Suphanat Khumsap/iStock via Getty Images New Fortress Energy ( NFE ) secured permission from a U.K. court Thursday to arrange creditor votes on a sweeping restructuring that will see the vast majority of the company's debt load converted into equity, shifting ownership of the business to its lenders, Bloomberg reported. A London High Court judge allowed New Fortress Energy's ( NFE ) creditors, who are owed $6.5B, to convene meetings to vote on two interlinked restructuring plans; if approved, the proposals would extinguish ~90% of the company's total debt. Under the plan, creditors would receive new equity in exchange, along with $971M of new debt instruments, Bloomberg reported; the group would be split into one entity housing New Fortress Energy's ( NFE ) assets and operations in Brazil, and another comprised of everything outside the country. Existing shareholders would retain a 35% stake in the remaining group, known as CoreCo, under the plan that has already gained the support of 97% of interested creditors. The sanction hearing, where the court will consider whether to approve the restructuring plan, is scheduled for June 18. More on New Fortress Energy New Fortress Energy: Existing Shareholders Draw Short Straw Under U.K. Restructuring Plan New Fortress Energy: Restructuring Leaves Limited Option Value For Common Shares New Fortress Energy Discusses Debt for Equity Exchange and Consensual Restructuring Plan - Slideshow

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Nvidia Corp. shares rose on Thursday, extending a 20% rally over the past seven days as investors plow into the chipmakers profiting from a flood of investment spending on artificial intelligence. The stock rose as much as 4.7% to $236.47. The advance added more than $900 billion to its market capitalization and pushed it toward $6 trillion, a valuation no company has ever reached. The advance is the latest reflection of how intensely investors are gravitating toward perceived AI winners, with semiconductors at the epicenter of it. Nvidia has also drawn attention this week after Chief Executive Officer Jensen Huang joined President Donald Trump on his visit to China as a last-minute addition. The Philadelphia Stock Exchange Semiconductor Index has soared nearly 70% since the end of March, while companies like Intel Corp. , Micron Technology Inc. , Advanced Micro Devices Inc. , and Broadcom Inc. have all seen sizable gains. The scale of the rally has increased concerns in some quarters that the stock market is being elevated by an AI bubble that could burst. Nvidia and Micron alone, for example, have accounted for more than 30% of the gain in the S&P 500 Index this year, according to data compiled by Bloomberg. Thursday also saw an initial public offering from AI chipmaker Cerebras Systems Inc. , the largest this year. The demand was massive , with shares jumping as much as 109% after their debut.

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Quantum computing is an emerging field promising to solve problems so complex that even the world's most powerful supercomputers would need longer than the age of the universe to crack them. Rigetti Computing (NASDAQ: RGTI) sits at the center of this exciting narrative. For a brief window, investors treated the company like the next great artificial intelligence (AI) play. But shortly after the stock became a phenomenon, reality arrived. With shares now down 66% from all-time highs, here is what smart investors should understand before touching Rigetti stock . Image source: Getty Images. Continue reading

PSMT Jonathan Kitchen/DigitalVision via Getty Images The Current Setup PriceSmart, Inc. ( PSMT ), for those unfamiliar, is a warehouse club retailer operating in Central America and the Caribbean, with corporate headquarters in San Diego, CA. The company has a successful 30-year track record, having grown from its initial location in Panama to 56 locations today. This research piece acknowledges PSMT’s long-term track record while pointing to some nearer-term valuation and execution risk concerns embedded in the current stock price. The stock’s recently reported results appear to have benefitted, at least in part, from some unanticipated FX tailwinds. Longer-term consensus views imply a material increase in unit economics for the business. Execution risks against these objectives pose a concern at these valuation levels. Current valuation levels are stretched on an absolute basis, against PSMT’s own historical levels, and relative to the S&P 500. Trading near $158 at the time of this writing, shares of PSMT are up roughly 30% year to date in 2026, against the S&P 500 YTD return of ~9%. While the recent quarter’s results have been slightly better than expectations, we would call into question the outsized run in the stock, given the following concerns. Seeking Alpha At this level, PSMT trades at 29 times the Wall St. consensus EPS estimate of $5.45 per share for the upcoming fiscal year ending August 2026. That estimate represents growth of 13% vs. FY 2025. Contrast that with the broader S&P 500 index, where EPS is projected to grow ~15% for 2026 and valued at about 21 times that estimate. To add more context to the extent of PSMT’s stretched valuation here, the table below shows the company’s valuation over recent years as a function of actual warehouse clubs (operating as of the end of periods shown). SEC filings and TIKR As the data shows, coming out of the most recently reported quarter (ended Feb 2026), PSMT shares were valued almost 70% higher than the long-ter...

格隆汇5月15日｜伊朗议会内部事务委员会成员纳哈伊：在最高领袖穆杰塔巴·哈梅内伊的深谋远虑和命令下，我们的武装部队将对特朗普的空洞言辞，对美国及其任何帮凶作出沉重而适当的回应。

hernan4429/iStock via Getty Images U.S. Treasury Secretary Scott Bessent said Thursday that China will be working "behind the scenes" to help reopen the Strait of Hormuz to shipping. “It’s very much in their interest to get the strait reopened,” Bessent told CNBC in an interview. “I think they will be working behind the scenes to the extent anyone has any say over the Iranian leadership.” CNBC noted that China imports over half of its oil from the Middle East, including around 10% from Iran. Bessent told CNBC that China accounts for nearly all of Iran's crude oil exports. “China has a much bigger interest in reopening the strait than the U.S. does,” Bessent added. U.S. President Donald Trump and Chinese President Xi Jinping are currently engaged in a two-day summit in Beijing to discuss a wide range of economic and geopolitical issues. Earlier Thursday, a White House official said that both men have agreed the strait needs to be reopened. “The two sides agreed that the Strait of Hormuz must remain open to support the free flow of energy,” the White House official said, according to CNBC. “President Xi also made clear China’s opposition to the militarization of the Strait and any effort to charge a toll for its use.” More on SPDR S&P 500 ETF Trust, State Street® Energy Select Sector SPDR® ETF 6 Key Numbers Highlighting Continued Credit Deterioration Student Loan Defaults Surge As Treasury Assumes Collections April Retail Sales About As Expected - Consumers Spending At A Modest Pace Midday Need to Know: Initial jobless claims rises, Oil prices stabilize & more Deregulation could ease inflation pressures, Fed’s Miran says - CNBC interview

Tech companies say they're cutting costs as they invest more heavily in AI, which is reshaping how people work.

Mike Banks, who led Trump’s border crackdown, resigned weeks after reports of prostitution allegations Sign up for the Breaking News US newsletter email Mike Banks, the border patrol chief who oversaw the most aggressive militarization of the US southern border in recent history, has resigned with immediate effect. “It’s just time,” Banks told Fox News in an interview. “I feel like I got the ship back on course from the least secure, most disastrous, most chaotic border to the most secure border this country has ever seen.” Continue reading...

格隆汇5月15日｜伊朗议会内部事务委员会成员纳哈伊：作为对敌人任何侵略行径的回应，宣布关闭曼德海峡是合适的，这样侵略的代价对他们而言将变得难以承受。

Nicolae Popescu Netflix ( NFLX ) is hiring producers, software engineers, and CG artists for a new AI-driven animation studio called INKubator, according to technology and entertainment newsletter Lowpass. The job listings classify INKubator as a “next-generation, creative-led, GenAI-native animation studio to bridge innovation with imaginative storytelling.” The development of INKubator follows the company’s recent acquisition of Ben Affleck-founded AI startup InterPositive, which relies heavily on artificial intelligence in post-production, signaling Netflix’s ( NFLX ) efforts to include more AI-generated content. Lowpass claims the studio may have been established several months ago with former DreamWorks Animation, MRC Studios, and A24 Films executive Serrena Iver among top management. More on Netflix Don't Cancel Your Netflix Investment Disney And Netflix: Both Names Look Attractive Netflix Reigns Supreme With Unmatched Viewership, Global Reach, And Robust Fundamentals Netflix brings back fan favorites, more NFL games, and Quasimodo at the 2026 Upfront event From red envelopes to red carpets: The Netflix Effect and its impact on the global economy

Key PointsCoca-Cola, American Express, and Apple represent the core of Buffett's investment philosophy -- wide moats, durable brands, and loyal customers.

In this article MU CRWV Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 8:30 08:30 Cerebras CEO Andrew Feldman on IPO debut: This is the right way to fund our growth Squawk Box Cerebras Systems soared in its Nasdaq debut on Thursday, opening at $350 after selling shares at $185, well above the company's expected range. That values the chipmaker at over $100 billion. The company sold 30 million shares in its offering late Wednesday, raising $5.55 billion , the largest IPO for a U.S. tech company since Uber's debut in 2019. If underwriters exercise their option to buy 4.5 million additional shares, total proceeds could reach $6.38 billion. Cerebras, based in Silicon Valley, is benefiting from the artificial intelligence boom, which has lifted wide swaths of the semiconductor space in recent months, with Intel , Advanced Micro Devices and Micron all notching triple-digit gains this year. The VanEck Semiconductor ETF has jumped 58% so far in 2026. The rise of AI agents that can automatically complete tasks has boosted demand for Nvidia's dominant graphics processing units, as well as more traditional central processing units. Cerebras is the biggest pureplay AI IPO to hit Wall Street and the first notable tech offering in months, as the market has struggled to rebound from the downturn that began in 2022, when inflation began soaring. But investors could be in for a wave of historic IPOs with a focus on AI. Elon Musk's SpaceX, which merged with AI company xAI in February, is gearing up for a share sale, and model developers OpenAI and Anthropic could hit the market later this year. Andrew Feldman, co-founder and chief executive officer of Cerebras Systems Inc., center left, during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Thursday, May 14, 2026. Bloomberg | Bloomberg | Getty Images There were only 31 tech IPOs in 2025, down from 121 four years earlier, according to data from University of Florida's Jay Ritte...

jetcityimage/iStock via Getty Images Most retail investors and, surprisingly, many professionals track equities with incredible diligence but treat the bond market as noise. SPY is up, SPY is down, and the VIX shot up. Credit? “That’s for the fixed-income investors.” I can understand this instinct. The equity market is where the headline numbers live. The financial media spends 95% of its airtime discussing stocks. By comparison, bonds feel slow and technical: yields, durations, spreads, basis points… boring. They feel like something is happening in a back office somewhere, mattering to pension actuaries and not you. However, this mindset is not only fallacious but also an expensive mistake. Some of the most consistent, well-documented leading indicators of equities live in the credit market, not the equity market. In this article I will explore how the high-yield bond market has front-run every major equity drawdown of the last 25 years. I will explain why this is and where the market sits currently. Hopefully by the end of this article, readers will understand why credit moves first and use it as a monitoring tool for their investments. T he Empirical Record The underlying truth is simple: credit deteriorates before equities. Credit doesn’t always lead equities by a lot and not always with the same lead time, but it does so consistently enough that it should be used as a signal rather than a mere coincidence. When the high-yield bonds start selling off while the market is still making new highs, the bond market is telling us something the equity market hasn’t priced in yet. This should be considered by all investors. Let’s explore the 20-year history of this signal. Author compilation 2007-2008: High-yield spreads began widening in mid-2007, well before the S&P 500 made its October 2007 high. By the time equities cracked in 2008, credit had been deteriorating for over a year. 2015-2016: The energy-led selloff in late 2015 preceded the January and February 2016 equ...

Tech billionaire and Tesla founder Elon Musk walks through the Great Hall of the People with his son X Æ A-XII. Picture Alliance | Picture Alliance | Getty Images Elon Musk 's lead counsel, Steven Molo, apologized to the jury for his absence on Thursday, with the Tesla CEO accompanying President Donald Trump in China as closing arguments were made in the Musk-Altman trial. "This is something he is passionate about," Molo assured the jury about Musk's attention to the trial. The trial in federal court stems from a lawsuit Musk brought against his OpenAI co-founders, Sam Altman and Greg Brockman, alleging they had violated a promise to keep their company a nonprofit, and had unjustly enriched themselves by restructuring the business. Judge Yvonne Gonzalez Rogers had previously placed Musk on "recall status," meaning he was supposed to be available to return to the court, if needed, to testify on short notice, as NBC reported. The world's richest person testified during the first week of the trial . Read more CNBC tech news Xi tells Musk, Tim Cook and other CEOs on Trump's trip: China will 'open wider' Chinese companies are ramping up homegrown AI chips, even if Nvidia is coming back Cerebras prices IPO above expected range, as Wall Street braces for AI tsunami Microsoft feared being too dependent on OpenAI, Musk-Altman trial testimony reveals Witnesses in a trial would normally need to submit a motion for permission to travel and wait for a judge to grant that motion before traveling far away. A spokesperson for the court said they did not know if Musk obtained permission to travel. Musk's attorneys did not respond to a request for information about whether they cleared his travel with the judge or consulted with Musk regarding his travel. Musk traveled with Trump before closing arguments were underway, as the president held meetings with Chinese President Xi Jinping. Nvidia 's CEO Jensen Huang, and Apple CEO Tim Cook were part of Trump's delegation. In the Oakland co...

"An independent and accountable central bank is essential for monetary policy," Cleveland Fed President Beth Hammack said Thursday in opening remarks for a webinar about central banking. A wealth of research documents the ties between central bank independence and low inflation, she added. "The Federal Reserve must be accountable as well as independent," Hammack said. Hammack is a voting member of the Federal Open Market Committee this year. She did not express any views on monetary policy or her economic outlook during the remarks. She made the remarks as Kevin Warsh is poised to assume the Federal Reserve chair role from Jerome Powell after he received Senate confirmation on Wednesday. Warsh has also stressed the importance of the Fed being accountable to the public. Meanwhile, he also seeks to reform its framework, as he believes the central bank has strayed from its congressional mandate into areas like climate change and DEI. Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on Rates Upside Chasing In Tech Stocks Surges To Covid Extremes U.S. Bonds Hit 5%: Mayday Wells Fargo still sees two Fed rate cuts in 2026 despite recent hot inflation reports Boston Fed's Collins says her patience for 'looking through' price shocks is reduced

President Donald Trump has filed a disclosure showing massive buying and selling of U.S. stocks, index funds and other securities, including purchasing at least $1 million in shares of Boeing and Nvidia as those companies expect to score new business during his trip to China.

Chicago Atlantic BDC (NASDAQ:LIEN) reported record first-quarter 2026 net investment income as management pointed to strong loan deployments, a senior secured portfolio and limited exposure to interest-rate declines as key drivers of performance. Chief Executive Officer Peter Sa

Crescent Capital BDC (NASDAQ:CCAP) reported a more difficult first quarter as higher non-accruals, lower base rates and broader credit-market volatility weighed on earnings and net asset value, prompting management to lower fees and reset the company’s base dividend. Chief Execu

Apple (NASDAQ:AAPL) just delivered its best March quarter ever, raised the dividend, and authorized a fresh $100 billion buyback. Our model thinks the rally has more room to run. The 24/7 Wall St. price target for Apple is $350.68 over the next 12 months, implying 17.34% upside from the current price of $298.87. Our recommendation is ... Prediction: We See a New All-Time High For Apple

DEBBY LOWE/iStock via Getty Images McDonald's Corporation ( MCD ) is a company that needs no introduction due to a brand that is loudly and proudly represented worldwide. Restaurant Brands International Inc. ( QSR ) is less well-known as a stock, but flagship brands like Burger King and Tim Hortons are easily recognizable. While each company has its nuances and pros and cons, I see them as highly comparable competitors that can be traded as a pair. I covered this thesis in an article about a year ago , in which I compared the two firms in terms of fundamentals, but more importantly, valuation. The summary was that both are high-quality companies that can fit well in a long-term diversified portfolio as “buy and hold” stocks. However, as the valuations between the two diverge, my preferred strategy is to switch positions when the valuations dictate. MCD is a great long-term value creator and has rewarded shareholders well over the long term. QSR has been much more volatile, has higher leverage, but offers faster growth. QSR share price fluctuations over time have created regular buying opportunities. The Flipping Strategy I outlined a simple “Flipping Burger” strategy to capitalize on the valuation deviation that I have observed. In a nutshell, while the huge intangible value of the MCD brand and franchise deserves a premium valuation to QSR, this can stretch too far and tends to foreshadow a reversion. I proposed rotating between the two as the valuation premium ebbs and flows, or “flipping burgers.” This model indicated that a position in QSR was the right call over MCD, rating QSR a Buy. In my July 2025 update , I checked in on the strategy and reaffirmed a preference for QSR over MCD based on the relative valuations and business performance. Since the first article, QSR is up 20%, while MCD has declined by 13%. On 2 occasions, the two have reverted to square one, but QSR has pulled away almost immediately. Data by YCharts Looking at the chart from the July update...

(RTTNews) - European markets settled higher on Thursday with investors largely keeping an eye on the U.S.-China Summit in Beijing and closely following the developments in the United Kingdom, in addition to reacting to corporate earnings announcements.

Gopixa | Istock Editorial | Getty Images The cryptocurrency industry notched a key win after a Senate panel on Thursday approved the Clarity Act, the first wide-ranging piece of legislation pertaining to the new industry. The Senate Banking Committee largely voted along party lines, 15-9, with Democratic Sens. Ruben Gallego , of Arizona, and Angela Alsobrooks, of Maryland, joining all Republicans on the panel to vote for the bill. The measure has a long way to go before becoming law, given both powerful opposition and the fact that it would need to clear the full Senate as well as the House before heading to President Donald Trump 's desk. During the hearing, both Republicans and Democrats committed to continue working through areas of disagreement, including how best to ensure bad actors using digital assets can be caught and ethics language to address elected officials, like Trump, who have profited from crypto. Sen. Mark Warner , D-Va., one of several Democrats who has worked with Republicans on the bill, said while he was in "crypto hell the last couple months" he hopes to continue working on the bill and "get to crypto heaven." "I guess I'm right now in crypto purgatory, but I'm looking forward to getting all the way there," he said. Senator Mark Warner, a Democrat from Virginia, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Wednesday, June 25, 2025. Al Drago | Bloomberg | Getty Images Chair Tim Scott , R-S.C., said it was important to move the measure forward to provide guidance and standards for the crypto industry. "For years, the digital frontier was trapped in a regulatory gray zone," Scott said during the hearing. "Developers, entrepreneurs and investors were left with uncertainty. They faced confusion and enforcement actions, when instead, the government should have been crafting clear rules of the road." The bill was championed by numerous crypto companies , including Coinbase , Circle and Ripple,...

For a decade, owning anything outside the S&P 500 felt like paying tuition to learn a lesson you already knew. International developed equities lagged, the dollar marched higher, and every diversification pitch sounded like an apology. That trade has flipped. Over the past year, Vanguard FTSE Developed Markets ETF (NYSEARCA:VEA) returned 34% against the S&P ... International Stocks Keep Crushing the S&P. This Cheap ETF Is How You Get In