Thomas Barwick/DigitalVision via Getty Images Ten months have already passed since my initial coverage of Malibu Boat, Inc. ( MBUU ). It has already dropped by 17%, which justifies my hold rating before. Today, it sees more headwinds amid stubborn inflation and skyrocketing oil prices, which can squeeze its growth potential and margins further. Even so, fundamentals are still sound and intact, which assures of its sustainability and longevity amid its recent expansion. Valuation shows promise as it already appears reasonable after the recent selloff. Q2 2026: Resilience Despite Compressed Growth And Margins Luxury assets like premium recreational and fishing boats maintained stability with their resilient pricing power. Businesses like Malibu Boats, Inc. benefited from inflation-resistance of high-income and affluent buyers. However, cost pressures remained evident and intense amid macroeconomic volatility due to sticky inflation and new tariffs. This was evident in its most recent performance. In Q2 2026, its net sales amounted to $189M , down by 6% YoY from $200M. This was its weakest performance in four quarters considering the positive revenue growth in Q3 and Q4 2025 and Q1 2026. One aspect to consider was its lower sales or production volume across all segments. Its Malibu brand remained the largest and strongest component since it had the most manageable decrease in volume. This can tell us that while MBUU reduced its recreational boat production, the main brand remained the cornerstone. Segments (MBUU 10-Q ) On a lighter note, its net sales per unit amounted to $170,544, which was a 4% YoY increase. This shows its stronger pricing power despite softer macroeconomic conditions. But this should not be surprising since luxury assets are typically less sensitive to inflation and price changes. Buyers here have more buying power and focuses more on preference and value proposition than pricing. This can also tell us that the reduction in its production volume cou...

在乳腺癌这一最大实体瘤赛道上，诺华正试图重新掌握定义权。 3月20日，诺华宣布与Synnovation达成一项总额30亿美元的合作，其中包括20亿美元预付款及最高10亿美元的开发、监管与商业里程碑付款。交易对象是一款潜在同类最佳的PI3Kα抑制剂SNV4818。 值得注意的是，作为交易核心的SNV4818目前仍处于I/II期临床阶段，尚未披露任何关键有效临床数据，诺华不惜高价押注这款早期资产，本质上是一场精准布局，更是对乳腺癌赛道的再次夺权。 诺华此前拥有首款获批用于治疗乳腺癌的PI3Kα抑制剂Piqray，但严重的高血糖、皮疹等副作用限制了Piqray的市场。随着罗氏inavolisib上市后，诺华的先发优势再次被削弱。 在此背景下，新一代PI3Kα抑制剂成为开拓市场机会的关键路径，而SNV481是有望达成这一目标的关键一环。 01 诺华的自我迭代 PI3Kα并非一个新兴靶点。相反，它是乳腺癌领域最早被临床验证、也最具成药价值的核心驱动通路之一。 诺华本是这一赛道的开拓者，其旗下Piqray是全球首个在实体瘤中获批的PI3Kα抑制剂。但这款里程碑式药物，也率先撞上了难以绕过的安全性瓶颈。在支撑其获批上市的III期临床试验 SOLAR-1中，对于既往接受芳香化酶抑制剂（AI）治疗后进展的PIK3CA突变、HR+/HER2-晚期乳腺癌患者，Piqray 联合 Fulvestrant 治疗后，36.6%的患者出现了3级及以上高血糖。 安全性短板直接限制了其商业潜力。自2019年获批上市以来，Piqray销售额长期徘徊在5亿美元级别，始终未能真正释放靶点应有的市场空间。 问题的根源，在于分子本身的结构性缺陷。PI3Kα广泛表达于正常组织，传统泛PI3Kα抑制剂在抑制突变体的同时，无法避免对野生型PI3Kα的抑制，进而引发高血糖、皮疹等系统性代谢毒性，这也是该靶点多年难以突破的核心痛点。 痛点清晰，下一代药物的优化方向也随之明确：在保留对关键突变抑制活性的前提下，提升对突变体的选择性，减少对野生型的干扰，从而在疗效与安全性之间实现真正平衡。乳腺癌中最主要的驱动突变集中在H1047R、E545K、E542K等位点，也成为新一代分子设计的核心锚点。 诺华斥巨资引入的SNV4818，正是沿着这一路线诞生的潜在BIC分子。据Synnovation披露，SNV4818是一款泛突变选择...

shapecharge/E+ via Getty Images Trian & General Catalyst amended their agreement to purchase Janus Henderson ( JHG ) to $52 a share. Shares of Janus Henderson rose 3.3% in pre-market trading. The latest agreement represents a $3/shr increase from the original deal price of $49/shr, according to a statement on Tuesday. In addition, if the transaction is not completed by June 30 because of a delay in regulatory approvals, Janus ( JHG ) will be permitted to pay a $1.00 per shr dividend in each quarter between July 1 and the closing. The deal with Trian and General Catalyst is the only proposal that the special committee of Janus Henderson has determined to be actionable and able to be completed. The increased offer comes after Victory Capital Holdings ( VCTR ) submitted a revised proposal a week ago to acquire Janus Henderson ( JHG ) for total consideration of $56.84 per share in cash and stock. JHG stockholders will get $40.00 per share in cash and a fixed exchange ratio of 0.250 shares of Victory Capital common stock for each share they own. More on Janus Henderson Bidding War For Janus Henderson Points To More Upside (Upgrade) Teams handling 90% of Janus assets oppose Victory takeover - report Janus Henderson faces PM, client exodus in a Victory Capital deal - report Seeking Alpha’s Quant Rating on Janus Henderson Historical earnings data for Janus Henderson

Getty Images Introduction It’s been over a year since the last time I covered Netgear, Inc. ( NTGR ), and after the current pre-market pop, I wanted to take a look at how it performed since then and whether there is a reason to be positive. The operations are headed in the right direction, but I don’t think it is particularly appealing right now. I’d like to hear what the management has to say about the recent FCC decision. Briefly on Performance NTGR’s top line growth was nonexistent for the longest time, and only recently it saw some resurgence, only to stall midway through 2025. The push higher was entirely aided by the enterprise segment, or NETGEAR for Business, while the much larger consumer and service provider side of the business continued to experience structural declines, which almost offset any positives that the company saw from enterprise. Nevertheless, it still saw some growth at the end of 2025 vs. 2024 of around 4%. For a company that is trading at such a massive forward P/E ratio (181), I don’t think this is particularly exciting. Seeking Alpha On a positive note, NTGR’s margins began to improve at the beginning of the year 2025. It is still not profitable, but the jump in efficiency is evident. All thanks to the Enterprise business segment, which is not a surprise at all. Enterprise is where the money is at. Enterprises have deep pockets and are able to splurge on upgrades a lot more than consumers. Seeking Alpha Even as the memory cost increased, due to the current AI crazy in AI data center build out, it still managed to increase its margins throughout, due to a very healthy upgrade cycle by the enterprises. However, that may change in the near future if memory costs continue to increase at the rate they have in the past. So far, the Enterprise business has been a lot less sensitive due to pricing mix and dynamics, but there will be a time when even large companies might start to reconsider. For 2025, NTGR’s gross margins improved by a whopping ...

格隆汇3月24日｜据红星新闻，从中国航空工业集团成飞获悉，由航空工业成飞自主研制的长航时静音混合动力氢能源无人机完成首飞。该无人机兼具超长航时、静音、绿色环保等特点，成功实现了太阳能—氢能—锂电“三能一体”混合能源动力技术在低空飞行器上的应用。

Brown Advisory, an investment management company, released its “Brown Advisory Mid-Cap Growth Strategy” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Strategy lagged the Russell Midcap® Growth Index in the fourth quarter due to stock selection. The performance was in line with expectations for the full year. The firm believes […]

格隆汇3月24日｜本周五在白宫举行的“农业庆典“活动预计将包括有关生物燃料政策的公告，市场预计这些公告将是利好的。RCM Alternatives的Doug Bergman在一份报告中说：“环保局预计将于周五宣布最终的可再生燃料掺混量，生物燃料和农民团体已受邀参加该公告发布会，大多数人认为这对生物燃料行业和生产商来说将是好消息。“大豆在盘前交易中走低，但利好的可再生燃料掺混量规定可能会在未来提供支撑。交投最活跃的合约下跌0.6%，玉米上涨0.3%，小麦基本持平。

Practice Delivers Acceleration Path for Solving Complexity in $7 Trillion AI Market Based on 200+ Combined Years of Silicon-to-Services ExperiencePORTLAND, Ore. and NEW YORK, March 24, 2026 (GLOBE NEWSWIRE) -- TechArena announced the formation of a new Advisory practice today, adding former c-suite and executive operators from Intel, AWS, Microsoft, Micron, Flex, and Altera to TechArena's leadership. Advisors bring deep expertise across cloud, AI, data center, and edge computing, with a track re

国内配音圈正在打响一场“声音保卫战”。 今年3月起，边江工作室、729声工场、音熊联萌等头部机构旗下配音演员集体发布维权声明， 控诉部分机构及个人在未经授权的情况下，擅自使用他们的声音。 边江工作室旗下配音演员史泽鲲，更是直接委托律师正式提起诉讼，并留下邮箱收集侵权的作品。 除了机构旗下演员，业内知名配音演员也纷纷加入维权行列。 《甄嬛传》的配音演员季冠霖、《哪吒》的配音演员吕艳婷等人也相继发声明，直指未经授权的声音克隆与滥用行为。 这场配音圈的集体维权潮，也揭开了AI配音野蛮生长下的乱象。 事实上，配音圈已苦AI配音久矣。 早在2024年，互联网上就出现了不少AI克隆声音的案例。当时全国首例“AI声音侵权案”中，被告公司在未经授权的情况下，直接将配音师殷某某的声音放在APP上售卖使用。 法院最终判决被告未经原告许可使用其声音，构成侵权，并赔偿原告各项损失25万元。 即便如此，互联网上的AI配音侵权行为仍旧屡禁不止， 近期多位配音演员发现其声音被一些AI漫剧、短视频等使用，忍无可忍之下，众多业内人士掀起了这场声势浩大的集体维权行动。 那么，为何AI配音侵权现象屡禁不止？AI配音的边界在哪里？配音演员们又该如何维权？我们对话了多位配音演员及律师，试图找寻答案。 配音演员集体发声，打响“声音保卫战” 面对泛滥的AI配音侵权行为，配音演员们早已不堪其扰。 “冷不丁打开了一个视频，发现自己的声音，还不是自己录制的。”菲一般公司的配音演员聂凡直言。 她告诉我们，菲一般已经遇到过多起侵权案例，目前也在和一些侵权方打官司。 “非法克隆他人音色进行二次创作已经非常普遍，制作方完全不觉得此行为有什么不妥。”聂凡表示。 她注意到，目前AI配音侵权在多个平台均有传播，像一些公司和个人账号是侵权重灾区，这些内容有特定的受众，不会大面积播放，却始终持续侵害着配音演员的权益。 小红书上有网友讨论配音演员被融音 在社交媒体，也有不少网友讨论发现一些AI漫剧的配音酷似某些知名配音演员 ，就连《舌尖上的中国》旁白配音演员李立宏的声音，也经常被“盗用”在各类美食视频中，足见当下AI配音侵权行为的泛滥程度。 值得注意的是，AI配音二次创作也是侵权重灾区。 此前爆火的克隆孙燕姿声音进行翻唱的二创视频，就属于此类情况，只不过这类内容未涉及商业利益，因此未出现大规模追责。 个人配音演员U（化名）也表达了类似观...

SEALSQ Corp. ( LAES ), a subsidiary of WISeKey International Holding Ltd. ( WKEY ), said Tuesday it has signed a letter of intent to acquire 100% of Miraex SA, a Switzerland-based developer of photonics-based quantum interconnect solutions linking quantum processors and networks. The LOI provides for a 60-day exclusivity period during which the parties will conduct confirmatory due diligence and negotiate definitive transaction documents and is binding on the part of Miraex. The transaction is expected to be finalized by the end of June 2026. The deal would be carried out using the SEALSQ Quantum Fund as part of SEALSQ’s strategic investment program to build a fully integrated Quantum Vertical Stack. SEALSQ Corp. ( LAES ) shares fell 1.4% in premarket trading, while WISeKey International Holding Ltd. ( WKEY ) was trading 2.3% higher. More on SEALSQ Sealsq: The New Share Offering Will Strengthen The Balance Sheet Even More SEALSQ: A Hold Despite Post-Quantum Ambition Sealsq: The High-Growth Quantum Stock That The Market Is Overlooking SEALSQ to raise $125M in direct offering SEALSQ, Quobly halt talks on majority investment, explore minority stake

Citadel Securities’ Scott Rubner sees an “increasingly constructive” setup for April when it comes to stocks.

MINNETONKA, Minn., March 24, 2026 (GLOBE NEWSWIRE) -- Table Trac, Inc. (OTCQX: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos announced financial results for the year ended December 31, 2025.

Nvidia Stock (NVDA) vs. VGT ETF: Which AI Investment Is Safer in a Volatile Market? TipRanks

Wall Street is facing risks everywhere, from a war in the Middle East to worries about private credit and disruption from artificial intelligence. But none are deterring Barclays' bright outlook for equities. Strategist Venu Krishna raised his year-end S & P 500 target to 7,650 on Tuesday, from 7,400. His new forecast signals upside of more than 16% from Monday's close. "The macro backdrop has become more fragile … But we believe the U.S. continues to offer stronger nominal growth than other major economies and a secular growth engine in Technology that shows few signs of stopping," Krishna wrote to clients. "We are incrementally bullish on U.S. equities." .SPX YTD mountain S & P 500 in 2026 Krishna also hiked his S & P 500 earnings forecast to $321 from $305. That's the second highest among those included in the CNBC Market Strategist Survey . To be sure, the road ahead will likely be "bumpy until we turn a corner," the strategist added. Stocks have struggled lately as the U.S.-Iran war spiked oil prices, stoking fears of higher inflation and less consumer spending. The S & P 500 is riding a four-week losing streak and is down 4% in March. On top of that, concerns around private credit are mounting. Apollo Global gave investors just 45% of requested withdrawals from its $15 billion private credit fund. And companies across a host of sectors are dealing with disruption from AI. Still, while the "macro regime has turned messier," it's still not "hostile" for stocks, according to Krishna. "Our baseline is that concerns over AI disruption, private credit and geopolitics reflect real and material risks, but ones that will nonetheless fall short of derailing the current growth cycle at this point in time," he said.

Brown Advisory, an investment management company, released its “Brown Advisory Mid-Cap Growth Strategy” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Strategy lagged the Russell Midcap® Growth Index in the fourth quarter due to stock selection. The performance was in line with expectations for the full year. The firm believes […]

Broadcom (AVGO) Stock Scores $970M Pentagon-Linked Cloud Deal CoinCentral

Rivian shares are now on sale following the market correction.

Key PointsRivian stock just got a lot cheaper.

sturti/E+ via Getty Images Thesis Strategically, I think Sarepta Therapeutics, Inc.'s ( SRPT ) story is now going to be a fine balance between execution risk and long-term optionality. Elevidys is still the key value driver; it's still supported by strong three-year clinical data showing durable functional benefits, but a number of things have hurt the revenue predictability of the therapy. Elsewhere, the expanding siRNA pipeline across multiple rare diseases could introduce some significant upside, but, as you know, this comes with high upfront costs and clinical uncertainty. So 2025 was a bit of a transition year, with Sarepta moving from a profitable rare-disease commercial company to a now very capital-intensive, multi-platform biotech. The expectation from management is that today’s elevated spending should translate into future growth and diversification. However, I, personally, think we need to wait for some more positive signals among all the uncertainty. FY25 results As you know, Sarepta’s FY25 results showed us some strong top-line momentum but heavily pressured profitability. FY25 revenue jumped 16% to $2.2 billion, which was mainly driven by both their established PMO exon-skipping franchise and continued uptake of Elevidys. The latter here contributed about $900 million. However, we have to mention here that this growth masks underlying volatility in that 4Q25 revenue fell very sharply by almost 33% year-over-year to $442.9 million. Now, this was primarily because Sarepta paused Elevidys shipments to non-ambulatory patients in the U.S. What this shows us is just how dependent near-term performance is on regulatory scope and labelling decisions. A small bit of relief came from collaboration and manufacturing revenues, especially those tied to Roche, which helped offset some of that decline. Sarepta Therapeutics, Inc. As for profitability, the numbers here deteriorated quite significantly despite higher annual revenue. The company swung to a hefty GAAP ne...

格隆汇3月24日｜据英国《金融时报》，Ares Management限制其规模达107亿美元的Ares Strategic Income Fund的赎回。这家管理资产规模达6230亿美元的投资集团将该私募信贷基金的赎回上限设定为5%，此举是在第一季度赎回请求激增至11.6%之后做出的，彼时整个私募信贷资产类别都遭遇了更广泛的资金外流。Ares在今年第一季度收到了该基金12亿美元的赎回请求，该公司满足了其中5.24亿美元的请求。

知名科技史学家、金融史学家塞巴斯蒂安·马拉比至今对华为总部的参访记忆深刻。 3月初，他从伦敦辗转而来，在深圳华为园区坐上了一辆自动驾驶电动车。15分钟的行程里，他乘坐的车辆自动检测到停在前方的维修车，随即减速、等待，最后平稳切换到另一条车道行驶。 这个过程令马拉比感叹。以至于在几天后，他向时代周报记者分享这段体验时，依旧难掩兴奋：“整个避让路障的过程非常智能，而且车座椅还有按摩功能，这辆车是华为最令我惊喜的产品。” 在华为，马拉比还参观了医疗扫描、高铁巡检、矿业物流等场景的AI应用，并与任正非对谈。之后，马拉比对时代周报记者表示：“中国的人工智能已经处于非常有利的地位。” 61岁的马拉比身材清瘦，鬓角已有不少白发。他说话时语速不快，带着学者特有的沉稳。作为史学家、记者及作家，马拉比现任美国对外关系委员会保罗·沃尔克国际经济高级研究员，此前他曾担任《华盛顿邮报》专栏作家，并曾在《经济学人》杂志任职长达13年。他的文章曾两次入围新闻领域的“奥斯卡”——普利策奖。 此次到访中国，马拉比带来了自己的新书《哈萨比斯：谷歌AI之脑》，这也是DeepMind创始人德米斯·哈萨比斯全球首部官方授权传记。在与AI大师们的深度对话中，马拉比形成了自己对AI趋势的独到判断。 他认为，未来两三年AI Agent将迎来爆发，但真正的战场不是消费端的酷炫应用，而是“吃掉无聊的重复劳动”，例如填表格、转信息、整理数据，这些业务流程将被大规模自动化。而在这场巨变中，只有手握现金流的大厂才能笑到最后，普通人则需要重新思考：当机器越来越能“干活”，人类还能做什么？ 他的答案是：人际连接、目标设定，以及那些需要历经磨砺才能获得的深层满足。 △塞巴斯蒂安·马拉比：《哈萨比斯：谷歌AI之脑》作者，现任美国外交关系委员会保罗·沃尔克国际经济学高级研究员。图源：© Jeremy Sherlick 大厂竞争的关键，正从模型本身转向AI Agent 谈到华为参观的经历，马拉比依旧显得十分兴奋，语速随之加快了许多：“华为的消费电子业务可以对标苹果，云业务可以对标亚马逊，自动驾驶可以对标谷歌的Waymo。华为像是几家巨头的混合体，美国没有任何一家公司能对标华为。” 在马拉比看来，华为之所以能成长为这样的“混合体”，离不开其对研发的重金投入，而这正是中国科技巨头们的共同打法。 国内大厂在AI领域的投入几乎是不计成本的。时...

Brown Advisory, an investment management company, released its “Brown Advisory Mid-Cap Growth Strategy” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Strategy lagged the Russell Midcap® Growth Index in the fourth quarter due to stock selection. The performance was in line with expectations for the full year. The firm believes […]

财联社3月24日讯（记者 徐昊） 3月24日， 小米集团 发布2025年四季度及全年业绩公告。当期营收4,572.9亿元，同比增长25%；全年调整后净利润391.7亿元，较上年增长44%。其中，2025年度智能电动 汽车 及 AI 等创新业务收入1061亿元，同比增长223.8%。 财报显示，在进入 整车 领域二年后，小米智能电动汽车及AI等创新业务首次实现年度经营收益扭亏为盈，全年经营收益9亿元，其中2025年四季度实现经营收益11亿元，为全年业绩达标奠定基础。 “智能电动汽车及AI等创新业务收入首次突破千亿元大关，成为公司重要的收入贡献板块。”小米集团合伙人、集团总裁卢伟冰在小米集团业绩电话会上表示。 汽车业务端，2025年小米累计交付新车411,082辆，同比增长200.4%。具体收入结构中，2025年智能电动汽车业务实现收入1033亿元，整车业务占总收入的23%，含AI等创新业务的毛利率为24.3%，较上年同期提升5.8个百分点；2025年第四季度，汽车业务单季实现收入363亿元，含AI等创新业务的毛利率为22.7%，较上年同期提升2.3个百分点。 针对 内存 涨价问题，卢伟冰表示，依托于“人车家全生态”，可对冲手机端成本压力。“这一轮内存上涨的速度、力度比公司原来想象得要高，对小米经营是一个很大挑战。小米‘人车家全生态’走向均衡，可以让公司以更好的姿态应对内存涨价。”卢伟冰判断，上游成本上涨会加剧产业格局的重塑，一方面，有些公司甚至会被淘汰；另一方面也会倒逼公司更多创新。“我们尽量先顶住，如果实在顶不住了，我们也不可避免涨价。” 在业绩电话会上，小米集团副总裁、集团CFO林世伟对3月19日上市的新一代SU7市场表现进行了介绍。“34分钟锁单1.5万辆，3天首单破3万辆，试驾超5万人次。”小米集团林世伟表示，新一代SU7的市场数据优于第一代SU7车型。 按照2026年度设定的核心经营目标， 小米汽车 将全力冲刺全年55万辆交付目标。 单车 智能化程度无疑将成为这一目标实现的关键因素。据卢伟冰透露的信息，目前小米已推出了小米XLA认知大模型，其能力来源于小米自研的物理AI基座模型——MiMo-Embodied，在业内首次打通了“辅助驾驶”和“具身 机器人 ”两大任务，推动辅助驾驶从模仿迈向世界理解。 此外， 具身智能 亦开始在小米的汽车业务领域进行融合。今年3...

Welcome back to Bloomberg’s Defense Monitor , a weekly rundown on the companies, geopolitics and finances of the future battlefield. Sign up now if you’re not already on the list. In a surprise to no one, the Iran war remains the main topic of defense conversation at the moment. US President Donald Trump backed off on threats to bomb power plants in Iran, saying his administration was having productive talks with Tehran. About 30 minutes later, Iranian state media and government spokespeople said there were, in fact, no talks. How much more either side can escalate is a bit of an open question. The US seems to have run out of military targets to bomb — hence the power plants — and Iran has effectively closed the Strait of Hormuz , cutting off (and you’ve heard this many times by now) about 20% of the world’s oil. And interestingly, some parties decided to trade heavily in that oil just before Trump’s announcements about the US negotiating with Iran pushed prices down. Reports kicked around the idea of US troops taking Kharg Island , which is home to Iran’s main oil terminals but nowhere near the strait. US Marines, who do that sort of thing, should be in the region soon. In the meantime, Iran launched a couple of missiles at Diego Garcia , a joint UK-US base in the Indian Ocean about 4,000 kilometers (2,486 miles) from Iran that can host B-2 stealth bombers. The strike failed, but the point was made since that range is roughly twice as far as any purpose-built missile in Iran’s inventory . Surprise! The US has also lost at least 12 MQ-9 Reaper strike drones over Iran , underscoring that some air defenses have survived during the last three weeks. A stealthy F-35 jet also made an emergency landing after a mission over Iran, though US officials declined to say what happened to the fighter. And throughout all of this, the Iranian government shows no signs of falling , according to Western intelligence assessments. None of this is what might be considered good news, by ...

William_Potter/iStock via Getty Images Introduction Redwood Trust ( RWT ) is a real estate investment trust that specializes in the investment of mortgages, also known as an mREIT. Like many other mREITs, Redwood Trust has a common dividend with a high yield, but the company also offers a single preferred share (RWT.PA) and four different baby bonds. Redwood Trust’s baby bonds have been issued in rapid succession over the last couple of years, with the newest baby bond usually offering higher income than the previous baby bond. Back in November, I profiled the 9.125% coupon baby bond that matured in March 2030 ( RWTP ). Since then, the mREIT has issued another baby bond ( RWTQ ) that yields higher than the previous three. Unlike the past, where I advocate for the baby bond with the highest yield, concerns in the mortgage market and private credit are having me pump the brakes on Redwood Trust baby bonds, downgrading them to a hold. Microsoft Excel API Redwood Trust Earnings MREITs are highly leveraged businesses. They borrow money in the short term through a variety of external financing instruments and lend them out in the long term through the origination and/or acquisition of mostly fixed interest mortgages. The best metric to show how healthy this practice is for an mREIT is net interest income, which is interest income less interest expense. For Redwood Trust, interest income grew by $27 million in the fourth quarter to just under $327 million. Interest expense also grew, but by less than interest income at $16.5 million, ending the quarter at $301 million. These changes allowed net interest income to increase by nearly $11 million to just under $26 million for the fourth quarter. Despite the jump in net interest income, these levels are still below where the company was in a majority of the last three years. Company Financials Company Financials Redwood Trust Balance Sheet Analysis Redwood Trust’s balance sheet is straightforward with most of its assets compri...

格隆汇3月24日｜华能国际公告，2025年营业收入2292.88亿元，同比下降6.62%。净利润144.1亿元，同比增长42.17%。公司2025年利润分配预案是：按照每普通股人民币0.40元（含税）向股东派发2025年度的股息。

Art Of The Dream By Bas van Geffen, Senior Macro Strategist at Rabobank Trump’s 48-hour deadline turned into a weeklong one. Yesterday, the US president announced that he has “ instructed the department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period .” President Trump says he delayed the actions following “very good and productive conversations” with Iran, which he expects to continue throughout the week. However, reports about these talks are inconsistent at best. Iranian media reported that no such talks have taken place, to which Trump responded that he is not sure what they are talking about, adding that talks happened last night. Other media say that there has been some contact via backchannels or via third parties, but add that actual talks have not happened. Was it all a dream? Or is the US president simply unwilling to follow through on his threats? Iran called Trump’s bluff, threatening to retaliate against energy infrastructure and desalination plants in neighbouring countries. US allies may have convinced Trump that this would create a much bigger crisis in the region. So, perhaps Trump is just buying time for an alternative form of escalation. The new deadline coincides with the expected arrival of US marines in the region. *US MARINES SLATED TO ARRIVE IN MIDEAST FRIDAY: WSJ just as Trump's 5-day extension expires — zerohedge (@zerohedge) March 23, 2026 Either way, Trump’s change of tone boosted risk sentiment and supported equity portfolios, particularly of those who just so happened to place large orders ahead of the presidential social media post. But markets may be dreaming too. Further escalation has been averted for now, but don’t forget that Iran does not need to escalate. Iran continues to have full control over the Strait of Hormuz. As long as the regime is willing and able to execute pinpointed strikes, sailing through will be a prohibitively dangerous endeavour. And,...

PhonlamaiPhoto/iStock via Getty Images Energy Vault ( NRGV ) said Tuesday it acquired the McMurtre Battery Energy Storage System, a 175 MW battery energy storage project located in the ERCOT North market near Dallas , Texas, from Belltown Power, raising total MWs for owned assets acquired, under construction and in operation within the Asset Vault platform to 715 MW across all asset classes. The McMurtre BESS project is expected to receive notice to proceed in Q4 2026, with commercial operation targeted for December 2027; it features an executed Small Generator Interconnection Agreement and full site control, providing a clear and de-risked path to construction. Financial terms were not disclosed, but Energy Vault ( NRGV ) said it expects the project to deliver $15M-$20M in annual revenues over its technical life, representing $350M-$375M in total expected lifetime revenues. "This acquisition advances our near-term 1,500 MW BESS deployment roadmap and reflects the power of our three-asset-class strategy," Energy Vault ( NRGV ) Chairman and CEO Robert Piconi said. More on Energy Vault Holdings Energy Vault Holdings Q4 2025 Earnings Call Transcript Energy Vault Holdings Q4 2025 Earnings Call Presentation Energy Vault Holdings: Compelling Growth Story With Substantial Upside

格隆汇3月24日｜据36氪，腾讯近期密集挖来多位原字节跳动Seed团队核心技术骨干，相关人员均直接向腾讯首席AI科学家姚顺雨汇报。此次入职的核心人员包括原字节Seed视觉AI平台负责人肖学锋、Infra团队张弛、训练Infra组负责人黄启、RL算法组负责人袁钰峰等。其中肖学锋任腾讯新成立的AI Infra部助理负责人，协助姚顺雨管理部门，其余人员也分任腾讯大模型相关部门的核心岗位。

Justin Sullivan/Getty Images News Roku ( ROKU ) said Tuesday it has launched its affordable ad-free SVOD streaming service, Howdy, on Amazon's Prime Video ( AMZN ). The move marks Roku's first expansion of the service beyond its platform. Howdy subscription will be available on Prime Video in the U.S. for $2.99 per month. Howdy joins Prime Video’s extensive collection of more than 100 subscription options in the U.S. The Howdy platform offers thousands of titles from partners including Disney Entertainment, FilmRise, Lionsgate, Sony Pictures, and Warner Bros. Discovery, alongside select Roku Original titles. Source: Press Release More on Roku, Amazon Amazon May Have Just Solved Its Anthropic Problem With OpenAI And Nvidia Amazon: Deep Discount Makes Me Greedy Amazon Doesn't Deserve To Trade At These Prices Amazon AWS' Bahrain region 'disrupted' due to drone activity U.S. bans new foreign-made routers over security risks