Advanced manufacturing firm Hadrian announced a partnership with the US Navy, building out a 2.2 million square foot automated facility in Alabama set to mass produce components for Virginia-class attack submarines and Columbia-class ballistic missile submarines. Chris Power, Hadrian CEO, joins Caroline Hyde and Ed Ludlow on a special edition of “Bloomberg Tech” live from the Hill and Valley Forum...
Advanced manufacturing firm Hadrian announced a partnership with the US Navy, building out a 2.2 million square foot automated facility in Alabama set to mass produce components for Virginia-class attack submarines and Columbia-class ballistic missile submarines. Chris Power, Hadrian CEO, joins Caroline Hyde and Ed Ludlow on a special edition of “Bloomberg Tech” live from the Hill and Valley Forum in Washington. (Source: Bloomberg)
Bonds issued by two Dubai property developers have fallen into distressed territory, with investor concern mounting over credit quality and refinancing risks as the war in the Middle East rolls on for a fourth week. Six dollar-denominated property bonds in the region are indicated at distressed levels, or trading with a yield spread of over 1,000 basis points above the risk-free rate, according to...
Bonds issued by two Dubai property developers have fallen into distressed territory, with investor concern mounting over credit quality and refinancing risks as the war in the Middle East rolls on for a fourth week. Six dollar-denominated property bonds in the region are indicated at distressed levels, or trading with a yield spread of over 1,000 basis points above the risk-free rate, according to data compiled by Bloomberg. That represents about 15% of dollar real estate bonds in the Middle East. The bonds, all Islamic notes, are issued by entities linked to Dubai-based Binghatti Holding Ltd and Omniyat Holdings Ltd , with a 2027 issue from Binghatti coming in as the most distressed. Binghatti’s core business is mid-market housing, though it has also made a push into luxury projects, unveiling plans for a Mercedes-branded tower and one of the world’s tallest residential buildings. Omniyat focuses on the ultra-luxury segment. The once-hot sector has soured quickly. At the end of February, the widest-indicated bond was trading at less than half of the threshold associated with distress. But the Middle East’s primary bond market has been effectively shut since the war broke out, leaving issuers with limited refinancing options and increasing pressure on lower-rated names. Read more: Once Red-Hot, Dubai Real Estate Bonds Rack Up Steep Losses (1) A representative for Binghatti said in a statement that the firm’s construction sites are fully operational and on schedule despite geopolitical tensions. “Cancellation rates remain below 1%, consistent with historical norms, and March sales have hit approximately AED 500 million per week, matching pre-crisis levels.” Omniyat said it is “in a strong position, fully funded, with substantial contracted revenue providing over four years of revenue visibility.” Construction is active across all of the firm’s launched sites and there have been no purchase cancellations, the statement added. Fitch Ratings has placed both Binghatti an...
Arm Holdings Plc , which made its name licensing technology to semiconductor makers, will begin selling its own chips for the first time, aiming to claim a bigger piece of the massive spending on AI gear. Meta Platforms Inc. will be the first major customer for the UK-based company’s chip, called an AGI CPU, Arm said Tuesday at an event in San Francisco. The product will have as many as 136 cores ...
Arm Holdings Plc , which made its name licensing technology to semiconductor makers, will begin selling its own chips for the first time, aiming to claim a bigger piece of the massive spending on AI gear. Meta Platforms Inc. will be the first major customer for the UK-based company’s chip, called an AGI CPU, Arm said Tuesday at an event in San Francisco. The product will have as many as 136 cores — a measure of processing power — and draw 300 watts of electricity, Arm said. Taiwan Semiconductor Manufacturing Co. will produce the chips. Under Chief Executive Officer Rene Haas , Arm has shifted from its roots as a provider of smartphone technology and taken a greater role in the data center market. The change is meant to help the business get more of the money generated by what is often complex and expensive work. The shift also helps Arm benefit from bigger-ticket purchases. Even the most expensive smartphone chips cost tens of dollars. The highest-end data center semiconductors can run in the tens of thousands. Arm decided to make the new chip because customers asked for it, Haas said. The product — a central processing unit, often described as the brains of a computer — is designed to work alongside the accelerator chips offered by companies such as Nvidia Corp. It helps coordinate work between computers, prepares data and runs elements that provide a response to users making AI queries, Arm said. “The product that we’re building is not only compelling — but we actually have customers who are lined up to buy it,” Haas said in an interview. The company said its product offers greater power efficiency compared with traditional CPU designs from Intel Corp. and Advanced Micro Devices Inc. That means that data center owners will be able to wring more computing power from the same footprint and electricity budget, Haas said. Arm’s increasing reach is a direct threat to the so-called x86 data center products made by Intel and AMD, Haas said. Taking share from those tradit...
Key PointsThe chief medical officer of Stoke Therapeutics disposed of 14,311 Common Stock shares for a transaction value of $457,000 across three days ending March 19, 2026.
Key PointsThe chief medical officer of Stoke Therapeutics disposed of 14,311 Common Stock shares for a transaction value of $457,000 across three days ending March 19, 2026.
Donny DBM/iStock via Getty Images Executive summary The Fund returned -0.06% (IS Share Class) during Q4 2025 vs. 2.19% for the Russell 2000 ® Index. Stock selection within the healthcare and the consumer staples sectors detracted from the Fund's relative performance. Our beliefs remain that speculation has pushed prices for AI-related businesses to perfection; if the shift continues away from thes...
Donny DBM/iStock via Getty Images Executive summary The Fund returned -0.06% (IS Share Class) during Q4 2025 vs. 2.19% for the Russell 2000 ® Index. Stock selection within the healthcare and the consumer staples sectors detracted from the Fund's relative performance. Our beliefs remain that speculation has pushed prices for AI-related businesses to perfection; if the shift continues away from these companies in the new year, our portfolio is positioned to take advantage of a swing towards earnings, cash flows, and other quality fundamentals that drive stocks in the long term. Market Environment The speculation that defined 2025 hit a crescendo in October before a sentiment shift cooled the AI trade somewhat as the year drew to a close. This shift also allowed value to beat growth in small caps for the fourth quarter, though falling just short for the full year. While it is much too soon to call the end of market speculation, it is refreshing that the discourse around AI has become less euphoric and potentially leading investors to evaluate options more critically, offering opportunities for some beaten-down sectors to stand out. Performance Review While the heavy speculation from Q3 continued into October, we witnessed a shift in sentiment later in the fourth quarter. Some of the “bubbly” AI businesses moved lower, and value-oriented segments of the market began to attract some capital. The one big exception to the downshift in speculation was the biotech and pharmaceutical space, which enjoyed strong fourth quarter returns. Contributors Security name Period return Portfolio impact ePlus inc. ( PLUS ) +23.84% +113.0 bps YETI Holdings, Inc. ( YETI ) +33.12% +87.0 bps White Mountains Insurance Group Ltd ( WTM ) +24.32% +80.0 bps ICU Medical, Inc. ( ICUI ) +18.93% +77.0 bps CSW Industrials, Inc. (CSWI) +21.05% +53.0 bps Click to enlarge Country/Sector Period return Portfolio impact Financials +4.12% +57.0 bps Materials +4.82% +18.0 bps Consumer Discretionary -2.71% +16...
CAMBRIDGE, England, March 24, 2026--Arm Holdings plc (NASDAQ: ARM) today announced the next evolution of the Arm compute platform, extending into production silicon products for the first time in the company’s history. This begins with the launch of the Arm AGI CPU, an Arm-designed CPU for AI data centers, built to address a rising class of agentic AI workloads.
CAMBRIDGE, England, March 24, 2026--Arm Holdings plc (NASDAQ: ARM) today announced the next evolution of the Arm compute platform, extending into production silicon products for the first time in the company’s history. This begins with the launch of the Arm AGI CPU, an Arm-designed CPU for AI data centers, built to address a rising class of agentic AI workloads.
Investors who are anxious about the struggling stock market amid the Iran conflict have good reason to worry, as they’re contending with all three of the primary causes of particularly bad years since 1928, according to DataTrek Research.
Investors who are anxious about the struggling stock market amid the Iran conflict have good reason to worry, as they’re contending with all three of the primary causes of particularly bad years since 1928, according to DataTrek Research.
Yuji Kotani/DigitalVision via Getty Images Summary I gave a Buy rating to WaterBridge Infrastructure ( WBI ) last year in October, with my key thesis being that this is a business with many underutilized assets that should position WBI to capture demand. The upcoming major projects coming online in 2029 are also very positive catalysts to look out for. WBI's recent results were good enough to conv...
Yuji Kotani/DigitalVision via Getty Images Summary I gave a Buy rating to WaterBridge Infrastructure ( WBI ) last year in October, with my key thesis being that this is a business with many underutilized assets that should position WBI to capture demand. The upcoming major projects coming online in 2029 are also very positive catalysts to look out for. WBI's recent results were good enough to convince me to stay Buy rated. It provided me with more proof that WBI is executing and that the growth bridge is becoming more tangible. Kraken is already online, and Speedway Phase 1 is seeing strong demand ahead of start-up. So long as WBI doesn’t mess up on execution, the story is evolving very nicely. Earnings results update WBI reported a very solid quarter that gives confidence that it is executing really well. Total revenue grew 2% sequentially (pro forma basis) to $208.9 million, and in the quarter, produced water handling volumes were 2.6 million barrels per day, up 1% sequentially, with the increase coming from higher produced water handling demand in its Eddy County and Stateline systems and also with the continued ramp of the BPX Kraken pipeline project. By revenue segment, produced water handling was still the main business. Produced water handling revenue, including related-party revenue, came in at ~$186 million; Water solutions revenue, including related-party revenue, was ~$12.1 million; and other revenue, including related-party revenue, was ~$10.8 million. Profit-wise, while gross margin only came in at $46.8 million, or $0.18 per barrel, down from pro forma Q3, adj. EBIT margin was pretty much flat on a per-barrel basis ($0.41 this quarter vs. $0.42 last quarter). Overall, adj. EBITDA came in at $103.8 million in Q4, pushing full-year adj. EBITDA to $403 million. Kraken and Speedway In my opinion, the bull case is stronger now as the growth story is becoming clearer and more tangible. Take the developments with Kraken, for example. WBI brought the BPX Krake...
alexsl/iStock via Getty Images Aberdeen India Fund ( IFN ) is an ETF focusing on Indian stocks. Over the period of the last five years, the fund has not only underperformed the S&P 500 but has even lagged risk-free returns. In other words, an investor from the US would have been better off economically had they simply held money in Treasury bonds or a commercial bank deposit instead. IFN is a clos...
alexsl/iStock via Getty Images Aberdeen India Fund ( IFN ) is an ETF focusing on Indian stocks. Over the period of the last five years, the fund has not only underperformed the S&P 500 but has even lagged risk-free returns. In other words, an investor from the US would have been better off economically had they simply held money in Treasury bonds or a commercial bank deposit instead. IFN is a close-end fund with an active security selection mandate for deployment in Indian Equities. While the conversation regarding India’s growth story keeps on circulating among investment circles, the key point is to realize how much of that story firstly translates into capital market gains in the domestic economy and then subsequently to an investor based in the United States. Return Comparison (Seeking Alpha) The total return on a cumulative percentage basis is a meager ~8% for IFN. As we can see, INR depreciation was ~21%, contributing materially to this underperformance. However, even if we exclude INR depreciation, the net return would be closer to ~36%-36%. That is still roughly half of the S&P 500. On an annualized basis, this translates to around ~6.5%. Data by YCharts More importantly, the Indian benchmark Nifty 50 index over the past five years, even after recent market drawdowns, has delivered ~10% per annum. Therefore, not just in USD-denominated terms but even on a currency-adjusted basis, IFN is lagging significantly behind Indian benchmarks. A meaningful underperformance versus broad-based domestic indices does not reflect well in any scenario. Additionally, the current portfolio holdings do not indicate any catalyst or trigger that might suggest a change in trajectory. The major holdings are largely large-cap players with returns closely linked to economic and GDP growth. Nifty 50 Returns as on February End (NSE India) To add further, IFN also had subpar performance relative to other US-denominated Indian ETFs. This further suggests that the fund’s security selecti...
Readers respond to negative comments by Conservative and Reform UK politicians following a Ramadan event in Trafalgar Square As a young British Muslim, I was troubled to see public prayer described as an “act of domination” by the shadow justice secretary, Nick Timothy ( Report, 19 March ). To characterise a few minutes of prayer in this way is simply unjust. Britain stands for fairness and equal ...
Readers respond to negative comments by Conservative and Reform UK politicians following a Ramadan event in Trafalgar Square As a young British Muslim, I was troubled to see public prayer described as an “act of domination” by the shadow justice secretary, Nick Timothy ( Report, 19 March ). To characterise a few minutes of prayer in this way is simply unjust. Britain stands for fairness and equal treatment. If other faiths can gather in public spaces, Muslims should be afforded the same right. To single out one community undermines that principle. Events such as open iftars are not about imposing beliefs, but about bringing people together. We are often encouraged to integrate, yet when Muslims do so visibly and peacefully, they are criticised. Such language and behaviour are deepening division and making Young British Muslims feel unwelcome in their own country. Sarmad Anwar Bradford, West Yorkshire Continue reading...
(RTTNews) - After a weak start and a subsequent sharp drop to lower levels, the Canadian market emerged into positive territory on Tuesday, riding on strong gains in energy and utilities sectors. Stocks from materials and communications sectors too moved higher.
(RTTNews) - After a weak start and a subsequent sharp drop to lower levels, the Canadian market emerged into positive territory on Tuesday, riding on strong gains in energy and utilities sectors. Stocks from materials and communications sectors too moved higher.
Bradley M. Shuster, executive chairman of NMI Holdings (NASDAQ:NMIH) , reported the sale of 18,996 common shares in open-market transactions on March 19, 2026, in conjunction with an option exercise and related tax withholding, according to a SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($37.05); post-transaction value based on March 19, 2026 market clo...
Bradley M. Shuster, executive chairman of NMI Holdings (NASDAQ:NMIH) , reported the sale of 18,996 common shares in open-market transactions on March 19, 2026, in conjunction with an option exercise and related tax withholding, according to a SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($37.05); post-transaction value based on March 19, 2026 market close ($37.18). * 1-year price change calculated using March 19th, 2026 as the reference date. Continue reading
Enbridge CEO Greg Ebel discusses the impact of the Iran conflict on global oil demand and the role of energy infrastructure with Bloomberg’s Julie Fine at CERAWeek in Houston. (Source: Bloomberg)
Enbridge CEO Greg Ebel discusses the impact of the Iran conflict on global oil demand and the role of energy infrastructure with Bloomberg’s Julie Fine at CERAWeek in Houston. (Source: Bloomberg)
Gerard Crofton-Martin says the resilience of the NHS depends on the strength of the care sector. Plus a letter from John Robinson The impact of the Covid pandemic on the NHS, which was already under significant pressure, was profound and enduring. The findings set out in the Covid inquiry report are distressing, but not surprising ( NHS was ‘on brink of collapse’ during pandemic, Covid inquiry fin...
Gerard Crofton-Martin says the resilience of the NHS depends on the strength of the care sector. Plus a letter from John Robinson The impact of the Covid pandemic on the NHS, which was already under significant pressure, was profound and enduring. The findings set out in the Covid inquiry report are distressing, but not surprising ( NHS was ‘on brink of collapse’ during pandemic, Covid inquiry finds, 19 March ). The impact on patients and staff was immeasurable. The “precarious position” that the NHS was in before the pandemic was the result of neglect – and not just towards the NHS itself. For decades, the social care sector has operated in the shadow of the NHS: vital to the nation’s wellbeing, yet chronically underfunded and undervalued. Social care, being ill-prepared and ill-supported, could not act as the resilient partner the NHS needed at a moment of crisis. Continue reading...
primeimages The iShares Expanded Tech-Software Sector ETF ( IGV ), currently at around $81, is trading about 22% below its 200-day moving average, which is around $104. The ETF is down 4% on Tuesday, with some of its top holdings down more than 5%. “Software is getting smoked today after Anthropic shipped their new update that lets your AI control your computer for you. White collar work is toast,...
primeimages The iShares Expanded Tech-Software Sector ETF ( IGV ), currently at around $81, is trading about 22% below its 200-day moving average, which is around $104. The ETF is down 4% on Tuesday, with some of its top holdings down more than 5%. “Software is getting smoked today after Anthropic shipped their new update that lets your AI control your computer for you. White collar work is toast,” said Negligible Capital, on X.com, and added that software’s forward PE multiples are now below the overall multiple of the S&P 500 ( SP500 ), creating a “mass destruction of capital in IGV and beyond.” IGV vs. S&P 500 (Seeking Alpha) Here are the performances of its top 10 holdings: Microsoft ( MSFT ) -2.4% Palantir ( PLTR ) -4.4% Salesforce ( CRM ) -5.4% Oracle ( ORCL ) -3.8% Palo Alto Networks ( PANW ) -3.5% AppLovin ( APP ) -5.4% Intuit ( INTU ) -4.9% Adobe ( ADBE ) -3.6% CrowdStrike Holdings ( CRWD ) -4.1% ServiceNow ( NOW ) -4.2% More on iShares Expanded Tech-Software Sector ETF 'SaaS Becomes GaaS' - 3 Stocks That I'm Avoiding Navigating The Fog: AI And The Industrial Renaissance From HALO To AURA: The Next Rotation In AI Markets Software loans aren't the canary in the credit coalmine Orlando Bravo says many software companies will be disrupted by AI
kynny/iStock via Getty Images Introduction MKS Inc. ( MKSI ) shares have pulled back 7% since their highs in February on the back of the recent correction stemming from the US-Iran War. I think that this creates an attractive BUY opportunity to accumulate into MKSI's shares based on a few key reasons. Although MKSI's shares are up 166% YoY, I think there is still upside to the stock, given that it...
kynny/iStock via Getty Images Introduction MKS Inc. ( MKSI ) shares have pulled back 7% since their highs in February on the back of the recent correction stemming from the US-Iran War. I think that this creates an attractive BUY opportunity to accumulate into MKSI's shares based on a few key reasons. Although MKSI's shares are up 166% YoY, I think there is still upside to the stock, given that it is still trading at 22.7x forward FY2026 P/E, which is still a significant discount to its peers, which are trading at 30-40x. There are several key growth drivers that MKSI is seeing in its business: First, MKSI is benefitting from the overall growth in industry WFE spending, which is driven by the migration to advanced logic. Second, MKSI is benefitting from the rising layer count in PCBs, which will help grow its PCB equipment and chemistry business. Lastly, MKSI is seeing an improving outlook in its legacy Specialty Industrial Market, which is expected to grow YoY in 2026 compared to the declines we have seen in the past 2 years. Business Overview MKSI is a critical provider of subsystems for semiconductor equipment; its products are used in most of the major semiconductor processing steps, such as deposition, etching, cleaning, lithography, etc. Most of the well-known WFE providers - such as Applied Materials ( AMAT ), Lam Research ( LRCX ), ASML ( ASML ), KLA Corp ( KLAC ) utilize MKSI's subsystems. The company's broad subsystem offering allows them to address 85% of the needs of the WFE market. Besides semiconductor equipment, MKSI also provides equipment vital for the production of PCBs and packaging substrates, such as laser drilling systems, electronics chemistries, and plating equipment. This has been MKSI's fastest-growing segment in 2025, mainly driven by the increasing layer count in PCBs in AI applications. MKSI also provides chemicals and equipment in Specialty Industrial Market. This ranges across multiple applications, such as Industrial (automobile & sol...
Aimée Hamblin recalls her frustration when she had to get her son vaccinated privately I completely agree with the points made in Devi Sridhar’s article on meningitis ( Meningitis is back – and here is why, 17 March ). She says that the NHS routine vaccination schedule covers children born after 2015. In fact, it was extended to babies born from May 2015 in a catchup programme. I remember this cle...
Aimée Hamblin recalls her frustration when she had to get her son vaccinated privately I completely agree with the points made in Devi Sridhar’s article on meningitis ( Meningitis is back – and here is why, 17 March ). She says that the NHS routine vaccination schedule covers children born after 2015. In fact, it was extended to babies born from May 2015 in a catchup programme. I remember this clearly as my eldest son was born in December 2014. I recall the frustration that I felt on my maternity leave in 2015 when he was not eligible for a MenB vaccine on the NHS like his younger peers. This means that many current Year 6 students are not vaccinated depending on the month in which they were born. My husband and I took the decision to vaccinate our son privately at significant, but completely worthwhile, cost in 2015. Continue reading...