(RTTNews) - European stocks closed lower on Wednesday with investors reacting to a slew of earnings updates and assessing the situation in the Middle East, while awaiting the interest rate decision from the Federal Reserve later in the day, and the monetary policy announcements f
(RTTNews) - European stocks closed lower on Wednesday with investors reacting to a slew of earnings updates and assessing the situation in the Middle East, while awaiting the interest rate decision from the Federal Reserve later in the day, and the monetary policy announcements f
Robinhood (NASDAQ: HOOD) stock is getting hit with big sell-offs Wednesday following the company's latest quarterly report. The company's share price was down 14.3% as of 1:15 p.m. ET. At the same point in the daily session, the S&P 500 was down 0.3%, and the Nasdaq Composite was down 0.4%. Robinhood published its first-quarter results after the market closed yesterday, posting sales and earnings ...
Robinhood (NASDAQ: HOOD) stock is getting hit with big sell-offs Wednesday following the company's latest quarterly report. The company's share price was down 14.3% as of 1:15 p.m. ET. At the same point in the daily session, the S&P 500 was down 0.3%, and the Nasdaq Composite was down 0.4%. Robinhood published its first-quarter results after the market closed yesterday, posting sales and earnings that fell short of the market's expectations. As of this writing, the stock is now down roughly 38% in 2026. Image source: Getty Images. Continue reading
The two-month war with Iran has cost about US$25 billion, a Pentagon official told lawmakers on Wednesday, as US Defence Secretary Pete Hegseth defended a record $1.5 trillion military budget that faces backlash from Democrats. At a House Armed Services Committee hearing on Wednesday, Jules Hurst III, the Pentagon’s chief financial officer, offered the first official estimate of the cost of the wa...
The two-month war with Iran has cost about US$25 billion, a Pentagon official told lawmakers on Wednesday, as US Defence Secretary Pete Hegseth defended a record $1.5 trillion military budget that faces backlash from Democrats. At a House Armed Services Committee hearing on Wednesday, Jules Hurst III, the Pentagon’s chief financial officer, offered the first official estimate of the cost of the war in Iran. He said that most of the US$25 billion in spending went towards ammunition, but the US...
All eyes are on the megacap growth earnings tonight and tomorrow, including five of the MAG 7 stocks. Here's what you need to know from a chart point of view. A familiar bullish chart formation First, let's take a close look at the MAGS ETF , itself. Similar to the SPX , NDX , and XLK , the ETF has rebounded sharply from the March lows — but MAGS has yet to break out to new highs. Unlike XLK, MAGS...
All eyes are on the megacap growth earnings tonight and tomorrow, including five of the MAG 7 stocks. Here's what you need to know from a chart point of view. A familiar bullish chart formation First, let's take a close look at the MAGS ETF , itself. Similar to the SPX , NDX , and XLK , the ETF has rebounded sharply from the March lows — but MAGS has yet to break out to new highs. Unlike XLK, MAGS includes components not strictly classified as technology, which has weighed on its relative performance. The ETF has rallied back to levels from earlier this year, leaving it roughly flat since last October — essentially two earnings cycles of sideways action. While the recent move has been extended in the short term, it follows a period of notable underperformance, meaning there was significant ground to recover to simply return to those former levels. Looking back to last spring, a similar setup emerged — though over a shorter timeframe. The breakout through the neckline a year ago led to a steady and consistent uptrend that ultimately peaked in late October. This time is different for a few reasons. First, MAGS already is back above its 200-day moving average and second — the ETF is much closer to its prior highs than it was last year. Further, the gap higher last May pushed the ETF into overbought territory for the first time but did not trigger a meaningful sell-off. We are now seeing a similar dynamic, with MAGS recently reaching overbought levels again. While that has limited further upside for now, it has not led to a breakdown either. As a result, the right shoulder of a potential inverse head-and-shoulders pattern appears to have formed. MAGS vs. SPX: Not that extended Despite the ETF still not yet surpassing its prior high, MAGS has outperformed the SPX over the last few weeks off the lows. That relative strength began right after the ratio line tested and held a key uptrend drawn from the late-2023 low. As shown here, each time MAGS has pulled back meaningfull...
Warren Buffett built his legacy investment practices on a simple premise: investing in businesses with durable demand, strong economics, and long-term relevance. In other words, Berkshire Hathaway ( BRK.A ) was built on businesses that enjoyed wide economic moats. While most investors associate Mr. Buffett with iconic holdings like Wells Fargo and Coca-Cola, one of his most strategic and underappr...
Warren Buffett built his legacy investment practices on a simple premise: investing in businesses with durable demand, strong economics, and long-term relevance. In other words, Berkshire Hathaway ( BRK.A ) was built on businesses that enjoyed wide economic moats. While most investors associate Mr. Buffett with iconic holdings like Wells Fargo and Coca-Cola, one of his most strategic and underappreciated investments is centered on America’s housing crisis. In 2003, when Berkshire Hathaway acquired Clayton Homes for $1.7 billion, it was a little-known deal; however, these days, considering the ongoing affordability crisis, Buffett’s bet seems like a stroke of genius. Today, affordability has become one of the most pressing economic challenges in the U.S., as traditional homebuilders have struggled to deliver supply at price points accessible to the median American, leaving a growing gap between income and homeownership. Of course, manufactured housing fills that gap because these homes offer significantly lower cost per square foot, faster construction timelines, comparable quality with modern building standards, and a pathway to ownership for millions priced out of traditional housing. The Demand Drivers: A Perfect Storm of Tailwinds I know of no other property sector that has such strong demand drivers, and one of the most obvious is the sticky customer base. Residents typically own their homes and lease the land, creating high friction to move. The result is annual move-outs of just ~0.4%, stable occupancy across economic cycles, and predictable, growing net operating income (NOI). Another demand driver, as I mentioned earlier, is affordability: manufactured housing costs 50% less to build than traditional single-family rentals. In addition, manufactured housing space is 25% larger than multifamily housing. In a world where housing costs continue to rise, manufactured housing delivers more for less, and that equation is hard to beat. Third, as already mentioned, t...
Earnings Call Insights: Garmin Ltd. (GRMN) Q1 2026 Management View "Consolidated revenue increased 14% to $1.75 billion, which is a new first quarter record." (President, CEO & Director Clifton Pemble) "Gross and operating margins expanded to 59.4% and 24.6%, respectively, resulting in record first quarter operating income of $432 million, up 30% year-over-year and pro forma EPS of $2.08, up 29% y...
Earnings Call Insights: Garmin Ltd. (GRMN) Q1 2026 Management View "Consolidated revenue increased 14% to $1.75 billion, which is a new first quarter record." (President, CEO & Director Clifton Pemble) "Gross and operating margins expanded to 59.4% and 24.6%, respectively, resulting in record first quarter operating income of $432 million, up 30% year-over-year and pro forma EPS of $2.08, up 29% year-over-year." (President, CEO & Director Pemble) "With this in mind and consistent with our typical practice, we are maintaining the guidance issued in February, and we'll provide updates as the year unfolds." (President, CEO & Director Pemble) "The primary driver of our performance is higher unit volumes, resulting in meaningful market share gains." (President, CEO & Director Pemble) "The year-over-year margin compression was primarily due to higher tariff costs." (President, CEO & Director Pemble) "We continue to achieve important milestones leading up to the launch of our next large-scale program with Mercedes-Benz, which we anticipate will drive significant growth starting in 2027 and beyond." (President, CEO & Director Pemble) "We posted revenue of $1.753 billion for the first quarter, representing a 14% increase year-over-year." (CFO & Treasurer Douglas Boessen) Outlook "While the initial trends are encouraging, much of the year remains ahead." (President, CEO & Director Clifton Pemble) "Looking forward, we expect second quarter outdoor performance to be similar to that of Q1." (President, CEO & Director Pemble) "We also expect to achieve stronger performance in the back half of the year due to the timing of product launches, resulting in improved full year growth when compared to 2025." (President, CEO & Director Pemble) "We are very pleased with the performance of aviation during the first quarter, and we expect to achieve solid growth throughout the remainder of the year." (President, CEO & Director Pemble) "As a reminder, we expect auto OEM revenue to decrease i...
Earnings Call Insights: Delek US Holdings, Inc. (DK) Q1 2026 Management view "I'm extremely pleased with our strong execution in the first quarter" and the quarter reflected "disciplined and successful execution of Big Spring turnaround" plus "continued progress on increasing our free cash flow profile through restructuring of our intermediation agreement and continued success of EOP," according t...
Earnings Call Insights: Delek US Holdings, Inc. (DK) Q1 2026 Management view "I'm extremely pleased with our strong execution in the first quarter" and the quarter reflected "disciplined and successful execution of Big Spring turnaround" plus "continued progress on increasing our free cash flow profile through restructuring of our intermediation agreement and continued success of EOP," according to President, CEO & Director Avigal Soreq. CEO Soreq tied current market conditions to geopolitical disruption: "The events in Iran have created many ripple effects in the markets, resulting in around 10 million barrels of crude production and approximately 5 million barrels per day of refining capacity remaining offline," adding, "We believe the structural product shortage created in this event will continue to impact the market well after the conflict comes to an end." On operations and capital intensity, CEO Soreq said, "Big Spring successfully completed its planned turnaround" and "refinery is running at full capacity," and added, "With no further planned turnaround, we have the highest spending quarter behind us." On the enterprise optimization plan, CEO Soreq said, "We are once again raising our enterprise optimization plan target to at least $220 million on an annual run rate basis" and noted, "During the first quarter of 2026, we estimate approximately $60 million of EOP contribution to our P&L." On DKL and sum-of-the-parts, CEO Soreq said "DKL today reaffirmed its 2026 EBITDA guidance of $520 million to $560 million" and added, "In 2026, on a pro forma basis, with a continued growth in third-party cash flow, we expect DKL third-party EBITDA to exceed 80%" as part of a push toward "our deconsolidation goal." CFO Mark Hobbs reported, "For the first quarter, Delek had a net loss of $201 million or $3.34 per share," while "Adjusted net income was approximately $5 million or $0.08 per share and adjusted EBITDA was approximately $212 million." Outlook CFO Hobbs gave Q2 th...
Earnings Call Insights: Avantor (AVTR) Q1 2026 Management view "First quarter results exceeded our expectations due to improved execution in Bioscience and Medtech product segments, and we have reaffirmed our full year guidance." (President, CEO & Director Emmanuel Ligner) "VWR Distribution and Services generated $1.15 billion of revenue in the first quarter, down 5% organically versus the prior y...
Earnings Call Insights: Avantor (AVTR) Q1 2026 Management view "First quarter results exceeded our expectations due to improved execution in Bioscience and Medtech product segments, and we have reaffirmed our full year guidance." (President, CEO & Director Emmanuel Ligner) "VWR Distribution and Services generated $1.15 billion of revenue in the first quarter, down 5% organically versus the prior year." (President, CEO & Director Emmanuel Ligner) "the VWR e-commerce platform showed green shoots of improved performance in traffic, conversion and revenue growth following multiple upgrades as part of our digital road map as well as the successful relaunch of vwr.com." (President, CEO & Director Emmanuel Ligner) "BMP revenue was $431 million in the first quarter, down 2% organically versus the previous year." (President, CEO & Director Emmanuel Ligner) "BMP had a book-to-bill of more than 1.1x in the quarter." (President, CEO & Director Emmanuel Ligner) "We have moved quickly to refresh approximately 25% of this leadership group" and "Year-to-date, our overall head count is down approximately 2%." (President, CEO & Director Emmanuel Ligner) "Recently, we welcomed James Finn, our Chief Digital Officer" and "Ludovic Brellier will join us from Cytiva to lead BMP and serve as our Chief Transformation Officer." (President, CEO & Director Emmanuel Ligner) "Brent will depart Avantor next month." (President, CEO & Director Emmanuel Ligner) "In Q1, we generated $1.581 billion of revenue, which was down 4% on an organic basis and flat year-over-year on a reported basis." (Executive VP & CFO R. Jones) "Free cash flow in the period was $25 million. Excluding restructuring costs, free cash flow in the quarter was $39 million." (Executive VP & CFO Jones) Outlook "In Q2, we expect to generate adjusted EPS of between $0.19 and $0.20 per share." (Senior VP, Corporate Controller & Chief Accounting Officer Steven Eck) "we estimate that inflationary pressures stemming from the Middle East c...
Robert Way OpenAI ( OPENAI ) said on Wednesday that the next iteration of its developer conference, known as DevDay, would take place on Sept. 29. The event will be held in San Francisco, OpenAI added. It will be the fourth such event for the Sam Altman-led company, which recently completed its latest funding round, raising $122B from several investors. Following the round, OpenAI, best known for ...
Robert Way OpenAI ( OPENAI ) said on Wednesday that the next iteration of its developer conference, known as DevDay, would take place on Sept. 29. The event will be held in San Francisco, OpenAI added. It will be the fourth such event for the Sam Altman-led company, which recently completed its latest funding round, raising $122B from several investors. Following the round, OpenAI, best known for its ChatGPT generative AI chatbot, is valued at $852B. At last year's DevDay, OpenAI introduced a new way for users to interact with ChatGPT today with the launch of Apps SDK. It also launched AgentKit, which is designed to help individuals and enterprises alike easily deploy agents. Other announcements made at the event included an upgraded Codex SDK, bringing new models to its API, and a multi-billion dollar deal with AMD ( AMD ). More on OpenAI Wall Street Lunch: UAE Blindsides Oil Market With OPEC Exit Plan Wall Street Lunch: OpenAI Loosens Exclusivity In Revised Microsoft Pact Nadella's Flip-Flop OpenAI's ChatGPT uninstall rate rises as Claude fares better: SensorTower Odds of Musk winning OpenAI lawsuit rise to 59.9%