For decades, the risky world of early-stage mining ventures was the playground of institutional funds and commodity trading houses. But after a more than 900% rally in a little-known Canadian potash developer last year, a new class of investors is moving in: family offices. Millennial Potash Corp. has attracted a group of ultra-high-net-worth clans that are increasingly bypassing traditional funds...
For decades, the risky world of early-stage mining ventures was the playground of institutional funds and commodity trading houses. But after a more than 900% rally in a little-known Canadian potash developer last year, a new class of investors is moving in: family offices. Millennial Potash Corp. has attracted a group of ultra-high-net-worth clans that are increasingly bypassing traditional funds to take direct stakes in critical resources. Potash, a potassium-rich salt, is a fertilizer for crops ranging from cereals to potatoes, helping boost yields and plant resilience. The Vancouver-area miner is developing a potash project in Gabon and has no other revenue. “We have actually seen very unusual interest coming from family offices,” said Chairman Farhad Abasov . “Usually, we don’t see a lot of this capital coming into the junior mining sector.” The investment push is led by The Quaternary Group, a Singapore-based investment entity representing Ross Hamou-Jennings , the former Asia chairman of Cargill Inc. , the commodities and agriculture giant. Quaternary owns roughly 25% of the potash miner, and Hamou-Jennings is using his industry knowledge to bridge a valuation gap he identified in the company. He views potash as an essential, $30 billion niche market where global powers like the US and China lack self-sufficiency. The US added potash to its list of critical minerals in November, boosting Millennial’s shares. The Banio project plans to use the deep-water port at Mayumba, along the west coast of Africa. That will allow shipments to reach major markets like Brazil while bypassing traditional choke points, according to Millennial’s website . Despite a roughly one-third pullback after last year’s 900% surge, the company maintains a market value of C$281 million ($205 million). SCP Research rates the stock a “buy,” banking on Abasov’s proven track record at Potash One and Allana Potash to drive the next phase of growth. Another backer is Hong Kong’s Cavendish Inves...
The world’s largest reinsurer just printed a €1.7 billion (about $2 billion) profit while holding the line against a softening market and the private credit crunch.
The world’s largest reinsurer just printed a €1.7 billion (about $2 billion) profit while holding the line against a softening market and the private credit crunch.
Starting Tuesday, parents can get more details about what their teens are up to on Instagram. Meta is adding a feature to its Teen Accounts that shows parents the "general topics their teens engage with," like "basketball" or "fashion." Meta also says it will soon start notifying parents when their teen adds a new interest to their algorithm. In December, Meta announced its "Your Algorithm" featur...
Starting Tuesday, parents can get more details about what their teens are up to on Instagram. Meta is adding a feature to its Teen Accounts that shows parents the "general topics their teens engage with," like "basketball" or "fashion." Meta also says it will soon start notifying parents when their teen adds a new interest to their algorithm. In December, Meta announced its "Your Algorithm" feature, which lets users choose topics they want to see more or less of in Instagram. Meta noted in its Tuesday blog post that users with Teen Accounts are already limited in what topics they can add to their algorithm - content shown to users with teen … Read the full story at The Verge.
As US Treasury traders debate whether the 30-year yield will mount a sustained push past 5%, one market veteran is pushing a far bolder wager. Steven Barrow , head of G10 strategy at Standard Bank in London, predicts the 10-year yield will hit 5% this year because of persistent inflation. Besides a couple hours of frenetic trading in October 2023, it’s a level the US benchmark bond rate hasn’t sur...
As US Treasury traders debate whether the 30-year yield will mount a sustained push past 5%, one market veteran is pushing a far bolder wager. Steven Barrow , head of G10 strategy at Standard Bank in London, predicts the 10-year yield will hit 5% this year because of persistent inflation. Besides a couple hours of frenetic trading in October 2023, it’s a level the US benchmark bond rate hasn’t surpassed since 2007. It’s also more than 80 basis points above the average year-end estimate of strategists surveyed by Bloomberg. The disruption to global energy markets caused by the war in the Middle East has reignited inflation concerns, making Barrow’s 5% yield prediction — which he made earlier this year — more plausible, if still far from consensus. “The view has not been dictated by the war. It’s just been enhanced by the war,” Barrow said via telephone. “The Fed is probably going to keep policy too easy, structural inflationary pressures are rising, and I don’t think the government is going to do anything about the budget side.” The 10-year rate traded around 4.46 % on Tuesday, compared to 3.94% before the US and Israel’s attacks on Iran in late February. Bringing down the benchmark rate has been a key sticking point for the Trump administration and Treasury Secretary Scott Bessent. US Treasuries, alongside other bond markets, have been battered by the surge in energy prices due to the conflict in the Middle East. That risks feeding through to other parts of the economy , and is driving up market gauges of inflation risk. A break above 5% would fuel debt sustainability concerns, pressure global corporate borrowing costs and risk spurring a rotation away from stocks. Even so, a 5% yield in the benchmark US bond would require a much-larger selloff. It’s a threshold that carries psychological importance for traders, with 30-year bonds often attracting dip buyers when they trade around that level. The 10-year, meanwhile, has failed to eclipse 4.5% so far this year. “Most...
Caesars Entertainment ( CZR ) fell 9% on no apparent news as investors await for an update on the potential sale of the company. Fertitta Entertainment was interested in purchasing Caesars for $32 a share, according to media reports in recent months. Last month CTFN reported that exclusive talks between Caesars ( CZR ) and Fertitta had been extended after a death in the Fertitta family. Fertitta's...
Caesars Entertainment ( CZR ) fell 9% on no apparent news as investors await for an update on the potential sale of the company. Fertitta Entertainment was interested in purchasing Caesars for $32 a share, according to media reports in recent months. Last month CTFN reported that exclusive talks between Caesars ( CZR ) and Fertitta had been extended after a death in the Fertitta family. Fertitta's plan is to combine his Landry's restaurants and Golden Nugget properties with Caesars ( CZR ). The financing for a transaction would include a $2 billion to $3 billion in equity and $4 billion to $5 billion in new borrowing against the assets, according to a Bloomberg report. Caesars ( CZR ) didn't immediately respond to Seeking Alpha's email request for comment. Caesars ( CZR ) has short interest of 8.6%. More on Caesars Entertainment Caesars Entertainment, Inc. (CZR) Q1 2026 Earnings Call Transcript Caesars Entertainment, Inc. 2026 Q1 - Results - Earnings Call Presentation Caesars Entertainment Seems Headed Toward A Deal The VICI-Golden Entertainment deal reinforces the dominant casino sale-leaseback trend A big month for baccarat and sportsbooks boosts Las Vegas Strip casinos in March
Earnings Call Insights: PACS Group, Inc. (PACS) Q1 2026 Management View “We’re very pleased to report a strong start to 2026 with continued operational consistency across our platform,” said CEO Jason Murray (Co-Founder, CEO & Chairman), adding priorities remain to “drive performance across our existing portfolio, continue advancing facilities through their integration life cycle and allocate capi...
Earnings Call Insights: PACS Group, Inc. (PACS) Q1 2026 Management View “We’re very pleased to report a strong start to 2026 with continued operational consistency across our platform,” said CEO Jason Murray (Co-Founder, CEO & Chairman), adding priorities remain to “drive performance across our existing portfolio, continue advancing facilities through their integration life cycle and allocate capital in a disciplined manner.” Murray said PACS had “323 facilities across 17 states” as of March 31, 2026, and described organic growth as facilities progress “from new to ramping to mature.” On managed care concerns, he said, “we have not seen those concerns impact our business,” and noted “admission trends and skilled mix, which includes managed care, remain very strong across the portfolio.” Murray highlighted quality metrics: “222 of our facilities are rated 4 or 5 stars under CMS quality measure ratings, up from 207 at the end of 2025,” and said mature facilities’ “average CMS quality measure star rating remains 4.4.” He also addressed investigations: “These matters continue to progress through the normal course, and we remain fully cooperative,” while stating, “we are unable to estimate the timing of resolution.” CFO Carey Hendrickson (Chief Financial Officer) reported Q1 performance: “our revenue was $1.42 billion,” “net income totaled $80.7 million,” “adjusted EBITDA was $170.4 million,” and “diluted earnings per share for the quarter was $0.50.” He added adjusted EBITDA included “approximately $16.3 million” from California’s WQIP, and said PACS’ Board “approved a $250 million share repurchase authorization.” Outlook The analysts-estimates JSON used non-standard quarter formatting, so no estimates comparison is included. Hendrickson said, “For full year 2026, we are significantly increasing our adjusted EBITDA expectations… and we’re reaffirming our revenue guidance,” raising adjusted EBITDA to “$605 million to $625 million” and reaffirming revenue at “$5.65 billio...
Earnings Call Insights: eToro (ETOR) Q1 2026 Management View CEO Jonathan Assia framed Q1 as execution proof, saying, "This was a very strong quarter and a very strong start to 2026" and highlighting that "Net contribution and adjusted EBITDA were both record as a public company," with net contribution "increased by 19% year-over-year to $258 million" and adjusted EBITDA "grew 35% to $109 million....
Earnings Call Insights: eToro (ETOR) Q1 2026 Management View CEO Jonathan Assia framed Q1 as execution proof, saying, "This was a very strong quarter and a very strong start to 2026" and highlighting that "Net contribution and adjusted EBITDA were both record as a public company," with net contribution "increased by 19% year-over-year to $258 million" and adjusted EBITDA "grew 35% to $109 million." Assia emphasized mix-shift resilience: "trading continued to shift from crypto to commodities and our diversified offering kept users engaged," and said commodities were the key driver as "commodities... represented 60% of trading commission in the first quarter, with volumes increasing nearly fourfold year-over-year." On product and strategy, Assia said the company rolled out "24/7 trading across multiple asset classes" and expanded market access: "With the addition this quarter of Japanese equities, eToro users can now trade equities from 26 of the world's leading stock exchanges." He also tied U.S. crypto expansion to licensing: "we expanded our crypto offering with the launch of crypto trading for users in New York... following the successful activation of our BitLicense and Money Transmitter License." CFO Meron Shani reinforced margin and KPI traction: "our adjusted EBITDA margin was 42% compared to 37% a year ago" and said Q1 ended with "AUA increasing 15% year-over-year to $17 billion" and "funded accounts growing 12% year-over-year to $4.02 million." On M&A and capital returns, Assia said, "last month, we announced the acquisition of Zengo," adding that, "we continue to thoughtfully pursue strategic initiatives, including expansion through acquisitions and our share repurchase program." Shani quantified Q1 buybacks: "we repurchased approximately 3.3 million shares with an aggregate of $103 million." Outlook Shani reiterated the planned marketing ramp: "we plan to increase our sales and marketing investment from 21% last year, scaling gradually to 25% of net contri...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting ...
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it’s us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it’s contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting. If you like chatting with us, check out the Odd Lots Discord , where you can hang out and talk with us and with other listeners 24/7. Also if you like chatting with us, you can chat with us at our live NYC on May 28 . We have some great guests to announce, but first up is Jeremy Maletz, head of macro trading and prediction markets at Susquehanna International Group . We’ll be talking to him about the institutionalization of prediction markets, and solving the chicken-and-egg problem that arises with the creation of any new market. Get your tickets here . What Joe is thinking about today Today we got the April CPI report and it was hot . Of course, we knew it was going to be hot because the war in Iran has supercharged the price of oil. Even beyond the headline numbers, what we’re seeing is warm and rising. As always, when it comes to inflation metrics, you can slice and dice them to tell any story you want — which is a good reason to just look at headline numbers and their direction — but if you look at, say, CPI Core Services Less Housing, which some might call a “supercore” measure (because it also excludes rent along with energy), then that’s definitely going in the wrong direction. It’s at its highest level since February 2025. So obviously that’s the opposite of what the Fed would like to see from an inflation standpoint. But also it looks like the labor market isn’t doing too bad? Last week, we got April Non-Farm Payrolls, which grew by 115K, well above the 65K that was expected. And the prior month’s 178K number was revised up to 185K. If you look at Bloomberg Economics’ Labor Market Sur...
Earnings Call Insights: Aramark (ARMK) Q2 fiscal 2026 Management View CEO John Zillmer said the quarter reflected “continued momentum,” citing “a client retention rate exceeding 98%,” “organic revenue growth at record levels in both FSS U.S. and international,” and “new client wins that have already reached an unprecedented total of $1 billion this fiscal year-to-date.” CEO Zillmer highlighted a n...
Earnings Call Insights: Aramark (ARMK) Q2 fiscal 2026 Management View CEO John Zillmer said the quarter reflected “continued momentum,” citing “a client retention rate exceeding 98%,” “organic revenue growth at record levels in both FSS U.S. and international,” and “new client wins that have already reached an unprecedented total of $1 billion this fiscal year-to-date.” CEO Zillmer highlighted a new growth vector: “we’re very excited about our entry into the hyperscale AI data center market,” adding that Aramark has a “newly awarded multiyear engagement with a top global hyperscaler” and that the client “is expected to become the largest in our portfolio.” CEO Zillmer said Aramark launched “Aramark Nexus,” describing it as “a new platform delivering integrated hospitality and workforce support services in large-scale, complex and often remote operating environments,” and stated the hyperscaler engagement is expected to generate “margins above the company average.” CFO James Tarangelo said, “operating income was $220 million,” and added, “our quarterly performance resulted in GAAP EPS of $0.38 and adjusted EPS of $0.49.” Outlook CFO Tarangelo said Aramark “updated our fiscal ’26 outlook for organic revenue growth to the high end of our 7% to 9% range,” while “reaffirming our expectations for AOI growth to be up 12% to 17% and adjusted EPS growth between 20% and 25%.” CFO Tarangelo said, “the outlook for fiscal ’26 does not currently reflect the multiyear engagement with a top global hyperscaler that is currently underway,” and CEO Zillmer reiterated the hyperscaler ramp-up impact “hasn’t been projected into the forecast.” In Q&A, CFO Tarangelo framed margin cadence around new openings, saying Aramark is “opening a record level of new business in year,” and added, “those margins will scale up as they normally do… and… continue to provide tailwinds into fiscal ’27.” Financial Results CEO Zillmer said Q2 organic revenue “grew 12% to $4.8 billion,” including “an estimate...
Earnings Call Insights: Arvinas, Inc. (ARVN) Q1 2026 Management View "Our optimism was validated by the recent FDA approval of vepdeg, now known as VEPPANU. And yesterday afternoon, we were pleased to announce that we and Pfizer have entered into a global licensing agreement with Rigel Pharmaceuticals for the commercialization, development and manufacturing of VEPPANU." (CEO, President & Director ...
Earnings Call Insights: Arvinas, Inc. (ARVN) Q1 2026 Management View "Our optimism was validated by the recent FDA approval of vepdeg, now known as VEPPANU. And yesterday afternoon, we were pleased to announce that we and Pfizer have entered into a global licensing agreement with Rigel Pharmaceuticals for the commercialization, development and manufacturing of VEPPANU." (CEO, President & Director Randy Teel) "This agreement allows Arvinas to invest in the next wave of innovation across our pipeline while maintaining a strong and disciplined approach to capital allocation." (CEO, President & Director Teel) "Following the 30-day review period, the FDA requested final data from our chronic tox studies in nonhuman primates prior to authorizing the initiation of the Phase 1b in the U.S. in patients with PSP." (Chief Medical Officer Noah Berkowitz) "Given this requirement, while no patients in the U.S. have been treated, the planned trial is on clinical hold and will not begin until we provide these data, which we expect will be available in mid-2026." (Chief Medical Officer Berkowitz) "Revenue for the 3 months ended March 31, 2026, totaled $15.6 million compared to $188.8 million in revenue for the same period in 2025." (CFO & Treasurer Andrew Saik) "We continue to maintain our cash runway guidance into the second half of 2028." (CFO & Treasurer Saik) Outlook "We anticipate the U.S. trial will begin by the end of 2026. We do not anticipate this will impact our plans for trials in the EU. So there's no change in our guidance on the start of the Phase 2 study, which we are planning as a global study." (Chief Medical Officer Berkowitz) "We view this rapid enrollment as a strong indicator of investigator enthusiasm and unmet medical need in KRAS-driven cancers." (Chief Medical Officer Berkowitz) "We look forward to sharing additional clinical data from our ongoing Phase 1 monotherapy trial in patients with relapsed or refractory non-Hodgkin's lymphoma later this year." (Chie...
Earnings Call Insights: Nayax (NYAX) Q1 2026 Management View "We had an excellent start to 2026 with strong operational and financial results across the business. Revenue grew 32% to $107 million with organic revenue growth of 26%. Adjusted EBITDA margin expanded to 13%... we are reaffirming our financial guidance for the year." (Co-founder, CEO & Chairman of the Board Yair Nechmad) "This quarter,...
Earnings Call Insights: Nayax (NYAX) Q1 2026 Management View "We had an excellent start to 2026 with strong operational and financial results across the business. Revenue grew 32% to $107 million with organic revenue growth of 26%. Adjusted EBITDA margin expanded to 13%... we are reaffirming our financial guidance for the year." (Co-founder, CEO & Chairman of the Board Yair Nechmad) "This quarter, our installed base surpassed 1.5 million devices... Our customer base reached 120,000... total transaction value grew 33%, with average transaction value continued to expand as we shift further into higher-value verticals such as EV charging, amusement and car wash." (CEO Nechmad) "Hardware sales were strong this quarter with growth of 46%... the rollout of our PIN-on-glass VPOS Media devices drove significant hardware demand in Europe." (CEO Nechmad) "Our Yellow account... in partnership with Adyen is in pilot phase and advancing well... We expect to have more to share in Q2 about our embedded banking initiatives." (CEO Nechmad) "On the product side, we are launching in Q2 a new AI intelligence layer in MoMa... conversational assistance for business insight, AI-driven shelf strategy suggestion and rapid merchandising plan setup using visual recognition." (CEO Nechmad) "We are very pleased with our results for the first quarter as we continue to scale our platform... revenue grew 32% to approximately $107 million... Recurring revenue grew 27% and represented approximately 74% of total revenue." (Chief Financial Officer Sagit Manor) Outlook "We are reaffirming our financial outlook for 2026. Our revenue guidance for the year remains $510 million to $520 million... We expect an adjusted EBITDA margin of approximately 17%, which represents a range of $85 million to $90 million." (CFO Manor) "We continue to expect free cash flow conversion from adjusted EBITDA of approximately 40% for the year." (CFO Manor) "We are not changing the guidance... different from last year that we ...
The Memory Shortage Has Supercharged This AI Stock That Has Jumped 293% in a Year. It Can Still Soar Higher (Hint: It's Not Micron or Sandisk) The Motley Fool
The Memory Shortage Has Supercharged This AI Stock That Has Jumped 293% in a Year. It Can Still Soar Higher (Hint: It's Not Micron or Sandisk) The Motley Fool
"Bloomberg Crypto" covers the people, transactions, and technology shaping the world of decentralized finance. Today's guests: Coinbase Vice President of US Policy Kara Calvert, WalletConnect CEO Jess Houlgrave, Elliptic CEO Simone Maini, Societe Generale-Forge CEO Jean-Marc Stenger, and VARA Head of Market Assurance Sean McHugh. (Source: Bloomberg)
"Bloomberg Crypto" covers the people, transactions, and technology shaping the world of decentralized finance. Today's guests: Coinbase Vice President of US Policy Kara Calvert, WalletConnect CEO Jess Houlgrave, Elliptic CEO Simone Maini, Societe Generale-Forge CEO Jean-Marc Stenger, and VARA Head of Market Assurance Sean McHugh. (Source: Bloomberg)
The OpenAI chief rejects claims he deceived Elon Musk as high-stakes AI trial nears its end Sign up for the Breaking News US newsletter email The OpenAI CEO, Sam Altman , took the stand on Tuesday to defend himself and his company against a lawsuit by Elon Musk . Altman is set to be one of the final witnesses in the trial, which has pitted two of the tech industry’s most powerful men against each ...
The OpenAI chief rejects claims he deceived Elon Musk as high-stakes AI trial nears its end Sign up for the Breaking News US newsletter email The OpenAI CEO, Sam Altman , took the stand on Tuesday to defend himself and his company against a lawsuit by Elon Musk . Altman is set to be one of the final witnesses in the trial, which has pitted two of the tech industry’s most powerful men against each other in a dramatic courtroom showdown. Musk has accused Altman and OpenAI of breaking the AI firm’s founding agreement by restructuring it into a for-profit enterprise, alleging that Altman essentially swindled him into co-founding the company and providing tens of millions in financial backing. Musk also claims Altman unjustly enriched himself in the process and is seeking the CEO’s removal from OpenAI, the redistribution of $134bn to the firm’s non-profit and the undoing of its for-profit conversion. Continue reading...