sommart/iStock via Getty Images Introduction The world's largest home improvement retailer in terms of net sales - The Home Depot, Inc. ( HD ) - released its results for the first quarter of fiscal 2026 yesterday. The Home Depot is one of the long-term holdings in my broadly diversified portfolio, and I've written about it several times here on Seeking Alpha. In my last article , I compared HD to ...
sommart/iStock via Getty Images Introduction The world's largest home improvement retailer in terms of net sales - The Home Depot, Inc. ( HD ) - released its results for the first quarter of fiscal 2026 yesterday. The Home Depot is one of the long-term holdings in my broadly diversified portfolio, and I've written about it several times here on Seeking Alpha. In my last article , I compared HD to its smaller competitor, Lowe's Companies, Inc. ( LOW ), and explained why I was considering shifting (part of) my HD stock position into LOW. In this update, I will take a fresh look at The Home Depot based on yesterday's earnings report, but also from a longer-term perspective. Given that HD stock has significantly underperformed the broader market in recent months, I will also review the company's valuation. Without giving too much away in the introduction: In my view, selling against the backdrop of well-understood macroeconomic headwinds makes little sense. Instead, The Home Depot, as a fundamentally well-managed market leader, generally qualifies as a long-term position that I build gradually by adding to it during periods of weakness - provided, of course, that these are not company-specific but rather attributable to external factors. The Home Depot Q1 FY2026 Earnings: The Great Stagnation Or A Compelling Entry For Long-Term Investors? The Home Depot reported adjusted earnings per share ( EPS ) of $3.43 for the first quarter of fiscal 2026, in line with the latest consensus. Net sales of $41.8 billion were also in line with consensus, but rose by nearly 5% compared to the same period last year. Comparable sales continue to trend positively, coming in at +0.6% in the first quarter, which again represents an improvement of 20 basis points over the prior quarter. Nevertheless, organic sales growth remains modest from both a short-term (Figure 1) and a longer-term perspective (Figure 2). Clearly, consumers remain reluctant due to comparatively high mortgage rates, inflat...
NYSE issues a pre-market daily advisory direct from the trading floor. NEW YORK, May 20, 2026 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. Lance Glinn delivers the pre-market update on May 20th The S&P 500 is 2.2% from its record high leadi...
NYSE issues a pre-market daily advisory direct from the trading floor. NEW YORK, May 20, 2026 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. Lance Glinn delivers the pre-market update on May 20th The S&P 500 is 2.2% from its record high leading into Wednesday's session before Nvidia reports earnings this afternoon. Shares of investment bank Lincoln International (NYSE: LCLN) will debut for trade on the NYSE after its IPO. Edelman Smithfield will host its 2026 investor outlook day today at the New York Stock Exchange. Opening Bell Lincoln International (NYSE: LCLN) celebrates its IPO Closing Bell Timken (NYSE: TKR) celebrates its Investor Day and unveiling of its strategy and 2028 financial targets For market insights, IPO activity, and today's opening bell, download the NYSE TV App: TV.NYSE.com Bread Financial celebrated its listing anniversary. NYSE Logo Video - https://mma.prnewswire.com/media/2984307/NYSE_May_20_Market_Update.mp4 Cision View original content:https://www.prnewswire.com/apac/news-releases/nyse-content-update-lincoln-international-valued-at-2-billion-after-420-million-ipo-302777705.html
The U.S. inflation print for April 2026 came in at 3.8%, and that is still well above the Federal Reserve’s long-term 2% target. That means one-half of the Fed’s dual mandate, price stability, alongside maximum employment, still has not been achieved. A big part of the latest inflation spike came from the oil shock triggered ... There’s a Bond ETF That Resets Its Income for Inflation Every Six Mon...
The U.S. inflation print for April 2026 came in at 3.8%, and that is still well above the Federal Reserve’s long-term 2% target. That means one-half of the Fed’s dual mandate, price stability, alongside maximum employment, still has not been achieved. A big part of the latest inflation spike came from the oil shock triggered ... There’s a Bond ETF That Resets Its Income for Inflation Every Six Months. Almost None of Your Friends Own It.
pingingz/iStock via Getty Images Bitdeer ( BTDR ) is a Bitcoin miner (turned AI cloud provider) that has grown at an unprecedented pace since its founding in 2021. Results for the first fiscal quarter of FY26 were released last week Thursday. On going through the Q1 results , I find that Bitdeer’s vertical integration thesis remains valid, and with each quarter that passes, operational metrics sho...
pingingz/iStock via Getty Images Bitdeer ( BTDR ) is a Bitcoin miner (turned AI cloud provider) that has grown at an unprecedented pace since its founding in 2021. Results for the first fiscal quarter of FY26 were released last week Thursday. On going through the Q1 results , I find that Bitdeer’s vertical integration thesis remains valid, and with each quarter that passes, operational metrics show real growth that have been directly unlocked by the company’s vertical integration strategy. Last week's results showed some decline in financial numbers (which were mostly non-cash, and accounting-driven misses on the headline), but most of the non-cash charges that influenced key lines in the earnings were predictable for investors who follow Bitdeer closely, mainly because of the aggressive ramp of hashrate since the start of FY25 and the adoption of U.S. GAAP reporting. In the Q4 and full year FY25 earnings call released back in February, management had earlier mentioned this transition to GAAP accounting to officially take effect beginning in Q1 2026. Bitdeer - An Analysis of Q1 2026 Beyond the Headline Bitdeer's Q1 included both the good and the ugly (on the surface). Starting with the ugly, which made most of the Q1 headline, is the $159.5 million GAAP net loss reported against a $105.3 million net profit a year ago. Then the negative gross margin of -20.7%, which translates to $39 million gross loss, and adds more fuel to the bearish interpretation of the results. Depreciation and SBC led to gross margin compression (Bitdeer Q1 earnings report) The decline in gross income was largely driven by electricity costs in self-mining operations and the depreciation of previously deployed mining hardware, alongside stock-based compensation tied to self-mining activities. Management seems to have adopted a more aggressive depreciation assumptions especially with the launch of the SEALMINER A4 machines last month. Top line and adjusted EBITDA (Bitdeer Q1 earnings report ) On...
Incyte ( INCY ) and Genesis Molecular AI announced on Wednesday that they are expanding their AI drug discovery partnership to speed up new small-molecule medicines development via Genesis’ GEMS platform. As part of the deal, Incyte will share its proprietary experimental data to help train Genesis’ AI models for better molecule and protein prediction. Genesis will receive a total of $120M, includ...
Incyte ( INCY ) and Genesis Molecular AI announced on Wednesday that they are expanding their AI drug discovery partnership to speed up new small-molecule medicines development via Genesis’ GEMS platform. As part of the deal, Incyte will share its proprietary experimental data to help train Genesis’ AI models for better molecule and protein prediction. Genesis will receive a total of $120M, including $80M in cash upfront and $40M in equity investment, plus ongoing research funding for AI compute and model training. The deal adds at least 5 new drug targets, with Incyte getting exclusive rights to develop and commercialize any resulting drug products. Genesis can earn up to $232M per program in milestones, with total potential value above $1B+, plus additional multi-billion-dollar upside and royalties on future approved drugs. Source: Press Release More on Incyte Incyte Corporation (INCY) Presents at RBC Capital Markets Global Healthcare Conference 2026 Transcript Incyte Corporation (INCY) Presents at Bank of America Global Healthcare Conference 2026 Prepared Remarks Transcript Incyte: Strong Business, But Risks Remain Incyte outlines $4.77B-$4.94B 2026 net sales while preparing four launches over 12 months Incyte taps Zimmer Biomet's Suketu Upadhyay as CFO
The price of oil is a watch item due to the ongoing conflict in the Persian Gulf and the closure of the Strait of Hormuz. Prices have been extremely volatile, spiking back above $100 per barrel as of May 20. While short-term traders with impeccable timing are speculating on every piece of newsflow pertaining to an imminent "deal" or a forthcoming escalation in the conflict, there are critically im...
The price of oil is a watch item due to the ongoing conflict in the Persian Gulf and the closure of the Strait of Hormuz. Prices have been extremely volatile, spiking back above $100 per barrel as of May 20. While short-term traders with impeccable timing are speculating on every piece of newsflow pertaining to an imminent "deal" or a forthcoming escalation in the conflict, there are critically important considerations for long-term investors, too. One of them is the possibility of higher-for-longer oil prices. Here's why that's a real risk. What really matters with oil Short-term fluctuations aren't anything new to the commodity markets. They occur frequently and are often forgotten within a few months. However, what really matters is a sustained move in oil prices, particularly if it's due to a structural issue. While oil futures markets continue to price in a relatively quick normalization, and many companies are taking a "wait and see" approach, the price of oil has remained elevated since March, and a resolution to the conflict is no closer to fruition. A resolution is likely, but what resolution? That said, a resolution is the most likely outcome, not least as it suits almost everyone's interests. For example, U.S. consumers and businesses want lower energy prices, as do European consumers and businesses. Many Asian countries rely heavily on energy passing through the Strait, and Gulf countries (including Iran) rely on selling energy for income. A reopening of the Strait of Hormuz could result in relatively high oil prices However, there's no guarantee that even a resolution and reopening of the strait will result in a significant drop in oil prices. For example, it will take years to repair energy infrastructure damaged in the conflict. Moreover, it's not clear how willing insurers will be to support shipping through the strait, or what premiums they will demand for it. There's also a question of the risks associated with investing in energy infrastructure in...
(RTTNews) - Grab Holdings Ltd. (GRAB), on Wednesday announced plans to consolidate PT Super Bank Indonesia Tbk. Singtel Alpha Investments Pte. Ltd. will transfer its stake in Superbank to GXS Bank Pte. Ltd., Grab's digital banking subsidiary and joint venture with Singapore Telecommunications Ltd. Upon completion of the transaction, expected in May 2026, Grab's combined direct and indirect stake i...
(RTTNews) - Grab Holdings Ltd. (GRAB), on Wednesday announced plans to consolidate PT Super Bank Indonesia Tbk. Singtel Alpha Investments Pte. Ltd. will transfer its stake in Superbank to GXS Bank Pte. Ltd., Grab's digital banking subsidiary and joint venture with Singapore Telecommunications Ltd. Upon completion of the transaction, expected in May 2026, Grab's combined direct and indirect stake in Superbank will exceed 50%, making Superbank a subsidiary of Grab. The company said Superbank's financial results will be consolidated into Grab's financial services segment beginning May 2026. Superbank serves more than 6 million customers in Indonesia and reported its first full-year profit in fiscal 2025. As of April 2026, Superbank reported 72% year-over-year asset growth to IDR 24 trillion and 84% growth in net interest income. Grab said it will provide updated group financial guidance during its second-quarter 2026earnings callin August 2026. In the pre-market trading, Grab is 0.57% higher at $3.5199 on the Nasdaq. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
domoskanonos/iStock via Getty Images Investment Thesis I'm downgrading my buy to a hold recommendation on assets tracking the main American indices. This article is part of my weekly series started in November 2024. Now I'll share some graphs to support my new rating as the risk-reward ratio became tight. Context When I was preparing this article, some graphs made me think deeply about the current...
domoskanonos/iStock via Getty Images Investment Thesis I'm downgrading my buy to a hold recommendation on assets tracking the main American indices. This article is part of my weekly series started in November 2024. Now I'll share some graphs to support my new rating as the risk-reward ratio became tight. Context When I was preparing this article, some graphs made me think deeply about the current market. The first graph compares the actual trajectory of CPI (impacted by Iran War) with the 70s. In that time Paul Volcker raised interest rates to 20% to bring inflation down, causing a big world recession. Despite the coincidence we can't compare the current economy with the 70s. In that time OPEC had much more power , globalization was in an early stage and productivity was much smaller than now. US Inflation Comparison (informationist) At the current moment the S&P 500 is trading with less than 60% of its stocks trading above the 50- and 200-day moving averages. Another interesting graph shows that this behavior just happened sometimes before the dot com bubble. S&P 500 Since 1996 (Fidelity) As I argued in other articles, at the current moment, the companies have stronger balances than those companes in the dot-com bubble. Nowadays the big techs also have broad global diversification in their revenues, which partially mitigates the concentration risk in the S&P 500. Coincidentally, since May 19, 2025, I have defended an optimistic view on American assets every week (S&P 500 rises 24% since then), but new vectors appeared supporting a more cautious approach, so I will show first the glass half-empty view. S&P 500 (SA) The glass half-empty Last CPI and Core CPI measures came above expectations, especially CPI that rose to 3.8% YoY, the highest since 2023. CPI and Core CPI (Terminal) As a result, yields of US treasuries are growing, and this increases the opportunity cost to buy stocks. US 10 Year Treasury Yields (Trading Economics) Another risk comes from the market ex...
北美足球媒体巨头Men in Blazers与 Visa 近日宣布合作推出“球迷城市指南”，旨在帮助今夏涌入美加13座城市的数百万球迷发现地道的足球文化聚集地，同时为当地小型商家引流。 超2.5万球迷推荐，覆盖13城 该指南名为“Men in Blazers城市指南，Visa呈献”，是专为今夏及以后旅行者打造的“球迷驱动型旅行伴侣”。指南基于一项全国性调查中收集的超2.5万条球迷推荐，精选出每座城...
北美足球媒体巨头Men in Blazers与 Visa 近日宣布合作推出“球迷城市指南”，旨在帮助今夏涌入美加13座城市的数百万球迷发现地道的足球文化聚集地，同时为当地小型商家引流。 超2.5万球迷推荐，覆盖13城 该指南名为“Men in Blazers城市指南，Visa呈献”，是专为今夏及以后旅行者打造的“球迷驱动型旅行伴侣”。指南基于一项全国性调查中收集的超2.5万条球迷推荐，精选出每座城市25个以上值得探访的地点，涵盖四大类别。首期指南覆盖美国和加拿大的13座城市。Men in Blazers创始人Roger Bennett表示，足球的生命力远超球场，团队希望承担挖掘本地宝藏地点的重任，让旅行者专注于体验本身。通过与Visa合作，他们得以放大那些本地文化地标的声音。 契合Visa支持小商家战略 此次合作建立在Visa此前推出的“Visa & Main”平台基础上。该平台旨在通过三大支柱，即商业资本、商业连接和商业必备，解决小商家面临的最紧迫挑战。Visa北美首席营销官Kyndra Russell指出，该计划的本质是利用当下重大时刻，将球迷引向塑造城市特色的小商家和本地机构。 多媒体内容联动，迎接足球盛事 该指南将作为全新旅行内容平台“Traveling Support”的旗舰项目推出。此外，Men in Blazers还将发布一系列在球迷推荐地点拍摄的短视频，内容将出现在其社交媒体频道和数字平台上。此前，Visa已宣布将作为2026年FIFA世界杯的官方支付技术合作伙伴，并推出“Tap In”全球营销活动，通过各类促销将世界杯的热情带到所有三个主办国。 责任编辑：张俊 SF065
More than £52m in public money earmarked for social housing is at risk after the partial collapse of one of the England’s fastest-growing housing providers. Two of the investment companies run by the Heylo Housing group, which is backed by the asset managers BlackRock, have gone into administration, leaving the government regulator scrambling to find a rescue deal to protect taxpayers’ money and p...
More than £52m in public money earmarked for social housing is at risk after the partial collapse of one of the England’s fastest-growing housing providers. Two of the investment companies run by the Heylo Housing group, which is backed by the asset managers BlackRock, have gone into administration, leaving the government regulator scrambling to find a rescue deal to protect taxpayers’ money and prevent 3,500 social homes switching to the private sector. The saga has exposed serious flaws in a deregulation of housing conducted by the previousgovernment and has raised questions about attracting new investors into social housing, and giving public money to for-profit companies. It has also set an unprecedented challenge for the Regulator of Social Housing (RSH) which oversees the landlords of 2.9m social homes, and risks tarnishing its record of never having lost a single property or any public money to a financial default. One of the companies, or investment pods, in the Heylo group, went into administration owing £46.46m in unsecured credit to Homes England – the government agency that allocates public money for social housing. The other company owes Homes England £6.21m. Homes England has estimated its total grant exposure is nearer £43m. This was granted from 2018 to 2023 in its shared ownership affordable homes programme under which residents could buy a partial share of the homes and pay rent on the remaining share. This grant is typically recycled when it is paid back to provide more social homes, and could help fund about 500 new homes for social rent, but it would be lost if an insufficient bid is made for the stricken companies. The administrators, PWC, have assured about 3,500 residents in more than 100 council areas they will not lose their homes and should continue to pay their mortgage and rent as usual. The regulator is hoping the homes can stay in the social housing sector, if it is able to persuade another regulated landlord to buy the stock, similar ...
Arsenal will reward Mikel Arteta for ending Arsenal’s 22-year wait to be champions by offering him a lucrative new contract that will cement the Spaniard’s status as one of the best-paid managers in the world. The club are also well advanced with plans to strengthen his squad. Talks over extending Arteta’s deal beyond next summer were put on hold while Arsenal battled it out with Manchester City i...
Arsenal will reward Mikel Arteta for ending Arsenal’s 22-year wait to be champions by offering him a lucrative new contract that will cement the Spaniard’s status as one of the best-paid managers in the world. The club are also well advanced with plans to strengthen his squad. Talks over extending Arteta’s deal beyond next summer were put on hold while Arsenal battled it out with Manchester City in the Premier League, although insiders insist there was an expectation he would have stayed even if the season had ended without a trophy. The 44-year-old has become the second-youngest manager to win the Premier League, after José Mourinho with Chelsea in 2004, and matched Kenny Dalglish’s achievement with Liverpool in 1990 in making a team top-flight champions his first senior management job. Arteta has transformed Arsenal since he was appointed in December 2019 and it is understood his new deal is likely to reflect his achievements. His contract is believed to be worth about £10m a season plus a £5m bonus for reaching the Champions League but Arteta will be offered a large salary increase that some sources have predicted could come close to matching the Atlético Madrid head coach Diego Simeone’s wage. Simeone is thought to be the world’s best-paid manager, earning a reported €30m (£26m) a year. Pep Guardiola is paid a reported £20m a year by Manchester City. Arteta will become the longest-serving manager in England’s top four divisions when Guardiola steps down after Sunday’s final Premier League game. Arteta, the eighth manager to lead Arsenal to the title and first since Arsène Wenger in 2004, will resume talks after next Saturday’s Champions League final against Paris Saint-Germain. Arteta has been heavily involved in recruitment plans with the sporting director, Andrea Berta. The co-chairs, Stan and Josh Kroenke, promised in their programme for Monday’s win over Burnley that “there will be no standing still when the season ends”. It is understood there is unlikely t...