GummyBone/iStock Editorial via Getty Images There are seasons in the market where I've noticed good (even great) earnings don't push stocks continually higher. Micron Technology, Inc. ( MU ) is a really good recent example with its massive and historic quarter and guide. Yet, it's down nearly 13% since then. But NVIDIA Corporation ( NVDA ) is also a good candidate for great earnings, but not great stock performance. In the past, I've looked at it simply: the market has reached its peak for rewarding good fundamentals. But I would still scratch my head as to "why now?" It wasn't until I realized fundamentals don't drive markets; sentiment, and more specifically, mass market human psychology, does. It turns out sentiment leads and fundamentals lag. Furthermore, it explains these seemingly seasonal times when the markets just "go down to go down" or, more directly, "go down on good news." There are narratives trying to explain the stock performance away, but they fall flat when scrutinized. Trying to find the needle of a bearish point in a haystack of great business fundamentals is a wasted effort because it leads nowhere; it merely scratches an intellectual itch while your long position sees profits erode. At the end of the day, I don't care about the reason per se as much as I care about whether my trades and investments are profitable and getting more profitable. After a life's worth of watching the markets and 12 years writing about them, I've realized the simple truth: the only thing that matters is what the share price says. It doesn't matter if I think the market is "wrong," the number didn't change. I can either find the truth of how the stock price got to where it is, or I can remain arrogant and say, "I know I'm right; everyone else (read: the market) is wrong." This article can serve as an example of how to either fight against the forces of the market or take the first step in understanding how to align yourself and your thinking with the market's mind to k...

Nvidia: The Market Is Wrong; It Has To Be (NASDAQ:NVDA) seekingalpha.com

格隆汇3月24日｜花旗将AT&T的目标价从29美元上调至31.5美元，维持“买入”评级。(格隆汇)

PM Images/DigitalVision via Getty Images Co-authored by Relative Value. Overview When market conditions show increased uncertainty and the associated high volatility, we tend to look for safer trading/investment ideas. Pair trades among similar securities of the same issuer are a prime example of such an approach, as they offer virtually no credit risk. With this short article, we'll have a look at Annaly Capital Management ( NLY ) and a pair trade opportunity, represented by its preferred stocks. The Series G preferred stock of the company ( NLY.PR.G ) has been overvalued compared to the other floating rate preferreds of the company. Now, with the falling equity market and the rising benchmark yields, we see an increased probability for a widening of the credit spreads and a potential for NLY-G to be fairly priced to its brothers. Company basics and performance Annaly Capital Management is the largest, by market cap, mortgage real estate trust in the US. As of the end of 2025, the company has approximately a fifth of its capital allocated to mortgage servicing rights, another fifth to residential credit, and the remaining large part to agency MBS. NLY capital allocation (annaly.com) As Annaly is investing in the agency MBS with way higher leverage than the other two main investment interests it has, the assets it holds in AMBS represent close to 90% of the whole investment portfolio: Annaly Capital portfolio (annaly.com) An upshifting yield environment is beneficial for the MSR portfolio, as it tends to increase its book value and also makes the prepayment less appealing. These, however, represent less than 10% of Anally Capital Management's investment portfolio. The by far largest chunk, the agency MBS, are long-duration fixed-rate securities: MBS types (annaly.com) Being fixed-income vehicles, their valuation is inversely correlated with the shifts of their benchmark yields, so a rise in the long-term treasuries is bad news for the largest part of Annaly's portfo...

博通似乎正通过与Carahsoft科技公司携手，获得美国国防信息系统局一份为期五年、价值9.7亿美元的协议，从而扩大其在政府基础设施领域的业务版图。该合同旨在简化和整合多个国防部机构的软件采购流程，为私有云基础设施、安全及相关解决方案引入标准化定价并提高成本透明度。其范围涵盖国防信息系统局、第四 estate 机构、美国空军、美国太空军以及各作战司令部等关键实体，表明其朝着集中化、更高效的IT采购方向迈出了更广泛的一步。 该协议的核心是VMware Cloud Foundation，它作为一个统一的私有云平台，能够在单一环境中支持传统、云原生以及AI工作负载。该平台通过其嵌入式服务集成了Kubernetes能力，使各机构能够同时运行容器化应用和虚拟化应用，同时其Private AI服务旨在增强安全性并简化部署。该合同的架构可能使各机构能够实现数据中心运营的现代化，加速零信任架构的实施，并在一个统一的采购框架下，将安全、实时的智能能力扩展到战术环境。 博通和Carahsoft表示，过渡到这种现代私有云架构有望提高效率，其内部分析表明，与传统三层架构和原生公有云设置相比，可能实现成本降低。该协议还包括其他解决方案，如VMware vDefend、Avi负载均衡器，以及Clarity和Rally等产品组合管理工具，此外还包含专业服务和旨在简化部署的标准化安全实施指南。总体而言，这笔交易可能使博通在政府数字化转型工作中发挥更大作用，特别是在各机构持续优先考虑可扩展云基础设施和安全AI部署的背景下。 责任编辑：张俊 SF065

AMD Is Rapidly Expanding into South Korea. Can That Move the Needle for AMD Stock? Barchart

AMD Is Rapidly Expanding into South Korea. Can That Move the Needle for AMD Stock? Barchart.com

AMD accelerates its expansion process into South Korea with negotiations underway for 10,000 MI355 AI accelerators.

AMD Is Rapidly Expanding into South Korea. Can That Move the Needle for AMD Stock? Yahoo Finance

GKV/iStock via Getty Images By Kyle Richards When assessing the financial health of the midstream space, leverage ratios remain a priority for investors. Over the past few years, MLPs and midstream corporations have used robust free cash flow and steady EBITDA growth to pay down debt and strengthen balance sheets. Read more about 2025 leverage ratios across the midstream space and why these metrics matter for investors. Midstream’s Current Leverage Ratios Are in Line With Targets A decade ago, it was fairly common for midstream companies to have leverage ratios (defined as net debt/adjusted EBITDA) around 5x. Today, most midstream names have target leverage ratios between 3x and 4x. The chart below shows year-end 2025 leverage ratios for all constituents in the Alerian MLP Infrastructure Index (AMZI) and the Alerian Midstream Energy Select Index (AMEI), excluding NextDecade ( NEXT ). Data largely reflects companies’ stated leverage, which could have some variations in the calculations. However, using company-reported metrics provides a cleaner comparison against companies’ leverage targets. It also appropriately accounts for specific capital structure treatments, such as hybrid notes. Some names include pro forma adjustments to prevent recent M&A timing, like Sunoco’s ( SUN ) Parkland acquisition , from distorting year-end figures. For companies that did not explicitly provide leverage, it was calculated using reported year-end net debt and full-year adjusted EBITDA. The average leverage among the names shown in the chart below is 3.8x. Of the companies shown with stated targets, the average leverage target is 3.7x. Most companies reported leverage within or near their target ranges. Looking across the sector, over two-thirds of midstream companies currently maintain leverage ratios at 4x or below, though there is some variation. Midstream Leverage Ratios Vary, With Canadian C-Corps at the Higher End The U.S. 1099 issuers shown in the chart are uniformly below 4x le...

The acquisition strengthens DeleteMe’s capabilities to reduce personal data exposure across open web, data brokers and social media platformsBOSTON, March 24, 2026 (GLOBE NEWSWIRE) -- DeleteMe, the leading platform for proactive privacy protection and personal data removal, today announced it has acquired Block Party, the social media privacy and safety tool that helps individuals and organizations secure their social media presence at scale. Block Party by DeleteMe helps organizations protect t

Micron 's (NASDAQ: MU) business model is improving. Here's what investors need to know. *Stock prices used were the afternoon prices of March 21, 2026. The video was published on March 23, 2026. Continue reading

Late-night hosts discussed Trump’s bluffing on Iran ‘talks’ and his callous reaction to Robert Mueller’s death Late-night hosts reacted to Donald Trump ’s tweet celebrating Robert Mueller’s death , his ICE intervention at chaotic airports and his bluffing on “talks” with Iran . Continue reading...

格隆汇3月24日｜美国折扣零售商Dollar General任命Ahold Delhaize集团资深人士Jerry "JJ" Fleeman Jr.接替Todd Vasos，出任公司首席执行官一职，自2027年1月1日起生效。现年52岁的Fleeman，已在总部位于荷兰的Ahold Delhaize工作了超过35年。该公司拥有包括Food Lion、Giant Food和Stop & Shop在内的多家美国连锁超市。

narvikk/iStock via Getty Images Shares of Vertical Aerospace ( EVTL ) are under pressure on Tuesday and dipped to a record low after the company issued a warning that it has “substantial doubt it can continue to conduct its normal business operations in the foreseeable future” without liquidating assets or restructuring its obligations. “Our limited cash and cash equivalents, recurring losses from operations, and dependency on raising additional capital indicate that a material uncertainty exists that may cast significant doubt regarding our ability to continue as a going concern,” the company said in a filing with the U.S. Securities and Exchange Commission. For 2025, Vertical Aerospace ( EVTL ) reported a net profit of £202.6M ($271.6M) for 2025, or £2.63 per share, but a loss of £0.57 per share ($0.76) on a diluted basis, missing expectations for a loss of £0.0075 ($0.01). Last year, Vertical ( EVTL ) reported a loss of £38.46 per diluted share. On its balance sheet, Vertical ( EVTL ) raised $175M in capital, ended the year with $93M in cash and cash equivalents, and anticipates approximately $23M in near-term receipts from R&D tax reliefs and another $5M in government grants and VAT. At the same time, Vertical ( EVTL ) expects to spend $195M in flight testing, certification, and manufacturing, an outflow that must be covered through either government grants, R&D tax relief, or additional funding. Operationally , Vertical ( EVTL ) is making solid progress towards its goal of achieving certification and scaling production of its electric vertical take-off and landing (eVTOL) aircraft. This includes the launch of Valo, its commercial eVTOL aircraft designed for 4-6 passengers, its battery pilot program line, and completed a third prototype to provide increased flight capacity. It also completed hover, vertical flight, and wingborne flight, including the first winged eVTOL flight in open European airspace and airport-to-airport flight at the Royal International Air ...

格隆汇3月24日｜一位以色列官员表示，以色列总理内塔尼亚胡要求亲信Ron Dermer关注美伊旨在结束战争的谈判动向，确保以色列的利益得到维护。这位官员表示，Dermer的重点在于确保伊朗的核计划被拆除，并收回和销毁其约440公斤(972磅)的高浓缩铀。这位官员还表示，以色列政府认为美国总统特朗普持有相同目标。Dermer曾任驻美大使，并在去年11月前担任以色列战略事务部部长，与特朗普政府多名成员关系密切，包括特朗普本人。此举表明内塔尼亚胡高度重视特朗普周一宣布的谈判，以色列政府也对美国可能达成不符合以色列利益的协议抱有一定警惕。

阿波罗资产管理公司仅向投资者支付其 150 亿美元私人信贷基金赎回申请的 45% 核心要点 阿波罗旗下规模 150 亿美元的私人信贷基金收到的赎回申请相当于其股份的 11.2%，是其 5% 季度上限的两倍多，公司将仅按申请金额的 45% 向投资者返还资金。 与包括 黑石 在内的竞争对手近期放宽赎回限制以满足投资者需求不同，阿波罗坚持执行 5% 的上限，并将这一限制定位为保护资产价值的措施。 尽管阿波罗试图通过强调向大型、稳定企业放贷来与其他私人信贷机构拉开差距，但软件行业仍是该基金的第一大配置板块，占其投资组合的 12.3%。 阿波罗资产管理公司 CEO Marc Rowan, 资产管理巨头阿波罗告知其旗舰私人信贷基金的投资者，本季度将把赎回额度限制在申请金额的不到一半，这一迹象再度显示该资产类别正面临压力。 在周一晚间提交给美国证券交易委员会的文件中，阿波罗债务解决方案商业开发公司表示，一季度收到的赎回申请占流通股份的 11.2%，远超该基金设定的 5% 季度赎回上限。 与其他部分私人信贷机构不同，阿波罗坚持执行 5% 的赎回上限。这一行业通行标准近期已被包括黑石在内的竞争对手放宽，以满足旗下基金投资者的需求。 该投资工具为非上市商业开发公司（BDC），预计将按比例向投资者返还约 7.3 亿美元资金，这意味着申请赎回的股东仅能拿到所申请资金的约 45%。截至 2 月 28 日，该基金净资产规模为 151 亿美元。 “今日的决定体现了我们持续致力于为基金股东创造长期价值，” 阿波罗表示，“作为长期的资本管理人，我们负有受托责任，以全体基金投资者的最佳利益为行事准则，平衡寻求流动性的股东与选择继续持有投资者的利益。” 阿波罗称，截至 2 月 28 日的过去三个月内，该基金每股净资产下跌 1.2%，但表现优于同期下跌 2.2% 的美国杠杆贷款指数。 此次赎回潮表明，阿波罗同样未能躲过困扰同行的投资者集中赎回现象。赎回潮的背后是市场对私人信贷投向软件企业贷款的担忧。阿波罗高管近期试图与其他机构划清界限，称公司通常向规模更大、经营更稳定的企业发放贷款。 公司数据显示，软件行业贷款占比达 12.3%，为阿波罗债务解决方案 BDC 的第一大投向行业。 责任编辑：郭明煜

格隆汇3月24日｜微软和英伟达宣布在核能领域开展人工智能合作，将开发核能许可与设计工具。

政府就新修訂《香港國安法》實施細則，繼續解說，強調警方不會隨便要求市民，在街上提供手機密碼，會先向法庭申請手令。又進一步交代合理辯解的定義。 《香港國安法》實施細則再有新修訂，包括訂明指明人士，須提供被檢取電子設備，例如手機的密碼等。在立法會一個委員會上，有議員關注相關執法細節。 民建聯選舉委員會界別議員葛珮帆稱：「在網上散播謠言指，就說以後警員就能隨便在街上，捉住市民截查他們，要求市民提供他們的智能電話密碼。」 保安局局長鄧炳強回應：「不會隨隨便便，一個警務人員在街上，叫你提供手機給密碼，這是假的。警務人員要給誓章，說服法庭法院法官，出一個手令給我們，才能拿手令去做。」 署理律政司司長張國鈞，以及保安局局長鄧炳強，會後繼續向記者解說。 被問到甚麼情況下，屬細則訂明的合理辯解，可拒絕提供密碼。傳媒可否以，保護消息來源等原因不配合，鄧炳強這樣舉例。 鄧炳強指出：「我們發覺他最後一次用是三年前，我們問這位人士，他稱不記得，這個可能是合理辯解，但原來剛剛才見到他用完，現在又說不記得，這個未必是合理辯解。一個人無論任何職業都好，他都需要守法，不能說你是特別一個職業，就可以不用守這個法，我的材料你不能看。」 不過細則同時訂明，指定情況，又屬合理懷疑下，警務人員毋須先取法庭手令，亦可行使權力。 署理律政司司長張國鈞表示：「例外情況就如，見到一個危害國家安全罪行，已經即將發生，很明顯出現的情況時，你是沒有一個合理時間去取得手令時，就可以行使這個權力，但當然接下來在法庭中，你需要和法官交代，所以我相信法官會作一個很好的司法把關。」 他強調修訂符合《基本法》及《國安法》的人權保障要求。

Tom Werner/DigitalVision via Getty Images Figma, Inc. ( FIG ) was once the hottest IPO in the market. However, excessive investor optimism combined with an overall bearish tone around software companies has pulled shares back well below the IPO level. I have closely followed Figma and its market dynamics, publishing my initial thoughts shortly after the IPO, as well as periodic quarterly updates. Maintaining a Hold rating on the stock has been the correct call and one that I have been consistent about. Seeking Alpha However, the ongoing pullback in shares has now reached a point where building a small position in the name is probably worth the risk. As discussed more below, the recent Q4 report was better than feared, and the stock actually reacted favorably post-earnings. The biggest challenge has been fighting the general negative investor sentiment across software companies - something that is not just FIG-specific. Data by YCharts Figma has quickly turned into a multi-product company with improving metrics. From a fundamental and operational standpoint, I believe there are many qualities investors should like. Of course, the story is not perfect, and the company continues to deal with some post-IPO mess. However, growth metrics have been strong, sentiment is negative, and valuation is cheap. In my opinion, this marks a potentially great entry point for someone with a contrarian viewpoint. Financial Update Figma's recent Q4 results were better than expected, with growth and guidance also coming in strong. During the quarter, revenue grew an impressive 40% YoY to $303.8 million, over $10 million above consensus estimates for ~$293.2 million. Given Figma's recent IPO status, investors will continue to look at revenue growth as the leading metric. Of course, there are several factors that go into this story, but at the heart of it, Figma is a growth company. Investors want to see growth rates beat guidance and expectations. Figma Figma Given the software subscriptio...

Legendary investor Warren Buffett took a controlling stake in Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) in 1965. It was a struggling textiles manufacturer back then, and after deciding the business was no longer viable, Buffett turned it into a holding company for his various investments. He served as the CEO of Berkshire until the end of 2025, when he stepped down and handed the reins to his chosen successor, Greg Abel. Berkshire stock delivered a compound annual return of 19.7% during Buffett's 60-year tenure, which would have been enough to turn an investment of just $500 back in 1965 into over $24.2 million at the end of 2025. The same investment in the S&P 500 would have grown to just $210,997 over the same period. Berkshire typically invests in companies with steady growth, reliable cash flows, and experienced management teams, and it aims to hold them for the long term -- which often means decades . As a result, Berkshire's portfolio managers never chase the latest stock market trends, not even those as powerful as artificial intelligence (AI). Continue reading

格隆汇3月24日｜伊朗革命卫队海军司令阿里雷扎·坦格西里在X上发帖称，集装箱货轮“塞伦号”因未遵守法律协议且缺乏通过霍尔木兹海峡的许可而被革命卫队海军驱逐。他表示，通过该航道必须与伊朗海事部门进行全面协调。

当地时间24日，总台记者获悉，当天闯入中国驻日本大使馆的日本陆上自卫队人员已被逮捕。日本警视厅通报称，该男子为隶属于陆上自卫队虾野驻屯地的三等陆尉村田见大（23岁），因涉嫌非法侵入建筑物被逮捕。目前，警视厅正在进一步调查其作案动机等情况。(央视新闻)

Source: Bloomberg, 0:00

格隆汇3月24日｜美股软件股集体暴跌，Atlassian跌8.6%、UiPath 跌8.5%、HubSpot跌7.9%、Intapp跌7.7%、Pegasystems跌6.6%、Zeta Global跌6.7%、GitLab 跌6%、甲骨文跌4.1%、微软跌2.7%。 此前，由于市场担忧人工智能(AI)带来的颠覆性影响，该板块一直表现低迷。此前报道称，亚马逊云服务部门正在开发AI工具，旨在实现销售及业务开发团队职能的自动化iShares科技软件板块ETF下跌3.9%，年内累计跌幅达到23%投资者纷纷抛售此类股票，担心新型AI工具会削减市场对传统软件产品的需求。

Apple Inc. introduced a new platform that helps businesses manage devices and reach customers, in part by making it easier to advertise on its Maps app. The offering — called Apple Business — lets users configure employee groups and device settings, the company said in a statement Tuesday . The free service will be available April 14 in more than 200 countries and regions, Apple said. “Apple Business is a significant leap forward in our decades-long commitment to helping companies of all sizes leverage the power of Apple products and services to run and grow,” Susan Prescott, vice president of enterprise and education marketing, said in the statement. The introduction is part of a push by the tech giant to generate more money from services. Though the company isn’t charging customers for Business, it’s meant to help spur spending on advertising — a growing focus for Apple. With the Maps ads, businesses will appear more prominently when Apple users search for relevant terms. The company plans to begin offering the option this summer in the US and Canada. Bloomberg News reported earlier this week that Apple was preparing to announce the Maps ads. Read More: Apple Is Set to Add Search Advertising to Maps in Services Push Apple Business also will help businesses reach customers through the Mail and Wallet apps and the Siri digital assistant, the company said. The Cupertino, California-based iPhone maker long offered a similar program called Apple Business Connect.

Flocks of Oriental storks gather to migrate north in the waters of Poyang Lake in Hukou county, Jiujiang, Jiangxi province, on March 13, 2026. Photo: VCG After more than two decades of debate, China has cleared the way for a massive water-control project on Poyang Lake, the country’s largest freshwater lake and a wetland of global ecological importance. The Poyang Lake Water Conservancy Project has been added to Jiangxi province’s 2026 roster of key construction projects, according to a recent notice from the provincial Development and Reform Commission. The listing is widely seen as the long-awaited green light for a plan first floated in 2002 and repeatedly challenged by conservationists, including 15 prominent academics and scientists who once filed a formal objection warning it could undermine protection efforts.

These Insider Trades Look Like Clear Signals—Until You Read the Fine Print MarketBeat

lyash01/iStock via Getty Images Shares linked to U.S. natural gas rose Tuesday, as the Iran war continues to disrupt supplies from the Middle East, including Venture Global ( VG ) up 7.6%, Diversified Energy ( DEC ) up 9.5%, Cheniere Energy ( LNG ) up 2.6%, NextDecade ( NEXT ) up 3.5%, Expand Energy ( EXE ) up 3.2%, Antero Resources ( AR ) up 2.3%, Coterra Energy ( CTRA ) up 3.3%, EQT ( EQT ) up 1.5%. QatarEnergy on ​Tuesday ‌ declared force ​majeure ​on some of ⁠its ​long-term LNG supply ​contracts, ​with counterparties including ‌customers ⁠in Italy, Belgium, ​South ​Korea, ⁠and ​China, after Iranian attacks ‌knocked out 17% of Qatar's LNG export capacity, threatening supplies to Europe and Asia. "U.S. LNG exporters should benefit from the tighter macro, as well as increased diversification," Jefferies analyst Emma Schwartz said in a note, adding "Cheniere's ability to capitalize on the tightness despite low spot exposure, and VG's higher spot exposure is short-term advantageous." Meanwhile, U.S. natural gas futures wobbled between modest gains and losses Tuesday, as traders factored another bearish weather forecast against rising oil prices; front-month Nymex ( NG1:COM ) natural gas for April delivery recently traded up 0.8% to $2.914/MMBtu. ETFs: ( UNG ), ( BOIL ), ( KOLD ), ( UNL ), ( FCG ) More on Cheniere Energy and Venture Global Cheniere Energy: The Biggest Win Is Not Spot Price Arbitrage Cheniere Energy: LNG Demand, AI Power Needs And Buybacks Support Long-Term Upside Venture Global: Buy The Iran Spike