The Eurobond market, one of the world’s largest debt markets, is moving to ditch paper. Euroclear Bank and Clearstream have launched new services to allow Eurobonds to be issued entirely digitally, the institutions said in a joint statement on Monday. The move will simplify issuance and reduce the operational burden and costs associated with handling physical documentation, they said, helping borr...
The Eurobond market, one of the world’s largest debt markets, is moving to ditch paper. Euroclear Bank and Clearstream have launched new services to allow Eurobonds to be issued entirely digitally, the institutions said in a joint statement on Monday. The move will simplify issuance and reduce the operational burden and costs associated with handling physical documentation, they said, helping borrowers raise funds more easily. Going paperless marks a significant change for the €15.3 trillion ($17.6 trillion) market. For decades, each Eurobond has typically been represented by a global certificate accompanied by extensive documentation that must be physically stored until the bond matures, before eventually being shredded — a process that has resulted in warehouses filled with paper supporting the market. There are currently around 350,000 Eurobonds outstanding, according to the statement. The option to go paperless initially applies to bonds issued under English law, the companies said. They’re assessing expansion to other jurisdictions. “The ability of Europe to finance its future needs depend on bond markets,” Jens Hachmeister, head of issuer services and new digital markets at Clearstream, said in an interview. “Increasing the speed and improving the efficiency is an enabler of growth because the more efficient and fast the markets the easier it is to tap into liquidity.” Euroclear and Clearstream are the major International Central Securities Depositories for the Eurobond market, handling the issuance and distribution of the bonds. The new digital system also increases security by removing the risks linked to loss, theft or counterfeiting, while ensuring transparency through electronic records of ownership, the companies said. The contract for each security can run 300 to 400 pages, according to Euroclear. Eurobonds have been around for more than 60 years , growing from a quirky tax loophole to one of the largest debt markets in the world. The market also suppor...
The UK plans to curb the powers of the Financial Ombudsman Service after it acted as a “quasi regulator” during cases including the multibillion-pound motor finance scandal. The UK Treasury said on Monday the changes will return the FOS to its “original role as a fast, impartial complaints body” and “restore clarity to the financial services redress system.” The plan will give the Financial Conduc...
The UK plans to curb the powers of the Financial Ombudsman Service after it acted as a “quasi regulator” during cases including the multibillion-pound motor finance scandal. The UK Treasury said on Monday the changes will return the FOS to its “original role as a fast, impartial complaints body” and “restore clarity to the financial services redress system.” The plan will give the Financial Conduct Authority greater oversight on ambiguous or significant FOS cases, though it stopped short of folding the complaints body into the larger watchdog. The FOS will also be required to find that a company’s behavior was fair and reasonable, as long as the firm complied with FCA rules. The FOS was set up in 2001 to independently handle complaints about financial services. But it’s faced a flood of new cases in recent years, mostly about hidden commission in motor finance. Several FOS decisions have resulted in legal action from banks and customers. Chancellor of the Exchequer Rachel Reeves has promised to overhaul or even scrap regulatory bodies that fail to support economic growth. Against that backdrop, the FOS’ previous Chief Executive Officer Abby Thomas and Chair Zahida Manzoor left last year after a dispute over charging claims management professionals to refer cases. The FOS received more than 305,000 complaints in the 2024 to 2025 financial year, and expects to resolve 245,000 cases in the coming financial year. About 60,000 of these will be motor finance complaints, which were delayed by the legal disputes that reached the Supreme Court last year. The FCA’s redress program to determine how motor finance companies will compensate affected consumers is due to be finalized within weeks and is expected to cost lenders several billion pounds.
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Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Spotify . Getty Images Survey Monday The U.S. national average gas price is currently $3.72, according to AAA, climbing nearly $0.80 in a single month. At what price per gallon would you significantly change your daily commuting or travel habits? Click here to take the poll and don...
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Spotify . Getty Images Survey Monday The U.S. national average gas price is currently $3.72, according to AAA, climbing nearly $0.80 in a single month. At what price per gallon would you significantly change your daily commuting or travel habits? Click here to take the poll and don't forget to share your thoughts in the WSB comments section . Good morning! Here's the latest in trending: The Oscars: 'One Battle After Another' was the big winner of the night , with six wins for legacy studio Warner Bros. Discovery ( WBD ). Hormuz crisis: Saudi Arabia offers oil buyers an alternate route , while UN climate chief warns against fossil fuel reliance . Mark your calendar: If history repeats itself, Nvidia's ( NVDA ) GTC 2026 event could provide another catalyst for the stock . Crude awakening There have been many concerns amid the closure of the Strait of Hormuz, ranging from a prolonged oil shock to suspensions in economic activity . Also on the radar has been trade relations , as well as what happens to Iran's uranium stockpile . The headlines have helped send West Texas Intermediate ( CL1:COM ) above $100 per barrel again, with the U.S. benchmark surging more than 40% this month to its highest level since 2022 . Snapshot: President Trump began the weekend questioning why the U.S. is "maintaining the Hormuz Strait when it’s really there for China and many other countries." He called for them to "protect their own territory" as "it's the place from which they get their energy," but later said that many countries, in conjunction with the U.S., will be sending warships to "keep the Strait open and safe." Trump also flagged NATO, saying that after helping the alliance, it would "be interesting to see what country wouldn’t help us with a very small endeavor." Iran deal 'not good enough yet' as Kharg strikes intensify Elsewhere, National Economic Council Direct...
geckophotos/iStock via Getty Images Thesis Rhythm Pharmaceuticals ( RYTM ) reported a 4Q25 GAAP EPS of -$0.73, a figure which beat estimates by about $0.07. Revenue came in at $57.3 million, up almost 37% year-over-year and $1.09 million above expectations. For FY26, the expectations are for Non-GAAP operating expenses to fall in the range of $385 to 415 million, including SG&A of $197to 213 milli...
geckophotos/iStock via Getty Images Thesis Rhythm Pharmaceuticals ( RYTM ) reported a 4Q25 GAAP EPS of -$0.73, a figure which beat estimates by about $0.07. Revenue came in at $57.3 million, up almost 37% year-over-year and $1.09 million above expectations. For FY26, the expectations are for Non-GAAP operating expenses to fall in the range of $385 to 415 million, including SG&A of $197to 213 million and R&D of $188 to 202 million. This would exclude stock-based compensation. The bull case here is that if we see the FDA approves setmelanotide for acquired hypothalamic obesity, Rhythm would then be looking at a significantly expanded TAM for ultra-rare genetic obesity disorders. It could bring the total global pool of roughly 25,000 to 28,000 patients, depending on later European regulatory decisions. However, the first big hurdle is the PDUFA decision on March 20th. It could make acquired hypothalamic obesity the largest single indication for the drug, and keep in mind that it currently has no approved therapies. It's a pretty major commercial opportunity for Rythem, as I'll explain, and could add several hundred million dollars in incremental annual revenue. Rhythm Pharmaceuticals, Inc. FY25 financial overview Rhythm reported some pretty strong revenue growth for FY25, with the numbers mainly driven by the expanding global demand for their lead therapy, IMCIVREE or setmelanotide. 4Q25 net product revenue hit $57.3 million, which was about a 37% increase compared with the same quarter back in 2024 and a decent 12% sequential increase from 3Q25. For FY25, revenue managed to reach $194.8 million, up from $130.1 million in FY24. So it’s clear we're seeing continued adoption of IMCIVREE, especially in approved indications such as rare genetic obesity disorders, which would also include Bardet-Biedl syndrome. We also saw this revenue growth supported by a rising number of patients on reimbursed therapy and more international access. The U.S., however, was still the larges...
Mesut Dogan Commerzbank AG ( CRZBF ) rejected UniCredit S.p.A.’s ( UNCFF ) unsolicited takeover attempt, saying the Italian bank’s offer doesn’t include a premium for shareholders and lacks key terms of a value-creating transaction, Bloomberg News reported. “We reject this takeover attempt, just as Commerzbank’s management, the works council, and the federal government have done,” Frauke Heiligens...
Mesut Dogan Commerzbank AG ( CRZBF ) rejected UniCredit S.p.A.’s ( UNCFF ) unsolicited takeover attempt, saying the Italian bank’s offer doesn’t include a premium for shareholders and lacks key terms of a value-creating transaction, Bloomberg News reported. “We reject this takeover attempt, just as Commerzbank’s management, the works council, and the federal government have done,” Frauke Heiligenstadt, an SPD member of the lower house of parliament’s finance committee, said, according to the report. UniCredit ( UNCFF ) launched an offer to raise its stake in Commerzbank ( CRZBF ) above 30% earlier in the day, offering 0.485 UniCredit ( UNCFF ) shares for each Commerzbank ( CRZBF ) share, valuing the bank at about €30.80 per share (~4% premium). More on Commerzbank AG, UniCredit S.p.A. UniCredit: Premium Profitability Deserves A Premium Valuation Commerzbank AG (CRZBY) Q4 2025 Earnings Call Transcript Commerzbank AG 2025 Q4 - Results - Earnings Call Presentation UniCredit offers €30.80 per share to raise Commerzbank stake above 30% ClearBridge International Growth ACWI Ex-US Strategy adds and exits multiple positions
Getty Images Introduction While I'll admit I remain somewhat skeptical of crypto assets like Bitcoin ( BTC-USD ), their rapid adoption make it difficult to ignore. I recently added crypto exposure to my portfolio by adding the iShares Bitcoin Trust ETF ( IBIT ), but have been watching the Nicholas Crypto Income ETF ( BLOX ) for a while now as well. With the crypto winter ongoing, it's getting hard...
Getty Images Introduction While I'll admit I remain somewhat skeptical of crypto assets like Bitcoin ( BTC-USD ), their rapid adoption make it difficult to ignore. I recently added crypto exposure to my portfolio by adding the iShares Bitcoin Trust ETF ( IBIT ), but have been watching the Nicholas Crypto Income ETF ( BLOX ) for a while now as well. With the crypto winter ongoing, it's getting harder and harder to ignore BLOX's 36% distribution yield. If you follow me, then it's likely you know I recently started a new portfolio, focused entirely on generating income. While I do expect further volatility for BLOX and other crypto-related assets, I remain bullish on crypto due to worldwide acceptance and view the sell-off as macro driven liquidation. As a result, I believe BTC-USD will recover at some point and have contemplated adding BLOX to my portfolio. In the meantime, income-focused investors can collect a 36% weekly distribution yield while they wait for the recovery. Previous Buy Thesis It's been a little over 3 months since I last covered BLOX , assigning them a buy rating. Their unique strategy and weekly distributions were attractive for long-term investors bullish on crypto. Moreover, their outperformance vs the YieldMax Crypto Industry & Tech Option Income ETF ( LFGY ) made them attractive despite their short track record. Since, BLOX has underperformed, down over 21% in comparison to the S&P ( SP500 ), down close to 3%. Seeking Alpha Strategy What makes BLOX different from other crypto-focused ETFs is the fund's unique strategy of capital appreciation first, income second approach. How the fund does this is by blending a synthetic call strategy to get exposure to crypto. This means that they don't actually own crypto, but sells options. In its portfolio, BLOX holds other ETFs like the Fidelity Bitwise Origin Bitcoin Fund ETF ( FBTC ), iShares Ethereum Trust ETF ( ETHA ), & VanEck Bitcoin ETF ( HODL ), all top 10 holdings. BLOX Additionally, BLOX holds co...
Beijing has increased its inspections on Panama-flagged vessels entering Chinese ports, a source from the shipping industry said, an action intended to raise the Latin American country’s stress level after its courts voided the operating rights of Hong Kong-based conglomerate CK Hutchison in the Panama Canal. Port state control (PSC) – the inspection regime countries may deploy to verify the compl...
Beijing has increased its inspections on Panama-flagged vessels entering Chinese ports, a source from the shipping industry said, an action intended to raise the Latin American country’s stress level after its courts voided the operating rights of Hong Kong-based conglomerate CK Hutchison in the Panama Canal. Port state control (PSC) – the inspection regime countries may deploy to verify the compliance of foreign ships with various international standards – was being used as a form of leverage as tensions continue to roil over the vital shipping lane, the source told the South China Morning Post. “The intensification of inspections on Panama-flagged vessels is a move to ramp up pressure on the country amid the ongoing port dispute.” Advertisement China’s Ministry of Foreign Affairs had pledged to resolutely safeguard the legitimate rights and interests of its enterprises after Panama’s top court annulled the port concession granted to a subsidiary of CK Hutchison in late January. The concession, deemed “unconstitutional” by the Panamanian court, had been in place in various forms since the 1990s; the judicial decision was made after US President Donald Trump threatened to “take back” the canal and levied repeated allegations of Chinese influence on global shipping throughout the first year of his second term. Advertisement In February, Panamanian authorities handed temporary, separate control of the two ports to units of the Danish shipping giant Maersk and the Geneva-based MSC. Beijing’s increased rate of inspection could have a significant ripple effect on the industry. For its ease of adoption and utility in avoiding other countries’ strict maritime regulations, Panama is among the world’s most common ship registries – trailing only Liberia – and vessel registration is a significant component of the country’s economy.
The Mideast war’s disruption of oil and gas flows is prompting new interest from Asian countries in importing more energy from the US, Interior Secretary Doug Burgum said. “They’re looking to diversify their energy supplies,” Burgum told Bloomberg at the end of two days of talks with Asian-Pacific nations in Tokyo. The near-closure of the Strait of Hormuz — which provides passageway for roughly a ...
The Mideast war’s disruption of oil and gas flows is prompting new interest from Asian countries in importing more energy from the US, Interior Secretary Doug Burgum said. “They’re looking to diversify their energy supplies,” Burgum told Bloomberg at the end of two days of talks with Asian-Pacific nations in Tokyo. The near-closure of the Strait of Hormuz — which provides passageway for roughly a fifth of the world’s oil and gas supplies — and the suspension of the world’s largest liquefied natural gas export facility in Qatar provided an undeniable backdrop for the discussions at the inaugural Indo-Pacific Energy Security Ministerial and Business Forum. Although the summit had been planned months earlier as a way to deepen collaboration on energy and mineral supply chains between the US and its Asian-Pacific allies, the conflict in the Middle East added new focus to the effort. “The urgency they have to do the deal has gone up, because so many of the countries that are here” are dependent on supplies that travel through the strait, Burgum said. Administration officials saw the talks as a vindication of President Donald Trump ’s year-old energy dominance agenda, with efforts to accelerate the permitting of US oil, gas and coal projects while lifting regulatory requirements that hiked their operational costs. Trump has also moved to take control of Venezuela’s oil flows and boost the country’s crude output, following the capture of its former President Nicolas Maduro in January. Read more: Trump Woos Venezuela With Potential Deals as Relations Reset In talks, Japan’s Trade Minister Ryosei Akazawa repeatedly emphasized the country’s reliance on crude that transits the Strait of Hormuz for some 90% of its oil supplies, said people familiar with the matter who asked not to be named because the discussions were private. When asked on Sunday about Japan’s plans to source oil from alternative sources, Akazawa declined to comment, adding that the private sector is taking on...
The semiconductor sector has suddenly found itself caught in an unexpected storm thanks to rising oil (CBK26) prices. As tensions escalate in the Middle East, particularly around shipping routes through the Strait of Hormuz, global energy markets have turned volatile. The disruption has pushed crude oil prices sharply higher, briefly surging past the $100 mark and sending ripples through financial...
The semiconductor sector has suddenly found itself caught in an unexpected storm thanks to rising oil (CBK26) prices. As tensions escalate in the Middle East, particularly around shipping routes through the Strait of Hormuz, global energy markets have turned volatile. The disruption has pushed crude oil prices sharply higher, briefly surging past the $100 mark and sending ripples through financial markets. And semiconductor stocks are not immune from the tremors. At first glance, oil and chips might seem worlds apart. But the connection becomes clearer when we look at the energy backbone of modern computing. Semiconductors sit at the heart of everything from cloud computing to artificial intelligence (AI), powering the massive data centers that train and run AI models. These facilities are extremely energy-intensive, relying on power-hungry processors and sophisticated cooling systems. When oil prices surge, energy markets tighten broadly, pushing up electricity costs and potentially slowing the pace at which tech giants can build new data centers and buy more chips. There is also a supply-chain angle. Critical materials like helium and bromine are essential for semiconductor manufacturing, helping cool equipment and support chip lithography. Any more disruption to transport routes in the region could tighten supply further. Against this backdrop, the iShares Semiconductor ETF (SOXX) declined 3.5% as of Thursday’s close, and chip heavyweights like Nvidia (NVDA) and Advanced Micro Devices (AMD) slid as well as investors digest the risks. So, is this energy-driven pullback just a temporary shakeout, or an opportunity to pick up these two semiconductor leaders at a discount? Should You Buy the Dip in Nvidia Stock? Nvidia hardly needs an introduction. Once celebrated as the king of gaming graphics, it is now the backbone of modern computing. Its GPUs power data centers, AI, robotics, and immersive digital worlds. The CUDA software platform locked developers into a power...
The semiconductor sector has suddenly found itself caught in an unexpected storm thanks to rising oil (CBK26) prices. As tensions escalate in the Middle East, particularly around shipping routes through the Strait of Hormuz, global energy markets have turned volatile. The disruption has pushed crude oil prices sharply higher, briefly surging past the $100 mark and sending ripples through financial...
The semiconductor sector has suddenly found itself caught in an unexpected storm thanks to rising oil (CBK26) prices. As tensions escalate in the Middle East, particularly around shipping routes through the Strait of Hormuz, global energy markets have turned volatile. The disruption has pushed crude oil prices sharply higher, briefly surging past the $100 mark and sending ripples through financial markets. And semiconductor stocks are not immune from the tremors. At first glance, oil and chips might seem worlds apart. But the connection becomes clearer when we look at the energy backbone of modern computing. Semiconductors sit at the heart of everything from cloud computing to artificial intelligence (AI), powering the massive data centers that train and run AI models. These facilities are extremely energy-intensive, relying on power-hungry processors and sophisticated cooling systems. When oil prices surge, energy markets tighten broadly, pushing up electricity costs and potentially slowing the pace at which tech giants can build new data centers and buy more chips. There is also a supply-chain angle. Critical materials like helium and bromine are essential for semiconductor manufacturing, helping cool equipment and support chip lithography. Any more disruption to transport routes in the region could tighten supply further. Against this backdrop, the iShares Semiconductor ETF (SOXX) declined 3.5% as of Thursday’s close, and chip heavyweights like Nvidia (NVDA) and Advanced Micro Devices (AMD) slid as well as investors digest the risks. So, is this energy-driven pullback just a temporary shakeout, or an opportunity to pick up these two semiconductor leaders at a discount? Should You Buy the Dip in Nvidia Stock? Nvidia hardly needs an introduction. Once celebrated as the king of gaming graphics, it is now the backbone of modern computing. Its GPUs power data centers, AI, robotics, and immersive digital worlds. The CUDA software platform locked developers into a power...
MALVERN, Pa., March 16, 2026 (GLOBE NEWSWIRE) -- Annovis Bio, Inc. (NYSE: ANVS) (“Annovis” or the “Company”), a Phase 3 clinical-stage biotechnology company developing the investigational oral therapy, buntanetap, for neurodegenerative diseases such as Alzheimer's disease (AD) and Parkinson's disease (PD), today announced business updates and reported financial results for the fiscal year 2025. In...
MALVERN, Pa., March 16, 2026 (GLOBE NEWSWIRE) -- Annovis Bio, Inc. (NYSE: ANVS) (“Annovis” or the “Company”), a Phase 3 clinical-stage biotechnology company developing the investigational oral therapy, buntanetap, for neurodegenerative diseases such as Alzheimer's disease (AD) and Parkinson's disease (PD), today announced business updates and reported financial results for the fiscal year 2025. In 2025, Annovis achieved a significant milestone in its clinical development program with the initiation of a pivotal Phase 3 clinical trial in early AD. The year was largely dedicated to the activation of clinical sites and the enrollment of participants across the United States. The Company also reported encouraging data from both its previous Alzheimer's and Parkinson's programs, demonstrating a potential disease-modifying signal for buntanetap through reductions in biomarkers of amyloid and tau pathology, neuroinflammation, and neurodegeneration. Building on this momentum, Annovis recently initiated an open-label extension (OLE) study in PD. "The year 2025 was a landmark period for Annovis, one in which we took decisive steps toward bringing buntanetap to patients," said Maria Maccecchini, Ph.D., Founder and CEO of Annovis. "We initiated our pivotal Phase 3 AD study and later launched an OLE PD study, both critical milestones on the path to an NDA submission. Throughout the year, we remained focused on designing, preparing, and executing these studies with the highest standards of rigor while maintaining our scientific presence through key conferences, meetings, and publications. Equally important, we also revealed new biomarker data on buntanetap from our ongoing analysis of the completed studies, reinforcing the drug’s therapeutic potential." Clinical progress Alzheimer’s disease In February 2025, Annovis launched a pivotal Phase 3 study (NCT06709014) evaluating buntanetap over a period of 18 months as both a symptomatic (6 months) and a potential disease-modifying (18...
Nvidia has been the star of the artificial intelligence (AI) show so far, as this tech giant sells the fastest and most powerful AI chips. Customers put these graphics processing units (GPUs) to work in important ways, such as powering the training and inference of large language models. This has resulted in explosive earnings growth and a stock price that's climbed 1,300% over five years. But Nvi...
Nvidia has been the star of the artificial intelligence (AI) show so far, as this tech giant sells the fastest and most powerful AI chips. Customers put these graphics processing units (GPUs) to work in important ways, such as powering the training and inference of large language models. This has resulted in explosive earnings growth and a stock price that's climbed 1,300% over five years. But Nvidia isn't the only high-potential AI company around. And investors looking for additional opportunities in the space may turn to another company that's earlier in its AI story and showing tremendous progress. I'm talking about networking giant, Broadcom (AVGO 4.11%). The company has built an empire in this field -- in fact, more than 99% of internet traffic touches Broadcom technology. The AI boom has supercharged demand for Broadcom's networking and compute abilities, and the company emerged as a significant player when it launched its XPU technology in 2024. With all of this in mind, could Broadcom become the next Nvidia? Let's find out. Broadcom's custom chips So, first, it's important to keep in mind that while Nvidia and Broadcom both sell networking equipment and chips, their selection isn't exactly the same. In fact, they aren't truly direct competitors. Nvidia's GPUs are general-use, providing unequaled power for a variety of projects. Broadcom's XPUs are custom chips, designed to suit a specific purpose. This means that Broadcom's growth doesn't necessarily hurt Nvidia's market position, and the great news for Broadcom here is that the company doesn't have to "beat Nvidia" to succeed. A look at Broadcom's latest earnings report offers us some clues about what's to come. The company has seen mind-boggling growth in recent times. It works with six major customers to develop XPUs to suit their needs, and in the quarterly report, it said these partnerships are "deep, strategic, and multiyear." Last fall, Broadcom said a customer had placed a $10 billion order -- and la...
MadamLead/iStock via Getty Images This monthly article series aims at a top-down analysis of the utilities sector based on value, quality, and momentum. It may also help analyze sector ETFs such as State Street Utilities Select Sector SPDR ETF ( XLU ) and Virtus Reaves Utilities ETF ( UTES ), whose holdings are used to calculate these metrics. Shortcut The next two paragraphs in italics describe t...
MadamLead/iStock via Getty Images This monthly article series aims at a top-down analysis of the utilities sector based on value, quality, and momentum. It may also help analyze sector ETFs such as State Street Utilities Select Sector SPDR ETF ( XLU ) and Virtus Reaves Utilities ETF ( UTES ), whose holdings are used to calculate these metrics. Shortcut The next two paragraphs in italics describe the dashboard methodology. They are necessary for new readers to understand the metrics. If you are used to this series or if you are short of time, you can skip them and go to the charts. Base Metrics I calculate the median value of five fundamental ratios for each industry: Earnings Yield ("EY"), Sales Yield ("SY"), Free Cash Flow Yield ("FY"), Return on Equity ("ROE"), Gross Margin ("GM"). The reference universe includes large companies in the U.S. stock market. The five base metrics are calculated on the trailing 12 months. For all of them, higher is better. EY, SY, and FY are medians of the inverse of Price/Earnings, Price/Sales, and Price/Free Cash Flow. They are better for statistical studies than price-to-something ratios, which are unusable or un available when the "something" is close to zero or negative (for example, companies with negative earnings). I also look at two momentum metrics for each group: the median monthly return (RetM) and the median annual return (RetY). I prefer medians to averages because a median splits a set into a good half and a bad half. A capital-weighted average is skewed by extreme values and the largest companies. My metrics are designed for stock-picking rather than index investing. Value A nd Quality Scores I calculate historical baselines for all metrics. They are noted respectively as EYh, SYh, FYh, ROEh, GMh, and they are calculated as the averages over a look-back period of 11 years. For example, the value of EYh for hardware in the table below is the 11-year average of the median Earnings Yield in hardware companies. The Value Sc...
Alones Creative/iStock via Getty Images Introduction I enjoyed the first two months of this year way more than the past few weeks. And I’m not just saying that because I made substantial gains during that period. As much as I love my job, dealing with geopolitical volatility is extremely tough, especially because it’s very hard to predict what’s next unless you’re an insider who sits at the table ...
Alones Creative/iStock via Getty Images Introduction I enjoyed the first two months of this year way more than the past few weeks. And I’m not just saying that because I made substantial gains during that period. As much as I love my job, dealing with geopolitical volatility is extremely tough, especially because it’s very hard to predict what’s next unless you’re an insider who sits at the table when the president makes a decision. As I have written before (don’t worry, I’m not recycling the whole story again), the market was already complex before the Iran War, as we were dealing with a very fragile growth recovery, massive AI disruption, affordability issues in housing, a lofty market valuation, and other things. Now, I think it’s fair to say that the market has become somewhat binary. And I don’t mean the obvious “the market is either going up or down” thing, but two major scenarios I see: My base case : the war in Iran turns into a lower-risk event where the Strait of Hormuz becomes de-risked, and supply chain risks ease. While tensions will likely remain elevated, it likely isn’t a major disruption risk anymore. I have spent way more time on this base case in recent days, but to avoid recycling all of that, this is the thesis in a nutshell. The most likely alternative to the base case : the war in Iran escalates, leading to prolonged, elevated oil prices and the inability to shield the U.S. consumer against these risks. Just like in 2007-2008 and 2022, it could lead to exploding recession odds (or an actual recession) and drag down the market, which still trades at a lofty valuation of 21x forward earnings (little room for error). Basically, every day in recent weeks has been about these two scenarios. If the odds of scenario 1 (my base case) rise, cyclical value stocks start to outperform again. Any hint of scenario 2 does the exact opposite, as it causes the dollar to rise, value stocks to plummet, and investors to worry about the market’s valuation. Oh, rig...
Dragon Claws/iStock via Getty Images Investment Thesis The elevated levels of geopolitical conflict unfolding in Iran have created a near-unprecedented supply shock for PGMs (precision-guided munitions) like Tomahawk missiles produced by defense contractor RTX Corp. (NYSE: RTX ). So far, America has been rapidly prioritizing the deployment of medium-to-long-range missiles like RTX's Tomahawk and o...
Dragon Claws/iStock via Getty Images Investment Thesis The elevated levels of geopolitical conflict unfolding in Iran have created a near-unprecedented supply shock for PGMs (precision-guided munitions) like Tomahawk missiles produced by defense contractor RTX Corp. (NYSE: RTX ). So far, America has been rapidly prioritizing the deployment of medium-to-long-range missiles like RTX's Tomahawk and other interceptor missiles to neutralize threats in the Middle East region over the last many months. And the rapid deployment of these missiles has created urgent needs by America and its allies to procure and replenish missile stockpiles like RTX's Tomahawk and other Standard Missiles. Recent manufacturing and procurement agreements struck between America's DoD (Department of Defense), the Pentagon, and key defense contractors like RTX put these companies in strong positions to ramp up production and meet critical demand levels quickly. For investors, this creates rare opportunities to gain exposure to RTX's unique advantage in this demand-supply imbalance that RTX looks to fill for America and its allies, reiterating my previous optimistic outlook on RTX's shares. Tomahawks - The Growth Anchor In June last year, I upgraded my views on RTX after noting critical improvements in "the long-term outlook" for the defense contractor amid strong demand signals from the rapidly evolving geopolitical situation. Since then RTX's shares have advanced 44% vs. the ~9-10% returns delivered by the S&P 500, reflecting positively on my timely views. I continue to believe in my views that RTX's shares would offer further upside given America's recent expanded involvement in the Middle East, especially over the past 2 weeks. Since March 1st, America has launched Operation Epic Fury, a large-scale joint military campaign by America and Israel against Iran, which has seen over 1700 targets being struck across the region . But Operation Epic Fury comes after successive years of rising conflicts...
AnyTech365 MARBELLA, Spain, March 16, 2026 (GLOBE NEWSWIRE) -- Leading AI-powered cybersecurity company AnyTech365 has teamed up with a host of similar international companies to take on online fraudsters, who are estimated to cost individuals and businesses around $442 billion USD per year. The Spain-based company has teamed up with global tech powerhouses to launch Scam.org , a platform leading ...
AnyTech365 MARBELLA, Spain, March 16, 2026 (GLOBE NEWSWIRE) -- Leading AI-powered cybersecurity company AnyTech365 has teamed up with a host of similar international companies to take on online fraudsters, who are estimated to cost individuals and businesses around $442 billion USD per year. The Spain-based company has teamed up with global tech powerhouses to launch Scam.org , a platform leading a new fightback against online scammers. The initiative is being launched under the umbrella of The Global Anti-Scam Alliance (GASA), recently joined by AnyTech365 as a founding member, alongside Amazon, Google, McAfee, Meta and Microsoft, plus many others. The new platform - which uses the latest in high-tech AI chatbot - offers scam education, prevention, detection, reporting, and victim support to “over 97% of the world's internet users” via an incredible 50 different languages. Until now, victims have faced a maze of websites and other places to report online fraud, each with their own support hotlines. GASA aims to unify these efforts into one global hub. Scam.org will cover five critical areas: Education : Providing free learning material and continuous anti-scam education to spot scams Verification : Instant AI analysis paired with threat intelligence expertise of suspicious messages, websites, calls, or offers to determine legitimacy Prevention : Immediate access to protective tools and best practices tailored to individual risk profiles Reporting : Streamlined scam reporting (to be rolled out in the coming months) that will feed into a ‘Global signal exchange’ enabling faster global disruption of criminal operations Victim Support: Directly connect victims to verified assistance organizations in the user's country and language Scam.org is powered by partnerships with OpenAI and alongside similar cybersecurity organizations to AnyTech365 including Netcraft, Cube AI, Falkin and Cube3. For personal victim support, the website collaborates with other victim support org...
Key Points Broadcom and Nvidia both serve the AI market with chips and networking equipment. Broadcom forecasts that it may generate $100 billion in AI revenue from chips alone in 2027. 10 stocks we like better than Broadcom › Nvidia has been the star of the artificial intelligence (AI) show so far, as this tech giant sells the fastest and most powerful AI chips. Customers put these graphics proce...
Key Points Broadcom and Nvidia both serve the AI market with chips and networking equipment. Broadcom forecasts that it may generate $100 billion in AI revenue from chips alone in 2027. 10 stocks we like better than Broadcom › Nvidia has been the star of the artificial intelligence (AI) show so far, as this tech giant sells the fastest and most powerful AI chips. Customers put these graphics processing units (GPUs) to work in important ways, such as powering the training and inference of large language models. This has resulted in explosive earnings growth and a stock price that's climbed 1,300% over five years. But Nvidia isn't the only high-potential AI company around. And investors looking for additional opportunities in the space may turn to another company that's earlier in its AI story and showing tremendous progress. I'm talking about networking giant, Broadcom (NASDAQ: AVGO). The company has built an empire in this field -- in fact, more than 99% of internet traffic touches Broadcom technology. 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 » The AI boom has supercharged demand for Broadcom's networking and compute abilities, and the company emerged as a significant player when it launched its XPU technology in 2024. With all of this in mind, could Broadcom become the next Nvidia? Let's find out. Broadcom's custom chips So, first, it's important to keep in mind that while Nvidia and Broadcom both sell networking equipment and chips, their selection isn't exactly the same. In fact, they aren't truly direct competitors. Nvidia's GPUs are general-use, providing unequaled power for a variety of projects. Broadcom's XPUs are custom chips, designed to suit a specific purpose. This means that Broadcom's growth doesn't necessarily hurt Nvidia's market position, and the great news for Broadcom here ...