ended up exchanging some pretty strong words, according to a Financial Times article that chimes with reporting from other news outlets including Bloomberg. Sources told my colleagues that Reeves clashed awkwardly with the Treasury Secretary over America’s war on Iran , which she has criticised as lacking coherence and leaving us no more safe from attack. The FT says Reeves angrily told Bessent he’s not her boss, and that she didn’t appreciate how he was speaking to her. A Downing Street spokesperson insisted today that Reeves and Bessent have a “good relationship” and are still talking, constructively, since their meeting on the fringes of the IMF summit in the US capital. He didn’t deny that an altercation occurred, however. The reasons for Reeves’ frustration over the conflict have been frequently covered in this newsletter. The OECD and the IMF both expect Britain to be the worst-affected major Western economy, while the Bank of England last week outlined a bad-case scenario in which UK growth effectively grinds to a halt and inflation touches 6% later this year. This mis...
In this article MSFT Follow your favorite stocks CREATE FREE ACCOUNT Asha Sharma, CEO of Xbox at Microsoft, speaks to employees at an Xbox town hall in Redmond, Washington, on Feb. 24, 2026. Microsoft Microsoft Xbox CEO Asha Sharma told employees in a Tuesday memo that she's appointing new leaders, as the software company looks to return its video game unit to growth. Sharma moved to Xbox in Febru...
In this article MSFT Follow your favorite stocks CREATE FREE ACCOUNT Asha Sharma, CEO of Xbox at Microsoft, speaks to employees at an Xbox town hall in Redmond, Washington, on Feb. 24, 2026. Microsoft Microsoft Xbox CEO Asha Sharma told employees in a Tuesday memo that she's appointing new leaders, as the software company looks to return its video game unit to growth. Sharma moved to Xbox in February as gaming chief Phil Spencer announced his retirement. She came to Microsoft in 2024 after executive stints at Meta and Instacart , becoming president of product in the CoreAI engineering group that works on GitHub Copilot, Visual Studio Code and other developer tools. "We need to evolve how we work and how we are organized across our platform," Sharma wrote in a memo viewed by CNBC. "Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals." Last week, Microsoft reported its fourth gaming revenue decline in the past six quarters. Satya Nadella , Microsoft's CEO, said the company is trying to win back fans of Xbox, the Bing search engine and other consumer assets. The Nintendo Switch and Switch 2 and Sony PlayStation 5 outsold Microsoft's Xbox Series X and Series S consoles in the first quarter, according to data from video game website VGChartz. In April, Sharma touted price cuts for Game Pass subscriptions that give gamers access to hundreds of titles. Xbox is "bringing in new leaders with consumer and technical expertise we do not yet have," she wrote in the memo. Four of those leaders are coming from the CoreAI group, overlapping with Sharma. Read more CNBC tech news Coinbase cuts headcount by 14% citing AI acceleration. The shares are gaining OpenAI sales leader leaves for role at Thrive Capital Palantir tops estimates on 85% revenue growth, fastest expansion since market debut in 2020 SEC and Elon Musk agree to settle lawsuit over Twitter buyout in 2022 ...
Wynn Resorts Ltd. is considering postponing the expected opening date of its casino resort in the United Arab Emirates due to construction delays brought on by the US war with Iran, according to a person familiar with the company’s plans. The $5.1 billion resort was scheduled to open in the Spring of next year. Work on the project briefly shut down after the fighting began but resumed shortly ther...
Wynn Resorts Ltd. is considering postponing the expected opening date of its casino resort in the United Arab Emirates due to construction delays brought on by the US war with Iran, according to a person familiar with the company’s plans. The $5.1 billion resort was scheduled to open in the Spring of next year. Work on the project briefly shut down after the fighting began but resumed shortly thereafter in March. The presence of attack drones and missiles in the region has caused work disruptions and a slump in tourism. Las Vegas-based Wynn is building, with local partners, what will be the first casino resort in the region. It’s located in the emirate of Ras Al-Khaimah on Al Marjan Island, part of a manmade archipelago about 50 miles from Dubai International Airport. It will offer 22 restaurants, an events center, private prayer rooms for men and women, and a grand ballroom with sweeping views of the nearby marina. The resort is part of a wave of entertainment related development in the region. Rival casino operator MGM Resorts International is building a hotel in Dubai. MGM said its project remains on track despite the decline in visitors to the region. “The tourism business in that particular neck of the world is down to like 15%, give or take,” MGM Chief Executive Officer Bill Hornbuckle said on an April 29 earnings call. “I’d say different occupancies are down to that level. So it will take some recovery time no matter what happens here over the next couple of months. But long-term, we remain very excited.” Wynn will report earnings on Thursday.
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. The S & P 500 rose as oil prices fell and investors reacted to a solid batch of earnings reports. West Texas Intermediate crude dropped 3%. Jim Cramer said Tuesday's stock market was a "nice bounce back" following Monday's retreat. Cramer identif...
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. The S & P 500 rose as oil prices fell and investors reacted to a solid batch of earnings reports. West Texas Intermediate crude dropped 3%. Jim Cramer said Tuesday's stock market was a "nice bounce back" following Monday's retreat. Cramer identified two prevailing themes: (1) the usual oil down and bond yields down, stocks up; and (2) it seems to be "software or hardware — yesterday, it was software's turn, today it's hardware's turn." 2. Amazon shares jumped to another all-time high Tuesday, one day following the launch of Amazon Supply Chain Services for businesses. After sitting down with Amazon CEO Andy Jassy on "Mad Money." Jim had one big takeaway: The payoff on this year's expected $200 billion of spending is not far off. Jim said that Amazon "naysayers" are failing to understand how the company will capitalize from its investments. "Amazon understands more than anyone," Jim argued. "After being dormant for a lot of time, [the stock's] going to run for a long time." Earlier on CNBC, Jim said the big spending guide is "offense that they're playing." Jim pointed out that Jassy is talking about making money in 2027-2028. "That's not that far away." When asked about whether Amazon was his favorite Mag 7 stock over Alphabet , Jim smiled and said Amazon is "so good." He did not choose. 3. Eaton fell over 3% after delivering strong earnings but missed on guidance. The stock will come back, Jim said. " We are buying because the market is wrong." DuPont , on the hand, surged over 9% after a small top line beat and raised its guidance. Jim is happy with DuPont's cash availability, allowing for potential mergers. Despite the rally, Jim said it is a "great time to not sell your DuPont" shares. Watch your inboxes and texts for our full analysis on both Eaton and DuPont earnings. 4. Stocks covered in Tuesday's rapid fire ...
Justin Paget/DigitalVision via Getty Images First Solar ( FSLR ) was upgraded to Buy from Hold by Freedom Broker analyst Dmitriy Pozdnyakov, who raised the price target to $260 from $250, citing potential upside from Section 232 policy support and steady operational execution. The upgrade follows first quarter results that were broadly in line with expectations, alongside a reaffirmation of full y...
Justin Paget/DigitalVision via Getty Images First Solar ( FSLR ) was upgraded to Buy from Hold by Freedom Broker analyst Dmitriy Pozdnyakov, who raised the price target to $260 from $250, citing potential upside from Section 232 policy support and steady operational execution. The upgrade follows first quarter results that were broadly in line with expectations, alongside a reaffirmation of full year 2026 guidance. Price target lifted on policy tailwinds Pozdnyakov said U.S. trade policy could provide a meaningful boost to First Solar’s domestic positioning, supporting the decision to turn more constructive on the stock. Shares were recently trading around $211, suggesting notable upside to the new $260 target. Strong shipments offset pricing pressure First Solar ( FSLR ) reported first quarter revenue of $1.04 billion, up 23.6% year over year. The figure came in slightly below the analyst’s estimate but aligned with broader consensus expectations. Growth was driven by higher module shipment volumes, which rose 30.9% year over year on a megawatt basis. However, average selling prices declined due to a greater mix of shipments to India. The company ended the quarter with backlog of 47.9 gigawatts, down from 50.1 gigawatts at the end of the prior quarter, reflecting strong shipments that exceeded new bookings. Module production reached 4.3 gigawatts in the quarter, while shipments totaled 3.8 gigawatts. First Solar ( FSLR ) expects to produce between 16.5 gigawatts and 17.5 gigawatts in 2026, increasing to as much as 20.5 gigawatts in 2027. Guidance reaffirmed with margin expansion ahead Operating income rose 56.1% year over year to $345.3 million, beating the consensus estimate of $310.9 million. Operating margin reached 33.0%, up from 26.1% a year earlier, supported by higher gross margin and lower startup costs tied to new facilities. Net income totaled $346.6 million, above the consensus estimate of $295.7 million. Diluted earnings per share came in at $3.22, comp...
Ireland's media regulator has opened investigations into Meta's Instagram and Facebook over concerns EU users cannot easily control what they see online and may be steered by algorithms into highly personalised feeds, it said on Tuesday. Under the EU's Digital Services Act (DSA), the regulator can probe major online platforms and search engines headquartered in Ireland, and fine them up to 6% o...
Ireland's media regulator has opened investigations into Meta's Instagram and Facebook over concerns EU users cannot easily control what they see online and may be steered by algorithms into highly personalised feeds, it said on Tuesday. Under the EU's Digital Services Act (DSA), the regulator can probe major online platforms and search engines headquartered in Ireland, and fine them up to 6% of global turnover for breaches of online content rules. Coimisiun na Mean, the regulator, said the suspected breaches concern whether users can easily select and modify the content they see, and whether Facebook and Instagram's interfaces deceive or manipulate them away from doing so.