Blackstone Inc. and KKR & Co. are in talks with Alphabet Inc . to give the companies they own access to Google’s artificial intelligence models, according to people familiar with the matter. The talks come as OpenAI and Anthropic PBC each announced deals in quick succession Monday with alternative asset managers to form AI consultancies that will turn private equity-backed firms into a new revenue...
Blackstone Inc. and KKR & Co. are in talks with Alphabet Inc . to give the companies they own access to Google’s artificial intelligence models, according to people familiar with the matter. The talks come as OpenAI and Anthropic PBC each announced deals in quick succession Monday with alternative asset managers to form AI consultancies that will turn private equity-backed firms into a new revenue source for AI companies. In addition to Blackstone and KKR, Alphabet is also in discussions with private equity firm EQT AB , the people said, asking not to be identified as the discussions are confidential. The discussions aren’t exclusive, and there are no assurances they’ll lead to a deal, the people said. Representatives for Blackstone, EQT, KKR and Google declined to comment. Some of the biggest private equity managers such as Blackstone and KKR have injected billions into data centers and other key aspects of the AI play, and the latest discussions stand to make the investment firms an even bigger presence in the boom. They also thrust some of AI’s biggest champions deeper into a debate on the risks of throwing so much money at a nascent industry. “A couple of years ago, private equity firms were waiting to see what was happening with AI and its impact, encouraging their portfolio companies to do trials around adoption,” said Tanveer Kapadia, partner at Boston Consulting Group. “Now they are getting more actively involved.” Thoma Bravo Signs Multiyear Deal With Google for AI Adoption Vista Strikes Deal to Speed Up Google AI in Software Portfolio Google Cloud Partners With CVC to Boost Agentic AI Adoption Unlike the OpenAI and Anthropic arrangements, the Google deals wouldn’t create a separate consulting business, the people said. The consultancies are set to give the AI developers a ready base of customers on which to test their services. Such enterprise contracts also help AI startups weather a more fickle consumer base. The joint ventures could one day hire hundred...
rattanavan Baunoi/E+ via Getty Images Astounding Alpha and Strong Quant Ratings Ultra Clean Holdings, Inc, ( UCTT ), a mid-cap stock (market-cap of $3.3B) from the semiconductor landscape, has played a blinder in 2026; we’re only a little over 4 months into the new year, but the UCTT stock has already surged by a mammoth 189%, which translates to a 3.5x multiple on the return of other semiconducto...
rattanavan Baunoi/E+ via Getty Images Astounding Alpha and Strong Quant Ratings Ultra Clean Holdings, Inc, ( UCTT ), a mid-cap stock (market-cap of $3.3B) from the semiconductor landscape, has played a blinder in 2026; we’re only a little over 4 months into the new year, but the UCTT stock has already surged by a mammoth 189%, which translates to a 3.5x multiple on the return of other semiconductor stocks, and a stunning 14.5x multiple over its peers from the Russell 2000! YCharts In addition to that, if one were to peruse Seeking Alpha’s quant rating tables, one will see that UCTT is second on the list of 32 stocks that make up the semiconductor materials and equipment universe. By all accounts, UCTT appears to be in vogue. Seeking Alpha So, what’s fuelling UCTT’s popularity in the markets, and should investors consider joining this bandwagon? Why Should UCTT Be On Investors’ Watchlists UCTT has experienced plenty of peaks and troughs since it got listed on the Nasdaq around 22 years back, but the explosive rally this year has mainly been fuelled by a rapid pick-up in AI infrastructure, and how that’s resulting in broader buoyancy across the broader semiconductor ecosystem. Before I elaborate on that, it’s important to first understand UCTT’s role in the overall value chain. April 2026 presentation While UCTT doesn’t produce chips, nor does it make the machines that produce those chips, it does provide some critical parts, tools, modules, and subsystems that are integral to the smooth functioning of the chip-making machines. It’s also worth noting that UCTT’s hardware is primarily relied upon by two giants in the WFE (Wafer Fab Equipment) space- LAM Research ( LRCX ) and Applied Materials ( AMAT ), both of which account for roughly 60% of group sales (note that over the past 5 years, UCTT has also done well to increase its exposure to other semiconductor OEMs as well). For instance, UCTT’S hardware for LRCX typically includes pallet mounted gas-delivery systems tha...
HJBC/iStock Editorial via Getty Images Siemens Healthineers ( SEMHF )( SMMNY ) is rather interesting. The situation here is a demerger from Siemens ( SMAWF ), which controls the stock on the public markets. There will be dis-synergies. However, there is also latent growth coming from Varian which is the star asset and is ahead of competition, namely Elekta AB ( OTCPK:EKTAF )( OTCPK:EKTAY ), in ter...
HJBC/iStock Editorial via Getty Images Siemens Healthineers ( SEMHF )( SMMNY ) is rather interesting. The situation here is a demerger from Siemens ( SMAWF ), which controls the stock on the public markets. There will be dis-synergies. However, there is also latent growth coming from Varian which is the star asset and is ahead of competition, namely Elekta AB ( OTCPK:EKTAF )( OTCPK:EKTAY ), in terms of margin and offering. Like Elekta , they are compounding their model by selling units and building a base for their service revenue for that equipment, an attractive razor and blades model. They are experiencing some pressures on less core segments. But they have attractive free cash flow yield for a healthcare play. A buy on balance with a relative valuation angle on similar forward FCFY as lagging Elekta, but note that there will be some forced selling after the spin-off most likely, which is the way Siemens is hoping to offload the business, and the dis-synergies will have to be overcome by productivity gains and the natural margin lift that comes from growth in the business. Also, the diagnostics business is expected to see continued pressure into the Q2 from the volume-based pricing dynamics in the Chinese market. Latest Results Volume-based pricing has come for the medtech industry in the Chinese market. This was something that began in China for pharmaceuticals some years ago, and the more competitive purchasing system is putting direct pressure on prices and unit economics for the diagnostics business. The hit to margin has been clear , volumes have also been hit. In general, there have been reforms in China to increase competitiveness and integrity in procurement for the public sphere, in this case hospitals, changing reimbursement as well. This is something that is affecting comps in the first half of the year. There were some negative mix effects as well, with a major order in Brazil of equipment being delivered, and the model primarily focused on razor-and-...
Laser company IPG Photonics (NASDAQ: IPGP) stock got blasted for a 24.8% loss through 11:45 a.m. ET Tuesday morning despite beating on in its Q1 earnings report. Heading into the report, analysts forecast IPG to earn $0.27 per share ( pro forma ) on $256.5 million in sales. In fact, IPG earned $0.29 per share on $265.5 million in sales. Image source: Getty Images. Continue reading
Laser company IPG Photonics (NASDAQ: IPGP) stock got blasted for a 24.8% loss through 11:45 a.m. ET Tuesday morning despite beating on in its Q1 earnings report. Heading into the report, analysts forecast IPG to earn $0.27 per share ( pro forma ) on $256.5 million in sales. In fact, IPG earned $0.29 per share on $265.5 million in sales. Image source: Getty Images. Continue reading
Earnings Call Insights: Ball Corporation (BALL) Q1 2026 Management View “We had a good start to 2026” and “global volumes were up nearly 1% year-over-year,” with “comparable operating earnings grew 10% year-over-year” and “comparable diluted EPS up 22% year-over-year,” driven by “strong operational execution, cost discipline and capital allocation” (CEO Ron Lewis). “We also remain focused on share...
Earnings Call Insights: Ball Corporation (BALL) Q1 2026 Management View “We had a good start to 2026” and “global volumes were up nearly 1% year-over-year,” with “comparable operating earnings grew 10% year-over-year” and “comparable diluted EPS up 22% year-over-year,” driven by “strong operational execution, cost discipline and capital allocation” (CEO Ron Lewis). “We also remain focused on shareholder returns” and “are on track to deliver in the range of $800 million to shareholders in 2026,” while the company highlighted execution initiatives including “completing the Benepack acquisition to expand EMEA capacity” and Millersburg, Oregon “on track towards full ramp up in 2027” (CEO Lewis). “We updated how we report our segment financials,” including amending comparable operating earnings “to exclude such items as factoring fees, interest income and other impacts driven by corporate financing activity,” while stating “there is not a material change to how we measure or report overall company earnings” (Senior VP & CFO Daniel Rabbitt). Outlook “We continue to expect to be on track with our algorithm of 10% plus comparable diluted EPS growth” and “anticipate free cash flow of greater than $900 million in 2026” (CFO Rabbitt). “We will repurchase at least $600 million of shares, which will bring our total capital return to shareholders to $800 million in 2026,” with “year-end 2026 net debt to comparable EBITDA to be around 2.7x” (CFO Rabbitt). Modeling items reiterated for 2026 included: “effective tax rate on comparable earnings is expected to be slightly above 23%,” “interest expense is expected to be in the range of $320 million,” “CapEx is expected to be in line with GAAP D&A,” and “reported adjusted corporate undistributed costs… expected to be in the range of $175 million” (CFO Rabbitt). Financial Results Ball reported “comparable diluted earnings per share of $0.94” for Q1 2026, alongside “global shipped beverage volumes increased approximately 1% year-over-year...
Getty Images In October, when I covered Dorian LPG ( LPG ), I said it was a classic cyclical income play with a strong balance sheet, and disciplined if variable dividend policy. My investment thesis was simple – LPG was a well-run VLGC operator. It had operating leverage to rates, and paid a nice irregular dividend as we expected the cycle to improve. Since then, the stock is up around 40% on a t...
Getty Images In October, when I covered Dorian LPG ( LPG ), I said it was a classic cyclical income play with a strong balance sheet, and disciplined if variable dividend policy. My investment thesis was simple – LPG was a well-run VLGC operator. It had operating leverage to rates, and paid a nice irregular dividend as we expected the cycle to improve. Since then, the stock is up around 40% on a total return basis –but, and here’s the important thing – the underlying economics have moved even faster. My earlier bull case scenario was $50k/day, and my price target on that basis was ~$54. Today, Dorian is fixing vessels above ~$58k/day, pushing realized earnings beyond what was my bull case. However, the stock is still trading only at ~$39 – implying that market valuation is still playing catch up to potential earnings upside. This creates an opportunity once again. Current quarter earnings are already locked in at these high levels, and earnings visibility is unusually high for a spot-exposed shipper. That tells me current valuation is not capturing either this earnings power, or even the dividend potential that typically compounds with earnings, since the company gives out most of its excess cash to shareholders in irregular dividends. What Changed Since October The most important change is rate – this has moved well beyond even my bull case. Dorian was already doing $50,333/day TCE by the prior quarter , with Helios pool spot at $50,500/day. They have now fixed the current quarter in excess of $58,000 – a nearly ~16% rise. This is not marginal, this is a step-up. And it did not come abruptly. As late 2025 data suggests, a majority of days were already being fixed around the high-$50k range. The current quarter takes up from there, and goes further up. The visibility we see in this quarter is also important. Dorian has already fixed ~99% of its calender days for the quarter. This is unusually high for a spot-exposed company (Helios pool). In the prior quarter earnin...
urbancow/E+ via Getty Images Shares of heavy-duty truck and auto aftermarket parts company, Motorcar Parts of America, Inc. ( MPAA ) have rallied 23.93% (YoY). MPAA released its fiscal Q3 2026 earnings report in February 2026 and is expected to announce its fiscal Q4 2026 financial report in June 2026. Despite the 11.4% (YoY) revenue decline in fiscal Q3 2026, I will explain why I am rating this s...
urbancow/E+ via Getty Images Shares of heavy-duty truck and auto aftermarket parts company, Motorcar Parts of America, Inc. ( MPAA ) have rallied 23.93% (YoY). MPAA released its fiscal Q3 2026 earnings report in February 2026 and is expected to announce its fiscal Q4 2026 financial report in June 2026. Despite the 11.4% (YoY) revenue decline in fiscal Q3 2026, I will explain why I am rating this stock as a hold. I expect business to accelerate into fiscal Q4 2026 and 2027, supported by heightened ordering activity and a steady annual revenue guidance for FY 2026. MPAA forecasts FY 2026 sales of $750-$760 million, with the midpoint at $755 million—slightly below the record $757.4 million in FY 2025. This marginal decline suggests management expects stable revenue for the year, despite a sales impact of about $50 million. However, MPAA was adversely affected by customer consolidation dynamics in the quarter, with a single customer being responsible for the decline in sales. This overreliance on a major client responsible for almost 30% of quarterly sales may cause a significant impact on forward sales into FY 2027. Key Revenue drivers to watch out for In its Fiscal Q3 2026 earnings report, MPAA stated that it expects a rebound in ordering activity into fiscal Q4 2026. The brake caliper market, which MPAA is involved in, was valued at $10.01 billion in 2025 and $10.41 billion in 2026. It is expected to reach $14.2 billion by 2034 (growing at a CAGR of 3.96%- within the forecast period of 2026 to 2034). The company was clear that a robust use of brake-related capacity was a key pillar towards driving its gross margins into FY 2027. Then again, the gross margin in fiscal Q3 2026 grew 19.6% (YoY), compared to 24.1% (YoY) recorded in fiscal Q3 2025 (a difference of 4.5 percentage points). While this difference is attributed to lower sales in the quarter, it is expected to grow with the sales recovery into fiscal Q4 2026. At the midpoint of $755 million for the FY 2026 (ann...
WANAN YOSSINGKUM AI giant Anthropic ( ANTHRO ) introduced 10 ready-to-run agent templates designed to take on the most time-consuming tasks in financial services, including building pitchbooks, screening know-your-customer files, and closing books at month-end, the company said Tuesday. Each of the agents ships as a plug-in in Claude Cowork and Claude Code and as a cookbook for Claude Managed Agen...
WANAN YOSSINGKUM AI giant Anthropic ( ANTHRO ) introduced 10 ready-to-run agent templates designed to take on the most time-consuming tasks in financial services, including building pitchbooks, screening know-your-customer files, and closing books at month-end, the company said Tuesday. Each of the agents ships as a plug-in in Claude Cowork and Claude Code and as a cookbook for Claude Managed Agents, it said. As a result, Anthropic says Claude can be applied to financial work in a matter of days rather than months. Claude can work across Microsoft ( MSFT ) Excel, PowerPoint, and Word through add-ins for Microsoft 365. Outlook will be added soon. Claude connects to dozens of market data, research platforms, and financial companies' internal systems, including S&P Capital IQ ( SPGI ), MSCI ( MSCI ), PitchBook, Morningstar ( MORN ), Chronograph, LSEG ( LSEGY ) ( LDNXF ), and Daloopa, along with the customer's firm's data warehouses, research repositories, and customer relationship management systems. New connectors include Dun & Bradstreet, Fiscal AI, Financial Modeling Prep, Guidepoint, IBISWorld, SS&C IntraLinks, Third Bridge, and Verisk ( VRSK ), Anthropic ( ANTHRO ) said. The 10 agent templates are pitch builder, meeting preparer, model builder, market researcher, valuation review, general ledger reconciler, month-end closer, statement auditor, and KYC screener. More on Anthropic Anthropic Is Taking Over Enterprise Wall Street Lunch: Anthropic Tries To Contain Claude Code Instruction Leak Anthropic's IPO: What You Need To Know White House discusses vetting AI models before public release: report Baldwin stock jumps on expanded Anthropic relationship for Claude deployment
hapabapa/iStock Editorial via Getty Images Introduction I'll never forget covering Fiserv, Inc.'s ( FISV ) massive 40% wipeout last October. The company reported a weak quarter and destroyed its forward guidance. My article on that disaster ended up getting a lot of attention, mostly because I was one of the few Seeking Alpha analysts who hadn't given a Buy rating on the stock before it dropped. P...
hapabapa/iStock Editorial via Getty Images Introduction I'll never forget covering Fiserv, Inc.'s ( FISV ) massive 40% wipeout last October. The company reported a weak quarter and destroyed its forward guidance. My article on that disaster ended up getting a lot of attention, mostly because I was one of the few Seeking Alpha analysts who hadn't given a Buy rating on the stock before it dropped. Previous Coverage Looking at that guidance and the underlying business model back then, I decided to stay away from the stock, not chasing this drop, even though it was trading at the lowest price since 2018. It looked like it could be a value play, but staying on the sidelines proved to be the right call. Even if you ignore today’s drop, the shares are down by another 11% since my last update, while the S&P 500 ( SP500 ) is up by about 4.5%. Watching the stock today gave me a kind of déjà vu. Thankfully for anyone still holding it, the drop isn't quite as brutal this time. The stock is down by roughly 8% in the pre-market after yet another frustrating quarter. Today's Price In this article, I want to take another close look at the business and not only talk about this quarter but also, using the recent numbers, try to understand where the company is headed and whether there is any kind of opportunity here, and if so, for what kind of investor. Q1 2026 I am really glad I took the time to break down October’s earnings back then, because without that context, there is absolutely no point in analyzing any of these subsequent quarters. Looking at Q1 in a vacuum means missing the entire narrative driving the stock price and investor sentiment, which is arguably the most critical metric for companies in this space right now. Just to refresh your memory of what happened two quarters ago: Fiserv reported a catastrophic quarter. They missed EPS estimates by over 60 cents, making around $2 on the metric. Revenue missed expectations by half a billion dollars on a $5.4 billion target. T...
Earnings Call Insights: MPLX (MPLX) Q1 2026 Management View “MPLX delivered over $1.7 billion of adjusted EBITDA, which enabled a return of over $1.1 billion to our unitholders,” said Maryann Mannen (President, CEO & Chairman of the Board Maryann Mannen), adding that “2026 is a year of execution with multiple investments expected to transition from construction to operations and EBITDA generation....
Earnings Call Insights: MPLX (MPLX) Q1 2026 Management View “MPLX delivered over $1.7 billion of adjusted EBITDA, which enabled a return of over $1.1 billion to our unitholders,” said Maryann Mannen (President, CEO & Chairman of the Board Maryann Mannen), adding that “2026 is a year of execution with multiple investments expected to transition from construction to operations and EBITDA generation.” Mannen tied the 2026 setup to project in-service timing: “With Secretariat I coming online in April, Harmon Creek III in the third quarter and the Titan gas treating complex reaching over 400 million cubic feet per day of treating capacity in the fourth quarter… year-over-year growth in 2026 will exceed that of 2025.” On the Permian/Delaware strategy, Mannen said, “in the Delaware Basin of the Permian we treated over 150 million cubic feet per day of our committed producer sour gas at our recently acquired Titan facility,” and added, “Last quarter, we announced our intention to further expand our gas processing footprint with Secretariat II… expected online in the second half of 2028.” Mannen highlighted midstream egress and downstream buildout: “The Blackcomb natural gas pipeline continues to progress as planned, and is expected to enter service in the fourth quarter,” and “the expansion of the BANGL pipeline to 300,000 barrels per day is expected online in the fourth quarter.” Carl Hagedorn (Executive VP, CFO & Director Carl Hagedorn) described Crude Oil and Products Logistics as higher on rates but softer on volumes: “Segment adjusted EBITDA increased $14 million when compared to the first quarter of 2025,” while “Pipeline volumes decreased 4% year-over-year… due to Marathon's refining turnaround and maintenance activities.” Hagedorn detailed Natural Gas and NGL Services drivers: “Segment adjusted EBITDA decreased $42 million compared to the first quarter of 2025,” citing that “2025 included a onetime $37 million benefit,” plus “a $45 million impact from divestiture… l...
Earnings Call Insights: Archer-Daniels-Midland Company (ADM) Q1 2026 Management View “Today, ADM reported adjusted earnings per share of $0.71 and total segment operating profit of $764 million for the first quarter of 2026,” said Juan Luciano (Chairman, CEO & President), adding, “Our trailing 4-quarter adjusted ROIC was 6.4% and cash flow from operations before working capital changes was $442 mi...
Earnings Call Insights: Archer-Daniels-Midland Company (ADM) Q1 2026 Management View “Today, ADM reported adjusted earnings per share of $0.71 and total segment operating profit of $764 million for the first quarter of 2026,” said Juan Luciano (Chairman, CEO & President), adding, “Our trailing 4-quarter adjusted ROIC was 6.4% and cash flow from operations before working capital changes was $442 million for the quarter.” Luciano said Q1 conditions improved for biofuels-linked businesses: “Our crushing and ethanol businesses benefited from an increasingly constructive commodity and margin environment,” and “soybean crush and ethanol margins strengthened meaningfully as the market anticipated the finalization of renewable volume obligations for 2026 and 2027.” Luciano announced a guidance increase: “We are raising our earnings guidance range for 2026,” and “Our full year adjusted EPS guidance range is now $4.15 to $4.70, up from our previous range of $3.60 to $4.25.” Monish Patolawala (CFO & Executive VP) highlighted AS&O volatility tied to timing: “AS&O segment operating profit for the first quarter of 2026 was $273 million, down 34% compared to the prior year quarter,” and “Included in the first quarter of 2026 is approximately $275 million of net negative mark-to-market and timing impacts.” Patolawala pointed to ethanol-driven strength: “For the first quarter, Carbohydrate Solutions segment operating profit was $356 million, representing an increase of 48% compared to the prior year quarter,” and “Overall, base ethanol EBITDA margins for the quarter were higher both sequentially and compared to the prior year quarter.” Outlook Patolawala said the higher 2026 range is driven by execution and margins: “There are 2 main drivers to our guidance range. First, the expectation that our team will continue to solidly execute against our plan for the remainder of the year; and second, the expectation that the improved margin environment for our crushing and ethanol businesses...
In terms of pricing, the original AirPods Max remained stubbornly high even years after their debut, which made them hard to recommend over the Bose QC Ultra or Sony’s XM series headphones unless you were an Apple die-hard. The AirPods Max 2 , however, have been out for just over a month, and we’re already seeing a $40 discount at Amazon and Best Buy , bringing the price down to $509 across all fi...
In terms of pricing, the original AirPods Max remained stubbornly high even years after their debut, which made them hard to recommend over the Bose QC Ultra or Sony’s XM series headphones unless you were an Apple die-hard. The AirPods Max 2 , however, have been out for just over a month, and we’re already seeing a $40 discount at Amazon and Best Buy , bringing the price down to $509 across all five colors. AirPods Max 2 Where to Buy: $549 $509 at Amazon $549 $509 at Best Buy $549 $509.99 at Target Unlike the refreshed AirPods Max Apple put out in 2024, the Max 2 are a true sequel. The company’s latest pair of over-ear headphones still feature the same 40-millimeter drivers as the original, but they’re now paired with a new high dynamic range amplifier, allowing for better bass response and terrific sound across the board. They also support lossless audio at 24-bit / 48kHz via USB-C and, construction-wise, continue to sport the same combo of aluminum, stainless steel, and knit mesh fabric. They’re still heavy at 385 grams, but they feel premium, which isn’t always the case, even with high-end headphones. I’d argue the real upgrade to the AirPods Max 2, though, comes in the form of Apple’s H2 chip. It’s older, having made its debut in the second-gen AirPods Pro in 2022, but it adds a lot of functionality that wasn’t available on the first-gen Max. The latest Max 2 support adaptive audio, conversation awareness, personalized volume, voice isolation, and live translation, along with automatic device switching, spatial audio, and all the ecosystem tricks you’ve come to expect with owning a pair of Apple headphones. Plus, their active noise cancellation is a step up from that of the last-gen model, ensuring you can always drown out the outside world while listening to your favorite tracks. Read our full AirPods Max review . More deals and discounts of note Logitech’s latest magic mousepad, the Powerplay 2 , is currently on sale at Amazon , Best Buy , and B&H Photo for $8...