Circle Plunges Most Ever On Stablecoin Legislation, As Tether Prepares Full Audit Circle Internet Group, the issuer of the USDC stablecoin, plunged the most on record as investors reacted to potential stablecoin regulation changes that could make the firm’s cryptocurrency less attractive to large holders, as it would be stripped of interest payments. Concerns that a competitor is readying a move i...
Circle Plunges Most Ever On Stablecoin Legislation, As Tether Prepares Full Audit Circle Internet Group, the issuer of the USDC stablecoin, plunged the most on record as investors reacted to potential stablecoin regulation changes that could make the firm’s cryptocurrency less attractive to large holders, as it would be stripped of interest payments. Concerns that a competitor is readying a move into the US market also hurt Circle’s share price. The stock declined as much as 22%, its steepest intraday drop ever, and leading losses across crypto-linked equities. Coinbase fell as much as 11%, while MARA Holdings, Bullish, Galaxy Digital Holdings and Robinhood Markets also moved lower. Bitcoin also dropped as much as 2.8% to $68,906.31, breaking below $70,000 after rising above it yesterday. Circle’s decline comes as investors grappled with the implications on the economics of stablecoins of proposed US legislation. Draft language of the so-called Clarity Act could prevent exchanges like Coinbase from offering rewards on holdings of stablecoins such as USDC, Circle’s US dollar-pegged token. While the Clarity Act seeks to establish a comprehensive regulatory regime for cryptocurrencies and other forms of tokens, the proposed legislation has faced delays largely due to disagreements between the crypto industry and the banking sector over whether stablecoins can offer rewards similar to interest rates on bank accounts. The proposed changes to the Clarity Act circulating in Washington could reduce incentives for holders to maintain balances in tokens rather than bank deposits, said analysts. “We believe it is almost entirely related to the Clarity Act language out today,” John Todaro, an analyst at Needham & Co. said. His firm expects that if the draft language is adopted, it would curtail Coinbase’s program offering certain customers 3.5% rewards on their USDC balances. Meanwhile, competition among stablecoin issuers is drawing renewed attention. On Tuesday, Tether said i...
Defence chiefs have been discussing how to unblock the conduit for about a fifth of the world’s oil supplies The UK has offered to host an international security summit to draw up a “viable, collective plan” to reopen the strait of Hormuz as economic fallout from the Iran conflict continues. Defence chiefs have been discussing how they might unblock the vital shipping lane, through which about 20%...
Defence chiefs have been discussing how to unblock the conduit for about a fifth of the world’s oil supplies The UK has offered to host an international security summit to draw up a “viable, collective plan” to reopen the strait of Hormuz as economic fallout from the Iran conflict continues. Defence chiefs have been discussing how they might unblock the vital shipping lane, through which about 20% of global oil supplies usually pass, amid the Middle East crisis unleashed by the US and Israel. Continue reading...
EvgeniyShkolenko/iStock via Getty Images Today's article is very straightforward. On a pro forma basis, as of March 31, 2026, and per its March 12, 2026, Q4 FY 2025 conference call , Pixelworks, Inc. ( PXLW ) will have roughly $58 million of net cash. On a per-share basis, this translates to approximately $9.12 per share in net cash. As of Monday, March 23, 2026, the share of PXLW closed at $5.18 ...
EvgeniyShkolenko/iStock via Getty Images Today's article is very straightforward. On a pro forma basis, as of March 31, 2026, and per its March 12, 2026, Q4 FY 2025 conference call , Pixelworks, Inc. ( PXLW ) will have roughly $58 million of net cash. On a per-share basis, this translates to approximately $9.12 per share in net cash. As of Monday, March 23, 2026, the share of PXLW closed at $5.18 per share. Outside of an early-stage biotech company with a huge projected cash burn schedule required to fund its various upcoming clinical trials, I can't readily recall a publicly traded company trading at nearly a $4 per share (or a 43% discount per share to net cash) discount to its net cash balance. Please note, on March 12, 2026, fellow SA Contributor MedTechBio wrote a piece titled: Pixelworks' Shanghai Cash Boost: Fuel For A TrueCut Royalty Machine , which contains some background information on the company and more information on its TrueCut Motion software. The Reason the Opportunity Exists is Twofold: 1) This management team appears to have a potential Principal Agent problem. Post the sale of its Shanghai Semiconductor facility , which was completed in early January 2026, the company has pivoted to an IP licensing model led by its TrueCut Motion software. The issue is that the TTM revenue, as of 12/31/25, for its entire IP licensing portfolio is less than $1 million. Moreover, on the company's Q4 FY 2025 conference call, which took place on March 12, 2026, during the analyst Q&A section, management was a bit unclear and didn't really quantify its going-forward business plan and precisely how it will quickly ramp up the revenue of this IP licensing business. When I synthesize what management said, it appears that PXLW gives Hollywood creators access to its software, including full licensing in the production of a box office film, but on a subsidized basis. The idea is to generate buzz and excitement within the content creator ecosystem as a superior technology, ...
Suphanat Khumsap Iran informed members of the International Maritime Organization that vessels deemed “non-hostile” may be allowed to pass through the Strait of Hormuz, provided they coordinate directly with Iranian authorities, the Financial Times reported Tuesday. In a letter circulated Tuesday among IMO member states, Tehran’s foreign ministry said it had implemented what it described as “neces...
Suphanat Khumsap Iran informed members of the International Maritime Organization that vessels deemed “non-hostile” may be allowed to pass through the Strait of Hormuz, provided they coordinate directly with Iranian authorities, the Financial Times reported Tuesday. In a letter circulated Tuesday among IMO member states, Tehran’s foreign ministry said it had implemented what it described as “necessary and proportionate” actions to prevent adversaries from using the strategic waterway to support operations against Iran. The strait, a vital artery for global energy and trade flows, has effectively been shut down since the outbreak of hostilities between the United States, Israel and Iran on February 28. Prior to the conflict, roughly 20% of the world’s oil shipments moved through the narrow channel, along with the bulk of maritime trade serving Gulf nations. The disruption has left an estimated 3,200 vessels stranded in the Gulf, many unwilling to attempt the passage. The strait narrows to just 21 nautical miles at its tightest point, heightening the risk of confrontation. Since fighting began, at least 22 ships have reportedly been struck by Iranian forces. The IMO, the United Nations agency responsible for maritime safety standards, held an emergency session last week to address the escalating situation. Officials are now exploring the creation of a humanitarian corridor that would allow ships facing critical shortages of fuel or supplies to leave the region safely. Recent tracking data indicates that Iran has begun allowing a limited number of ships to transit via a route within its territorial waters. Analysts say this path likely enables Iranian authorities to inspect and confirm vessel identities before granting passage. Meanwhile, some ship operators have reportedly paid up to $2 million to secure safe transit through the Gulf, according to maritime intelligence firm Lloyd’s List Intelligence and individuals familiar with the matter. The situation has prompted ...
The Federal Communications Commission yesterday announced it will no longer approve consumer-grade routers made outside of the US, citing a President Trump directive on reducing the use of foreign technology for national security reasons. The action will prevent foreign-made routers from being imported into or sold in the US. Routers already approved for sale in the US can continue to be sold, and...
The Federal Communications Commission yesterday announced it will no longer approve consumer-grade routers made outside of the US, citing a President Trump directive on reducing the use of foreign technology for national security reasons. The action will prevent foreign-made routers from being imported into or sold in the US. Routers already approved for sale in the US can continue to be sold, and consumers can keep using any router they've previously obtained, the FCC said. But the FCC will not approve new device models made at least partly outside the US unless the Department of Defense or Department of Homeland Security determines that the router does not pose national security risks. The prohibition applies to both US and foreign companies that produce routers outside the US. Foreign production includes "any major stage of the process through which the device is made, including manufacturing, assembly, design, and development." Read full article Comments
Earnings Call Insights: Achieve Life Sciences (ACHV) Q4 2025 Management View Richard A. Stewart, President, CEO & Executive Director, emphasized the company's transition from a clinical-stage to a commercially focused enterprise following the NDA submission in June 2025, stating, "Our primary objective now is to make cytisinicline available to the 25 million patients who smoke and nearly 18 millio...
Earnings Call Insights: Achieve Life Sciences (ACHV) Q4 2025 Management View Richard A. Stewart, President, CEO & Executive Director, emphasized the company's transition from a clinical-stage to a commercially focused enterprise following the NDA submission in June 2025, stating, "Our primary objective now is to make cytisinicline available to the 25 million patients who smoke and nearly 18 million who vape." He highlighted the FDA acceptance of the NDA for smoking cessation and receipt of the Commissioner's National Priority Voucher for the vaping indication, providing an accelerated pathway to potential first-in-class approval for vaping cessation. Stewart reported progress on regulatory milestones, including the completion of the ORCA-OL long-term exposure trial, which "underlined cytisinicline safety profile, demonstrating strong tolerability and excellent patient satisfaction data." He also announced the selection of Adare Pharma Solutions as the U.S.-based manufacturer for cytisinicline and initiation of technology transfer, describing it as a move to "increase confidence in our supply-chain security as we advance towards a planned commercial launch of cytisinicline expected in the first half of 2027." Mark Rubinstein, Chief Medical Officer, noted, "2025 has strengthened our clinical and regulatory position significantly. We're advancing through the FDA's review process with an active dialogue with the agency." Jaime Xinos, Chief Commercial Officer, detailed the company's data-driven commercial infrastructure, prioritizing "availability, access, and awareness," and highlighted advanced analytics, AI tools, and a partnership with Omnicom to expedite marketing material development. She stated, "Every initiative is data-driven, and every decision is tied to measurable impact with the goal of making cytisinicline accessible to the millions of Americans struggling with nicotine dependence." Mark Oki, Chief Financial Officer, reported, "As of December 31, 2025, cash...
peshkov A sustained move above 4.5% on the US 10-year Treasury yield ( US10Y ) would represent a critical threshold that could force investors to reassess their optimism on stocks, according to Mina Krishnan, Multi-Asset Portfolio Manager at Schroders. While yields remain below that level, Krishnan warned that a material break higher would signal a significant shift in the equity landscape. Despit...
peshkov A sustained move above 4.5% on the US 10-year Treasury yield ( US10Y ) would represent a critical threshold that could force investors to reassess their optimism on stocks, according to Mina Krishnan, Multi-Asset Portfolio Manager at Schroders. While yields remain below that level, Krishnan warned that a material break higher would signal a significant shift in the equity landscape. Despite the yield concerns, Krishnan remains constructive on equities for 2026, citing the strength of corporate earnings. “When you look at the earnings trajectory for equities, it’s just gone from strength to strength for 2026,” she said in a Bloomberg Radio interview. While technology ( VGT ), ( XLK ), ( IYW ) continues to lead the charge, Krishnan noted that “the 493 are also pulling their own weight” outside the mega-cap tech names. However, Schroders has paused its rotation into cyclical and value-oriented stocks due to challenging conditions in the bond market. Krishnan described the combination of inflation-driven higher bond yields, elevated bond volatility, and the pricing out of central bank rate cuts as “a toxic mix for cyclical parts of the market.” On asset allocation, the firm has moved to a neutral “pause” on gold while upgrading its view on the U.S. dollar ( DXY ). Krishnan pointed to “U.S. exceptionalism” and America’s energy independence as key factors supporting the greenback, though she acknowledged that a political risk premium remains embedded in the currency following tensions in the Middle East related to the Iran conflict. Rather than focusing on China, Krishnan favors Asian tech markets like South Korea ( EWY ) and Taiwan ( EWT ) to capture the ongoing semiconductor cycle. For investors rattled by geopolitical uncertainty, Krishnan offered perspective on the nature of such shocks. “When it comes to geopolitical shocks like this, they are—while often scary in the moment—short lived when you compare to other sorts of shocks like labor market weakening or ...
bodrumsurf Guggenheim and Piper Sandler have initiated coverage of Generate Biomedicines ( GENB ) at, respectively, buy and outperform. Guggenheim's price target is $30 (~140% upside based on March 23 close), while Piper Sandler set theirs at $24 (~92% upside). Generate's platform is, according to Piper's Edward Tenthoff, a "protein discovery engine that integrates powerful AI/ML algorithms with h...
bodrumsurf Guggenheim and Piper Sandler have initiated coverage of Generate Biomedicines ( GENB ) at, respectively, buy and outperform. Guggenheim's price target is $30 (~140% upside based on March 23 close), while Piper Sandler set theirs at $24 (~92% upside). Generate's platform is, according to Piper's Edward Tenthoff, a "protein discovery engine that integrates powerful AI/ML algorithms with high speed protein synthesis and multiplexed assays to design and validate novel therapeutics." He highlighted anti-t hymic stromal lymphopoietin ("TSLP") antibody GB-0895, which is in two phase 3 trials for severe asthma. He added Generate is gearing up to begin phase I studies of MMAE neutralizer GB-4362 along with Padcev (enfortumab vedotin) and Keytruda (pembrolizumab) in metastatic urothelial cancer. Guggenheim's Seamus Fernandez is optimistic about GB-0895 as it is dosed every six months. He models a 70% probability of success in asthma and 40% in COPD resulting in global peak risk-adjusted sales of, respectively, ~$3.5B and ~$1B. More on Generate Biomedicines, Inc. Generate Biomedicines Begins IPO Push With Major Collaboration Deals Financial information for Generate Biomedicines, Inc.
If you're in retirement or are just a risk-averse investor who wants to collect dividend income, your best option is to go with exchange-traded funds (ETFs). While the yield you'll earn from an ETF is often lower than what you might get with an individual stock, your risk is also far lower. That's because even if an individual stock cuts or suspends its payout, it may not have an adverse effect on...
If you're in retirement or are just a risk-averse investor who wants to collect dividend income, your best option is to go with exchange-traded funds (ETFs). While the yield you'll earn from an ETF is often lower than what you might get with an individual stock, your risk is also far lower. That's because even if an individual stock cuts or suspends its payout, it may not have an adverse effect on the yield you'll collect from an ETF, due to how diverse it is. An ETF that can be ideal for investors seeking both high dividend income and plenty of diversification is the Vanguard International High Dividend Yield ETF (NASDAQ: VYMI) . Here's why you'll want to consider adding this fund to your portfolio today. Image source: Getty Images. Continue reading
Nikada Citadel Securities, the market-making arm of billionaire Ken Griffin's businesses, pulled in a record $12.2B in trading revenue last year, a 25% increase from its previous full-year record, according to a media report on Tuesday. Further down its income statement, the firm produced ~$6.5B in earnings before taxes, depreciation, and amortization in 2025, Bloomberg News reported, citing peopl...
Nikada Citadel Securities, the market-making arm of billionaire Ken Griffin's businesses, pulled in a record $12.2B in trading revenue last year, a 25% increase from its previous full-year record, according to a media report on Tuesday. Further down its income statement, the firm produced ~$6.5B in earnings before taxes, depreciation, and amortization in 2025, Bloomberg News reported, citing people familiar with the matter. Compensation costs for the first 11 months of the year grew to $3.5B vs. ~$3B for the entire year in 2024, they added . Citadel Securities and its high-speed trading rivals benefit during highly volatile periods, as drastic swings in fixed-income and equity markets give them the opportunity to provide liquidity to keep markets flowing. The firm, founded in 2002, serves asset managers, broker-dealers, hedge funds, government agencies, and public pension agencies in its role of matching buyers and sellers in equity and fixed-income markets. Some other major players in high-speed trading, such as Jane Street and Hudson River Trading, also have hedge fund-style trading units to complement earnings garnered from their market-making operations. Ken Griffin also has a hedge fund business, but its business doesn't contribute to Citadel Securities' revenue. Publicly traded Virtu Financial ( VIRT ), which also engages in high-speed trading, posted $3.63B in revenue in 2025, up 26% Y/Y, and adjusted EBITDA of $1.40B surged `52% Y/Y. Market-making net trading income jumped 34% to $2.41B. More on Markets A Golden Buying Opportunity: I'm Loading Up While Panic Selling Takes Over Surging Oil Prices May Finally Break The Bond Market Wall Street trades lower as Iran tensions weigh on market sentiment US2Y surges toward 4% as weak auction signals cracks in demand
Wachiwit As part of its efforts to relaunch a more personalized version of its Siri assistant after it was delayed last year, Apple ( AAPL ) may unveil a standalone Siri app and an “Ask Siri” button in its upcoming iOS 27, Bloomberg reported. Apple shares rose 0.5% in late afternoon trading. The new Siri, which Apple has promised would be released in 2026, is likely to have an updated look and hav...
Wachiwit As part of its efforts to relaunch a more personalized version of its Siri assistant after it was delayed last year, Apple ( AAPL ) may unveil a standalone Siri app and an “Ask Siri” button in its upcoming iOS 27, Bloomberg reported. Apple shares rose 0.5% in late afternoon trading. The new Siri, which Apple has promised would be released in 2026, is likely to have an updated look and have an experience similar to other generative artificial intelligence chatbots, the news outlet added , citing people with knowledge of the matter. It is set to be unveiled in June, when Apple holds its annual developers conference and announces updates to its various operating systems. Apple confirmed on Monday that the event, known as the Worldwide Developers Conference, or WWDC, will take place between June 8 and June 12. The new version of Siri, which has the internal code name of Campo, will have access to a person's data on their respective Apple devices, such as messages and emails, to help them with tasks. The app will also be able to complete tasks inside apps, access news, and search the internet, the news outlet added. Apple did not immediately respond to a request for comment from Seeking Alpha. Earlier this year, Apple chose Google's ( GOOG ) ( GOOGL ) Gemini AI models to help it with its artificial intelligence endeavors, alongside its own Apple foundation models. In September, it was reported that Apple was working on an internal app, akin to ChatGPT, to help the new version of its voice assistant Siri. J.P. Morgan analysts, led by Samik Chatterjee, recently said that a personalized Siri could help the tech giant. "In our view, launch of personalized Siri to enable services to maintain conversational context on the AI Companions will play a major role in determining the likelihood of success for Apple in relation to planned AI Companions, including integration with applications relative to its multimodal inputs across voice, text and images," the analysts wrote...
Wachiwit As part of its efforts to relaunch a more personalized version of its Siri assistant after it was delayed last year, Apple ( AAPL ) may unveil a standalone Siri app and an “Ask Siri” button in its upcoming iOS 27, Bloomberg reported. Apple shares rose 0.5% in late afternoon trading. The new Siri, which Apple has promised would be released in 2026, is likely to have an updated look and hav...
Wachiwit As part of its efforts to relaunch a more personalized version of its Siri assistant after it was delayed last year, Apple ( AAPL ) may unveil a standalone Siri app and an “Ask Siri” button in its upcoming iOS 27, Bloomberg reported. Apple shares rose 0.5% in late afternoon trading. The new Siri, which Apple has promised would be released in 2026, is likely to have an updated look and have an experience similar to other generative artificial intelligence chatbots, the news outlet added , citing people with knowledge of the matter. It is set to be unveiled in June, when Apple holds its annual developers conference and announces updates to its various operating systems. Apple confirmed on Monday that the event, known as the Worldwide Developers Conference, or WWDC, will take place between June 8 and June 12. The new version of Siri, which has the internal code name of Campo, will have access to a person's data on their respective Apple devices, such as messages and emails, to help them with tasks. The app will also be able to complete tasks inside apps, access news, and search the internet, the news outlet added. Apple did not immediately respond to a request for comment from Seeking Alpha. Earlier this year, Apple chose Google's ( GOOG ) ( GOOGL ) Gemini AI models to help it with its artificial intelligence endeavors, alongside its own Apple foundation models. In September, it was reported that Apple was working on an internal app, akin to ChatGPT, to help the new version of its voice assistant Siri. J.P. Morgan analysts, led by Samik Chatterjee, recently said that a personalized Siri could help the tech giant. "In our view, launch of personalized Siri to enable services to maintain conversational context on the AI Companions will play a major role in determining the likelihood of success for Apple in relation to planned AI Companions, including integration with applications relative to its multimodal inputs across voice, text and images," the analysts wrote...
Director Harald von Heynitz of Fluence Energy (NASDAQ:FLNC) reported the sale of 10,000 shares of Class A Common Stock for a total consideration of approximately $165,000 on March 18, 2026, as disclosed in the SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($16.50); post-transaction value based on March 18, 2026 market close ($16.50). * 1-year performance...
Director Harald von Heynitz of Fluence Energy (NASDAQ:FLNC) reported the sale of 10,000 shares of Class A Common Stock for a total consideration of approximately $165,000 on March 18, 2026, as disclosed in the SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($16.50); post-transaction value based on March 18, 2026 market close ($16.50). * 1-year performance calculated using March 18th, 2026 as the reference date. Continue reading
Zolak/iStock via Getty Images At a glance Performance The Fund returned 1.49% and the Bloomberg U.S. Corporate High Yield Bond Index returned 1.31%. Contributors/detractors Our allocation to high-yield corporates was the main driver of excess returns, supported by an allocation to loans. Exposure to convertibles and common stock detracted. Outlook A resilient economy, AI-driven investment, and Fed...
Zolak/iStock via Getty Images At a glance Performance The Fund returned 1.49% and the Bloomberg U.S. Corporate High Yield Bond Index returned 1.31%. Contributors/detractors Our allocation to high-yield corporates was the main driver of excess returns, supported by an allocation to loans. Exposure to convertibles and common stock detracted. Outlook A resilient economy, AI-driven investment, and Fed support create a favorable backdrop for high yield in 2026. Active strategies focused on carry and risk-adjusted returns remain essential, in our view. Portfolio management Tom Ross, CFA Brent Olson Brad Smith Investment environment The U.S. high-yield corporate bond market posted strong quarterly results. Short-term Treasury yields rallied, helping to drive positive returns and a steeper yield curve. High yield outperformed U.S. Treasuries and investment-grade corporates. In December, the Federal Reserve (Fed) cut interest rates by 25 basis points (BPs) for a third consecutive meeting in response to a weaker jobs market, with the U.S. unemployment rate hitting a four-year high of 4.6% in November. Other data releases were more positive, with inflation dipping below expectations in November and a third-quarter gross domestic product (GDP) growth reading that surprised on the upside. Despite policymakers indicating, in aggregate, that they anticipate one more cut in 2026, futures markets are pricing in an additional two to three cuts next year. Speculation also continued to build around who would replace Fed Chair Jerome Powell when his term expires in May and the degree to which this appointment might signal a shift in the central bank's traditional operational independence. The U.S. 5-year Treasury yield ended the quarter virtually unchanged, at 3.73%. Corporate high-yield credit spreads narrowed by one basis point, to 266 bps. Portfolio review Security selection within our high-yield corporate holdings was the main contributor to relative performance, supported by exposu...
Wells Fargo has been bearish on hyperscalers for years. That position just shifted. Oh Sung Kwon, the firm's chief equity strategist, told CNBC on March 23 that the group is starting to look attractive again. "I think hyperscalers are starting to look a lot more interesting," he said. The shift is ...
Wells Fargo has been bearish on hyperscalers for years. That position just shifted. Oh Sung Kwon, the firm's chief equity strategist, told CNBC on March 23 that the group is starting to look attractive again. "I think hyperscalers are starting to look a lot more interesting," he said. The shift is ...