AndreyPopov/iStock via Getty Images Introduction Shares of Two Harbors Investment Corp. ( TWO ) have been on a roller coaster ride in 2026, first rising alongside UWM Holdings Corporation ( UWMC ) stock due to the 2.3328x merger exchange offer of UWMC into TWO shares, subsequently crashing as UWMC gave up gains following the start of the war in Iran, and most recently trading around $12.62/share a...
AndreyPopov/iStock via Getty Images Introduction Shares of Two Harbors Investment Corp. ( TWO ) have been on a roller coaster ride in 2026, first rising alongside UWM Holdings Corporation ( UWMC ) stock due to the 2.3328x merger exchange offer of UWMC into TWO shares, subsequently crashing as UWMC gave up gains following the start of the war in Iran, and most recently trading around $12.62/share as UWMC offered a cash consideration of $12.50/share for each TWO share , while keeping the original 2.3328x exchange ratio in place (which currently entails a value of around $7.77/share for TWO stock, hence it is not economically rational relative to the cash offer). In the meantime, CrossCountry Mortgage entered the bidding war, first starting with a $10.70/share offer as discussed in my previous TWO coverage , which was only recently increased to $12.00/share, all paid in cash. In light of recent events, my rating on TWO remains a Hold. My neutral investment thesis can be briefly summarized as: TWO share price, trading marginally above the latest $12.50/share offer by UWMC, does point to the potential of a further improvement by either UWMC or CrossCountry Mortgage. At the same time, the latest offer is already above the original consideration of $11.94/share (which was based on TWO's higher book value as of the end of 2025), likely indicating that the room for improvement is rather limited. TWO shares trade roughly 19% above Q1 2026 book value, arguably presenting sizable downside risks in the admittedly unlikely scenario where both UWMC and CrossCountry Mortgage deals fall apart. Revised UWMC proposal In the latest UWMC proposal, offering $12.50/share in cash, or 2.3328 shares of UWMC stock for each share of TWO, UWMC notes : Since our last proposal, the TWO Board first tried to convince you that $11.30 was better than $12.00, and when that tactic apparently failed, they cut another deal with CrossCountry that did the bare minimum on the headline cash figure. Your Boar...
Welcome to India Edition, Bloomberg’s daily dive into what’s moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I’m Menaka Doshi . If you didn’t receive this directly in your inbox, you can subscribe here , and share feedback with us here . Today, I look at the cost Reliance Industries pays to be a national champion, and my colleague Satviki Sanjay explains wh...
Welcome to India Edition, Bloomberg’s daily dive into what’s moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I’m Menaka Doshi . If you didn’t receive this directly in your inbox, you can subscribe here , and share feedback with us here . Today, I look at the cost Reliance Industries pays to be a national champion, and my colleague Satviki Sanjay explains why Torrent Pharma is leading rivals in generic weight-loss drugs. Jio IPO Rethink The past several months have underscored the cost of being a national champion for billionaire Mukesh Ambani. So far, it was Reliance Industries’ oil-to-chemicals business that bore the brunt of stormy geopolitical and trade winds. Now, its digital arm, Jio Platforms, may also have to do its part in supporting the rupee by reworking its planned IPO . The much-awaited initial public offering by the country’s largest wireless operator was initially planned to be a sell-down by existing shareholders. Over the years, Jio has attracted marquee investors ranging from Meta and Google to sovereign wealth funds such as Saudi Arabia’s Public Investment Fund and Abu Dhabi Investment Authority, as well as private equity firms including KKR. Their exit, however, risks exacerbating India’s growing foreign capital outflows , which have contributed to the rupee’s record weakness. The plan now appears to be for Jio to issue fresh shares and raise as much as $4 billion. The “objects of the issue” in its IPO filing will be closely watched for justification of this dilutive shift. The IPO rethink is the latest in a string of business decisions that appear shaped as much by national priorities as by commercial logic. In March, after the war in Iran shut India’s energy supplies from the Middle East, Reliance Industries had to join state-owned companies in maximizing LPG, or cooking gas, production in its refineries and redirecting gas from its Indian wells to priority industries. Last year, Ambani became collateral ...
Marvell (NASDAQ: MRVL) is becoming a bigger part of the AI infrastructure build-out, helped by growth in custom silicon, rising data center revenue, and a strategic partnership with Nvidia (NASDAQ: NVDA). The upside case is getting stronger, but the stock's huge rally raises a se
Marvell (NASDAQ: MRVL) is becoming a bigger part of the AI infrastructure build-out, helped by growth in custom silicon, rising data center revenue, and a strategic partnership with Nvidia (NASDAQ: NVDA). The upside case is getting stronger, but the stock's huge rally raises a se
sitox Plug Power ( PLUG ) up 10.8% pre-market Tuesday after reporting a Q1 loss but higher-than-expected revenues , with some analysts attributing the growth to large customers such as Amazon and Walmart. Plug's ( PLUG ) Q1 loss of $109M fell from a $180M loss in the year-earlier quarter, as sales improved to $163.5M from $134M a year ago, while Wall Street had forecast a $110M loss from sales of ...
sitox Plug Power ( PLUG ) up 10.8% pre-market Tuesday after reporting a Q1 loss but higher-than-expected revenues , with some analysts attributing the growth to large customers such as Amazon and Walmart. Plug's ( PLUG ) Q1 loss of $109M fell from a $180M loss in the year-earlier quarter, as sales improved to $163.5M from $134M a year ago, while Wall Street had forecast a $110M loss from sales of $140M, according to Bloomberg. "Electrolyzer revenue drove upside, and the multi-year Amazon and Walmart refresh cadence provides visibility for Material Handling," TD Cowen analyst Jeff Osborne said, maintaining his Hold rating but raising his stock price target to $3 from $2. Shares are up sharply after jumping 12.8% in regular trading on Monday, which Al Root of Barron's said could be due to investor positioning, since Plug ( PLUG ) is a popular short, with ~350M shares borrowed—some 25% of the stock available for trading—and short sellers "might not have wanted to take the chance that Plug said something that sends shares higher—like higher-than-expected sales." Plug ( PLUG ) CEO Jose Luis Crespo said the company's Q1 results "reflect strong commercial execution and continued progress improving the underlying economics of the business and position us to achieve our EBITDAS positive target in Q4 2026." More on Plug Power Plug Power Q1 2026 Earnings Call Transcript Plug Power's Inflection Point: From Cash Burn To Clean Energy Scale Plug Power: Some Progress But Major Headwinds Remain - Sell
XCF Global ( Nasdaq: SAFX ) on Tuesday said it had agreed to satisfy about $16.7 million in outstanding debt and property liens through the issuance of 37.03 million shares of Class A common stock to key stakeholder Encore DEC LLC. The renewable fuels company said the agreement, involving its subsidiary New Rise Renewables Reno LLC and Encore DEC, would reduce indebtedness and eliminate property l...
XCF Global ( Nasdaq: SAFX ) on Tuesday said it had agreed to satisfy about $16.7 million in outstanding debt and property liens through the issuance of 37.03 million shares of Class A common stock to key stakeholder Encore DEC LLC. The renewable fuels company said the agreement, involving its subsidiary New Rise Renewables Reno LLC and Encore DEC, would reduce indebtedness and eliminate property liens tied to the design and construction of its New Rise Renewables Reno facility. XCF said the shares would be issued at a conversion price of $0.451 each, based on a pricing formula tied to the company’s recent stock performance. The company said the transaction is intended to improve its balance sheet and financial flexibility as it focuses on operational execution and long-term growth. Source: Press Release More on XCF Global, Inc. XCF Global secures $10M funding to advance plant conversion, supports planned business combination XCF Global to merge with DevvStream, Southern Energy Seeking Alpha’s Quant Rating on XCF Global, Inc. Historical earnings data for XCF Global, Inc. Financial information for XCF Global, Inc.
tupungato Shares of Microsoft ( MSFT ) have staged a notable rebound in recent weeks, climbing more than 10% over the past month as investors rotate back into large-cap technology names. Microsoft stock currently trades around $412.66 per share, although the company remains down roughly 14.6% for the year despite the recent recovery. Technical traders are increasingly focused on signs that the sto...
tupungato Shares of Microsoft ( MSFT ) have staged a notable rebound in recent weeks, climbing more than 10% over the past month as investors rotate back into large-cap technology names. Microsoft stock currently trades around $412.66 per share, although the company remains down roughly 14.6% for the year despite the recent recovery. Technical traders are increasingly focused on signs that the stock may be stabilizing after its earlier pullback. Following a sharp rally in late April, Microsoft has spent the last several weeks consolidating in what some market participants describe as a potential bullish flag formation, a pattern often associated with pauses within broader upward trends. Analysts also note that the recent consolidation has developed above the company’s rising 50-day moving average, a level widely monitored by institutional investors to gauge intermediate-term momentum. In addition, shares have continued to hold above a previously established downtrend line, suggesting selling pressure may be easing. The recent move higher comes as broader enthusiasm surrounding artificial intelligence infrastructure spending and enterprise software demand continues supporting sentiment across the technology sector. More on markets Michael Burry issues new market warning as stocks push to record highs 'The S&P 500 is not a diversified index anymore,' Apollo’s Slok says S&P 500 to 8,000 this year? Nearly 50% of prediction market traders think so Trump gives the EU a July 4 deadline to finalize a trade deal and warns of higher tariffs Goldman Sachs flags Amazon and Alphabet for inflating S&P 500 earnings growth figures
Treasuries maintained their losses after a reading of the core consumer price index exceeded economists’ estimates, supporting wagers that the Federal Reserve will raise interest rates next year to control inflation. The declines on Tuesday left yields higher by about one basis point across maturities, with those on 30-year securities trading just below the key 5% level. Interest-rate swaps showed...
Treasuries maintained their losses after a reading of the core consumer price index exceeded economists’ estimates, supporting wagers that the Federal Reserve will raise interest rates next year to control inflation. The declines on Tuesday left yields higher by about one basis point across maturities, with those on 30-year securities trading just below the key 5% level. Interest-rate swaps showed traders priced in about 70% of a chance for a rate increase by April 2027. The consumer price index rose 3.8% from a year earlier, according to Bureau of Labor Statistics data, marking the fastest pace since 2023. The core CPI, which excludes food and energy, increased 0.4% from a month earlier and 2.8% from a year earlier.
Investing.com -- Memory chip stocks have posted significant gains over the past month, with Micron Technology (NASDAQ:MU) climbing 90%, Sandisk Corporation rising 82%, and SK hynix advancing 78% over the 30-day period.
Investing.com -- Memory chip stocks have posted significant gains over the past month, with Micron Technology (NASDAQ:MU) climbing 90%, Sandisk Corporation rising 82%, and SK hynix advancing 78% over the 30-day period.
Hormel Foods (NYSE: HRL) is not a name that generates excitement at dinner parties or in investment portfolios. That is, in a real sense, my entire thesis for why this stock could make you a millionaire over time. The stock trades near $20 a share, down roughly 47% over five years. The valuation hasn't been this low since the early 2010s. The brands this veteran company manages include Spam, Skipp...
Hormel Foods (NYSE: HRL) is not a name that generates excitement at dinner parties or in investment portfolios. That is, in a real sense, my entire thesis for why this stock could make you a millionaire over time. The stock trades near $20 a share, down roughly 47% over five years. The valuation hasn't been this low since the early 2010s. The brands this veteran company manages include Spam, Skippy, Planters, Jennie-O, Applegate, Justin's, and Hormel Black Label, a portfolio of proteins and snacks that occupy some of the stickiest positions in the American grocery aisle. These are habitual brands. The consumer who reaches for Skippy peanut butter does not comparison-shop. Neither does the one buying Spam for a recipe they have made for 30 years. The bear case on Hormel is real and worth naming first: Retail segment volumes have been soft, raw material costs ran hot through 2024 and 2025, and the company spent three years navigating commodity inflation that hit its protein-heavy cost structure harder than most packaged food peers . Continue reading
Investing.com -- Citi raised its price target on Broadcom to $500 per share in a note on Tuesday, reiterating a Buy rating on the chipmaker and calling it its top semiconductor pick for 2026, ahead of the company's fiscal second-quarter earnings due June 3.
Investing.com -- Citi raised its price target on Broadcom to $500 per share in a note on Tuesday, reiterating a Buy rating on the chipmaker and calling it its top semiconductor pick for 2026, ahead of the company's fiscal second-quarter earnings due June 3.
French electrical equipment distributor Rexel SA plans to make more bolt-on acquisitions in countries such the US and Canada to tap a boom in data centers and manufacturing, after announcing its 16th deal in North America since 2020. The Paris-based company on Tuesday unveiled a plan to buy Revere Electrical Supply, a US distributor specializing in industrial automation systems in the Midwest that...
French electrical equipment distributor Rexel SA plans to make more bolt-on acquisitions in countries such the US and Canada to tap a boom in data centers and manufacturing, after announcing its 16th deal in North America since 2020. The Paris-based company on Tuesday unveiled a plan to buy Revere Electrical Supply, a US distributor specializing in industrial automation systems in the Midwest that had about $330 million in sales last year. The value of the deal, Rexel’s second-biggest in North America since the 2021 acquisition of Mayer for an enterprise value of $456 million, wasn’t disclosed. For the expansion of Rexel’s core business, “our main target is North America, and the US notably, for the simple reason that we have a small market share,” Rexel Chief Executive Officer Guillaume Texier said in an interview. The company may seek to buy other businesses like Revere that benefit from technological “megatrends” such as solar power and telecommunications, not just in North America, as well as smaller companies that can pre-assemble equipment for clients, he said. Shares of Rexel have almost tripled over the past decade after activist investor Cevian Capital AB started building a stake in the company. Cevian has become the company’s top investor, with a 23% at the end of last year, according to the latest filing data compiled by Bloomberg. The stock has also benefited from an artificial intelligence-driven tech boom, and got a boost in 2024 when QXO Inc. made an unsolicited offer to buy Rexel for more than $9 billion, which was rejected at the time by the French company. Rexel, which strengthened its presence in several Western European countries and North America through deals in recent years, continues to plan acquisitions each year that typically add a combined €400 million ($470 million) to €600 million to its revenue, the CEO said. The US and Canada accounted for 46% of the group’s 2025 sales , which amounted to €19.4 billion, according to the latest annual ...
First Houthi Drones Sent On Israel Since Iran Ceasefire Took Effect In what appears to be the first Houthi attack out of Yemen since the broader Iran ceasefire came into place starting in early April, the Israel Defense Forces said a drone "launched from the east" was intercepted by the Israeli Air Force near the southernmost city of Eilat on Tuesday. The IDF further indicated it is believed to ha...
First Houthi Drones Sent On Israel Since Iran Ceasefire Took Effect In what appears to be the first Houthi attack out of Yemen since the broader Iran ceasefire came into place starting in early April, the Israel Defense Forces said a drone "launched from the east" was intercepted by the Israeli Air Force near the southernmost city of Eilat on Tuesday. The IDF further indicated it is believed to have been launched from Yemen, although the IDF is still investigating its origin, according to Israeli media reports . Israel's Channel 12 is citing that at least two drones were sent . EPA-EFE However, no sirens sounded, "according to protocol," the military said further. The Iran-allied Houthi rebels had launched several missiles and drones at Israel during the war, in support of the Iranian side. The Houthis also played a key role during the prior two-year Gaza war, during which time ballistic missiles targeted Israel on a weekly basis, and shipping and in the Red Sea was essentially halted due to the threat of Houthi attacks. The Shia military group further has demonstrated its ability to reach and disrupt several of Israel's airports, including the key international bub of Ben Gurion airport. Throughout Trump's Operation Epic Fury and Project Freedom the Houthis have surprisingly stayed relatively quiet and on the sidelines . But they hold a big card in alliance with Iran - the threat of again shuttering vital Red Sea shipping and seriously denting Suez Canal traffic. In the meantime, the close cooperation between Iran and the Houthis continues to be on display when it comes to weapons manufacturing and t ransfers : The Iranian-backed Houthis in Yemen continue to use Iranian components in drones , according to a new report. For instance, “external support remains a key factor in the Houthis’ ability to sustain operations,” notes Conflict Armament Research (CAR), which compiled the report. This is important as it illustrates how the Houthis continue to assemble advanced ...