AMD to invest over $10B in Taiwan to scale AI chip infrastructure Anadolu Ajansı

國家海關總署發布文件推出20項具體措施，以加快建設粵港澳大灣區。 海關總署在廣州舉行新聞發布會，就近日出台的《海關支持粵港澳大灣區建設若干措施》進行解讀，提出20項措施推動粵港澳大灣區建設，其中，規則銜接機制對接，是促進大灣區深度融合發展的重要支撐。 在標準對接方面，《若干措施》提出對「港車北上」和「澳車北上」、「粵車南下」，實施「一站式」監管，暢通粵港澳三地跨境通行，以及促進跨境食品運輸等。 海關總署綜合司司長林少濱說：「為保障港澳短保質期食品，如糕點麵包等高效通關，《若干措施》提出探索創新，對白名單企業及產品實施精準管理，降低口岸查檢頻次，提高通關效率。粵港澳三地要研究制定來往港澳小型船舶，衞生監督統一規則及標準，提升小型船舶衞生監督效能。」 文件又提到，依託香港國際機場與港珠澳大橋空橋聯動，與「東莞-香港國際空港中心」空海聯動物流網絡，便利相關鮮活農食產品輸入內地，同時，聯合港澳研究編制，並發布大灣區對外貨物貿易統計數據，推進與港澳互認合作。 另外，又會助力科創主體加速發展，推進河套區「一區兩園」協同發展，持續優化進出區人員，科研貨物監管模式，便利科創要素，便捷高效流動。 深圳海關副關長潘楚雄稱：「對進口研發測試用，但未註冊備案的醫療器械及零部件，海關將在核實用途後，免於驗核相關備案註冊證，針對已免稅進口的科研用品，如相關主體因科研需要確需頻繁更換使用地點的，海關允許每季度集中報告變更情況。」 措施又提到，將推廣跨境電商出口「先查驗、後裝運」模式，有望降低物流成本約三成。

格隆汇5月21日｜深南电路在特定对象调研时表示，近期公司综合产能利用率处于高位，其中公司PCB业务受益于AI算力基础设施硬件相关产品需求的增长，工厂产能利用率维持高位；封装基板业务因存储类、处理器芯片类基板需求拉动，工厂产能利用率延续2025年四季度以来的较高水平。泰国工厂与南通四期项目于2025年下半年顺利连线投产，目前产能正稳步爬坡。因为该项目仍处于爬坡早期阶段，在产能爬坡过程中，前期投入形成的资产或费用已开始折旧、摊销，但因产量有限，单位产品分摊的固定成本较高，会对公司利润产生一定影响。

内容速览 知名晨间电台节目《早餐俱乐部》自 6 月 1 日起登陆网飞工作日实时直播，这也是该流媒体平台 首档每日常态化直播节目 。 由查拉曼涅・塔・戈德联合主持、极具影响力的王牌晨间电台节目《早餐俱乐部》，正式敲定入驻网飞开启直播，成为平台首个日播直播栏目。 该节目以明星专访、主持人直白点评社会文化与时事热点著称。网飞与音频巨头爱听传媒于周四联合宣布，节目将于工作日进行 全程实时同步播出 。 自 6 月 1 日起，网飞将每日上线约三小时直播内容，节目原版播出地为纽约嘻哈与节奏布鲁斯主流电台 Power 105.1 调频。原版电台插播广告时段，网飞平台将独家放送节目幕后花絮、深度加长访谈及各类专属衍生内容。 近几年来，网飞持续发力布局直播业务，意图依靠多元化内容矩阵拉动会员订阅量增长。 此前平台直播布局大多聚焦体育赛事，涵盖圣诞档全美橄榄球赛事、拳击、综合格斗以及世界摔角娱乐《周一 RAW》等；同时也推出过直播喜剧专场、吐槽大会，以及喜剧演员约翰・穆拉尼深夜直播脱口秀等内容。 今年 1 月网飞正式入局视频播客赛道，陆续引进声破天、爱听传媒旗下节目，而《早餐俱乐部》从一开始就表现格外亮眼。 按照此前合作协议，网飞此前仅上线该电台节目精简剪辑版一小时的视频播客。市场数据机构桑巴电视统计，今年一季度《早餐俱乐部》播放量占到网飞全站播客内容总播放量的 四成以上 。 借助网飞渠道加持，该播客节目热度大幅攀升，一季度在爱迪生美国播客榜单升至第 11 名，创下历史最高排名，较上一季度第 15 名、去年同期第 24 名实现大幅跃升。 主持人查拉曼涅表示，此次登陆网飞开设每日直播，是顺应行业趋势的战略选择。当下充斥着 AI 合成内容与网络不实信息，人际真实交流愈发稀缺，他将这种现状称作 **“深度疏离时代”**，而大众正愈发渴求真实无剧本的情感与思想交流。 他谈到：“如今很多年轻人早已分不清何为真实内容。人们接下来会越发向往接地气、有温度的现实交流。” 《早餐俱乐部》2010 年开播，固定于纽约早间 6 点播出。查拉曼涅搭档 DJ 恩维、杰丝・希拉莉，节目风格随性洒脱，畅聊各类流行文化，还曾专访史努比狗狗、奥巴马、哈里斯等一众艺人与政界名人，话题屡屡引爆舆论。 此次合作也进一步打破播客行业边界，音频内容加速向视频化转型。爱听传媒首席执行官鲍勃・皮特曼称，此次合作实现双赢。 他表示：“观...

当前，中国资产正在受到海外资金的密切关注。据Wind数据，截至今年一季度末，QFII的持仓总市值超过2200亿元，较2025年末增长近20%。 5月20日，摩根大通中国股票策略师张晓宁向时代周报记者表示，从配置比例来看，过去两年海外投资者、尤其是区域型基金已经大幅削减了对中国的低配。在宏观经济韧性凸显与流动性“内外双强”的推动下，外资正加速回流中国股市，年初至今海外资金净流入规模已远超过去三四年，且配置偏好正从传统互联网消费龙头向先进制造、人工智能等高质量成长方向扩散。 “综合国内的资金流情况跟海外的资金流情况来说，我们认为，中国股票市场的流动性是比较充裕的，这样充裕的流动性也为市场上行提供了坚实的支持。”张晓宁称。 01 外资低配大幅收窄，资金流入显著提速 据Wind数据，截至今年一季度末，QFII共现身1522家A股上市公司的前十大流通股股东名单中，合计持股数量达到138.58亿股，较2025年末增加29.48亿股，增幅27.02%；持股总市值达到2212.01亿元，较2025年末增长19.79%。 分机构看，摩根大通证券有限公司、高盛、瑞士联合银行集团成为一季度新进个股数量排名前三的外资机构，截至一季度末，三家机构分别持有证券数量364只、525只、526只，较2025年末分别增加173只、169只、137只，持股总市值分别为88.52亿元、139.39亿元、259.77亿元。 “从配置比例来看，过去两年海外投资者，尤其是区域型基金已经大幅削减了对中国的低配。”张晓宁表示。数据显示，亚洲（除日本外）主动基金对中国的低配已从2024年2月底的-8.3%缩窄至最新的-1%；新兴市场主动基金的低配从2024年1月的约-4.5%缩至-2%；全球型基金则在今年前两个月出现明显回升，低配幅度从-2%收窄至-1.7%左右。考虑到全球型基金的管理规模约为区域型基金的五倍，其带来的资金增量十分可观。 张晓宁援引全球资金流向监测机构（EPFR）的数据称，截至5月15日，海外上市公募基金年内已录得131亿美元的净流入，显著高于往年同期水平。她强调，这一趋势背后既有全球流动性环境的助力，更是中国自身宏观经济韧性受到认可的体现。 张晓宁进一步分析，外资加大对中国净流入背后有两方面因素：一是年初以来美元整体偏弱，带动包括中国在内的新兴市场收获较强的资金净流入；二是自2月底中东局势趋于不稳...

阿莱德公告，公司近日与优势金控（上海）资产管理有限公司签署合伙协议，拟作为有限合伙人，以自有资金人民币1000万元投资优势金控作为基金管理人的专项基金——温州优势共赢贰号股权投资合伙企业（有限合伙）。该基金目标规模为不超过人民币2亿元，截至公告日已认缴出资金额2亿元，其中公司拟认缴出资1000万元，占比5%。基金存续期限为5年，投资方向为直接或间接股权投资。

The direction for US stocks on Thursday was constantly shifting ahead of the opening bell, as overnight optimism over US-Iran negotiations and another blockbuster quarter for Nvidia were not enough to set a clear path. Futures pointed down in the early hours, turned green and then back to...

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光华科技公告，公司发布2026年限制性股票激励计划（草案），拟向激励对象授予450万股限制性股票，占公司总股本0.97%，其中首次授予360万股，预留90万股。首次授予激励对象共53人，包括董事、高级管理人员及核心员工，授予价格为12.07元/股。业绩考核目标为：2026年净利润达1.5亿元，2027年达1.8亿元，2028年达2.16亿元。本计划需经股东会审议通过后实施。

Boosted by accelerating first-quarter earnings and sales, Amazon stock has bounced back into buy range while flashing telltale clues.

GOP races to fund immigration enforcement. And, U.S. indicts former Cuban president Good morning. You're reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day. Today's top stories Republicans in Congress are racing to approve $72 billion in funding for Immigration and Customs Enforcement and Customs and Border Patrol through the rest of President Trump's term. The GOP is using a tool known as budget reconciliation to bypass Democrats who oppose more agency funding without reforms that limit officers' tactics. Trump is unhappy with the package because it doesn't include funding for the White House ballroom. Several Republicans, including Louisiana Sen. Bill Cassidy, said they would oppose the budget if it included ballroom funding. Cassidy just lost his primary after the president backed another candidate. The senator remains a voting member of Congress until January. toggle caption Heather Diehl/Getty Images 🎧 Congressmembers like Cassidy have the opportunity to disrupt the status quo on their way out of their positions, NPR's Sam Gringlas tells Up First. Other members who aim to stay in office are less likely to defy the president. So far, Cassidy has opposed the ballroom funding and cast the crucial vote to advance the Iran war powers resolution, despite having opposed it in the past. Sen. Lisa Murkowski of Alaska, a Republican known for frequently breaking with Trump, pointed out that the president may have forgotten that he needs Congress to advance his agenda. She added that Trump's attacks on incumbent Republicans could backfire and harm the party's chances in November. on their way out of their positions, NPR's Sam Gringlas tells Up First. Other members who aim to stay in office are less likely to defy the president. So far, Cassidy has opposed the ballroom funding and cast the crucial vote to advance the Iran war powers resolution, despite having oppos...

Tim Robberts/DigitalVision via Getty Images I rate Monolithic Power Systems ( MPWR ) stock a Hold/Avoid. Monolithic Power has a single-seller-like edge in AI thermodynamics through its Z-Axis Power Delivery [ZPD] and 40/45nm BCD node shrink that is driving hyper-growth in both the Enterprise Data and Comms (optical module) segments. However, the stock's hyper-premium valuation (61x forward P/E) prices-in software-like margin expansion. The reasoning for a Hold is that Monolithic’s shift to integrated Intelli-Phase power modules can cap gross margins in the mid-50s due to the low-margin physics of raw substrate and copper packaging. More so, about major risks to this thesis, there is an upside risk of physical AI (robotics) adoption accelerating faster than expected that is offsetting margin drags. Whereas the downside risk is of large multiple compression as Wall Street sentiment loses to flatlining gross margins, possible CSP second-sourcing in 48V architectures, and Monolithic's blind spots in rack-level 800V SiC/GaN power distribution. What business does Monolithic Power Systems do? Monolithic is not a power-chip provider, first of all, it is fastly becoming a sub-system module provider targeting physical bottlenecks that semiconductor giants [like Nvidia ( NVDA ), AMD ( AMD ), and Broadcom ( AVGO )] do not solve themselves. What Can Take Monolithic Power Systems' Stock Price Higher? I am not focusing on what is already known, that Monolithic Power Systems is a main derivative play on AI accelerators, as it is already trading ($1,468.11, at the time of writing) at a hyper-premium 61.12x forward non-GAAP P/E. In my opinion, MPWR stock’s momentum points out that Wall Street has already priced-in the Q1-FY2026 Enterprise Data revenue surge of +97.7% Y/Y and the raised 2026 segment growth floor from 50% to 85%. To assess the possibility of forward alpha at a $72.13 billion mCap, I am leaving surface-level TAM extrapolations in trash and focusing on Monolithic’s base ...

The ‘Anti-Weaponization Fund’ is an extraordinary example of bald self-dealing Donald Trump is stealing almost $2bn in taxpayer money and handing it out to his friends. That’s the upshot of the president’s recent agreement following a $10bn lawsuit he brought in his personal capacity against the IRS, an agency that he oversees. Trump brought the suit over leaks of some documents from his tax returns to the press. To resolve the suit, the justice department will create a fund of nearly $1.8bn – a wildly outsized figure compared with Trump’s somewhat flimsily alleged injuries – that can be doled out to Trump allies. The Guardian describes the fund as “loosely controlled and secretive”, but members of the Trump administration have not ruled out January 6 i nsurrectionists as possible awardees. The so-called “Anti-Weaponization Fund” will be administered by four commissioners appointed by Trump’s attorney general and one appointed “in consultation” with congressional leadership – Trump, who can fire the commissioners, will have ultimate control. It will have the authority to issue formal apologies for alleged mistreatment of conservative political actors by previous administrations – ie, those few who were prosecuted or sued during the Biden era. When Trump leaves office, any remaining money will not be available for his successor to use similarly, but will instead be distributed back to the federal government. But I doubt that there will be any remaining money. We may never know either way: there is no requirement that the fund’s work be made public, and required reports to the attorney general on its conduct are to be confidential. In addition to the creation of this massive slush fund, the agreement also requires that the IRS drop all audits of Trump and his family. Moira Donegan is a Guardian US columnist Continue reading...

A Mancunian singer-songwriter becomes a viral divisive figure while trying to track down a girl called Emily Last week came the news that gen Z are big fans of going to the cinema. Now here’s a gen Z romcom from Working Title, the company behind Bridget Jones’s Diary and Notting Hill. Directed by Alicia MacDonald from a script by Rachel Hirons, Finding Emily shares DNA with Richard Curtis’s comedies – the same warm heart and charm, plus levels of cheesiness that some may find cringe. In the end I found it impossible to hate, though one or two performances felt a bit lacking in comic flair. It’s set in Manchester, where indie singer-songwriter Owen (Spike Fearn) meets undergraduate Emily (Sadie Soverall) at the student union. They click, but when Emily taps her number into his phone, she misses out a digit. Is it a drunken error, or has she wrong-numbered him? Owen is convinced it’s a mistake and sticks up posters around campus to find her. After a tipoff, he waits outside a lecture hall for psychology student Emily (Angourie Rice). She’s American, and not his Emily, but she offers to help, suggesting Owen emails every Emily enrolled at the university – all 318 of them. Owen accidentally sends the email to all rather than BCCing, creating an email group of Emilies who are divided in their reactions. Is he some kind of creepy virgin “incel”? Or a diehard romantic? Owen becomes a meme: “email guy”. Continue reading...

My wine consultant friend, Ruth Osborne, often wears a cap embroidered with the words “chenin blanc”. As someone who is proud to include hats from Toad bakery and Celine Dion’s 2017 UK tour in her collection, I know all about headwear as a signifier of personal brand, and Ruth isn’t the only person in the business to extol the virtues of chenin. But why? The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. Chenin blanc shape-shifts with soil and climate perhaps more than any other grape, and it is this chameleon quality that sets wine enthusiasts aflutter, as does the fact that it’s a late-ripening variety with good acidity, so lends itself to a whole spectrum of profiles, from dry to sweet. Versatile, aesthetically ambiguous and, as my friend’s hat testifies, cultish in its appeal, it is the Tilda Swinton of grapes. With up to 35,000 hectares of the stuff planted worldwide, it is a global grape, too. But, unlike the leading players such as chardonnay and cabernet sauvignon, chenin is associated with very defined areas. In South Africa, which grows more than half the world’s crop, it runs the gamut from mass-produced and affordable to premium and terroir-driven. France, meanwhile, has about a third of the world’s chenin vines, over 90% of them in the Loire valley; there are also small parcels in the US, Australia and South America, though you might struggle to find much in common between them beyond being broadly definable as “white wine”. Take the Loire, where the appellations of Vouvray and Savennières sit just 80 miles apart, but produce chenins that are chalk and cheese (or, rather, chalk and schist – the rocks that characterise their respective soil types and, in turn, the flavours of the wines they produce). Savennières is associated with bone-dry, mineral and grapefruit-y wines, and Vouvray more for its richer, pear-ish notes – and for wines that vary dramatically in sweetness, which r...

RHJ/iStock via Getty Images On June 30, the silver zero-cost collar that Endeavour Silver ( EXK ) signed in June 2025 expires, as one of the conditions to amend the Terronera Debt Facility, a mine that today produces with an AISC of approximately $22/oz and contributes $84M of quarterly revenue, and which since then has been influencing the company’s silver realization at $42/oz. We are talking about 387,096 oz that during this Q2 will still be settled within a corridor of around $31-$42, and despite the recent correction, silver still remains in a range above $70. This basically means that Endeavour is giving up around $32 per covered ounce below the market, that is, money collected by the counterparty and that comes out of the company’s quarterly cash flow. For me, the operation makes sense, and with the collar now expired, the company mechanically frees up a remainder that needs to be seen to determine whether it is already priced in and could be a potential undiscounted catalyst. For now, the price seems to have taken a break from the rally that began in April of last year, and at the time of writing, with approximately $9.01 per share, it maintains an EV close to $2.8B together with an FWD EV/EBITDA of 6.5x. Data by YCharts This is interesting, as it is behind other comparables such as First Majestic ( AG ), which trades at around 9x, or Pan American ( PAAS ) at around 7.7x, if we take into account that EXK reported one of the best quarters in its history this past May 6. And by this I mean sales of $209.7M, representing an increase of +230% YoY, mine operating earnings of $93.5M, adjusted EBITDA of $108M, and cash rising to $231.8M after the sale of Bolañitos this past January. I do not think there is a clear asymmetry, especially after the macro context we are living through, where the increase in T-Bill yields, in my view, is one of the pieces driving a rotation away from commodities, together with the recent UBS report where they place the silver price for ...

安控科技公告，公司于2026年5月21日召开2025年年度股东会，审议通过董事会换届选举相关议案，选举产生第七届董事会董事。同日召开的第七届董事会第一次会议选举吴利廷为董事长，田乐为副董事长，并设立战略委员会、审计委员会、薪酬与考核委员会、提名委员会。部分董事因任期届满离任，包括熊磊、刘定群、宋刚、孙宝。

The pitch on the Vanguard Information Technology ETF (NYSEARCA:VGT) is sector breadth. You pay nine basis points, you get the entire information technology sleeve of the U.S. market, roughly $125 billion in assets aggregated into one ticker. So a 50 year old tilting their 401(k) toward tech with VGT thinks they own a sector. They ... VGT Looks Like a Diversified Tech Bet Until You Realize Three Stocks Are 43 Percent of It

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Grandbrothers/iStock Editorial via Getty Images Bayer ( BAYRY ) ( BAYZF ) announced on Thursday that the U.S. Food and Drug Administration has granted priority review for its marketing application seeking a label expansion for its kidney disease therapy Kerendia. Based on data from its Phase 3 FINE-ONE study, the German conglomerate’s supplemental New Drug Application targets Kerendia’s approval for adults with chronic kidney disease associated with type 1 diabetes. The treatment, also known as finerenone, is already available in the U.S. for adults with CKD associated with type 2 diabetes and for heart failure patients with at least 40% of left ventricular ejection fraction. Data published in the New England Journal of Medicine in March indicated that FINE-ONE hit the main goal, as finerenone led to a statistically significant reduction of urine albumin-to-creatinine ratio, an important predictor of kidney events over six months in adults with CKD and T1D. More on Bayer Bayer Aktiengesellschaft (BAYRY) Presents at 21st Annual Global Farm to Market Conference - Slideshow Bayer Aktiengesellschaft 2026 Q1 - Results - Earnings Call Presentation Bayer: Higher Risks From Litigation Drive My Price Target Down Bayer wins FDA priority review for asundexian in stroke and TIA patients Bayer agrees to pay $133M for PCB cleanup in Michigan, Rhode Island

伊朗表示，美国提出的最新方案已在一定程度上缩小交战方之间的分歧。双方正试图把脆弱的停火转化为和平协议。 伊朗半官方媒体伊朗学生通讯社周四报道称，德黑兰正在准备回应美国所提出的一份文本的过程中，该文本“在一定程度上缩小了分歧”；该报道未说明消息来源。“要进一步缩小分歧，就需要华盛顿方面终结战争的冲动。” 伊朗外交部另外表示，双方此番信息交换是以伊朗数周前提出的一份14点文本为基础的。该方案实质上提出一项短期协议，即伊朗重新开放霍尔木兹海峡，美国则解除对伊朗港口的封锁，随后交战方再就德黑兰核计划展开更深入谈判。 伊朗没有说明何时会正式回复美国。伊朗外交部重申，希望获得战事将在“所有战线，包括黎巴嫩”结束的承诺。伊方还呼吁解冻受制裁资产。 伊朗学生通讯社报道，巴基斯坦陆军参谋长阿西姆·穆尼尔将于周四访问德黑兰。伊斯兰堡是双方之间的主要调停方。 在此之前，美伊对峙持续，双方再度发出升级威胁。 美国总统特朗普周三对记者表示，美国对伊外交已进入“最后阶段”，引发投资者对协议临近的希望。美国国债价格一度跳涨，油价则下跌。 但特朗普随后警告称，如果伊朗不接受他的条件，他可能在未来几天恢复打击。自4月8日停火生效以来，他已多次发出类似威胁。 “我们要么达成协议，要么就会做一些不太好看的事情。但希望不会走到那一步，”特朗普称。 双方之间的主要分歧之一在于伊朗的铀浓缩活动及其高浓缩铀库存。由于担心德黑兰可能利用这些材料制造原子弹，美国要求伊朗移交高浓铀，并承诺至少在十年内停止铀浓缩。伊朗领导人公开拒绝了这些要求。 媒体周四报道称，伊朗最高领袖穆杰塔巴·哈梅内伊已发布指令，不得将伊朗接近武器级的浓缩铀运往国外。路透援引两名了解情况、未具名的伊朗消息人士作出上述报道。 伊朗一贯拒绝将其浓缩铀库存运往美国，但曾表示可考虑将其转移至第三国。该国外长阿巴斯·阿拉格齐上周曾感谢俄罗斯提出接收这些材料的提议，同时提醒称，这一想法目前并未处于讨论之中。 在路透报道发布后，油价由跌转涨，上涨2美元，至每桶107美元。自冲突爆发以来，基准油价已上涨45%。 伊朗总统佩泽希齐扬坚称，伊朗并未接近屈服的边缘。他周三在X平台发文称：“妄图通过胁迫迫使伊朗投降，不过是一种幻想。” 责任编辑：江学思

LONDON, May 21, 2026 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ) (“Arqit” or the “Company”), a global leader in quantum-safe encryption, announces financial results for the first half of fiscal year 2026. Consistent with management’s preliminary assessment of the expected range of revenue, which was announced 10 April 2026, reported revenue for the first half of fiscal year 2026 was $623,000 as of 31 March 2026. Revenue for the period compares favourably to revenue for the comparable period in fiscal year 2025 of $67,000 and revenue for the second half of fiscal year 2025 of $463,000. Revenue was generated from eleven contracts in the first half of fiscal year 2026. For comparison, Arqit generated revenue from seven contracts in the full fiscal year 2025. 3 contracts were with telecom network operators and 8 were with government, defence and enterprise organizations, all key markets for Arqit. The Company has maintained cost discipline with operating costs averaging $2.6 million per month for the period, excluding external legal expenses primarily associated with the previously announced resolution of a shareholder lawsuit. The Company ended the period with cash and cash equivalents of approximately $28.9 million as of 31 March 2026. Cash and cash equivalents as of 20 May 2026 was $35.9 million. In January, Arqit announced the commercial launch of Encryption Intelligence, a completely automated cryptographic inventory solution, which enables continuous discovery and risk prioritisation to help governments and enterprises plan and execute migration to post-quantum cryptography (PQC). In collaboration with Intel, Arqit announced in February the availability of its encryption software pre-installed inside an Intel Trust Domain Extensions (Intel TDX) trusted execution environment (TEE) on Intel Netsec Accelerator Reference Design-based accelerator cards enabling confidential computing for telecom operators and critical national infrastructure. In February, Arq...

Micron Biomedical National and local leaders across government, investors, life science industry and academia acknowledge the impact of Micron’s dissolvable vaccines and therapies on human health and economic development Micron Biomedical’s is clinical-stage biotechnology company developing and manufacturing dissolvable microarray vaccines and therapeutics that overcome access challenges including needle phobia, clinician shortages in healthcare desserts, and cumbersome cold chain (refrigeration) requirements during storage and transport. The company recently opened a 26,000 square foot commercial-scale manufacturing site in Alpharetta, Georgia for pivotal clinical trials that will accelerate the availability of needle-free vaccines and therapeutics that can be self-administered at home. ALPHARETTA, Ga., May 21, 2026 (GLOBE NEWSWIRE) -- Micron Biomedical today announced the grand opening of its world-class manufacturing facility spanning more than 26,000 square feet in Alpharetta, Georgia. The opening marks the most advanced commercial-scale manufacturing site for Micron’s dissolvable vaccine and therapeutic technology in the world and positions the company for pivotal clinical trials that will accelerate the availability of needle-free vaccines and therapeutics that can be self-administered at home. “A significant body of evidence has shown that our dissolvable microarray technology is as effective as — or more effective than — conventionally injected medicines. Parents, patients, government officials, drug developers, public health leaders, and payers also prefer needle-free vaccines and therapeutics that are simpler and more cost-effective to transport and store,” said Steven Damon, CEO of Micron Biomedical. “Our novel technology requires equally innovative manufacturing equipment capable of scaling production, and this facility brings us one step closer to making that vision a reality.” Micron Biomedical opens commercial-scale manufacturing site in Alpharetta, G...

Sunshine Seeds/iStock via Getty Images Shortly before earnings, I highlighted two companies that I felt were primed to reward shareholders with massive rewards throughout the remainder of 2026. I mentioned in April that I thought that the first quarter earnings were not going to be that exciting, but then most of the focus of conversation would be on the second quarter and beyond. This is because oil prices in the 1st quarter were actually depressed, something that sounds completely foreign to us now, with oil consistently hovering around the $100 mark for a barrel using the West Texas Intermediate ( WTI ) crude pricing. It's difficult to imagine that people were genuinely concerned that oil prices were going to fall low enough to cause a strain on producers. Part of the reason for low oil prices to be forecasted was that supply was expected to continue to outpace demand this year and potentially even next year, before demand climbs beyond supply in the future, raising prices. Little did anyone expect the military actions that occurred, both in Venezuela, opening up more supply, and Iran vastly limiting global supply, and the shock it would have on oil prices in both instances. Today, we live in a new paradigm for the moment. Until a peace deal is struck and production can successfully flow from the oil fields to refineries around the world, oil prices will remain elevated due to supply constraints. This means that for oil producers that can generate oil at a low break-even price, all the extra high oil pricing volatility is going to provide them with additional cash flow. I say that with a caveat. If they are a company that hedges their oil prices heavily due to the expectation of low prices, they may not be able to capture the upside effectively. The company I want to look into today uses very limited to no hedging on their oil production, meaning that all this upside volatility we've experienced in 2026 will be pure profit for them. Pure profit for them translate...

anilbolukbas/iStock Editorial via Getty Images V.F. Corporation ( VFC ) has continued to show good progress in the company’s turnaround. The apparel giant’s fiscal Q4 results from the January-March quarter show acceleration in sales growth due to great momentum in Americas. Margin turnaround progress has continued through gross margin gains. Ultimately, the focus remains on Vans, which has failed to show meaningful turnaround progress despite some initial signs of improved brand momentum. I maintained a Hold rating in my previous January article on the stock, titled “ V.F. Corp.: The Turnaround Is Advancing ”. The stock has since lost -14% of its value, meanwhile the S&P 500 has gained 6%. My Rating History on VFC (Seeking Alpha) V.F. Q4 Review The V.F. turnaround has gained momentum. V.F. reported improved 3% organic constant currency sales growth in Q4 to a total of $2.17 billion, exceeding the company’s 0-2% growth guidance for the quarter. Growth was again carried by The North Face, as the brand showed impressive 7% constant currency growth to a $935 million topline. Timberland’s growth did slow down to only 2% with sales of $405 million, but The North Face’s momentum was more than offset by other brands’ strength. Growth was consistent across direct-to-consumer and wholesale. VFC Q4'FY26 Investor Presentation Rationalized markdowns, pricing initiatives, and a shift into higher-margin products continue to bolster V.F.’s margins. The gross margin came in at 56.4%, up by 240 basis points from a year ago. Adjusted operating income game in at $54 million, up by $38 million year-on-year despite increased SG&A spending. The margin turnaround is still progressing. The report beat Wall Street’s revenue and EPS expectations by a small margin. V.F.’s strength was led by significant 10% constant currency sales growth in Americas, which I believe to be highly impressive and indicative of the brand portfolio’s strength in the critical U.S. market. The operating environment w...

Shutthiphong Chandaeng/iStock via Getty Images The following segment was excerpted from the Silver Beech Capital Q1 2026 Investor Letter. In this quarter's letter, we have written about our new position in Apollo Global Management ( APO ). In the first quarter, we initiated a large position in Apollo Global Management (("Apollo")). The market has penalized Apollo for its complexity, underappreciated the durability of its growth, and lumped it in with peers exposed to a wave of private credit anxieties from which we believe Apollo is largely insulated. The convergence of private capital and life insurance is one of the most consequential and durable themes in financial services today, and Apollo is its most structurally advantaged operator due to the pioneering combination of its asset manager and captive life insurer. Business model Apollo's operating model is best understood as three integrated engines: • An alternative asset manager managing capital on behalf of Athene, third-party insurers, institutional investors, and private wealth clients across drawdown funds, perpetual capital vehicles, separately managed accounts, sidecars, and other structures. • A fully integrated life insurer —largely Athene—that originates long-duration life and annuity liabilities, supplying captive, permanent capital. • An origination machine producing credit assets through owned lending platforms ((corporate, real estate, asset-backed, consumer, specialty)), bilateral originations, and bank partnerships. Each engine is a leader in its category. Apollo is a top alternative asset manager by assets under management ((“AUM”)). Athene is the largest issuer of U.S. retail annuities. And Apollo originated more than $300 billion of credit in 2025—a scale exceeded only by a handful of the largest banks. The mechanics: Athene earns spread-related earnings ((“SRE”)) on the gap between asset yields and liability costs, reinvested on its own balance sheet; the asset manager earns fee-related earn...

Getty Images Costco’s ( COST ) in a spot a lot of strong, steady businesses find themselves. The company’s still running smoothly and the business model just keeps working. But the stock price has been pushed so high, almost as if everyone expects nothing but perfection. My last call on this was to Hold . I figured Costco kept hitting all the right notes, steady growth in memberships, healthy sales numbers, profits moving up, but the stock price had pulled so far ahead of what the company was actually earning that even good news, or a small upside, was already baked into what people expected. Since I last checked in at $925.55, the share price has first dropped to about $844, before rebounding to $1,074. Costco’s still performing just fine, most of their key numbers are still moving up. COST Membership Strength I’m still neutral for the long haul. The business itself isn’t really in doubt. Paid memberships climbed 4.8% from a year ago. Membership fees reached $2.684 billion in the first half of FY26, including $1.355 billion in Q2. Renewal rates were 92.1% in the U.S. and Canada and 89.7% worldwide. Executive memberships now drive almost three-quarters of sales. Those steady payments are a big reason Costco’s first-half operating cash flow reached $7.684 billion. Net income is $4.036 billion for the first half of FY26. They’re still adding new stores, 924 warehouses are open now and they plan 21 additional new warehouses, including three relocations, in the rest of FY26 and about 942 by year-end. That’s a clear sign they’re still thinking long-term and about growing overseas, too. Online’s not the main profit engine, but it isn’t just a bonus anymore. It’s starting to matter. Ecommerce site traffic jumped 32%. Digitally-enabled comparable sales are up 22.6% year over year, or 21.7% adjusted for FX. Investments in logistics and e-commerce are starting to really make a difference. COST Second-quarter numbers came in strong again, most companies would call these result...

Lemon_tm/iStock via Getty Images Performance The Fund underperformed its blended benchmark (50% S&P 500 Index /10% EAFE Index/40% Bloomberg US Aggregate Bond Index) during the quarter. Market overview Global equity markets, as measured by the MSCI ACWI Index ¹ , ended the quarter modestly higher in US dollar terms. The period was marked by bouts of volatility, driven by concerns over elevated valuations and uncertainty surrounding returns and financing for large-scale data centre investments. These factors prompted profit-taking in certain mega-cap and AI-related stocks, although the market overall remained resilient. Market leadership shifted towards Health Care, which rallied following the Trump administration's agreement with major pharmaceutical firms to reduce Medicaid drug prices. Procyclical sectors also outperformed, with Materials buoyed by commodity strength and Financials expected to benefit from looser monetary conditions. Emerging markets were the standout performers, supported by a weaker US dollar, lower interest rates and easing trade tensions. Small-cap stocks also performed strongly, reaching new highs, as investors seek out attractive valuations. Fixed income markets shifted from cautious optimism to heightened uncertainty in Q1 2026, as a major energy supply shock collided with a fragile labor market, forcing central banks into a delicate balancing act. The Federal Reserve (Fed) held its target interest rate range steady at 3.50% to 3.75% at both its January and March meetings, pausing the easing cycle that had delivered three consecutive 25 basis point ( BPS ) ² cuts in late 2025. The March Statement of Economic Projections raised 2026 real US GDP growth to 2.4% and lifted both headline and core Personal Consumption Expenditures ³ inflation forecasts to 2.7%, reflecting uncertainty tied to the conflict with Iran. The dot plot continued to signal one interest rate cut for 2026, consistent with futures market pricing by quarter-end. Market overvie...

A spike in fertilizer costs driven by the Iran war is hitting farmers in agriculture powerhouse Brazil at the worst possible time, underscoring how the Middle East conflict is threatening global food supplies. Brazilian farmers have already been grappling with lower commodity prices, limited access to credit, elevated debt , unfavorable currency exchange rates and surging costs of moving goods to ports. Now the rapid rise in fertilizer is taking things to a tipping point, and many growers are rethinking investments in land and crop inputs as they look ahead to the next planting season. Take for example soybeans, the nation’s top crop. Acreage will expand by the slowest rate in nearly 20 years for the season that starts in September, according to market intelligence company Veeries. Consultancy Agroconsult gave a similar outlook recently, while an estimate from analysts at Datagro forecasts the lowest growth in a decade. “Anyone who watched agribusiness in the past 10 years had always viewed the sector as prosperous and growing,” said Marcos Rubin, founder of market intelligence company Veeries. “That’s not the environment now.” It’s a shift that has the potential to ripple through the global agriculture landscape. The country’s abundant, low-cost soybeans have helped boost international stockpiles of the oilseed used in cooking oil and animal feed. The nation is the top supplier to China, the world’s biggest crop buyer. Slowdowns in Brazil could mean added food inflation in Asia and beyond as importers compete for supplies. Within Brazil, pessimism in the agriculture industry is widespread. Farmer sentiment as calculated by Bloomberg Intelligence has dropped to the lowest in more than a year. The situation presents a political challenge for president Luiz Inacio Lula da Silva , who is running for reelection. Agriculture accounts for about a quarter of Brazil’s gross domestic product by some measures, and distressed farmers are looking for more subsidized credit, alo...