Shares of Upstart may have fallen too far amid the broader downturn in private credit markets, according to BTIG. The financial firm upgraded the artificial intelligence lending marketplace to buy from neutral. Analyst Vincent Caintic's $43 price target implies a 63% upside ahead for shares of Upstart. Caintic pointed to Upstart's plans last week to submit an application to establish an insured na...
Shares of Upstart may have fallen too far amid the broader downturn in private credit markets, according to BTIG. The financial firm upgraded the artificial intelligence lending marketplace to buy from neutral. Analyst Vincent Caintic's $43 price target implies a 63% upside ahead for shares of Upstart. Caintic pointed to Upstart's plans last week to submit an application to establish an insured national bank as a postive. He added that the market didn't react to the announcement, which he found surprising because a bank charter would address what he considers to be a key downside risk of Upstart's private credit exposure. Caintic wrote that Upstart's intention to hold a national bank charter could provide downside protection in draconian scenarios where liquidity dries up for the company's current funding partners. "While there's no guarantee that Upstart will successfully become a bank, we think UPST's current share price is both 1) not pricing any potential upside from becoming a bank, and 2) pricing in significant liquidity risk of Upstart losing funding sources," he wrote. The move could also significantly increase cost savings, through the elimination of fees currently being paid to partner banks and operational costs of having hundreds of licenses across different states, Caintic said. The analyst calculated that Upstart's annual earnings per share could rise by 60% thanks to reduced transaction volume costs. A bank charter could also meaningfully reduce quantified capital and regulatory infrastructure costs. The analyst also believes that a national bank charter could help expand Upstart's customer base. It would also put into place a consistent and unified regulatory framework nationally. "Even without the savings, we would upgrade UPST to Buy on the bank downside protection alone, especially with UPST shares trading cheaply on fears of private credit appetite collapsing," Caintic added. Caught up in the overall sell-off sweeping the private credit market, s...
S&P 500 Index futures rise 0.8% as of 7:50 a.m. in New York and oil prices reversed an advance on hopes that more tankers could traverse the Strait of Hormuz. Nasdaq 100 futures climb 0.9% Dow Jones Industrial Average futures are up 0.4% The MSCI World Index is up 0.1% Here are some of the biggest US movers before the bell: Magnificent Seven: Meta rises 2% after Reuters reported that the social me...
S&P 500 Index futures rise 0.8% as of 7:50 a.m. in New York and oil prices reversed an advance on hopes that more tankers could traverse the Strait of Hormuz. Nasdaq 100 futures climb 0.9% Dow Jones Industrial Average futures are up 0.4% The MSCI World Index is up 0.1% Here are some of the biggest US movers before the bell: Magnificent Seven: Meta rises 2% after Reuters reported that the social media giant is planning layoffs that could affect 20% or more of the company. Nvidia (NVDA) +1%, Tesla (TSLA) +0.9%, Apple (AAPL) +0.3%, Microsoft (MSFT) +0.6%, Amazon (AMZN) +0.5%, Alphabet (GOOGL) +0.1% Micron Technology (MU) climbs 4% — lifting other memory and storage companies — as analyst optimism grows ahead of the chipmaker’s results later this week. National Storage Affiliates Trust (NSA) rises 25% after agreeing to be purchased by Public Storage Operating Co. for $41.68 per share. Nebius shares jumped 15% in premarket trading after Meta said it will pay as much as $27 billion over the next five years for access to artificial intelligence infrastructure from the cloud provider Sable Offshore Group (SOC) rises 6% after the energy company said it restarted oil transportation at its California pipeline after the Trump administration invoked the Defense Production Act.
The UK will not be drawn into the wider war in the Middle East, Keir Starmer has said, as he announced that households reliant on heating oil to warm their homes would receive £53m of government support to help with their bills. After costs surged following the outbreak of the Iran conflict, lower-income households will get targeted support, while heating oil suppliers engaged in price gouging wou...
The UK will not be drawn into the wider war in the Middle East, Keir Starmer has said, as he announced that households reliant on heating oil to warm their homes would receive £53m of government support to help with their bills. After costs surged following the outbreak of the Iran conflict, lower-income households will get targeted support, while heating oil suppliers engaged in price gouging would face legal action and future market regulation, he warned. The prime minister said he was not ruling out government support for energy bills more broadly if costs had risen when the cap came to an end this summer – but suggested it was difficult to predict where oil prices would be and that de-escalating the conflict should be the priority. Donald Trump has called for allies to send military ships to the strait of Hormuz to help reopen shipping lanes and unblock global oil supplies, but the response so far has been muted. At a Downing Street press conference, Starmer told reporters he was “looking through the options”, but acknowledged the decision was “difficult, there’s no hiding that”. The prime minister said the UK, which is considering sending ships and mine-hunting drones to the Middle East, was working with allies on a “viable plan” to reopen shipping lanes. Otherwise energy prices would remain high. “It’s a discussion; we’re not at the point of decisions yet. It’s obviously a difficult question, that goes without saying, in relation to how you safeguard maritime traffic … But we are discussing that with the US, with Gulf partners and with Europeans,” he said. He said that while the UK would take “necessary action” to defend itself and allies “we will not be drawn into the wider war”, as concern mounts at home over the prospect of a drawn-out conflict. “I want to see an end to this war as quickly as possible, because the longer it goes on, the more dangerous the situation becomes, and the worse it is for the cost of living back here at home,” he said. Ministers ha...
Meta Platforms shares rose 3% on Monday following a Reuters report that the social media giant plans to lay off 20% or more of its workforce to offset heavy spending on artificial intelligence and bet on productivity gains from the technology. If Meta settles on the 20% figure, the cuts will be the biggest since a late 2022 and early 2023 restructuring it dubbed the "year of efficiency", which e...
Meta Platforms shares rose 3% on Monday following a Reuters report that the social media giant plans to lay off 20% or more of its workforce to offset heavy spending on artificial intelligence and bet on productivity gains from the technology. If Meta settles on the 20% figure, the cuts will be the biggest since a late 2022 and early 2023 restructuring it dubbed the "year of efficiency", which eliminated around 21,000 jobs. After falling behind in the AI race, Meta has spent heavily in recent years to catch up by building data centers and waging a talent war.
Colin Anderson Productions pty ltd Airlines are facing soaring jet fuel prices as a result of the U.S.-Israel-Iran war, as the global oil market is battling a severe disruption due to supply challenges. Jet fuel costs have surged by 81% since the start of the Iran conflict and were up a whopping 124% since the start of the year, according to a report on The Real Economy Blog. Carriers around the w...
Colin Anderson Productions pty ltd Airlines are facing soaring jet fuel prices as a result of the U.S.-Israel-Iran war, as the global oil market is battling a severe disruption due to supply challenges. Jet fuel costs have surged by 81% since the start of the Iran conflict and were up a whopping 124% since the start of the year, according to a report on The Real Economy Blog. Carriers around the world have started to raise ticket prices and have considered adding more flights for certain routes. The rise in prices will likely affect the travel industries, as the airlines will partially pass on the price hike to their customers. Last week, Australia's Qantas Airways ( QABSY ) said it will hike airfares on its international routes and is exploring options to redeploy capacity to its Europe routes in the coming months. Air New Zealand ( ANZFF ) said it implemented initial fare adjustments, but it may take further pricing action if jet fuel costs remain elevated. Cathay Pacific Airways ( CPCAY ) ( CPCAF ) is adding extra flights to London and Zurich this month, Reuters had earlier reported, while Hong Kong Airlines is raising its fuel surcharges by up to 35.2% this week. Airlines such as AirFrance-KLM and Air India have also announced surcharges, according to The Real Economy Blog. The report noted that the Bloomberg fair value price on jet fuel futures showed a similar increase of 108% for the year and 60% since the start of the war. Here are two charts posted by The Real Economy Blog: Bloomberg Bloomberg More on airlines Cathay Pacific Airways Limited 2025 Q4 - Results - Earnings Call Presentation Oil Above $100: Why Game Theory Suggests This Spike Won't Last United Airlines: Rare Quality At A Peer-Group Discount Airline CEOs press Congress to end shutdown as TSA staffing strains airports Southwest Airlines ends service to Chicago's O'Hare and Washington's Dulles airports
The arrest of a 17-year-old stateless teenager during a school outing to buy Eid clothes at a Sabah mall for allegedly failing to show valid residence papers, has returned scrutiny to Malaysia ’s treatment of undocumented people. Niko Ansboy, a student at Borneo Komrad, an alternative school for stateless children, was waiting outside a store during a school trip to the 1Borneo Hypermall when poli...
The arrest of a 17-year-old stateless teenager during a school outing to buy Eid clothes at a Sabah mall for allegedly failing to show valid residence papers, has returned scrutiny to Malaysia ’s treatment of undocumented people. Niko Ansboy, a student at Borneo Komrad, an alternative school for stateless children, was waiting outside a store during a school trip to the 1Borneo Hypermall when police detained him on Sunday. He was stopped by officers patrolling after the Kota Kinabalu District Police Headquarters received reports of a spate of thefts. Advertisement Acting Kota Kinabalu police chief Superintendent Syed Lot Syed Ab Rahman confirmed the arrest, saying Niko was detained “for further action … for being in Malaysia without valid travel documents”. The teenager was yet to be released on Monday. Niko Ansboy is a student at Borneo Komrad, an alternative school for stateless children. Photo: Handout According to official government data, Sabah is home to more than 1 million non-citizens – including stateless and undocumented residents denied legal status by Malaysia’s restrictive citizenship laws, even for those born and raised in the country.
Toto Wolff has dismissed criticism of the new Formula One regulations from Max Verstappen as a result of the “horror show” Red Bull car the four-time champion is having to drive. Verstappen has not been alone in his outspoken criticism of the new rules and after he was forced to retire from the Chinese GP on Sunday he delivered his most damning condemnation yet of the emphasis on electrical energy...
Toto Wolff has dismissed criticism of the new Formula One regulations from Max Verstappen as a result of the “horror show” Red Bull car the four-time champion is having to drive. Verstappen has not been alone in his outspoken criticism of the new rules and after he was forced to retire from the Chinese GP on Sunday he delivered his most damning condemnation yet of the emphasis on electrical energy deployment and recovery. “It’s terrible,”he said. “If someone likes this, then you really don’t know what racing is like. Not fun at all. Playing Mario Kart. This is not racing and I would say the same if I would be winning races because I care about the racing product.” Wolff’s Mercedes team have one-two victories in the first two GPs of the season, with 19-year-old Kimi Antonelli securing his first F1 win in China on Sunday. Their car is comfortably the best of the field, with a fearsome engine and excellent balance and Wolff attributed much of Verstappen’s dissatisfaction to the poorly performing Red Bull. At best, it has been fourth-fastest in the opening two rounds and, at Verstappen’s own admission, a handful to drive. “Max is really, I think, in a horror show,” he said. “When you look at the onboard he has in qualifying, this is just horrendous to drive.” F1 was due to consider adjustments to the rules in order to address some driver complaints after China, but the race proved to be successful. Lewis Hamilton and his Ferrari teammate, Charles Leclerc, enjoyed a race-long contest and there was overtaking and wheel-to-wheel competition throughout the field that went down enormously well with the crowd. Hamilton said it was “the best racing I’ve ever experienced in Formula One”. It is believed the meeting will still take place, but decisions on whether the rules will be adjusted will now not take place until after the Japanese GP in two weeks’ time. The race at Suzuka precedes a five-week gap until the next round in Miami after the cancellation of the Bahrain And Saudi...
Crescita Therapeutics ( CTX:CA ) will be acquired by ClinActiv Holdings and its affiliate in an all-cash deal for a target purchase price of around $0.80 per share. The target purchase price of $0.80 per share represents a premium of ~74% to the five-day volume-weighted average price of the shares. Source: Press Release More on Crescita Therapeutics Inc. Financial information for Crescita Therapeu...
Crescita Therapeutics ( CTX:CA ) will be acquired by ClinActiv Holdings and its affiliate in an all-cash deal for a target purchase price of around $0.80 per share. The target purchase price of $0.80 per share represents a premium of ~74% to the five-day volume-weighted average price of the shares. Source: Press Release More on Crescita Therapeutics Inc. Financial information for Crescita Therapeutics Inc.