Con Edison Power Plant in Manhattan, NYC olli0815/iStock Editorial via Getty Images Consolidated Edison, Inc. ( ED ) currently trades at a price-to-book of ~1.64x with a return on common equity of ~8.5% . ED is a utility player, where the rates and thereby returns on capital are fixed by the regulators. Therefore, the important measure of value for these entities remains their capitalized earnings...
Con Edison Power Plant in Manhattan, NYC olli0815/iStock Editorial via Getty Images Consolidated Edison, Inc. ( ED ) currently trades at a price-to-book of ~1.64x with a return on common equity of ~8.5% . ED is a utility player, where the rates and thereby returns on capital are fixed by the regulators. Therefore, the important measure of value for these entities remains their capitalized earnings power value. The current Price to Earnings for the company is 19.48. The above metrics at present are not on the lower end either historically or relative to average. Data by YCharts The above metrics present a fairly decent picture of the company’s market multiples, neither too high nor reflective of any mispricing or pessimism for the time being. Over the last ten years, the company has grown per share book value from $44.55 to $66.99 as of FY25, which approximates to about 4.16% annualized CAGR. The price return CAGR also approximates to ~4% over the last ten years, with total return CAGR being ~7.5%. The difference is attributable to the dividends paid by the company. In addition, the current dividend yield stands at ~3.2%. Book Value growth rate equates price returns ( YCharts ) The debt-to equity at present for the company is around 1.06x . Kindly note that, being in a regulated utility, the capital structure is also largely determined by the regulatory frameworks. The EBIT of $3.8 billion provides an interest coverage ratio that roughly comes to 3x. Earning Snap (Company 10k) The company did a total capex of around $4764 million ( cash flow - 10k ) for FY25. The company largely uses retained earnings, in addition to incremental borrowings and occasional equity issuance, to fund the capex. In addition, the estimated total capital expenditures are $6,595 million for 2026, increasing annually to $8,588 million by 2030. This demonstrates a significant increase in capital investments over the next several years. The FY25 actual capex is notably lower than the planned ann...
(RTTNews) - The UK stock market opened on a weak note Thursday morning and continued to struggle for support with investors staying cautious amid uncertainty about the status of U.S.-Iran peace talks.
(RTTNews) - The UK stock market opened on a weak note Thursday morning and continued to struggle for support with investors staying cautious amid uncertainty about the status of U.S.-Iran peace talks.
ratpack223/iStock via Getty Images Introduction As a U.S.-based investor, every day it seems like there's more uncertainty surrounding the economy. As a result, the FED recently left rates unchanged to no one's surprise. I was personally looking for a potential cut sometime in the back half of the year with the new chair coming on in May. But now, a rate cut seems to move farther and farther away ...
ratpack223/iStock via Getty Images Introduction As a U.S.-based investor, every day it seems like there's more uncertainty surrounding the economy. As a result, the FED recently left rates unchanged to no one's surprise. I was personally looking for a potential cut sometime in the back half of the year with the new chair coming on in May. But now, a rate cut seems to move farther and farther away as the war with Iran rages on. Moreover, the market seems to now be pricing in fears of a possible recession. While the war doesn't guarantee we'll see one, I do believe the longer it goes on, the likelihood of one increases. And with the recent attack from Iran sending oil & gas prices higher, the market continues to sell off, with the S&P ( SP500 ) down close to 2% at the time of writing. Other commodities like gold ( GLD ) and Bitcoin ( BTC-USD ) are also down, while crude oil is up close to 4%. While continued market volatility is likely with investors turning to cash, some of us are staying put. I'm a believer in dollar-cost averaging into positions that I have high conviction in instead of trying to time the market. In this article, I discuss one particular sector I like, one to avoid, and what other places to look to help investors navigate a potential recession. Why I Believe We Will See A Recession Soon I know some will read this and say, Oh my god, we've been hearing about a potential recession for years now. While we have, I think the chances are much more likely now. Earlier this month, CNBC reported that recession odds jumped from around 22% to 35% due to oil going above $100 a barrel. And after closing up more than 16% in 2025, the S&P's performance so far this year has been disappointing. Currently, the index is down over 3%, and I think underperformance is likely to continue for at least the near term. This seems mainly due to the war with Iran. Iran has mentioned that it has no plans of slowing down or declaring peace. While no one knows if Israel, Iran, an...
Robert Way/iStock Editorial via Getty Images Article Thesis PDD Holdings Inc. ( PDD ) reported its most recent earnings results on Wednesday. The company missed the consensus estimate on both lines, but I think that the valuation is so undemanding that this is forgivable. Business growth remains very solid, but there are some profitability issues -- all in all, PDD looks like a solid but not great...
Robert Way/iStock Editorial via Getty Images Article Thesis PDD Holdings Inc. ( PDD ) reported its most recent earnings results on Wednesday. The company missed the consensus estimate on both lines, but I think that the valuation is so undemanding that this is forgivable. Business growth remains very solid, but there are some profitability issues -- all in all, PDD looks like a solid but not great investment at current prices. Past Coverage I have written about PDD Holdings here on Seeking Alpha in the past, most recently in August 2025 . I gave the company a neutral rating back then -- since that article was published, PDD's shares have pulled back while the market has been more or less flat since then. With PDD reporting its most recent earnings results on Wednesday, I want to update my views on the company today. What Happened? On Wednesday morning, PDD Holdings released the following quarterly earnings results : PDD Holdings earnings results (Seeking Alpha) We see that the company missed the Wall Street consensus on both lines -- naturally, that's a bad surprise. Looking at the company's past track record versus analysts' estimates, we see that this wasn't the first time, though -- PDD also delivered a double miss during the previous quarter, as well as during a couple of other quarters over the last two years. PDD thus is not a company where investors got used to expecting earnings beats -- its earnings history has been checkered for a while. I think that's why the market didn't react badly to the double miss, as many investors were already assuming that PDD could deliver another earnings miss again. Following the earnings release, shares rose by a couple of percentage points -- investors didn't mind the miss versus estimates too much. Let's delve into the results. PDD's Fourth Quarter Revenues missed estimates by around 2%, but they still grew nicely -- sales were up by 12% compared to one year earlier. That's a little less compared to some of PDD's e-commerce...
Western Intel Says Russia Preparing Kamikaze Drone Shipment To Iran A senior Western official told Financial Times reporters that new intelligence indicates Moscow is preparing to ship a batch of kamikaze drones to Iran as part of a broader support package, with the US-Iran conflict nearing the one-month mark. When asked about the drone shipment, Kremlin spokesperson Dmitry Peskov told FT reporter...
Western Intel Says Russia Preparing Kamikaze Drone Shipment To Iran A senior Western official told Financial Times reporters that new intelligence indicates Moscow is preparing to ship a batch of kamikaze drones to Iran as part of a broader support package, with the US-Iran conflict nearing the one-month mark. When asked about the drone shipment, Kremlin spokesperson Dmitry Peskov told FT reporters, "There are a lot of fakes going around right now. One thing is true: we are continuing our dialogue with the Iranian leadership." One thing is certain : Iranian forces have launched what reports estimate to be as many as 3,000 drones at US air bases, energy infrastructure, tankers, and neighboring Gulf states that coordinate with US and allied forces. FT's report suggests that Iran may need additional drone supplies after an overnight update from Operation Epic Fury, US Central Command Chief Admiral Brad Cooper said Wednesday that US forces had struck their 10,000th target. " Together, we have struck thousands more, clearly demonstrating that we're stronger together ," Cooper said. Cooper said US forces have severely degraded Iran's missile capabilities and heavily bombarded its missile, drone , and naval production sites. He added that Iran's drone and missile launch rates have collapsed by 90% , and that two-thirds of its military-industrial base has been destroyed or heavily damaged . Another Western security official told FT that the type of Russian drones in this month's upcoming shipment has yet to be determined. The official said Moscow would likely deliver Geran-2 drones , which are basically copycats of the Iranian-designed Shahed-136. Geran-2 drones Antonio Giustozzi, a senior research fellow at the Royal United Services Institute, said of the Iranians, "They don't need more drones. They need better drones. They are after the more advanced capabilities." Nicole Grajewski, a professor at Sciences Po University in Paris who focuses on Russia and Iran, noted, " Th...
One of the most important pieces of Social Security is the annual cost-of-living adjustment (COLA). The COLA is designed to ensure retirees' monthly payments keep pace with inflation. That said, many retirees feel the last few years of COLAs haven't been sufficient. After a 3.2% increase in 2024 and a 2.5% increase in 2026, retirees received a 2.8% bump to their benefits in January. At the time of...
One of the most important pieces of Social Security is the annual cost-of-living adjustment (COLA). The COLA is designed to ensure retirees' monthly payments keep pace with inflation. That said, many retirees feel the last few years of COLAs haven't been sufficient. After a 3.2% increase in 2024 and a 2.5% increase in 2026, retirees received a 2.8% bump to their benefits in January. At the time of the announcement, over half of retirees said that wasn't enough to keep up with rising costs. So far in 2026, however, that 2.8% raise in benefits has outpaced the most commonly used measure of inflation. Unfortunately, that trend might not last much longer. Here's why -- and what it means for retirees. Continue reading
asbe/iStock via Getty Images Wall Street's securities industry saw its 2025 bonus pool jump 9% from the prior year to a record $49.2B, according to the New York State Comptroller Thomas P. DiNapoli's annual estimate. DiNapoli's office releases an annual estimate of bonuses paid during the traditional December through March bonus season to securities industry employees who work in New York City. Th...
asbe/iStock via Getty Images Wall Street's securities industry saw its 2025 bonus pool jump 9% from the prior year to a record $49.2B, according to the New York State Comptroller Thomas P. DiNapoli's annual estimate. DiNapoli's office releases an annual estimate of bonuses paid during the traditional December through March bonus season to securities industry employees who work in New York City. The State Comptroller's 2025 estimate is based on personal income tax withholding trends and includes cash bonuses paid for work performed in 2025 and bonuses deferred from prior years that have been cashed in. The estimate does not include stock options or other forms of deferred compensation for which taxes have not been withheld. Average bonus was up 6% year-over-year to $246,900, according to the preliminary data. The industry saw a rise of over 30% in profit to $65.1B in 2025, driven by strong trading activity, underwriting, and fees charged to manage client accounts. "When Wall Street does well, it's good for our state and city budgets, which are reliant on the industry's significant tax contributions. However, we are seeing slower job growth, and geopolitical conflicts have global repercussions that pose extraordinary risks for the short- and long-term outlook on the financial sector and for broader economic markets," said DiNapoli. Adjusted for inflation, the bonus pool had peaked in 2006 at $53.7B. DiNapoli estimates that the 2025 bonuses should generate $199M more in state income tax revenue and $91M more for the city when compared to 2024. However, tax revenue from the current fiscal year bonuses may fall short of expectations, the estimate showed. The estimate showed that the securities industry employment fell modestly to 198,200 in 2025 from a 30-year high of 201,500 in 2024. However, employment is expected to be revised upward when annual data adjustments are made. Developing... Check back for updates. More on Wall Street bonuses Deutsche Bank boosts bonus pool...
JD.com (JD) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
JD.com (JD) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
JD.com (JD) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
JD.com (JD) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
Listen to an album each morning, pick an easy instrument, don’t be afraid to write bad songs … you’ve got this! There are many benefits to making music, whether you are one or 100. But how should you approach choosing an instrument to play? And what are the best choices for a complete novice? We asked musicians for advice on how to live a more musical life, at any age. Continue reading...
Listen to an album each morning, pick an easy instrument, don’t be afraid to write bad songs … you’ve got this! There are many benefits to making music, whether you are one or 100. But how should you approach choosing an instrument to play? And what are the best choices for a complete novice? We asked musicians for advice on how to live a more musical life, at any age. Continue reading...
peterschreiber.media Novocure ( NVCR ) announced on Thursday that its cancer treatment device, Tumor Treating Fields (TTFields), reached the primary endpoint in its Phase 2 PANOVA-4 trial for patients with a certain form of pancreatic cancer. Based on topline data from PANOVA-4, the Swiss MedTech said that TTFields, as part of a combination regimen, improved disease control rate (DCR) with a stati...
peterschreiber.media Novocure ( NVCR ) announced on Thursday that its cancer treatment device, Tumor Treating Fields (TTFields), reached the primary endpoint in its Phase 2 PANOVA-4 trial for patients with a certain form of pancreatic cancer. Based on topline data from PANOVA-4, the Swiss MedTech said that TTFields, as part of a combination regimen, improved disease control rate (DCR) with a statistically significant effect compared to DCR reported in its Phase 3 MPACT study, which was used as a historical control. PANOVA-4 was designed to evaluate TTFields plus Roche’s ( RHHBY ) anti-PD-L1 antibody therapy, Tecentriq, and the chemotherapy regimen gem/nab-pac as a first-line therapy for metastatic pancreatic ductal adenocarcinoma. Detailed results indicate that patients on TTFields plus Tecentriq and gem/nab-pac showed 74.4% DCR in PANOVA-4 compared to 48% DCR in those who received only gem/nab-pac in MPACT. Regarding secondary endpoints, the objective response rate in patients in the TTFields arm was 34.6%, and their median overall survival was 9.7 months. The company added that TTFields treatment was well-tolerated, with device-related safety issues comparable to previous studies. Novocure ( NVCR ) stated that it will present additional data from the study at a future medical event. The company markets TTFields, which is approved in the U.S. for certain lung cancers, in partnership with the Chinese biotech Zai Lab ( ZLAB ) in several regions across Asia, including China. More on NovoCure NovoCure Limited 2025 Q4 - Results - Earnings Call Presentation NovoCure Limited (NVCR) Q4 2025 Earnings Call Transcript NovoCure: FDA Approval For PC Unlocked With TTFields Expansion Opportunity Approaching NovoCure outlines $675M–$705M 2026 revenue target as new indications fuel growth NovoCure Q4 2025 Earnings Preview
Kamada ( KMDA ), a biopharmaceutical company, announced that the FDA has approved its Kamada Plasma collection center in San Antonio, TX, following a February 2026 on-site inspection. The San Antonio center can support 50 donor beds and, at full capacity, produce up to 50K liters annually. It also plans to pursue EMA inspection and approval of its San Antonio facility following FDA clearance. The ...
Kamada ( KMDA ), a biopharmaceutical company, announced that the FDA has approved its Kamada Plasma collection center in San Antonio, TX, following a February 2026 on-site inspection. The San Antonio center can support 50 donor beds and, at full capacity, produce up to 50K liters annually. It also plans to pursue EMA inspection and approval of its San Antonio facility following FDA clearance. The center could make $8–$10M in annual revenues from normal source plasma at full capacity. More on Kamada Kamada's Pipeline And Biosimilars Set Stage For Future Earnings Expansion Kamada Ltd. (KMDA) Q4 2025 Earnings Call Transcript Kamada 2025/2026 Outlook: Evaluating Revenue Growth And Product Drivers Kamada forecasts double-digit profitable growth in 2026 Seeking Alpha’s Quant Rating on Kamada
Gap stock rebounds after earnings drop, helped by AI news, though shares remain volatile as Wall Street continues to assess the company’s turnaround progress.
Gap stock rebounds after earnings drop, helped by AI news, though shares remain volatile as Wall Street continues to assess the company’s turnaround progress.
halbergman/iStock via Getty Images Boyd Gaming ( BYD ) opened its first new casino in the Las Vegas area in more than 20 years when the Cadence Crossing property opened in Henderson on March 25. The project is a smaller, locals-oriented casino near the Cadence master-planned community on Boulder Highway. The casino operator has positioned it as part of its long-term growth strategy in Southern Nev...
halbergman/iStock via Getty Images Boyd Gaming ( BYD ) opened its first new casino in the Las Vegas area in more than 20 years when the Cadence Crossing property opened in Henderson on March 25. The project is a smaller, locals-oriented casino near the Cadence master-planned community on Boulder Highway. The casino operator has positioned it as part of its long-term growth strategy in Southern Nevada. Before Cadence Crossing, the last casino Boyd ( BYD ) operated in Las Vegas was Joker’s Wild, the longtime Henderson property that Cadence Crossing replaces. Joker's Wild had been one of Boyd’s familiar local casinos in the valley for years, serving the local market rather than tourists. Its replacement with a new, modern property reflects Boyd's ( BYD ) strategy of refreshing its local-market presence instead of building a large new resort. "With strong residential growth continuing throughout the neighborhood, we believe Cadence Crossing Casino will be well positioned to deliver a strong return on our investment. And with significant land still available at Cadence Crossing for future development, we will have the opportunity to expand this property to meet the growing demand," stated CEO Keith Smith on the company's earnings conference call. Boyd Gaming ( BYD ) operates 10 casino properties in the Las Vegas region, including Aliante, The Orleans, Gold Coast, Suncoast, Sam’s Town, Cannery, California, Fremont, Main Street Station, and Cadence Crossing. Shares of Boyd Gaming ( BYD ) are relatively flat for 2026 but stand more than 20% higher than where they stood a year ago. More on Boyd Gaming Boyd Gaming: 2026 Is The Investment Year Boyd Gaming Corporation (BYD) Q4 2025 Earnings Call Transcript Boyd Gaming: 6 Straight Double Beats And Still Room To Run (Earnings Preview) Casino swap: Boyd Gaming sells Shreveport property to Bally's Boyd Gaming outlines $650M–$700M capital plan for 2026 amid continued core customer growth and major property investments