halbergman A decision by the U.S. Supreme Court exposing third-party trucking brokers to liability in accident-related lawsuits is weighing on the transportation logistics sector. Shares of C.H. Robinson Worldwide ( CHRW ), Landstar ( LSTR ), and RXO Inc. ( RXO ) are all in negative territory as the SCOTUS decision now opens up numerous lawsuits in which third-party logistics providers had previou...
halbergman A decision by the U.S. Supreme Court exposing third-party trucking brokers to liability in accident-related lawsuits is weighing on the transportation logistics sector. Shares of C.H. Robinson Worldwide ( CHRW ), Landstar ( LSTR ), and RXO Inc. ( RXO ) are all in negative territory as the SCOTUS decision now opens up numerous lawsuits in which third-party logistics providers had previously been insulated. The unanimous decision determined that the Federal Aviation Administration Authorization Act, also known as F4A, includes the freight brokerage industry. At issue was the wording in F4A that included “with respect to motor vehicles,” which had previously excluded brokers. However, the SCOTUS decision now allows this wording to include brokers who hired the vehicle. The decision was based on the case of Montgomery vs. Caribe Transport II, where an individual was struck and injured by a Caribe truck, which was hired by C.H. Robinson. Following the SCOTUS decision, the case can now be retried with C.H. Robinson as a defendant. While third-party trucking brokers are pinned down by the ruling, the broader trucking sector is getting a boost from comments from J.B. Hunt Transport Services ( JBHT ) over the likelihood of spot rates climbing 20% over the next two years as the stricter regulatory environment continues to remove capacity in the trucking industry. At the Bank of America industrials conference this week, Brad Hicks, the president of dedicated contract services for J.B. Hunt ( JBHT ) said recent enforcement issues are reducing the supply of truckers and drivers. “We have the English language proficiency being enforced. It wasn't a new law. They're just now enforcing it to the standard it was expected to. That's causing capacity to exit. And then we've seen cabotage, which is where we have Mexican- and Canadian-based carriers come in and run domestic freight, which is illegal and has been for many years, also being enforced. So really, there's no new l...
Artificial intelligence has already produced plenty of eye-popping numbers. Nvidia (NASDAQ:NVDA) crossed a $5 trillion market cap. Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) alone are spending nearly $400 billion on AI infrastructure this year. Data center electricity demand is climbing so fast that utilities are suddenly growth stocks again. But one figure may be the most ... It Took Salesf...
Artificial intelligence has already produced plenty of eye-popping numbers. Nvidia (NASDAQ:NVDA) crossed a $5 trillion market cap. Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) alone are spending nearly $400 billion on AI infrastructure this year. Data center electricity demand is climbing so fast that utilities are suddenly growth stocks again. But one figure may be the most ... It Took Salesforce 20 Years to Reach $30 Billion in Revenue — Anthropic Did It in 3
HX5 founder Margarita Howard explains why compliance is a defining challenge of the contracting environment. By Exec Edge Editorial Staff By the end of 2025, only about 270 of the roughly 80,000 defense contractors expected to require Level 2 cybersecurity certification in 2026 had obtained it. Margarita Howard, founder and chief executive of contractor HX5, […]
HX5 founder Margarita Howard explains why compliance is a defining challenge of the contracting environment. By Exec Edge Editorial Staff By the end of 2025, only about 270 of the roughly 80,000 defense contractors expected to require Level 2 cybersecurity certification in 2026 had obtained it. Margarita Howard, founder and chief executive of contractor HX5, […]
The meeting may have been delayed but when the summit between Chinese President Xi Jinping and his US counterpart Donald Trump took place on Thursday, it yielded a forward-looking agreement. Sitting down for talks at the Great Hall of the People in central Beijing, the two leaders agreed to make stability a key goal of relations over the next three years – and beyond, according to state media. Tru...
The meeting may have been delayed but when the summit between Chinese President Xi Jinping and his US counterpart Donald Trump took place on Thursday, it yielded a forward-looking agreement. Sitting down for talks at the Great Hall of the People in central Beijing, the two leaders agreed to make stability a key goal of relations over the next three years – and beyond, according to state media. Trump also invited Xi and first lady Peng Liyuan to visit the White House, setting the date for...
wdstock/iStock Editorial via Getty Images StubHub Holdings, Inc. ( STUB ) has been the worst major initial public offering of the last sixteen-plus months. At Wednesday's close of $7.54, shares were down 68% from the stock's $23.50 IPO price . Both the direction and the size of the decline have been brutal: Data by YCharts The STUB stock chart alone seems to suggest the IPO was mispriced—which no ...
wdstock/iStock Editorial via Getty Images StubHub Holdings, Inc. ( STUB ) has been the worst major initial public offering of the last sixteen-plus months. At Wednesday's close of $7.54, shares were down 68% from the stock's $23.50 IPO price . Both the direction and the size of the decline have been brutal: Data by YCharts The STUB stock chart alone seems to suggest the IPO was mispriced—which no doubt is true. The secondary ticket platform simply doesn't seem to be quite as good a business as investment banks believed. That's reflected in the stunning miss by sell-side analysts: as I noted at the time, in November the Street projected 2026 Adjusted EBITDA of $870 million . Current guidance (reiterated after Wednesday afternoon's first-quarter earnings report) is for $400 to $420 million , less than half of consensus just six months ago. But this isn't just a case of overly optimistic expectations. StubHub has disappointed; as I wrote, in the months after the IPO, there were plenty of reasons for caution toward management. And of course those sell-side estimates didn't come out of thin air; they were informed at least in part by StubHub's IPO roadshow and other communications. There is definitely a sense that StubHub has underperformed relative to its own expectations. That sense was further supported by the fourth quarter earnings call, which included a strategic revamp around one supposed growth driver and delayed implementation of another. That said, particularly with the stock in the single-digits, it doesn't take that much of a change in sentiment or in execution for STUB to soar. That's true even with the stock up sharply following the first quarter report on Wednesday (shares are +17% in early trading as I write this). The quarter wasn't spectacular—but, at least for now, it seems like enough to change the case here. Valuation has come in, recent investments should bear fruit in coming quarters, and end markets seem reasonably healthy. Management still is a r...
人工智能需求强劲，股价暴涨 14% 核心要点 思科 CEO 查克・罗宾斯向美国消费者新闻与商业频道（CNBC）表示， 人工智能需求激增 ，正推动行业迈入 “网络超级周期”。 这家网络设备企业全年订单大幅超出预期，同时宣布裁员计划，股价应声大涨。 此前思科在 AI 赛道落后于各大超大规模云厂商；但随着 AI 行情向全产业链扩散，其股价已突破互联网泡沫时期历史高点，充分受益于 AI 热潮。 思科 CE...
人工智能需求强劲，股价暴涨 14% 核心要点 思科 CEO 查克・罗宾斯向美国消费者新闻与商业频道（CNBC）表示， 人工智能需求激增 ，正推动行业迈入 “网络超级周期”。 这家网络设备企业全年订单大幅超出预期，同时宣布裁员计划，股价应声大涨。 此前思科在 AI 赛道落后于各大超大规模云厂商；但随着 AI 行情向全产业链扩散，其股价已突破互联网泡沫时期历史高点，充分受益于 AI 热潮。 思科 CEO 查克・罗宾斯周四接受 CNBC 采访时表示，人工智能软硬件需求飙升，正在带动整个科技行业进入 “网络超级周期”。 公司本财年 AI 基础设施及超大规模云客户订单 大幅超出指引 ，并将相关业务营收预期从 50 亿美元上调至 90 亿美元，股价大涨 14%，创二十多年来最佳单日表现。 这家总部位于加州的网络设备制造商同时宣布，将裁员约 5% ，把资源重新聚焦于 AI 业务、自研芯片与光通信 等高增长板块。 罗宾斯表示：“市场变化速度极快，我们必须快速完成资源重新配置。顺带一提，不少受岗位调整影响的员工，反而能去到相关热门领域就职。” 在英伟达领衔的 AI 竞赛中，思科此前一直落后于各大超大规模科技巨头。但随着 AI 行情扩散至基础设施层，投资者看好其数据中心网络设备刚需价值，推动思科股价 突破互联网泡沫时期高点 。 罗宾斯称，AI 市场变化极快、不确定性高，很难锁定远期订单预期，因此公司主动放弃了部分与超大规模云厂商的项目。 他表示：“我们目前尚不能完全看清行业全貌，但基于合作关系、项目设计中标情况以及客户资本开支规划，我们对公司未来发展前景保持乐观。” 针对近期席卷金融市场、甚至登上白宫科技高管闭门会议议程的 Anthropic Mythos 大模型热潮，罗宾斯也作出点评：思科目前正与 每一位客户 探讨这款 AI 模型带来的影响。 思科已加入 Anthropic 的 “玻璃翼计划”。该项目上月向少数精选企业开放 Mythos 模型测试，重点评估其网络安全潜在风险。 业界担忧该模型可能被利用挖掘系统漏洞、带来安全隐患，倒逼企业加速网络安全升级改造。 罗宾斯强调：“企业必须保持灵活应变，随时做好快速调整布局的准备。” 责任编辑：郭明煜
Earnings Call Insights: Solo Brands (SBDS) Q1 2026 Management View John Larson (President, CEO & Director) said, "Our first quarter reflects continued measurable progress in our transformation" and framed the strategy as "a more focused, higher-quality business supported by a leaner cost structure, disciplined cash management and a clear path towards sustainable profitability." Larson highlighted ...
Earnings Call Insights: Solo Brands (SBDS) Q1 2026 Management View John Larson (President, CEO & Director) said, "Our first quarter reflects continued measurable progress in our transformation" and framed the strategy as "a more focused, higher-quality business supported by a leaner cost structure, disciplined cash management and a clear path towards sustainable profitability." Larson highlighted an exit-rate improvement: "Late in the quarter, we saw improving trends with that momentum continuing into April, where we delivered year-over-year sales growth for Solo brands," while also citing March launches: "the all-new Steelfire 22 Griddle and Summit 27 fire pit now in the top 5 selling products for DTC, while also improving our average order values." Larson also flagged a listing development: "We began trading on the OTCQB in early April under the same ticker SBDS, following the New York Stock Exchange delisting notice, which we are currently appealing." He added, "Importantly, this does not change our strategy." Laura Coffey (Chief Financial Officer) detailed cost and tariff actions: "In March, we completed a meaningful reduction in force and implemented compensation adjustments across the company," adding, "These actions are expected to generate approximately $8 million in annualized payroll savings or closer to $10 million on a fully burdened basis." She also said distribution/fulfillment changes are "expected to generate approximately $3.5 million in annual savings once fully implemented later this year." Coffey said the company is pursuing tariff recoveries: "we have filed our refund claims" and "began receiving cash refunds with $1.5 million received to date and expect a total refund of approximately $10 million for the year," while noting accounting treatment: "refunds are recorded as a reduction to COGS or inventory upon cash receipt." Outlook Larson stated, "Based on this momentum, we are reaffirming our full year 2026 outlook." Management reiterated a pric...
watch now VIDEO 4:27 04:27 Treasury Secretary Scott Bessent: U.S. can hold AI talks with China because ‘we are in the lead' Squawk Box China will use its influence in Iran to help reopen the Strait of Hormuz, U.S. Treasury Secretary Scott Bessent told CNBC in an interview on Thursday. "It's very much in their interest to get the strait reopened," Bessent told CNBC's Joe Kernen. "I think they will ...
watch now VIDEO 4:27 04:27 Treasury Secretary Scott Bessent: U.S. can hold AI talks with China because ‘we are in the lead' Squawk Box China will use its influence in Iran to help reopen the Strait of Hormuz, U.S. Treasury Secretary Scott Bessent told CNBC in an interview on Thursday. "It's very much in their interest to get the strait reopened," Bessent told CNBC's Joe Kernen. "I think they will be working behind the scenes to the extent anyone has any say over the Iranian leadership." China is the largest crude oil importer in the world. About 10% of its imports came from Iran and more than half came from the the Middle East in 2024, according to the U.S. Energy Information Administration . Nearly all of Iran's crude oil exports go to China, the Treasury Secretary said. "China has a much bigger interest in reopening the strait than the U.S. does," Bessent told CNBC. President Donald Trump held talks with President Xi Jinping during a two-day summit in Beijing on Thursday. A White House official said the leaders agreed Hormuz needs to reopen. "The two sides agreed that the Strait of Hormuz must remain open to support the free flow of energy," the White House official said. "President Xi also made clear China's opposition to the militarization of the Strait and any effort to charge a toll for its use." Iran has blockaded the strait since early March in response to U.S. and Israeli airstrikes that killed many of its leaders, including its head of state Ayatollah Ali Khamenei. The blockade has cut off Persian Gulf oil exports to the global market, triggering the biggest supply disruption in history. Some 20% of the world's crude oil transited through the strait prior to the war. Tehran is now claiming control over the narrow sea lane, which has been a key sticking point in stalemated peace talks with the U.S. It has reportedly sought to implement a toll system for ships to cross Hormuz. Chinese state media reports, however, did not specifically mention Hormuz as a top...
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. (Source: Bloomberg)
Mortgage rates in the US were little changed even as the escalating energy crisis drives inflation higher. The average rate for 30-year fixed loans slipped to 6.36% from 6.37% last week. A year ago, it was 6.81%. With the key home-selling season underway, consumers were bracing for higher financing costs. But rates stayed roughly flat despite inflation indicators this week signaling a likely incre...
Mortgage rates in the US were little changed even as the escalating energy crisis drives inflation higher. The average rate for 30-year fixed loans slipped to 6.36% from 6.37% last week. A year ago, it was 6.81%. With the key home-selling season underway, consumers were bracing for higher financing costs. But rates stayed roughly flat despite inflation indicators this week signaling a likely increase. Inflation accelerated in April on higher gasoline and grocery prices, government data showed this week, boosting expectations that the Federal Reserve will raise interest rates. Read More: Inflation Resurgence Squeezes US Voters as Gas, Food Prices Rise “It all goes back to the war and how long it goes for,” said Melissa Cohn , regional vice president of William Raveis Mortgage. “The fact that there’s no end in sight at the moment has a negative impact on the markets.” Even so, borrowing costs remain below year-earlier levels, easing affordability concerns for buyers and potentially making it easier for homeowners to sell, even if they’ve locked in lower rates on their current mortgages. While the peak sales season got off to a slow start, the median home price rose 2.4% in April, the largest annual gain since March 2025, according to Redfin . At the same time, pending sales reached a 2023 high and active listings jumped, suggesting sellers are returning. By historical standards, the housing market remains weak, and the ups and downs of rates may undermine the recent momentum as the conflict in the Middle East shows little signs of easing. At the current 30-year average, borrowers with a $1 million loan would pay about $6,229 a month, not including insurance and taxes. That’s up from $5,983 in late February when rates briefly dipped below 6%, right before the US-Israeli bombing campaign began.
JD.com (JD) shares broke out to a fresh 2026 high on Wednesday. That opens the door for a potentially higher run, after reporting first-quarter 2026 earnings that exceeded analyst expectations. The stock’s 20-day moving average has renewed its upward trend, after creating a brief base. The 200-day moving average turned...
JD.com (JD) shares broke out to a fresh 2026 high on Wednesday. That opens the door for a potentially higher run, after reporting first-quarter 2026 earnings that exceeded analyst expectations. The stock’s 20-day moving average has renewed its upward trend, after creating a brief base. The 200-day moving average turned...
Chinese President Xi Jinping opposes charging a toll in the Strait of Hormuz, a White House official said, in an apparent reference to Iran’s effort to monetize its control of the waterway where roughly a fifth of the world’s oil and liquefied natural gas normally transit. Xi talked about that and the potential purchase of more US oil at a meeting with President Donald Trump in Beijing today, the ...
Chinese President Xi Jinping opposes charging a toll in the Strait of Hormuz, a White House official said, in an apparent reference to Iran’s effort to monetize its control of the waterway where roughly a fifth of the world’s oil and liquefied natural gas normally transit. Xi talked about that and the potential purchase of more US oil at a meeting with President Donald Trump in Beijing today, the official said. China’s readout didn’t include energy in the list of topics the two presidents discussed, although it did say the pair talked about the Middle East. US efforts to end the war with Iran were dealt a setback after a commercial vessel was apparently seized by unauthorized personnel near the United Arab Emirates, adding to uncertainty over control of the Hormuz strait. The ship, whose identity wasn’t disclosed, was taken 38 nautical miles off the UAE coast and was bound for the Islamic Republic, the UK Maritime Trade Operations said today. Separately, India condemned an attack on one of its vessels in the Gulf of Oman, which sunk after it was set ablaze, calling the incident “unacceptable.” Iran will allow a number of Chinese vessels to transit the strait following discussions with Beijing’s foreign ministry, the semi-official Fars news agency reported. — Zoltan Simon What You’ll Need to Know Today Pressure grew on Keir Starmer to resign after his health secretary quit to challenge the UK prime minister for his job. Wes Streeting’s departure raises the prospect of an imminent leadership contest, where Starmer will have to fend off rivals like the 43-year-old former cabinet member. Starmer’s former No. 2, Angela Rayner, indicated today that she was also preparing for a bid to lead the governing Labour Party after announcing she had been cleared by a tax probe. The market reaction was muted in the face of potential political uncertainty, but read here why that’s a space to watch. Kushner Disappoints Mideast Clients Who Spent Millions Seeking Sway Qatar, Saudi Arabi...
tobiasjo/E+ via Getty Images Introduction At our Conservative Income Portfolio service, I focus almost 100% on undervalued preferred stocks, baby bonds and traditional bonds. With fixed-income investments we have generated returns that are much better than common stock average returns with much more safety, so I find little reason to invest in common stocks. But I think RWAY presents the potential...
tobiasjo/E+ via Getty Images Introduction At our Conservative Income Portfolio service, I focus almost 100% on undervalued preferred stocks, baby bonds and traditional bonds. With fixed-income investments we have generated returns that are much better than common stock average returns with much more safety, so I find little reason to invest in common stocks. But I think RWAY presents the potential of very big returns and so I have made an unusual investment in a common stock and I thought I would write about. Runway Growth RWAY Website Runway Growth ( RWAY ) is a BDC (business development company). A good number of BDCs have sold off quite a bit in recent months. Because of AI, some believe that it will make other software products obsolete or at least harm their sales, and fear has gripped a number of BDCs that have loans to software companies. But none has been beaten down like RWAY. I researched the sector and believe that RWAY is the most undervalued BDC. With a $1.32 annual dividend and a current stripped price of $6.20 the yield on RWAY is 21.3%. The current price is $6.52, but with 32 cents in accrued dividends, that makes the stripped price $6.20. RWAY goes ex-dividend 33 cents on May 18th. But we are not yield chasers here, and this is certainly not enough of a reason to buy it. We only buy undervalued companies and focus on total return rather than dividend yield. According to its most recent press release , RWAY’s book value (NAV) is $12.13. So the discount to NAV is about 49%. So I have taken a position in RWAY, at least a starter position, and thought I would share my research for those who might be interested in this kind of investment. With such a high yield of 21.30%, we can make money even if RWAY has not hit bottom in terms of price, as the dividend is currently at $1.32 per year (33 cents per quarter). And if the price does continue lower, providing an even larger discount to NAV, I will likely add to my position. Besides trading at a huge discoun...