designer491/iStock via Getty Images Thesis The story for the past months has been around the crash in CLO equity funds. Even the large outlet Bloomberg jumped on the bandwagon with the following story: Bloomberg headline (Bloomberg) The crux of the issue has been the sudden decrease in value and total return as investors re-assess the health of the economy and credit spreads: Performance (YCharts)...
designer491/iStock via Getty Images Thesis The story for the past months has been around the crash in CLO equity funds. Even the large outlet Bloomberg jumped on the bandwagon with the following story: Bloomberg headline (Bloomberg) The crux of the issue has been the sudden decrease in value and total return as investors re-assess the health of the economy and credit spreads: Performance (YCharts) When looking at some of the largest funds like the Eagle Point Credit Company ( ECC ), the Oxford Lane Capital Corp ( OXLC ), the Carlyle Credit Income Fund ( CCIF ) and Sound Point Meridian Capital ( SPMC ) we see the same story: total returns between -30% and -41% in the past year. We are using a total return component in order to include the very high dividends included in the funds distributions. In today's article we are going to show readers that while the common equity has been under pressure for OXLC, its bonds are still safe and present a compelling opportunity. What does OXLC do? Let us start by looking at what a fund like OXLC actually does: Oxford Lane Capital Corp is a publicly-traded closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended. Our investment objective is to maximize our portfolio’s total return. Our current focus is to seek an attractive risk-adjusted total return by investing primarily in debt and equity tranches of CLO vehicles, which are collateralized principally by a diverse portfolio of senior loans, and which generally have little to no exposure to real estate loans, mortgage loans or pools of consumer-based debt, such as credit card receivables or auto loans. OXLC invests in CLO equity tranches, the most junior in a CLO structure: CLO capital structure (Pinebridge) The equity in a CLO is the most junior tranche and represents the first loss one as well. For this investors are compensated handsomely, with yields from 12% to 25%. In effect investors here take...
At an inquest in Hull, senior coroner Prof Paul Marks said the pair, who had both been "fit and well", were on holiday with Cherish's family and they had all spent the evening together the night before they died.
At an inquest in Hull, senior coroner Prof Paul Marks said the pair, who had both been "fit and well", were on holiday with Cherish's family and they had all spent the evening together the night before they died.
jetcityimage Energy focused exchange traded funds are drawing renewed attention Tuesday after comments from Exxon Mobil ( XOM ) CEO Darren Woods highlighted operational challenges tied to the escalating conflict involving Iran, the United States, and Israel. Woods said the company has evacuated non-essential personnel from its Middle East operations as a precautionary measure amid rising regional ...
jetcityimage Energy focused exchange traded funds are drawing renewed attention Tuesday after comments from Exxon Mobil ( XOM ) CEO Darren Woods highlighted operational challenges tied to the escalating conflict involving Iran, the United States, and Israel. Woods said the company has evacuated non-essential personnel from its Middle East operations as a precautionary measure amid rising regional tensions. He also noted that XOM has scaled back certain activities to better manage inventory levels, citing ongoing disruptions and uncertainty surrounding shipping traffic through the Strait of Hormuz, one of the world’s most critical oil transit routes. The developments have placed Exxon Mobil in focus for investors tracking energy sector ETFs. The oil major is a widely held component across the ETF landscape and currently appears in 480 exchange traded funds. Collectively, those funds hold more than 705M shares of XOM, underscoring the company’s significant influence across energy-focused investment portfolios. Outlined below are the 10 ETFs with the largest allocations towards XOM: Global X PureCap MSCI Energy ETF ( GXPE ), 30.25% allocation. Westwood Salient Enhanced Energy Income ETF ( WEEI ), 23.95% allocation. Energy Select Sector SPDR Fund ( XLE ), 23.65% allocation. Vanguard Energy ETF ( VDE ), 23.53% allocation. Strive U.S. Energy ETF ( DRLL ), 23.38% allocation. iShares U.S. Energy ETF ( IYE ), 23.29% allocation. Direxion Daily Energy Bull 2x Shares ( ERX ), 22.64% allocation. Fidelity MSCI Energy Index ETF ( FENY ), 21.94% allocation. Portfolio Building Block Integrated Oil and Gas and Exploration and Production Index ETF ( PBOG ), 20.15% allocation. iShares Global Energy ETF ( IXC ), 18.54% allocation. Other energy ETFs to watch: Energy ETFs: ( AMLP ), ( XOP ), and ( OIH ). Oil ETFs: ( USO ), ( UCO ), ( DBO ), ( OILK ), and ( USL ). Natural Gas ETFs: ( UNG ), ( BOIL ), and ( UNL ). More on markets Turkey says NATO shot down second Iranian ballistic missile a...
↘️ Exxon Mobil (XOM): The energy company plans to move its legal home to Texas, joining a flock of corporations hoping for a more business-friendly environment. Shares of oil producers inched lower early Tuesday, as crude prices slid.
↘️ Exxon Mobil (XOM): The energy company plans to move its legal home to Texas, joining a flock of corporations hoping for a more business-friendly environment. Shares of oil producers inched lower early Tuesday, as crude prices slid.
Micron Technology (MU) just got a massive bullish call from one of Wall Street’s finest just days before its next earnings report. Citi analysts led by Atif Malik reiterated their Buy rating on the memory giant, bumping their price target to $430 from $385. At the time of writing, on Monday, March ...
Micron Technology (MU) just got a massive bullish call from one of Wall Street’s finest just days before its next earnings report. Citi analysts led by Atif Malik reiterated their Buy rating on the memory giant, bumping their price target to $430 from $385. At the time of writing, on Monday, March ...
Death Valley in California - the hottest place on Earth and the driest place in North America - is currently carpeted in wildflowers in what is shaping up to be the best bloom in a decade. The National Park Service (NPS) officially categorised this as an above-average bloom year on 22 February, with low-elevation flowers blooming throughout the park. It is the best event the site has seen since 20...
Death Valley in California - the hottest place on Earth and the driest place in North America - is currently carpeted in wildflowers in what is shaping up to be the best bloom in a decade. The National Park Service (NPS) officially categorised this as an above-average bloom year on 22 February, with low-elevation flowers blooming throughout the park. It is the best event the site has seen since 2016, with swathes of the desert transformed and covered in golden and violet flora. The trigger was an unusually wet autumn. Record rainfall of 2.41in (6.1cm) hit Death Valley in the autumn of 2025, soaking seeds and washing off their protective coatings to trigger sprouting, followed by a dramatically wetter winter that provided the steady moisture needed for root development. Read more here.
How can Advanced Micro Devices (AMD +0.76%) turn AI design wins and a multi‑billion dollar GPU deal into durable revenue, despite fierce competition from competitors? Watch the video below for key milestones investors should track. *This video was published on Feb. 24, 2026.
How can Advanced Micro Devices (AMD +0.76%) turn AI design wins and a multi‑billion dollar GPU deal into durable revenue, despite fierce competition from competitors? Watch the video below for key milestones investors should track. *This video was published on Feb. 24, 2026.
DKosig Sonos ( SONO ) announced on Tuesday that it is introducing two new “essential” speakers that are designed to bring back the simple, whole-home system that originally made the brand popular while updating the experience with modern connectivity and tuning. The products are positioned as easy-to-use, fairly priced building blocks for multiroom audio. The compact speakers can be scattered arou...
DKosig Sonos ( SONO ) announced on Tuesday that it is introducing two new “essential” speakers that are designed to bring back the simple, whole-home system that originally made the brand popular while updating the experience with modern connectivity and tuning. The products are positioned as easy-to-use, fairly priced building blocks for multiroom audio. The compact speakers can be scattered around a house to create a seamless sound blanket, all controlled through the Sonos app and current software platform. The announcement emphasizes “effortless” setup and listening, with plug-in-and-play installation, Wi-Fi-based multiroom playback, and straightforward grouping of rooms for synchronized music throughout the home. Sonos ( SONO ) is leaning heavily on its heritage of simple whole-home sound, pitching the speakers as the default choice for people who want premium, reliable audio without dealing with amps, receivers, or custom installs. Notably, Sonos ( SONO ) has gone more than a year without meaningful new mass-market hardware. Under then-CEO Patrick Spence, the company explicitly delayed at least two products that had been slated for late 2024 after a controversial overhaul of the Sonos app led to widespread bugs, customer frustration, and softer financial guidance. The current leadership under CEO Tom Conrad has described the product delay as an intentional reset. The new launches are seen as the beginning of a fresh cycle focused on products that reinforce Sonos as a cohesive home system rather than one-off gadgets. Shares of Sonos ( SONO ) fell 1.1% in Tuesday morning trading and are down about 20% on a year-to-date basis. However, both Wall Street analysts and Seeking Alpha analysts have a consensus Buy rating on the stock. More on Sonos Sonos, Inc. (SONO) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript Sonos, Inc. 2026 Q1 - Results - Earnings Call Presentation Sonos: New Products Chart A New Growth Trajectory Sonos outlines ...
A long lost film centered on George Michael’s landmark 1988 Faith tour is set for cinema release later this year, in addition to a new album of previously unheard live performances. George Michael: The Faith Tour is being lined up for a global big screen rollout, with footage taken from a previously unseen 14 camera shoot of Michael’s performance at Paris’ Bercy Arena in 1988. A press release bill...
A long lost film centered on George Michael’s landmark 1988 Faith tour is set for cinema release later this year, in addition to a new album of previously unheard live performances. George Michael: The Faith Tour is being lined up for a global big screen rollout, with footage taken from a previously unseen 14 camera shoot of Michael’s performance at Paris’ Bercy Arena in 1988. A press release bills the project as a tour de force in archival film-making, celebrating Michael’s ambition and artistry at its peak. The film will be directed by the singer’s longtime collaborators Andy Morahan and David Austin. The project comes from George Michael Entertainment and Mercury Studios, with release date and distribution details yet to be revealed. The film will be presented alongside a new short film from photographer Mary McCartney which includes voiceover from a previously unheard Michael interview as well as behind the scenes footage of Michael’s iconic Faith video by American photographer Herb Ritts. An 18-track live album titled The Faith Tour is also on the way and will feature previously unreleased Wham! recordings as well as Michael solo material. Michael’s Faith album is widely regarded as one of the defining pop albums of the 1980s, with over 25m global sales and four US number one singles including Faith, Father Figure, One More Try and Monkey. The Guardian’s Alan McGee described the album as Michael’s masterpiece, writing: “Faith (the album) was classic pop. It found Michael moving into Brian Wilson Pet Sounds territory,” adding that the artist co-produced, wrote all the songs, played most of the instruments and sang backing vocals and harmonies. Previously, Morahan and Austin directed the 2017 documentary George Michael: Freedom, which spotlit the singer’s initial hunger for fame as well as his subsequent disillusionment with the music industry. Michael was putting the finishing touches to the documentary before his death in 2016. Michael has rarely been far from ...
primeimages/iStock via Getty Images The war in Iran is increasingly weighing on global financial markets and economic activity. Reflecting the rising macro risk, the major U.S. equity benchmarks have slipped into negative territory for the year. But a closer look at stocks shows that most equity risk factors continue to enjoy positive returns in 2026, based on a set of ETFs through Monday’s close ...
primeimages/iStock via Getty Images The war in Iran is increasingly weighing on global financial markets and economic activity. Reflecting the rising macro risk, the major U.S. equity benchmarks have slipped into negative territory for the year. But a closer look at stocks shows that most equity risk factors continue to enjoy positive returns in 2026, based on a set of ETFs through Monday’s close (Mar. 9). Mid-cap growth ( IJK ) is leading the field, posting a 6.6% year-to-date gain. Although the fund has slipped in recent days, it traded up yesterday and is just 4.4% below the record high it set last week. Most of the risk factors that make up the stock market are holding on to gains this year. The two exceptions: momentum ( MTUM ) and large-cap growth ( IVW ), which are mainly responsible for pulling the broad equity market indexes into the red this year. The SPDR S&P 500 ETF ( SPY ), for instance, is down 0.5% in 2026 vs. a 2.8% loss for large-cap growth (IVW). Although the war so far has had varied effects on different segments of the stock market, the threat to equities will likely rise the longer the conflict continues. Until a solution, diplomatic or otherwise, reopens the shuttered Strait of Hormuz — the transit point for roughly 20%-plus of the world’s oil and liquefied natural gas — a global energy crisis looms, which could in turn trigger a worldwide recession. The divergence in performance this year highlights a market that is repricing broad macro risk while still rewarding more defensive or structurally resilient styles. The key question for the months ahead is whether the economic drag from higher energy prices, weaker confidence, and tighter financial conditions becomes strong enough to drag down all factor returns down as well. If the macro shock deepens, the current resilience in factor strategies may prove temporary. There are positive signs emerging. Saudi Aramco, based in Saudi Arabia, says it expects to restore roughly 70% of its usual crude ex...
Key Takeaways Bank of America resumed coverage of Qualcomm with an Underperform rating and $145 price target Qualcomm faces a $7–8 billion revenue loss as Apple transitions to proprietary modem technology Samsung plans to reduce Qualcomm content in Galaxy phones from 100% to approximately 75% by fall 2026 Chinese smartphone giant Xiaomi is investing $7 billion in proprietary chip development Bank ...
Key Takeaways Bank of America resumed coverage of Qualcomm with an Underperform rating and $145 price target Qualcomm faces a $7–8 billion revenue loss as Apple transitions to proprietary modem technology Samsung plans to reduce Qualcomm content in Galaxy phones from 100% to approximately 75% by fall 2026 Chinese smartphone giant Xiaomi is investing $7 billion in proprietary chip development Bank of America forecasts only 2% yearly revenue growth for Qualcomm through fiscal year 2028 Shares of Qualcomm declined 3.1% to $133.81 during premarket hours on Tuesday following Bank of America’s resumption of coverage with an Underperform designation. The chipmaker’s stock has now fallen 19% since the beginning of the year. QUALCOMM Incorporated, QCOM Bank of America assigned a $145 price objective to the stock — representing approximately 5% potential upside from Monday’s closing price. Analyst Vivek Arya pointed to sluggish expansion prospects and intensifying competition throughout Qualcomm’s primary business segments. The most significant concern centers on Apple. By fall 2027, Qualcomm’s cellular modems are anticipated to be completely removed from iPhones as Apple transitions to internally developed chips. Bank of America calculates the revenue impact at approximately $7–8 billion. Apple, Samsung, and Xiaomi collectively accounted for roughly 54% of Qualcomm’s fiscal 2025 revenue. This heavy customer concentration creates substantial vulnerability for the semiconductor company. Samsung is pursuing a parallel strategy. According to Bank of America, Qualcomm’s presence in Samsung’s fall 2026 Galaxy product line will decline from complete coverage to approximately 75%. This represents another significant revenue stream under threat. Meanwhile, Xiaomi has allocated $7 billion toward in-house chip development — sending a strong message that the Chinese manufacturer also intends to decrease dependence on external semiconductor suppliers. “QCOM’s core equity risk is increasi...
Legora, an AI platform for lawyers, is now valued at $5.55 billion following a $550 million Series D set to fuel its growth in the U.S. That’s despite growing competition with rival Harvey, but also with Microsoft Copilot and generalist large language models (LLMs). Publicly listed legal software companies saw their stocks drop when Anthropic unveiled a legal plugin for Claude. Legora is built on ...
Legora, an AI platform for lawyers, is now valued at $5.55 billion following a $550 million Series D set to fuel its growth in the U.S. That’s despite growing competition with rival Harvey, but also with Microsoft Copilot and generalist large language models (LLMs). Publicly listed legal software companies saw their stocks drop when Anthropic unveiled a legal plugin for Claude. Legora is built on top of LLMs, and mostly on Claude, but its positioning as a platform that supports lawyers with complex cases gives CEO Max Junestrand some peace of mind. “It’s amazing that everybody can have their own pocket lawyer in Claude, but we’re not solving for the same use case,” he said via livestream at the Techarena conference in Stockholm. With a focus on embedding itself into its clients’ workflows, Legora’s platform is now used by 800 law firms and legal teams — and investors took note. Its Series D was led by Accel, with participation from existing investors Benchmark, Bessemer, General Catalyst, ICONIQ, Redpoint Ventures, and Y Combinator; and new backers including Alkeon Capital, Bain Capital, Firstmark Capital, Menlo Ventures, Salesforce Ventures, Sands Capital, and Starwood Capital. There are other signs that investors are bullish about AI legaltech. Legora’s Series D and valuation jump come just a few months after its October 2025 $150 million Series C round led at a $1.8 billion valuation. Its competitor, Harvey, which is backed by a16z, is already valued at $8 billion, and is now reportedly seeking to raise at a $11 billion valuation. According to Dealroom, they are also on almost identical trajectories with regard to revenue. Both are also branching out globally; Harvey is pushing hard into Europe, and Legora in the opposite direction. Formerly known as Judilica, then Leya, the startup is an alum of Stockholm’s SSE Business Lab, a known breeding ground for unicorns. But after participating in YC’s winter 2024 batch, Legora is now headquartered in New York and keen t...
Legora, an AI platform for lawyers, is now valued at $5.55 billion following a $550 million Series D set to fuel its growth in the U.S. That’s despite growing competition with rival Harvey, but also with Microsoft Copilot and generalist large language models (LLMs). Publicly listed legal software companies saw their stocks drop when Anthropic unveiled a legal plugin for Claude. Legora is built on ...
Legora, an AI platform for lawyers, is now valued at $5.55 billion following a $550 million Series D set to fuel its growth in the U.S. That’s despite growing competition with rival Harvey, but also with Microsoft Copilot and generalist large language models (LLMs). Publicly listed legal software companies saw their stocks drop when Anthropic unveiled a legal plugin for Claude. Legora is built on top of LLMs, and mostly on Claude, but its positioning as a platform that supports lawyers with complex cases gives CEO Max Junestrand some peace of mind. “It’s amazing that everybody can have their own pocket lawyer in Claude, but we’re not solving for the same use case,” he said via livestream at the Techarena conference in Stockholm. With a focus on embedding itself into its clients’ workflows, Legora’s platform is now used by 800 law firms and legal teams — and investors took note. Its Series D was led by Accel, with participation from existing investors Benchmark, Bessemer, General Catalyst, ICONIQ, Redpoint Ventures, and Y Combinator; and new backers including Alkeon Capital, Bain Capital, Firstmark Capital, Menlo Ventures, Salesforce Ventures, Sands Capital, and Starwood Capital. There are other signs that investors are bullish about AI legaltech. Legora’s Series D and valuation jump come just a few months after its October 2025 $150 million Series C round led at a $1.8 billion valuation. Its competitor, Harvey, which is backed by a16z, is already valued at $8 billion, and is now reportedly seeking to raise at a $11 billion valuation. According to Dealroom, they are also on almost identical trajectories with regard to revenue. Both are also branching out globally; Harvey is pushing hard into Europe, and Legora in the opposite direction. Formerly known as Judilica, then Leya, the startup is an alum of Stockholm’s SSE Business Lab, a known breeding ground for unicorns. But after participating in YC’s winter 2024 batch, Legora is now headquartered in New York and keen t...
US existing-home sales unexpectedly rose in February and the prior month was revised up. Contract closings increased 1.7% to a 4.09 million annualized rate, according to National Association of Realtors data released Tuesday. Mike McKee reports on "Bloomberg Open Interest." (Source: Bloomberg)
US existing-home sales unexpectedly rose in February and the prior month was revised up. Contract closings increased 1.7% to a 4.09 million annualized rate, according to National Association of Realtors data released Tuesday. Mike McKee reports on "Bloomberg Open Interest." (Source: Bloomberg)