Earnings Call Insights: Global Water Resources (GWRS) Q1 2026 Management view "First, before jumping to normal operating highlights, I'd like to emphasize our focus on earnings growth." (Chairman, CEO & President Ron Fleming) "Although these investments grow rate base considerably and thus become drivers of future earnings growth, these investments increased certain operating expenses and most not...
Earnings Call Insights: Global Water Resources (GWRS) Q1 2026 Management view "First, before jumping to normal operating highlights, I'd like to emphasize our focus on earnings growth." (Chairman, CEO & President Ron Fleming) "Although these investments grow rate base considerably and thus become drivers of future earnings growth, these investments increased certain operating expenses and most notably, depreciation expense." (Chairman, CEO & President Fleming) "As I've been saying for many quarters now, we need new rates to keep up with all the investment and inflation that we have experienced in our utilities." (Chairman, CEO & President Fleming) "The recently announced rate case settlement provides a clearer path to a notable rate increase for our largest water utility, GW-Santa Cruz later this year." (Chairman, CEO & President Fleming) "In the meantime, 2026 is about working hard to control expenses, and we have reduced the pace of our capital investments." (Chairman, CEO & President Fleming) "Total active service connections increased 5.7% to 68,885 as of March 31, 2026, from the 12 months prior." (Chairman, CEO & President Fleming) "In the first quarter of 2026, this market realized 5,204 building permits, representing an 18.8% decrease compared to the same period in 2025." (Chairman, CEO & President Fleming) "Total revenue for the first quarter of 2026 was $13.3 million, which was up $0.8 million or 6.7% compared to Q1 2025." (Senior VP, CFO & Corporate Secretary Michael Liebman) "The unanimous settlement contemplates a water revenue increase of approximately $2.3 million for GW-Santa Cruz and a wastewater revenue decrease of $0.4 million for GW-Palo Verde as an extension of the existing temporary bill credit." (Chief Operating Officer Christopher Krygier) Outlook "The estimated effective date of these new rates is November 1, 2026." (Chief Operating Officer Krygier) "The next steps in the process include filing testimony in support of the settlement by the en...
Earnings Call Insights: Prestige Consumer Healthcare (PBH) Q4 2026 Management View "We experienced a challenging fourth quarter that fell short of expectations, resulting in full year revenue declining approximately 4%." (Chairman, President & CEO Ron Lombardi) "In Q4, Clear Eyes sales were below expectations due to delayed shipments and production shutdowns ahead of line updates." (Chairman, Pres...
Earnings Call Insights: Prestige Consumer Healthcare (PBH) Q4 2026 Management View "We experienced a challenging fourth quarter that fell short of expectations, resulting in full year revenue declining approximately 4%." (Chairman, President & CEO Ron Lombardi) "In Q4, Clear Eyes sales were below expectations due to delayed shipments and production shutdowns ahead of line updates." (Chairman, President & CEO Lombardi) "Free cash flow was approximately $246 million for fiscal '26, up slightly versus the prior year and in line with the outlook we gave at the beginning of the year." (Chairman, President & CEO Lombardi) "This durable and resilient free cash flow profile allowed us to repurchase shares in fiscal '26, acquire our manufacturer Pillar5, to enhance our long-term eye care output capabilities and build cash in advance of the pending Breathe Right and LaCorium acquisitions." (Chairman, President & CEO Lombardi) "Q4 revenue of $281.6 million declined 5% from $296.5 million in the prior year or 6.4% excluding FX." (CFO & COO Christine Sacco) "The revenue decline was attributable to lower eye and ear care category sales owing largely to Clear Eyes supply constraints and a portion of International segment sales affected by Middle East shipping disruptions." (CFO & COO Sacco) Outlook "For fiscal '27, we are forecasting revenues of $1.1 billion to approximately $1.12 billion with organic growth of approximately 1% to 3% for the year." (Chairman, President & CEO Lombardi) "For profitability, we expect adjusted EPS of $4.42 to $4.51." (Chairman, President & CEO Lombardi) "For Q1, we expect revenue to be approximately $250 million or about in line with prior year and adjusted EPS of $0.87, largely due to the timing of eye care supply." (Chairman, President & CEO Lombardi) "Lastly, we anticipate free cash flow of $250 million or more in fiscal '27." (Chairman, President & CEO Lombardi) "Please note that the guidance I've just discussed does not yet include either of thes...
Golden_Brown While President Trump's "Most Favored Nation" policy provides incentives for drugmakers to conduct more of their operations in the US, some biopharmas say it is critical to partner with companies around the world to advance R&D. "We seek innovation wherever it is," Catherine Owen Adams, CEO of Acadia Pharmaceuticals ( ACAD ), said during a panel discussion at the FT US Pharma and Biot...
Golden_Brown While President Trump's "Most Favored Nation" policy provides incentives for drugmakers to conduct more of their operations in the US, some biopharmas say it is critical to partner with companies around the world to advance R&D. "We seek innovation wherever it is," Catherine Owen Adams, CEO of Acadia Pharmaceuticals ( ACAD ), said during a panel discussion at the FT US Pharma and Biotech Summit in New York, adding that there is a "large amount of qualified scientific bodies around the world." "US innovation is vitally important and has always been at the forefront" of innovation, she continued. But it's "difficult with MFN when [you can be] potentially penalized for innovations around the world." Shalabh Gupta, CEO of Unicycive Therapeutics ( UNCY ), added that his company has partnerships with researchers in China and South Korea. "We believe that patients we can serve are everywhere." In another panel, Eric Tokat, partner at Centerview Partners, noted that he has been spending more time in China with companies there than before. He conceded that while Chinese biopharma companies in the past were mostly "copycats, today there are real innovations." Tokat said that China has the advantage now of doing R&D more cheaply and efficiently compared to the US. "That is very difficult to [compete with] in the long run....It shouldn't take years to get patient data when China can do it in six months." However, Tokat believes that the US will remain at the forefront of biopharma R&D "provided we continue funding universities and the NIH." Earlier in the day at the FT conference, Pharmaceutical Research and Manufacturers of America (PhRMA) COO Lori Reilly said that the US is at risk of losing its lead in R&D to China through the MFN policy. In the next five years, Adams sees the first drug created entirely by AI going into testing. Gupta predicted that more single treatment, "one and done" therapies will be developed over the timeframe. More on Acadia Pharmaceutic...
Biden FBI Quietly Hid Trump Prosecution Files For Potential Post-2028 Case Authored by Luis Cornelio via Headline USA , Another trove of newly unearthed Biden-era files suggest that the FBI attempted to retain purported evidence related to its prosecution of President Donald Trump until 2030 — when he would presumably be out of office. The documents , reported Tuesday by Just the News , add to a g...
Biden FBI Quietly Hid Trump Prosecution Files For Potential Post-2028 Case Authored by Luis Cornelio via Headline USA , Another trove of newly unearthed Biden-era files suggest that the FBI attempted to retain purported evidence related to its prosecution of President Donald Trump until 2030 — when he would presumably be out of office. The documents , reported Tuesday by Just the News , add to a growing body of records that have detailed the breadth of the aggressive actions targeting Trump, Republican lawmakers and conservative organizations connected to the 2020 election. According to the report, the retention effort came as part of a broader push to preserve materials gathered by then-Special Counsel Jack Smith following the dismissal of related cases. Such materials are typically handled under DOJ procedures once a case is closed. The documents in question were reportedly created in 2025, as Trump was preparing to return to office in January, and relate to investigations tied to the certification of the 2020 presidential election. The decision to retain the evidence has raised questions about whether federal officials were preserving the option to revisit the case after Trump leaves office, when DOJ rules barring the prosecution of a sitting president would no longer apply. The case itself was closed without prejudice, meaning it could be refiled at a later date. As reported by Just the News: “One of the key ‘Case Closing’ documents obtained by Just the News – originating from the FBI’s Washington Field Office’s CR-15 team – was dated a couple of weeks into Trump’s second term, on February 5, 2025, when many holdover FBI agents and leaders were still in place. The newly-released closing document from early 2025 repeated the extensive claims of criminality against Trump, which had been pursued by Smith and the bureau, and it sought to retain all of the evidence for a half decade until at least February 2030, when Trump would be a former president once more and th...
Here is the trade of the decade: hyperscalers are spending hundreds of billions on AI infrastructure, and almost all of that money lands on one company’s income statement. NVIDIA (NASDAQ:NVDA) just guided fiscal first quarter 2027 revenue to roughly $78 billion, on top of full year fiscal 2026 revenue of $215.94 billion, all delivered at ... NVIDIA Robs All of Big Tech. Except Apple
Here is the trade of the decade: hyperscalers are spending hundreds of billions on AI infrastructure, and almost all of that money lands on one company’s income statement. NVIDIA (NASDAQ:NVDA) just guided fiscal first quarter 2027 revenue to roughly $78 billion, on top of full year fiscal 2026 revenue of $215.94 billion, all delivered at ... NVIDIA Robs All of Big Tech. Except Apple
Stephen Douglass, chief economist and a member of NISA Investment Advisors’ global investment committee, explains why he still sees the US economy as broadly consistent with a soft-landing path once the current oil shock fades, even though the war has complicated the timing of Fed rate cuts. He joined Ira Jersey, Bloomberg Intelligence’s chief US interest-rate strategist on this edition of Macro M...
Stephen Douglass, chief economist and a member of NISA Investment Advisors’ global investment committee, explains why he still sees the US economy as broadly consistent with a soft-landing path once the current oil shock fades, even though the war has complicated the timing of Fed rate cuts. He joined Ira Jersey, Bloomberg Intelligence’s chief US interest-rate strategist on this edition of Macro Matters. The two discuss Kevin Warsh’s arrival as Fed chair, why Douglass expects more incremental th
On May 14, 2026, Siren disclosed a new position in Veradermics (NYSE:MANE) , acquiring 1,505,374 shares in an estimated $75.94 million trade based on quarterly average pricing. According to a filing with the Securities and Exchange Commission dated May 14, 2026, Siren established a new position in Veradermics by acquiring 1,505,374 shares. The estimated transaction value was $75.94 million, calcul...
On May 14, 2026, Siren disclosed a new position in Veradermics (NYSE:MANE) , acquiring 1,505,374 shares in an estimated $75.94 million trade based on quarterly average pricing. According to a filing with the Securities and Exchange Commission dated May 14, 2026, Siren established a new position in Veradermics by acquiring 1,505,374 shares. The estimated transaction value was $75.94 million, calculated using the mean unadjusted closing price for the first quarter of 2026. The quarter-end value of the stake stood at $95.06 million, reflecting both the share purchase and subsequent price movement. Veradermics is a biotechnology company focused on innovative therapies for dermatologic and aesthetic disorders. The company develops treatments that target both adult and pediatric dermatology. Its pipeline of novel treatments positions Veradermics to compete in specialized segments of the healthcare market. Continue reading
Gautam Adani, richest man in Asia, was accused of conspiring to pay $250m in bribes to Indian government officials The US Department of Justice is dropping its fraud charges against the Indian billionaire Gautam Adani, the richest man in Asia, after he hired a new legal team led by Donald Trump’s personal lawyer, according to new reports. In an undisclosed April meeting at the justice department, ...
Gautam Adani, richest man in Asia, was accused of conspiring to pay $250m in bribes to Indian government officials The US Department of Justice is dropping its fraud charges against the Indian billionaire Gautam Adani, the richest man in Asia, after he hired a new legal team led by Donald Trump’s personal lawyer, according to new reports. In an undisclosed April meeting at the justice department, Trump’s personal lawyer, Robert J Giuffra Jr, said that Adani would invest $10bn in the US economy and create 15,000 jobs if prosecutors dropped the charges against him, according to the New York Times and Bloomberg. Continue reading...
Panida Wijitpanya | Istock | Getty Images Short sellers are increasingly hunting for cracks beneath the stock market's artificial-intelligence frenzy, betting that some of the speculative excesses, copycat "AI" branding and vulnerable legacy business models could eventually unravel. As billions of dollars flood into data centers, semiconductors and AI software, some short sellers argue the rally i...
Panida Wijitpanya | Istock | Getty Images Short sellers are increasingly hunting for cracks beneath the stock market's artificial-intelligence frenzy, betting that some of the speculative excesses, copycat "AI" branding and vulnerable legacy business models could eventually unravel. As billions of dollars flood into data centers, semiconductors and AI software, some short sellers argue the rally is beginning to resemble previous speculative manias, where weaker companies rushed to attach themselves to the hottest market theme in hopes of attracting capital and retail traders. "A rising tide lifts all boats, and a twisting tide takes down a lot of names in the same neighborhood," Joyce Meng, founder of Fact Capital, said during a panel discussion at Sohn Investment Conference this week in New York. "Especially in the market where you have an AI frenzy, everyone trying to go jump into that, one of our favorite themes is fake AI." Meng said she likes to run screens to identify companies that abruptly rebranded themselves to capitalize on the boom, including firms that suddenly changed their names to include the word "AI." One target that Meng identified using the "AI name change" screen is Rezolve AI , which changed its name from Rezolve Group Limited in 2023 . After digging deeper into the company, Meng said she saw multiple red flags around the business and predicted the stock to fall 60%. Meng also pointed to a Chinese landscaping company that later reinvented itself as an AI server business. During her firm's research, she said the company appeared to have photoshopped products into marketing materials on its website and claimed to have hired employees listed on LinkedIn that turned out, according to Fact Capital's checks, to not actually work there. The examples echo some of the increasingly surreal corporate pivots emerging during the AI boom. Allbirds, the struggling shoemaker, said last month it would rebrand itself as "NewBird AI" and shift toward compute infr...
Andrii Dodonov/iStock via Getty Images Investment Approach Fidelity ® Diversified International Fund is a broadly diversified international equity strategy that seeks capital growth by investing primarily in stocks from foreign developed markets. We manage the fund with a long-term view, focusing on high-quality businesses with durable or improving growth prospects that are benefiting from competi...
Andrii Dodonov/iStock via Getty Images Investment Approach Fidelity ® Diversified International Fund is a broadly diversified international equity strategy that seeks capital growth by investing primarily in stocks from foreign developed markets. We manage the fund with a long-term view, focusing on high-quality businesses with durable or improving growth prospects that are benefiting from competitive advantages and are structured to achieve consistent profitability. We also value strong balance sheets, proven track records, high returns on capital and solid management teams whose interests are aligned with those of shareholders. We strive to uncover these companies through in-depth fundamental analysis, working in concert with Fidelity's global research team. While conscious of valuations, we may be willing to pay a slight premium for stocks we favor. Our disciplined investment process results in a style-consistent strategy that participates in the market in a risk-managed manner. Fund Information Manager(s): Bill Bower Trading Symbol: FDIVX Start Date: December 27, 1991 Size (in millions): $13,366.12 Morningstar Category: Foreign Large Growth Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. Performance Summary Cumulative Annualized 3 Month YTD 1 Year 3 Year 5 Year 10 Year/ LOF 1 Fidelity Diversified International Fund Gross Expense Ratio: 0.66%2 -0.53% -0.53% 20.98% 13.55% 6.53% 8.45% MSCI EAFE Index (Net MA) -1.17% -1.17% 21.61% 13.90% 8.16% 8.62% Morningstar Foreign Large Growth -4.01% -4.01% 12.49% 8.99% 2.82% 7.42% % Rank in Morningstar Category (1% = Best) -- -- 22% 17% 16% 35% # of Funds in Morningstar Category -- -- 382 359 332 225 Click to enlarge 1 Life of Fund (LOF) if performance i...