据 商务部网站 ，3月27日，商务部部长王文涛在喀麦隆雅温得出席世贸组织第14届部长级会议期间，会见印度商工部长高耶尔。双方就中印经贸关系和世贸组织改革等议题深入交换意见。中国常驻世贸组织代表团大使李詠箑参加会见。 王文涛表示，中国和印度都是全球南方的重要国家，两国领导人就中印关系达成一系列重要共识。双方互为重要经贸合作伙伴，在区域和多边框架下密切合作，共同维护发展中成员利益、捍卫国际公平正义。中国商务部愿与印度商工部遵循两国领导人的战略引领，发挥好双边经贸合作的“压舱石”作用，欢迎印方积极参加“共享大市场·出口中国”等系列活动，用好中国国际进口博览会、中国-南亚博览会等平台，扩大对华出口。中方愿与印方加强沟通合作，共同维护世贸组织基本原则和规则，将发展议题置于中心地位，维护发展中成员正当权益，推动第14届部长级会议取得务实成果，展现历史担当。 高耶尔表示，中国是印度第二大贸易伙伴，印中两国将于2026年和2027年先后举办金砖合作机制会议。印中双方应在国际经贸合作中发挥更重要作用，共同维护国际贸易规则和公平公正的贸易环境，实现更加平衡的贸易关系。 王文涛部长还与高耶尔部长就双方关注的《促进发展的投资便利化协定》、最惠国待遇等问题深入交换了意见看法。

HJBC/iStock Editorial via Getty Images You may recall, dear readers, I've spent some time building an ArcelorMittal ( MT ) position. In my last article on the company, about two months ago, I went "HOLD" on the business due to what I considered to be the company reaching my valuation target. However, shortly after this article, which you can find here , the company outperformed and "shot up." As a result of this and the result of my targets given in my article, I rotated my position as per my guidance in that article. I did not rotate at the "peak" for the company, but I did manage close to it, netting a profit inclusive of dividends of close to 80% in a relatively short timeframe. Seeking Alpha ArcelorMittal RoR Also, as I made clear in my last article, that rating change didn't mean that I considered ArcelorMittal to be a rotation target at that time – it, in fact, "validated my conviction for MT as a core portfolio holding." It's just that the upside that happened in the course of 2-3 weeks after the article triggered a couple of alerts in my portfolio and PT's, which ultimately caused me to decide to sell about 85% of my stake. I therefore have about 15% left, still at a very good PT. As of this article, we'll explore both the short-term implications of the company's violent movement and what it signifies for the longer term for the business. ArcelorMittal has delivered significant short-term outperformance even considering the recent decline, with short term in this context meaning for about a year's period. The company was attractive both from a growth perspective (meaning growth in EPS) but also from a value perspective (meaning that the company was technically trading below where it should be trading, given its fundamentals). I will show you with clarity why, during the company's peak, it was overvalued and why I sold, and why now it's not overvalued, and why there might be an upside to the company. ArcelorMittal - Why there was overvaluation a few weeks ago...

In trading on Friday, shares of Hecla Mining Co's $3.50 Series B Cumulative Convertible Preferred Stock (Symbol: HL.PRB) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $3.50), with shares changing hands as low as $62.67 on the day. As of last

JHVEPhoto What's the best memory chip play right now amid an industry-wide shortage of the components? Seeking Alpha analysts Nova Capital and Yiannis Zourmpanos offer their picks. Nova Capital : I like SanDisk ( SNDK ) on its recent dip. I know it's down only about 10% off its highs, but the sell-off was likely driven by the general market's weakness in recent trading sessions and also the fact that SK Hynix is preparing to list ADRs in the U.S. (Some market participants may be getting ready for reallocation, selling other memory names in advance.) I covered SNDK on March 13th, and my core thesis remains the same: amid the shift toward AI inference that requires massive NAND flash scalability and the fact that they're strictly capping bit growth in the mid-to-high teens through the decade, I don't see any possible setbacks in pricing for SNDK's offerings in the next couple of years at least. My 12- to 24-month price target range on it was $900-$1,500/share, and I still think the higher end of this range is doable for SNDK. Yiannis Zourmpanos : My top pick in memory right now is Micron Technology ( MU ). At around $355, it feels meaningfully undervalued versus the ~$516 consensus target, roughly 45% upside for a name so central to AI infrastructure. At ~17x forward earnings, you’re not paying a premium either, which makes the setup even more compelling. What really drives my conviction is HBM. Micron has already locked in most of its 2026 supply, and with DRAM constraints tightening, pricing power looks both strong and sustainable. I also like SanDisk ( SNDK ) as a pure NAND play. AI-driven SSD demand is clearly accelerating, and long-term deals with hyperscalers give it solid visibility. That said, after its recent run, the risk/reward feels less attractive. Between the two, I’m more comfortable with MU here (which I hold)—better value, more diversified, and still underappreciated. Top Technology Hardware, Storage & Peripherals Stocks More on Micron Technology, San...

The S & P 500 could soon join the other U.S. benchmarks in a correction as the Iran war stretches into a fifth week. Stocks are quickly deteriorating, with each of the major averages on pace to post an ugly month of losses as hopes for a quick resolution to the Middle East conflict gives way to fear. This week, the Nasdaq Composite fell into correction territory, with the Dow Jones Industrial Average quickly joining the tech-heavy benchmark. The S & P 500 doesn't look too far behind, just a little more than 8% off its own all-time high. A correction is defined as a slide of more than 10% and less than 20% from a recent peak. The technical setup is worrisome as well, given that the S & P 500's recent breakdown below its 200-day moving average suggests there's further downside ahead. At the very least, it will mean more volatility. An analysis from Cormark Capital Markets showed that the Vix averages 17 when it's above its 200-day, versus 26 when it's below that support. All month, investors have been hopeful that a quick resolution to the Iran war will mean the bull case for equities remains intact, given that strong earnings growth and easier fiscal policy is supportive — even now — of a big recovery later this year. But they are also growing more uneasy the longer the Strait of Hormuz remains closed as the conflict starts to have real-world ramifications. "I think if you tell me what's going to happen in the Middle East, I can tell you what's going to happen in the market," said Thomas Browne, portfolio manager at Keeley Gabelli Funds. The investment landscape is starting to reflect those changes in expectations. Treasury yields are rallying, with the 10-year above 4.4% as inflation expectations rise. Fed funds futures pricing is starting to show an interest rate hike expected later this year, instead of a cut. Oil remains above $100 a barrel , with many prognosticators dubious it will come down anytime soon. For a time, it appeared as though investors could count ...

控中芯國際援伊中美再開戰- 日報 工商時報

In Surprise Move, Iran Blocks Two Chinese Ships From Transiting Hormuz In a surprise twist, Iran appears to have turned its back on its best (and only) client, Beijing, when it blocked two China-owned container vessels from the Strait of Hormuz in what the WSJ said was an unusual move by Tehran, which has focused its shipping blockade on countries it deems supporters of Israel and the U.S. Paper says “open.” Reality says something else. Today, two ultra‑large COSCO container ships — CSCL Indian Ocean and CSCL Arctic Ocean — tried to exit the Gulf through Iran’s “approved” Hormuz lane… but turned back even after Iran said Chinese ships could pass. Operators… pic.twitter.com/vbEn0WKQYm — The Maritime (@themaritimenet) March 27, 2026 The two ships - CSCL Indian Ocean and CSCL Arctic Ocean - made U-turns near Larak Island, about 20 miles from the port of Bandar Abbas in southern Iran , the WSJ reported . COSCO vessels abort Strait of Hormuz transit attempt amid ongoing instability Following COSCO’s announcement to resume booking acceptance to Gulf destinations, new developments overnight suggest the situation in the Strait of Hormuz remains highly unstable. According to… pic.twitter.com/VkrtGwOZgD — MarineTraffic (@MarineTraffic) March 27, 2026 In recent days, some ships have transited the strait via the narrow channel between Iran’s Qeshm and Larak islands, including those signaling Chinese owners and crew members. Also on Friday, Iran’s Revolutionary Guard said that it had turned back three container ships of various nationalities trying to cross the strait, adding that all ship traffic to and from ports of supporters of the U.S. and Israel was prohibited, according to Nour News, which is affiliated with the country's Supreme National Security Council. Container ship owners told the WSJ the only vessels that can now cross the strait are those with cargoes of Iran-destined household goods, cars, clothing and pharmaceuticals. In the past week, Iran has allowed four ship...

Meta set to decline over 12% for the week amid landmark legal losses, heavy AI bets (META:NASDAQ) seekingalpha.com

周五，美国WTI原油价格盘中触及每桶100美元。这表明伊朗仍在封锁这条重要海上航线的交通。 美国原油价格一度触及每桶100.04美元的盘中高点，随后小幅回落。西得克萨斯中质原油期货收涨5.46%，报每桶99.64美元。国际基准5月交货的布伦特原油期货最新上涨4.05%，至每桶112.38美元。 美国总统特朗普给予伊朗10天延长期以开放这一战略要地的举措，未能缓解供应担忧。 特朗普周四在社交媒体上发文称，尽管“假新闻媒体和其他方面发表了相反的错误言论”，但与伊朗的谈判“进展非常顺利”。 作为声明的一部分，这位美国总统表示，他将暂停对伊朗能源基础设施的攻击，直至4月6日。伊朗尚未对特朗普的最新言论发表评论。 特朗普周四在内阁会议上还表示，伊朗本周允许10艘油轮通过霍尔木兹海峡，作为给美国的“礼物”。 “他们说，‘为了向你表明我们是真实可靠的，我们让你运走八船石油……它们明天就会启航，’”特朗普在谈到伊朗时说道。 他补充说，最终运出的油轮数量更多。“然后他们为自己说的话道歉，他们说，‘我们再派两艘船。’结果总共变成了10艘船，”他说。 市场一直密切关注霍尔木兹海峡的事态发展，以寻找中断或局势缓和的迹象，因为华盛顿与德黑兰之间的紧张局势持续为能源价格注入波动性。 特朗普的言论表明，至少部分石油运输仍在通过该水道，这可能缓解了眼前的供应担忧。 然而，分析师警告称，即使个别运输恢复，更广泛的石油市场仍日益脆弱。 睿咨得能源首席石油分析师保拉·罗德里格斯-马休表示：“石油市场对霍尔木兹海峡中断的反应并非不足，而是消化了它。” 她说：“近四周来，市场表现出显著的韧性……这得益于战前盈余、在途原油以及政策储备的综合作用，它们提供了临时缓冲并控制了价格。这一阶段现在即将结束。” 据睿咨得能源称，经过数周的供应损失和库存消耗，全球体系已从“有缓冲”转向“脆弱”，几乎没有空间来吸收进一步的冲击。 该公司估计，每天有近1780万桶的石油和燃料流经霍尔木兹海峡的运输已中断，迄今为止，损失的原油供应总量接近5亿桶。 责任编辑：张俊 SF065

格隆汇3月28日｜当地时间27日晚，伊朗外长阿拉格齐与黎巴嫩议会议长贝里通电话，就地区最新局势交换意见。阿拉格齐在通话中对贝里支持黎巴嫩国家团结的原则立场表示赞赏。他重申，伊朗坚定支持黎巴嫩主权和领土完整，强调在当前敏感局势下，维护和加强国内凝聚力至关重要。贝里在通话中介绍了以色列对黎巴嫩的攻击情况，指出以色列旨在“破坏”黎巴嫩关键基础设施，导致当地居民不得不迁离。双方在通话中还强调，将继续加强和发展两国关系。

Source: Bloomberg, 0:00

3月27日，商务部部长王文涛在喀麦隆雅温得出席世贸组织第14届部长级会议期间，会见印度商工部长高耶尔。双方就中印经贸关系和世贸组织改革等议题深入交换意见。中国常驻世贸组织代表团大使李詠箑参加会见。王文涛表示，中国和印度都是全球南方的重要国家，两国领导人就中印关系达成一系列重要共识。双方互为重要经贸合作伙伴，在区域和多边框架下密切合作，共同维护发展中成员利益、捍卫国际公平正义。中国商务部愿与印度商工部遵循两国领导人的战略引领，发挥好双边经贸合作的“压舱石”作用，欢迎印方积极参加“共享大市场·出口中国”等系列活动，用好中国国际进口博览会、中国-南亚博览会等平台，扩大对华出口。中方愿与印方加强沟通合作，共同维护世贸组织基本原则和规则，将发展议题置于中心地位，维护发展中成员正当权益，推动第14届部长级会议取得务实成果，展现历史担当。高耶尔表示，中国是印度第二大贸易伙伴，印中两国将于2026年和2027年先后举办金砖合作机制会议。印中双方应在国际经贸合作中发挥更重要作用，共同维护国际贸易规则和公平公正的贸易环境，实现更加平衡的贸易关系。王文涛部长还与高耶尔部长就双方关注的《促进发展的投资便利化协定》、最惠国待遇等问题深入交换了意见看法。（商务部）

Telecom Italia SpA is preparing to scrap the renewal of a mobile-phone tower agreement with Inwit SpA that would have extended the contract through 2038, according to people familiar with the matter.

Apple plans to open Siri to outside artificial intelligence assistants, a major move aimed at bolstering the iPhone as an AI platform. Bloomberg’s Mark Gurman discusses what’s driving the move with Ed Ludlow on “Bloomberg Tech.” (Source: Bloomberg)

格隆汇3月28日｜美国农业部长罗林斯：（谈霍尔木兹海峡通行受阻对肥料的影响）我对成本感到担忧。

The wheat complex is trading with strength on Friday. Chicago SRW futures is showing fractional gains on Friday. KC HRW futures are trading with 6 to 7 cent gains across the front months to lead the wheat charge. MPLS spring wheat is 3 to 4 cents higher at midday on...

Corn futures are trading with contracts 2 to 4 cents lower on Friday’s midday, easing lower into the weekend. The CmdtyView national average Cash Corn price is down 3 1/4 cents to $4.21 1/4. Export Sales data from Thursday tallied old crop corn commitments at 68.875 MMT, a 30% improvement...

Nemes Laszlo/iStock via Getty Images Investment Overview Autolus Therapeutics plc ( AUTL ), the London, United Kingdom and Gaithersburg, Maryland headquartered, commercial stage biotech company, marketer and seller of Aucatzyl (obecabtagene autoleucel), a cell therapy indicated for adults with relapsed or refractory B-cell acute lymphoblastic leukemia, announced its Q4 and full-year 2025 earnings and business updates earlier today. At the time of writing, the stock is down ~5% for the day, trading at a value of $1.23, and Autolus' market cap valuation stands at ~$343m. Let's consider some headline figures: Aucatzyl earned $23.3m of product revenues in Q4 2025, and $74.3m for the full-year. R&D expenses in Q4 amounted to $35.6m, and SG&A expenses $35.8m, and net loss was recorded as $(90.3m), compared to $(27.6m) in Q4 2024 (primarily due to an income expenses benefit of $49.7m). For 2025 as a whole, Autolus' net loss was $(288m), compared to $(221m) in the prior year. R&D expenses came to $118m, SG&A $132m, and cost of sales was recorded as $96.4m. Guidance for 2026 has been provided for product revenues of $120m - $135m, with a "shift to positive gross margin." The company adds that : Based on current operating plans, including anticipated AUCATZYL ® net revenues, Autolus expects that its current and projected cash, cash equivalents and marketable securities will be sufficient to fund the Company’s operations into Q4 2027. Today's press release also highlights upcoming milestones, as per the table below: Autolus - anticipated news flow (press release) Analysis: Who'd Be A Cell Therapy Developer? On the FDA website are listed ~50 approved cell therapies, however, many are quite obscure stem cell therapies, others more gene therapy than cell therapy (Elevidys, Zolgensma), and my research suggests that in 2025, only three bona fide cell therapies, Gilead Sciences' ( GILD ) Yescarta, Bristol Myers Squibb's ( BMY ) Breyanzi, and Johnson & Johnson's ( JNJ ) Carvykti, all...

James S. Metcalf, Director of Gibraltar Industries (NASDAQ:ROCK) , reported the open-market purchase of 12,444 shares for a transaction value of ~$502,000 on March 10, 2026, according to a SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($40.35); post-transaction value based on March 10, 2026 market close ($642,940.00). * 1-year price change calculated using March 10, 2026 as the reference date. Continue reading

Jerome Maurice/iStock via Getty Images Introduction Equity markets have slumped so far in 2026, largely driven by energy price volatility amid the ongoing war in the Middle East. While the United States is arguably seen as a net beneficiary due to its status as an energy exporter, the S&P 500 has nevertheless underperformed overseas markets, impacted by high valuations and its overreliance on growth in the information technology sector. Against this backdrop, bearish ETFs such as the Direxion Daily S&P 500 Bear 3X ETF ( SPXS ) have soared in value, delivering double-digit gains for investors who used the ETF to hedge downside risks. While in this article I will also list reasons to keep investing in SPXS, I now believe that a Hold rating is appropriate for the ETF, down from my previous Buy rating . My downgrade is driven by: A marked shift to negative investor sentiment, potentially indicating that negative factors are already priced in to an extent. Political considerations such as the November 2026 midterms and the upcoming China visit for President Trump, increasing pressure to find a diplomatic solution. Funding pressures for the U.S. government as overseas investors need to access liquidity, with energy export windfall likely not enough to plug the current account deficit. For those not familiar with SPXS, its strategy can be summarized as follows: SPXS allows investors to participate in downside moves in the S&P 500. For instance, each 1% decline in the index should result in a 3% daily gain for SPXS. The opposite is also true: a 1% increase in the S&P 500 will lead to a 3% loss for SPXS holders. This dynamic is explained by the ETF's 300% (3x) leverage. Full details are available on the Direxion website here . Sentiment Is Negative My thinking on hedges has always been that you put them in during good times when markets are quiet and remove them during periods of elevated market volatility, most often associated with equity market declines. As such, the curr...

格隆汇3月28日｜美国国土安全部：美国运输安全管理局的员工最早将于周一收到工资。

Dow's 734-Point Drop Led By Losses For Amazon.Com Inc., UnitedHealth Stocks Moomoo

Getty Images Introduction & Investment Thesis The Magnificent 7 complex, consisting of Microsoft (NASDAQ: MSFT ), Meta (NASDAQ: META ), Google (NASDAQ: GOOG ), Amazon (NASDAQ: AMZN ), Apple (NASDAQ: AAPL ), Nvidia ( NASDAQ: NVDA ) and Tesla (NASDAQ: TSLA ), has been underperforming the S&P 500 ( SPY ) for approximately five months, beginning in late October/early November 2025. The group began losing momentum even though the S&P 500 continued to make higher highs into late January 2026. The reason why the Magnificent 7 complex matters so much to the long-term outperformance of the S&P 500 is because 33% (or roughly one-third) of the index is weighted towards these stocks. Note that the term "Magnificent 7” (a.k.a. Mag 7) was coined by Michael Hartnett, Chief Investment Strategist at Bank of America Global Research, in May 2023, and while the whole complex surged in 2023 and 2024 from the early AI boom, the outperformance relative to the S&P 500 started narrowing, especially in 2025. On a YTD basis, an equal-weighted Magnificent 7 complex is down over 13%, compared to the 5.38% decline for the S&P 500 during this period of time. On a technical level, we are now approaching a key support level (which we will discuss in the next section), which begs the question, are we setting up for a rally in the complex, especially when the premium relative to the S&P 500 is the lowest in a decade? Let’s Start With Mag 5 From their respective 52-week highs, every single one of the Magnificent 7 companies has lost at least 12% of their market cap, as can be seen below, with Apple facing the least of the brunt, while Tesla, Meta, and Microsoft are in bear market territory. Source: Leverage Share, Percentage of drawdown from peak for Mag 7 Meanwhile, when we look at the price performance of the equal-weighted Magnificent 7 complex, it is approaching a key support level in order to sustain its upward trajectory since 2023. Like I discussed earlier, the Magnificent 7 is hugely important...

Alphabet (GOOG) Stock: Google to Finance Anthropic’s $5 Billion Texas Data Center CoinCentral

HJBC/iStock Editorial via Getty Images TotalEnergies (NYSE: TTE ) is one of the oil and gas supermajors with a $190 billion market cap. The company's impressive LNG portfolio combined with a number of international deepwater startups and a low valuation mean that TotalEnergies is well positioned, even with its recent appreciation, to drive substantial shareholder returns. TotalEnergies 2025 Results TotalEnergies saw 4% in upstream production growth in 2025, with costs at only $5 / barrel. TotalEnergies Investor Presentation The company managed to start up a number of exciting new projects, with an FID on the Rio Grande LNG Train 4, at a time of high LNG demand. The company is expanding its power portfolio, with +20% net power production, and major datacenter contracts signed, providing hundreds of millions of dollars of new adjusted EBITDA. TotalEnergies Investor Presentation Versus the company's 2025 objectives, TotalEnergies slightly missed electricity production, but across the remaining segments, it saw incredibly strong performance. Overall top-line energy production growth hitting that 5% metric is key, and the company beating its goals for carbon intensity is key to long-term performance. TotalEnergies Investor Presentation The company's cash flow allocation shows TotalEnergies ability to do well in a lower oil price environment. The company had $27.8 billion in CFFO, which left $10.7 billion in FCF. From there, the company comfortably paid its mid-single-digit dividend yield and spent an additional $7.5 billion in buybacks, driving an almost double-digit shareholder yield. Debt did increase slightly, but the company still comfortably maintained a 14.7% gearing ratio. TotalEnergies Namibia TotalEnergies is chasing Namibia as its next major offshore play and is building up an impressive portfolio there. TotalEnergies Investor Presentation For PEL56, the company is the operator with a 35% share. Venus is the first FPSO with 750 million barrels of reserves. For ...

Pheelings Media | Istock | Getty Images The average tax refund is 10.9% higher so far this season, compared with about the same period in 2025, according to the latest IRS filing data. As of March 20, the average refund amount for individual filers was $3,571, up from $3,221 roughly one year ago, the IRS reported on Friday. The IRS data reflects about 79 million individual returns received, out of about 164 million expected through the April 15 deadline. Read more CNBC personal finance coverage Average IRS tax refund is up 10.9%, latest filing data shows 1.4 million filers face tax refund delays amid IRS paper check phaseout Family caregivers now provide $1 trillion worth of care annually, AARP finds Higher gas prices from Iran war could offset Trump's bigger tax refunds Single women see homeownership as 'a wealth-building tool,' economist says Amid March Madness, NY Fed highlights sports betting toll on credit health Social Security benefits can top $100,000 a year for some couples Iran war may further 'chill' an already frozen job market, economist says More than 7 million student loan borrowers are in a defunct payment plan Lawmakers warn of price gouging amid Iran war — experts point to supply shocks Donating from your IRA has tax advantages. A bipartisan bill may expand options BlackRock CEO Fink: Trump accounts may be 'significant' wealth-building tool The uneven cost of tariffs: Why some households will pay more than others When it comes to private credit, 'some caution is reasonable,' advisor says CNBC's Financial Advisor 100: Best financial advisors, top firms ranked Many filers are seeing higher tax refunds compared to the previous season based on changes enacted via President Donald Trump 's " big beautiful bill ." But the difference hasn't been as large as some early predictions for the average filer. In a March 4 House Ways and Means Committee hearing , Frank Bisignano , Social Security Administration commissioner and IRS CEO, said that certain filers c...

Justin Sullivan/Getty Images News Shares of Meta Platforms ( META ) continue to be pressured, declining more than 4% by Friday late afternoon after closing with nearly 8% losses in the previous trading session. Adding to the current woes, among other things, are the recent case rulings against the social media giant in the U.S. Juries in New Mexico and Los Angeles, presiding over two separate and distinct cases, issued unfavorable verdicts for the company. One ruling was that the company's apps failed to protect children from sexual exploitation, for which it was fined $375M, and the other held it liable for inducing social media addiction in a young woman and was penalized about $4.2M. However, the latter ruling by the LA jury has stirred a serious buzz, with many calling it a “Big Tobacco” moment as the case is being labeled a bellwether for pending and upcoming lawsuits to hold social media platforms accountable for the addictive design of their products. Settlements for addiction claims could reach "single-digit billions" for Meta, according to analysts from Bloomberg Intelligence . Meta has said it “respectfully” disagrees with the verdict in the social media addiction case and is exploring its “legal options” to fight back. On the other hand, investors are cautiously optimistic about Meta's latest obsession: aggressive spending on AI data centers. The capital spending plan of up to $135B this year, mostly for data centers, has put Wall Street on tenterhooks after the company's Reality Labs unit, which botched an $80B investment on the metaverse project over the last five years, announced that it will scale back on operations. To offset heavy spending on infrastructure and poaching external talent, the company is frequently slashing jobs across the board, and to motivate top brass to achieve Mark Zuckerberg's lofty AI goals, Meta disclosed a new stock options plan with the potential for senior staff to earn hundreds of millions of dollars if the company's share...

Pen Sangraksawong/E+ via Getty Images The Utilities sector has been the best among the 11 S&P 500 sectors, other than Energy, this month so far. The rally comes as Treasury yields have climbed, an indication that risk-off is the primary factor (rather than a comparative yield situation). Zoom out, and we find that Utilities has outperformed the S&P 500 by about eight percentage points YoY. Within the group, UGI Corporation ( UGI ) has been a somewhat steady total return stock. Now yielding 4.1% on a forward basis, the dividend aristocrat is humming along. I had a "B uy" rating on shares in April 2025 . Up 17% since then (dividends included), I reiterate a "B uy" rating. I’ll provide an updated valuation and a fresh look at the technicals. Utilities Best Sector In March (Away from Energy) Koyfin Charts Utilities Leading The SPX YoY StockCharts.com Back in February, UGI reported a mixed set of quarterly results. Q1 non-GAAP EPS of $1.26 was in line with the Wall Street consensus forecast, but $2.08 billion of revenue (up 2.5% from the same period a year ago) was a material $410 million miss. To be clear, there is light sell-side coverage of the stock, and the overall report was moderately encouraging. The company signaled some balance sheet strengthening while it builds out its natural gas portfolio. But shares plunged 6.3% in the session that followed—the worst reaction to earnings since May of 2024. Looking ahead to the May 6 Q2 report, the options market prices in a moderate 4.5% earnings-related stock price swing based on the at-the-money straddle expiring soonest after the release. Implied volatility is tame at 28%, while the $7.8 billion mid-cap Utility stock has a surprisingly elevated short interest of 4.72%. Looking back on the quarter that was, overall EBIT grew 5% YoY to $441 million , up from $420 million in the same quarter last year. Growth was fueled by significant progress in solid operating results across segments. Specifically, while GAAP diluted EPS...

Artemis II crew commander Reid Wiseman, center, speaks as mission specialist Jeremy Hansen, from left, mission specialist Christina Koch and pilot Victor Glover look on after arriving at the Kennedy Space Center in Cape Canaveral, Florida on March 27.