Klaus Vedfelt/DigitalVision via Getty Images Performance The portfolio underperformed the MSCI ACWI index (in US dollar terms) over the quarter. Despite portfolio holdings generally delivering robust results, performance was hampered by two trends in the market. First, asset light business models experienced a broad sell-off due to concerns over AI disruption; and second, rising bond yields led to...
Klaus Vedfelt/DigitalVision via Getty Images Performance The portfolio underperformed the MSCI ACWI index (in US dollar terms) over the quarter. Despite portfolio holdings generally delivering robust results, performance was hampered by two trends in the market. First, asset light business models experienced a broad sell-off due to concerns over AI disruption; and second, rising bond yields led to a de-rating of quality and growth stocks. The portfolio's lack of exposure to Energy, which was the top performing sector, was an additional headwind. At a stock level, concerns over AI disrupting business models particularly impacted three sectors: Industrials, Financials and Information Technology (IT). Within Industrials, the portfolio holds companies offering services, such as credit rating bureau Experian ( EXPGF ), while investors sought out heavy asset, low obsolescence ('HALO') stocks in industries that are largely outside of the focus of the strategy. Similarly, in Financials and Information Technology, software based service providers – such as electronic payments provider Adyen and software system integrator Tyler Technologies ( TYL )– were de-rated along with the broader software sector. Health Care holdings also came under pressure as the rise in bond yields led to a de-rating of growth oriented companies, such as Intuitive Surgical ( ISRG ) (despite it delivering strong earnings). While not a significant contributor to relative returns, the underweight position in Real Estate was positive, with real estate investment trusts such as Ventas ( VTR ) performing well. Market dynamics have been unfavorable for the portfolio, yet the drivers of growth, such as innovation in healthcare, provision of financial services, skills training and equitable connectivity, remain intact. Market overview Global equity markets finished the period lower despite a strong start to the year, reflecting a quarter of two distinct halves. Early support from solid corporate earnings, fal...
If it feels like growth stocks can’t continue their outperformance much longer, ignore that feeling. The Vanguard S&P 500 Growth Index Fund Exchange-Traded Fund, home to companies with high sales growth including Nvidia Advanced Micro Devices Microsoft and Eli Lilly is up 13% in the past month. A couple of factors have driven the performance of the growth stocks.
If it feels like growth stocks can’t continue their outperformance much longer, ignore that feeling. The Vanguard S&P 500 Growth Index Fund Exchange-Traded Fund, home to companies with high sales growth including Nvidia Advanced Micro Devices Microsoft and Eli Lilly is up 13% in the past month. A couple of factors have driven the performance of the growth stocks.
(RTTNews) - Shares of Merck KGaA were gaining around 8 percent in German trading after the science and technology major on Wednesday lifted its fiscal 2026 guidance and maintained mid-term view, despite weak first-quarter results.
(RTTNews) - Shares of Merck KGaA were gaining around 8 percent in German trading after the science and technology major on Wednesday lifted its fiscal 2026 guidance and maintained mid-term view, despite weak first-quarter results.
Amazon.com Inc. said that it is expanding its "Amazon Now" service, offering delivery of groceries, household essentials and other items in 30 minutes or less across dozens of U.S. cities. In a company blog post, the e-commerce retailer said Amazon...
Amazon.com Inc. said that it is expanding its "Amazon Now" service, offering delivery of groceries, household essentials and other items in 30 minutes or less across dozens of U.S. cities. In a company blog post, the e-commerce retailer said Amazon...
Once upon a time, you bought software the way you bought a toaster. Walk into a store. Pick up a box. Hand over money. Take it home. Install the software and run it. The package was yours forever. This delivery method applied everywhere. Microsoft (NASDAQ: MSFT) Windows came in a box, and so did the Office suite. Adobe (NASDAQ: ADBE) Photoshop came in a box. The box contained floppy disks, then CD...
Once upon a time, you bought software the way you bought a toaster. Walk into a store. Pick up a box. Hand over money. Take it home. Install the software and run it. The package was yours forever. This delivery method applied everywhere. Microsoft (NASDAQ: MSFT) Windows came in a box, and so did the Office suite. Adobe (NASDAQ: ADBE) Photoshop came in a box. The box contained floppy disks, then CDs, then DVDs. Enterprise-class stuff like the Oracle (NYSE: ORCL) database may have come on a roll of magnetic tape in the 1980s. You also got a manual nobody read and a registration card nobody mailed. Whatever software you needed, you paid for it once. Then it was yours forever. Continue reading
The oil jetties at Iran’s Kharg Island were once again empty on Tuesday, curbing the nation’s ability to export crude, satellite images collected by Bloomberg show. It means that for a fourth consecutive period when satellites have captured what’s going on at the country’s main oil facility, no tankers have been spotted. It’s by far the longest stretch since the war began that the jetties have bee...
The oil jetties at Iran’s Kharg Island were once again empty on Tuesday, curbing the nation’s ability to export crude, satellite images collected by Bloomberg show. It means that for a fourth consecutive period when satellites have captured what’s going on at the country’s main oil facility, no tankers have been spotted. It’s by far the longest stretch since the war began that the jetties have been devoid of tankers. READ, Tuesday : Kharg Island Oil Jetties Empty in Possible Sign of Iran Strain The US is blockading ships from going to and from Iranian ports, something that will sooner or later mean the country runs out of tankers that can load. That, in turn, intensifies pressure on Tehran’s oil storage facilities and production. The images, observed from the European Union’s Sentinel 2 satellite system, are not captured daily. But prior to the latest snapshots, the jetties had only been empty in on two individual days since the war began.
TomasSereda/iStock via Getty Images Orla Mining ( ORLA ) up 5% pre-market Wednesday after Equinox Gold ( EQX ) announced it agreed to acquire the company in a deal that would create a North American senior gold producer with ~1.1M oz of expected annual gold production from six operating mines across Canada, the U.S., Mexico, and Nicaragua, and an $18.5B implied market capitalization. Under the ...
TomasSereda/iStock via Getty Images Orla Mining ( ORLA ) up 5% pre-market Wednesday after Equinox Gold ( EQX ) announced it agreed to acquire the company in a deal that would create a North American senior gold producer with ~1.1M oz of expected annual gold production from six operating mines across Canada, the U.S., Mexico, and Nicaragua, and an $18.5B implied market capitalization. Under the deal terms, Orla ( ORLA ) shareholders will receive one Equinox ( EQX ) common share and a nominal cash payment for each Orla common share owned; upon completion, existing Equinox ( EQX ) shareholders will own ~67% of the combined company, while Orla ( ORLA ) shareholders will hold the remaining 33%. Equinox ( EQX ) said the combined company has a clear near-term path to increase annual production by more than 800K oz of gold from a pipeline of advanced expansion and development projects in the U.S. and Mexico, with the organic growth expected to be funded from operating cash flow and available liquidity. Equinox ( EQX ) CEO Darren Hall will continue to lead the combined company, while Orla ( ORLA ) President and CEO Jason Simpson will join Equinox's leadership team as President; the new board will consist of 11 directors, with Chuck Jeannes as Chair, along with six directors from Equinox and four from Orla. More on Equinox Gold Equinox Gold Q1 2026 Earnings Call Transcript Equinox Gold: Down 29%, And I'm Buying The Growth Story Equinox Gold: The Market Still Underestimates Their Ramp-Up
Uncapped trio in squad for first New Zealand Test Crawley dropped; Ahmed and Bashir named as spinners Emilio Gay, James Rew and Sonny Baker are the three uncapped players in a 15-man England squad for the first Test against New Zealand next month. Ollie Robinson returns to the setup after a two-year absence. As part of the wash-up from the Ashes, England have a new selector in Marcus North – now c...
Uncapped trio in squad for first New Zealand Test Crawley dropped; Ahmed and Bashir named as spinners Emilio Gay, James Rew and Sonny Baker are the three uncapped players in a 15-man England squad for the first Test against New Zealand next month. Ollie Robinson returns to the setup after a two-year absence. As part of the wash-up from the Ashes, England have a new selector in Marcus North – now confirmed – and vowed to pay more attention to county form. Gay, averaging 92 under North at Durham this season, and Rew, 22 years old and having already scored 12 centuries for Somerset, fit the bill in this regard. Continue reading...
Female home owners report feeling stuck between men’s contradictory expectations – they are told to be independent, but not assume the breadwinner role When Tiffany Tate put the wheels in motion to buy her first home, it felt like a win – until a date’s response stopped her cold. “If you buy that house, what’s a guy going to do for you?” he said. It was just after their first date, and just before...
Female home owners report feeling stuck between men’s contradictory expectations – they are told to be independent, but not assume the breadwinner role When Tiffany Tate put the wheels in motion to buy her first home, it felt like a win – until a date’s response stopped her cold. “If you buy that house, what’s a guy going to do for you?” he said. It was just after their first date, and just before what would be their last. Continue reading...
Slot won the league in his first season but Liverpool’s title defence has been disappointing. Should he stay or go? By Opta Analyst The rare sound of boos rang out at Anfield after the final whistle on Saturday. Normally, that would be an extreme response to a 1-1 draw with Chelsea , but context is everything. The visitors went into the game on the back of six straight league defeats, looking vuln...
Slot won the league in his first season but Liverpool’s title defence has been disappointing. Should he stay or go? By Opta Analyst The rare sound of boos rang out at Anfield after the final whistle on Saturday. Normally, that would be an extreme response to a 1-1 draw with Chelsea , but context is everything. The visitors went into the game on the back of six straight league defeats, looking vulnerable and there for the taking. Not for the first time this season, though, Liverpool failed to add to a visiting opponent’s woes. Manchester United earned their first away win of the season at Anfield in October after picking up just one point from their first three league trips. Nottingham Forest also struggled early in the campaign, losing three and drawing two of their first five away games, before claiming a comprehensive 3-0 victory at Liverpool in November. Burnley had lost eight of their 10 away league games when they visited Anfield in January yet they earned a 1-1 draw . Continue reading...
She shot to fame as a teenager, but always felt like an outsider in Hollywood. Now she has started a podcast and written a memoir for women who find themselves at a standstill A few years ago, Jennie Garth was feeling lost. Her three daughters were growing up – her eldest had already left home – and Garth was bored and unfulfilled. In March 2023, she noted in her diary that potential acting jobs w...
She shot to fame as a teenager, but always felt like an outsider in Hollywood. Now she has started a podcast and written a memoir for women who find themselves at a standstill A few years ago, Jennie Garth was feeling lost. Her three daughters were growing up – her eldest had already left home – and Garth was bored and unfulfilled. In March 2023, she noted in her diary that potential acting jobs were “few and far between, if at all really”. She rarely heard from her agent, and she didn’t want to get in touch with him “just to hear how different the business has become, how they just aren’t looking for a woman my age, with my stereotyped abilities”. As an actor, and one who had been particularly typecast, she was used to rejection, she wrote, “but this is getting a little scary”. In the 90s, Garth had been a TV superstar. She was 18 when the teen drama Beverly Hills, 90210 came out, in which she played Kelly Taylor – rich and spoilt on the surface, traumatised underneath. Although she continued to work after it came to an end in 2000, not least on the show’s spin-offs, it must be hard to have hit your career high in your first job. More fulfilment came from other areas in Garth’s life – she loved motherhood – although she found the end of her marriage to her daughters’ father, the actor Peter Facinelli, so traumatic that she ended up in hospital after an accidental overdose and had a spell in rehab. Continue reading...
Demarcation of 410,000 hectares of territory is intended to protect the Amazonian community from farming, illegal mining and logging More than 25 years after the existence of one of the Amazon’s most vulnerable nomadic hunter-gatherer communities was confirmed, the Brazilian government has begun demarcating the Pardo River Kawahiva Indigenous territory , giving greater protection to the uncontacte...
Demarcation of 410,000 hectares of territory is intended to protect the Amazonian community from farming, illegal mining and logging More than 25 years after the existence of one of the Amazon’s most vulnerable nomadic hunter-gatherer communities was confirmed, the Brazilian government has begun demarcating the Pardo River Kawahiva Indigenous territory , giving greater protection to the uncontacted people. The demarcation of the 410,000-hectare (1m-acre) territorylocated between the states of Mato Grosso and Amazonas in north-west Brazil , was confirmed by the National Indigenous Peoples’ Foundation (Funai) last week. But the process remains fraught, with legal challenges from groups linked to the country’s agribusiness sector, and the forthcoming presidential election in October. Continue reading...
Homes at a new development in Fontana, California, US, on Saturday, May 9, 2026. Kyle Grillot | Bloomberg | Getty Images Homebuyers appear to be getting used to the new normal of higher mortgage rates, even the highest in over a month. Buyer demand for mortgages helped to push total mortgage application volume up 1.7% last week compared with the previous week, according to the Mortgage Bankers Ass...
Homes at a new development in Fontana, California, US, on Saturday, May 9, 2026. Kyle Grillot | Bloomberg | Getty Images Homebuyers appear to be getting used to the new normal of higher mortgage rates, even the highest in over a month. Buyer demand for mortgages helped to push total mortgage application volume up 1.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.46% from 6.45%, with points decreasing to 0.63 from 0.66, including the origination fee, for loans with a 20% down payment. Applications for a mortgage to purchase a home rose 4% for the week and were 7% higher than the same week one year ago. Buyer demand stalled at the start of the spring housing market, which coincided with the start of the war with Iran. "Potential homebuyers shrugged off the current economic and mortgage rate uncertainties and returned to the market," said Joel Kan, an MBA economist in a release. During a conference call on April home sales this week, the National Association of Realtors' chief economist, Lawrence Yun, said agents were reporting a surge in buyer demand in just the last few weeks. Get Property Play directly to your inbox CNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. Subscribe here to get access today . Applications to refinance a home loan fell 1% for the week and were 28% higher than the same week one year ago. "Refinance applications declined slightly, led by conventional and VA refinancings, and accounted for a little more than 40 percent of applications last week, the lowest share since July 2025," Kan added. Mortgage rates moved sharply higher to start this week in reaction to less optimistic news on a possible resolution to the Iran war, as well as a hotter-than-expected mo...
Arsenii Palivoda/iStock via Getty Images We upgrade HUYA ( HUYA ) to BUY from SELL and value the company at $3.93/share or 27% upside from the current level based on 20x forward earnings. HUYA reported 1Q26 with revenue largely in line with consensus, while EPS was ahead. Consolidated revenue growth +14.6% underpins that company’s ongoing strategic pivot into a game-related service provider, with ...
Arsenii Palivoda/iStock via Getty Images We upgrade HUYA ( HUYA ) to BUY from SELL and value the company at $3.93/share or 27% upside from the current level based on 20x forward earnings. HUYA reported 1Q26 with revenue largely in line with consensus, while EPS was ahead. Consolidated revenue growth +14.6% underpins that company’s ongoing strategic pivot into a game-related service provider, with legacy business decline less pronounced than before as it is starting to stabilize. The game-related service segment delivered an impressive 69% y/y growth to account for 36% of the total revenue. More importantly, gross margin saw a healthy uptick, which we believe underscores management’s execution on delivering high-quality earnings growth. We were bearish on the stock a year ago, and to a certain extent, we were right. (see: HUYA: Priced At Cash Is As Good As It Gets ) . Our core thesis back then was that HUYA was facing several challenges across its businesses. Notably, live streaming continues to see revenue decline due to a combination of macro and competitive challenges as viewers cut back on discretionary spending and streamers migrate to alternative platforms. More importantly, MAU growth was largely stagnant as its core audience was increasingly unwilling to spend. All these headwinds, when coupled with the lack of AAA titles and eSports events, underpin our bearish thesis. However, when the facts change, our thesis must change. Over the past several quarters, we have witnessed an impressive turnaround at HUYA as the company executed a massive strategic pivot that fundamentally changed its revenue mix, stabilized its legacy business, and aggressively returned capital to shareholders. We credit this turnaround to strong management execution, specifically its current CFO, Raymond Lei, an ex-Tencent veteran with both capital markets and operations pedigree. With the stock at 0.2x forward revenue and 17x forward earnings, we believe the current valuation is an attrac...
The Studio Display looks great next to a MacBook, but its aging display technology holds it back. | Photo by John Higgins / The Verge For the better part of 12 years, Apple owned the 5K monitor world - primarily because it made basically the only options. LG's 5K UltraFine was a solid, if bland choice, but many people bought a 27-inch iMac from 2014 for its 5K screen alone. Then in 2022, Apple fin...
The Studio Display looks great next to a MacBook, but its aging display technology holds it back. | Photo by John Higgins / The Verge For the better part of 12 years, Apple owned the 5K monitor world - primarily because it made basically the only options. LG's 5K UltraFine was a solid, if bland choice, but many people bought a 27-inch iMac from 2014 for its 5K screen alone. Then in 2022, Apple finally gave the people what they wanted by releasing the $1,599 Studio Display (which was essentially the iMac's screen as a separate monitor with a webcam and speakers) and removed the LG from its store . It wasn't until late 2024 that companies like BenQ and Asus finally began releasing their own 27-inch 5K monitors. And while the Studio Display was the best built and best looking … Read the full story at The Verge.
WAYNE, Pa., May 13, 2026 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX) (“Avalo”), a clinical stage biotechnology company fully dedicated to developing IL-1β-based treatments for immune-mediated inflammatory diseases, today announced business updates and first quarter 2026 financial results.
WAYNE, Pa., May 13, 2026 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX) (“Avalo”), a clinical stage biotechnology company fully dedicated to developing IL-1β-based treatments for immune-mediated inflammatory diseases, today announced business updates and first quarter 2026 financial results.