As the Supreme Court weighs the Trump administration's termination of Temporary Protected Status for Haitians and Syrians, seniors are advocating for protections for their immigrant caregivers. (Image credit: Andrea Hsu)
As the Supreme Court weighs the Trump administration's termination of Temporary Protected Status for Haitians and Syrians, seniors are advocating for protections for their immigrant caregivers. (Image credit: Andrea Hsu)
Fed Chair Pick Warsh Approved By Key Senate Committee Along Party Lines The drama over Kevin Warsh's nomination as Trump's pick for next Fed chair appears to be over. Moments ago, Warsh won the backing of the Senate Banking Committee Wednesday in a 13-11 party-line vote, putting him on track to be confirmed by the full Senate before Jerome Powell’s term ends May 15, Bloomberg reproted. Warsh’s nom...
Fed Chair Pick Warsh Approved By Key Senate Committee Along Party Lines The drama over Kevin Warsh's nomination as Trump's pick for next Fed chair appears to be over. Moments ago, Warsh won the backing of the Senate Banking Committee Wednesday in a 13-11 party-line vote, putting him on track to be confirmed by the full Senate before Jerome Powell’s term ends May 15, Bloomberg reproted. Warsh’s nomination had been held up by Republican Senator Thom Tillis until the Department of Justice agreed last week to drop (for now) a criminal probe into cost overruns in a renovation of the Fed’s Washington headquarters. Tillis, who saw the probe as “bogus” and a threat to the Fed’s independence on monetary policy, said in an interview on NBC’s “Meet the Press” that he received assurances the department wouldn’t reopen the case unless the Fed’s inspector general, who is also reviewing the project, sends a criminal referral. As expected, Democrats weren’t won over: Senator Elizabeth Warren warned that Trump is still intent on controlling the Fed; Democrats have also demanded an end to a legal pursuit of Fed Governor Lisa Cook. “The stink of stagflation is in the air,” Warren said. She said confirmation of Warsh would help Trump dominate the Fed’s monetary policy. “Trump has not been subtle about his takeover,” she said. The vote makes real the prospect of a Warsh-led Fed that promises the biggest shake up of the US central bank in years. Having raised the prospect of “regime change” as part of his bid to win Trump’s nomination, Warsh has promised to shrink the Fed’s $6.7 trillion balance sheet, establish a new framework for managing inflation and change how the central bank communicates with the public. He has, however, offered few details on how he might pursue each of these goals. Warsh is almost certain to face heavy pressure from Trump over monetary policy. In a CNBC interview on April 21, the president said he’d be disappointed if Warsh didn’t cut rates as soon as he took of...
JHVEPhoto/iStock Editorial via Getty Images Earnings season rolls on. Stanley Black & Decker ( SWK ) reported solid Q1 results on Wednesday, April 29. Shares were little changed later in the morning, and the same goes when zooming out to the past few years. I had a "B uy" rating on SWK back in October 2024. Shares are down 22% since then, lagging the S&P 500 by some 45 percentage points. But I sti...
JHVEPhoto/iStock Editorial via Getty Images Earnings season rolls on. Stanley Black & Decker ( SWK ) reported solid Q1 results on Wednesday, April 29. Shares were little changed later in the morning, and the same goes when zooming out to the past few years. I had a "B uy" rating on SWK back in October 2024. Shares are down 22% since then, lagging the S&P 500 by some 45 percentage points. But I still see value in this Industrial name with consumer exposure. With a low-teens multiple, the chart is not as desirable. I’ll detail Q1, SWK’s fundamentals and valuation, and offer a refreshed look at the chart. SWK Has Rallied Recently, But Remains Well Below Its Early-Year High Stockcharts.com In April, SWK reported a healthy set of quarterly results. Q1 non-GAAP EPS of $0.80 topped the Wall Street consensus forecast of $0.59, while revenue of $3.85 billion, up 3% from the same quarter a year earlier, was a notable $100 million beat. The company expects FY 2026 GAAP EPS to be in the range of $4.15 to $5.35. Shares traded higher by just 0.3% ahead of the open after earnings. If the gain holds by the close of trading on the penultimate day of April, it would mark the third consecutive post-earnings rally. The options market had priced in a moderate 6.5% earnings-related stock price swing based on the at-the-money straddle expiring soonest after the report. Implied volatility on SWK should now retreat from 54%, while short interest on the Industrials-sector stock is material at 4.1%. Looking back on the quarter that was, it was a decent start to 2026 for SWK. Results appeared on track to meet the firm’s annual financial targets. Organic revenue was about flat, as a 3% increase in price was offset by a 3% decline in volume. Moreover, the company tallied adjusted EPS of $0.80 over the January through March stretch and completed the divestiture of its Consolidated Aerospace Manufacturing ( CAM ) business for approximately $1.6 billion, using the majority of the proceeds to reduce...
Earnings Call Insights: Bunge Global SA (BG) Q1 2026 Management View “The first quarter of 2026 was one of the more rapidly changing operating environments we've seen in recent years” (CEO Gregory Heckman), citing “meaningfully disrupted global trade flows, logistics costs and supply chains” from the Middle East conflict and saying Bunge is responding by “maintaining flexibility in shipping arrang...
Earnings Call Insights: Bunge Global SA (BG) Q1 2026 Management View “The first quarter of 2026 was one of the more rapidly changing operating environments we've seen in recent years” (CEO Gregory Heckman), citing “meaningfully disrupted global trade flows, logistics costs and supply chains” from the Middle East conflict and saying Bunge is responding by “maintaining flexibility in shipping arrangements” and “leveraging our global capabilities and regional capillarity to continue serving customers reliably” (CEO Heckman). “The first quarter exceeded our expectations” (CEO Gregory Heckman), and he attributed the upside primarily to “soybean and softseed processing and refining segments,” while noting Grain Merchandising was “impacted by distribution-related factors, including higher logistics and energy costs,” which he said also “drove higher demand for renewable feedstocks” (CEO Heckman). “We are increasing our full year adjusted EPS guidance range to $9 to $9.50, and that's up from the $7.50 to $8 we provided on our fourth quarter call” (CEO Gregory Heckman). “Our reported first quarter earnings per share was $0.35” and “Adjusted EPS was $1.83” (Executive VP & CFO John Neppl), with “an unfavorable mark-to-market timing difference of $1.28 per share and an unfavorable impact of $0.20 related to Viterra transaction and integration costs” in reported results (Executive VP & CFO Neppl). “Viterra cost synergies are running ahead of plan, and we've identified significant network and commercial opportunities” (CEO Gregory Heckman), and he highlighted that “in March, we announced the closing of our acquisition of IFF's soy protein, lecithin and processing business” (CEO Heckman). Outlook “We now expect full year 2026 adjusted EPS in the range of $9 to $9.50, which is up from our previous range of $7.50 to $8” (Executive VP & CFO John Neppl), while adding, “significant uncertainty remains, particularly in the second half of the year” (Executive VP & CFO Neppl). “Soybean an...
A fully-laden Japan-linked oil tanker completed a rare transit of the Strait of Hormuz, as the effective closure of the waterway to most international traffic enters its third month. The supertanker Idemitsu Maru , loaded with about 2 million barrels of Saudi crude and headed for Japan, exited the Persian Gulf on Tuesday following the Tehran-approved route that runs close to Iran’s Qeshm and Larak...
A fully-laden Japan-linked oil tanker completed a rare transit of the Strait of Hormuz, as the effective closure of the waterway to most international traffic enters its third month. The supertanker Idemitsu Maru , loaded with about 2 million barrels of Saudi crude and headed for Japan, exited the Persian Gulf on Tuesday following the Tehran-approved route that runs close to Iran’s Qeshm and Larak Islands. It was the only non-Iranian very large crude carrier to leave the region in 10 days and the first tanker linked to Japan to cross since the strait effectively closed in late-February. Tehran’s blocking of the waterway that previously carried about one-fifth of the world’s oil and important quantities of liquefied natural gas and other commodities is heading into its third month with no sign of easing. A retaliatory blockade of Iranian shipping by the US Navy has brought traffic into and out of the Persian Gulf to an almost complete halt. The ban on Iranian shipping, now effectively confined to the Persian Gulf and the Gulf of Oman by US frigates, has left Tehran relying on a fleet of aging tankers to store the crude that it can’t export. Attention remains focused on diplomatic efforts to ease tensions, even as US President Donald Trump told aides to prepare for an extended blockade , while Tehran insists it won’t resume negotiations or reopen the strait as long as the US naval restrictions stay in place. Ship Movements In addition to the one VLCC, the only other ships to leave the Gulf since Tuesday morning were three bulk carriers, a chemical carrier, and LPG tanker and one container ship, according to vessel-tracking data compiled by Bloomberg. Two bulk carriers also entered the Gulf carrying food supplies to Iran. The few Iran-linked ships that exited the strait in recent days didn’t get beyond the eastern end of the Gulf of Oman. It isn’t yet clear whether those vessels were scheduled for regional stops or have been forced to wait out the blockade . Vessels tr...
Wall Street is rallying behind Starbucks (NASDAQ:SBUX) after a Q2 FY2026 earnings report that the CEO calls the inflection point of the company’s turnaround. Four major firms raised their SBUX stock price targets following the April 28 release, with global comparable store sales rising 6% and North America (NA) comps climbing 7%. The takeaway for ... Wall Street Lifts Starbucks Price Targets as Co...
Wall Street is rallying behind Starbucks (NASDAQ:SBUX) after a Q2 FY2026 earnings report that the CEO calls the inflection point of the company’s turnaround. Four major firms raised their SBUX stock price targets following the April 28 release, with global comparable store sales rising 6% and North America (NA) comps climbing 7%. The takeaway for ... Wall Street Lifts Starbucks Price Targets as Comps Surge: Is the Turnaround Finally Real?
Vladislav Stepanov/iStock via Getty Images Introduction Celcuity’s ( CELC ) Gedatolisib has shown outstanding data in a phase 3 trial called VIKTORIA-1 in HR-positive HER2 negative advanced breast cancer patients. The market is large and there’s a key unmet need. However, at its current market cap of ~$6B, Celcuity is already being priced to achieve a good portion of this opportunity. As will be s...
Vladislav Stepanov/iStock via Getty Images Introduction Celcuity’s ( CELC ) Gedatolisib has shown outstanding data in a phase 3 trial called VIKTORIA-1 in HR-positive HER2 negative advanced breast cancer patients. The market is large and there’s a key unmet need. However, at its current market cap of ~$6B, Celcuity is already being priced to achieve a good portion of this opportunity. As will be shown below, the market is already assuming ~$1–1.5B in peak sales, corresponding to a moderate penetration. Management, on the other hand, has guided to a ~$2.5B peak revenue figure, which implies closer to a ~20% share of the market. As I will show, this figure represents my own bull case scenario. This gap is the entire investment case. The current data in wild type patients supports a potentially best-in-class profile, particularly given the safety profile compared to PI3K-alpha inhibitors. The remaining question is whether this extends to the PIK3CA-mutant population, with data from the cohort planned for release in Q2 2026. This is a major catalyst for CELC stock. Business Overview Celcuity has a single key oncology asset, gedatolisib, a pan-PI3K/mTOR inhibitor targeting the PI3K/AKT pathway. Some of its peers, like alpelisib or inavolisib, target selective isoforms. Gedatolisib is able to inhibit multiple nodes, which may explain its effectiveness in both PIK3CA-mutant and wild-type disease. The company right now has an ongoing phase 3 trial called VIKTORIA-1. This will provide support for the NDA. This is the near term value driver, and I would expect approval in 2027 once they get the mutant cohort data in Q2, hopefully submit an NDA by end-2026. They have another trial called VIKTORIA-2 in 1L setting, and early stage work in prostate cancer. Those are optional, but currently, the entire company is tied to VIKTORIA-1 data. Cash Runway Celcuity is pre-commercial so it doesn’t have revenue. It is burning ~$170–180M annually at the current run rate. The company reporte...
In this article BN BN Follow your favorite stocks CREATE FREE ACCOUNT Bill Ackman, Founder and CEO, Pershing Square Capital Management speaks about higher education and Harvard University during at the 28th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 6, 2025. Patrick T. Fallon | Afp | Getty Images Bill Ackman's long-awaited push into public m...
In this article BN BN Follow your favorite stocks CREATE FREE ACCOUNT Bill Ackman, Founder and CEO, Pershing Square Capital Management speaks about higher education and Harvard University during at the 28th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 6, 2025. Patrick T. Fallon | Afp | Getty Images Bill Ackman's long-awaited push into public markets is set to debut Wednesday, marking a scaled-back but still ambitious step toward building a Berkshire Hathaway-like investment platform. The Pershing Square Capital Management founder's combined initial public offering raised $5 billion, pricing at the low end of expectations after marketing a deal that initially targeted between $5 billion and $10 billion. The haul is a far cry from earlier ambitions floated two years ago to raise as much as $25 billion. The transaction creates two separately traded entities on the New York Stock Exchange: closed-end fund Pershing Square USA Ltd., which will trade under the ticker PSUS, and asset manager Pershing Square Inc., listed as PS. The dual structure allows investors to gain exposure either to the underlying portfolio or to the management business itself. Zoom In Icon Arrows pointing outwards "Hedge funds are sort of known for managing money for rich people. And now we have the opportunity for someone with $50, could be a long term shareholder," Ackman said on CNBC's " Squawk on the Street " Wednesday. "Usually, the retail gets cut massively back, the institutions are favored. We did the opposite." Shares of the closed-end fund were priced at $50 apiece, with the offering structured to appeal to both institutional and retail investors and notably omitting performance fees. Investors in PSUS will also receive bonus shares in Pershing Square Inc., tying the two vehicles together while maintaining separate trading. The listing gives public investors their first direct stake in Ackman's investment platform, which runs a concentr...
OMAH paid out $0.23225 per share yesterday, the latest in a string of monthly distributions designed to hit a 15% annualized yield. With shares at $18, that headline number is roughly four times what an investor can earn on a 4% 10-year Treasury. Yields that wide demand scrutiny. How OMAH Manufactures a 15% Yield The ... OMAH’s 15% yield looks real, but volatility is the hidden timer
OMAH paid out $0.23225 per share yesterday, the latest in a string of monthly distributions designed to hit a 15% annualized yield. With shares at $18, that headline number is roughly four times what an investor can earn on a 4% 10-year Treasury. Yields that wide demand scrutiny. How OMAH Manufactures a 15% Yield The ... OMAH’s 15% yield looks real, but volatility is the hidden timer
Roman Tiraspolsky/iStock Editorial via Getty Images Blackstone ( BX ) is forming a new West Coast-based unit, Blackstone N1, which will focus on the company's artificial intelligence portfolio, Bloomberg News reported on Wednesday. The New York-based alternative asset manager's AI portfolio includes OpenAI ( OPENAI ) and Anthropic ( ANTHRO ), the report noted. The unit is expected to back AI and h...
Roman Tiraspolsky/iStock Editorial via Getty Images Blackstone ( BX ) is forming a new West Coast-based unit, Blackstone N1, which will focus on the company's artificial intelligence portfolio, Bloomberg News reported on Wednesday. The New York-based alternative asset manager's AI portfolio includes OpenAI ( OPENAI ) and Anthropic ( ANTHRO ), the report noted. The unit is expected to back AI and high-growth tech bets and serve as a centralized resource on AI investing for other units, an internal memo seen by Bloomberg noted. Veteran executive Jas Khaira will reportedly lead Blackstone N1, and relocate to San Francisco from New York for the new role. The move reportedly marks the second by Blackstone since 2023, when the company consolidated its credit and insurance units into a single business. More on Blackstone A Rare Chance To Buy Blackstone's $1.3 Trillion Empire At A Deep Discount Blackstone Inc. (BX) Q1 2026 Earnings Call Transcript Blackstone Inc. 2026 Q1 - Results - Earnings Call Presentation Ares to buy Rover gas pipeline stake from Blackstone - Reuters Earnings scoreboard for financials: 18 of 19 companies see Y/Y growth in earnings
A new European proposal is trying to put an end to doomscrolling. It’s a worthy goal, says Bloomberg Opinion columnist Parmy Olson. But will it happen? (Source: Bloomberg)
A new European proposal is trying to put an end to doomscrolling. It’s a worthy goal, says Bloomberg Opinion columnist Parmy Olson. But will it happen? (Source: Bloomberg)