Michigan Synagogue Attacker Has Ties To Iranian-Backed Hezbollah Rocket Unit Authored by Steve Watson via Modernity.news, New revelations link the terrorist behind the Michigan synagogue rampage directly to Hezbollah operatives, underscoring the dangers of unchecked immigration from terror hotspots. America’s borders have been a sieve under leftist policies, allowing potential threats like Iranian...
Michigan Synagogue Attacker Has Ties To Iranian-Backed Hezbollah Rocket Unit Authored by Steve Watson via Modernity.news, New revelations link the terrorist behind the Michigan synagogue rampage directly to Hezbollah operatives, underscoring the dangers of unchecked immigration from terror hotspots. America’s borders have been a sieve under leftist policies, allowing potential threats like Iranian proxies to embed themselves in U.S. communities. The recent attack on a Michigan synagogue by Ayman Mohamad Ghazali, a Lebanese immigrant, highlights how foreign terror networks can strike from within, especially when activated by regimes like Iran’s. The revelations bolster concerns that this is part of a broader pattern of Iranian backed sleeper cells and individuals infiltrating the U.S. With family ties to Hezbollah’s rocket units, Ghazali’s actions expose the real cost of open-border globalism that prioritizes everything but American safety. 🚨 IT'S OFFICIAL: The Muslim who attacked the synagogue in Michigan has family ties to a HEZBOLLAH ROCKET UNIT — an Iranian-backed Muslim terror group that targets civilians INFURIATING that he is even in America. Ayman Mohamad Ghazali — "Sources say his brothers in Lebanon… pic.twitter.com/NNGnB4rMOd — Eric Daugherty (@EricLDaugh) March 15, 2026 The attack unfolded on Thursday, when Ghazali rammed his truck into Temple Israel in West Bloomfield Township, Michigan, a synagogue complex housing a preschool. Armed and carrying fireworks intended as explosives, he engaged in a shootout with security before inflicting a fatal gunshot wound on himself. Surveillance footage captured Ghazali purchasing over $2,000 worth of fireworks just days prior, a chilling prelude to his attempt to ignite terror in a place of worship. Ghazali, born in Lebanon, entered the U.S. legally in 2011 on a spousal visa and gained citizenship in 2016. He lived in Dearborn Heights, working at a local restaurant—seemingly integrated, but harboring connections that...
On February 17, 2026, Kintayl Capital LP disclosed a new position in Qorvo (QRVO +0.79%). What happened According to a February 17, 2026, SEC filing, Kintayl Capital LP established a new position in Qorvo by purchasing 124,268 shares. The estimated value of this acquisition was $10.50 million, calculated using average closing prices for the quarter. The quarter-end value of the stake matched the e...
On February 17, 2026, Kintayl Capital LP disclosed a new position in Qorvo (QRVO +0.79%). What happened According to a February 17, 2026, SEC filing, Kintayl Capital LP established a new position in Qorvo by purchasing 124,268 shares. The estimated value of this acquisition was $10.50 million, calculated using average closing prices for the quarter. The quarter-end value of the stake matched the estimated trade value, reflecting both the purchase activity and price fluctuations within the period. What else to know This was a new position for Kintayl Capital LP, representing 6.34% of its $165.60 million in reportable U.S. equity assets as of December 31, 2025. Top holdings after the filing: NYSE: WTRG: $14.43 million (8.7% of AUM) CRYPTO: SNV: $13.84 million (8.4% of AUM) NYSE: NSC: $10.56 million (6.4% of AUM) NASDAQ:QRVO: $10.50 million (6.3% of AUM) NYSEMKT: NGD: $9.90 million (6.0% of AUM) As of February 13, 2026, Qorvo shares were priced at $84.44, up 8.97% over the prior year, underperforming the S&P 500 by 2.82 percentage points. Company/Etf overview Metric Value Price (as of market close February 13, 2026) $84.44 Market capitalization $7.82 billion Revenue (TTM) $3.74 billion Net income (TTM) $340.62 million Company/Etf snapshot Qorvo offers a broad portfolio of RF solutions, power management ICs, ultra-wideband SoCs, MEMS sensors, and SiC products for wireless, wired, and power markets. The company generates revenue primarily through the sale of integrated circuits, modules, and semiconductor components to original equipment manufacturers and design firms across consumer, infrastructure, and defense sectors. Key customers include manufacturers of mobile devices, automotive systems, smart home technology, and defense and aerospace equipment. Qorvo is a leading provider of advanced semiconductor solutions, serving global markets in mobile, infrastructure, and defense applications. The company leverages its expertise in radio frequency and power management tech...
Bruce Bennett/Getty Images News KeyBanc said it views the changes announced by U.S. telecom Verizon ( VZ ) on Friday in its reporting structure as "investor unfriendly." The research firm said it sees VZ's updated disclosures as "practically useless" for modeling purposes. KeyBanc noted that the company provides wireless retail postpaid ARPA but no account metric, provides postpaid phone subscribe...
Bruce Bennett/Getty Images News KeyBanc said it views the changes announced by U.S. telecom Verizon ( VZ ) on Friday in its reporting structure as "investor unfriendly." The research firm said it sees VZ's updated disclosures as "practically useless" for modeling purposes. KeyBanc noted that the company provides wireless retail postpaid ARPA but no account metric, provides postpaid phone subscribers but not postpaid phone ARPU, and provides broadband subscribers but no ARPU. Therefore, it does not see any way to back into any sort of historical comparability. "We find the biggest issue here being 1) lack of transparency in disclosure and 2) lack of comparability to understand how the turnaround is progressing," KeyBanc said on Monday. KeyBanc thinks VZ has certainly "cherry-picked" a few good metrics while hiding the bad metrics. Verizon's disclosures highlighted total wireless and broadband revenue of $90.86B in 2025. KeyBanc views this as important, as the company is guiding to $93B (2-3% y/y) for the same in 2026. "This tells us: 1) Verizon's FiOS, wireless service revenue, or both are declining; or 2) Verizon's guidance is likely conservative," the research firm said. More on Verizon Chart Of The Day: Yes, Slow And Steady Can Still Win Verizon Communications Inc. (VZ) Presents at Deutsche Bank 34th Annual Media, Internet & Telecom Conference Transcript Verizon: Great Performance For The Stock And Even Better Through Options Communication services stocks with the highest dividend yields amid market volatility Verizon considered cutting back NFL sponsorship -- WSJ
The BBC has asked a US court to throw out Donald Trump’s $10bn (£7.5bn) lawsuit over the way a documentary edited one of his speeches, warning that proceeding with the case would have a “chilling effect” on its reporting on the president. In papers filed to the Florida court dealing with the case, the BBC’s US lawyers claimed Trump’s reputation had not been damaged by the documentary, given it air...
The BBC has asked a US court to throw out Donald Trump’s $10bn (£7.5bn) lawsuit over the way a documentary edited one of his speeches, warning that proceeding with the case would have a “chilling effect” on its reporting on the president. In papers filed to the Florida court dealing with the case, the BBC’s US lawyers claimed Trump’s reputation had not been damaged by the documentary, given it aired in the UK a week before his re-election. The broadcaster’s lawyers also reiterated that the Panorama documentary, Trump: a Second Chance, was simply not published in the US, including Florida, meaning the court had no jurisdiction to hear the case. They also cited other cases to argue that defendants should not have to deal with “expensive yet groundless litigation”, which restricted the ability to cover public figures. “All the more so when [the] plaintiff is among the most powerful and high-profile individuals in the world, on whose activities the BBC reports every day,” the BBC’s case states. “The chilling effect is clear. Federal courts in Florida therefore frequently dismiss defective defamation claims like this one at the pleading stage.” The corporation’s lawyers cited a recent Trump lawsuit against CNN, which was dismissed as “meritless”. The 2022 suit objected to the network’s use of the phrase “the big lie”, which it used to refer to the president’s claim that the 2020 election was “stolen”. The BBC has already apologised personally to Trump for a 12-second clip in the 2024 documentary, which spliced together two parts of the speech made on 6 January 2021. The clip suggested that Trump told the crowd: “We’re going to walk down to the Capitol and I’ll be there with you, and we fight. We fight like hell.” The words were taken from sections of his speech almost an hour apart. When the edit emerged at the end of last year, the BBC issued a retraction for “unintentionally” giving “the mistaken impression that President Trump had made a direct call for violent action...
USI Corp (ISIN: TW0001304004) gains investor focus as Taiwan's tech ecosystem rebounds. European investors eye exposure to critical semiconductor logistics and component distribution in Asia. USI Corp stock (ISIN: TW0001304004) is capturing renewed attention from English-speaking investors tracking exposure to Taiwan's resilient semiconductor and electronics supply chain. The company, listed on th...
USI Corp (ISIN: TW0001304004) gains investor focus as Taiwan's tech ecosystem rebounds. European investors eye exposure to critical semiconductor logistics and component distribution in Asia. USI Corp stock (ISIN: TW0001304004) is capturing renewed attention from English-speaking investors tracking exposure to Taiwan's resilient semiconductor and electronics supply chain. The company, listed on the Taiwan Stock Exchange, operates as a specialized distributor and logistics provider within the island's high-tech ecosystem, positioning itself at a critical juncture as semiconductor demand stabilizes and Asian technology manufacturing recovers from 2025's cyclical pressures. As of: 16.03.2026 Marcus Fielding, Senior Equity Analyst for Asian Tech Infrastructure | Reporting on supply-chain resilience, capital efficiency, and the investor case for Taiwan-listed semiconductor logistics providers in a recovering demand environment. Why Taiwan's Supply Chain Matters Now for European Investors Taiwan remains the world's manufacturing and design hub for semiconductors and advanced electronics. Every smartphone, server, automotive chip, and industrial controller passing through European markets either originates in Taiwan or depends critically on Taiwanese components and intermediary logistics. USI Corp's role as a distribution and supply-chain partner inside this ecosystem makes it a barometer for technology-sector health and component availability—two issues that have preoccupied European investors, automotive OEMs, and industrial manufacturers since the 2021-2022 chip shortage. The current environment in March 2026 reflects a stabilization phase. Memory-chip oversupply pressures that dominated 2024-2025 are moderating, demand for AI infrastructure is growing, and automotive electrification continues to absorb significant semiconductor volumes. For European investors, this signals improved pricing leverage, inventory normalization, and stronger cash generation for well-positio...
The artificial intelligence (AI) sector of the market has hit a bit of an investing lull. Investors aren't terribly excited about it, and some AI stocks are trading at recent low valuations. However, if you consider spending projections and what the actual AI hyperscalers are doing, it's clear that there's a mismatch between market sentiment and reality. This creates a rare buying opportunity for ...
The artificial intelligence (AI) sector of the market has hit a bit of an investing lull. Investors aren't terribly excited about it, and some AI stocks are trading at recent low valuations. However, if you consider spending projections and what the actual AI hyperscalers are doing, it's clear that there's a mismatch between market sentiment and reality. This creates a rare buying opportunity for one of the hottest investment sectors we've ever seen, and one of the chief players in this industry looks like a screaming deal. I think investors should consider loading up on Nvidia (NVDA +2.61%) stock before March ends, as it's trading at a valuation seldom seen since the AI revolution kicked off in 2023. Nvidia isn't going anywhere Nvidia's investment thesis is easily summarized in a few words: Nvidia makes the best AI computing units, and demand has proven insatiable. This thesis has played out over the past three years, but a caveat is starting to emerge in 2026: price. Nvidia's computing units are more expensive than those of its peers, and with AI hyperscalers essentially devoting all their resources to building data centers to handle AI workloads, there isn't much room left to grow. However, demand remains high, so the market is assuming that either Nvidia will need to cut prices or clients will turn to cheaper computing options. There's only one issue with that: Nvidia is in a league of its own. Although there is competition in the graphics processing units (GPUs) market, Nvidia's full-stack solution is much better than the competition's. While I think purpose-built AI chips (like those from Broadcom) will make a splash, they aren't flexible across workload types, and there will always be demand for GPU hardware. Expand NASDAQ : NVDA Nvidia Today's Change ( 2.61 %) $ 4.70 Current Price $ 184.95 Key Data Points Market Cap $4.4T Day's Range $ 182.87 - $ 185.05 52wk Range $ 86.62 - $ 212.19 Volume 3.9M Avg Vol 175M Gross Margin 71.07 % Dividend Yield 0.02 % The real...
Key Points Nike's growth rate showed improvement last quarter. The company, however, may have a tough road ahead due to challenging economic conditions. The stock has taken a beating over the years as investors adjust for the risk that it contains. 10 stocks we like better than Nike › Nike (NYSE: NKE) is a company that's facing significant adversity these days. It has made a change in CEO in an ef...
Key Points Nike's growth rate showed improvement last quarter. The company, however, may have a tough road ahead due to challenging economic conditions. The stock has taken a beating over the years as investors adjust for the risk that it contains. 10 stocks we like better than Nike › Nike (NYSE: NKE) is a company that's facing significant adversity these days. It has made a change in CEO in an effort to turn its business around, but that's been proving to be difficult. Meanwhile, the current economic conditions aren't helping matters as consumers are trading down to buy lower-priced products in an effort to save money, plus tariffs are also impacting the company's operations. Later this month, on March 31, Nike is set to release its third-quarter earnings numbers for fiscal 2026. Any sign of progress could help give the stock, which is down 24% over the past year, a much-needed boost. With so much bad news already factored into its share price, could buying the stock before earnings be a good move? Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Nike's growth rate is the big question mark heading into earnings The problem in recent years has been a simple one for Nike: consumers haven't been buying up its apparel and footwear products at the same pace and enthusiasm that they have in the past. While the company's growth rate did improve in its most recent quarter, it was also going up against some lighter comparables from the prior-year period. The overall trend has been a troubling one, with Nike struggling to keep its growth rate in positive territory. The silver lining for the company has been that in North America, its major market, sales rose by 9% in the most recent quarter and were up by 6% over the past six months. Unfortunately, that growth has not resulted in a better bottom line as ris...
Key Points Nvidia is defying the bear thesis. Nvidia expects its growh to acclerate next quarter. 10 stocks we like better than Nvidia › The artificial intelligence (AI) sector of the market has hit a bit of an investing lull. Investors aren't terribly excited about it, and some AI stocks are trading at recent low valuations. However, if you consider spending projections and what the actual AI hyp...
Key Points Nvidia is defying the bear thesis. Nvidia expects its growh to acclerate next quarter. 10 stocks we like better than Nvidia › The artificial intelligence (AI) sector of the market has hit a bit of an investing lull. Investors aren't terribly excited about it, and some AI stocks are trading at recent low valuations. However, if you consider spending projections and what the actual AI hyperscalers are doing, it's clear that there's a mismatch between market sentiment and reality. This creates a rare buying opportunity for one of the hottest investment sectors we've ever seen, and one of the chief players in this industry looks like a screaming deal. I think investors should consider loading up on Nvidia (NASDAQ: NVDA) stock before March ends, as it's trading at a valuation seldom seen since the AI revolution kicked off in 2023. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Nvidia isn't going anywhere Nvidia's investment thesis is easily summarized in a few words: Nvidia makes the best AI computing units, and demand has proven insatiable. This thesis has played out over the past three years, but a caveat is starting to emerge in 2026: price. Nvidia's computing units are more expensive than those of its peers, and with AI hyperscalers essentially devoting all their resources to building data centers to handle AI workloads, there isn't much room left to grow. However, demand remains high, so the market is assuming that either Nvidia will need to cut prices or clients will turn to cheaper computing options. There's only one issue with that: Nvidia is in a league of its own. Although there is competition in the graphics processing units (GPUs) market, Nvidia's full-stack solution is much better than the competition's. While I think purpose-built AI chips (like those from Broadcom) will make ...
Why did Brigitte Bardot, Farrah Fawcett and James Van Der Beek not warrant a mention when Michael Jackson did? The history of the Oscars tribute snubs says a lot about why some stars are gone but not forgotten The Oscars in memoriam segment is a firmly lodged Academy tradition – albeit one that is not as longstanding as you might think, having only been introduced in 1994. Almost as established a ...
Why did Brigitte Bardot, Farrah Fawcett and James Van Der Beek not warrant a mention when Michael Jackson did? The history of the Oscars tribute snubs says a lot about why some stars are gone but not forgotten The Oscars in memoriam segment is a firmly lodged Academy tradition – albeit one that is not as longstanding as you might think, having only been introduced in 1994. Almost as established a tradition is that of the outcry following a major film industry figure being omitted from the segment. This year seemed particularly notable in that regard, with Brigitte Bardot , TV stars James Van Der Beek and Malcolm-Jamal Warner, and the celebrated Bollywood actor Dharmendra among those left out, to varying levels of outrage on social media. Critics of these omissions will usually imply they are down to forgetfulness or neglect on the part of the Academy. Such claims, though, overlook the fact that the in memoriam process is a painstaking one, adjudicated on by a committee tasked with whittling a longlist of hundreds down to a final list of around 30. As Bruce Davis, former executive director of the Academy of Motion Picture Arts and Sciences told the LA Times in 2010 , the process “gets close to agonising by the end. You are dropping people who the public know. It’s just not comfortable.” Continue reading...
(RTTNews) - VinFast Auto Ltd. (VFS), Monday announced preliminary financial results for the fourth quarter, reporting a net loss of $1.401 billion, or $0.60 a share, compared to $1.218 billion, or $0.52 a share, last year. Operating loss rose to $1.156 billion from $949 million in the previous year. Total revenue for the quarter increased to $1.569 billion from $657 million in the prior year. EV d...
(RTTNews) - VinFast Auto Ltd. (VFS), Monday announced preliminary financial results for the fourth quarter, reporting a net loss of $1.401 billion, or $0.60 a share, compared to $1.218 billion, or $0.52 a share, last year. Operating loss rose to $1.156 billion from $949 million in the previous year. Total revenue for the quarter increased to $1.569 billion from $657 million in the prior year. EV deliveries were 86,557 in the fourth quarter of 2025, representing a 127 percent increase quarter-over-quarter and a 63 percent increase year-over-year. Currently, VFS is trading at $3.058, down 3.04 percent on the Nasdaq. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Companies should be actively prepared for cyberattacks in this threat environment, says Allie Mellen, a cyber analyst at Forrester Research and author of the new book, "Code War." Mellen discusses the rise in cyber spending, the use of AI, and what companies are likely to be targeted for. She joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech.” (Source: Bloomberg)
Companies should be actively prepared for cyberattacks in this threat environment, says Allie Mellen, a cyber analyst at Forrester Research and author of the new book, "Code War." Mellen discusses the rise in cyber spending, the use of AI, and what companies are likely to be targeted for. She joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech.” (Source: Bloomberg)
Nvidia has breathed new life into a hotly debated topic on Wall Street: paying executives in stock and how it impacts investors' ownership positions in companies. The AI powerhouse updated its methods alongside its recent quarterly results . With so many other important discussion points involving the world's most valuable company, accounting for stock-based compensation (SBC) was largely overlook...
Nvidia has breathed new life into a hotly debated topic on Wall Street: paying executives in stock and how it impacts investors' ownership positions in companies. The AI powerhouse updated its methods alongside its recent quarterly results . With so many other important discussion points involving the world's most valuable company, accounting for stock-based compensation (SBC) was largely overlooked at the time. But it matters because it does, ultimately, impact earnings. And, we believe as fundamental investors that earnings drive stock prices. Here's what CFO Colette Kress said on Nvidia's post-earnings conference call on Feb. 25: "Starting this quarter, we will be including stock-based compensation expense in our non-GAAP results. Stock-based compensation is a foundational component of our compensation program to attract and retain world-class talent." — Kress That may seem like some kind of bean-counter minutiae. But legendary investor Warren Buffett has long criticized the practice of not including SBC. In his 2018 letter to Berkshire Hathaway shareholders, Buffett wrote: "Managements sometimes assert that their company's stock-based compensation shouldn't be counted as an expense. (What else could it be – a gift from shareholders?)" — Buffett Before we dive into this, let's briefly explain the difference between GAAP and non-GAAP earnings, which we covered extensively last fall ; it's worth a read if you haven't already. A quick summary here: GAAP is short for generally accepted accounting principles. A not-for-profit group called the Financial Accounting Standards Board (FASB) issues the standards, and public companies in the U.S. need to adhere to GAAP rules when submitting their financial statements to the Securities and Exchange Commission. Non-GAAP, or "adjusted," results include any and all reported metrics that do not adhere to those principles. Management teams often provide these additional results on the belief that they provide a better understandin...
Democratic Sen. Elizabeth Warren is grilling several major employers, including Amazon (AMZN), Target (TGT), and UPS (UPS), about their recent spate of layoffs. In letters sent Sunday to the executives of Microsoft (MSFT), Amazon, Home Depot (HD), Meta (META), Nike (NKE), Verizon (VZ), Target, and UPS, Warren asked the companies to detail by March 30 how much of a tax cut they received in 2025 fol...
Democratic Sen. Elizabeth Warren is grilling several major employers, including Amazon (AMZN), Target (TGT), and UPS (UPS), about their recent spate of layoffs. In letters sent Sunday to the executives of Microsoft (MSFT), Amazon, Home Depot (HD), Meta (META), Nike (NKE), Verizon (VZ), Target, and UPS, Warren asked the companies to detail by March 30 how much of a tax cut they received in 2025 following President Trump's One Big Beautiful Bill Act, whether they anticipated any tariff refunds, and whether they made any contributions to Trump's projects, among other queries. Combined, the companies account for tens of thousands of lost positions in the past several months. Due to current economic conditions, "newly laid off workers could be forced to take lower-paying jobs — if they are able to find employment at all," Warren wrote. While the overall layoff rate remains near historically low levels, any worker cast out of a job right now has to contend with one of the most strained labor markets in years. That's thanks to few new jobs being added, few workers quitting their current positions, and fierce competition for entry-level jobs even among experienced professionals. Warren questioned why the companies laid off workers even after last summer's sweeping tax law bestowed new benefits for corporations. Sen. Elizabeth Warren (D-Mass.) speaks during the Borrowers Not Billionaires Rally to Defend the Consumer Financial Protection Bureau at Capitol Hill on Feb. 9, 2026, in Washington, D.C. (Jemal Countess/Getty Images for Protect Borrowers) · Jemal Countess via Getty Images Meta, for example, "paid an effective federal income tax rate of just over 3.5 percent in 2025, the lowest it has recorded since the company went public as Facebook in 2012," Matt Gardner at the Institute on Taxation and Economic Policy wrote in an analysis last month. And Reuters reported over the weekend that Meta is considering laying off up to 20% of its workforce. "The sequence of events behind...
Amazon passed the U.S. Postal Service as the largest domestic parcel carrier in 2025, anchoring a broader market shift away from traditional couriers, as it in-sourced a large amount of last-mile delivery work previously handled by UPS, according to data published Monday by ShipMatrix Inc. Amazon (NASDAQ: AMZN) handled 6.7 billion parcels last year, up 9.8% year over year, compared to an 8.3% decl...
Amazon passed the U.S. Postal Service as the largest domestic parcel carrier in 2025, anchoring a broader market shift away from traditional couriers, as it in-sourced a large amount of last-mile delivery work previously handled by UPS, according to data published Monday by ShipMatrix Inc. Amazon (NASDAQ: AMZN) handled 6.7 billion parcels last year, up 9.8% year over year, compared to an 8.3% decline for the U.S. Postal Service to 6.6 billion pieces. UPS (NYSE: UPS) also experienced an 8.3% volume decline at 4.4 billion deliveries. FedEx (NYSE: FDX) delivered 3.6 billion parcels in 2025, up 5.9%. Amazon’s parcel growth isn’t just fueled by its own online orders, but new contracts from third parties that don’t sell on the retailer’s platform. Overall, industry volume was essentially flat (+0.4%) at 23.9 billion packages. Volumes for alternative carriers grew 13% to 2.6 billion units, highlighting a continued market shift to logistics services from online retailers like Walmart and Target, and low-cost start-ups and other independent carriers such as UniUni, Veho, Gofo, Jitsu, SpeedX, OnTrac and Better Trucks, said ShipMatrix, a provider of carrier benchmarking software for parcel shippers. UPS and FedEx are making a strategic retreat from commodity last-mile delivery — short-distance transport of lightweight merchandise from e-commerce fulfillment centers to residential addresses — to focus on B2B logistics and high-value e-commerce shipments where they can command a premium for complex services. The companies have made clear that low rewards from local courier service don’t cover the high-cost structure associated with operating global integrated express delivery networks. Instead, they are consolidating ground shipping centers and reducing capital investments to focus on shipments that are heavier, cross multiple shipping zones, and in high-density routes that generate higher revenue per parcel. But UPS and FedEx face a challenge targeting a smaller base of B2C par...
In this article APO Follow your favorite stocks CREATE FREE ACCOUNT Apollo Global Management signage in New York on Dec. 5, 2023. Jeenah Moon | Bloomberg | Getty Images Apollo's John Zito had a blunt assessment of how private equity firms are valuing their software holdings as shares of comparable public tech companies have plunged: They're not, he said. Zito, co-president of the firm's giant asse...
In this article APO Follow your favorite stocks CREATE FREE ACCOUNT Apollo Global Management signage in New York on Dec. 5, 2023. Jeenah Moon | Bloomberg | Getty Images Apollo's John Zito had a blunt assessment of how private equity firms are valuing their software holdings as shares of comparable public tech companies have plunged: They're not, he said. Zito, co-president of the firm's giant asset management division and its head of credit , spoke to clients of investment bank UBS last month in remarks first published by the Wall Street Journal. CNBC confirmed Zito's comments. "I literally think all the marks are wrong," Zito told the clients. "I think private equity marks are wrong." For weeks, investors have punished the shares of public software companies on fears that the latest tools from Anthropic and OpenAI will make these companies obsolete. That has fed concerns that private credit lenders are sitting on stale valuations of their software loans, igniting a wave of redemptions as investors ask to withdraw funds from private credit vehicles. Retail investors have pulled about $10 billion from private credit funds in the first quarter, according to analysis by the Financial Times. Amid the stampede, an array of industry leaders have sought to calm markets by explaining that the underlying companies are still performing well. But sophisticated players including JPMorgan Chase are starting to act, reining in lending to private credit players by marking down the value of software loans . While Wall Street figures including Jeffrey Gundlach and Mohamed El-Erian have flagged risks in private credit, Zito is among the first from within the industry to candidly acknowledge weakness in the market. An Apollo spokesman declined to comment on Zito's remarks. They come amid a tough backdrop for alternative asset managers, who've seen their shares battered this year. Zito and other Apollo executives have sought to draw a distinction between Apollo and other players in pri...