Nutthaseth Vanchaichana/iStock via Getty Images U.S. equities experienced a volatile, risk off start with major indices declining and briefly entering correction territory amid a sharp March selloff. The S&P 500 posted its worst quarterly return since the third quarter of 2022, driven by an escalating Middle East conflict that pushed energy prices higher, disrupted global supply chains and revived...
Nutthaseth Vanchaichana/iStock via Getty Images U.S. equities experienced a volatile, risk off start with major indices declining and briefly entering correction territory amid a sharp March selloff. The S&P 500 posted its worst quarterly return since the third quarter of 2022, driven by an escalating Middle East conflict that pushed energy prices higher, disrupted global supply chains and revived inflation concerns. Rising bond yields pressured valuations and accelerated a shift away from the mega-tech leaders toward Energy and more defensive sectors. Expectations for rate cuts waned, weighing on market sentiment despite resilient underlying earnings. Although late quarter headlines suggesting a cease fire sparked a brief relief rally, ongoing uncertainty underscored the value of fundamentals driven investing. Periods of stress often widen the disconnect between price and value, particularly for companies with sustainable earnings power. Anchored in our private market value discipline—refined over more than four decades and five market cycles—we maintain a patient, long-term perspective, grounded in the belief that durable investment outcomes are achieved through thoughtful ownership of high-quality businesses across full market cycles. We know investment opportunities grow when uncertainty is elevated and risk appetite is limited. Against this backdrop, Ariel Focus Fund jumped +7.30% in the quarter, ahead of both the Russell 1000 Value and the S&P 500's +2.10% and -4.33%, respective returns. Oil and gas producer, APA Corporation ( APA ) was the top contributor during the quarter, benefiting from higher oil prices and the company's strong exposure to upstream operations, which tend to perform well when commodity prices improve. Longer term, we believe APA is well positioned to sustain production and generate cash. The company has a large inventory of drilling opportunities in the Permian Basin and a good track record of replacing production. Additionally, growing n...
Earnings Call Insights: McKesson (MCK) Q4 fiscal 2026 Management View "Earlier today, we reported a good fourth quarter that caps a year of strong performance," said (CEO & Director Brian Tyler). "In our fiscal 2026, we grew adjusted earnings per diluted share by 18%... Our operating cash flow of $6.2 billion was strong and exceeded our plans. We returned $5.1 billion to shareholders." "One year a...
Earnings Call Insights: McKesson (MCK) Q4 fiscal 2026 Management View "Earlier today, we reported a good fourth quarter that caps a year of strong performance," said (CEO & Director Brian Tyler). "In our fiscal 2026, we grew adjusted earnings per diluted share by 18%... Our operating cash flow of $6.2 billion was strong and exceeded our plans. We returned $5.1 billion to shareholders." "One year ago, we announced the plan to separate our Medical-Surgical Solutions segment into an independent company," said (CEO Tyler). "Since then, we've made significant progress... executed on financing transactions and signed an agreement to welcome Apollo as a minority interest investor... we're confident that it will unlock shareholder value and create strategic clarity for both organizations." "During the quarter, we announced the planned retirement of Britt," said (CEO Tyler). "As planned, Britt will continue to support the team through the CFO transition... He'll also serve as a strategic adviser." "We continue to see strong growth in specialty medications," said (CEO Tyler). "We added more than 570 providers in fiscal '26... Ambient Scribe technology is now used by more than 1,900 providers." "This year, we delivered the most successful season to date, supporting a record number of 3.4 million patients," said (CEO Tyler). "Recently, we launched an industry-first integrated specialty access and affordability solution designed to address the fragmentation that often delays starting a treatment." "We delivered robust growth across our Core strategies," said (Executive VP & CFO Britt Vitalone). "For the full year, consolidated revenues reached $403 billion... adjusted earnings per diluted share increased 18% to $39.11." Outlook "We anticipate adjusted earnings per diluted share to be in the range of $43.80 to $44.60 in fiscal '27," said (CEO Tyler). "For fiscal 2027, we're establishing an adjusted earnings per diluted share guidance range of $43.80 to $44.60," said (CFO Vitalone...
(RTTNews) - The Australian stock market is trading sharply lower on Friday, reversing some of the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,800 level, with weakness in minin
(RTTNews) - The Australian stock market is trading sharply lower on Friday, reversing some of the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,800 level, with weakness in minin
(RTTNews) - The China stock market has moved higher in four straight sessions, collecting more than 100 points or 2.5 percent along the way. The Shanghai Composite Index now sits just above the 4,180-point plateau although the rally may stall on Friday.
(RTTNews) - The China stock market has moved higher in four straight sessions, collecting more than 100 points or 2.5 percent along the way. The Shanghai Composite Index now sits just above the 4,180-point plateau although the rally may stall on Friday.
When a deadly blast rocked a small town in central China this week, killing 26 and injuring 61, hundreds of fireworks factories in the surrounding area were in peak production season for overseas orders, including for the 250th anniversary of American independence on July 4, industry insiders said. They added that fireworks producers in Liuyang, Hunan province – often called the “fireworks capital...
When a deadly blast rocked a small town in central China this week, killing 26 and injuring 61, hundreds of fireworks factories in the surrounding area were in peak production season for overseas orders, including for the 250th anniversary of American independence on July 4, industry insiders said. They added that fireworks producers in Liuyang, Hunan province – often called the “fireworks capital of the world” – were rushing to fill orders before a mandatory production ban from June to August...
A young woman tourist in China died after falling from a “cliff swing” ride after her warning that the safety rope was not tied tightly enough was ignored. The heart-wrenching accident went viral on mainland social media and was viewed more than 200 million times. It sparked public rage and calls for safety supervision for adventure activities to be strengthened. On May 5, the municipal government...
A young woman tourist in China died after falling from a “cliff swing” ride after her warning that the safety rope was not tied tightly enough was ignored. The heart-wrenching accident went viral on mainland social media and was viewed more than 200 million times. It sparked public rage and calls for safety supervision for adventure activities to be strengthened. On May 5, the municipal government of Huaying in southwestern China’s Sichuan province issued a statement that the tourist, surnamed...