Stocks in Asia were set to fall Tuesday as a surge in oil prices dragged US equities and bonds lower, with escalating tensions around the Strait of Hormuz raising fresh fears about high energy prices and global inflation. Equity-index futures in Australia, South Korea and Hong Kong all pointed to losses at the open, while signaling a modest gain in Japan. US stock futures were steady in early Tues...
Stocks in Asia were set to fall Tuesday as a surge in oil prices dragged US equities and bonds lower, with escalating tensions around the Strait of Hormuz raising fresh fears about high energy prices and global inflation. Equity-index futures in Australia, South Korea and Hong Kong all pointed to losses at the open, while signaling a modest gain in Japan. US stock futures were steady in early Tuesday trading after benchmarks pulled back from record highs. Brent crude jumped more than 5% to above $114 a barrel on Monday as the US and Iran exchanged fire in the Persian Gulf, drawing in the United Arab Emirates. With oil near a four-year peak, a selloff in Treasuries pushed 30-year yields above 5%. West Texas Intermediate crude opened lower early Tuesday, holding the bulk of Monday’s gains. The US fought off Iran’s attacks as it facilitated the passage of two vessels through Hormuz. Meantime, the UAE blamed an Iranian drone strike for a fire at its Fujairah port and issued several missile alerts for the first time since a truce between Washington and Tehran took hold. A key energy chokepoint, the Strait of Hormuz has become the conflict’s central focus, with Iran able to disrupt flows as the US struggles to restore transit. With traffic constrained since late February, a prolonged standoff risks keeping oil prices high, fueling inflation and disrupting global supplies. “Even if the immediate conflict de-escalates, we expect the aftershocks will remain with us for some time,” said Darrell Cronk at Wells Fargo Investment Institute. “The effects — on energy prices, industrial activity, and geopolitical risk premia — are unlikely to fade quickly.” The wave of violence came after a plan announced by President Donald Trump to help vessels through the critical waterway, with Tehran warning it would strike US forces if they came near Hormuz. Iran will be “blown off the face of the Earth” if it targets American ships in the region, Trump told Fox News. Earlier in the session, f...
BlackBerry (NYSE:BB) , an enterprise security software provider, closed Monday at $5.58, up 2.86%. The stock moved higher as coverage of its QNX automotive software momentum kept the company’s software pivot in the spotlight. Trading volume reached 50.6 million shares, about 341% above its three-month average of 11.5 million shares. BlackBerry IPO'd in 1999 and has grown 190% since going public. S...
BlackBerry (NYSE:BB) , an enterprise security software provider, closed Monday at $5.58, up 2.86%. The stock moved higher as coverage of its QNX automotive software momentum kept the company’s software pivot in the spotlight. Trading volume reached 50.6 million shares, about 341% above its three-month average of 11.5 million shares. BlackBerry IPO'd in 1999 and has grown 190% since going public. S&P 500 slipped 0.40% to 7,201, while the Nasdaq Composite eased 0.19% to finish at 25,068. Among software infrastructure peers, Cisco Systems closed at $92.63, up 0.85%, and Palo Alto Networks ended at $184.56, gaining 1.92%. BlackBerry’s resurgence to popularity as a turnaround stock continued to gain steam today after an interview about the company’s QNX unit got a lot of attention from the market. BlackBerry’s “hidden” software from its QNX unit is in over 275 million cars on the road. BB works with all 10 of the top automakers and 24 of the top 25 EV makers, helping securely deliver features such as advanced driver assistance systems and the critical software that powers vehicles. Continue reading
(RTTNews) - Vornado Realty Trust (VNO) on Monday reported first-quarter results with revenue slightly declining from last year, while the company swung to a net loss.
(RTTNews) - Vornado Realty Trust (VNO) on Monday reported first-quarter results with revenue slightly declining from last year, while the company swung to a net loss.
HNvisual/iStock via Getty Images McCormick ( MKC ) reported Q1'26 results on March 31 alongside the announcement of its combination with Unilever ( UL ) Foods, and the market's reaction was negative. The stock sold off as investors processed the scale of the transaction. I think that reaction is understandable but wrong. The underlying quarter was strong, and the cost synergies alone make the deal...
HNvisual/iStock via Getty Images McCormick ( MKC ) reported Q1'26 results on March 31 alongside the announcement of its combination with Unilever ( UL ) Foods, and the market's reaction was negative. The stock sold off as investors processed the scale of the transaction. I think that reaction is understandable but wrong. The underlying quarter was strong, and the cost synergies alone make the deal compelling, not to mention the geographic distribution opportunity to get McCormick's products out to new markets. In this article, I'll explain why I'm bullish on McCormick, my thoughts on the Unilever transaction, as well as my thoughts on the valuation and risks to consider. A Look at Q1'26 Results McCormick’s Q1 results were strong, with a beat on both the top and bottom lines. The company delivered a clean quarter. During the quarter, revenues of $1.874 billion were up 16.7% year over year, beating the consensus by $85 million . Roughly 13pts of that growth came from the consolidation of McCormick de Mexico, which closed in January 2026. Overall, this deal was bound to happen since McCormick was essentially buying out the remaining 25% it didn’t already own for $750 million. FX translation contributed another ~3pts with minimal organic growth, but that was broadly in line with expectations. On the bottom line, EPS of $0.66 was 6 cents ahead of sell-side estimates. With the strong results, management reiterated their FY’26 guide, which calls for net sales growth of 13% to 17%, adjusted operating income growth of 16% to 20%, and adjusted EPS of $3.05 to $3.13. Seeking Alpha Company Filings What I find more interesting than the headline beat is the margin trajectory. Gross margins expanded 100 bps to 38.6%, and adjusted operating income grew 19% to $268 million, ahead of the 16.7% sales growth. Margin expansion has come from a combination of the higher margins that the Mexico business carries, the ongoing cost savings across procurement, manufacturing, and supply chain, ...
A trading floor manager works on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, US, on Monday, May 4, 2026. Michael Nagle | Bloomberg | Getty Images U.S. stock futures were little changed on Monday night after the major averages suffered declines amid growing concerns that escalating tensions in the Middle East could destabilize the region. S&P 5...
A trading floor manager works on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, US, on Monday, May 4, 2026. Michael Nagle | Bloomberg | Getty Images U.S. stock futures were little changed on Monday night after the major averages suffered declines amid growing concerns that escalating tensions in the Middle East could destabilize the region. S&P 500 futures and Nasdaq 100 futures were trading around the flatline, as were futures tied to the Dow Jones Industrial Average . Stocks fell across the board on Monday, with the blue-chip Dow falling 557.37 points, or 1.13%. The S&P 500 lost 0.41%, while the tech-heavy Nasdaq Composite slipped 0.19%. The losses came after the United Arab Emirates said on Monday that Iran launched drones and missiles against it , putting an already fragile ceasefire between the U.S. and Iran on even shakier ground. The U.S. reportedly said that it had sunk Iranian boats in the Strait of Hormuz. Adm. Brad Cooper, who leads U.S. Central Command, said on Monday afternoon that American forces had eliminated six small Iranian that were attempting to interfere with commercial shipping. However, Iranian state media denied that the boats had been sunk. Oil prices rose on Monday. U.S. West Texas Intermediate crude futures fell 1% to $105.39. Despite this ramp up in Middle East tensions and Monday's losses, Morgan Stanley Wealth Management's Dan Skelly still sees reason to stay optimistic. "You've seen this pattern before where — last year in April, with Liberation Day — big sell-off, big recovery. Now with the war in the Middle East, it's almost like the market is treating geopolitics and some of these domestic policy shocks like pop-up ads along a longer, winding narrative centered on AI, the economy and resilient earnings," the firm's head of market research and strategy said on CNBC's " Closing Bell: Overtime " on Monday afternoon. He added that companies have been posting strong earnings reports th...
ablokhin/iStock via Getty Images Putnam Focused Large Cap Value ETF ( PVAL ) caught my eye as I was researching large value funds that showed the best-in-class total returns. PVAL stood out immediately. This ETF is not an index fund tracking some benchmark. PVAL is an active fund managed by Putnam Investments with a focus on the value factor in the large-cap space. The fund is a strong large-cap v...
ablokhin/iStock via Getty Images Putnam Focused Large Cap Value ETF ( PVAL ) caught my eye as I was researching large value funds that showed the best-in-class total returns. PVAL stood out immediately. This ETF is not an index fund tracking some benchmark. PVAL is an active fund managed by Putnam Investments with a focus on the value factor in the large-cap space. The fund is a strong large-cap value option with a proven track record. While investors must watch out for the active management risk, there are certain compensating factors that mitigate this risk long-term for PVAL. Metrics PVAL Name Putnam Focused Large Cap Value ETF Management Style Active Expense ratio 0.55% Dividend Yield 1.00% Assets $10 billion Average Market Cap $162 billion Morningstar Rating Silver Number of Holdings 45 Top Sector Financial (19%) Top 10 Concentration 33% Portfolio Turnover 21% Click to enlarge Source: Seeking Alpha, Morningstar. Active Management At The Heart Of PVAL Portfolio Unlike many other popular ETFs, PVAL is an active fund. This makes it harder to assess. Its securities selection process is proprietary and hidden from the public eye. Nevertheless, here is what I found out based on my research. The fund is managed by Darren Jaroch and Lauren DeMore. Both fund managers have 20 to 30 years of investment experience. Mr. Jaroch has been with Putnam since 1999, while Lauren DeMore has been there since 2006. Darren Jaroch is the architect behind the multifactor model he developed in the 2000s. The model uses many factors to screen stocks from the Russell 1000 Value Index. But the fund also looks at other stocks from the equity pool suggested by Putnam's analysts. According to Morningstar, PVAL bases its selection process on consensus. There are no separate teams for different sector sleeves or decision-making. Once Jaroch and DeMore agree on potential holdings, these ideas are passed on to the fundamental analysts for more due diligence. Putnam emphasizes relative valuation wi...
Oil held the bulk of a sharp gain after tensions flared across the Middle East, with the US and Iran exchanging fire amid renewed attacks on energy infrastructure and vessels in and around the Strait of Hormuz. US marker West Texas Intermediate traded near $105 a barrel, after surging by more than 4% on Monday, as global benchmark Brent closed above $114. The US military fought off Iranian attacks...
Oil held the bulk of a sharp gain after tensions flared across the Middle East, with the US and Iran exchanging fire amid renewed attacks on energy infrastructure and vessels in and around the Strait of Hormuz. US marker West Texas Intermediate traded near $105 a barrel, after surging by more than 4% on Monday, as global benchmark Brent closed above $114. The US military fought off Iranian attacks as it guided two US-flagged vessels through the critical waterway, according to US Central Command. In the United Arab Emirates, an oil terminal in Fujairah port was struck. The moves — which came as the US sought to clear a path through Hormuz for vessels that have been stranded by the war — cast doubt on the fate of a four-week ceasefire between Washington and Tehran. US Defense Secretary Pete Hegseth is scheduled to hold a press conference on Tuesday. US crude has rallied by more than 80% this year as the conflict deprived the market of millions of barrels of crude, with the strait still all-but-impassable to most vessels and wells shut-in around the region. The waterway has been subject to a double blockade, with Tehran seeking to prevent ships from transiting, while Washington stops boats sailing to or from the Islamic Republic. Still, Iranian Foreign Minister Abbas Araghchi said that talks with Washington were “making progress” but the US and the UAE “should be wary of being dragged back into quagmire by ill-wishers,” according to a post on X. Events in Hormuz made clear “there’s no military solution to a political crisis,” he added. President Donald Trump said the war — which began at the end of February — may last for another two to three weeks, according to an interview with Salem News Channel. “Time is not of the essence for us” in making a deal with Iran, he said. “The market upshot is further indications that so long as there is no deal between the US and Iran, the strait is likely to remain closed,” said Gregory Brew , geopolitical analyst at the Eurasia Group...