JHVEPhoto Shopify ( SHOP ) was added as a new long idea at Hedgeye. "Shopify is structurally advantaged as commerce shifts from “click-based” to “agent-executed," Hedgeye analyst Andrew Freedman wrote in a note on Monday. "In an agentic commerce world, discovery, comparison, and checkout are abstracted away from the consumer interface and handled by AI agents. SHOP effectively becomes default commerce infrastructure for agents, not just a storefront provider." "In a world where agents choose what to buy and where to buy it, the key bottleneck becomes trusted identity, payment credentials, and conversion optimization," Freedman added. "Shop Pay is already one of the highest-converting checkout rails on the internet." Freedman added that " Agent-driven commerce replaces clicks and impressions with conversion-based economics (e.g., cost-per-outcome, agent-mediated take rates). This structurally benefits Shopify, which sits closest to the transaction." Shares of Shopify ( SHOP ) plunged 15% on Tuesday after reporting Q1 results , given Q2 outlook. More on Shopify Inc Shopify Inc. (SHOP) Q1 2026 Earnings Call Transcript Shopify Preview: Expensive, But Not Overhyped Ahead Of Q1 Shopify's Next Leg Isn't Valuation - It's AI-Driven Commerce (Double Rating Upgrade) Shopify expects Q2 revenue growth in the high 20s, as AI channels drive nearly 13x order growth Shopify tops $100B in GMV in Q1, points to its AI edge

格隆汇5月6日｜苹果(AAPL.O)：将在今年秋季发布的iOS 27中提供更灵活的人工智能方案。

伊朗外交部发言人巴加埃5日在社交媒体平台X发文说，X平台继取消伊朗外交部及外交部长在该平台账号的认证标识后，现在又移除伊朗外交部发言人账号的认证标识。巴加埃指出，伊方已足额缴纳相关服务费用，而X平台随意取消认证的做法体现出其选择性审查以及“美式数字霸权”，意在限制有关美国对伊朗军事行动“真相”的信息传播。（新华社）

Micron Technology and Intel stocks are up more than 100% each in just the first four months of this year. Can this momentum continue?

Trump Admin Working To Ease Memory Chip Crunch And Soaring Prices With Supply Chain Coalition In a world where high commodity prices are the cure for high commodity prices, it was only a matter of time before we saw a surge in oil output in response to near-record oil prices, as Diamondback did ovenright . The same logic applies to memory chips, another commodity, whose prices have exploded in recent months due to soaring demand by data centers. And while markets expect prices to drop once more supply comes on line, the proposed timline - which spans well into 2027 - is unacceptable, meanwhile the raging memory prices are translating into higher prices for virtually all electronics at a time when inflation is already set to explode higher. Which is why the US is working to address the global memory chip shortage through a supply chain coalition with allies in Asia, Europe and the Middle East, Nikkei Asia reported citing a US official. The State Department unveiled the Pax Silica initiative in December, a coalition with allies to secure supply chains involving semiconductors, artificial intelligence and critical minerals while reducing dependence on China. Fourteen countries including India, Japan, South Korea, Singapore and the Philippines have joined the coalition, with Norway set to do so this week, Jacob Helberg, undersecretary of state for economic affairs, told Nikkei Asia on the sidelines of the 2026 Milken Institute Global Conference. Jacob Helberg, U.S. undersecretary of state for economic affairs, speaks at the 2026 Milken Institute Global Conference in Los Angeles on May 5. The global memory chip supply shortage continues to worsen as the industry struggles to keep pace with skyrocketing demand boosted by artificial intelligence, weighing on tech companies big and small from AI chipmakers to Apple. The Trump administration is looking to address the memory chip crunch by leveraging the supply chain coalition, particularly with Asian allies such as South Kor...

Micron and Intel Shares Push Highs Again: What is Fueling the Rally? Yahoo Finance

Micron and Intel Shares Push Highs Again: What is Fueling the Rally? TradingView

格隆汇5月6日｜OpenAI周二表示，已更新ChatGPT默认模型，使其响应更准确、更个性化，并减少不必要的表情符号使用。GPT-5.5Instant正在向所有ChatGPT用户及API推出，增强个性化功能初期仅供网页端Plus和Pro用户使用。新模型将更多利用用户上下文信息，包括过往聊天、上传的文件以及连接的Gmail。OpenAI同时增加了“记忆来源”控制功能，向用户展示ChatGPT用于个性化回答的部分上下文信息，用户可删除或更正过时记忆，并使用不调用或更新记忆的临时聊天。

格隆汇5月6日｜苹果(AAPL.O)：计划让用户在iOS 27系统中自行选择使用竞争对手的人工智能模型。

Analyst warns of a peak in Micron stock: find out more Invezz

The Direxion Daily Semiconductor Bull 3X Shares (NYSEARCA:SOXL) made a 160%-plus move in thirty days, and the fund added another 15% today to trade near $146. Returns like that show up when the most volatile sleeve of the market reverses sharply and a triple-leveraged ETF amplifies the bounce. The reason for the rip is simpler ... Up 160% in One Month, This AI ETF Can Still 5X

CoreWeave (NASDAQ: CRWV) reports first-quarter results Thursday after the close. Critics have called the AI cloud provider’s foundation circular financing on shifting sand. A month-long run of contract wins has started to flip that script. Critics Said It Was Built on Sand CoreWeave borrows heavily, buys NVIDIA (NASDAQ:NVDA) GPUs, and rents them to a concentrated ... Here’s Where CoreWeave Proves the Doubters Wrong Once and For All

Few stocks have captured the Artificial Intelligence (AI) moment quite like Advanced Micro Devices. Advanced Micro Devices, Inc. (AMD) has climbed 59% year to date, and the one year return stands at 245%, according to Yahoo Finance. Those numbers reflect a market that has decided AMD is no longer a ...

格隆汇5月6日｜五位熟悉讨论情况的消息人士称，七国集团正在商讨创建一个常设秘书处，以确保旨在增加关键矿产供应的各项举措能够超越集团轮值主席国的任期而持续存在。两位熟悉讨论情况的消息人士表示，欧洲拒绝了建立单一共享储备的想法，而是倾向于各国控制自己的储备。同时，欧洲国家政府也不希望美国领导该项目，因为它们担心在危机时期获取关键矿产的渠道可能受到限制。自今年年初以来，欧盟一直在致力于自己的试点储备项目，由意大利、法国和德国牵头。消息人士透露，该秘书处可能设在国际能源署（IEA）或经合组织（OECD）。这两个组织均设在巴黎。目前尚不清楚该秘书处何时能成立，但其可能有助于执行6月七国集团领导人会议上就关键原材料作出的决定，其中可能包括储备措施。

Robinhood CEO Vlad Tenev discusses growth of the company’s prediction markets and the firm’s involvement in Trump Accounts for children. (Source: Bloomberg)

Earnings Call Insights: Fiserv (FISV) Q1 2026 Management View CEO Michael Lyons said Q1 results were “in line with the expectations we shared with you in February,” adding the company is “confident in our strategy” and is executing the “One Fiserv Action Plan.” Lyons highlighted leadership additions, including “new heads of operations for both Merchant Solutions and Financial Solutions, new Chief Revenue Officers for Clover and Enterprise Merchant and a new Head of Product for Financial Solutions.” Lyons said Clover value-added services continued to scale, noting “Clover VAS revenue represented 27% of Clover revenue in Q1, growing 18% from a year ago,” while “CommerceHub transaction growth… was up nearly 200% in Q1.” Lyons cited Financial Solutions progress but ongoing pressure, saying “core bank account and revenue attrition remain above our long-term trend,” while “we’ve seen early signs that our client service initiatives have been well received,” and reiterated “positive client feedback on our decision to continue supporting all of our cores.” CFO Paul Todd said, “total company Q1 adjusted revenue was $4.68 billion, a decrease of 2.4% compared to the prior year period,” with “adjusted operating margin of 29.7%,” and “adjusted earnings per share was $1.79.” Outlook Todd reiterated full-year expectations: “we continue to expect 2026 organic revenue growth in the range of 1% to 3%,” with “Merchant Solutions revenue growth in the mid-single digits and Financial Solutions flat to slightly down,” and said this “continues to assume a stable macro environment.” Todd maintained profitability and EPS targets: “adjusted EPS of $8 to $8.30,” and “adjusted operating margin of approximately 34% for the year,” with “first half adjusted operating margin of approximately 31% to 32%” and “second half… 35% to 36%.” Versus Q4 2025, guidance language was reiterated as “consistent with our prior guidance,” including the prior framework that “Q2 [is] the trough” and Financial Solution...

Earnings Call Insights: BRC Inc. (BRCC) Q1 2026 Management view CEO Chris Mondzelewski said, "2026 is off to a strong start with first quarter performance reflecting meaningful progress against our core growth priorities," and pointed to retail execution where "distribution gains across key retail partners are translating into higher volume, better shelf productivity and improved SKU level performance." Mondzelewski emphasized the shelf-space strategy: "Execution against our land and expand strategy continues to translate into gains in retail breadth and shelf presence," adding that the company expanded "distribution by approximately 7 points of ACV year-over-year" and that "the average grocer is now carrying nearly two more Black Rifle items than a year ago." On category share, Mondzelewski said, "According to Nielsen, Black Rifle Coffee grew 34.6% in the quarter," and added, "Bagged coffee dollar share increased 55 basis points to 3.3% and pods increased 45 basis points to 2.2% at the end of the quarter." CFO Matthew Amigh said, "In the first quarter, net revenue increased 21% year-over-year," and attributed the increase to wholesale and direct-to-consumer, including "Wholesale revenue increased 31.5% year-over-year" and "Direct-to-consumer revenue increased 7% in the first quarter." Amigh detailed margin and cost actions: "First quarter gross margin was 33%, down 305 basis points year-over-year," citing "elevated coffee costs" and "nonrecurring items," including "roughly 100 basis points of costs associated with onboarding a new direct-to-consumer fulfillment provider" and "approximately 210 basis points from a onetime noncash write-down tied to coffee extract resulting from a formulation change." Outlook The company raised full-year targets as Amigh said, "For 2026, we are increasing our revenue outlook to at least 8% growth or approximately $430 million," and "increasing our adjusted EBITDA guidance to at least 35% growth or approximately $29 million, up from o...

Earnings Call Insights: OPENLANE, Inc. (OPLN) Q1 2026 Management View “During the first quarter, we continued to build on OPENLANE's positive momentum, growing consolidated revenue by 15% and delivering adjusted EBITDA of $97 million, a 17% increase. We also generated $160 million in cash flow from operations.” (CEO & Director Peter Kelly) “In the Marketplace segment, we grew overall vehicles sold by 19%, increased gross merchandise value by 32% to $9.1 billion and delivered $52 million in adjusted EBITDA, representing a 39% increase.” (CEO & Director Kelly) “In the United States, OPENLANE dealer-to-dealer transactions continue to accelerate with growth in the upper 20% range. This represents a significant outperformance of the industry and a meaningful gain in market share.” (CEO & Director Kelly) “On the commercial vehicle side, the 25% increase in vehicles sold was driven in large part by the onboarding of our latest private label customer.” (CEO & Director Kelly) “We extended our technology advantage in the first quarter with our public release of OPENLANE Intelligence.” (CEO & Director Kelly) “We are very proud to report a record quarter for OPENLANE. For the quarter, we transacted more GMV, sold more vehicles, generated more revenue and produced more adjusted EBITDA than any quarter in our company's history as a digital marketplace.” (Executive VP & CFO Bradley Herring) Outlook “We are raising our full year expectations for adjusted EBITDA from a range of $350 million to $370 million to a range of $365 million to $385 million.” (Executive VP & CFO Herring) “The entire increase is coming from our Marketplace segment... [and] reflects the full year impact of the repeal of the Canadian DST.” (Executive VP & CFO Herring) “With respect to our Finance segment, we maintain our previous guided position as the volatility and macro trends are largely offsetting the decreased likelihood of any rate cuts in 2026.” (Executive VP & CFO Herring) Compared with the prior quart...

Medifast ( MED ) shares surged nearly 18% on Tuesday, jumping from yesterday's close of $10.63 to around $12.63 after the company reported its Q1 2026 earnings results. The stock also sharply outperformed the broader S&P 500 ( SP500 ) with a 15.13% gain on the one-day chart. On a YTD basis, Medifast is now up 18.26%. The rally came even as the company reported weaker YoY financial results, as investors focused on its cost-cutting efforts, strong balance sheet, and long-term transformation strategy. Q1 revenue fell 34.3% to $76M, mainly due to a sharp decline in active earning coaches, which dropped 44.9% to 14,000. The company said client acquisition remains pressured by the rapid adoption of GLP-1 weight-loss drugs. However, average revenue per active coach rose 19.2% to $5,432, showing stronger productivity from its remaining coach base. Gross profit declined 38.6% to $51.8M, while SG&A expenses fell 35.6% as the company reduced costs. Moreover, net loss also widened to $2.1M, or $0.19 per share. Despite the slowdown, the company ended the quarter with $168.9M in cash and no debt. Management also said the company has meaningfully realigned its cost structure to current market conditions and expects to generate over $30M in future savings. It also plans to launch a new metabolic health system in July, which could fuel the price rally further. For now, both SA quant ratings and Wall Street analysts continue to maintain a “hold” view on the stock despite a sharp post-earnings rally. More on Medifast Medifast, Inc. 2026 Q1 - Results - Earnings Call Presentation Medifast, Inc. (MED) Q1 2026 Earnings Call Transcript Medifast, Inc. (MED) Q4 2025 Earnings Call Transcript Medifast reconfirms $270M-$300M 2026 revenue outlook as it targets profitability improvements starting in Q4 2026 Medifast GAAP EPS of -$0.19 beats by $0.33, revenue of $76M beats by $6.8M

Earnings Call Insights: Otter Tail Corporation (OTTR) Q1 2026 Management View "We are pleased with our first quarter financial results and are well positioned to achieve our financial objectives for the year." (CEO & Director Chuck MacFarlane) "We completed our $230 million wind repowering project earlier this year... These upgrades are expected to result in a 20% increase in output." (CEO & Director MacFarlane) "We removed the 430-megawatt load previously under a term sheet from our pipeline... we will only adjust our internal forecast for loads that have a signed electric service agreement." (CEO & Director MacFarlane) "We produced diluted earnings per share of $1.73 in the first quarter... We are maintaining our 2026 diluted earnings per share guidance range of $5.22 to $5.62." (CEO & Director MacFarlane) "We generated diluted earnings per share of $1.73, a 7% increase compared to the same time last year." (VP & Chief Financial Officer Tyler Nelson) "We continue to be in a position of financial strength with a balance sheet capable of funding our rate base growth plan without any external equity needs through at least 2030." (VP & Chief Financial Officer Nelson) Outlook "We are affirming our annual diluted earnings per share guidance range of $5.22 to $5.62, which is expected to produce a return on equity of approximately 12%." (VP & Chief Financial Officer Nelson) "We continue to be in a position of financial strength... without any external equity needs through at least 2030." (VP & Chief Financial Officer Nelson) "In our Electric segment, we have a planned major outage at a coal facility beginning in the second quarter and expect higher O&M spend midyear related to asset health and resiliency initiatives." (VP & Chief Financial Officer Nelson) "In our Manufacturing segment, we are optimistic about increased sales volumes in the first quarter, but demand visibility becomes less certain in the second half of the year." (VP & Chief Financial Officer Nelson) "In o...

New agreements between the companies and the Commerce department build on Biden-era pacts.

The 10-year Treasury sits at almost 4.4%, the Fed funds upper bound is parked just under 4%, and the 2-to-10 spread has compressed back to about half a point. If you stretched for yield by buying 20-year paper in 2022, you are still nursing the bruise. If you stayed in cash, you watched real purchasing ... Want Income Without Betting The Farm On Interest Rates? Read This

Ireland probes Meta's Instagram, Facebook over EU manipulation concerns Reuters

Unicaja Banco, S.A. ( UNJCF ): Q1 net interest income reached €373M, increasing by 1.3% Y/Y. Source: company website More on Unicaja Banco, S.A. Unicaja Banco, S.A. (UNJCF) Q1 2026 Earnings Call Transcript Unicaja Banco, S.A. 2026 Q1 - Results - Earnings Call Presentation Historical earnings data for Unicaja Banco, S.A. Dividend scorecard for Unicaja Banco, S.A. Financial information for Unicaja Banco, S.A.

Source: Bloomberg, 9:48

If you opened your brokerage statement this year and noticed your portfolio looked suspiciously like the S&P 500 with a few extra tech names sprinkled in, you are not alone. American investors have spent the last decade being rewarded for ignoring everything outside their own borders, and the muscle memory is hard to break. Vanguard ... If Your Portfolio Is Too American, VXUS Is The Simple Fix

英国长期国债收益率升至28年高位，因市场对于地方政府选举以及能源价格飙升对经济影响的担忧加剧。 英国30年期国债收益率一度跃升13个基点，至5.78%，为1998年以来的最高水平。抛售潮席卷了各个期限的债券，10年期收益率突破5.10%。 尽管全球债券投资者都在对通胀加快、利率可能更高表达不满，但英国是其中最极端的例子。英国混乱的政治局势、支持率不佳的首相基尔·斯塔默可能面临领导权挑战、疲弱的经济以及紧张的政府财政，共同使其成为寻找“薄弱环节”的交易员关注的对象。 Miton Group固定收益主管Lloyd Harris表示：“市场一方面在关注斯塔默执政可能时日无多；即便未必很快下台，为了遏制绿党支持率上升，英国政治也势必会进一步左倾。” 自中东战争爆发以来，英国10年期国债收益率已上涨70个基点，在彭博追踪的发达市场债券中涨幅居首。意大利10年期国债收益率上涨了约50个基点。 随着本周地方选举临近，市场担心工党将在投票中遭遇重大失利。在投资者看来，这意味着无论是斯塔默还是其继任者，都可能不得不增加政府支出，以赢回失望的选民，这将进一步加重英国的财政压力。 除此之外，英国对进口能源的依赖，也使其更容易受到伊朗战争引发的经济冲击影响。随着油价维持在每桶100美元上方，市场担心通胀加快将迫使英国央行进一步加息。市场目前已计入英国央行今年将加息三次、每次25个基点，高于上周预期的两次。 责任编辑：丁文武

英国市场在公共假期后重新开市，英国国债大跌，追随周一全球债券市场的跌势，推动长期国债收益率升至1998年以来最高水平。 30年期国债收益率一度上升13个基点至5.78%，为1998年以来最高，随后涨幅有所收窄；10年期收益率也重新升至5%以上。 美国长期收益率同样处于高位，30年期收益率在周一于今年以来首次突破关键的5%水平后，目前徘徊在该水平附近。 交易员上调了对英国央行今年加息的预期，利率互换显示年底前将累计加息约70个基点，其中6月会议已计入15个基点。 欧元区债券上涨，主要由短端领涨，此前布伦特原油价格在周一剧烈波动后回落至约111美元。 市场： 德国债券收益率下降2个基点，至3.06%； 意大利10年期国债收益率跌8个基点，至3.86%； 意大利与德国国债利差收窄6个基点，至80个基点； 法国10年期国债收益率下降5个基点，至3.71%； 10年期英国国债收益率上涨10个基点，至5.06%。 责任编辑：丁文武

Source: Bloomberg, 5:05

Every dollar of AI capex eventually has to plug into a wall. By the time hyperscalers have signed off on GPU orders, the binding constraint stops being silicon and starts being substations, transformers, and turbines. That is the wager behind Tema Electrification ETF (NASDAQ:VOLT), a thematic fund that ignores AI software entirely and goes straight ... The Real AI Trade May Not Be Software. It May Be Power Equipment