专题：聚焦美股2026年第一季度财报 净利息收入实现两位数增长，手续费及佣金净收入走高 该行在西班牙和墨西哥市场均实现贷款规模增长。 西班牙对外银行（BBVA）公布利润同比增长，依托 信贷业务持续扩张 及核心主要市场稳健表现，缓冲了成本走高与拨备计提增加带来的冲击。 这家西班牙银行过半业务收入来自欧洲以外市场。其一季度净利润同比上涨 11%，达 29.9 亿欧元 （折合 34.9 亿美元），高于公司统计的分析师一致预期 28 亿欧元。 一季度营业总收入同比增长 14%，至 106.5 亿欧元 ，同样超出分析师 100.5 亿欧元的预期。 营收增长主要由两大板块拉动： 净利息收入实现两位数增幅 （贷款利息收入减去客户存款利息支出），同时资产管理、支付及保险业务带来的 手续费及佣金净收入 同步提升。 西班牙与墨西哥两大市场贡献该行约三分之二营收，BBVA 在两地的企业贷与个人消费贷规模均实现增长。此外，土耳其及南美分支机构业绩表现改善，企业与投行业务也保持持续扩张。 运营成本同比攀升 14%，至 40.5 亿欧元 ，部分源于西班牙本土自愿离职裁员计划。 银行计提 18.2 亿欧元 贷款坏账拨备，同比增加约三分之一，主要随信贷资产规模扩张相应上调风险储备。 首席执行官奥努尔・根奇表示：“本季度业绩表明，我们的战略规划稳步落地，有望如期达成 2028 年既定目标。” 集团微调 有形股本回报率 （核心盈利指标）指引：预计今年该指标将 突破 20% ，此前预期为接近 20%；公司一季度有形股本回报率已达 21.7%。 BBVA 海外业务布局广泛，去年曾试图收购西班牙本土中小型银行萨瓦德尔银行，最终收购未果。原本希望通过并购扩大本土规模、降低对新兴市场的依赖 —— 新兴市场增速更高，但同时存在汇率波动风险。目前集团已转向 内生业务增长 ，并加大向股东返还资本力度。 这家总部位于马德里的银行宣布，将于下周初启动 40 亿欧元股票回购计划 的最后一期，本轮回购规模最高达 14.6 亿欧元 。 受油价波动及企业财报喜忧参半影响，欧洲银行业板块整体走弱，但 BBVA 股价周四逆势上涨超 1%。 责任编辑：郭明煜

metamorworks/iStock via Getty Images Alphabet ( GOOG ) benefited handsomely in the first-quarter in its Cloud business, which is driven chiefly by AI products like Gemini (Google’s AI assistant), as well as digital advertising and YouTube. As a result, the tech enterprise easily surpassed consensus estimates for the first fiscal quarter in terms of earnings and revenues, and saw a 7% share price pop after Q1 earnings on Wednesday. I like Alphabet for a number of reasons, especially its enterprise-driven AI momentum which has led to a 15 PP Q/Q revenue growth acceleration in the Cloud segment in Q1'26, in part due to soaring use for Google’s AI bot Gemini. The Cloud computing platform has clearly massive potential for expansion, and is currently the third-largest Cloud infrastructure provider in the market, after Amazon ( AMZN )’s AWS and Microsoft ( MSFT )’s Azure. Due to strong demand for AI products and services, Google raised its CapEx guidance to $185B, at the mid-point. Despite a sharp upside revaluation of Google's shares in the last year, I believe the valuation profile and risk setup still benefit investors that want to gain exposure to Google’s rapidly evolving AI business and benefit from accelerating AI-driven momentum on the Google Cloud platform. Data by YCharts Previous rating Alphabet was a ‘Strong Buy’ for me in February -- Strong Cloud Upside -- because a technology company had increasing success penetrating the AI assistant market and gave OpenAI a run for its money. Google’s generative AI model Gemini has captured market share and is seeing strong adoption momentum in its Cloud segment… which is Alphabet’s uncontested growth engine right now. Cloud is also growing significanty faster than either Search or YouTube-related revenue streams. I see a favorable investment setup for long term investors, especially as Alphabet is on track to seriously ramp up its AI-driven CapEx spending this year. Cloud business is on fire, driven by AI adoption Alphabet...

The stock market looked to close out its best month since 2020 on Thursday after a Big Tech earnings bonanza boosted AI stocks. The Nasdaq rose 0.6%. The S&P 500 gained 0.4%. The Dow rose 200 points, or 0.

Micron Technology stock hits all-time high at $533.47 By Investing.com Investing.com India

LOS ANGELES, April 30, 2026--Zefr, the global leader in brand suitability technology for social platforms, today announced the launch of its agentic hub for social advertising, integrating cross-platform insights, reporting, and AdCP-based activation into a unified workflow.

财联社4月30日讯（记者 张屹鹏） 一纸公告发布，标志着引望将迎来了第三位“金主”。 4月30日， 江淮汽车 公告，公司拟投资引望智能技术有限公司（下称“引望”），交易对方为华为技术有限公司（下称“华为”）。“目前双方暂未签署相关投资协议，本次交易以签订并生效的最终交易文件为准，具体投资额、交易方式、交易价格等存在不确定性，对上市公司的影响也存在不确定性。”江淮汽车表示。 截至目前，引望主要股东为：华为持股80%， 赛力斯 持股10%，阿维塔持股10%。 深圳引望智能技术有限公司（现更名为“引望”）成立于2024年初，彼时由华为全资控股。同年8月，阿维塔投资引望协议签约完成，阿维塔占股10%。随后赛力斯公告，拟以支付现金的方式购买华为持有的引望10%股权，交易价格为115亿元。 随后很长一段时间内，行业始终存在着“江淮入股引望、成为第三家持股车企”的传闻。北京车展期间，江淮与华为终端签署《联合创新合作协议》。根据协议，双方将进一步加大在产业链协同层面的合作力度，共同投入新能源汽车领域前沿技术的联合创新。 业界普遍认为，先后深度绑定华为终端和引望，意味着江淮与华为的合作已全面进入2.0阶段。“华为用资本开放锁定核心车企，江淮则用入股换取于华为合作的进一步深度绑定，在尊界市场表现超预期的背景下，江淮、华为的进一步合作将为尊界品牌带来更大的发展空间。”有业内人士分析表示。 基于“尊界2.0时期”的到来，江淮汽车2026年度营收与利润表现引发关注。4月28日，江淮汽车公告称，2026年第一季度实现营业收入114.59亿元，同比增长16.91%；归属于上市公司股东的净利润亏损6.06亿元，上年同期亏损2.23亿元。业绩变动主要系报告期内汇率变动导致汇兑收益减少以及公司确认的合营联营企业投资收益同比减少所致。 江淮汽车在此前的2025年年度股东会上表示，2026年预算销售汽车42.4万辆，同比增长10.4%；预算营业总收入650亿元，同比增长39.58%。

格隆汇4月30日｜美股开盘，纳指涨0.7%，道指涨0.52%，标普500指数涨0.43%。科技股多数走高，高通涨超9%，谷歌涨超6%，亚马逊涨超3%，Meta跌超7%。

VIEW US growth picks up; PCE inflation is higher but in line with expectations Reuters

道指涨0.55%，标普500指数涨0.45%，纳指涨0.63%。礼来涨约7%，公司Q1营收大增56%，GLP-1药物销售近乎翻倍，上调全年指引 。 高通涨约8%，公司Q2手机芯片跌13%，但CEO”看到底部”，数据中心成新救命稻草。 谷歌A涨约7%，Alphabet一季度营收超预期增长22%，AI驱动多板块业务增长，云业务大增63%。 Meta跌约8%，公司Q1营收增长33%小幅超预期，上调全年资本开支至最高1450亿美元。 亚马逊涨约2%，云业务力挺亚马逊Q1营收提速，AWS收入增速近四年最高，资本支出超预期。 微软跌约3%，公司上季营收超预期增长，Azure云收入增40%，资本支出意外放缓。

What's Going On With Microsoft Stock Thursday? Benzinga

美东时间2026年4月29日下午2点30分，华盛顿宪法大道美联储总部。杰罗姆·鲍威尔最后一次以美联储主席身份走上发布会讲台。 台下是挤得满满当当的记者席，线上是屏息以待的全球交易员。半小时前，联邦公开市场委员会（FOMC）刚刚发布了一份表面波澜不惊、实则裂痕深重的声明：联邦基金利率目标区间维持在3.50%—3.75%不变，但投票结果是8比4。这是自1992年以来，美联储内部最严重的一次投票分裂。 “感谢大家今天的提问。”鲍威尔在发布会结束时说，语气平静，甚至带着一丝如释重负。 “下次（发布会）就不见了。”他转身离去。台下响起笑声，也有一种难以言说的历史感。没有人知道，这句轻描淡写的告别，是一个时代的终结，还是一场更大风暴的序曲。 当天，原油价格继续大涨，黄金价格跌至近一个月低位，美债收益率上行，美股承压。轻质低硫原油（WTI）收于106美元上方，布伦特原油收于118美元附近并在盘后一度逼近120美元；伦敦现货黄金跌至约4528美元/盎司，美国黄金期货跌至约4561美元/盎司。 这不是传统避险交易，而是一次典型的通胀型恐慌。 利率静止 裂痕炸开 先看投票。8票赞成，4票反对。 4个反对票却不是同一种声音，而是两个极端：美联储理事斯蒂芬·米兰主张立即降息25个基点。他认为经济动能已在能源冲击下钝化，维持高利率是“不必要的紧缩”。美联储理事贝丝·哈马克、尼尔·卡什卡利、洛里·洛根，这三位地区联储行长并不反对维持利率本身，但他们明确要求——删除声明中带有宽松倾向的措辞，即删除“在考虑对联邦基金利率目标区间进行进一步调整的程度和时机时”中的“进一步”。 他们反对的不是利率，而是预期管理的方向。这意味着，FOMC内部连“下一步可能是降息”这种最模糊的信号都无法达成共识。 这是自1992年11月以来，首次出现如此多的异议票。更关键的是，异议不是单边的——鸽派要求降息，鹰派要求连“宽松倾向”都不要保留。鲍威尔在发布会上被媒体直接问道：“你现在领导的是一个充满分歧的美联储吗？” 他的回答坦率得令人意外：“我们每一次开会都会进行激烈的讨论……如果每个人都同意，这才是让我们感到惊讶的地方。” 但所有人都听得出来，这是一位即将离任的主席在用“供应冲击”叙事，为一场本不该如此分裂的投票做辩护。 市场反应：油价涨、黄金跌 当天市场表现，是对“鲍威尔式观望”的一次集体投票。 原油成为最敏感资产。...

Torsten Asmus/iStock via Getty Images The bond market is losing faith that inflation risk from the Middle East conflict will be contained and fade quickly. The Federal Reserve’s monetary policy is still in wait-and-see mode, but several key Treasury yields aren’t waiting to see what happens. Jerome Powell, in his appearance yesterday as Fed chair, presided over the central bank’s widely expected announcement that it would leave its target rate unchanged in a 3.50%–3.75% range. The Fed, in its policy statement , noted that “inflation is elevated, in part reflecting the recent increase in global energy prices.” Powell, responding to a question about war-driven price surges at Wednesday’s press conference, said “it hasn’t even peaked yet.” He added: “I think we’d want to see the backside of that and progress on tariffs before we even thought about reducing rates. If we need to hike, we will; we will certainly signal that,” but not now. The Treasury market is starting to move on from waiting. The 2-year yield ( US2Y ), which is widely monitored as a market-based outlook on policy, shot up to just under 3.97%, close to the wartime peak set early in the conflict. The benchmark 10-year yield ( US10Y ) also rose, jumping to 4.34%, which is likewise close to its wartime peak. The Treasury market’s implied inflation forecasts are also rising again, based on the spread between nominal rates and their inflation-indexed counterparts. Notably, the forecast via the 5-year maturity increased to 2.67% yesterday, setting a new peak since the war began and widening the gap further relative to the Fed’s 2% inflation target. Despite the mounting inflation worries in the Treasury market, the Fed is expected to keep rates steady through the end of the year, based on Fed funds futures. Meanwhile, oil prices remain elevated. The U.S. benchmark (West Texas Intermediate) traded well above the $100-a-barrel mark for a second day and remains close to its wartime peak. Energy costs have already ...

QCOM beats Q2 earnings estimates as record auto sales and steady IoT momentum helped offset weaker handset demand and cautious OEM builds.

iShares Self-Driving EV and Tech ETF (NASDAQ:IDRV) has rebounded sharply, gaining 14.41% in the past month and 48.01% over the trailing year. Shares still trade at almost $43, essentially flat with where they sat five years ago, and the fund’s risk profile is dominated by a single transmission channel that investors should understand before assuming ... IDRV Holds 48% Gains This Year, but Tariff Policy Could Erase Them Quickly

Anzz Media/iStock Editorial via Getty Images Executive Summary Alphabet Inc. ( GOOG ) delivered a transformational Q1 2026 earnings report on April 29, 2026, triggering a powerful after-hours rally that saw shares surge 6-7% as the market reassessed the company's AI positioning. For months now, investors have had only one basic question when it comes to Alphabet: Will Artificial Intelligence (AI) be a threat to Google Search, or will AI create a new layer of monetization above the existing dominant search business? I talked about it extensively in my analysis of the preview of the big tech quarterly results this week, and based on Alphabet's Q1 2026 report, we are moving closer to the latter. As far as Search goes, it does not appear damaged. It appears to be getting better. The level of user interaction continues to remain high. Google uses AI to support and drive additional query volume through its Search business. Most importantly, the core advertising engine continues to demonstrate that Google is not losing ground as quickly as many expected. However, in my opinion, the more essential element of Alphabet’s Q1 2026 earnings is that Alphabet is no longer solely a Search story. Google Cloud is starting to become a real source of profitability. YouTube still represents one of the most valuable media platforms globally. More importantly, Alphabet has developed all of the components required to develop a complete AI platform: infrastructure; chips; models; distribution channels; and consumer-facing applications. Fewer than ten companies can make this claim. I am long Alphabet and the rest of the Magnificent 7 complex, except Tesla ( TSLA ), which remains outside my investable universe. Clearly, I have a very positive outlook on Alphabet and I have already discussed the stock in my other analyses here on Seeking Alpha . Seeking Alpha This report assesses whether Q1 2026 marks the start of a long-term re-rating more aligned with Alphabet’s fundamentals. The report will...

人工智能(AI)需求驅動下，美國多間科技巨企上季業績好過市場預期，並計劃繼續增加人工智能相關投入。 美國四大科技巨頭同日派成績表，表現都好過市場預期，人工智能是驅動業績增長的引擎。 不過資本開支大幅增加亦成為市場關注的焦點。 在人工智能競賽下，Alphabet旗下谷歌首季資本開支達到357億美元，約為去年同期兩倍，公司更將全年資本開支指引上調50億美元，至介乎1,800億至1,900億美元。受到人工智能應用帶動，谷歌上季雲端業務收入大增六成三至200億美元，預視未來相關收入會繼續高增長，有需要加大投資配合。 谷歌行政總裁披猜說︰「我們的雲業務收入本可以更高，如果能滿足市場需求，我們正在全力解決這一問題，並加大投資力度。我們看到市場需求極其旺盛，對於人工智能解決方案和人工智能礎設施。」 Alphabet連計微軟、Facebook母公司Meta及亞馬遜單計這四間美國科技巨頭，預算今年資本開支合計高達7,250億美元。 Meta創辦人朱克伯格強調，人工智能投資將提升用戶參與度與廣告價值，投資回報亦正在增加。 朱克伯格表示︰「過去數年的趨勢似乎非常明確，我們看到透過提升用戶的參與度，與強化對廣告主的價值，所帶來的回報不斷提高，這也鼓勵我們持續大力投資。思考這項投資的方式是，我們正在押注，人們在意的那些個別事物，以及人們在未來將變得更重要的方向。」 為抵銷鉅額投資帶來的成本壓力，Meta下月將裁減8,000個職位，同時凍結約6,000個原本計劃填補的空缺。 因應人工智能應用而不再需要大量人手。亞馬遜去年十月以來，已裁約3萬個職位。微軟亦為了精簡架構，推出針對資深員工的自願離職方案，並計劃加快投資人工智能技術。

人工智能(AI)需求驅動下，美國多間科技巨企上季業績好過市場預期，並計劃繼續增加人工智能相關投入。 美國四大科技巨頭同日派成績表，表現都好過市場預期，人工智能是驅動業績增長的引擎。 不過資本開支大幅增加亦成為市場關注的焦點。 在人工智能競賽下，Alphabet旗下谷歌首季資本開支達到357億美元，約為去年同期兩倍，公司更將全年資本開支指引上調50億美元，至介乎1,800億至1,900億美元。受到人工智能應用帶動，谷歌上季雲端業務收入大增六成三至200億美元，預視未來相關收入會繼續高增長，有需要加大投資配合。 谷歌行政總裁披猜說︰「我們的雲業務收入本可以更高，如果能滿足市場需求，我們正在全力解決這一問題，並加大投資力度。我們看到市場需求極其旺盛，對於人工智能解決方案和人工智能礎設施。」 Alphabet連計微軟、Facebook母公司Meta及亞馬遜單計這四間美國科技巨頭，預算今年資本開支合計高達7,250億美元。 Meta創辦人朱克伯格強調，人工智能投資將提升用戶參與度與廣告價值，投資回報亦正在增加。 朱克伯格表示︰「過去數年的趨勢似乎非常明確，我們看到透過提升用戶的參與度，與強化對廣告主的價值，所帶來的回報不斷提高，這也鼓勵我們持續大力投資。思考這項投資的方式是，我們正在押注，人們在意的那些個別事物，以及人們在未來將變得更重要的方向。」 為抵銷鉅額投資帶來的成本壓力，Meta下月將裁減8,000個職位，同時凍結約6,000個原本計劃填補的空缺。 因應人工智能應用而不再需要大量人手。亞馬遜去年十月以來，已裁約3萬個職位。微軟亦為了精簡架構，推出針對資深員工的自願離職方案，並計劃加快投資人工智能技術。

美股三大指数集体高开，标普500指数涨0.48%，道指涨0.55%，纳指涨0.71%。大型科技股方面，谷歌A涨7.08%，亚马逊涨3.59%，微软跌2.95%，Meta跌7.74%。中概股方面，携程涨1.98%，网易涨1.10%，小鹏集团跌1.01%，理想汽车跌1.80%，蔚来跌2.19%。

Joe Hendrickson/iStock Editorial via Getty Images SoFi: Worst One Day Decline On Record. Seriously? For a moment, I thought the stock of SoFi Technologies ( SOFI ) was really rallying hard after it bottomed in early April. SOFI post earnings decline (Barron's) And just as I thought I could finally nail a bottom in SOFI and boast about my market timing skills on this inherently volatile stock, the market then quickly reversed that optimism. That 15.4% post-earnings slide in SOFI was brutal. In just this week alone, SOFI has given up almost all the gains that it mustered in April, when it recovered 35% from those lows. What went wrong with SoFi’s Q1 earnings scorecard? Was it really that bad that it took market participants by surprise? Or has it got to do with external developments (think private credit) that have kind of spooked investors into unloading those gains quickly, while allowing more time for SOFI to prove them wrong? I will get into that in a while. But I guess it doesn’t hurt to remind ourselves that SOFI is, after all, a volatile stock. Hence, timing an exact entry is always going to be quite challenging. I highlighted these challenges back in my last SOFI write-up , as the stock collapsed >50%. I also reminded that the signals indicating a bottom were fomenting and getting more obvious. It makes sense to prognosticate that its robust earnings growth rate estimates should help calm nerves at a time when the financial sector was underperforming (and still is). While that played out initially, the print has also quickly turned around. So, I think some measure of humility is always forthcoming in investment analysis. With that, let’s dive right in to try and assess whether the market was right in adjudicating SoFi's earnings print. Or did the investors take their hammering on the stock way too far? I believe the clearest signal is obviously linked to the loan platform business, right? Let’s be clear here. SOFI can continue to make loans if it chooses to. I...

行政長官李家超出席勞動節酒會，他致辭時指政府將持續推進本港各項勞工政策措施。 行政長官李家超說：「勞工是經濟發展的根基，保障勞工是保障現在更是投資未來。政府重視勞工，從保障僱傭權益、提升職安健，到增加勞工技能、保障工人就業，我們一步一腳印，持續推進各項政策措施。我肯定各位的貢獻，我期望大家繼續秉持務實的精神，在勞資對話中凝聚共識，在權益保障中尋求平衡，讓廣大勞工有獲得感、幸福感，安全感而且落到實處。」

财联社4月30日讯，据国务院国资委网站消息，6户中 央企 业5名领导人员职务任免。 中国 节能环保 集团有限公司、中国钢研科技集团有限公司 张世荣任中国节能 环保 集团有限公司党委副书记、董事，提名为中国节能环保集团有限公司总经理人选；免去其中国钢研科技集团有限公司党委副书记、党委常委职务。 中国 汽车 技术研究中心有限公司 龚进峰任中国汽车技术研究中心有限公司党委副书记、董事，提名为中国汽车技术研究中心有限公司总经理人选。 中国 民航 信息集团有限公司 孙鸣鹤任中国民航信息集团有限公司党委副书记、董事。 中国 黄金 集团有限公司 提名李佳颖（女）为 中国黄金 集团有限公司副总经理人选。 新兴 际华集团 有限公司 免去张同波的新兴际华集团有限公司党委常委职务，不再担任新兴际华集团有限公司副总经理职务，退休。

Nauticus Robotics ( KITT ) received formal confirmation from Nasdaq that it meets all continued listing requirements. Compliance covers the period through the Nasdaq Hearing Panel jurisdiction, which ended April 14, 2026. Nauticus must maintain minimum shareholders’ equity of $3.5 million each quarter during the monitoring period. The Panel Monitor period runs until December 19, 2026. More on Nauticus Robotics Nauticus Robotics, Inc. (KITT) Q4 2025 Earnings Call Transcript Nauticus Robotics, Inc. 2025 Q4 - Results - Earnings Call Presentation Nauticus Robotics, Inc. (KITT) Discusses Strategic Investment, Technology Collaborations and Key Milestones Transcript Financial information for Nauticus Robotics

adventtr/iStock via Getty Images Introduction We last covered Gaming and Leisure Properties, Inc. ( GLPI ) in February 2025 in which we issued a buy recommendation on the stock and, in this article, we are changing our recommendation to a hold. The change in recommendation is reflective of the investment spread that GLPI is currently generating and the value of the investment spread that is already reflected in the enterprise value to invested capital ratio. In this article, we take a top-down view and start with the historical relationship between the equity REIT asset class and the U.S. 10-year Treasury rate. We then consider the performance of GLPI relative to the equity REIT sector since the company’s formation. Next, we shift gears from macro to the firm and quantify the investment spread that GLPI is able to generate in the current economic environment. We incorporate the spread into our valuation framework and demonstrate that GLPI is trading in a fair value range as measured by a justified premium to their invested capital base. On a technical note, we have updated our framework. While investment spreads are still central to our thesis, we have updated our methodology in two areas. First, we use inputs that are REIT specific in estimating the cost of equity capital rather than a broad market index. Secondly, we incorporate a value driver approach adapted to REITs in forming a fair value estimate. Previously, our emphasis was more on the value of the investment spread that would flow through to investors in the form of dividends. We believe the updated framework is more aligned with how institutional analysts value REITs which could benefit investors in how they position their portfolios. Macro Spread Please see Exhibit 1. Exhibit 1 (FTSE, Nareit and the Federal Reserve Bank of St. Louis) Since the turn of this century, the spread between the U.S 10-year Treasury rate and the implied cap rate for the All Equity REITs Index has been 337 basis points. The sprea...

The time has come to make a move on this software-stock selloff. And we're going to use (our favorite income plays, closed-end funds (CEFs), to do it.

Pavel Adashkevich/iStock via Getty Images Right now, one risk area that I see for a segment of the economy would be the commercial real estate market. Specifically, I'm talking about the office space. The COVID-19 pandemic created a surge in work-from-home opportunities. But even though we have seen some backtracking on that from corporations since the pandemic ended, there has been an elevated rate of vacancy in office properties across the nation. This is problematic in and of itself. At first glance, however, it might seem as though there are some bright spots. And to some extent, I would say that's true. In fact, in the long run, we might actually see some recovery here. But when we dig deeper into the data, there are real stresses occurring here. And those could weigh on the economy more broadly. This is the last thing that we need when, as I have detailed in other articles like here and here , we are already dealing with an oncoming recession and what appears to be an AI bubble, respectively. To me, this justifies even more pessimism. And I think investors would be wise to tread cautiously. America’s office problem Different sources give different estimates as to what the office vacancy rate is in the U.S. right now. But perhaps the best and most reliable source would be Cushman & Wakefield. As the chart below illustrates, since the third quarter of 2024, we have seen an office vacancy rate that has been remarkably consistent. It currently stands at about 20.2%. For context, it was somewhere around 16% to 17% back in 2022. But in 2020, it was closer to 14%. So we have seen a general uptrend here. But the fact that it is showing signs of stabilizing is promising. Author - Data from Cushman & Wakefield There are some other positive indicators that investors should be aware of. In the aforementioned chart, you can also see what asking rents are on a per square foot basis. These are annual figures and show what owners are asking tenants to pay. This is also showin...

EvgeniyShkolenko/iStock via Getty Images Investment thesis update In my February 2025 coverage , flagged operational execution risks at Moog Inc ( MOG.A ), specifically on negative free cash flow of $165 million, single-digit revenue growth, and a defense spending environment clouded by DOGE-related budget noise at the time. However, as the market narrative shifted, the stock price outperformed the market, returning over 70%. While the macro environment backdrop is no longer the concern, as free cash flow has turned sharply positive and revenue growth has nearly tripled, the reason for my renewed Hold rating is that, share price has caught up with the optimism and reflects a near-perfect execution. The reasonable target price is at the range of $280 - 300. The turnaround is complete The most impressive progress of the Company following my last coverage is cash flow. In Q1 FY2025, Moog was burning $165 million, which concerned me. In the first half of FY2026, operating cash flow came in at positive $84.8 million . Implied free cash flow reached approximately $19 million, a $182 million year-over-year improvement. The inventory overhang that previously constrained working capital has finally normalized. 6-month ended March 2026 6-month ended March 2025 Net cash provided (used) by operating activities 84,826 (92,894) Net cash provided (used) by investing activities (63,571) (58,957) Net cash provided (used) by financing activities 224,743 152,349 Increase (decrease) in cash, cash equivalents and restricted cash 246,019 (1,811) Click to enlarge The income statement is equally transformed. Q2 FY2026 delivered $1.05 billion in revenue , up 13% year-over-year, beating consensus by roughly $19 million. Adjusted EPS hit $2.64 , which beats consensus by $0.28 and up almost 50% since last year. This growth is impressive because of its breadth: Space & Defense grew 16% with margins expanding to 13.8% ; Military Aircraft grew 10%; Commercial Aircraft was up 15%; Industrial, whic...

Investors have brushed off several stock market headwinds in 2026 so far, pushing the S&P 500 (SNPINDEX: ^GSPC) to a new all-time high. Strong earnings expectations and optimism that the Iran conflict will resolve quickly have pushed investors to buy into weakness, leading to quick recoveries when the index dips. But investors mindlessly buying more stocks whenever prices dip may be making a mistake, according to billionaire investor Howard Marks. The head of Oaktree Capital just shared eight words every investor should hear before buying more stocks. Image source: Getty Images. Continue reading

专题：聚焦美股2026年第一季度财报 这家纸制品与包装企业预计二季度调整后 EBITDA 将下滑 国际纸业一季度实现扭亏为盈。 内容概要 国际纸业 一季度成功扭亏，但下调了本季度调整后息税折旧摊销前利润（EBITDA）预期，公司盘前股价下跌 5.1%。 国际纸业正准备将北美业务与海外业务分拆独立，公司一季度顺利扭亏为盈，但 下调了二季度调整后息税折旧摊销前利润（EBITDA） 盈利预期。 公司盘前股价下跌 5.1%，报 31.88 美元。 这家总部位于孟菲斯的造纸及包装企业公布： 一季度盈利 6000 万美元 ，每股收益 11 美分；上年同期亏损 1.05 亿美元，每股亏损 24 美分。 剔除一次性特殊项目后，公司 调整后每股收益 15 美分 ，高于分析师平均预期的 14 美分。 季度销售额同比增长 13%，至 59.7 亿美元 ，略低于市场预期的 60.2 亿美元。 北美板块营收有所下滑，但欧洲、中东和非洲业务营收大幅增长，抵消了北美业务的疲软；此外，冬季风暴也推高了北美地区的运营成本。 国际纸业董事长兼首席执行官安迪・西尔弗奈尔在声明中表示： “在北美市场，我们的商业举措已初见成效，业务增速跑赢大盘；同时降本工作稳步推进，造纸厂与纸箱工厂的生产效率实现显著提升。”他还透露，将北美业务与欧非中东业务分拆为两家独立公司的计划正有序推进。 二季度业绩指引： 公司预计调整后 EBITDA 区间为 5.2 亿 —5.7 亿美元 ，远低于去年同期的 7.33 亿美元，也低于华尔街分析师预期的 7.019 亿美元。 2026 全年展望： 调整后 EBITDA 预期 32 亿 —35 亿美元 ，分析师一致预期为 34 亿美元。 责任编辑：郭明煜

格隆汇4月30日｜4月30日，日本政府和日本央行通过买入日元、卖出美元干预外汇市场。当日，日元兑美元汇率一度跌至160以上，创19个月以来新低，随后反弹至155以上。一位政府官员向《日经新闻》证实了此次干预。

Lansing Street Advisors disclosed in a recent SEC filing that it established a new stake in BlackRock ETF Trust - iShares International Country Rotation Active ETF (NASDAQ:CORO) during the first quarter of 2026. The investment firm acquired 233,608 shares, with the estimated transaction value at $7.51 million based on the quarter’s average share price. The quarter-end position value also increased by $7.51 million, reflecting the new stake and any price movement. The BlackRock ETF Trust - iShares International Country Rotation Active ETF is designed to provide investors with access to a diversified portfolio of international equities by rotating country allocations based on quantitative models. Continue reading