格隆汇5月7日｜市场消息：以色列空袭了贝鲁特南郊达希耶（Dahieh）。这是停火协议生效以来，以色列国防军首次在该地区发动袭击。

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Getty Images Corning Incorporated ( GLW ) is in the news today because of a massive partnership announcement with Nvidia Corporation ( NVDA ). I wanted to go over the implications of the deal for Corning and what this could mean for Corning’s overall rally in this AI growth story. The Deal This was a massive deal for Corning. The two companies inked a long-term contract to “dramatically expand US-based manufacturing of the advanced optical connectivity solutions needed to power next-generation AI infrastructure.” This multiyear deal looks to expand connectivity capacity ten times by building three new manufacturing plants and creating over 3,000 high-paying jobs. The point is that AI data centers are shifting away from copper toward fiber optics, and Corning is positioning itself as a key supplier for Nvidia’s next-generation infrastructure. This in turn gives Corning more visible, longer-dated demand that is tied to AI buildouts and not just general industrial or consumer end markets. With this deal, the company is essentially becoming a lot more of an AI play than it was before. Even before, GLW was already riding the AI wave. So now it cements itself as the leader in providing the optics necessary for the U.S. to maintain its AI race lead. Clearly, the market got very excited. Most of the time, if any company comes out and says that they have a partnership inked with the AI darling NVDA, you can expect a massive rally in share price, just as we see with GLW, which saw its share price rise over 14% as of writing this article. In this partnership, NVDA also received warrants to purchase 15M GLW shares at an exercise price of $180 a share, as well as it received a pre-funded warrant to purchase up to 3M shares for $500m. The pre-funded part means that NVDA already paid Corning $500m cash upfront when the deal was inked, so if it wanted to exercise the $0.0001 warrants, it could do that since the strike price is so low. This will give NVDA 3M shares right now. The ot...

AMD's stock soars to a fresh record as AI demand drives up sales MSN

Apple Talks Just Changed Everything for Intel MarketBeat

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Shivon Zilis, an executive at Musk’s brain implant startup Neuralink, served on OpenAI’s board from 2020 to 2023 Shivon Zilis, a Neuralink executive and the mother of four of Elon Musk ’s children, took the stand on Wednesday as one of the most highly anticipated witnesses in Musk’s case against OpenAI. The ChatGPT maker has argued that, while Zilis worked with OpenAI between 2016 and 2023, she was also involved in a secret relationship with Musk, acting as an informant for him. Musk’s case against OpenAI alleges that the company’s CEO, Sam Altman , and president, Greg Brockman, co-founders of the company with Musk, broke a founding agreement when they restructured it from a non-profit to a for-profit enterprise. The Tesla CEO accuses Altman and Brockman of unjustly enriching themselves and wants both removed from their positions at the startup, one of the most valuable in the world. He is also seeking the undoing of the for-profit restructuring and $134bn in damages to be redistributed to OpenAI’s non-profit arm. Continue reading...

Shivon Zilis, an executive at Musk’s brain implant startup Neuralink, served on OpenAI’s board from 2020 to 2023

格隆汇5月7日｜美国中央司令部发文指出，美军于美东时间5月6日上午9点（北京时间21点）在阿曼湾向伊朗籍空载油轮“Hasna”号开火，致其方向舵损坏，无法驶往伊朗港口。美军称该船违反美国封锁措施，多次警告无效后，从F/A-18战机发射20毫米机炮予以处置。美国中央司令部称，美国对试图进出伊朗港口的船只的封锁仍在全面生效。美军继续以审慎和专业的方式采取行动，确保封锁得到遵守。

Thapana Onphalai/iStock via Getty Images Market Overview Risk assets preserved 2025's positive momentum in the early stages of 2026 before the war with Iran ultimately weighed on investor confidence. Throughout the period's volatility, however, the outperformance of smaller stocks relative to large ones was a constant. Though well off its early-quarter peak, the Russell 2000 Index managed to eke out a gain of 0.9% compared to the 4.3% decline of the S&P 500 Index. The Russell 2000 Value Index was even more robust, with a 5.0% advance. 1 Only the Beginning? The strong rally in smaller stocks this quarter—with growth lagging value across capitalizations—reminds us that an awakening beast can roar. Despite this recent show of strength, however, it's perhaps too soon to take a victory lap. Longer-term performance trends remain skewed toward large growth names, with the relative performance of small caps still near previous cyclical troughs. While encouraged by the three-year string of annual gains for smaller stocks and their resilience through the challenges of first quarter 2026, there's still plenty of catching up to do given the long run of large caps. 2 While the war with Iran may have prompted what appears to be the largest ever physical supply disruption to world oil markets and potentially stymied economic growth, which triggered higher inflation and dampened future earnings growth, we remain constructive on the outlook for small cap stocks. Although geopolitical disruptions may spur management to defer guidance on upcoming quarterly earnings calls, continued strong growth may be in prospect. Published forecasts reflect 73% earnings growth for the Russell 2000 in 2026 and 35% in 2027 compared to 19% and 17%, respectively, for the S&P 500. Small cap revenue growth, too, is forecast to improve over the next several quarters. 3 Meanwhile, higher energy prices—and the war itself—have created direct beneficiaries. Research indicates providers to oil servicers and che...

In the world of artificial intelligence (AI) infrastructure, few names are sparking debate as much as Poet Technologies (NASDAQ: POET) . The semiconductor company sits at the intersection of light-based computing and the hunger from data centers for faster, cooler data movement. So far in 2026, Poet's stock has benefited from enthusiasm among growth investors rotating away from big tech . However, its shares recently cratered due to some managerial setbacks. Poet's volatile price action has left investors wondering if the dip represents a bargain entry point into a company that's going to deliver tomorrow's game-changing technology, or a risky gamble on an unproven player. Continue reading

Earnings Call Insights: Assurant (AIZ) Q1 2026 Management View "The first quarter represents the strongest performance in Assurant's history, driven by record earnings in Global Lifestyle," said President, CEO & Director Keith Demmings. "We delivered 6% growth in adjusted EBITDA and 9% growth in adjusted EPS, both excluding reportable catastrophes," and "we leveraged the strength and flexibility of our capital position to accelerate share repurchases during the quarter given our compelling valuation." (President, CEO & Director Keith Demmings) "In Connected Living, earnings increased 18%," Demmings said, adding that Assurant "deepened our relationship" with T-Mobile following "T-Mobile's acquisition of U.S. Cellular," and that total devices protected "now stands at nearly 69 million devices globally." He also cited a new reverse logistics opportunity with "another large U.S. carrier," an expanded Xfinity Mobile plan with "lifetime device protection," and further Verizon prepaid launches, including "Straight Talk Protect." (President, CEO & Director Demmings) "First quarter adjusted EBITDA increased 20% or $39 million compared to last year" in Global Lifestyle, and results "included a $13 million real estate joint venture gain," CFO Keith Meier said. Meier also said Global Housing "first quarter adjusted EBITDA was $237 million, including $24 million of reportable catastrophes," and added, "our liquidity position at quarter end was $836 million." (Executive VP & CFO Keith Meier) Outlook "We now expect full year adjusted EBITDA and earnings per share to grow low single digits, both excluding cats," Meier said, describing this as "overcoming $94 million of lower favorable prior year reserve development." He added, "excluding the impact of prior year development, we expect high single-digit underlying growth" in both metrics, excluding catastrophes. (Executive VP & CFO Meier) "We're increasing our outlook for Lifestyle and now expect growth of approximately 10%," Meier ...

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Earnings Call Insights: Trimble (TRMB) Q1 2026 Management View “The Trimble team furthered the momentum of the last couple of years and delivered a great start to the year with top and bottom line results ahead of expectations.” (CEO, President & Director Robert Painter) “We are raising our guidance for the year.” (CEO Painter) Painter tied strategy to “Connect & Scale” and said, “We see tremendous opportunity as we bring AI to industry workflows and further establish Trimble as the intelligence and execution layer that reconciles our customers' digital and physical realities.” Painter highlighted AI monetization and model evolution, saying, “While we monetize our software and AI today primarily through named user licenses, we are architecting ourselves to scale hybrid value delivery at the intersection of licenses and consumption.” He pointed to existing consumption revenue, noting, “Trimble Transporeon transacts well over $100 million of revenue through tens of millions of annual transactions on our platform.” Painter announced M&A, saying, “On April 2, we announced the acquisition of Document Crunch,” and positioned it as “a new AI-powered risk management category within Trimble.” He added, “Early customer feedback has been exceptional.” “During the first quarter, we repurchased approximately $317 million of common stock,” and “retained a substantial $608 million under our current repurchase authorization.” (Executive VP & CFO Phillip Sawarynski) Outlook Q2 revenue guidance $950 million vs. $945,966,450 and Q2 EPS guidance $0.80 vs. $0.80. (Company guidance vs. analysts estimates) “The midpoint of our 2026 full year guidance for revenue is $3.875 billion, a $15 million increase from the prior guidance,” and “we are also increasing our EPS guidance to $3.55.” (CFO Sawarynski) “We expect the midpoint of ARR growth at 13% and EBITDA margins at 29.7% as our model delivers strong operating leverage while allowing us to reinvest for future growth.” (CFO Sawarynski) On ...

Earnings Call Insights: Kadant (KAI) Q1 2026 Management view Jeffrey Powell (President, CEO & Director) said Q1 was “a strong start to the year, highlighted by robust demand and solid earnings growth,” adding that “record bookings and record aftermarket parts revenue, along with solid execution in our operations drove healthy gross margin performance.” Powell emphasized mix and demand durability, noting “revenue was up 18% with aftermarket parts revenue, a record $209 million, representing 74% of our total revenue,” and framed macro risk as “the high level of uncertainty fueled by global trade challenges and the ongoing conflict in the Middle East.” Powell detailed segment performance, including that Flow Control “bookings increased 12% to a record $112 million,” and Industrial Processing delivered “record bookings of $145 million in the first quarter,” while Material Handling faced “capital equipment timing volatility” and “an unfavorable product mix led to downward pressure on gross margin.” Michael McKenney (Executive VP & CFO) said profitability outperformed expectations: “our adjusted EPS increased 14% to $2.84, which exceeded the high end of our guidance range by $0.43,” and attributed the variance: “$0.43 guidance beat was due to higher gross margins and lower operating expenses than anticipated.” Powell highlighted the completed deal and near-term accounting impact: “we closed on the previously announced acquisition of voestalpine BOHLER Profil, now called Kadant Profil,” and “in the short term… this acquisition will have a dilutive effect on our adjusted EPS.” Outlook McKenney updated full-year guidance to include Kadant Profil: “We are raising our revenue guidance for '26 to $1.178 billion to $1.203 billion… revised from our previous guidance of $1.116 billion to $1.185 billion.” McKenney revised adjusted EPS guidance: “we now expect adjusted EPS of $12.33 to $12.68 in '26… revised from our previous guidance of $12.53 to $12.88,” and said the change was ti...

Earnings Call Insights: TG Therapeutics (TGTX) Q1 2026 Management View "The first quarter of 2026 was, in my view, exceptional, not because of any single milestone, but because of the consistency and durability we're now seeing across the business." (Chairman, CEO & President Michael Weiss) "From a revenue standpoint, we delivered approximately $195 million in U.S. BRIUMVI net product revenue in quarter 1, ahead of our guidance of $185 million to $190 million." (CEO Weiss) "I'm pleased to report that based on current time lines, we expect top line data from this Phase III study in the coming weeks." (CEO Weiss) "We are pleased to report in April that the study is now fully enrolled, and we expect top line data around year-end or early next year, putting us on track for a potential 2028 launch of subcu BRIUMVI, assuming a positive outcome and regulatory approval." (CEO Weiss) "This quarter alone, we repurchased $100 million of our stock." (CEO Weiss) "As a result of the strong first quarter, we're raising full year U.S. revenue guidance to $885 million to $900 million, and we're providing Q2 guidance targeting approximately $220 million in U.S. BRIUMVI net revenue." (Chief Commercialization Officer Adam Waldman) "All that nets to net income for the quarter of $19.8 million or $0.12 per diluted share." (CFO Sean Power) Outlook "We're raising our full year total global revenue guidance to approximately $925 million." (CFO Power) "We continue to expect full year operating costs of approximately $350 million, excluding stock-based comp, plus approximately $100 million for subcutaneous manufacturing and secondary manufacturer start-up activities." (CFO Power) "Assuming a positive outcome and regulatory approval, we believe this positions us to launch the consolidated dosing schedule next year." (CEO Weiss) Compared with the prior quarter’s framing of ENHANCE timing and launch, management previously said, "We expect top line data midyear with the potential 2027 launch of t...

Win McNamee/Getty Images News Fannie Mae ( FNMA ) and Freddie Mac ( FMCC ) IPOs are totally at the discretion of President Donald Trump, the Federal Housing Finance Agency director Bill Pulte told CNBC News in an interview. "One of the things that we are laser-focused on is that he has all the options available to him," said Pulte when asked about the timing of the IPOs. "We have done a great job at stripping SG&A out of both Fannie and Freddie," he said. "These two companies are running like real companies now." "I know there are a lot of people who want to see it happen sooner or want to see it happen in a certain way. But it is all up to President Trump," said the FHFA director. With a view to making housing affordable in the U.S., Pulte had been working with homebuilders. He said his agency will soon have an announcement "with a couple of builders". "The punchline is that the Trump administration is very focused on Fannie and Freddie, and Fannie and Freddie provide a lot of liquidity to these homebuilders," he said in the interview. "So, we are really looking for engaged partners and people who are helping people get in homes at an affordable price point. Homebuilders have a real opportunity here. They have two million lots that are not being used that they can put on the ground," he noted. Top homebuilders include D.R. Horton ( DHI ) (+1.60% to $148.81 Wednesday afternoon), PulteGroup ( PHM ) (+2.04% to $120.38), Lennar ( LEN ) (+2.56% to $88.41), NVR ( NVR ) (+1.18% to $6,075.00), and Toll Brothers ( TOL ) (+2.35% to $140.50). FNMA was 0.25% higher at $8.08, while FMCC was +1.69% to $7.22. More on Fannie Mae, Freddie Mac Federal Home Loan Mortgage Corporation (FMCC) Q1 2026 Earnings Call Prepared Remarks Transcript Federal Home Loan Mortgage Corporation 2026 Q1 - Results - Earnings Call Presentation Federal National Mortgage Association (FNMA) Q1 2026 Earnings Call Prepared Remarks Transcript Fannie Mae downgraded at Wedbush after Q1 earnings over no IPO news ...

Photon-Photos Mining stocks staged a broad rally Wednesday, with a roster of gold and precious metals producers posting double-digit gains as stronger-than-expected earnings collided with a fresh jump in bullion prices. Gold’s spot price climbed 2.8% to $4,681.23 an ounce by early afternoon, extending its run as a macro anxiety barometer, even as it remains below its January peak of $5,608.35. Earnings winners lead the charge Among the biggest catalysts were earnings beats from SSR Mining ( SSRM ), IAMGOLD ( IAG ) and Pan American Silver ( PAAS ), all of which reported results that topped Wall Street expectations and helped anchor the rally. SSR Mining ( SSRM ) led the group, jumping 14.4% to $32.33 by 1 p.m. Eastern Time. IAMGOLD ( IAG ) rose 13.2% to $18.47, while Pan American Silver ( PAAS ) gained 11% to $56.08. The trio’s results reinforced a simple narrative investors have been waiting for: higher gold prices are finally flowing through to earnings in a meaningful way. Broad-based gains The rally extended well beyond the earnings names, suggesting a rising tide effect rather than a stock-picking exercise. NovaGold Resources ( NG ) climbed 14.3%, Sibanye Stillwater ( SBSW ) added 13.9% and Americas Gold and Silver ( USAS ) rose 13.6%. Impala Platinum ( IMPUY ) gained 11.3%, Harmony Gold ( HMY ) advanced 11% and DRDGOLD ( DRD ) rose 10.7%. Even smaller and more speculative names joined the move. Idaho Strategic Resources ( IDR ) climbed 10.9%, while Lithium Argentina ( LAR ) rose 10.5%, despite not being a pure gold play. Gold prices do some heavy lifting The sector’s momentum comes as gold continues to benefit from a mix of geopolitical tension, inflation concerns and shifting rate expectations. While the metal remains off its record high, the current price level still represents a historically elevated backdrop for producers. That dynamic is particularly powerful for miners, whose cost structures tend to be relatively fixed in the short term. When gold prices ...

Celtic could yet have another successful domestic season despite a rancorous and turbulent campaign. But is lots of change at the club inevitable even with success?

伊朗常驻联合国代表团当地时间5月6日表示，霍尔木兹海峡问题的唯一切实可行解决方案就是永久结束战争，解除海上封锁，恢复正常通行。代表团还表示，美国以“航行自由”为借口，在联合国安理会推进一项不完整且带有政治动机的决议草案，目的是推进其政治议程并合法化其非法行为，而非解决危机。美国和以色列2月28日对伊朗发动军事打击后，伊朗封锁了霍尔木兹海峡。美国自4月13日起对往来伊朗港口的船只实施封锁。目前，美伊谈判目前陷入僵局，霍尔木兹海峡通航持续受阻。 (央视新闻)

Richard Drury/DigitalVision via Getty Images YTD Asset Class Returns Diversification beyond US stocks and bonds is paying off. US stocks have earned 6% through 4/30/26 and US Bonds have eked out a 0.1% return. By contrast crude oil is up 113% and commodities are up 49%. Capital Spectator Diversification Benefits The target date fund ( TDF ) industry is mostly invested in US stocks and bonds, which are being outperformed so far this year by other asset classes. Consequently, diversified funds at all risk levels and ages are outperforming the TDF industry. Are your investments diversified? Target Date Solutions and S&P Economic indicators are flashing red while the stock market soars US stocks are up 30% for the year ending 4/30/26 and are forecast to continue rising. But the US economy is weak as revealed in economic indicators. Seeking Alpha and Capital Market Consultants Our debt has reached levels last seen after World War II Our individual share of our $39 Trillion debt (with a T) is $357,000 and growing about 5% per year. Debt-to-GDP has reached 122%, exceeding the 121% level reached after WWII. We owe a lot, but no one wants to pay. We’re handing the bill to future generations who will eventually refuse to pay, leading to the inflationary effects of monetization. TrendMarkets, DEbt Clock and Target Date Solutions Conclusion These are challenging times that warrant concern and protection. Venezuela’s stock market taught a lesson in 2016 when the Venezuelan stock market performed best in the world while its inflation skyrocketed, earning 114% versus 13% on the Dow. This event has direct application to the recent US stock market. Some believe that stocks protect against inflation, but stocks are actually not a good inflation hedge. As summarized in this JP Morgan article , the better inflation hedges are: 1)Commodities and gold 2) Core real asset alternatives: real estate, infrastructure and transport 3) Less-correlated hedge fund strategies (e.g., macro hedge fun...