Parliament’s failure to change the law on a difficult issue should be the spur to democratic innovation The prorogation of parliament on Wednesday signals the end of the road for the terminally ill adults (end of life) bill . The proposal to allow some patients in England and Wales, under very specific circumstances, to have medical assistance in ending their own lives was still at committee stage...
Parliament’s failure to change the law on a difficult issue should be the spur to democratic innovation The prorogation of parliament on Wednesday signals the end of the road for the terminally ill adults (end of life) bill . The proposal to allow some patients in England and Wales, under very specific circumstances, to have medical assistance in ending their own lives was still at committee stage in the Lords when the house rose. Since it was introduced as a private member’s bill, it cannot be carried over into the next session. Campaigners for assisted dying are furious at what they see as procedural obstruction by unelected peers, bogging the bill down with heaps of amendments and running down the clock , thwarting the will of the elected Commons. Critics of the bill counter that the normal legislative process was followed and that the volume of amendments was a function of poor drafting, leaving practical and ethical problems that had to be addressed in the Lords. Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here . Continue reading...
Bloomberg's Michelle Davis joins Dani Burger on "Bloomberg Deals." Jack Daniel’s owner Brown-Forman and Jameson whiskey maker Pernod Ricard SA terminated their merger talks, marking an abrupt end to a potential transatlantic deal that was aimed at contending with the industry’s downturn. (Source: Bloomberg)
Bloomberg's Michelle Davis joins Dani Burger on "Bloomberg Deals." Jack Daniel’s owner Brown-Forman and Jameson whiskey maker Pernod Ricard SA terminated their merger talks, marking an abrupt end to a potential transatlantic deal that was aimed at contending with the industry’s downturn. (Source: Bloomberg)
Shares are up again on Wednesday, and potential improvement in the money-losing foundry business is helping. The stock started from a low point with investors unsure whether the new CEO, Lip-Bu Tan, could turn things around. Wccftech reported that Alphabet will use Intel’s EMIB technology for its next-generation TPU chip.
Shares are up again on Wednesday, and potential improvement in the money-losing foundry business is helping. The stock started from a low point with investors unsure whether the new CEO, Lip-Bu Tan, could turn things around. Wccftech reported that Alphabet will use Intel’s EMIB technology for its next-generation TPU chip.
bomboman/iStock via Getty Images Introduction Transocean ( RIG ) is no longer the distressed driller some investors may remember. Debt has been reduced, cash flow has been restored, and the pending merger with Valaris ( VAL ) adds scale to an already large business. However, after a rally of 194% over the past year and at a forward P/E of 30x, much of this turnaround appears to have already been p...
bomboman/iStock via Getty Images Introduction Transocean ( RIG ) is no longer the distressed driller some investors may remember. Debt has been reduced, cash flow has been restored, and the pending merger with Valaris ( VAL ) adds scale to an already large business. However, after a rally of 194% over the past year and at a forward P/E of 30x, much of this turnaround appears to have already been priced in. This creates a nuanced setup where the company has improved and the operational progress is real, but upside from current levels requires stronger fundamentals than are currently shown. Back In Business For several years, Transocean was locked in a battle for survival, but it avoided bankruptcy through "distressed exchanges" in which bondholders were paid less than the original value of the bonds. In September 2025, after a series of downgrades, S&P revised its outlook for the company to stable. The latest earnings report, for Q4 and FY 2025 , showed considerable strength. For the full year, adjusted EBITDA reached roughly $1.37 billion, up some 20% year-over-year. Free cash flow came in at $626 million for the year, more than doubling the 2024 free cash flow of $294 million. Although Q4 earnings missed on EPS, the market mainly seems to have focused on the full-year positives, of which the most important may be the $1.3 billion debt reduction. The driller also managed to lower its interest expense by around $90 million, which can be put to work on further deleveraging. With net debt of $5.35 billion and a debt-to-equity ratio of 73.64% (considerably higher than peers), according to Seeking Alpha figures, the company is still quite heavily leveraged. This is something to keep an eye on going into the merger. The Valaris Deal The acquisition makes sense on paper, as a pro forma backlog of some $11 billion adds considerable revenue visibility and contract depth. Management expects around $200 million in mostly cost-related synergies, and the combined company will ha...
MicroStockHub/iStock via Getty Images I previously rated Rithm Capital Corp. (NYSE: RITM ) as a Buy in January 2026, attributed to the management's laser focus on delivering diversified mREIT/asset management growth opportunities. In this article, I shall discuss why I am reiterating my Buy rating for RITM, attributed to its rich dividend investment thesis before the potential upgrading from the i...
MicroStockHub/iStock via Getty Images I previously rated Rithm Capital Corp. (NYSE: RITM ) as a Buy in January 2026, attributed to the management's laser focus on delivering diversified mREIT/asset management growth opportunities. In this article, I shall discuss why I am reiterating my Buy rating for RITM, attributed to its rich dividend investment thesis before the potential upgrading from the increasingly diversified capabilities. RITM Delivers Diversified Monetization Trends RITM 1Y Stock Price (Trading View) Since my last Buy rating, RITM has underperformed the wider market, attributed to the macroeconomic uncertainties arising from the ongoing Iran conflict, with the elevated oil/gas prices expected to trigger an elevated inflationary pressure and a potential global recession in 2026. Given the mREIT's sensitivity to the elevated interest rates and the consequent credit risks, it is unsurprising that RITM has lost much of their recent gains, albeit bottoming during the worst of the March 2026 selloff and recovering in April 2026 as the Iran ceasefire negotiations continue . 1. mREIT Outperformance RITM's Performance Metrics (Seeking Alpha) This is significantly aided by RITM's relatively robust FQ1'26 performance metrics across: the net interest incomes of $31.21M ( +40.5% YoY , based on the difference between interest income and interest expense/warehouse line fees), and the gains on originated residential mortgage loans, held-for-sale, net at $208.25M (+30.3% YoY), ... with the richer spreads and the growing loan originations (across home improvement/refinancing/new origination for construction/purchases, amongst others) underscoring the resilience of its mREIT operations. This is on top of their fully hedged MSR portfolios working out as intended in reducing " mark-to-market volatility in a quarter when rates move or mortgage spreads tighten," as observed in the higher net servicing revenue on a QoQ/YoY basis. The same has been observed in RITM's growing fu...
You can understand the motivation – more UK investment by UK funds means faster UK growth – but fiduciary duty trumps all A simple principle lies at the heart of pension investment: the pension manager must invest in the best interest of the client. UK ministers have often wished UK funds would show more home bias by channelling more pensioners’ cash towards domestic assets in the interests of eco...
You can understand the motivation – more UK investment by UK funds means faster UK growth – but fiduciary duty trumps all A simple principle lies at the heart of pension investment: the pension manager must invest in the best interest of the client. UK ministers have often wished UK funds would show more home bias by channelling more pensioners’ cash towards domestic assets in the interests of economic growth, but the fundamental rule of the game has always been understood. You don’t mess with the fiduciary duty. Thus, when Rachel Reeves a year ago unveiled her Mansion House accord – a pledge by 17 of the biggest providers to earmark a slice of workplace pensions for UK private assets – it was made clear the arrangement was voluntary. What’s more, as the signatories emphasised, the commitment was “subject to fiduciary duty and the consumer duty” and “dependent on implementation by the government and regulators of critical enablers”. Continue reading...
Shares of Starbucks jumped 7% on Wednesday after the coffee giant reported a beat-and-raise quarter, which included greater visibility into CEO Brian Niccol's next phase of the turnaround: restoring profits. Investors were pleased with the results, which included several highlights, including Starbucks' first earnings beat in five quarters and only the second beat since the December 2023 result. I...
Shares of Starbucks jumped 7% on Wednesday after the coffee giant reported a beat-and-raise quarter, which included greater visibility into CEO Brian Niccol's next phase of the turnaround: restoring profits. Investors were pleased with the results, which included several highlights, including Starbucks' first earnings beat in five quarters and only the second beat since the December 2023 result. It was the first quarter of growth on both the top and bottom line in more than two years. But with the ship righted, Niccol acknowledged that investors will increasingly look for profit growth. Speaking on CNBC's "Squawk on the Street," Niccol said investors should begin to see some of the $2 billion in cost savings identified by management flowing through to profit margins in the second half of the year. "The team is crystal clear on who's accountable for what work in order to achieve those cost savings," Niccol said Wednesday. The optimism in Starbucks' margin recovery story is why Starbucks remains "the best non-data center stock" in the portfolio, Jim Cramer said during the Morning Meeting for Club members on Wednesday. He also acknowledged that improving profitability is the key issue investors still need to see; once Starbucks shows consistent margin growth, the stock will go higher. Jeff Marks, director of portfolio analysis, added that cost savings should become more visible as the company annualizes its Green Apron service model strategy with commodity inflation pressures easing later this year. It will still be a tough challenge. Starbucks' turnaround under Niccol has shown progress in stabilizing same-store sales, but at a cost, as we detailed earlier this week . For the quarter, operating margin was 9.4%, in line with the consensus analyst estimate. But it's still a far cry from management's fiscal 2028 target of between 13.5% to 15%. In a Tuesday post-earnings note, analysts at Citigroup said the "sales at what cost" debate still lives on, arguing that investor...
Shares of Starbucks (NASDAQ: SBUX) charged out of the gate on Wednesday, surging as much as 10.3%. As of 1:45 p.m. ET, the stock was still up 8.3%. The catalyst that sent the coffee purveyor higher was the company's financial results, which suggested its turnaround has reached a tipping point. Image source: The Motley Fool. Continue reading
Shares of Starbucks (NASDAQ: SBUX) charged out of the gate on Wednesday, surging as much as 10.3%. As of 1:45 p.m. ET, the stock was still up 8.3%. The catalyst that sent the coffee purveyor higher was the company's financial results, which suggested its turnaround has reached a tipping point. Image source: The Motley Fool. Continue reading
Earnings Call Insights: SiteOne Landscape Supply (SITE) Q1 2026 Management View “We are pleased with our first quarter 2026 performance as we overcame the weather and market-related softness in sales volume and delivered 14% adjusted EBITDA growth compared to the prior year period with meaningful gross margin expansion and tight SG&A management,” said Doug Black (President, Chairman of the Board &...
Earnings Call Insights: SiteOne Landscape Supply (SITE) Q1 2026 Management View “We are pleased with our first quarter 2026 performance as we overcame the weather and market-related softness in sales volume and delivered 14% adjusted EBITDA growth compared to the prior year period with meaningful gross margin expansion and tight SG&A management,” said Doug Black (President, Chairman of the Board & CEO), while adding that the company acquired “Reinders, a strong fifth-generation market leader in irrigation, agronomics and landscape lighting in the Midwest, which will contribute to our growth this year.” Black said April trends improved but cautioned that “with the recent increase in macroeconomic uncertainty, we believe that our end markets could continue to be soft this year,” while also flagging a pricing tailwind: “we expect pricing to be stronger, which will benefit organic sales growth and gross margin expansion.” Eric Elema (Executive VP, CFO & Assistant Secretary) tied Q1 performance to pricing and mix, saying, “Organic daily sales decreased 1% as a result of a 4% decline in volume, partially offset by a 3% increase in pricing,” and added that the company “now expect prices to contribute 2% to 3% to 2026 sales growth.” Daniel Laughlin (Senior VP of Strategy & Development and Executive Officer) detailed the quarter’s deals, including that Reinders “significantly expands our presence in the Midwest and strengthens our capabilities in irrigation and agronomics,” and that “the Reinders leadership team will remain with the business.” Black highlighted a leadership transition in M&A: “Scott Salmon… retired from his role last month,” and “Daniel Laughlin” is “stepping into the role to lead our strategy and acquisition efforts going forward.” Outlook Black maintained a full-year organic growth stance while updating market assumptions: “Overall, we continue to expect low single-digit growth in organic daily sales for the year,” supported by “2% to 3% growth in pricing,...
In an order denying Sam Bankman-Fried's request for a new trial, a judge accused the disgraced FTX founder of wasting precious court resources on wild conspiracies. To the judge, the motion seemed like a last-ditch attempt to give himself a MAGA makeover that the Trump administration absolutely wasn't buying . Bankman-Fried was sentenced to 25 years in prison in 2024 for "masterminding one of the ...
In an order denying Sam Bankman-Fried's request for a new trial, a judge accused the disgraced FTX founder of wasting precious court resources on wild conspiracies. To the judge, the motion seemed like a last-ditch attempt to give himself a MAGA makeover that the Trump administration absolutely wasn't buying . Bankman-Fried was sentenced to 25 years in prison in 2024 for "masterminding one of the largest financial frauds in American history," US District Judge Lewis Kaplan wrote in his order. He was convicted on all charges, including wire fraud, conspiracy to commit securities fraud, commodities fraud, and money laundering. There is already an appeal pending in another court, the judge noted. But Bankman-Fried filed a separate motion for a new trial, claiming that there were "newly discovered" witnesses and evidence that might have helped his defense, if Joe Biden's Department of Justice hadn't intimidated them into refusing to testify or, in one case, lying on the stand. He also asked for a new judge, wanting Kaplan to recuse himself. Read full article Comments
Meta Platforms is set to report first-quarter results later today, offering the latest report card for the tech giant's massively expensive efforts to become an AI leader. Meta stock traded sideways in afternoon trading. The Q1 results offer a chance for Meta to highlight how its AI investments are boosting its growth.
Meta Platforms is set to report first-quarter results later today, offering the latest report card for the tech giant's massively expensive efforts to become an AI leader. Meta stock traded sideways in afternoon trading. The Q1 results offer a chance for Meta to highlight how its AI investments are boosting its growth.
Earnings Call Insights: Artisan Partners Asset Management (APAM) Q1 2026 Management View “Firm-wide net outflows in the first quarter were $3.1 billion,” Jason Gottlieb said (CEO Jason Gottlieb), adding that “outflows were concentrated in a few equity strategies where we saw clients derisking, reallocating after periods of asset class outperformance and some shifting to passive alternatives.” Gott...
Earnings Call Insights: Artisan Partners Asset Management (APAM) Q1 2026 Management View “Firm-wide net outflows in the first quarter were $3.1 billion,” Jason Gottlieb said (CEO Jason Gottlieb), adding that “outflows were concentrated in a few equity strategies where we saw clients derisking, reallocating after periods of asset class outperformance and some shifting to passive alternatives.” Gottlieb emphasized offsetting areas of demand, stating, “Year-to-date, we have net inflows in 13 of our investment strategies,” including that “the Sustainable Emerging Market strategy raised $250 million in the first quarter and assets under management are nearing $3 billion,” and “we have continued our multiyear success in growing our credit businesses with $800 million of net inflows in the first quarter… our 15th consecutive quarter of positive credit flows” (CEO Gottlieb). On platform expansion, Gottlieb said, “In the first quarter, we onboarded Grandview Property Partners… and laid the groundwork to launch the team's next flagship fund later this year,” and added, “we… filed an exemptive relief application with the SEC to offer ETF share classes of Artisan mutual funds” (CEO Gottlieb). Charles Daley said (CFO Charles Daley), “Revenues were $303 million, down 10% from the December quarter,” and attributed the sequential change primarily to “the expected absence of performance fees as the December quarter included $29 million of performance fees,” plus “approximately $6 million… due to 2 fewer days in the first quarter of 2026.” Outlook Daley said (CFO Daley), “Our full year 2026 expense guidance remains unchanged,” and added, “excluding approximately $20 million of incremental fixed expenses related to long-term incentive compensation and Grandview, we continue to expect fixed expenses to increase at low single-digit rate in 2026.” Gottlieb framed near-term business mix expectations, saying, “We expect to see continued strong business development in credit and alternative...
Earnings Call Insights: Teradyne (TER) Q1 2026 Management View Gregory Smith said Teradyne delivered “revenue of approximately $1.3 billion and non-GAAP EPS of $2.56” and called Q1 2026 “record results,” adding that “AI-related demand accounted for nearly 70% of our revenue, up from about 60% in Q4 of 2025.” CEO Smith emphasized that the “Wafer to AI data center strategy is delivering demand acros...
Earnings Call Insights: Teradyne (TER) Q1 2026 Management View Gregory Smith said Teradyne delivered “revenue of approximately $1.3 billion and non-GAAP EPS of $2.56” and called Q1 2026 “record results,” adding that “AI-related demand accounted for nearly 70% of our revenue, up from about 60% in Q4 of 2025.” CEO Smith emphasized that the “Wafer to AI data center strategy is delivering demand across Teradyne's portfolio,” while also warning that increased customer and program concentration means “it's lumpy growth.” Smith said Teradyne “received our first multisystem production test orders for merchant GPU in Q1” and that the company expects these systems “to ship, be installed and be in production in Q2,” framing this as an early step toward broader GPU share capture over time. On new products tied to AI infrastructure test needs, Smith introduced “Photon100,” describing it as “our platform for silicon photonics and co-packaged optics testing,” and introduced “Omnyx,” “a new production board test platform designed to address the unique set of test challenges for server boards and tray assemblies.” Quote (VP, CFO, Treasurer & Principal Accounting Officer Michelle Turner) “First quarter sales were $1.282 billion with non-GAAP EPS of $2.56, both above the high end of our guidance range.” Outlook Quote (VP, CFO, Treasurer & Principal Accounting Officer Michelle Turner) “For the quarter, we expect revenue in the range of $1.15 billion to $1.25 billion and non-GAAP EPS of $1.86 to $2.15.” Turner guided Q2 gross margin to “58% to 59% normalized for peak volumes and onetime benefits,” with operating expenses “approximately 27% to 28% of second quarter sales,” and a non-GAAP operating profit rate “between 30% and 32%.” Turner said Teradyne “continue[s] to expect first half weighted revenue with approximately 55% to 60% of annual revenue expected in the first half,” calling it an “expanded range from 3 months ago” that balances “continued strong demand signals” with “potentia...
pedrosala/iStock via Getty Images Capital expenditure growth is a key indicator of how aggressively a company is investing in its future, whether through new infrastructure, equipment, technology, or capacity expansion. The following list ranks U.S. utilities stocks by their year-over-year CapEx growth percentage, offering a data-driven look at which companies are putting the most capital to work ...
pedrosala/iStock via Getty Images Capital expenditure growth is a key indicator of how aggressively a company is investing in its future, whether through new infrastructure, equipment, technology, or capacity expansion. The following list ranks U.S. utilities stocks by their year-over-year CapEx growth percentage, offering a data-driven look at which companies are putting the most capital to work relative to the prior year. Below is a list of 10 U.S. utilities stocks ranked according to their year-over-year capital expenditure growth percentage. The list spans multiple sub-sectors within utilities, including Electric Utilities, Multi-Utilities, Gas Utilities, and Water Utilities. Oklo ( OKLO ) tops the list by an enormous margin with a CapEx growth rate of 9,333.24% year-over-year, investing $33.2 million in fiscal 2025 capital expenditures compared to just $352,000 in the prior year, a near-zero base effect that reflects the advanced nuclear company's shift from pure R&D into active site preparation and infrastructure buildout as it works toward commercializing its Aurora microreactor technology. NRG Energy ( NRG ) and WEC Energy Group ( WEC ) follow in a more conventional second and third place with growth rates of 143.01% and 58.14% respectively, while Xcel Energy ( XEL ) and MDU Resources ( MDU ) round out the top five at 48.13% and 47.35%. American Electric Power ( AEP ) and MGE Energy ( MGEE ) occupy the sixth and seventh positions with CapEx growth of 47.32% and 44.86%, while PPL Corporation ( PPL ) and The Southern Company ( SO ) follow at 43.67% and 42.23%. H2O America ( HTO ) rounds out the list at 38.69%, having dramatically expanded its five-year CapEx plan by 31% to $2.7 billion through 2030, driven by accelerated pipeline replacement, PFAS water treatment investments, and Texas expansion, with an expected 13% compound annual rate base growth through the period. American Electric Power ( AEP ) stands as the sole Buy at 4.27, while MDU Resources ( MDU ) ...