Richard Drury/DigitalVision via Getty Images On February 19th of this year, I decided to take a fresh look at Provident Financial Services ( PFS ). Historically, it has been an interesting prospect. Lately, management has achieved some attractive growth for the business. And when you factor into that asset quality and its valuation, I made the case in that article that reaffirming it as a 'buy' ca...
Richard Drury/DigitalVision via Getty Images On February 19th of this year, I decided to take a fresh look at Provident Financial Services ( PFS ). Historically, it has been an interesting prospect. Lately, management has achieved some attractive growth for the business. And when you factor into that asset quality and its valuation, I made the case in that article that reaffirming it as a 'buy' candidate made sense at that time. Since then, we have seen shares dip about 1.4% while the S&P 500 is up 6.8%. But the good news is that, even though it has underperformed the market recently, it still remains a strong performer since I originally turned bullish on it in February of 2024. From that time through today, shares are up 62.9%. That's meaningfully higher than the 44.1% increase that the S&P 500 saw over the same window of time. Looking at the data that's available now, which covers only one additional operating quarter, I see a firm that remains high quality. We have seen a bit of weakness when it comes to the balance sheet. But pretty much everything else about the institution is looking up. Asset quality is robust, and shares are cheap. Combined, this makes the company a compelling candidate. So even though the market has disagreed with me in recent months, I believe that reaffirming it as a 'buy' candidate is the appropriate choice here. I'm Not Ready to Stop Banking on Provident Financial Services By most metrics, I would say that Provident Financial Services is doing a fine job right now. But that doesn't mean that every metric is doing well. For instance, recently, we have seen deposits drop from $19.28 billion to $19.10 billion. This is from the end of 2025 through the first quarter of this year . The good news is that some of this decline in deposits was driven by lower brokered deposits. These are high-cost deposits that are borrowed from other financial institutions. And according to management, these declined $125.3 million in the course of three months...
British singer claims electronics company ‘repeatedly refused’ to stop using a photo of her on its packaging Dua Lipa is suing Samsung for at least $15m (£11m, A$20.6m), alleging that the electronics company used a photo of her to sell its TVs without financially compensating her or seeking her permission. According to the legal complaint , filed in the US district court in California on Friday, S...
British singer claims electronics company ‘repeatedly refused’ to stop using a photo of her on its packaging Dua Lipa is suing Samsung for at least $15m (£11m, A$20.6m), alleging that the electronics company used a photo of her to sell its TVs without financially compensating her or seeking her permission. According to the legal complaint , filed in the US district court in California on Friday, Samsung began using an image of Lipa on an image of a TV screen printed on its cardboard packaging for “a significant portion” of its TVs sold in the US last year. Continue reading...
Market Snapshot USD/INR ₹94.48 +0.2% Nifty 50 Index 24,176.15 -0.6% India 10-Year Bond Yield 6.97% +0.04 Spot Gold ($/oz) $4,687.07 -0.6% S&P 500 Futures 7,411.25 -0.1% Market data as of 07:59 AM IST, May. 11, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Rajesh Mascarenhas in Mumbai and here’s what’s setting the tone for markets. As the wa...
Market Snapshot USD/INR ₹94.48 +0.2% Nifty 50 Index 24,176.15 -0.6% India 10-Year Bond Yield 6.97% +0.04 Spot Gold ($/oz) $4,687.07 -0.6% S&P 500 Futures 7,411.25 -0.1% Market data as of 07:59 AM IST, May. 11, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Rajesh Mascarenhas in Mumbai and here’s what’s setting the tone for markets. As the war in Iran drags on and oil prices stay elevated, Prime Minister Narendra Modi has a message for Indians: cut fuel use. The appeal reflects an increasingly difficult backdrop for India as a weakening rupee (more on that below) and persistent equity outflows add to pressure on an economy heavily dependent on imported crude. Measures from the pandemic such as working from home and online meetings should be revived, Modi said on Sunday evening, while also urging citizens to help conserve foreign-exchange reserves by avoiding unnecessary overseas travel, and weddings abroad. Oil surged on Monday after US President Donald Trump rejected Iran’s latest response to his proposal to end the war in the Middle East, prolonging the effective closure of the crucial Strait of Hormuz. The Nifty posted a second weekly gain on Friday but continues to trail the broader Asian benchmark. April inflation data and earnings from major companies including Tata Power, Bharti Airtel, and Hindustan Petroleum will be in focus this week. In today’s newsletter, we look at: State Bank’s margin squeeze An impediment for small caps Why corporates are not investing But first, a peek at the rupee’s outlook. Markets Buzz: Rupee’s Rough Road Ahead The battered rupee just can’t seem to catch a reprieve. Analysts have turned more bearish on the currency as oil prices stay elevated and capital outflows persist. The median forecast now puts the rupee at around 94 per dollar by year-end — only marginally higher than Friday’s close. In other words, even if the Iran war ends, the prospects of a meaningful recovery from...
Over the past few weeks, many artificial intelligence (AI) companies have reported strong growth, fueling renewed confidence and market highs. The S&P 500 is 8% as of this writing. If you're looking for excellent stocks to add to your portfolio to ride the wave higher, I recommend Taiwan Semiconductor Manufacturing (NYSE: TSM) , Amazon (NASDAQ: AMZN) , and Lemonade (NYSE: LMND) . They all feature ...
Over the past few weeks, many artificial intelligence (AI) companies have reported strong growth, fueling renewed confidence and market highs. The S&P 500 is 8% as of this writing. If you're looking for excellent stocks to add to your portfolio to ride the wave higher, I recommend Taiwan Semiconductor Manufacturing (NYSE: TSM) , Amazon (NASDAQ: AMZN) , and Lemonade (NYSE: LMND) . They all feature strong AI components, and they also have excellent long-term prospects beyond current trends. Image source: Getty Images. Continue reading