As equity markets continue their climb on a narrow and crowded trade with relatively thin volume, it is starting to look more fragile than just a few weeks ago. The CPI shock on Tuesday made that clear: headline inflation accelerated to +0.6% month over month and +3.8% year over year, the hottest annual pace since May 2023, while core CPI re-accelerated and the 10-year yield jumped toward a one-ye...
As equity markets continue their climb on a narrow and crowded trade with relatively thin volume, it is starting to look more fragile than just a few weeks ago. The CPI shock on Tuesday made that clear: headline inflation accelerated to +0.6% month over month and +3.8% year over year, the hottest annual pace since May 2023, while core CPI re-accelerated and the 10-year yield jumped toward a one-year high. Even though the major indices recovered mostly by the close, the intraday damage in semis, small caps, and long-duration growth stocks was a reminder of how quickly a narrow, crowded market can unwind when investors head for the exit. That is why a hedge here makes sense while markets sit near highs, VIX remains compressed near the high teens, and investors are still leaning heavily into a handful of leadership names as the macro backdrop deteriorates. Oil remains elevated, the Strait of Hormuz is still functionally closed, June rate-cut odds have collapsed to near zero, and the probability of a hike before 2028 has risen materially. In other words, the market is expensive, overbought and increasingly dependent on perfect outcomes at a time when the macro tape is becoming less forgiving. Trade timing & outlook Overbought setup: The index is stretched after a sharp rally off the April lows, with momentum still positive but increasingly extended. Fragile leadership: The intraday sell-off in semis and small caps showed how narrow the leadership has become and how quickly it can reverse. Downside risk: If inflation remains sticky o yields push higher from here, SPY looks vulnerable to a move back toward the $705 area, which is the downside target for this hedge. From a technical standpoint, this is not yet a confirmed top, but it is an environment where buyer exhaustion is becoming easier to imagine than another clean leg higher. Macro thesis Disinflation trade is breaking down Tuesday's CPI report showed that the inflation shock is no longer just about energy. Shelter...
People are reflected at the Capital One building on April 20, 2026 in New York City. Zamek | View Press | Corbis News | Getty Images Capital One filed a lawsuit Tuesday against operators of alleged "scam campaigns," accusing them of something unexpected: trademark infringement. The suit, filed in the U.S. District Court for the Eastern District of Virginia, lists 10 "persons and/or entities of unk...
People are reflected at the Capital One building on April 20, 2026 in New York City. Zamek | View Press | Corbis News | Getty Images Capital One filed a lawsuit Tuesday against operators of alleged "scam campaigns," accusing them of something unexpected: trademark infringement. The suit, filed in the U.S. District Court for the Eastern District of Virginia, lists 10 "persons and/or entities of unknown identity" as defendants. Those John Does operate large-scale robocall and telemarketing campaigns that misuse trademarks for Capital One or its subsidiary Discover, according to the lawsuit. The complaint alleges that the defendants use automated or prerecorded calls posing as representatives for the bank, and follow familiar scripts that warn of suspicious charges and ask the recipient to confirm the transaction or their identity. "Using these illegal communications referencing the CAPITAL ONE and DISCOVER trademarks, Defendants misled and/or deceived consumers, and targeted consumers across the country," according to the lawsuit. Read more CNBC personal finance coverage Social Security 'break-even' claims get social media buzz — experts urge caution Here's the inflation breakdown for April 2026 — in one chart Trump said $465,000 in retirement savings is 'rich.' Is it? New college grads overestimate starting salaries by nearly $24,000, report finds CNBC's Financial Advisor 100: Best financial advisors, top firms ranked Capital One told CNBC that it is using trademark and false advertising law to make its case because the legal process of discovery gives the bank the opportunity to get more information that can help it trace the scammers. "This litigation is an opportunity to try and go play a bit of offense," said Chad Miller, vice president of fraud strategy and analysis at Capital One. New technology has made it easier for companies to see how many scammers are trying to call their customers, he said, versus how much outreach they do on their own. The lawsuit comes ...
Editor’s note: The article has been corrected to reflect the correct share price of Sandisk shares. Sandisk Corporation (NASDAQ:SNDK) shares are down by about 3% at last check on Wednesday amid fresh reports that President Donald Trump will discuss AI-chip policy with President Xi Jinping. China accounted for 28% of SanDisk’s fiscal 2025 revenue, according to an annual regulatory filing. The count...
Editor’s note: The article has been corrected to reflect the correct share price of Sandisk shares. Sandisk Corporation (NASDAQ:SNDK) shares are down by about 3% at last check on Wednesday amid fresh reports that President Donald Trump will discuss AI-chip policy with President Xi Jinping. China accounted for 28% of SanDisk’s fiscal 2025 revenue, according to an annual regulatory filing. The country accounted for 38% of its revenue in fiscal 2024 and 2023. SanDisk built a global reputation as a
The country’s new leadership has pledged to reverse years of democratic backsliding, but they must act quickly • Don’t get This Is Europe delivered to your inbox? Sign up here Under blue skies on Saturday, crowds cheered as the EU flag was raised on the facade of the Hungarian parliament after a long absence. It was a powerful symbol on the day Péter Magyar was sworn in as Hungary’s prime minister...
The country’s new leadership has pledged to reverse years of democratic backsliding, but they must act quickly • Don’t get This Is Europe delivered to your inbox? Sign up here Under blue skies on Saturday, crowds cheered as the EU flag was raised on the facade of the Hungarian parliament after a long absence. It was a powerful symbol on the day Péter Magyar was sworn in as Hungary’s prime minister , with a declaration that Hungarians had given his party a mandate to launch “a new chapter” in the country’s history, and change the system. The new government, seen as an experienced technocratic team, immediately signalled its new direction. “Hungary’s place is in Europe; naturally, firmly and without question,” foreign minister designate Anita Orbán said. Soon after, Hungary dropped its long-standing veto over sanctions against violent Israeli settlers – a sign it no longer sought to be outside the EU mainstream. Continue reading...
Skechers USA Inc. increased its offer to resolve a lawsuit brought by hedge funds and other investors challenging 3G Capital’s $9.4 billion purchase of the footwear maker after settlement talks failed last year, according to people familiar with the situation. The company in April proposed to resolve the matter for $65 per share, or $2 per share above what 3G Capital paid in its buyout of Skechers...
Skechers USA Inc. increased its offer to resolve a lawsuit brought by hedge funds and other investors challenging 3G Capital’s $9.4 billion purchase of the footwear maker after settlement talks failed last year, according to people familiar with the situation. The company in April proposed to resolve the matter for $65 per share, or $2 per share above what 3G Capital paid in its buyout of Skechers in September, said the people, who asked not to be named discussing a confidential matter. The offer was more than the $64 a share proposed by the company last year, the people said. Spokespeople for Skechers and 3G declined to comment. A number of investment firms pursued the lawsuit as part of a so-called appraisal arbitrage strategy, which involves buying a company’s shares after a deal announcement and then objecting in the hopes a judge appraises the deal at a higher price. The play is allowed in Delaware, where most US firms are incorporated. Hedge funds also can benefit from accumulated interest on their shares as the litigation plays out. The Skechers case is on track to become one of the largest appraisal cases in Delaware history, with original investors that challenged the deal price owning $1.3 billion worth of shares. The case is still in the early stages, and the judge has yet to set a trial date. Appraisal arbitrage fell out of favor in the state several years ago after the country’s top business court issued unfavorable rulings that awarded the deal price or less. These challenges have experienced a recent resurgence in Delaware with investment firms targeting some large buyouts they view as conflicted. Read More: AQR, Elliott Among Hedge Funds Reviving Appraisal Arbitrage Play Multiple sophisticated investors last year opposed the price of the Skechers buyout arguing that the company’s founder Robert Greenberg and his son entered an unfair deal during the chaos created by President Donald Trump ’s tariff announcements on April 2, 2025. The announcements ba...
(Bloomberg) -- Cloud computing provider Nebius Group NV reported a 684% jump in first quarter sales on increased demand for its data centers. Most Read from BloombergAmbani’s Cola War With Coke, Pepsi Spurs Fridge Bonanza in IndiaNvidia’s CEO Joins Trump in China With AI in the SpotlightMamdani Scraps Property Tax Hike, Counts Second-Home RevenueInside a Year of Chaos and Conflict at Kevin Hart’s ...
(Bloomberg) -- Cloud computing provider Nebius Group NV reported a 684% jump in first quarter sales on increased demand for its data centers. Most Read from BloombergAmbani’s Cola War With Coke, Pepsi Spurs Fridge Bonanza in IndiaNvidia’s CEO Joins Trump in China With AI in the SpotlightMamdani Scraps Property Tax Hike, Counts Second-Home RevenueInside a Year of Chaos and Conflict at Kevin Hart’s Media CompanyRevenues reached $399 million for the quarter, the Amsterdam-based company said in a st
VNET Group ( VNET ) announced on Wednesday that PJ Millennium I and PJ Millennium II have entered into a share purchase agreement with Success Flow International Investment and Choice Faith Group to purchase, in aggregate, up to 650.42M Class A ordinary shares in the company at $1.4486 per ordinary share in cash, equivalent to $8.6914 per ADS. Shares of VNET Group jumped over 28% during early trad...
VNET Group ( VNET ) announced on Wednesday that PJ Millennium I and PJ Millennium II have entered into a share purchase agreement with Success Flow International Investment and Choice Faith Group to purchase, in aggregate, up to 650.42M Class A ordinary shares in the company at $1.4486 per ordinary share in cash, equivalent to $8.6914 per ADS. Shares of VNET Group jumped over 28% during early trading hours on Wednesday. VNET also entered into a deed with PJ Millennium I and PJ Millennium II - wholly-owned subsidiaries of PJ Millennium Limited Partnership - to provide certain representations and warranties and undertakings to the buyers in connection with the proposed investment. The closing of the proposed investment is expected to take place in the fourth quarter of 2026. Immediately after the closing of the proposed investment, the buyers will hold in aggregate approximately up to 38.1% of the total issued and outstanding shares of the company, based on 1.71B ordinary shares issued and outstanding as of March 31, 2026. Under the Share Purchase Agreement, Choice Faith Group may dispose of up to 195.12M Class A ordinary shares held by it before the closing of the proposed investment, unless the buyers require the closing in respect of all of such Class A ordinary shares to take place on or before September 15, 2026. Concurrently with the signing of the share purchase agreement, PJ Millennium I and PJ Millennium II entered into an investor rights agreement with the company. Additionally, they also signed a voting and consortium agreement with Josh Sheng Chen, founder, executive chairperson, and interim chief executive officer of VNET, and certain affiliated investment vehicles, both of which will become effective upon closing of the proposed investment. Pursuant to the investor rights agreement, VNET Group will grant the buyers certain investor rights, and the buyers will be restricted from transferring or otherwise disposing of certain Class A ordinary shares of the...
Despite gains on AI benchmarks, leading frontier models still fall short of expert-level performance on real-world professional questions, according to a new evaluation from Pearl Enterprise. Across 25 models from OpenAI, Anthropic, Google DeepMind, Microsoft and others, the top systems aligned with licensed professionals only about 70% of the time, raising questions about whether benchmark progre...
Despite gains on AI benchmarks, leading frontier models still fall short of expert-level performance on real-world professional questions, according to a new evaluation from Pearl Enterprise. Across 25 models from OpenAI, Anthropic, Google DeepMind, Microsoft and others, the top systems aligned with licensed professionals only about 70% of the time, raising questions about whether benchmark progress translates into deployable trust.
imaginima/iStock via Getty Images Analog Devices ( ADI ) is entering a period of accelerated growth driven by the industrials and communications markets, underpinned by large-scale data center development and the driving need for power distribution infrastructure. With exposure to gray- and white-space infrastructure, ADI is positioned to realize exceptional growth in these markets as investments ...
imaginima/iStock via Getty Images Analog Devices ( ADI ) is entering a period of accelerated growth driven by the industrials and communications markets, underpinned by large-scale data center development and the driving need for power distribution infrastructure. With exposure to gray- and white-space infrastructure, ADI is positioned to realize exceptional growth in these markets as investments pick up momentum. Supporting the industrials market segment, global investments in aerospace & defense may act as a secondary catalyst to drive strong top-line growth over the coming years, driven by space technology and autonomous production. With a robust outlook for eq2’26 and the expectation for continued strength throughout the remainder of the fiscal year, I am reiterating my Buy rating for ADI shares with a price target of $529/share at 20.67x eFY28 EV/aEBITDA. ADI reports q2’26 earnings on May 20, 2026, in the pre-market. Analog Devices Operational Outlook Corporate Filings ADI is targeting multiple megatrends across energy, autonomy, AI, and health care, that should provide the organization with significant growth tailwinds over the coming years as the market continues to gain momentum. Underpinning growth across the industrial markets, which includes data center development and power infrastructure, ADI should be in a position of strength over the coming half-a-decade+ as $6.7t is expected to be invested in developing data center infrastructure , which may include investments in both grid power generation as well as behind-the-meter power production. US utilities are expected to invest $1.4t over the next 5 years to bolster grid operations . What’s most appealing about this setup is that large-scale data centers will require a significant amount of power infrastructure on the distribution side to manage a constant load capacity, which will include onsite switchgear, converters, battery storage systems, and interconnects. With behind-the-meter generation being a cr...
As the US gears up for a major anniversary, a new expansive exhibition looks at history in a range of objects, from an 18th-century gunboat to a Maga hat To paraphrase the musical Rent, 131,487,300 minutes – how do you measure, measure 250 years? Especially in a country navigating an election year fraught with divisions and disagreements over basic facts? That is the challenge facing the Smithsoni...
As the US gears up for a major anniversary, a new expansive exhibition looks at history in a range of objects, from an 18th-century gunboat to a Maga hat To paraphrase the musical Rent, 131,487,300 minutes – how do you measure, measure 250 years? Especially in a country navigating an election year fraught with divisions and disagreements over basic facts? That is the challenge facing the Smithsonian National Museum of American History in Washington DC as it marks the semiquincentennial of US independence. Continue reading...
In early trading on Wednesday, shares of Marvell Technology topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.1%. Year to date, Marvell Technology registers a 107.4% gain. And the worst performing Nasdaq 100 component thus far on the
In early trading on Wednesday, shares of Marvell Technology topped the list of the day's best performing components of the Nasdaq 100 index, trading up 7.1%. Year to date, Marvell Technology registers a 107.4% gain. And the worst performing Nasdaq 100 component thus far on the
At Holdings Channel, we have reviewed the latest batch of the 56 most recent 13F filings for the 03/31/2026 reporting period, and noticed that Linde PLC (Symbol: LIN) was held by 26 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea t
At Holdings Channel, we have reviewed the latest batch of the 56 most recent 13F filings for the 03/31/2026 reporting period, and noticed that Linde PLC (Symbol: LIN) was held by 26 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea t
exopixel/iStock via Getty Images Can Arbor Realty Trust ( ABR ) recover? I covered this REIT back in November and rated it Hold. We just got a Q1 update . The problem? It's still up in the air. That's why they cut the dividend. A lot of loans still need to be resolved. Balance Sheet (Q3 2025 Form 10Q) Last time, I talked about problems with book value. ABR was at a discount. I thought the discount...
exopixel/iStock via Getty Images Can Arbor Realty Trust ( ABR ) recover? I covered this REIT back in November and rated it Hold. We just got a Q1 update . The problem? It's still up in the air. That's why they cut the dividend. A lot of loans still need to be resolved. Balance Sheet (Q3 2025 Form 10Q) Last time, I talked about problems with book value. ABR was at a discount. I thought the discount might not be real. Why? Too many multifamily loans were troubled. REO was growing. Book value could easily shrink. Management said it would take multiple quarters to work through it all. Right now, book value is $11.63 per share. Today's discount is even bigger. But I think there's a reason for that. We see it in the recent Form 10Q . Assets (Q1 2026 Form 10Q) Not a lot of MF loans were resolved. REO was up too. Most of the troubled 2021 vintage remains. I kind of expected that. 2024 and even 2025 vintages got worse, though. That surprised me. At year-end, they were mostly "Pass" or "Pass/Watch." A good chunk declined into "Special Mention." Only single-family rentals are performing well. They're a minority of the book, though. They can't resolve MF loans and REOs fast enough. This means it's hard to write more SFRs. It's a tight spot for Arbor. REO Guidance (Q1 2026 Earnings Presentation) I think it depends on where they are late in the year. Right now they think they can get REO down. They said a range of $250M to $300M by end of 2026. That's a lot of REO to have still. It shows how much things changed. A couple years ago, they thought that was the worst of it. Investor Relations Dividend Page The dividend has also been cut again. It was $0.30 after already being cut. Now it's $0.17. This makes the forward yield 10%. But you know what? I don't think the yield means much right now. ABR's cash flow is constantly in question. It's now a game of the value of its assets. There are many troubled loans. Not doomed, but troubled. Same goes for the REO. These things have a report...
Yahoo Finance Senior Business Reporter Ines Ferré and Northwestern Mutual Wealth Management Company CIO Brent Schutte join Brian Sozzi on Opening Bid to discuss today’s Stock of the Day: Micron (MU).
Yahoo Finance Senior Business Reporter Ines Ferré and Northwestern Mutual Wealth Management Company CIO Brent Schutte join Brian Sozzi on Opening Bid to discuss today’s Stock of the Day: Micron (MU).
In early trading on Wednesday, shares of ON Semiconductor topped the list of the day's best performing components of the S&P 500 index, trading up 9.0%. Year to date, ON Semiconductor registers a 109.5% gain. And the worst performing S&P 500 component thus far on the d
In early trading on Wednesday, shares of ON Semiconductor topped the list of the day's best performing components of the S&P 500 index, trading up 9.0%. Year to date, ON Semiconductor registers a 109.5% gain. And the worst performing S&P 500 component thus far on the d