A small plane crashed in Texas Hill Country, killing all five people aboard, officials said on Friday. The crash happened on Thursday night in Wimberley, a city about 40 miles (65km) southwest of Austin, Hays County Judge Ruben Becerra said on social media. The Federal Aviation Administration said the Cessna 421C crashed around 11.25pm with five people on board. It said the FAA and National Transp...
A small plane crashed in Texas Hill Country, killing all five people aboard, officials said on Friday. The crash happened on Thursday night in Wimberley, a city about 40 miles (65km) southwest of Austin, Hays County Judge Ruben Becerra said on social media. The Federal Aviation Administration said the Cessna 421C crashed around 11.25pm with five people on board. It said the FAA and National Transportation Safety Board will investigate the crash. The plane took off from Amarillo, Texas, about two...
Roman Tiraspolsky Intel ( INTC ) was granted an early termination notice on its pending SambaNova Systems partnership, the Federal Trade Commission said on Friday. Santa Clara, Calif.-based Intel said in February that it was taking part in a $350M funding round for the AI chip startup and would also form a partnership with the company. SambaNova Systems raised $350M in Series E financing to expand...
Roman Tiraspolsky Intel ( INTC ) was granted an early termination notice on its pending SambaNova Systems partnership, the Federal Trade Commission said on Friday. Santa Clara, Calif.-based Intel said in February that it was taking part in a $350M funding round for the AI chip startup and would also form a partnership with the company. SambaNova Systems raised $350M in Series E financing to expand manufacturing and cloud capacity, with new investors including Vista Equity Partners, Cambium Capital, Intel Capital, Battery Ventures, and accounts advised by T. Rowe Price Associates. The AI hardware and software company said SoftBank ( SFTBY ) will be the first customer to deploy SN50 within its next‑generation AI data centers in Japan. The SN50 delivers five times more compute per accelerator and four times more network bandwidth than the previous generation, the company added. Intel CEO Lip-Bu Tan also serves as SambaNova's executive chairman. Intel had previously discussed buying the startup for about $1.6B, including debt. More on Intel Why Intel's Rally Might Not Be Over Yet AMD Is Better Positioned Than Intel To Profit From Agentic AI (Rating Upgrades) Intel: I'm Selling My Biggest Winner And You Should Too Sell in May? Hard to make the case with this kind of AI momentum Trump touts Intel stock surge, claims $30B gain for U.S.
Even as the S&P 500 continues to set new all-time highs, there are some warning signs emerging. The labor market is showing signs of stagnating, inflation shot much higher in March, and the Iran war is hanging a cloud of uncertainty over everything. Corporate earnings are still likely to show solid growth in the coming quarters, but a weakening economic foundation could reverse that quickly. This ...
Even as the S&P 500 continues to set new all-time highs, there are some warning signs emerging. The labor market is showing signs of stagnating, inflation shot much higher in March, and the Iran war is hanging a cloud of uncertainty over everything. Corporate earnings are still likely to show solid growth in the coming quarters, but a weakening economic foundation could reverse that quickly. This puts the equity markets in a potentially vulnerable spot where equities could fall sharply and quickly. Most investors have a significant percentage of their portfolios in tech stocks. Even investments in the S&P 500, which are considered diversified, have more than 30% of assets dedicated to the sector. That kind of growth tilt can be a hazard in a market where investors look to take risk off the table. Continue reading
Philip Hoeppli/iStock via Getty Images All figures are in United States Dollars unless otherwise noted. G/T = grams per tonne (of gold or silver). GEOs = gold-equivalent ounces. AISC refers to all-in sustaining costs. LOMP = life of mine plan. TPD = tonnes per day. UG = Underground. OP = open-pit. MTPA = million tonnes per annum. FS/DFS = Definitive Feasibility Study. PFS = Pre-feasibility study. ...
Philip Hoeppli/iStock via Getty Images All figures are in United States Dollars unless otherwise noted. G/T = grams per tonne (of gold or silver). GEOs = gold-equivalent ounces. AISC refers to all-in sustaining costs. LOMP = life of mine plan. TPD = tonnes per day. UG = Underground. OP = open-pit. MTPA = million tonnes per annum. FS/DFS = Definitive Feasibility Study. PFS = Pre-feasibility study. PEA = Preliminary Economic Assessment. NSR = net smelter return royalty or royalty on revenue from smelter/refinery minus certain transport/smelter charges. GRR = gross revenue royalty. C&M = care and maintenance. NAV = net asset value. P/NAV = price to net asset value. EV/FCF = enterprise value to free cash flow. YoY = year-over-year. QoQ = quarter-over-quarter. Base case metals price assumptions referenced in the article are as follows, are not predictions and are purposely well below spot prices in out years to bake in added conservatism: $4,600/oz gold in 2026 $4,300/oz in 2027 $3,900/oz in 2028/2028 $3,100/oz long-term Introduction Fortuna Mining ( FSM ) is a multi-asset gold producer with two gold mines in Cote d'Ivoire and Argentina, and Lindero, and one polymetallic mine (silver-lead-zinc) in Peru, Caylloma. The company generates the bulk of its cash flow from West Africa, making it a higher-risk producer from a jurisdictional standpoint than its average peer. This trend is expected to continue, with the company's two growth projects being focused in Cote d'Ivoire (Seguela Plant Expansion) and Senegal (Diamba Sud Project, a new mine build), pushing annual cash flow from West Africa closer to 80% by 2029. Seguela Mine Operations, Cote d'Ivoire (Fortuna Video) As for Fortuna's recent results, it was one of the few companies to report lower revenue in Q4'25 and full-year 2025 on a YoY basis, with revenue down 10% and 11%, respectively. This was largely because of the divestment of one mine in Mexico, San Jose, and another in Burkina Faso, Yaramoko. And while these non-...
EQT AB has picked investment banks to advise on options for hearing aid maker WS Audiology , including a possible initial public offering in Copenhagen, people familiar with the matter said. The Swedish investment firm has selected Danske Bank AS , Goldman Sachs Group Inc. and Morgan Stanley to work on the next steps for the business, which could result in a listing as soon as next year, the peopl...
EQT AB has picked investment banks to advise on options for hearing aid maker WS Audiology , including a possible initial public offering in Copenhagen, people familiar with the matter said. The Swedish investment firm has selected Danske Bank AS , Goldman Sachs Group Inc. and Morgan Stanley to work on the next steps for the business, which could result in a listing as soon as next year, the people said. EQT owns a roughly 49% stake in WS Audiology, while the rest is owned by an investment company controlled by the Tøpholm and Westermann families and the Lundbeck Foundation. Deliberations are ongoing and no final decisions on whether to pursue a listing of WS Audiology have been made, the people said, asking not to be identified discussing confidential information. Representatives for WS Audiology, EQT, Danske Bank and Morgan Stanley declined to comment. Spokespeople for Goldman Sachs and the family owners didn’t immediately respond to requests for comment. WS Audiology is one of the world’s largest hearing aid makers. It was created in 2019 through the merger of the previous EQT portfolio company Sivantos and Widex, which was owned by the Tøpholm and Westermann families.
AscentXmedia/E+ via Getty Images What a Wednesday April 29th was one of the better earnings days in recent memory for the market ( SPY , QQQ , DIA , VOO ). I've had the conversation in articles with readers, clients, and friends quite frequently in counter to this question: "Look at the charts, we must be due for a bad year, what do you think?" Well, on a fundamental basis, that's a really hard pi...
AscentXmedia/E+ via Getty Images What a Wednesday April 29th was one of the better earnings days in recent memory for the market ( SPY , QQQ , DIA , VOO ). I've had the conversation in articles with readers, clients, and friends quite frequently in counter to this question: "Look at the charts, we must be due for a bad year, what do you think?" Well, on a fundamental basis, that's a really hard pill to swallow. These companies that make up the upper echelon of the S&P 500 ( SP500 ) continue to beat, and many still have catalysts on the horizon that have yet to materialize into numbers. But what about the concentration? Seeking Alpha The top 10 of the S&P 500 currently make up 36.49% of the index. Being a market-cap-weighted index, this is probably for good reason. These companies have the best growth rates in revenue and earnings on a consistent basis. Of the top 10, the 490 that come after the top 10 have to be envious of the balance sheets these companies wield as well. Outside of Tesla ( TSLA ), all are self-funding machines and have plenty of "credit card" space to begin borrowing for CAPEX if they're involved in data center expansion when comparing net debt to EBITDA. Most carry large cash equivalents on the balance sheet and have net cash positions. Growth follows earnings Data by YCharts This 5-year period, which includes most of the COVID-19 era transition into remote work, which in turn spurned more remote work software stacks and CRMs, gave way to LLMs, which now drive more and more efficiency. The Wednesday beats On Wednesday, we had an earnings report overload with 4 of the top 10 S&P 500 megacaps reporting after the close of the market. Here were the results: Data via Seeking Alpha Company EPS Estimate EPS Actual EPS Beat Rev Estimate [billions] Rev Actual [billions] Rev Beat (AMZN ) 1.64 2.78 +69.5% 177.17 181.52 +2.45% (MSFT ) 4.07 4.27 +4.9% 81.43 82.89 +1.79% (META ) 6.82 7.31 +7.2% 55.56 56.31 +1.36% (GOOGL ) 2.63 5.11 +94.3% 107.04 109.90 +2.67% C...
Chevron, ConocoPhillips Warn About "Critical Shortages" Of Oil, Soaring Prices And Demand Destruction This morning, most of the world's energy giants including Exxon and Chevron, reported stellar earnings as surging oil prices more than offset curtailed output. They also issued several loud warnings about the ongoing Hormuz blockage which is no closer to resolution. ConocoPhillips was first, warni...
Chevron, ConocoPhillips Warn About "Critical Shortages" Of Oil, Soaring Prices And Demand Destruction This morning, most of the world's energy giants including Exxon and Chevron, reported stellar earnings as surging oil prices more than offset curtailed output. They also issued several loud warnings about the ongoing Hormuz blockage which is no closer to resolution. ConocoPhillips was first, warning of imminent “critical shortages” of oil for some nations as the Iran war that has crippled global energy flows enters its third month. The supply crunch that already pushed Brent prices up more than 50% in just nine weeks and just 2 days ago hit a multi-year high, appears likely to significantly worsen as soon as June, Chief Financial Officer Andy O’Brien told analysts during a conference call Thursday. “The biggest challenge we’re about to face is that the markets sort of had a bit of a grace period initially when the tankers that left the Persian Gulf in late February were still on the water; now all of those have reached their destination,” O’Brien said, touching on a topic we discussed at the start of April . “We are going to start to see some import-dependent countries potentially start to face critical shortages as we get into the June-July time frame” at which point the dreaded "demand destruction" kicks in. Oil refiners around the world have responded to the Iran war-driven drop Gulf oil shipments by curbing daily processing rates by roughly 8 million barrels, roughly the amount that has been blockaded by Iran, O’Brien noted. The knock-on effects of those cuts and the wider market disruption have included skyrocketing prices for everything from jet fuel and gasoline to fertilizer. The ConocoPhillips executive’s comments represented some of the starkest yet from a US oil producer with a global footprint that stretches from Alaska to Australia. As for ConocoPhillips, the conflict that began with US-Israeli attacks on the Islamic Republic in late February prompted t...
Company had struggled to increase post-pandemic demand before war in Iran pushed up jet fuel costs Sign up for the Breaking News US email to get newsletter alerts in your inbox Spirit Airlines is preparing to cease operations after the beleaguered company ran out of cash and a rescue attempt by the Trump administration appeared to stall. The company struggled to make a deal with its creditors and ...
Company had struggled to increase post-pandemic demand before war in Iran pushed up jet fuel costs Sign up for the Breaking News US email to get newsletter alerts in your inbox Spirit Airlines is preparing to cease operations after the beleaguered company ran out of cash and a rescue attempt by the Trump administration appeared to stall. The company struggled to make a deal with its creditors and secure funding to maintain operations, according to a Wall Street Journal report citing people familiar with the matter. Continue reading...