Is May A Good Month For The Stock Market? Here are a few points to consider as Advanced Micro Devices and Palantir prepare to report.

Ashi Sae Yang/iStock via Getty Images By Christopher Gannatti, CFA For decades, portfolio construction has revolved around a simple constraint: you have 100% of a total allocation, and every new addition requires taking a portion from somewhere else. That constraint has shaped the dominance of 60/40 portfolios and the difficulty of incorporating alternatives without sacrificing expected return. Introducing WisdomTree’s Efficient Capital Framework To provide asset allocators with a way around this issue, WisdomTree’s Efficient Capital framework launched in 2018 with the debut of the WisdomTree U.S. Efficient Core Fund ( NTSX ). NTSX represented the practical implementation of an idea that had largely lived in institutional portfolios and academic journals for decades. By combining a 90% allocation to U.S. equities with a 60% exposure to U.S. Treasury futures, the strategy delivered approximately 150% notional exposure, effectively recreating a traditional 60/40 portfolio, doing so more efficiently, using less capital for the same notional exposure. The innovation wasn’t leverage for its own sake. It was about solving a structural inefficiency in portfolio construction, thereby freeing up capital without giving up core exposures. In doing so, NTSX marked a shift from thinking in terms of capital allocation to thinking in terms of exposure construction. This leads to a fundamentally different question: Not: what do we remove to add something new? But: what can we add once we separate capital from exposure? This is the second of three articles where we will introduce this efficient capital concept and then explore a particular option that could be added with the extra space. Filling the Gap: Why Managed Futures Belong in an Efficient Portfolio We believe that one of the most compelling uses of that newly created portfolio “space” could be managed futures, an asset class designed to behave differently when traditional assets struggle. At their core, managed futures strat...

Even though 62 is the earliest age to sign up for Social Security, retirees are often advised to wait longer to file. If you don't sit tight until full retirement age arrives, you'll reduce your monthly benefits on what's generally a permanent basis. If you don't have a lot of retirement savings , that could quickly become a problem. But that's not the only issue with claiming Social Security early. If you file for benefits before full retirement age but continue to work, your monthly checks could shrink. Image source: Getty Images. Continue reading

For fans of schadenfreude there was plenty to enjoy at the Cae Ras as Wrexham and Middlesbrough saw their dreams dashed. The latter fell short in their unlikely attempt to reach the Premier League automatically, while the former missed out on the playoffs thanks to this final day draw. Wrexham were aiming to secure sixth but finished two points behind Hull, who beat Norwich 2-1, to end their hopes of a fourth successive promotion. The odds were always stacked against Boro, with the point ensuring a two-legged clash with Southampton. Wrexham briefly led after Josh Windass and Sam Smith turned things around after Tommy Conway’s opener but David Strelec ensured neither team would be celebrating at full time. Continue reading...

China ordered companies in the country not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade, in a defiant move aimed at softening the impact of penalties. The refiners — including Hengli Petrochemical (Dalian) Refinery Co. which was sanctioned last month and several other privately-owned processors — had been facing asset freezes and transaction bans. The US measures unlawfully restrict normal trade with third countries and breach international norms, the country’s commerce ministry said in a statement on Saturday. In a rare move, it issued an order banning recognition, enforcement, and compliance with the sanctions aimed at the five companies. “The Chinese government has consistently opposed unilateral sanctions that lack authorization from the United Nations and a basis in international law,” the department said. Read More (April 27): US Sanctions on China Oil Giant Turn Up Heat for Teapot Refiners

Key PointsThe industrial sector is cyclical by nature.

Vladimir Razguliaev/iStock via Getty Images Introduction The WisdomTree Japan SmallCap Dividend Fund ETF ( DFJ ) has underperformed the S&P 500 since the outbreak of the war in Iran (which started shortly after my previous coverage of DFJ ), as the Japanese economy is seen as one of the losers in the current geopolitical context characterized by energy price volatility and supply uncertainty. Even so, DFJ has outperformed the S&P 500 on a year-to-date basis, benefiting from cheap valuations and reduced political uncertainty. For investors with a medium term horizon spanning 2027-2029 (when oil futures price in a substantial drop in crude prices), I believe DFJ remains an attractive investment opportunity, confirming my previous Buy rating. My bullish investment thesis for DFJ can be briefly summarized as: DFJ holdings trade at only 13.2x their trailing earnings, providing a wide margin of safety against elevated near-term recession risk. I expect DFJ to deliver a circa 9.55% total return over the long term, with a 2.5% current dividend yield complemented by sizable earnings growth, principally driven by retained earnings. DFJ's portfolio is well diversified across 796 individual holdings, exhibiting low top ten holdings concentration, which partially justifies the ETF's elevated expense ratio. ETF Strategy and Characteristics DFJ is a passive ETF investing in small cap Japanese dividend stocks (its benchmark is the WisdomTree Japan SmallCap Dividend Index ). The portfolio is quite diversified, covering 796 individual holdings , with a top ten holdings concentration of below 6%, notably lower than that of the S&P 500. As such, DFJ returns come with smaller company-specific idiosyncratic risk. For U.S. investors in particular, it is worth highlighting that DFJ does not hedge its JPY exposure. As such, the ETF may underperform during periods of JPY weakness. Since I believe the JPY is currently undervalued relative to the USD, I see this DFJ characteristic as quite pos...

Berkshire Hathaway's cash hoard climbed to a record high, while operating earnings surged in the conglomerate's first quarter without Warren Buffett as CEO.

Mark Zuckerberg held a company town hall on April 30 to address Meta employees directly about the layoffs. It was the first time he had spoken to staff about the cuts since Reuters first reported the plan in March. What he said did not reassure them. And what he did not say may have worried them ...

伯克希尔在2026年第一季度大幅加快权益证券减持步伐。北京时间5月2日晚间，伯克希尔·哈撒韦公司披露的2026年第一季度资产负债表显示，2026年一季度，公司买入权益证券159.38亿美元，卖出240.87亿美元，净卖出约81.5亿美元。相比之下，去年同期买入仅31.83亿美元，卖出46.77亿美元。 从投资组合结构看，银行、保险及金融类持仓公允价值从2025年末的1041.29亿美元降至845.76亿美元，降幅近两成。商业、工业及其他类别则从2025年末的986.95亿美元升至1124.20亿美元。(中证金牛座)

Jag_cz/iStock via Getty Images From Pizza Hut's sale to KFC's ' Taco Bell-ification ', I’ve pretty much gone around the block on Yum! Brands ( YUM ) from every angle you can think of. Even then, I've really only been able to spot one entry here. Seeking Alpha Not easy, right? I’d love to find more, but the stock almost always feels priced to perfection. And it's no coincidence. I think after McDonald's ( MCD ) this is the 'holy grail' of QSR asset-light stocks. Folks from SA agree with me, and Quant also flags this. Only Wall Street has been sitting at a 'Buy' rating for a long time here. And speaking of ratings, I think I've done well since the last article. Seeking Alpha The 'Hold' here delivered a total return of less than ~2%, while the S&P rose just over 3% in the same stretch. My rationale had shifted a bit since my November piece, mostly because I started leaning into a scenario without the Pizza Hut sale, even though I'm not ruling that out just yet. Even so, I don't regret the 'Buy' I slapped on there. Below ~$150 was still a good buying zone targeting $165 in the medium term, sitting in the low single digits on the average annual shareholder yield (which, by the way, could get fatter as they use the proceeds to pay shareholders). Here I want to do something different. Last time I went down the 'Taco Bell-ification' of KFC and the franchise angle in India and Brazil. This time around, a couple of other things caught my eye that are worth digging into. So, let's quickly go over earnings now before we get into that. A Peek at the Quarter Right off the bat, it's clear that the double-beat that Yum! Brands pulled out of the hat didn't impress the market that much. Revenue came in at $2.06 billion, up 15.7% year-over-year, with growth coming from both same-store sales and new unit openings. And this last driver was the strongest once again. Approximately 2,790 restaurants opened across the three largest brands in the last year alone, with KFC once again deliveri...

Denis Shevchuk/iStock via Getty Images This is my first coverage of Argan ( AGX ). I recently explored crypto miners pivoting to AI data centers, and I want to continue my research in the power infrastructure sector. In this article, I will discuss the macro situation, analyze their latest quarter, and give my opinion on the fair valuation. I am initiating my rating as a ''Strong Buy'' as I believe the current macro trends will positively impact the company, allowing it to soon grow into the current valuation. Introduction and Business Model Since this is my first coverage of the company, I'd like to start by briefly describing their business and the macro situation, on which I will later build my thesis. The main driver of Argan’s revenue generation is its Power Industry Services segment, led by their subsidiary, Gemma Power . They specialize in the engineering, design, and construction of gas fired power plants, and also renewable energy facilities like solar and biomass. Note that they also have Industrial and Telecommunications segments, but since revenues from the Power segment account for the majority of total revenue, this is what I will focus on. Such power infrastructure is exactly what is needed to support the current buildup of data centers. As I noted in my articles on crypto miners, data center vacancies are reaching record lows of 1.4% at year-end, according to CBRE. Therefore, we can assume demand for data centers is high, and thus, also the demand for power. As long as we have continued demand for AI compute and hyperscalers are increasing their AI CapEx spend, I expect Argan's backlog to keep increasing. The only question is how fast it will it keep increasing, and whether that is already priced into the stock. Let’s look at the backlog. The $2.9 Billion Backlog The backlog is definitely one of the most important pieces of evidence supporting the macro picture. In the latest quarter (Q4 2026) Argan reported $2.9 billion in project backlog, up from t...

Meta Platforms Inc. CEO Mark Zuckerberg told employees on Thursday that the company's aggressive artificial intelligence spending is directly contributing to planned layoffs. Meta's AI Investment Reshapes Workforce Priorities During a company town hall, Zuckerberg said Meta's expanding AI infrastructure budget is forcing difficult financial trade-offs between funding advanced compute systems and maintaining headcount, Reuters reported. Zuckerberg explained that Meta's two primary expenses are in

Google’s early investments in SpaceX and Anthropic look like some of the “most successful venture bets any public company has ever made,” one expert says.

mohd izzuan S&P 500 earnings accelerated this week, with over 178 companies from financial, healthcare, and industrial sectors reporting. Key companies included the "Magnificent Seven" giants such as Alphabet ( GOOG ), Amazon ( AMZN ), Apple ( AAPL ), Meta Platforms ( META ), and Microsoft ( MSFT ). Results from Coca-Cola ( KO ), Starbucks ( SBUX ), Eli Lilly ( LLY ), and Merck ( MRK ) helped assess corporate margins amid changing economic conditions. Earnings Roundup: Bottom Line: Out of the 178 companies reporting, 147 exceeded EPS expectations, 19 fell short, and 12 met estimates. Notably, 139 firms posted year-over-year earnings growth. Top Line: Performance remained robust on the revenue front, with 143 companies topping estimates while 35 missed. On a year-over-year basis, 157 of the companies reported revenue expansion. Seeking Alpha (Seeking Alpha) Let’s take a look at some of the companies that reported earnings this week: Microsoft ( MSFT ): Reported revenue of $ 82.89B and an EPS of $ 4.27 , both beating analyst estimates, while the company maintained its upbeat cloud growth guidance . Alphabet ( GOOG ): Revenue reached $ 109.9B with an EPS of $ 5.11 , beating expectations on both metrics and prompting the board to maintain its positive AI-driven outlook . Meta Platforms ( META ): Posted revenue of $ 56.31 B and an EPS of $ 10.44 , surpassing consensus estimates , though the stock faced pressure after management raised its capital expenditure guidance for the year. Apple ( AAPL ): Q2 revenue came in at $ 111.18 B with an EPS of $ 2.01 , beating estimates. iPhone revenue was $56.99B, marginally above estimates, and overall product revenue reached $80.21B, also slightly exceeding forecasts. Mac revenue was $8.4B, up 5.7% year-over-year, surpassing expectations as well. Amazon ( AMZN ): Q1 reported revenue of $ 181.52 B and an EPS of $ 2.78 , both significant beats driven by AWS acceleration. It anticipates Q2 revenue between $194.0B and $199.0B, surpassing ...

Richard Drury/DigitalVision via Getty Images I was a huge JPMorgan Equity Premium ETF ( JEPI ) fan and I am still a shareholder but at the end of the day the data is the data. Despite there being $45.61 billion in assets under management (AUM) JEPI has underperformed the market and its peer group in both the past year and the past 2-years. While some investors like the stability that the brand recognition of JPMorgan Asset Management brings or how appealing the 8.29% yield looks JEPI hasn’t been able to get out of its own way. I broke down the numbers and compared JEPI to the State Street SPDR S&P 500 ETF Trust ( SPY ) as the baseline then the Goldman Sachs S&P 500 Premium Income ETF ( GPIX ), NEOS S&P 500 High Income ETF ( SPYI ), and the Global X S&P 500 Covered Call ETF ( XYLD ) and the results confirmed what I have been saying since the middle of 2025. JEPI has lost a step and is not performing how it did when it became a household name in the income producing space. I am still holding my JEPI for diversification but I haven’t added to JEPI in over a year as my capital that’s been earmarked for this space has been going towards its competitors. There's also a structural piece to the underperformance that I want to address upfront. JEPI is built around a defensive equity profile and that means the fund is meaningfully underweight Mega-cap Tech and Growth compared to a cap-weighted S&P 500. In a year where AI capex and the Magnificent 7 are responsible for roughly 80% of the index's gains the math doesn't work in JEPI's favor. The peer group I am comparing JEPI to in this article tells a similar story but for a different reason. GPIX and SPYI are more "offensive" in their construction because they hold a closer approximation of the cap-weighted S&P 500 which means their underlying equity sleeve is participating in the AI trade in a way that JEPI's lower volatility universe simply isn't designed to capture. So before I get into the option overlay mechanics or the i...

A still from Netflix's 'Beef.' Courtesy: Netflix In the new season of the Netflix comedy-drama, "Beef," Ashley, played by Cailee Spaeny, lands in the hospital due to an ovarian cyst. The waiting area is bleak, with gray decor and patients who look like they've been stranded there for years. Ashley's partner, Austin, played by Charles Melton, returns from the reception desk with some bad news: "You have a super high deductible — $5,000," Austin says. "Oh wow. We can deduct $5,000?" Ashley says. "What if it costs less? Do they give us the difference?" "It's kind of the opposite," Austin replies. That's correct — your deductible is the amount you need to pay before your health insurance coverage kicks in. But the Emmy-winning series' second season, which launched April 16, highlights a common confusion. Just over 1 in 4 Gen Z adults could correctly identify the insurance term "deductible," according to a 2024 survey from the National Association of Insurance Commissioners. Read more CNBC personal finance coverage Treasury announces new Series I bond rate of 4.26% for the next six months Social Security benefits can be reduced for retirees who work. How that may change Fed keeps interest rates unchanged in April: What that means for you Wealth, millionaire tax push spreads to more states, but trend presents a 'challenge': Expert CNBC's Financial Advisor 100: Best financial advisors, top firms ranked "Proponents argue that deductibles make people more careful consumers of health care, by avoiding unnecessary care," said Miriam Straus, associate director at the Center for Health Law and Policy at the O'Neill Institute at Georgetown Law. "However, many consumers may not realize that, with a high-deductible plan, they can face thousands of dollars in health care costs," Straus said. Research shows that unaffordable deductibles can also worsen health outcomes, Straus added. For example, she said, "among cancer patients, high-deductible health plan coverage is associated with...

荃灣有住宅大廈遭到連環爆竊，兩個單位共損失約6,000元現金，警方拘捕兩名內地人。 事發地點是路德圍昌華大廈，外牆搭建棚架與棚網，正進行大維修工程。 警方上周二接報，有單位被爆竊，追查並翻看閉路電視，鎖定一男一女，昨日在打鼓嶺和落馬洲採取行動，拘捕52歲男子及45歲女子，都是內地人。 警方相信，男賊人假扮維修工人攀爬上棚架，撬開窗花進入屋內無人的單位爆竊，女賊人就負責把風。兩人正被扣查。

Thyssenkrupp AG said it and Jindal Steel International agreed to pause talks about the Indian company acquiring a stake in its steel unit. “The original assumptions and prerequisites for a potential sale of Thyssenkrupp Steel have significantly changed in recent months,” the German company said in a statement on Saturday. “Thyssenkrupp has made significant progress in realigning its steel segment,” it said, adding that the regulatory environment for the industry in Europe has become “fundamentally more favorable” and “offers the sector significant potential for stabilization and growth” despite the current surge in energy prices. Read more: Thyssenkrupp Said to Doubt Jindal Steel Deal Can Be Agreed

Ipswich have secured promotion back to the Premier League with victory against QPR at Portman Road. First-half goals from George Hirst after three minutes and Jaden Philogene six minutes eased any early nerves before Kasey McAteer’s strike on 85 minutes clinched the three points that rendered irrelevant the efforts of Millwall and Middlesbrough, who finished third and fifth respectively, and were hoping to force their way into second place. Kieran McKenna’s side entered the final day of the regular Championship season a point ahead of Millwall and two above Boro, knowing victory would guarantee the second automatic promotion place behind Coventry and an immediate return to the Premier League. Ipswich were relegated from the top flight last season but McKenna’s side have returned to the big time at the first attempt After he arrived in 2021, Ipswich achieved consecutive promotions under McKenna in 2022-23 and 2023-24 before relegation last season, now making it four consecutive seasons at different levels of the domestic pyramid. In 2024, McKenna signed a four-year contract. Ben Bloom’s report from Portman Road to follow Continue reading...

Philippe TURPIN/Photononstop via Getty Images Matthews International ( MATW ) delivered a pretty encouraging quarter. Memorialisation is handling industry volume pressures well achieving flat sales organically. Propelis is achieving synergies, which is asserting hundreds of millions in the MATW's value case. The Industrial Tech also had a divestiture in addition to pressures in delivering in the energy segment, but some dark clouds have parted there with legal progress against the Tesla ( TSLA ) injunction attempts, helping to assure some of their patents, and also a promising start to the new printer product, Axian , which is a newly developed industrial equipment that the management has been teasing in their earnings calls for a while. The product, which is just starting to get commercialised, is supposed to return some growth to the Industrial Tech segment, leveraging the existing relationships the company has with companies who want to print QR codes and other essential things onto packages and things like that ( it's an industrial printing solution ). We still feel good about MATW's value after some run-up. Results Brand solutions since the SGK divestiture are reported on a one-quarter lag. What matters is that the run rate for the business, Propelis, in which MATW still has a 40% stake, is around $130 million in EBITDA , including $25 million of the $60 million in identified synergies mainly related to an SAP ( SAP ) integration. Given the multiple of 7.3x as a reminder from our previous coverage, $60 million would be over a hundred million in additional margin for the overall MATW case, presented later. The company continues to see this as a prospect for disposal in the next 18-24 months, consistent with the activist pressure which is now on pause. Speaking of activist pressure, we got some positive verbiage in the earnings call. We continue to actively pursue and engage in strategic partnership discussions [Axian related] we are working on multiple partnersh...

A Quick Look at Today's Ratings for Apple(AAPL.US), With a Forecast Between $299.88 to $350 Moomoo

Source: Bloomberg, 0:00

Chip Somodevilla/Getty Images News Berkshire Hathaway ( BRK.A ) announced its Q1 2026 financials on Saturday, indicating a rise in its operating earnings following a sharp drop in the preceding quarter as its insurance-underwriting business offset a decline in insurance-investment income. In Q4 2025, Berkshire ( BRK.B ) posted $10.2B in operating earnings with a ~30% YoY drop as after-tax earnings from its insurance underwriting and insurance investment income fell ~54% YoY and 25% YoY, respectively. However, the Omaha, Nebraska-based company reported $11.3B in operating earnings with ~18% YoY growth for the latest quarter, which was the first under Greg Abel, who succeeded billionaire investor Warren Buffett as CEO in January. The rise in operating earnings reflected Berkshire’s ( BRK.B ) Insurance—underwriting business, which added $1.7B with a ~29% YoY growth, thanks mainly to a lack of significant catastrophe events during the quarter. However, its insurance-investment income slipped ~7% YoY to $2.7B, primarily due to a decline in interest income attributed to lower interest rates. Its railroad business, BNSF, which runs one of the largest railroad systems in North America, added $1.4B with a ~13% YoY rise driven by higher revenues and operational efficiencies. Despite a mixed performance, Berkshire's ( BRK.B ) manufacturing, service, and retailing operations added $3.2B with ~5% YoY growth. Berkshire Hathaway Energy Company generated $1.1B with a ~2% YoY rise, benefiting from higher earnings from the natural gas pipeline businesses and federal income tax credits, which offset lower earnings from U.S. utilities and other energy units. The conglomerate's financial position continued to strengthen as its cash, cash equivalents, and short-term securities stood at $397.4B as of March 31, implying a ~6% YoY growth amid nearly $8.1B in sales of equity securities on a net basis. More on Berkshire Hathaway Inc. Berkshire Hathaway At A Crossroads: No Buffett, Record Mark...

Daniel J. Starks, a director at Abbott Laboratories ( NYSE: ABT ), acquired 10,000 shares of the company’s common stock on April 27, 2026, for a total value of $926,537, bringing his total shares holding to 6.75M. Separately, EVP and CFO Philip P. Boudreau disclosed several share-related transactions dated April 23, 2026, including an open-market purchase of 2,200 shares at $91.50 each, held indirectly through his spouse. Separately, Boudreau reports 71,172 common shares held directly after these transactions. The purchases come at a notable time, with Abbott stock trading near its 52-week low of $, reflecting a decline of roughly 29% so far this year. S&P Global ( SPGI ) CEO Martina Cheung purchased 2,322 shares of the company’s stock on Wednesday, April 29, at an average price of $429.93 per share, amounting to a total investment of $998,297.46. Following the transaction, Cheung’s holdings increased to 27,518 shares, valued at approximately $11.83 million, marking a 9.22% rise in her ownership stake. Scott Tozier, a director at International Paper ( IP ), acquired 10,000 shares of the company on May 1, 2026, for an estimated $313,009. Following the transaction, he owns a total of 10,025 shares of International Paper. President and CEO Christopher L. Winfrey purchased a total of 6,936 Charter ( CHTR ) Class A shares through open-market transactions on April 28, 2026, including a separate entry for 3,468 shares held by his spouse, at a weighted average price of about $172, lifting his direct stake to 74,409 shares. In a separate filing, director Wade Davis acquired 5,728 shares on April 28, 2026, at $173.72 per share. Additionally, Nair Balan purchased 1,000 shares at $175.46, bringing his total stake to 12,029 shares. UnitedHealth Group ( UNH ) executive Patrick Hugh Conway, CEO of Optum, disclosed an open-market sale of 800 shares of the company’s common stock at $355.00 per share. Following the transaction, he directly owns 17,804.991 shares. Jacqueline P. Canney...

Exxon faced a couple of headwinds in the first quarter.

Key PointsSupply disruptions and timing impacted Exxon's first-quarter earnings.

USSS Chief Says Hilton Site Was 'Set Up Perfectly,' Critics Disagree Authored by Susan Crabtree via RealClearPolitics , The head of the U.S. Secret Service is defending security arrangements at last Saturday’s White House Correspondents’ Association dinner , saying he would not change a thing about the security plan, even as questions continue to swirl around the shooting and his leadership of the agency. “ The site was set up perfectly, I will tell you I would not change the site again, ” Secret Service Director Sean Curran told Fox News host Will Cain Thursday. Curran said one agent was shot at “point-blank range” by suspect Cole Tomas Allen as he dashed through a security checkpoint inside the Washington Hilton hotel, where President Donald Trump and thousands of guests had gathered for the annual dinner. “ Our officer heroically returned fire while being shot [at] point blank range in the chest with a shotgun ,” Curran asserted. “[The officer] was able to get off five shots. It’s great training.” The suspect was not struck by the agent’s return fire, Curran explained, alleging that Allen, 31, fell after hitting his knee and was subdued by other federal agents near the top of the stairs from the ballroom where Trump, the first lady, and top administration officials were dining. Curran tried to stress that the actual place where Allen fell and was subdued was nearly 120 yards away from the podium where Trump and Vice President JD Vance were seated, along with top officers of the White House Press Corps Association. Curran argued that 120 yards is “a long distance to get to.” But Allen was just yards away from a short stairwell leading to a jam-packed ballroom filled with 2,600 guests, including numerous congressional leaders and Cabinet officials. “ If he had gotten through those ballroom doors, it would have been a catastrophic ,” Rich Staropoli, a former Secret Service agent who protected four presidents and served as a senior official in the Department of Homel...

Sundry Photography/iStock Editorial via Getty Images Back in February I rated XPO, Inc. ( XPO ) a 'sell' after the stock had already run 40% from my prior ‘hold’ recommendation. Since then, the stock has continued to grind higher to the tune of 8%. With momentum on its side, I think XPO delivered another great quarter that showed just how well the company’s management is running the business. Over the past three years, XPO has improved its LTL adjusted operating ratio by 570bps in one of the worst freight cycles in recent memory. This, in my view, speaks more about the company’s ability to execute while most other carriers have been in more of a survival mode. While I would agree with the bulls that XPO deserves a premium valuation for its ability to navigate a tougher period well, I think at $217 a share, the risk/reward isn’t enticing enough to get involved. A look at Q1 '26 results When looking at the latest results for the quarter, XPO put up revenue growth of 7% compared to last year with revenue clocking in at $2.10 billion , $60 million above sell-side estimates . On EBITDA, margins were 100bps higher than last year at 15.2% with EPS coming in 38% higher than last year at $1.01, good for a 13 cent beat relative to analyst expectations. Seeking Alpha At 59% of revenues, the LTL segment drove the quarter with revenues growing 5% to $1.23 billion mostly as a result of yield improvement, rather than volume. Here, the operating ratio came in at 83.9%, 200bps better than last year and 100bps above normal Q1 seasonality. Third-party linehaul miles outsourced to external carriers were cut by 320bps year over year. Maintenance cost per mile fell 11%. These, combined with a damages claims ratio that fell below 0.2% led LTL EBITDA margins to expand by 230bps to 23.6%. Company Filings On the balance sheet, net leverage fell to 2.3x from 2.4x at year-end. With a credit rating of Ba3 and a B+ credit rating from Moody’s and S&P, respectively, the company’s debt is rated hig...

Micron Stock Is Up 70% in 2026. Here’s Why Analysts Still See More Upside Ahead TIKR.com