RoschetzkyIstockPhoto/iStock via Getty Images Vertical Aerospace ( EVTL ) is close to securing more than $800 million in new funding as it works toward launching commercial operations, Sky News reported Sunday, citing people familiar with the matter. The New York-listed company is in advanced discussions with investors, with a deal that could involve multiple types of financing and may be announce...
RoschetzkyIstockPhoto/iStock via Getty Images Vertical Aerospace ( EVTL ) is close to securing more than $800 million in new funding as it works toward launching commercial operations, Sky News reported Sunday, citing people familiar with the matter. The New York-listed company is in advanced discussions with investors, with a deal that could involve multiple types of financing and may be announced soon. The funding is expected to strengthen its balance sheet as it prepares to begin production of its Valo passenger aircraft within about a year. Founded by entrepreneur Stephen Fitzpatrick, the Bristol-based startup went public in 2021 through a SPAC merger at a valuation of roughly $2 billion. Since then, development delays have required additional capital, including a $175 million raise last year backed by investors such as Mudrick Capital. Leadership includes chairman Domhnal Slattery and board member Jonathan Evans. The company has recently signaled improving momentum, citing renewed customer interest and progress in flight testing. Chief executive Stuart Simpson said the company is advancing key milestones and seeing stronger engagement from customers and partners, while shifting focus toward certification and scaling production. Vertical Aerospace ( EVTL ) has secured orders from operators in India and Monaco, and is targeting certification of its aircraft by 2028, with deliveries expected afterward. Its testing program is being overseen by U.K. aviation regulators. The company is also tightening cost controls as it ramps up investment in testing and manufacturing. It expects increased cash outflows over the next year as development accelerates. More on Vertical Aerospace Vertical Aerospace: Liquidity Crisis Deepens As Transition Delay Triggers Dilution Spiral Vertical Aerospace Ltd. 2025 Q4 - Results - Earnings Call Presentation Vertical Aerospace Ltd. (EVTL) Q4 2025 Earnings Call Transcript Vertical Aerospace shares set record low, reiterates "going concern” w...
Luis Alvarez/DigitalVision via Getty Images Perspective: Same Song, Different Verse U.S. equity markets ended 2025 by notching three straight years of double-digit gains, a feat last seen in the late 1990s. On trend with recent history, strong corporate profits and AI momentum powered through a softening labor market and noisy inflation signals. Positive benchmark returns were again attributable t...
Luis Alvarez/DigitalVision via Getty Images Perspective: Same Song, Different Verse U.S. equity markets ended 2025 by notching three straight years of double-digit gains, a feat last seen in the late 1990s. On trend with recent history, strong corporate profits and AI momentum powered through a softening labor market and noisy inflation signals. Positive benchmark returns were again attributable to relatively few companies, concentrated in mega-cap platforms and AI infrastructure beneficiaries, with modest index gains masking sharp reversals in momentum factors and retail-favorite stock baskets. Fund Performance The Virtus Zevenbergen Technology Fund returned 2.32% (Class INST) during the quarter, trailing the S&P North American Technology Sector Index's 3.39% return. Unfavorable positioning in industrials (aerospace) and consumer discretionary (e-commerce) was offset slightly by positive contributions in technology (semiconductors and application software). Alphabet ( GOOG ) and Micron Technology ( MU ) were the largest contributors to performance in the quarter. > Technology conglomerate Alphabet reported above-consensus results, with double-digit growth across its online search, video entertainment, and web services businesses. In addition to the positive earnings report, investors rejoiced over Alphabet's progress on artificial intelligence services. Its Gemini AI assistant has attracted 650 million users, a sevenfold increase from a year ago, and improved its ranking on industry performance evaluations. We believe Alphabet can preserve its perception as an AI leader through further product capability advancements. > Shares of memory chipmaker Micron surged on favorable pricing dynamics for storage semiconductors due to voracious demand for AI "building blocks." Although the company is investing heavily in manufacturing facilities to ease supply conditions, additional production capacity will not likely become available until 2027. Given the beneficial market en...
omersukrugoksu Pakistan said it plans to host discussions between the United States and Iran in the coming days, positioning itself as a mediator as the conflict enters its second month, the Associated Press reported Sunday. There has been no immediate confirmation from either Washington or Tehran, and it remains unclear whether the talks would take place face to face or through intermediaries. Sp...
omersukrugoksu Pakistan said it plans to host discussions between the United States and Iran in the coming days, positioning itself as a mediator as the conflict enters its second month, the Associated Press reported Sunday. There has been no immediate confirmation from either Washington or Tehran, and it remains unclear whether the talks would take place face to face or through intermediaries. Speaking in Islamabad, Foreign Minister Ishaq Dar said Pakistan had been trusted by both sides to facilitate dialogue and was prepared to support meaningful engagement. The announcement followed meetings with senior diplomats from Turkey, Egypt and Saudi Arabia, with further discussions expected. Pakistan has increasingly taken on a diplomatic role, leveraging its working relationships with both countries. Officials say the public offer comes after weeks of behind-the-scenes outreach. The proposal drew skepticism from Iran. Parliament Speaker Mohammad Bagher Qalibaf suggested the idea of talks was being used as a distraction, pointing to the recent arrival of roughly 2,500 U.S. Marines in the region for amphibious training exercises. He warned that Iranian forces are prepared to respond forcefully if U.S. troops engage on the ground. At the same time, tensions are rising elsewhere in the region. In Israel, Prime Minister Benjamin Netanyahu said the military plans to expand operations in southern Lebanon, widening an existing buffer zone as it targets the Iran-backed Hezbollah group. Officials did not provide further details. More on Brent Futures, Crude Oil Futures A Perspective On Why The Oil Price Is More Likely To Reach $150 Than $50 WTI Crude Oil Minor Pullback Over, Start Of New Bullish Leg For Breakout Above $102.25 What AI's Threat Might Do To The March 2026 Job Report BofA strategist sees weak stocks and bonds, strong dollar into Q2 Oil seen rising to start the week
Martin Barraud/OJO Images via Getty Images Market Review The MSCI EAFE Small Cap Index returned 2.68% in the fourth quarter of 2025, capping a strong year in 2025. The Index finished the year up 31.83%. Performance in the fourth quarter was supported by a macro backdrop turning more supportive for ex-US equities, value cyclicals outperforming growth, and falling rate expectations alongside foreign...
Martin Barraud/OJO Images via Getty Images Market Review The MSCI EAFE Small Cap Index returned 2.68% in the fourth quarter of 2025, capping a strong year in 2025. The Index finished the year up 31.83%. Performance in the fourth quarter was supported by a macro backdrop turning more supportive for ex-US equities, value cyclicals outperforming growth, and falling rate expectations alongside foreign exchange moves. Europe and Japan both benefitted from fiscal expansion and easier global financial conditions. Performance Review In the fourth quarter of 2025, the Goldman Sachs International Small Cap Insights Fund performed strongly, returning 4.95% and outperforming its benchmark, the MSCI EAFE Small Cap Index, by 183 basis points (net, I-share). The Fund experienced positive excess returns each month, with the strongest month of outperformance being October. From a factor perspective, our Themes & Trends investment pillar was the strongest contributor to excess returns in the quarter. Our signals seeking to assess industry momentum guided overweight positions within the Materials sector. Our overweight positioning towards these names proved additive to excess returns due to the broad trend of Mining stocks outperforming as gold and copper prices rose. Our Sentiment Analysis pillar was the second largest contributor to performance in the period. Our signals focused on using natural language processing to gauge analyst and management sentiment led to select overweight positioning within the Machinery and Electrical Equipment industries, specifically companies that outperformed due to strong earnings and demand for alternative energy products. The Fundamental Mispricings pillar also contributed positively to performance. Our suite of signals seeking to compare industry specific valuation metrics were able to guide overweight positioning in select oil & gas companies. This positioning contributed to performance as floating solutions for offshore oil gained amid geopolitic...
Iran Allowing 20 More Ships Through Strait Of Hormuz, Pakistan Says Authored by Ryan Morgan via The Epoch Times, Iran has agreed to allow 20 Pakistani-flagged ships to pass through the Strait of Hormuz unharmed, Foreign Minister Ishaq Dar announced on March 28. Dar presented the announcement as a sign of good faith from Tehran, as Iranian forces continue to threaten commercial shipping in the Stra...
Iran Allowing 20 More Ships Through Strait Of Hormuz, Pakistan Says Authored by Ryan Morgan via The Epoch Times, Iran has agreed to allow 20 Pakistani-flagged ships to pass through the Strait of Hormuz unharmed, Foreign Minister Ishaq Dar announced on March 28. Dar presented the announcement as a sign of good faith from Tehran, as Iranian forces continue to threaten commercial shipping in the Strait of Hormuz. Iran has actively targeted shipping in the region as part of its retaliation for U.S. and Israeli attacks on the leadership and military of the Islamic regime for its nuclear program, which have continued since Feb. 28. “I am pleased to share a great news that the Government of Iran has agreed to allow 20 more ships under the Pakistani flag to pass through the Strait of Hormuz,” Dar said in an X post on Saturday. The Pakistani foreign minister said two ships will be permitted to leave through the narrow maritime passage daily. Oil tanker carrying Saudi crude to Pakistan. Map frm @Kpler pic.twitter.com/qSUSTca7k1 — Anas Alhajji (@anasalhajji) March 29, 2026 In recent days, the Pakistani government has stepped forward as a potential intermediary for communications and further peace talks between Washington and Tehran. Dar said Tehran’s decision to allow these 20 ships through the Strait of Hormuz marks “a meaningful step toward peace and will strengthen our collective efforts in that direction.” The move came two days after President Donald Trump announced that Iran had let 10 oil tankers through the key Middle East waterway. “Dialogue, diplomacy, and such confidence-building measures are the only way forward,” Dar wrote on X. Trump has recently cited progress in negotiations with Tehran to end the war, but Iranian officials have downplayed the significance of the communications. In a statement shared by Iranian state media, Iranian Foreign Minister Abbas Araghchi said Tehran had received messages from Washington by way of intermediaries but said, “this is not c...
BofA Securities lists the "many" pain trades traders didn't have on their bingo cards for Q1. T-bills ( SHY ) beating AI Hyperscaler bonds U.S. dollar ( DXY ) beating bitcoin ( BTC-USD ) Oil ( USO ) ( BNO ) > gold ( GLD ) Yield curve flatteners > steepeners EM stocks ( EEM ) > U.S. stocks ( SPY ) ( QQQ ) ( DIA ) Energy ( XLE ) > Tech ( XLK ) Staples ( XLP ) > Banks ( KBE ) Semis ( SOXX ) ( SMH ) >...
BofA Securities lists the "many" pain trades traders didn't have on their bingo cards for Q1. T-bills ( SHY ) beating AI Hyperscaler bonds U.S. dollar ( DXY ) beating bitcoin ( BTC-USD ) Oil ( USO ) ( BNO ) > gold ( GLD ) Yield curve flatteners > steepeners EM stocks ( EEM ) > U.S. stocks ( SPY ) ( QQQ ) ( DIA ) Energy ( XLE ) > Tech ( XLK ) Staples ( XLP ) > Banks ( KBE ) Semis ( SOXX ) ( SMH ) > Software ( IGV ) Microcap ( IWC ) > Megacap ( MAGS ) There was also a lot of stock pain under the hood of the S&P 500 ( SPY ) ( IVV ) ( VOO ), with 336 stocks, or 67% of the index, down more than 10% and 143 stocks, or 27% of the index, down more than 20% since the liquidity and peak AI capex boom optimism peaked in late October, strategist Michael Hartnett said. Big corrections are always followed by big rallies, Hartnett added. In the past 100 years, in 15 big corrections (S&P down 10-20%) the average 3-month rally from lows has been 15%, he said. But the index won't reach correction territory until it breaks 6,300. More on the markets A Strong Jobs Report May Be Bad News For The Market The 1-Minute Market Report, March 29, 2026 You Survived Q1 2026, Now It's Time To Breathe And Prepare For Q2 Where to lean in a fat-tailed jigsaw puzzle market - Goldman Earnings scoreboard: 100% of S&P 500 earnings reports beat expectations and deliver Y/Y growth this week
Apollo Global Management Inc. is looking to open a second US headquarters and is considering basing it in south Florida or Texas, the company said Sunday. Such a step would make Apollo the latest in a group of financial companies opening headquarters in the Sun Belt after the post-pandemic migration out of high-cost-of-living areas in the Northeast and on the West Coast. “We’ve shared with our tea...
Apollo Global Management Inc. is looking to open a second US headquarters and is considering basing it in south Florida or Texas, the company said Sunday. Such a step would make Apollo the latest in a group of financial companies opening headquarters in the Sun Belt after the post-pandemic migration out of high-cost-of-living areas in the Northeast and on the West Coast. “We’ve shared with our teams across Apollo and Athene that we plan to establish a second headquarters in either Texas or south Florida, alongside NYC,” an Apollo spokesperson wrote in a response to questions. “This decision is driven by the talent we want to hire and the firm we want to be. New York does not have a monopoly on talent, and we expect most of our future growth will take place in our second HQ.” The Financial Times, which earlier reported the plan, named Nashville as another option, citing people familiar with the matter. From the start of 2020 through the end of March 2023, more than 370 investment companies — about 2.5% of the US total, and managing $2.7 trillion in assets — moved their headquarters to a new state. These moves have also been driven by the many billionaires and corporations that have relocated to these states in recent years, buoyed by tax advantages and a booming finance and tech scene. Read More: New York, California Each Lost $1 Trillion as Assets Moved South Finance firms have been expanding in the north Texas region, drawn by access to talent, low taxes and a friendly regulatory environment, with companies including Fidelity Investments and Vanguard Group Inc. choosing the Lone Star State . Goldman Sachs Group Inc. is increasing a push for workers to move out of New York and London and into Salt Lake City or its new $500 million campus in Dallas. Brokerage Charles Schwab Corp. moved its headquarters in 2021 to the affluent Dallas suburb of Westlake from San Francisco. Wells Fargo & Co. is moving the headquarters for its wealth-management business to West Palm Beac...
On March 10, 2026, RingCentral (NYSE:RNG) Chief Accounting Officer Tarun Arora disclosed the sale of 8,840 shares of Common Stock in an open-market transaction, as detailed in the SEC Form 4 filing . Transaction and post-transaction values based on SEC Form 4 weighted average purchase price of $40.69 on March 10, 2026. * 1-year price change calculated as of March 10, 2026. Continue reading
On March 10, 2026, RingCentral (NYSE:RNG) Chief Accounting Officer Tarun Arora disclosed the sale of 8,840 shares of Common Stock in an open-market transaction, as detailed in the SEC Form 4 filing . Transaction and post-transaction values based on SEC Form 4 weighted average purchase price of $40.69 on March 10, 2026. * 1-year price change calculated as of March 10, 2026. Continue reading
mbbirdy/E+ via Getty Images As conflict involving Iran stretches into its fifth week, Wall Street strategists are steering investors toward options trades designed for a gradual market decline rather than a sudden crash, Bloomberg News reported Sunday. Banks including BBVA and JPMorgan Chase have highlighted lower-cost hedging strategies such as put spreads and structured volatility trades. These ...
mbbirdy/E+ via Getty Images As conflict involving Iran stretches into its fifth week, Wall Street strategists are steering investors toward options trades designed for a gradual market decline rather than a sudden crash, Bloomberg News reported Sunday. Banks including BBVA and JPMorgan Chase have highlighted lower-cost hedging strategies such as put spreads and structured volatility trades. These approaches reduce upfront costs but offer limited protection if markets move sharply. So far, equities have avoided a severe shock, but risks are building. Higher oil prices, potential inflation pressures and disruptions to global trade could weigh on growth and lead to a more prolonged downturn. Many investors are positioned for a slow decline, leaving them vulnerable if volatility spikes quickly. More aggressive hedges tied to sharp market swings have been less popular, partly because recent selloffs have reversed quickly, making them difficult to monetize. Still, there are signs of caution. With the S&P 500 ( SP500 ) down from its earlier highs and oil prices ( CL1:COM ) ( CO1:COM ) holding above $100 a barrel, some investors are adding protection against deeper losses, including longer-dated volatility trades. The broader concern is that sustained pressure, rather than a single shock, could gradually weaken economic conditions and force markets lower over time. More on S&P 500 Index, Dow Jones Industrial Average Index, etc. A Strong Jobs Report May Be Bad News For The Market April 2026 Monthly S&P 500 Snapshot: Index Inches Closer To Correction Territory BofA strategist sees weak stocks and bonds, strong dollar into Q2 Top Nasdaq movers this week as tech stocks continue to drag down the index
Shutthiphong Chandaeng/iStock via Getty Images Key Takeaways Markets: 2025 marked the third consecutive year of this AI-driven cycle. The market-cap-weighted S&P 500 Index rose 17.9% in the year, while the equal-weighted S&P 500 Index gained just 11.4%. The Magnificent Seven, this market's nucleus, rose 24.9% in 2025. While performance comparisons will vary based on the time period, cap-weighted a...
Shutthiphong Chandaeng/iStock via Getty Images Key Takeaways Markets: 2025 marked the third consecutive year of this AI-driven cycle. The market-cap-weighted S&P 500 Index rose 17.9% in the year, while the equal-weighted S&P 500 Index gained just 11.4%. The Magnificent Seven, this market's nucleus, rose 24.9% in 2025. While performance comparisons will vary based on the time period, cap-weighted and equal-weighted indexes have produced similar returns over long periods of time. Contributors: Stock selection in consumer staples and utilities, a health care overweight and IT underweight proved beneficial. Detractors: Stock selection in the communication services, IT, energy and real estate sectors detracted. Outlook: We anticipate the AI debate will carry over in 2026 and we will continue to participate in AI in a measured and disciplined way. Yet, as other investors continue to myopically focus on AI, we expect to find additional idiosyncratic opportunities in overlooked corners of the market. We believe these seeds will bear fruit in the years to come. Performance Review The S&P 500 managed a 2.7% gain in the fourth quarter, while the Strategy captured roughly two-thirds of that gross of fees. The Strategy underperformed the S&P 500 for the quarter in net of fees. On the plus side, consumer staples holdings such as Nestle, Coca-Cola ( KO ) and Unilever and a health care overweight shined as concerns of a tech bubble grew. On the downside, we are underweight Alphabet and Apple ( AAPL ), two Magnificent Seven stocks that performed well, and overweight Oracle ( ORCL ), which gave back some of its large gains from earlier in 2025. Increasing competitive dynamics in the wireless industry also weighed on T-Mobile. 2025 marked the third consecutive year of this AI-driven cycle. The market-cap-weighted S&P 500 Index rose 17.9% in the year, while the equal-weighted S&P 500 Index gained just 11.4%. The Magnificent Seven, this market's nucleus, rose 24.9% in 2025. Since ChatGP...
Some of Wall Street’s biggest bond-fund managers say financial markets are underestimating the risk that the US war in Iran will cause a sharp slowdown in an already sputtering economy. As oil pushes over $110 a barrel and the conflict shows little signs of ending, traders have largely focused on the inflation shock. That has sent the US Treasury market toward the deepest monthly loss since Octobe...
Some of Wall Street’s biggest bond-fund managers say financial markets are underestimating the risk that the US war in Iran will cause a sharp slowdown in an already sputtering economy. As oil pushes over $110 a barrel and the conflict shows little signs of ending, traders have largely focused on the inflation shock. That has sent the US Treasury market toward the deepest monthly loss since October 2024 as investors brace for the possibility that the Federal Reserve will push interest rates higher before the year is out. But at companies including Pacific Investment Management Co. , JPMorgan Chase & Co. and Columbia Threadneedle Investments money managers are preparing instead for an economic hit that will eventually trigger a bond-market rebound and cause yields to come sliding back down. “Every day that this conflict persists brings us closer to the market being forced to consider the more negative implications for growth, which should ultimately push Treasury yields lower,” said Kelsey Berro , a fixed-income portfolio manager at JPMorgan Asset Management. “Yields broadly have risen enough to be attractive.” Economists have started to dial back their growth forecasts and nudge up the odds of a recession as higher energy prices, rising borrowing costs and the stock-market slump start to squeeze businesses and consumers. Goldman Sachs Group Inc. said the probability of a downturn over the next 12 months has risen to about 30%, while Pimco sees a more than one-third chance. Such pessimism is typically positive for bonds because it increases the likelihood that the Fed will reduce rates to stimulate the economy. But that hasn’t been the case this time because traders expect the energy-price spike to tie the hands of a central bank that has already been contending with inflation that’s stubbornly above its target. The result has been a fierce selloff that’s sent bond yields surging. Rates on two- and five-year Treasuries have jumped by more than half a percentage point...
We're just a few weeks away from another round of Social Security benefit payments. If you've been receiving checks for years, this process is probably familiar to you. But if you've signed up recently, you may not know exactly when your benefits will arrive in your account. Fortunately, the Social Security Administration follows a specific schedule for payments. Once you've got that down, it'll b...
We're just a few weeks away from another round of Social Security benefit payments. If you've been receiving checks for years, this process is probably familiar to you. But if you've signed up recently, you may not know exactly when your benefits will arrive in your account. Fortunately, the Social Security Administration follows a specific schedule for payments. Once you've got that down, it'll be easy to predict when your future benefits will arrive. Image source: Getty Images. Continue reading
syahrir maulana/iStock via Getty Images For the fourth quarter, We continue to adhere to our process of looking for value companies with identifiable catalysts to change investor perception and accelerate earnings growth. Fund strategy Invests in underappreciated companies that show accelerating earnings growth Identifies potential catalysts to drive earnings forward, which may allow investors to ...
syahrir maulana/iStock via Getty Images For the fourth quarter, We continue to adhere to our process of looking for value companies with identifiable catalysts to change investor perception and accelerate earnings growth. Fund strategy Invests in underappreciated companies that show accelerating earnings growth Identifies potential catalysts to drive earnings forward, which may allow investors to exploit inefficiencies created by low market expectations Takes a consistent approach to build a concentrated, low-turnover portfolio in pursuit of strong risk-adjusted returns Fund performance Institutional class shares of the Columbia Select Small Cap Value Fund returned 0.35% for the quarter ending December 31, 2025. For monthly performance information please visit columbiathreadneedleus.com The fund underperformed its benchmark, the Russell 2000 Value Index, which returned 3.26% during the period. Underperformance was driven by security selection within health care, consumer discretionary, financials and materials. Stronger stock selection within information technology, real estate and utilities offset some of this underperformance. Market overview U.S. equity markets finished higher in the fourth quarter of 2025, with the S&P 500 Index gaining 2.66%. This ended another strong calendar year of equity market returns, as the S&P 500 Index ended the year up 17.88%, its third straight year of positive returns. Value outperformed growth during the fourth quarter, with the Russell 1000 Value Index climbing 3.81% versus the 1.12% return of the Russell 1000 Growth Index. This held true within small caps as well, with the Russell 2000 Value Index gaining 3.26% versus the 1.22% return of the Russell 2000 Growth Index. There were numerous drivers of positive sentiment in equities during the quarter. The artificial intelligence (AI) theme remained at the forefront, as persistent increases in capital expenditures from the hyperscalers fueled optimism around the broader AI trade, alt...