William_Potter/iStock via Getty Images Introduction In a recent article , I discussed Annaly Capital Management’s Series F preferred ( NLY.PR.F ). NLY-F comes with an attractive floating-rate income. The coupon resets quarterly at 3-month SOFR plus a spread of roughly five percentage points. This gives investors a high yield without the duration risk associated with fixed-rate preferreds. A reader asked me why they shouldn’t be buying the Series I ( NLY.PR.I ) instead. It has almost the same investment case except that it comes at a better price. This article looks at that question. Why Annaly Has Multiple Preferred Series Both Series F and I are floating-rate preferred, so why did Annaly issue both of them? The answer is simply timing. Mortgage REITs issue preferred equity when they need non-dilutive capital, and when market conditions are favorable. These shares are issued at different times, and depending on the prevailing market conditions, they can carry different fixed coupons. NLY-F has a fixed coupon of 6.95%. It was issued in 2017. NLY-I, issued two years later when the interest-rate was a little lower, has a fixed coupon of 6.75%. This was a small difference when they were issued as fixed-rate coupons, but they became even less visible when they became floating-rate. The Investment Case For Annaly Preferreds I already did this before, but a quick recap if you haven't read the other article. Annaly is one of the largest mREITs in the United States. It invests in agency mortgage-backed securities, residential credit assets, and mortgage servicing rights, buying them using short term repo borrowings. These assets generate a yield. The difference between those yields and the cost of funding becomes its earnings. The combination of high income, floating coupons and a large equity cushion is why investors buy Annaly’s preferreds. Before we get into which security offers better value, note that the market essentially treats both Series as if they are identical. T...

Kenneth Cheung/iStock Unreleased via Getty Images If you have followed my latest articles on Meta ( META ), you know that I have been flirting with the idea of adding the stock to my personal portfolio for a few months now. I was never a big fan of the company and kept a hold for a certain time, until upgrading to a buy after the Q3 earnings following the big sell-off. Seeking Alpha And today, we didn't have a big sell-off, but the market pushed down META stock even more, which, in my view, was already at an interesting valuation level. And the reason, to me, makes it even more interesting: the company delayed its AI model , potentially by 2 months. If, on one hand, it makes sense for the market to have this uncertainty, on the other hand, I don't believe that a punishment of ~4% of Meta's market cap (which is what it is falling today) makes that much sense, since, in my view, this delay changes very little of the long-term value that can be generated. Therefore, I decided (finally) to start a small position in Meta, and continue monitoring, because it is not such a simple case, although it is very attractive. Meta's Valuation Starting with the strong point of the case currently, Meta stock's valuation is at a level that I consider quite appealing. The FWD P/E is at 20.2x, and this is well below the +25x it was trading at until recently, and is still below the avg. of 22.7x that the chart below shows. Data by YCharts Even if we look at a slightly longer history, the P/E (last twelve months) is at 21.4x, and the avg. of the last 5 years is 24.9x. Of course, if you see the chart above, at some moments Meta reached a trading level of 15x earnings, so it is not that completely asymmetric scenario where there is much more chance of having a multiple expansion than a de-rating, i.e., it is at an appealing valuation, but it is not the minimum it can reach in a stressed scenario. Seeking Alpha I even think a de-rating here could be possible (like the market punishing it eve...

Kenneth Cheung/iStock Unreleased via Getty Images If you have followed my latest articles on Meta ( META ), you know that I have been flirting with the idea of adding the stock to my personal portfolio for a few months now. I was never a big fan of the company and kept a hold for a certain time, until upgrading to a buy after the Q3 earnings following the big sell-off. Seeking Alpha And today, we didn't have a big sell-off, but the market pushed down META stock even more, which, in my view, was already at an interesting valuation level. And the reason, to me, makes it even more interesting: the company delayed its AI model , potentially by 2 months. If, on one hand, it makes sense for the market to have this uncertainty, on the other hand, I don't believe that a punishment of ~4% of Meta's market cap (which is what it is falling today) makes that much sense, since, in my view, this delay changes very little of the long-term value that can be generated. Therefore, I decided (finally) to start a small position in Meta, and continue monitoring, because it is not such a simple case, although it is very attractive. Meta's Valuation Starting with the strong point of the case currently, Meta stock's valuation is at a level that I consider quite appealing. The FWD P/E is at 20.2x, and this is well below the +25x it was trading at until recently, and is still below the avg. of 22.7x that the chart below shows. Data by YCharts Even if we look at a slightly longer history, the P/E (last twelve months) is at 21.4x, and the avg. of the last 5 years is 24.9x. Of course, if you see the chart above, at some moments Meta reached a trading level of 15x earnings, so it is not that completely asymmetric scenario where there is much more chance of having a multiple expansion than a de-rating, i.e., it is at an appealing valuation, but it is not the minimum it can reach in a stressed scenario. Seeking Alpha I even think a de-rating here could be possible (like the market punishing it eve...

Meta Platforms: Thanks For The Dip, I'm Buying The Market Panic Seeking Alpha

narvo vexar/iStock via Getty Images We’ve been covering Nebius ( NBIS ) since the neocloud ah-ha moment struck early last year, post CoreWeave ( CRWV ) going public. While we find the neocloud model to be fundamentally flawed, given the upfront CapEx requirement and longer-term competition against bigger, richer hyperscalers, we turned sides mid-2025 and joined the neocloud frenzy based on the belief that for the short-to-mid term, this handful of stocks will live their golden days as the AI infrastructure build-out expands. The chart below showcases our coverage of Nebius since upgrading to a buy; since then, the stock has done exceptionally well, up 123% since the upgrade and 69% since the second buy call. Seeking Alpha This trend is far from Nebius-specific, as the chart below shows; neoclouds have exploded in momentum, all hanging out in the triple-digit gain range over the past year. YCharts That said, we’ve seen momentum wane over the past six months, as shown below, with CoreWeave, Nebius’s arch-nemesis, falling out of market favor most. While we see ticker-specific surges or crashes, the neocloud peer group trades in unison for the most part. YCharts Nebius is back in the headlines this week, surging as much as 17% earlier this week after Nvidia ( NVDA ) announced it’ll be investing $2B in the company for a strategic partnership to deploy more than 5 GW of Nvidia systems. Nvidia closed a similar deal with CoreWeave earlier this quarter, investing $2B, to help build +5 GW of AI factories by 2030. The news has driven Nebius stock to its highest level since last November, currently hovering at around $114 per share with an RSI of 61, flirting with overbought territory but not quite there yet. In light of the news, subsequent stock surge, and current angsty AI trade, we’re revisiting our thesis on Nebius. Demand is confirmed; it’s all about CapEx fears For Q4, Nebius reported revenue of $227.7M, trailing estimates of $246.5M. The moat is still there, with Nebius...

Leor Stern has joined the advisory board as Senior AI Advisor for strategic growth. Bringing deep expertise from leading AI, wearables, and digital health teams at Google, including several acquisitions in wearables (including Fitbit and Misfit technologies for Wear OS) and developing AI-integrated smartwatch platforms at Cronologics Corporation (which Google acquired), Leor will help guide the Company’s strategy, value proposition, growth and partnerships as the Company continues to expand its global activities. The recently launched ai6 Labs is focused on advancing the Company’s revolutionary neural AI technology powered by non-invasive electromyography (EMG) technology and the Mudra platform, supporting a closed-loop ecosystem designed to seamlessly connect human intent with digital reality. Unlike fragmented research efforts or isolated products, this integrated platform integrates deep foundational research, commercialization, and rapid AI experimentation into a virtuous cycle that accelerates innovation, redefining touchless, intent-driven human-machine interaction and positioning Wearable Devices at the forefront of the next era in computing. Story Continues Leor Stern commented: “Wearable Devices and ai6 Labs are pioneering the future of neural AI in wearables. I’m excited to contribute to unlocking massive market opportunities, forging key partnerships, and positioning the Company as the leader in bridging human intent to digital reality.” Pankaj Kedia added: “We are at an opportune time in the industry where the convergence of AI, wearables, and sensing will transform user experiences across consumer and enterprise sectors. The momentum behind ai6 Labs is exciting, from neural gesture standardization to AI-assisted development. I look forward to continued collaboration in helping bring next-generation experiences across the range of smart edge AI devices.” About Wearable Devices Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) is a growth company pioneering hum...

The S&P 500 (^GSPC +0.93%) has been dominated by a handful of megacap growth stocks over the last few years. Their strong performance of these select stocks has led to the benchmark index posting total returns of 26%, 25%, and 18% in 2023, 2024, and 2025, respectively. Those returns are well above average, and it's reasonable to expect a reversion to the mean going forward. But while the growth stock-led S&P 500 has hit new all-time highs, many other stocks have been left in the dust. Analysts at Vanguard expect a couple of key groups of stocks to outperform over the next decade as a result. And the good news for investors is that it offers simple, inexpensive ETFs you can buy to invest in market segments poised to outperform the large-cap index. The two market segments set to beat the S&P 500 over the next 10 years Vanguard analysts provide quarterly updates for investors on its Capital Markets Model forecasts. The model uses valuations to project long-term prospects for equities, bonds, and other asset classes as well as inflation. Vanguard notes that valuations tend to be poor predictors of short-term returns but can be useful for longer-term predictions. As such, it doesn't recommend using these predictions as the primary reason for changing portfolio allocations. That said, long-term outlooks can offer ideas for investors thinking about the markets going forward. The most recent update from Vanguard's model shows two segments of the market outperforming over the long run: small-cap stocks and value stocks. The analysts see small-cap stocks producing annualized returns of 6.2% and value stocks producing 6.8% average returns. That compares to expected returns of 4.9% for U.S. equities overall and 4.8% for large-cap stocks in particular. With valuations as the core basis for Vanguard's model, it's easy to see why it expects small-cap and value stocks to outperform. At the start of 2026, the valuation spread between growth stocks and value stocks is at its widest s...

真正的“滞胀交易”在下一阶段，这需要关键条件来确认，在通胀上升的同时，美联储表现出暧昧或不作为的态度，从而形成“政策应对不足”的预期 【财新网】 美伊战争进入第三周，战事倍显紧张，市场似乎开始逐步交易由于油价大幅上涨导致的经济滞胀预期，身为避险资产的黄金却显得力不从心。 3月以来，现货黄金伦敦金累计下跌超5%。3月16日盘中更是一度跌破5000美元/盎司的重要心理关口，最低探至4969.84美元/盎司。 一位保险资管宏观分析师认为，霍尔木兹海峡仍处于实质性封锁状态，短期僵局难破，即使释放战略储备也无法解决流通量短缺。油价中枢的走高已经是不可忽视的季度级别威胁。4月可见的原油供应困局，推动滞胀交易进入第二阶段。

摩根大通 警告称，原油价格持续高于90美元可能引发标普500指数10-15%的回调，将给SPDR S&P 500 ETF Trust （SPY）等广泛股票指标带来压力。 责任编辑：张俊 SF065

据中国外交部消息，阿巴双方均感谢中方斡旋调解，表示愿意通过政治外交解决问题 【财新网】 巴基斯坦与阿富汗的边境冲突已进入第三周，仍未出现明显缓和迹象。当地时间3月14日至15日凌晨，巴基斯坦对阿富汗坎大哈省再度发动空袭，阿富汗军方随即进行军事报复。 巴方称，其打击了阿富汗境内多个恐怖分子藏身处，造成对方装备存储设施和技术支持基础设施受损。坎大哈是阿富汗塔利班最高领导人阿洪扎达的居住地。据《纽约时报》3月15日报道，一位匿名阿富汗特种部队成员透露，巴基斯坦的空袭击中了该特种部队驻守的一处院落，阿富汗特种部队奉命保护阿洪扎达。

Dollar Tree’s stock could snap a three-day losing streak that saw the stock drop 8%.

油价飙升使市场推迟并缩减对2026年美联储降息的预期，一些预测者警告可能不会降息甚至存在加息风险——这对SPDR S&P 500 ETF Trust （SPY）的持仓至关重要。 责任编辑：张俊 SF065

TheKaran Oil ( CL1:COM ) prices are expected to remain volatile this week as geopolitical tensions and shifting market expectations keep traders focused on energy markets. According to forecasts compiled by prediction market Kalshi, many participants anticipate that crude prices will climb in the coming days, with a growing number of traders projecting West Texas Intermediate crude to return above the $100-per-barrel level by the end of the week. Some estimates on the platform suggest prices could move even higher, with projections pointing toward levels north of $106 per barrel by Friday. The outlook reflects ongoing uncertainty in global energy supply as traders weigh geopolitical developments and potential disruptions in key shipping routes. Despite the bullish expectations that are being forecasted, oil began Monday’s session under pressure. WTI crude was trading about 3% lower in early dealings, hovering near $95.75 per barrel. The pullback suggests that while near-term sentiment remains cautious, many market participants continue to position for a potential rebound in crude prices as the week progresses. Outlined below is what Kalshi traders are predicting as it pertains to WTI’s price by this Friday: $93 to $93.99 – 3% chance $94 to $94.99 – 2% chance $95 to $95.99 – 2% chance $96 to $96.99 – 3% chance $97 to $97.99 – 4% chance $98 to $98.99 – 4% chance $99 to $99.99 – 2% chance $100 to $100.99 – 4% chance $101 to $101.99 – 3% chance $102 to $102.99 – 3% chance $103 to $103.99 – 3% chance $104 to $104.99 – 4% chance $105 to $105.99 – 5% chance $106 or above – 37% chance Oil ETFs: ( USO ), ( UCO ), ( DBO ), ( OILK ), and ( USL ). Energy ETFs: ( XLE ), ( VDE ), ( XOP ), ( OIH ), ( AMLP ), and ( IXC ). More on markets Recession odds climb as Middle East conflict escalates, according to prediction markets When will a U.S.–Iran ceasefire happen? Prediction markets point to early summer DXY climbs back above 100 and is closing in on a new 4-month high SA analysts b...

格隆汇3月16日｜美国财长贝森特周一表示，目前美国对于一些船只通过霍尔木兹海峡一事持“认可”态度。他还指出，任何旨在缓解油价上涨的措施都将取决于伊朗战争持续的时间长短。“我们看到越来越多的燃料运输船开始启航了。伊朗的船只已经先行离开，而我们也就允许这种情况发生，以便向世界其他地区供应燃料。我们现在也看到印度的船只启航了。”他表示。“在海湾地区的任何舰队或护航舰队出现之前，这种情况应该会逐渐增加。所以我们认为伊朗方面会自然而然地做出让步。目前，我们对此表示满意。我们希望全球物资供应充足。”贝森特说道。当被问及特朗普政府除了释放石油储备之外，是否会使用其他手段来缓解油价上涨以及战争带来的影响时，贝森特表示：“这将取决于冲突的持续时间。”

行云科技（300209）公告，全资子公司悦云树收到相关中标通知发出方出具的《中标及保证金付款通知书》，悦云树成功中标。中标金额预计占公司最近一个会计年度经审计总资产100%以上，项目内容为设备租赁项目，具体以正式合同约定为准，项目执行期限为5年。根据中标通知书要求，悦云树需在收到本通知后3个工作日内，向中标通知书发出方指定账户足额提交履约保证金人民币1亿元。

中东风险升级和通胀粘性使市场预期美联储、欧洲央行和英国央行在2026年将减少宽松政策——这是通过SPDR S&P 500 ETF Trust进行广泛美股敞口配置面临的一个不利因素。 责任编辑：张俊 SF065

Stephen Parker, co-head of global investment strategy at JPMorgan Private Bank, discusses how US and European markets are reacting to the Iran war. (Source: Bloomberg)

华泰柏瑞旗下ETF全部完成规范化命名 2026-03-16 20:42:35 来源： 同花顺7x24快讯 分享 华泰柏瑞公告启动旗下28只ETF场内扩位简称的更名工作，涵盖宽基、行业、跨境、策略等品种。新简称将于2026年3月18日生效，统一以“ETF华泰柏瑞”为后缀。至此，华泰柏瑞旗下ETF产品全部完成规范化命名。(人民财讯)

If you’re on the hunt for a well-priced upgrade to your gaming setup, Newegg has you covered with an epic deal on a CyberPowerPC rig. You can pick up this pre-built gaming PC for just $2,259, giving you a huge $290 saving on a machine with the AMD Ryzen 7 9800X3D, one of the best-performing gaming CPUs out there right now, along with an AMD Radeon RX 9070 XT. Along with 32GB of DDR5 RAM and a 2TB SSD, you’re getting a very well spec’d PC that will cover you for gaming at 4K at high frame rates. There simply isn’t a better alternative to X3D chips from AMD, with the 9800X3D close to the top of the pile. The RX 9070 XT is another AMD powerhouse, too, and sits at the top of our best GPU recommendations as the perfect all-rounder for gamers. Save 11% CyberPowerPC GM70929 Gaming PC: was $2,549.99 now $2,259.49 at Newegg This CyberPowerPC rig is ready for gaming at 1440p and 4K. It includes the AMD Ryzen 7 9800X3D, AMD Radeon RX 9070 XT, 32GB of DDR5 RAM, and a 2TB NVMe SSD with Gen 4 speeds. First, however, is that stonkingly good CPU. Only just dethroned by the 9850X3D, the AMD Ryzen 7 9800X3D continues to be an exceptionally impressive CPU for gaming. Our CPU benchmarks demonstrate just what a powerhouse the 9800X3D is, with performance outstripping anything Intel has to offer, and sitting only 3% slower than the 9850X3D, despite that CPU requiring 30% more power. Image 1 of 11 (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) (Image credit: Tom's Hardware) It’s all down to the magic of AMD’s 3D V-cache technology. All eight of its cores have access to 96MB of L3 cache, which reduces latency by minimizing how often the CPU has to fall back to slower system RAM, leaving you with significantly higher and more stable...

Jon Tetzlaff Boeing ( BA ) received an order from the U.S. Navy worth up to $489.3M for engineering work and test assets tied to the Beowulf upgrade on the Boeing EA-18G Growler platform. This order includes four Beowulf A-kits, four Gunbay Pallet A-kits, 12 Beowulf B-kits, 15 sensor control unit B-kits, and nine power control unit B-kits, plus support equipment. The work is expected to finish by February 2030, with ~$33.99M FY26 R&D funds allocated at the time of award. The contract was managed by Naval Air Systems Command. More on Boeing Boeing: New 737 MAX Problem, Stock Down Despite Solid Delivery Performance Boeing And Airbus Deliveries Weakness Show Critical Challenge: What's Going On? Boeing: Quietly Setting Up The Next Production Surge After A Surprise Delta Win Boeing tops growth factor grades among S&P industrials holdings Boeing repairing 25 737 MAX jets after wiring issue disrupts deliveries - Bloomberg

英伟达CEO黄仁勋在GTC大会上发表主题演讲，投资者关注其AI平台更新、软件/代理式AI动向及潜在芯片路线图。 责任编辑：张俊 SF065

For the fiscal second quarter, revenue is projected to have more than doubled compared to the same period a year earlier. Adjusted earnings per share are also forecast to show a substantial increase. Analyst sentiment on the stock is overwhelmingly positive, with nearly all tracked analysts recommending a buy. However, following its recent appreciation, the stock price is now very close to the analysts' average target. The surge is attributed to booming demand for artificial intelligence, which has driven sales growth and allowed the company to increase prices. Analysts from UBS recently raised their price target for the stock, pointing to robust product demand and improved profitability from higher pricing. Their analysis suggests a shortage of memory components could persist for several more years, supporting strong pricing even as industry production expands. Options market activity indicates the stock could move up to 9% in either direction by the end of the current week. Such a swing could potentially push the share price to a level exceeding last month's record or pull it back significantly. The company's shares have risen close to 50% since the start of the year and have increased more than fourfold over the preceding twelve months. This performance has positioned it as one of the leading gainers within its index, following a strong prior year. According to Investopedia , Micron Technology is scheduled to announce its financial results after the market closes on Wednesday. Traders anticipate the report could propel the memory chipmaker's stock to new highs. This report provides a comprehensive view of the memories industry in the United States, tracking demand, supply, and trade flows across the national value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply. Beyond headline metrics, the study benchmar...

Micron Technology Q2 Earnings Preview: AI Boom Fuels Stock Surge - News and Statistics IndexBox

From The Wire to Fruitvale Station, Creed, Black Panther, the Academy award winner has amassed a body of work that straddles commercial and critical success • Oscar winners 2026: the full list • Sinners’ Oscar triumphs show that Black cinema is now a vital and valid part of Hollywood Michael B Jordan’s best actor Oscar places him in an exclusive club . Only five black actors have won the award before. He now sits on a list that includes Will Smith, Jamie Foxx, Forest Whitaker, Denzel Washington and Sidney Poitier, the first black winner for Lilies of the Field in 1964. But less than a month ago, it seemed unlikely. Jordan’s success at the Actors awards was the first serious hint that he could beat Timothée Chalamet, who had won at the Golden Globes and was the frontrunner for much of the awards campaign. But Chalamet, who made a few missteps on the campaign trail , was up against one of the most well-loved actors operating in Hollywood. Jordan is someone who at only 39 years old has managed to amass a body of work that straddles commercial and critical success. Continue reading...

今日聚焦 【万华化学：2025年净利润125亿元 同比下降3.88%】 万华化学(600309.SH)发布业绩快报，2025年实现营业收入2032.35亿元，同比增长11.62%；归属于上市公司股东的净利润125.27亿元，同比下降3.88%。报告期内，公司深入贯彻“变革年”管理主题，以变革应对全球不确定性挑战，持续加大研发创新投入，深化行业整合与应用开发，多套新装置顺利投产，同时积极拓展全球市场空间，提升海外本土交付和技术服务能力，扩大全球品牌影响力，但受化工产品价格下行影响，净利润下降。小财注：Q3净利润30.35亿，据此计算，Q4净利润33.7亿，环比增长11%。第四季度净利润分析师一致预测为36.46亿。 【湘邮科技：因涉嫌信息披露违法违规被证监会立案调查】 湘邮科技(600476.SH)公告称，公司近日收到中国证监会出具的《立案告知书》，因公司涉嫌信息披露违法违规，中国证监会决定对公司立案。目前公司各项经营活动和业务均正常开展，将积极配合调查并及时履行信息披露义务。 【ST柯利达：公司及董事长顾益明涉嫌信息披露违法违规被证监会立案】 ST柯利达(603828.SH)公告称，公司及董事长顾益明近日收到中国证监会下发的《立案告知书》，因涉嫌信息披露违法违规，根据相关法律法规，中国证监会决定对公司和顾益明立案。目前公司生产经营正常，此次立案调查不会影响公司正常生产经营活动。公司将积极配合调查，并严格履行信息披露义务。 【南网储能：拟约73.79亿元投建广东新丰抽水蓄能电站项目】 南网储能(600995.SH)公告称，公司计划投资建设广东新丰抽水蓄能电站，该项目是国家能源局《抽水蓄能中长期发展规划（2021-2035年）》规划项目，位于广东省韶关市新丰县，规划装机120万千瓦。项目动态总投资额约73.79亿元，其中项目资本金20%，银行贷款80%。董事会已通过该投资议案，但需提交股东会审议。投资建设广东新丰抽蓄项目符合公司战略布局和规划目标，有利于进一步拓展公司主营业务，增强公司核心竞争力。 【沃森生物：筹划公司控制权变更事项 明起停牌】 沃森生物(300142.SZ)公告称，公司正在筹划向特定对象发行A股股票，该事项可能会导致公司控制权发生变更。为维护广大投资者的利益，避免公司股价异常波动，公司股票自2026年3月17日起停牌，预计停牌时间不超过2个交易日。 【...