Key PointsThe Michigan Consumer Sentiment Index fell to 48.2 in May, the lowest reading in history, as consumers worried over high gas prices and tariffs.
Key PointsThe Michigan Consumer Sentiment Index fell to 48.2 in May, the lowest reading in history, as consumers worried over high gas prices and tariffs.
Chinese President Xi Jinping opposes efforts to charge a toll to navigate the Strait of Hormuz and is interested in purchasing more US oil to reduce its dependence on the waterway in the future, according to a White House official. Xi made the comments during his meeting with US President Donald Trump in Beijing on Thursday, according to the official. China’s official readout of the meeting didn’t...
Chinese President Xi Jinping opposes efforts to charge a toll to navigate the Strait of Hormuz and is interested in purchasing more US oil to reduce its dependence on the waterway in the future, according to a White House official. Xi made the comments during his meeting with US President Donald Trump in Beijing on Thursday, according to the official. China’s official readout of the meeting didn’t include energy in the list of topics the two presidents discussed, although it did say they talked about the Middle East. China is the world’s largest importer of crude oil and natural gas, and the US is the biggest producer of both. But shipments between the two countries ground to a halt last year after China imposed levies on the commodities in retaliation to Trump’s sweeping tariffs on Chinese goods. Global oil and gas supplies have come under severe pressure this year after Iran effectively shut Hormuz in response to US and Israeli air strikes, and threatened to charge ships for passage. The closure of the strait has disrupted roughly a fifth of the world’s oil and liquefied natural gas exports, driving prices higher. The US has since started its own blockade to prevent ships from exiting the Persian Gulf. Chinese oil supertanker Yuan Hua Hu appeared to pass through the blockade safely on Thursday. Both Xi and Trump agreed the strait must remain open to support the free flow of energy, according to the US official.
Luis Alvarez/DigitalVision via Getty Images The share price of Uber ( UBER ) hasn't moved much since I broke down my complete thesis in January, but the story and fundamentals certainly have. I am reiterating my Strong Buy on Uber with a 1-year price target of $150, driven by the company's continued accelerating growth and its aggressive push into robotaxis. Robotaxis are no longer just a concept—...
Luis Alvarez/DigitalVision via Getty Images The share price of Uber ( UBER ) hasn't moved much since I broke down my complete thesis in January, but the story and fundamentals certainly have. I am reiterating my Strong Buy on Uber with a 1-year price target of $150, driven by the company's continued accelerating growth and its aggressive push into robotaxis. Robotaxis are no longer just a concept—they are a real product completing millions of rides across the globe—and I believe Uber remains best positioned to capture the lion's share of the AV market as it scales. The stock is currently down 25% from its all-time highs, weighed down by the narrative that Waymo or Tesla will rapidly displace it. This bearish sentiment is causing a massive disconnect between the stock price and the underlying fundamentals. Despite posting $53.7 billion in gross bookings in Q1 2026 (up 25% YoY, marking the third consecutive quarter above 21% constant-currency growth) and issuing strong Q2 guidance of up to $57.75 billion, the valuation has consistently sunk to record lows. As the market fully realizes Uber's geographic and delivery floor, its robotaxi edge, and its future as a true superapp, I expect the share price to aggressively re-rate. Asymmetric Upside Uber has evolved to be far more than a rideshare service in a few major US cities; it is a much safer and more diversified company than the market realizes, considering its delivery, suburban, and global presence. Delivery The Delivery segment generated a record $961 million of operating income in Q1 2026 , up 43% YoY, representing a massive chunk of overall profits. Uber Eats continues its dominance globally, with Delivery Gross Bookings accelerating to 28% YoY growth ($26 billion). It is still young in its expansion into suburbs, G&R, and new geographies. Grocery and Retail (G&R) has over a $12 billion gross bookings run rate and is growing 50%+. A new feature announced at their Go-Get event even delivers from places not on the ...
Gregory Rodriguez/iStock Editorial via Getty Images Shares of FMC Corporation ( FMC ) have been an awful investment, with shares down 90% from the post-pandemic highs, now trading at levels first and last seen in the mid-2000s. In the summer of 2024, I believed that FMC offered fertile, yet risky, grounds, as the latter has been the dominant theme here. Shares had lost half their value to levels i...
Gregory Rodriguez/iStock Editorial via Getty Images Shares of FMC Corporation ( FMC ) have been an awful investment, with shares down 90% from the post-pandemic highs, now trading at levels first and last seen in the mid-2000s. In the summer of 2024, I believed that FMC offered fertile, yet risky, grounds, as the latter has been the dominant theme here. Shares had lost half their value to levels in the $50s at that time, attributed to customer de-stocking, patent issues, and leverage. An appeal could be found if execution returned, yet at the same time I ended up concluding that management did not have credibility on its side. As the company has seen its stock fall further and recently announced a smaller divestment, this provides enough reason to provide an update here. Coverage of other interesting M&A moves and better investment opportunities can be found at Value in Corporate Events . Selling Out of India Early in May, FMC reached a deal to sell FMC India Private Limited in a $252 million deal, following its announcement in July of last year to sell this asset. The sale is seen closing by year-end, with proceeds being earmarked for debt reduction, as otherwise few financial details have been reported on the sale. Shares fell about a dollar, equal to $125 million in dollar terms on the day of the announcement, as investors clearly believe that proceeds come in ways short compared to expectations. Some further commentary on the activities was given when it released its 2025 results. Activities in India contributed $422 million in annual sales. This reveals that the activities are sold far below 1x sales; in fact, they are sold at just 0.6x revenues. About the Fundamental Performance In February, FMC reported an 18% decline in full-year sales to $3.47 billion, mostly driven by the Indian sales being classified as continued operations; as adjusted for the pending divestment, organic sales declines were seen around 8%. On the bottom line, net losses were reported at ...
Vertigo3d/E+ via Getty Images VanEck Onchain Economy ETF ( NODE ) returned +24.8% in April 2026, the strongest month since launch, as AI compute and energy transition names drove broad-based outperformance. VanEck Bitcoin ETF (“ HODL ,” or the “Trust”): An investment in HODL is subject to significant risk and may not be suitable for all investors. The value of Bitcoin is highly volatile, and you c...
Vertigo3d/E+ via Getty Images VanEck Onchain Economy ETF ( NODE ) returned +24.8% in April 2026, the strongest month since launch, as AI compute and energy transition names drove broad-based outperformance. VanEck Bitcoin ETF (“ HODL ,” or the “Trust”): An investment in HODL is subject to significant risk and may not be suitable for all investors. The value of Bitcoin is highly volatile, and you can lose your entire principal investment. HODL is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act. HODL : Prospectus VanEck Onchain Economy ETF: The Fund invests in Digital Transformation Companies and/or Digital Asset Instruments, not directly in digital assets or commodities. Investing involves substantial risk and high volatility including loss of your entire principal. Shares are not bank deposits and not FDIC insured. Monthly Standardized Performance (4/30/2026) Performance YTD 1 YR 3 YR 5 YR 10 YR LIFE (5/13/25) NODE (NAV) 16.28 -- -- -- -- 52.24 NODE (Market Price) 16.19 -- -- -- -- 52.61 MVIS Global Digital Assets Equity Index 13.75 -- -- -- -- 46.50 Click to enlarge Performance YTD 1 YR 3 YR 5 YR 10 YR LIFE † HODL (NAV) -12.48 -18.71 -- -- -- 26.61 HODL (Price) -12.66 -18.89 -- -- -- 24.79 MarketVector Bitcoin Benchmark Rate (Index) -12.48 -18.71 37.50 6.04 66.88 26.63 Click to enlarge Source: Morningstar as of 4/30/26. Returns less than one year are not annualized. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. † Share price is calculated from January 11, 2024, which corresponds to the date the Shares commenced public trading. Net asset value returns are calculated from January 4, 2024, which is the inception date of the Trust. Click to enlarge Quarterly Standardized Performance (3/31/2026) Performance YTD 1 YR 3 YR 5 YR 10 YR LI...
Eli Lilly (NYSE: LLY) has become the leader in a market marching toward the $100 billion mark. I'm talking about the weight-loss drug market, expected to reach that level early next decade from a value of about $40 billion today. This is thanks to a type of product you might have heard about in recent times: the GLP-1 drug. Lilly is the maker of tirzepatide, sold as Mounjaro for type 2 diabetes an...
Eli Lilly (NYSE: LLY) has become the leader in a market marching toward the $100 billion mark. I'm talking about the weight-loss drug market, expected to reach that level early next decade from a value of about $40 billion today. This is thanks to a type of product you might have heard about in recent times: the GLP-1 drug. Lilly is the maker of tirzepatide, sold as Mounjaro for type 2 diabetes and as Zepbound for weight loss -- though both have been prescribed for the weight loss indication. Doctors and patients love this class of drugs as the products have proven themselves to be safe, effective, and easy to self-administer. All of this has resulted in high demand and enormous revenue growth for Lilly. But this company isn't alone in the space. It faces Novo Nordisk , which recently launched an exciting new product, as well as up-and-coming players that are pushing candidates through clinical trials -- from pharma giant Pfizer to biotech company Viking Therapeutics . And now, more competition may come from somewhere much closer. Should Lilly investors worry about its newest rival -- from within? Continue reading
President Donald Trump caused quite a stir last month when he floated a 2027 defense budget of $1.5 trillion. That's almost double the $892.6 billion he asked for last year. If he gets the full amount from Congress, it would be the largest year-over-year increase in defense spending since World War II. Whatever you think of that amount, the U.S. isn't the only country looking to bolster its defens...
President Donald Trump caused quite a stir last month when he floated a 2027 defense budget of $1.5 trillion. That's almost double the $892.6 billion he asked for last year. If he gets the full amount from Congress, it would be the largest year-over-year increase in defense spending since World War II. Whatever you think of that amount, the U.S. isn't the only country looking to bolster its defense spending in light of the chaos ramping up around the world. Continue reading
Cisco stock could be a big artificial intelligence winner. Cisco said it has taken $5.3 billion of artificial-intelligence infrastructure orders from hyperscalers so far this fiscal year and raised its full-year expectations to orders of $9 billion, up from $5 billion. “Massive déjà vu here from 1990s—but it actually could be just beginning for Cisco as their investments in silicon and optics pay ...
Cisco stock could be a big artificial intelligence winner. Cisco said it has taken $5.3 billion of artificial-intelligence infrastructure orders from hyperscalers so far this fiscal year and raised its full-year expectations to orders of $9 billion, up from $5 billion. “Massive déjà vu here from 1990s—but it actually could be just beginning for Cisco as their investments in silicon and optics pay off,” Melius Research analyst Ben Reitzes wrote in a note late Wednesday.
Chime Financial delivered its first profitable quarter as revenue growth, margin expansion, and loan growth strengthened the fintech’s future prospects.
Chime Financial delivered its first profitable quarter as revenue growth, margin expansion, and loan growth strengthened the fintech’s future prospects.