Getty Images Investment Overview Iovance Biotherapeutics, Inc. ( IOVA ), the San Carlos, California-headquartered Pharma company that markets and sells the tumor-infiltrating lymphocyte ("TIL") therapy Amtagvi (lifileucel) for patients with advanced melanoma, announced its Q1 earnings yesterday, 7th May, prompting a selloff of stock, which slipped to a a value of $3.55, down >13% for the day. Iova...
Getty Images Investment Overview Iovance Biotherapeutics, Inc. ( IOVA ), the San Carlos, California-headquartered Pharma company that markets and sells the tumor-infiltrating lymphocyte ("TIL") therapy Amtagvi (lifileucel) for patients with advanced melanoma, announced its Q1 earnings yesterday, 7th May, prompting a selloff of stock, which slipped to a a value of $3.55, down >13% for the day. Iovance's market cap pre-market today stood at $1.59bn. Total product revenues increased by ~45% year-on-year, Iovance reported, to ~$71m, of which Amtagvi accounted for $60m revenues, and Proleukin (aldesleukin), an interleukin-2, or IL-2, product used in the Amtagvi treatment regimen, ~$11m. Cost of sales amounted to $42.5m, R&D expenses $62.5m, SG&A expenses $38.9m, and overall, a net loss of $(79.7m) was reported, compared to $(118m) in Q1 2025. Earnings per share ("EPS") was reported as $(0.19), compared to $(0.36) in the prior year period (the share count has increased from 322.8m, to 418.5m year-on-year), and Iovance reported cash and equivalents of $313.4m, compared to $297m as of the end of Q1 2025. Speaking on yesterday's earnings call with analysts, Iovance's CEO Frederick Vogt told analysts: Looking ahead, Amtagvi enrollment and referral trends are at an all-time high in support of our second quarter and full year 2026 guidance issued today. Second quarter total revenue guidance is $86 million to $88 million. Amtagvi revenue is expected to grow to $79 million to $81 million in the second quarter. This is an increase of approximately 23% over our highest quarterly revenue to date in the fourth quarter of last year. For the full year 2026, total revenue guidance for Amtagvi and Proleukin is $350 million to $370 million, predominantly fueled by Amtagvi. Over time, we project a $1 billion peak -- $1 billion plus peak sales trajectory for Amtagvi and Proleukin in the U.S. For the rest of 2026 and beyond, we expect gross margins to benefit from our financial discipline, i...
The economy is being propped up by AI says JPMorgan’s Gabriela Santos. She joined Bloomberg Open Interest to explain why the labor market is weaker than headlines suggest, how the AI trade has shifted beyond big tech, and why markets keep rallying despite global chaos. (Source: Bloomberg)
The economy is being propped up by AI says JPMorgan’s Gabriela Santos. She joined Bloomberg Open Interest to explain why the labor market is weaker than headlines suggest, how the AI trade has shifted beyond big tech, and why markets keep rallying despite global chaos. (Source: Bloomberg)
kynny/iStock via Getty Images Applied Optoelectronics ( AAOI ) shares inched up during Friday market trading despite delivering an underwhelming earnings report as analysts point to a strong data center order backlog from Amazon ( AMZN ) and new orders likely coming from Oracle ( ORCL ). "AAOI delivered 1Q25 results within guidance but below consensus, while 2Q guidance was also below consensus," ...
kynny/iStock via Getty Images Applied Optoelectronics ( AAOI ) shares inched up during Friday market trading despite delivering an underwhelming earnings report as analysts point to a strong data center order backlog from Amazon ( AMZN ) and new orders likely coming from Oracle ( ORCL ). "AAOI delivered 1Q25 results within guidance but below consensus, while 2Q guidance was also below consensus," said Needham analysts Ryan Koontz and Jeffrey Hopson in a Friday investor note. "Mgt, however, raised F26 revenue guidance to reflect a very steep 2H ramp, up 200% vs 1H. 1Q revenue (+84% y/y) saw strong Data Center sales (+154% y/y, +9% q/q), including Amazon contributing 25% of total as 400G ramped and initial shipments of 800G." Needham reiterated its Buy rating and $190 price target on the stock. The financial firm also increased its revenue estimates, increasing its full-year 2026 estimate to $1.08B from $954M and 2027 to $2.49B from $2.03B. "AAOI confirmed new hyperscaler orders (we believe Oracle) of $324MM pending product qualifications - (1) $124MM in orders for 800G expected to begin shipping 2Q26; and (2) first volume order of 1.6T xcvrs of $200MM, expected to ship in 3Q26 and completed by year-end," Koontz added. "If successful, these large orders would notch Oracle as a 10% customer for F26." AAOI competitors Lumentum ( LITE ) and Coherent ( COHR ) were up 1.5% and 2.5%, respectively. More on Applied Optoelectronics Applied Optoelectronics: Soaring AI Infrastructure Demand Is Igniting Hypergrowth Stock Applied Optoelectronics: Warning Signs From AI Optical Bottleneck Now Flashing Applied Optoelectronics Has A Vision Of Success, And So Do I Applied Optoelectronics plunges after Q1 revenue falls short despite climbing 51% Applied Optoelectronics misses Q1 street views
The theme of earth’s biggest art extravaganza – spiritual rest – felt wildly wrong for our crisis-hit planet. Thank goodness for the pavilions, from fake babies to hi-tech sperm banks to a chocolate Russell Crowe It was almost over before it even started. This year’s Venice Biennale has been tearing itself apart for months: countries not showing up, artists getting fired, exhibitions being cancell...
The theme of earth’s biggest art extravaganza – spiritual rest – felt wildly wrong for our crisis-hit planet. Thank goodness for the pavilions, from fake babies to hi-tech sperm banks to a chocolate Russell Crowe It was almost over before it even started. This year’s Venice Biennale has been tearing itself apart for months: countries not showing up, artists getting fired, exhibitions being cancelled, funding getting pulled. There were petitions and protests months before a painting was on the wall. The jury quit in the days leading up to the opening, then Iran quit, then the European Commission quit. There were protests against Israel and Russia during the preview, artists went on strike, and artworks were replaced with installations of Palestinian flags. The whole thing was a massive mess of conflicting politics, personal tragedy and unresolvable ideological differences from the very beginning. And all this without even mentioning that the curator, Koyo Kouoh, died last year and wasn’t able to see her artistic vision through to completion. In a sense, the 2026 Venice Biennale never stood a chance. Continue reading...
Pull out the crash cart -- Figs (NYSE: FIGS) is on life support. The popular purveyor of medical and surgical scrubs and other apparel took a huge tumble on Friday, crashing 29.4% through 10:40 a.m. ET despite beating analyst forecasts for both sales and earnings last night. Heading into its Q1 report, analysts forecast Figs to earn $0.01 per share on $152.5 million in sales. Figs actually earned ...
Pull out the crash cart -- Figs (NYSE: FIGS) is on life support. The popular purveyor of medical and surgical scrubs and other apparel took a huge tumble on Friday, crashing 29.4% through 10:40 a.m. ET despite beating analyst forecasts for both sales and earnings last night. Heading into its Q1 report, analysts forecast Figs to earn $0.01 per share on $152.5 million in sales. Figs actually earned $0.03 per share and reported sales of $159.9 million. Continue reading
Campaign signage showing Virginia's current electoral map alongside the proposed electoral map at a Republican Party volunteer table outside a polling location at Burke Centre Library in Burke, Virginia, US, on Saturday, April 18, 2026. Graeme Sloan | Bloomberg | Getty Images The Virginia Supreme Court on Friday struck down the state's recently passed redistricting referendum, dealing a massive bl...
Campaign signage showing Virginia's current electoral map alongside the proposed electoral map at a Republican Party volunteer table outside a polling location at Burke Centre Library in Burke, Virginia, US, on Saturday, April 18, 2026. Graeme Sloan | Bloomberg | Getty Images The Virginia Supreme Court on Friday struck down the state's recently passed redistricting referendum, dealing a massive blow to Democrats who hoped to gain several seats from new House maps. The redistricting ballot measure passed by three percentage points in late April in what was seen at the time as a major win for Democrats, who stood to gain as many as four seats from redrawn maps ahead of the November midterms. The Virginia Supreme Court decision comes amid an ongoing partisan gerrymandering war and as Republican-led states across the South are working to redraw their House districts after a pivotal Supreme Court decision that weakened part of the Voting Rights Act. "We respect the court. But we will keep fighting for a democracy where voters — not politicians — have the final say. Because in Virginia, power still belongs to the people," Speaker of the Virginia House of Delegates Don Scott, a Democrat, said in a statement. This is breaking news. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Tom Werner/DigitalVision via Getty Images Investment Thesis I rate Ardelyx ( ARDX ) with a Buy. The biotech is currently experiencing a quite good commercial stage, marketing two key drugs (IBSRELA and XPHOZAH). After the realised increased in revenues in the last quarters, the management maintained a positive tone also in the last earnings call at the end of April, guiding through $1B in revenues...
Tom Werner/DigitalVision via Getty Images Investment Thesis I rate Ardelyx ( ARDX ) with a Buy. The biotech is currently experiencing a quite good commercial stage, marketing two key drugs (IBSRELA and XPHOZAH). After the realised increased in revenues in the last quarters, the management maintained a positive tone also in the last earnings call at the end of April, guiding through $1B in revenues by FY2029. The company’s opened ACCEL Phase III clinical trial could add further positive momentum for the stock, expanding ARDX’s total addressable market. According to the options chain analysis, investors are bullishly positioned for the near future, while my DCF analysis implies a base-case share price of $24.27, without considering the possible positive effects of the ACCEL trial. New investors should start accumulating stocks at the current level (between $6.50 and $7.50). Business Overview Ardelyx, Inc. ( NASDAQ: ARDX ), is a biotech company based in Massachusetts currently operating in the commercial stage. The company is focused on gastrointestinal and renal medicine with its main products IBSRELA and XPHOZAH. IBSRELA was approved in September 2019 and launched on the market in September 2022, targeting approximately 13M of adult Americans suffering from irritable bowel syndrome with constipation, medically considered as a chronic condition. In this case, IBSRELA acts differently from other pharma products, restricting sodium and water reabsorption, providing then a unique symptomatic and physiological profile. XPHOZAH, on the other hand, was approved by the FDA more recently, in October 2023 and launched immediately after in November 2023, targeting 600,000 US adults suffering from elevated serum phosphorus and in kidney dialysis, usually associated by the medical community with cardiovascular mortality. The product is critically the only binder with non-phosphate characteristics approved in this space, it works by reducing the phosphate absorption from the gut. ...
Tesla (TSLA) shares have demonstrated a significant technical turnaround, reclaiming the psychological $400 level on strong relative volume. The stock currently maintains a “Moderate Buy” consensus among analysts, but the chart’s breakout from its March base suggests even stronger near-term momentum than that grade implies. Recent delivery data and improved...
Tesla (TSLA) shares have demonstrated a significant technical turnaround, reclaiming the psychological $400 level on strong relative volume. The stock currently maintains a “Moderate Buy” consensus among analysts, but the chart’s breakout from its March base suggests even stronger near-term momentum than that grade implies. Recent delivery data and improved...
Just_Super/iStock via Getty Images CoreWeave ( CRWV ) presented a mixed earnings scorecard for the first fiscal quarter on Thursday amid continual growth in its Data Center portfolio and new deals in the hyperscaler market that added to the platform's revenue backlog. The market has been highly skeptical of CoreWeave’s debt-fueled CapEx strategy, but the stickiness of demand for GPU compute and ma...
Just_Super/iStock via Getty Images CoreWeave ( CRWV ) presented a mixed earnings scorecard for the first fiscal quarter on Thursday amid continual growth in its Data Center portfolio and new deals in the hyperscaler market that added to the platform's revenue backlog. The market has been highly skeptical of CoreWeave’s debt-fueled CapEx strategy, but the stickiness of demand for GPU compute and massive top-line growth, in my opinion, proves that the platform’s growth strategy is working: in Q1’26 CoreWeave reported more than 100% Y/Y top-line growth. However, CoreWeave’s massive, expensive Data Center footprint expansion compressed its operating income margins to just 1% in the first quarter, triggering a 9% sell-off in the after-hours market on Thursday. The margin crash, however, was largely expected amid the firm's aggressive CapEx plan and higher associated interest cost, so I don’t really see a major change in the investment case for CoreWeave. In fact, considering that the neocloud was able to sign new multi-billion dollar expansion deals in 2026, I believe the ‘Strong Buy’ rating for CoreWeave is more deserved than ever before. Data by YCharts Previous rating I rated shares of CoreWeave a 'Strong Buy'— Another CapEx Tantrum —amid what I saw as persistent and sticky demand for the company’s core services: specifically, the leasing of high-performance GPUs from Nvidia ( NVDA ). CoreWeave not only has a strong partnership with Nvidia in terms of the supply of GPUs, but Nvidia is also one of the biggest investors in the neocloud, with a total ownership position of 9%. I like the long-term growth outlook for CoreWeave, despite an explosion of interest-related costs in the first quarter. Investors need to be patient here, but this patience could get them richly rewarded long-term, in my view. CoreWeave sees margin crash on Data Center expansion CoreWeave reported mixed results for its first fiscal quarter on Thursday, with EPS missing expectations and revenues beat...
On May 8, 2026, CM Management disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold its entire stake in Preformed Line Products (NASDAQ:PLPC) , an estimated $6.39 million trade based on quarterly average pricing. CM Management reported in a SEC filing dated May 8, 2026, that it sold all 25,000 shares of Preformed Line Products during the first quarter. The estimated tran...
On May 8, 2026, CM Management disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold its entire stake in Preformed Line Products (NASDAQ:PLPC) , an estimated $6.39 million trade based on quarterly average pricing. CM Management reported in a SEC filing dated May 8, 2026, that it sold all 25,000 shares of Preformed Line Products during the first quarter. The estimated transaction value, based on the average closing price for the quarter, was approximately $6.39 million. The quarter-end valuation for the position declined by $5.17 million, reflecting both the sale and market price changes. Preformed Line Products is a global manufacturer specializing in products essential for the construction and maintenance of overhead and underground networks in the energy and communications sectors. The company leverages decades of engineering expertise and a broad product portfolio to address the evolving needs of utilities and network operators. Its international presence and focus on reliability position it as a trusted supplier in mission-critical infrastructure markets. Continue reading
JasonDoiy/iStock Unreleased via Getty Images Uber Technologies, Inc. ( UBER ) recently reported a great start to the year, so I wanted to go over the numbers in more detail and why I think there is a reason to own it if you would like some diversification in your portfolio away from a pure AI growth narrative. The results were very good, which led me to add even more at these levels. By The Number...
JasonDoiy/iStock Unreleased via Getty Images Uber Technologies, Inc. ( UBER ) recently reported a great start to the year, so I wanted to go over the numbers in more detail and why I think there is a reason to own it if you would like some diversification in your portfolio away from a pure AI growth narrative. The results were very good, which led me to add even more at these levels. By The Number Starting from the top, revenues came in at around $13.2B, up a respectable 14.5% y/y, but missed consensus by $50m. Looking at the revenue breakdown in more detail to see what segment drove the top-line performance, we can see that Mobility and Freight performed quite poorly, growing at 1% and 6%, respectively; however, Delivery was another beast. Delivery revenues increased a whopping 34% y/y to $5.06B. With this momentum, I can see Delivery being the largest revenue contributor over the next year or so. UBER 10-Q Looking at the company's gross bookings breakdown, Mobility and Delivery seem to be going hand in hand, but here as well, Delivery is showing a slightly better performance, growing 28% y/y compared to 25% growth in Mobility. Overall gross bookings grew 25% y/y to $53.7B. A very healthy growth. UBER 10-Q Going over the company's profitability and efficiency for the latest quarter, we can see that GAAP operating income was 14.5%, up from 10.6% last year. 390bps improvement is nothing to scoff at. On an adjusted basis, adjusted EBITDA grew 33% to $2.5B, and adjusted EBITDA margin as a % of revenues was around 19%. Adjusted operating income increased 42% y/y to $1.9B, giving us an adjusted operating margin of 14.3%. Q1 non-GAAP EPS came in at $0.72, which beat estimates by 3 cents and grew 44%. An impressive growth across the board. In terms of its financial position, UBER finished the year with around $6.1B in cash, equivalents, and ST investments against $10B in long-term debt. Is this a lot of debt for Uber? Its market cap is over $160B, so not particularly. Also...
(RTTNews) - Consumer sentiment in the U.S. has deteriorated by more than anticipated in the month of May, according to preliminary data released by the University of Michigan on Friday.
(RTTNews) - Consumer sentiment in the U.S. has deteriorated by more than anticipated in the month of May, according to preliminary data released by the University of Michigan on Friday.