Papa John's International ( PZZA ) reported total revenue was down 7.7% in Q1 to $478.6M. Adjusted EBITDA, net income, and non-GAAP EPS were all lower than last year's marks as well/ Global system-wide sales fell 3% to $1.20B, and global comparable sales declined 3.9%. The North America business remained weak, with comparable sales down 6.4%, while international continued to outperform, posting 3.6% comparable sales growth. Management pointed to lower domestic company-owned restaurant sales after refranchising 85 restaurants in late 2025, plus weaker North America commissary and digital/advertising revenue. Papa John's ( PZZA ) opened 28 restaurants in the quarter to bring its system count to 6,020 locations across 50 countries and territories. Looking ahead, the pizza chain operator reiterated its 2026 outlook for flat to down low-single-digit global system-wide sales, North America comparable sales down 2% to 4%, international comparable sales up 2% to 4%, and adjusted EBITDA of $200M to $210M. Last month, sources confirmed that Qatari-backed investment fund Irth Capital has been in talks with Papa John's ( PZZA ) and conducting due diligence on a potential acquisition over the last month. The talks have advanced to the point that a deal was expected to be announced in weeks. Shares of Papa John's ( PZZA ) were down 3.1% in premarket action after falling 3.0% on Wednesday. Short interest on PZZA stands at 12.0% of the total float. More on Papa John's Papa John's: A Slice Of Dividend Remains Attractive And Sustainable Papa John's: Cheap Enough To Consider Despite Dividend Cut Risks Papa John's International, Inc. (PZZA) Presents at UBS Global Consumer and Retail Conference Transcript Papa John's misses top-line and bottom-line estimates; reaffirms FY26 outlook Papa John's Q1 2026 Earnings Preview

Sky Quarry ( SKYQ ) said on Thursday it signed a non-binding agreement with Southern Energy Renewables and DevvStream ( DEVS ) to develop low-carbon and alternative fuel projects. The deal focuses on expanding operations at Sky Quarry’s PR Spring asset and Foreland refinery, including testing sustainable aviation fuel (SAF), recycled hydrocarbon blends, and specialty fuels. Sky Quarry said the partnership could help speed up fuel development projects and open access to carbon credit and environmental markets through DevvStream. At the Foreland refinery in Nevada, the companies plan to explore blending synthetic and conventional feedstocks and producing aviation and specialty fuels. The memorandum of understanding runs for three years and is largely non-binding while the companies work toward definitive agreements. More on Sky Quarry, DevvStream Corp. XCF Global secures $10M funding to advance plant conversion, supports planned business combination XCF Global to merge with DevvStream, Southern Energy Financial information for Sky Quarry Financial information for DevvStream Corp.

Marcus & Millichap press release ( MMI ): Q1 GAAP EPS of -$0.08. Revenue of $171.5M (+18.3% Y/Y). Brokerage commissions of $138.1 million, an increase of 11.7% compared to $123.6 million Private Client Market brokerage revenue of $88.1 million, an increase of 13.4% compared to $77.7 million Middle Market and Larger Transaction Market brokerage revenue of $44.6 million, an increase of 9.2% compared to $40.9 million Financing fees of $26.8 million, an increase of 48.1% compared to $18.1 million Pre-tax loss of $2.2 million compared to $13.9 million, an improvement of 84.4% Net loss of $3.1 million, or $0.08 per common share, diluted, compared to a net loss of $4.4 million, or $0.11 per common share, diluted Adjusted EBITDA1 of $2.9 million compared to $(8.7) million, an improvement of 133.7%. More on Marcus & Millichap Marcus & Millichap, Inc. (MMI) Shareholder/Analyst Call Prepared Remarks Transcript Marcus & Millichap: High Forecasts, Fragile Backdrop Marcus & Millichap, Inc. (MMI) Q4 2025 Earnings Call Transcript Marcus & Millichap signals optimism for 2026 with 8.5% revenue growth and AI-driven efficiency focus Marcus & Millichap GAAP EPS of $0.34 beats by $0.13, revenue of $244M beats by $14.55M

3个月做出一家独角兽公司的“AI教母”，还低调参与创办了一家AI公司。 近日，前谷歌副总裁、美国国家工程院、国家医学院、艺术与科学院三院院士——华人科学家李飞飞，又出现在一家公司的融资新闻里，A轮+B轮合计融资5600万美元（约合3.81亿元）。 此次获得融资的并非李飞飞在2024年4月创办的‌空间智能AI公司World Labs（世界实验室），而是她参与创办的AI游戏生成公司——Astrocade（astro来自Astronomy，词根“astro-”表示天体；cade来自Arcade，可指配备电子游戏设备的娱乐场所），可译为“宇宙游戏厅”。李飞飞在这家公司，担任首席科学官（CSO）兼AI战略顾问。 值得一提的是，“宇宙游戏厅”或许想要成为“游戏版TikTok”，其团队在官方博客里曾如此类比——就像TikTok激发了几十亿人成为视频创作者一样，Astrocade要让几十亿人成为游戏创作者。 在“AI游戏社区”这一品类，自2025年底已开始被越来越多人讨论。类似的公司中，Gizmo和Sekai在2025年中后段陆续上线，前者获得了First Round Capital的种子轮投资，后者获得了a16z青睐。 这些公司都与“宇宙游戏厅”不谋而合，同样想成为“游戏版TikTok”。 3轮融资6800万美元，上线8个月收获2000万用户 Astrocade AI Ltd成立于2022年，前期，“宇宙游戏厅”一直在闷头搞技术，直到2024年6月完成种子轮融资时才正式对外公开，与“世界实验室”的诞生时间相差无几。 彼时，“宇宙游戏厅”刚刚完成1200万美元种子轮融资，吸引AME Cloud Ventures、NVIDIA Ventures、游戏和科技界传奇人物等成为投资方。 据悉，“宇宙游戏厅”采用专门的AI模型处理地形、角色动画等环节，并通过AstroBrain协调模型实现端到端生成，“用户无需编写代码，仅通过自然语言描述即可在几分钟内生成可玩的游戏”。‌ 来源：Astrocade‌官网截图 以“宇宙游戏厅”用自身产品做出的Demo为例，这是一款硅谷创业模拟游戏，马斯克、奥特曼、卡帕西等科技圈的标志性人物都以角色形式出现。 与“宇宙游戏厅”类似，赤子城科技旗下的Aippy——用户说一句话，就能生成一个可以玩的互动作品，如小游戏、小测试、数字玩具等。相关作品投入内容流后，其他用...

adventtr/E+ via Getty Images Shares of quantum computing company IonQ ( IONQ ) fell about 7% premarket on Thursday despite first-quarter results and outlook, which beat estimates, seeing bullish views from analysts. Morgan Stanley kept its Equal-weight rating but raised the price target on the stock to $48.50 from $47. "IonQ continues to decisively beat its quarterly guidance figures, it's difficult to discern what's driving the strength given a broader portfolio and typical conservatism but trends are clearly healthy overall. Technology milestones are also progressing well, and we are encouraged by the progress," said analysts led by Joseph Moore. The analysts noted that the company has never been specific about what's contributing to the strength versus expectations in any one quarter (and general conservatism is going to play a role as well), but it's a testament to strong ongoing momentum as, organic or not, everything appears to be growing. The analysts expect to get more information in the 10-Q to know if Skyloom or Seed Innovations (acquisitions closed in late January for a combined nearly $200M in stock) were material contributors to the growth. The analysts said that based on what they know, the revenue setup remains conservative, with the updated $265M 2026 revenue guidance implying an average of $66M per quarter in the second half of the year versus $68M at the top end of the second quarter guidance. "So we would look for more beats and raises as we move through 2026, given the company continues to announce promising engagements in satellites, quantum networking, etc., that point to ecosystem momentum. The company also disclosed for the first time that one-third of revenue came from customers who have purchased more than one product, so cross-selling synergies seem to be playing out as well," said Moore and his team. Wedbush maintained its Outperform rating and increased the price target on IonQ's stock to $75 from $60. "IONQ delivered solid 1Q results ac...

Delcath Systems press release ( DCTH ): Q1 GAAP EPS of -$0.03 beats by $0.07 . Revenue of $24.99M (+26.3% Y/Y) beats by $1.58M . HEPZATO KIT™ revenue of $23.3 million, compared to $18.0 million in the first quarter of 2025 CHEMOSAT® revenue of $1.7 million, compared to $1.8 million in the first quarter of 2025 Currently 29 active centers Approximately 36% growth in HEPZATO volume in the first quarter 2026 compared to the first quarter 2025 The Company’s financial outlook for fiscal year 2026: Total CHEMOSAT and HEPZATO KIT revenue to be at least $100 million, reflecting an increase in HEPZATO KIT volume of at least 20% over 2025 Gross margins in the range of 84% to 87% Positive adjusted EBITDA More on Delcath Systems Delcath: Fundamentals Intact, Despite Share Price Weakness Delcath Systems, Inc. (DCTH) Q4 2025 Earnings Call Transcript Delcath Systems Q1 2026 Earnings Preview Delcath targets at least $100M revenue in 2026 while expanding to 40 treatment centers Seeking Alpha’s Quant Rating on Delcath Systems

ON Semiconductor ( ON ) said Thursday it priced a private offering of $1.3B in 0% convertible senior notes due 2031, with the conversion price set at an approximately 52.5% premium to the company’s May 6 closing stock price, as the chipmaker seeks to raise capital on favorable terms. The offering of the notes and the convertible hedge and warrant transactions described below are expected to close on May 11. ON Semiconductor ( ON ) expects net proceeds from the notes offering to total about $1.28B, or roughly $1.47B if the initial purchasers fully exercise their option to buy additional notes, after discounts and offering expenses. More on ON Semiconductor ON Semiconductor: Overbought Ahead Of Slow Fundamental Recovery, Downgrade To Hold ON Semiconductor Corporation 2026 Q1 - Results - Earnings Call Presentation ON Semiconductor Corporation (ON) Q1 2026 Earnings Call Transcript ON Semiconductor to raise $1.3B through private offering of convertible senior notes Onsemi produces strong guidance after reaching inflection point: analysts

(RTTNews) - W.W. Grainger, Inc. (GWW) released a profit for its first quarter that Increased, from the same period last year

Assessing Oracle’s (ORCL) AI Infrastructure Investment and Its Impact on Debt Ratios Insider Monkey

曾言要在2025年“再造一个新老板电器”，却在2025年交出了史上最差的年报。 近日，老板电器发布2025年度报告。财报显示，2025年全年老板电器营收101.16亿元，同比下滑9.78%；归母净利润12.56亿元，同比下滑20.38%。营收、净利润双双下降。 《BUG》栏目统计发现，这是老板电器自2010年上市以来首次营收同比下滑，同时也是首次归母净利润同比下滑超20%。更严重的是，双降趋势仍延续到了今年Q1季度。 惨淡的业绩背后，长期贡献70%以上营收份额的“烟灶”产品线集体哑火，以及蒸烤箱、洗碗机及集成灶等主营外“第二曲线”类业务大幅度下滑，直接拖累业绩。 伴随年报发布，曾在老板电器“新三年战略（2023-2025）”担任重要管理职务的副董事长任富佳，副总经理何亚东及周海昕等人，均出现大幅度降薪情况。其中，任富佳为老板电器创始人独子，被誉为公司接班人，其薪资直接“腰斩”。 主营“哑火”，第二曲线集体“溃败” 据《BUG》栏目统计，自2010年11月23日在深圳证券交易所上市以来，老板电器长期保持营收正增长，尤其在2016年之前，公司营收长期保持约30%同比增速，一路高歌猛进。但2016年后，公司营收增速开始放缓，逐渐下滑至个位数增长，至2025年，公司营收首次同比下滑9.78%，创下公司上市以来增速最差表现。 在归母净利润表现上，除去年同比下滑20.38%外，老板电器虽然在2021年及2024年创下19.81%和8.97%的同比下滑，但下滑幅度均不及2025年度。 惨淡的业绩背后，2025年老板电器吸油烟机、燃气灶等主营产品，分别下滑8.62%、9.76%，以及集成灶、蒸箱、烤箱、洗碗机等有望成为公司第二曲线的产品线分别大幅度下滑57.56%、48.29%、52.95%、14.10%，成为拖累公司业绩的关键。 分渠道来看，烟灶两件套套餐、厨电套餐、吸油烟机等产品线线上份额的急剧下滑，同样拖累了公司业绩。 2025年，老板电器烟灶两件套套餐、厨电套餐、吸油烟机市场份额分别为18.82%、17.57%、19.57%，市占率均为第一。 但相比于2024年同期26.89%、25.46%、21.41%的市场占有率，前述产品线上市场份额，已分别缩减8.07、7.89、1.84个百分点。 如果只看半年报，2025年上半年，老板电器烟灶两件套套餐、厨电套餐、吸油烟机产品线上市...

Palvella Therapeutics press release ( PVLA ): Q1 GAAP EPS of -$1.20. Cash, cash equivalents, and short-term investments as of March 31, 2026 were $261.9 million, which reflects net proceeds of $215.8 million from a February 2026 equity financing. Shares outstanding were 15,738,543 as of May 1, 2026, including 14,342,844 shares of common stock and 1,394,761 common share equivalents assuming conversion of outstanding pre-funded warrants. More on Palvella Therapeutics Palvella Therapeutics: A Potential First-In-Class Therapy In A Rare Dermatology Market Quant snapshot: J. Jill, AngioDynamics leads strong buys as INmune Bio, Terrestrial Energy lag Palvella Therapeutics stock rises on $200M share offering Seeking Alpha’s Quant Rating on Palvella Therapeutics Historical earnings data for Palvella Therapeutics

格隆汇5月7日｜巴西全国谷物出口商协会(ANEC)预计，巴西5月份豆粕出口量将达到256万吨，而去年同期为212万吨。

Amid Tech Volatility, These 3 Stocks Are Up & Boosting BuybacksBrink's (NYSE:BCO) reported first-quarter 2026 results that management said came in at the upper end of its guidance ranges, driven by continued growth in higher-margin ATM Managed Services and Digital Retail Solution

In this article WHR Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 1:02 01:02 Whirlpool says Iran war caused 'recession-level industry decline' in U.S. Squawk Box Whirlpool shares tumbled Thursday after the iconic appliance maker warned that the war in Iran triggered a severe downturn, underscoring how sharply higher fuel prices and collapsing consumer confidence are beginning to weigh on big-ticket purchases. "War in Iran resulted in recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March," the company said in its earnings filing. The comments marked one of the starkest corporate warnings yet about the economic fallout from the conflict and contrasted with more resilient spending trends recently highlighted by companies tied to travel and services. Shares of Whirlpool, maker of washers, dryers, dishwashers and other home appliances, dropped a whopping 20% in premarket trading. Loading chart... CEO Marc Bitzer said Whirlpool moved quickly to cut costs and adjust pricing as macroeconomic conditions deteriorated. "We acted decisively to address pricing and costs in the face of rapid deterioration in macroeconomic conditions," Bitzer said in a statement. "Now, with Section 232 changes in favor of domestic manufacturers, Whirlpool Corporation is structurally positioned to win with our American-made products." The company also slashed its full-year earnings guidance roughly in half, cutting its forecast to a range of $3 to $3.50 a share from a prior outlook of about $6 a share. Whirlpool said it would also suspend its dividend as it prioritizes paying down debt. Analysts at JPMorgan said the lower earnings outlook was driven by higher raw material inflation, a larger net tariff impact and weaker price and product mix benefits. While companies such as Uber and Disney have reported little evidence of consumers pulling back on travel, entertainment and convenience spending, the comments from the Maytag parent...

(RTTNews) - Insight Enterprises Inc. (NSIT) released earnings for its first quarter that Increases, from the same period last year

Telecom Italia S.p.A. press release ( TIIAY ): Q1 Group total revenues amounted to 3.3 billion euros, up by 1.4% year-on-year (-0.9% in domestic to 2.2 billion euros, +6.4% in Brazil to 1.1 billion euros); Group service revenues are up by 2.3% year-on-year to 3.1 billion euros (+0.2% in domestic to 2.1 billion euros, +6.5% in Brazil to 1.1 billion euros); excluding the MVNO business segment, total Group revenue growth would be 3.1% year-over-year, and service revenue growth would be 4.1% year-over-year. Group EBITDA was slightly down, decreasing by 1.7% year-on-year to 1.0 billion euros (-7.1% in domestic to 0.4 billion euros, +3.9% in Brazil to 0.5 billion euros); Group EBITDA After Lease was slightly down (-2.7% year-on-year), amounting to 0.8 billion euros (-8.2% in domestic to 0.4 billion euros, +4.3% in Brazil to 0.4 billion euros). Excluding the MVNO business segment, the growth of the Group's EBITDA AL would be equal to 4.1% year-on-year. More on Telecom Italia S.p.A. Telecom Italia S.p.A. 2025 Q4 - Results - Earnings Call Presentation Telecom Italia S.p.A. (TIAIY) Q4 2025 Earnings Call Transcript Telecom Italia S.p.A. reports FY results Historical earnings data for Telecom Italia S.p.A. Financial information for Telecom Italia S.p.A.

麦当劳 周四公布季度盈利与营收数据，均超出分析师预期。即便身处首席执行官克里斯・肯普钦斯基所称的充满挑战的经营环境，美国市场到店消费者的消费支出仍有所增加。 这家快餐巨头盘前股价涨幅超 3%。 公司将于美国东部时间上午 8：30 召开财报电话会议，投资者将密切关注油价走高是否已令消费者承压的相关信号。从达美乐比萨到 Chipotle 墨西哥烧烤等其他餐饮企业均披露，自美国与伊朗爆发战事、燃油价格飙升后，其3月销售已出现走弱。 以下为伦敦证券交易所集团（LSEG）分析师调查统计的公司实际业绩与华尔街预期对比： 调整后每股收益：2.83 美元，预期 2.74 美元。 营收：65.2 亿美元，预期 64.7 亿美元。 麦当劳公布一季度净利润19.8 亿美元，折合每股收益 2.78 美元；去年同期净利润为 18.7 亿美元，每股收益 2.60 美元。 剔除重组费用及其他一次性项目后，连锁餐厅每股收益为 2.83 美元。 公司净营收同比增长 9%，达 65.2 亿美元。 财经数据机构 StreetAccount 数据显示，麦当劳本季度同店销售额增长 3.8%，基本符合华尔街 3.7% 的市场一致预期。 在麦当劳本土美国市场，同店销售额增长 3.9%，主要得益于顾客到店消费客单价提升。 这家快餐巨头一方面依靠高性价比套餐吸引预算敏感型消费者，另一方面也通过营销造势与产品创新，以略高的定价吸引客群。《超级马里奥银河大电影》《K-Pop：猎梦少女》联名套餐均不参与折扣优惠；3 月初在美国限时推出的超大号巨无霸汉堡 Big Arch，也主打高端汉堡定位。 公司国际直营市场同店销售额同样增长 3.9%，该板块涵盖法国、德国、澳大利亚等麦当劳核心海外市场。 国际发展特许经营市场同店销售额增长 3.4%，其中日本成为该板块一季度表现最佳市场。 责任编辑：江学思

‍这两天，水井坊的一纸公告就给市场投下了一枚震撼弹。 总经理胡庭洲，那个年薪近千万的“天价打工人”，因个人原因一口气辞去了董事、总经理、战略委员、提名委员以及法定代表人在内的所有职务。 此时距离他2024年7月走马上任，还不到两年。 而就在他闪人之前一周，公司刚刚披露了那份惨不忍睹的2025年年报和2026年一季报。 在这轮行业深度调整期，老板跑得比业绩反弹还快，千万年薪，再看下这几年的GU价表现，实在是让人大跌眼镜。 01 年薪近千万，业绩却不尽人意 这年头，业绩不好高管下台倒也不稀奇，但水井坊的操作属实过于魔幻。 官方数据显示，2024年胡庭洲虽然7月中才履职，全年却拿走了623.39万元；到了2025年，全年税前薪酬更是高得离谱，达到了996.44万元。一个总经理一年拿走将近1000万，这在整个白酒上市公司里都算得上天价级别。 2025年行业整体净利润大跌24%，绝大多数酒企都在缩衣节食，水井坊却在对高管进行“逆向激励”，实在是不合理。 更令人窒息的操作还在后面：拿着远超同行的薪酬搞来了职业经理人，结果胡庭洲前脚刚发布完战略规划，后脚公司业绩就直接崩盘，全年营收无悬念暴跌掉41.77%，仅仅勉强守住30亿大关；归母净利润更是跌至4.06亿元，同比断崖式下滑69.73%。。。 更令投资人无语的是行业的集体境遇。放眼整个2025年的白酒圈，早就是“哀鸿遍野”：上市酒企全年营业收入合计被杀掉了18.3%，归母净利润更是暴跌了24.1%。 而在这种大环境下，水井坊的营收和净利润跌幅竟然分别是行业平均跌幅的两倍和三倍多。 拿着干大事的薪水，却交出了比摆烂同行还难看的成绩单，这操作属实让人摸不着头脑。 更要命的是，在年报中动辄百万、千万的高管薪酬面前，散户们的那些廉价“信仰”显得格外尴尬。 02 钱袋子漏风，现金流遭遇冰点 不赚钱只是一方面，水井坊连“吸金”能力都出现了严重断层。 数据来源：年报 最新的财务数据让人看着脊背发凉，虽然2026年一季度的经营现金流净额勉强转正至7021万元，但覆盖2025全年来看，经营活动现金流净额竟然出现了夸张的-6.24亿元。 要知道，在白酒行业这种“印钞机”属性极强的赛道上，卖酒把钱卖成了负数，这口锅真不是行业调整就能甩掉的。对比2024年高达7.44亿元的正向现金流入，这一正一反之间，硬生生折腾没了13.68亿元。 年报发出后，我们瞬...

Micron stock surged 700%: is the $3,000 target real? Rolling Out

TripAdvisor press release ( TRIP ): Q1 Non-GAAP EPS of -$0.11 misses by $0.04 . Revenue of $382.4M (-3.9% Y/Y) misses by $2.29M . Adjusted EBITDA for the first quarter was $22.1 million, or 5.8% of revenue. More on TripAdvisor Tripadvisor: Activist Pressure Supports Our Upside Outlook Tripadvisor: A Focus On Experiences Won't Stop The Bleeding Tripadvisor, Inc. 2025 Q4 - Results - Earnings Call Presentation TripAdvisor Q1 2026 Earnings Preview Travel agents’ decline highlights uneven impact of tech disruption, Stripe Economics' says

美伊结束战争希望缓解通胀担忧，市场风险偏好升温，全球股市上扬，油价走低，金银齐涨。 5月7日，美股指期货微幅上涨，美股半导体股盘前走弱，ARM跌6.7%，英特尔跌超2%，超威半导体跌超1%，存储概念巨头普跌，闪迪跌超3%，美光科技跌超2%，西部数据、希捷科技跌超1%。欧股涨跌互现，亚股指齐涨，日股领涨。美债收益率下行，美元走软，油价下挫，布油跌3%，现货黄金涨超1%，现货白银涨5%。 据央视新闻报道 ，一名巴基斯坦消息人士6日表示，美国和伊朗正接近达成一份旨在结束战争的谅解备忘录。该备忘录旨在结束战争，并为更详细的核问题谈判设定框架。另据CGTN援引阿拉伯电视台消息人士称，各方已就解除封锁以换取逐步重新开放霍尔木兹海峡达成谅解共识。未来几小时内，滞留在海峡的船只局势有望取得突破性进展。 停火及霍尔木兹海峡封锁有望解除，令能源价格承压回落，大幅缓解了市场对通胀及利率高企的担忧。这一宏观预期的转变，直接带动美债收益率下行与美元走弱，从而为以美元计价的贵金属及基础金属板块注入了强劲的上涨动能。 道明证券策略师 瑞安·麦凯表示：“有关可能达成和平协议的新闻提振了贵金属和基本金属市场，但我们提醒投资者，这些新闻仍然非常脆弱，极易逆转，因为与之前的提议相比，美国和伊朗的要求似乎没有改变。” 核心市场走势如下： 美股期指涨幅收窄，三大指数期货仅微涨，此前纳指期货日内涨幅一度扩大至0.3%。 美股半导体股盘前走弱，ARM跌6.7%，英特尔跌超2%，超威半导体跌超1%，存储概念巨头普跌，闪迪跌超3%，美光科技跌超2%，西部数据、希捷科技跌超1%。 欧股开盘涨跌不一，欧洲斯托克50指数涨0.16%，德国DAX指数涨0.03%，英国富时100指数跌0.11%，法国CAC 40指数涨0.06%。 日经225指数收涨5.58%，报62833.84点；韩国首尔综指收涨1.43%，报7490.04点。 WTI原油跌超3%至91.95美元/桶。 现货黄金短线拉升，日内涨超50美元，现报4740美元/盎司；现货白银持续拉升，日内涨超4%站上80美元关口。 美股期指涨幅收窄，三大指数期货仅微涨，此前纳指期货日内涨幅一度扩大至0.3%。 油价延续跌势，WTI原油跌超3%至91.95美元/桶。 黄金价格周三上涨3%，创下自3月下旬以来最大单日涨幅，今日进一步突破4700美元/盎司。此前，自2月底冲突爆发以...

CoreWeave (NASDAQ: CRWV) has one of the boldest AI infrastructure stories in the market, with major contracts from companies like Meta (NASDAQ: META) and Anthropic, supporting a significant growth runway. But its debt-fueled expansion creates a major test for investors: can deman

Aurinia Pharma press release ( AUPH ): Q1 GAAP EPS of $0.25 beats by $0.05 . Revenue of $77.7M (+24.4% Y/Y) beats by $0.72M . Net Product Sales: For the three months ended March 31, 2026, net product sales of LUPKYNIS, the first FDA-approved oral therapy for the treatment of adult patients with active lupus nephritis, were $73.6 million, up 23% from $60.0 million in the same period of 2025. License, Collaboration and Royalty Revenue: For the three months ended March 31, 2026, license, collaboration and royalty revenue from Aurinia’s collaboration partner, Otsuka, was $4.1 million, up 64% from $2.5 million in the same period of 2025. Aurinia reiterates its guidance for 2026 total revenue of $315 million to $325 million, up 11% to 15% compared to 2025, and 2026 net product sales of $305 million to $315 million, up 12% to 16% compared to 2025. More on Aurinia Pharma Aurinia Pharmaceuticals: New Management, Continued Lupkynis Performance Aurinia Pharmaceuticals: Waiting For Another Opportunity (Downgrade) Aurinia Pharmaceuticals Inc. (AUPH) Q4 2025 Earnings Call Transcript Aurinia Pharmaceuticals acquiring Kezar Life Sciences Aurinia Pharmaceuticals appoints Kevin Tang as CEO

Marc Benioff has run Salesforce (NYSE: CRM) since 1999, and he has given no signal he intends to leave. Yet 26 years into his tenure as co-founder, board chair, and chief executive, the question of what happens without him is worth asking. Why Benioff Matters More Than a Typical Software CEO Benioff is a category-defining ... Beyond Benioff: Is Salesforce Ready for Life Without Its Founder?

Dragos Condrea/iStock via Getty Images This is the quarter that Palantir ( PLTR ) transitions from relying on potential to building evidence. After this quarter, the narrative moves from proving the existence of demand for AI to proving the possibility of making AI into the operational layer that actually deploys AI at scale. This changes everything. I'm still very bullish on Palantir although no longer as an undiscovered opportunity. The upside now depends less on adoption and more on whether Palantir can sustain control of the orchestration layer as AI infrastructure commoditizes. The Earnings Update That Actually Matters What mattered about the financial performance was not the 85% growth in revenues but rather the operating model behind the performance. Palantir managed to achieve an impressive $925 million in adjusted free cash flows off $1.63 billion in sales, indicating that the company achieved a margin of 57%, while continuing to hire and invest in technologies. Such an operating approach is rare. Most software firms growing at breakneck speed continue to forego profits in favor of maintaining growth momentum. Palantir does the exact opposite. Yet more importantly, the firm reported adjusted operating profits of $984 million indicating that its revenues continue to benefit from exceptionally high margins. Palantir's Business Update Q1 Yet oddly enough, as I reflect on this Q1 earning call I feel the urge to talk about Palantir's ability to control the critical components of the AI infrastructure as opposed to the business working. While it was obvious during the earnings beat, the focus of the company's management on governance, orchestration and the "no-slop zone" makes me think that Palantir is looking to position itself as an execution layer for enterprise AI, not just a software layer. Why The Ontology Still Sits At The Center I still believe Ontology lies at the heart of the whole story. What I mean by that is that the easiest mistake is to consider On...

Dragos Condrea/iStock via Getty Images This is the quarter that Palantir ( PLTR ) transitions from relying on potential to building evidence. After this quarter, the narrative moves from proving the existence of demand for AI to proving the possibility of making AI into the operational layer that actually deploys AI at scale. This changes everything. I'm still very bullish on Palantir although no longer as an undiscovered opportunity. The upside now depends less on adoption and more on whether Palantir can sustain control of the orchestration layer as AI infrastructure commoditizes. The Earnings Update That Actually Matters What mattered about the financial performance was not the 85% growth in revenues but rather the operating model behind the performance. Palantir managed to achieve an impressive $925 million in adjusted free cash flows off $1.63 billion in sales, indicating that the company achieved a margin of 57%, while continuing to hire and invest in technologies. Such an operating approach is rare. Most software firms growing at breakneck speed continue to forego profits in favor of maintaining growth momentum. Palantir does the exact opposite. Yet more importantly, the firm reported adjusted operating profits of $984 million indicating that its revenues continue to benefit from exceptionally high margins. Palantir's Business Update Q1 Yet oddly enough, as I reflect on this Q1 earning call I feel the urge to talk about Palantir's ability to control the critical components of the AI infrastructure as opposed to the business working. While it was obvious during the earnings beat, the focus of the company's management on governance, orchestration and the "no-slop zone" makes me think that Palantir is looking to position itself as an execution layer for enterprise AI, not just a software layer. Why The Ontology Still Sits At The Center I still believe Ontology lies at the heart of the whole story. What I mean by that is that the easiest mistake is to consider On...

David Tran/iStock Editorial via Getty Images Introduction Per my February article , Amazon ( AMZN ) is rather old for negative free cash flow (“FCF”). We now have a tremendous amount of new information including the 2025 letter to shareholders and the 1Q26 earnings release . Yes, it is unusual for a mature company like Amazon to go negative FCF but Amazon is not a typical company. My thesis is that agentic AI is great for AWS. Agentic AI doesn’t just increase hyperscale cloud demand, it shifts where value accrues within the stack, structurally favoring AWS. In the world of AI, it is important to understand the harness, the agent and the LLM but these inventions can seem abstract without an analogy. Suppose a chef named Bob needs to make a pasta dish. Bob is the agent. He holds the goal of finishing the dish, sequences the work, and remembers what he's already done. Bob’s cooking intuition is the LLM, guiding what he does at each step. The kitchen, including the stove, ingredients, and utensils, is the harness. For Amazon, Bedrock and AgentCore are the harness or the kitchen in our analogy. At AWS, AgentCore is where the agent runs while Bedrock provides access to the underlying models. Bedrock Bedrock gives AWS customers choices and flexibility. I think of Bedrock as a giant resort. Instead of driving around the area to places like restaurants, gift shops and spas, customers can do business in all these areas in a single building and then pay a single bill when checking out of the resort. Anthropic’s Claude has been part of the set of models on Bedrock for some time now and OpenAI is finally joining the set. This is a key consideration for Bedrock, it gives customers choices. They can run a Claude model on Monday and then run a model from someone else on Tuesday. Bedrock has both stateless and stateful optionality. Focusing on agents, Amazon CEO Andy Jassy says stateful AI systems are the future. A chatbot is mainly stateless. The user asks a question, it answers an...

David Tran/iStock Editorial via Getty Images Introduction Per my February article , Amazon ( AMZN ) is rather old for negative free cash flow (“FCF”). We now have a tremendous amount of new information including the 2025 letter to shareholders and the 1Q26 earnings release . Yes, it is unusual for a mature company like Amazon to go negative FCF but Amazon is not a typical company. My thesis is that agentic AI is great for AWS. Agentic AI doesn’t just increase hyperscale cloud demand, it shifts where value accrues within the stack, structurally favoring AWS. In the world of AI, it is important to understand the harness, the agent and the LLM but these inventions can seem abstract without an analogy. Suppose a chef named Bob needs to make a pasta dish. Bob is the agent. He holds the goal of finishing the dish, sequences the work, and remembers what he's already done. Bob’s cooking intuition is the LLM, guiding what he does at each step. The kitchen, including the stove, ingredients, and utensils, is the harness. For Amazon, Bedrock and AgentCore are the harness or the kitchen in our analogy. At AWS, AgentCore is where the agent runs while Bedrock provides access to the underlying models. Bedrock Bedrock gives AWS customers choices and flexibility. I think of Bedrock as a giant resort. Instead of driving around the area to places like restaurants, gift shops and spas, customers can do business in all these areas in a single building and then pay a single bill when checking out of the resort. Anthropic’s Claude has been part of the set of models on Bedrock for some time now and OpenAI is finally joining the set. This is a key consideration for Bedrock, it gives customers choices. They can run a Claude model on Monday and then run a model from someone else on Tuesday. Bedrock has both stateless and stateful optionality. Focusing on agents, Amazon CEO Andy Jassy says stateful AI systems are the future. A chatbot is mainly stateless. The user asks a question, it answers an...

Matt Cardy/Getty Images News BAE Systems ( BAESF ) ( BAESY ) said Thursday it remains on course to deliver annual earnings growth of 9% to 11%, supported by sustained demand as geopolitical tensions, including the Iran conflict, continue to lift defense spending. The U.K.-based contractor, which produces Typhoon fighter jets, nuclear submarines, and naval vessels, reported a solid start to 2026. It also supplies a wide range of equipment to its largest customer, the United States, including space and satellite systems, combat vehicles, and munitions. The company pointed to a worsening global security environment as a key driver of its outlook, noting that governments are allocating more resources to defense in response to rising threats. BAE Systems’ order backlog has nearly doubled since Russia’s invasion of Ukraine in 2022, while its shares have climbed close to 300% over that period, reflecting expectations for sustained military spending, particularly among NATO countries. Looking ahead, the company expects new business across multiple segments, including space technologies, missile and air defense systems, as well as drone and counter-drone capabilities. In the U.K., however, clarity on future domestic spending priorities remains pending. The government, which has committed to its largest increase in defense spending since World War II, has yet to release a detailed investment plan after months of delay. More on BAE Systems plc BAE Systems: Europe's Defense Boom Still Isn't Fully Priced In BAE Systems: Dangerous Valuation In 2026E, Despite Geopolitical Implications BAE Systems plc (BAESY) Q4 2025 Earnings Call Transcript Zelenskiy calls for European missile shield as Ukraine seeks faster air defense options Defense giants secure $1.84B Andromeda deal to boost space surveillance

博士带队，又一家创新药公司要上市了。 5月4日，礼邦医药（江苏）股份有限公司（简称：“礼邦医药”）更新了最新的招股书，拟在港交所上市。这是继2025年10月首次递表失效后，礼邦医药的第二次IPO尝试。 01 成立于2018年的礼邦医药，是一家专注于肾脏病领域的生物制药公司。正是看到慢性肾脏病这一全球性医疗难题的市场空白，夏国尧（Gavin Guoyao Xia）博士与田劲携手，创立了礼邦医药。 作为公司核心创始人，两人的专业背景为礼邦医药的发展奠定了坚实基础。夏国尧是一位经验丰富的企业家及风险投资家，在医疗保健行业拥有超过15年的专业知识，专长于药物研发及生物技术初创公司的管理。曾获得北京大学化学和经济学双学士学位，以及芝加哥大学化学博士学位。 田劲是一名经验丰富的肾脏病学家，拥有超过30年的行业经验，曾于雅培及罗氏任职，专注于临床开发，其深厚的临床经验为礼邦医药的产品研发和临床试验提供了关键支撑。 依托核心团队的专业优势，礼邦医药已构建起丰富且有竞争力的产品管线。截至最后实际可行日期，礼邦医药的临床及临床前产品组合由一款核心产品AP301及六款其他候选产品组成，其中包括：一款临床后期候选产品(AP306)、一款临床前期候选药物(AP303)，以及四款临床前候选药物（AP308、AP304、AP305与AP307）。 来源：招股书截图 其中，公司的核心产品AP301是一款独特的磷结合剂，用于治疗高磷血症。高磷血症是CKD最常见的并发症之一，存在大量未被满足的医疗需求。AP301已完成中国III期注册临床试验，预计于近期提交新药申请，目前正在美国和中国开展全球III期关键多中心临床试验。 除了在研管线，礼邦医药已拥有一款商业化产品美信罗，该产品是一款长效促红素（EPO），用于治疗与CKD相关的贫血。它是全球首个获批每月一次给药的长效EPO。礼邦医药在获得美信罗®的中国商业化权利后，随即将其纳入2023年中国国家医保药品目录。截至最后实际可行日期，美信罗已进入中国超过300家医院。 业绩方面，2023年、2024年和2025年，礼邦医药收入分别约为零、人民币652.5万元、3055.6万元；期内亏损分别为3.65亿元、3.35亿元和7.52亿元。 02 招股书提到，公司收入由2024年的650万元增加至2025年的3055.6万元，主要由于美信罗®的销售增加，此乃得益于...