Abstract Aerial Art/DigitalVision via Getty Images Two months after my previous coverage , W&T Offshore, Inc. ( WTI ) has already delivered 55% returns and justified my strong buy rating. This makes sense since it reflected the soaring oil prices since March. Now, one may think that it already had a good run after surging to its one-year high in a short period. Valuation adheres to it as the stock appears fully priced in line with its fundamentals. Technicals also warrant extra caution, as the stock appears overbought. Q1 2026: A Stronger Beginning Amid Volatility The first three to five months of 2026 were a roller coaster ride for oil producers. Accelerating inflation and sharp oil price swings took place simultaneously, driven by the turmoil in the Middle East. While many industries grappled with market risks and cost pressures, many oil producers enjoyed and took advantage of the situation. Even offshore players like W&T Offshore, Inc., felt the positive spillovers. This was evident in its most recent performance. In Q1 2026, its operating revenue amounted to $150.0M , up by 15.5% YoY from $129.9M and by 24.2% QoQ from $121.7M. This was also higher than in my previous coverage, which shows its sustained rebound from its weakness in Q2 2025. In fact, this was its strongest performance in the past seven to eight quarters. This was impressive despite the volatile oil and gas prices. Its higher oil and gas sales volume during the quarter primarily drove its growth. This showed its strong demand despite the increasing prices of its products. In fact, the average natural gas price reached its one-year high of $5.41 per Mcf. Meanwhile, the sharp oil price hike in March amid the Iran War also strengthened its oil sales. With that, its acquisitions in the Gulf of Mexico in recent years worked to its favor as sharp oil and natural gas sales price swings worked to its advantage during the quarter. Operating Data (WTI Q1) Meanwhile, its operating expenses decreased despite ...

At Google I/O, the company unveiled Managed Agents in its Gemini API — a service that promises to collapse weeks of agent deployment work into a single API call. It's also a sign that Google believes its ecosystem, including the newly launched Antigravity CLI, is ready to own the execution layer end-to-end. Before a single agent is written, teams are already spending days on the unglamorous work: standing up execution environments, managing sandboxes, wiring tool call infrastructure. Model providers like Anthropic have launched platforms to handle much of that work — but Google's approach is different. Google said in a blog post that Managed Agents in the Gemini API abstracts “away the complexity so that you can focus on your product experience and agent behavior.” The service is available in preview via new custom templates in Google AI Studio. The growth has introduced a real architectural question: should agent management live at the execution layer — embedded in the model or its harness — or at the infrastructure layer, as a separate runtime? Comparing Google’s approach Until recently, agent orchestration relied on frameworks that sat above the model, directing agents and letting teams control routing and execution separately. That layer is now being absorbed by the platforms themselves. Recent platforms like Claude Managed Agents embed orchestration at the model layer rather than on a separate runtime platform. The idea is that the model owns the reasoning and orchestration layers, and enterprises have control over execution. AWS, through new capabilities on Bedrock AgentCore, adds managed harnesses that stitch together the upfront tasks for deploying agents. Google's approach goes further, optimizing the model, harness, and sandbox together and running everything in secure Google-managed environments. René Sultan of Ramp, cited in Google's announcement, said the shift is concrete: "The real shift with Gemini Managed Agents is that the agent runtime moves into ...

Elon Musk’s xAI lost $6.4 billion from operations on just $3.2 billion in revenue in 2025, according to SpaceX’s IPO filings. And the losses are poised to grow. SpaceX’s filing reveals plans to scale Grok to “multiple trillions of parameters,” a dramatic boost that will likely require significant additional compute spend. Elon Musk merged his AI company xAI — which had previously acquired his social media platform X (formerly Twitter) — with his rocket and satellite company SpaceX in February before announcing that he’d take the combined company public this year. While AI competitors OpenAI and Anthropic are also eyeing public debuts in 2026, SpaceX’s is expected to be one of the largest in history with a potential $1.75 trillion valuation. The filing marks the first public glimpses into xAI, and therefore X’s, financials. In 2024, xAI recorded a loss of $1.56 billion on $2.62 billion in revenue. By 2025, losses had ballooned to $6.4 billion on $3.2 billion, meaning the gap between what xAI earns and spends is widening. Meanwhile, competitor (and customer) Anthropic reportedly expects a 130% revenue jump to $10.9 billion in the second quarter, leading to its first operating profit. The jump in revenue from 2024 to 2025 came in large part from “AI solutions and infrastructure revenue” totalling $465 million, which includes $365 million in X and Grok subscription revenue, and $88 million in data licensing. An additional $116 million came from advertising. AI segment capital expenditures climbed from $12.7 billion in 2025 to $7.7 billion in the first quarter of 2026 alone. That’s an annualized capex run rate of about $30.8 billion, more than doubling year-over-year. So far, that investment has resulted in growing, but still limited, user numbers. Per the filing, SpaceX recorded 117 million monthly active users for Grok AI features as of March 2026, out of 550 million total MAUs across Grok and X combined. That implies only one-fifth of the combined ecosystem is activel...

Tesla stock (US88160R1014): investors weigh latest delivery trends and price cuts AD HOC NEWS

The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +1.08%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.66%. June E-mini S&P futures (ESM26) rose +0.96%, and June E-mini Nasdaq futures (NQM26) rose +1.57%. Stock indexes finished sharply higher on Wednesday, recovering most of this week’s losses, amid a plunge in crude oil prices and lower bond yields. Crude oil prices sank by more than 5% on hopes for a deal to end the Iran war, knocking inflation expectations and bond yields lower. The 10-year T-note yield fell -10 bp to 4.57%, falling back sharply from Tuesday’s 16-month high. Join 200K+ Subscribers: Semiconductor stocks also rallied on Wednesday, providing support to the broader market. Nvidia rose more than +1% ahead of its earnings results after Wednesday’s close. Nvidia’s earnings will provide an update on the state of the AI economy, with Q1 sales expected to be up 80%, but the markets will be focused on what the company has to say about ramping up production and fending off competitors. The minutes of the April 28-29 FOMC meeting were hawkish as "many" policymakers called for the Fed to drop its easing bias and signal its next move could be an interest rate increase. Also, most of the meeting's participants said that "some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%." US MBA mortgage applications fell -2.3% in the week ended May 1, with the purchase mortgage sub-index down -4.1%, and the refinancing mortgage sub-index down -0.1%. The average 30-year fixed rate mortgage rose +10 bp to 6.56% from 6.46% in the prior week. WTI crude oil prices (CLM26) remain extremely volatile and are susceptible to headlines from the Iran war. Prices plummeted by more than -5% on Wednesday after President Trump said the US is in the "final stages" with Iran, bolstering speculation that crude supplies will soon start flowing out of the Strait o...

gorodenkoff/iStock via Getty Images Beating quarterly estimates and issuing strong guidance for the upcoming quarter were not enough to support Analog Devices ( ADI ) share price after today's earnings release. The stock is down by more than 5% in the early trading hours, and the daily performance is hardly a surprise. After delivering a total return of almost 90% over the past year, it is quite easy for the market to get carried away and correct its near-term expectations. ADI's past 12-month performance is even comparable to that of the broader semiconductors sector ETF ( SOXX ), which has top holdings comprised of the high-flying Nvidia ( NVDA ), AMD ( AMD ), and Broadcom ( AVGO ). Data by YCharts The Q2 report and the reaction that followed were identical to what we saw exactly a year ago when I upgraded ADI to a Buy and showed why investors should not get dissuaded from their bullish views solely on the basis of one quarterly report. Since then, ADI's relative to that of the S&P 500 could be seen below. Seeking Alpha Fast forward to today, and we have a stock that has nearly doubled over the past year, and the market is reacting negatively to an excellent report as expectations adjust. This does not signal potential problems ahead, albeit investors should be mindful of the elevated valuation multiples (more on that later). Expected Performance Overall, this and previous quarterly results were largely anticipated. Not in terms of meeting or beating the exact estimates, but rather in terms of the general direction of the business. Reported earnings per share (EPS) increased to $2.4 during the second quarter of FY 2026, which is more than double the amount reported in the same period a year ago. The mid-range of the Q3 EPS guidance assumes 8% sequential growth, which, although it is not as impressive as this quarter's performance, is still a significant increase when annualized. Prepared by the author , using data from Seeking Alpha and Earnings Releases The main ...

AI Is Making Business Email Compromise Nearly Impossible To Spot Authored by Adam H. Douglas via The Epoch Times (emphasis ours), Business email compromise (BEC) is a targeted fraud scheme in which criminals impersonate vendors, executives, or accountants to steal money from businesses. AI has made these attacks dramatically harder to detect by generating personalized emails that mirror real writing styles and existing business relationships. Criminals are using AI to create highly convincing business email scams that can drain company accounts. Who is Danny/Shutterstock The FBI reported more than $20 billion in internet crime losses in 2025, with BEC ranked as the second-largest attack method. Small businesses are the primary target. There are, however, five cost-free verification steps that can significantly reduce your exposure. What Is Business Email Compromise? A BEC is not your typical phishing email. There is often no suspicious link, no misspelled bank name, and no “lottery prize.” BECs in 2026 are targeted, researched, and increasingly indistinguishable from a legitimate message sent by someone you already work with. The Core BEC Scheme A criminal impersonates a trusted contact, such as a vendor, your accountant, or your own CEO, and requests a wire transfer, an invoice payment, or a change to banking details. By the time you realize something is wrong, the money is gone. Wire transfers are rarely reversible once they leave the domestic banking system. Why AI Has Made This Significantly Worse For years, spotting a BEC email meant looking for bad grammar, awkward phrasing, or a sender name that did not quite match the domain. That approach no longer works. AI tools can now: Scrape LinkedIn profiles, websites, and public business filings to map your vendor relationships and internal structure. Analyze writing samples to clone the tone and style of a specific person. Generate emails that reference real projects , real invoice numbers, and real business history...

Source: Bloomberg, 5:49

格隆汇5月21日｜日本将围绕能源措施动用5000亿日元储备资金。

$1.776 billion fund and audit ban raise many new questions for Trump and the IRS

Earnings call transcript: NVIDIA Q1 2027 beats expectations, stock rises Investing.com

Earnings Call Insights: Roivant Sciences Ltd. (ROIV) Q4 2025 Management View CEO Matthew Gline said the quarter included “the preliminary open-label period data from the 1402 study in D2T RA” and a “planned spotlight… on mosliciguat,” alongside “some smaller updates on the brepocitinib program.” Gline highlighted brepocitinib progress and launch preparation, saying “a ton of work ongoing in commercial prep for the launch in DM, which assuming FDA goes as we expect it to, we'll launch by the end of September,” and added brepocitinib “was awarded breakthrough designation and break therapy designation for cutaneous sarcoidosis.” On IMVT-1402 in difficult-to-treat rheumatoid arthritis (D2T RA), Gline characterized the open-label results as “surprisingly good,” citing “73% of patients roughly with ACR 20 responses… over half of patients with an ACR 50 and over 1/3 of patients with an ACR 70,” and added the profile “was safe and well tolerated… nothing new drug-related from a safety signal perspective identified.” On mosliciguat (Pulmovant) in PH-ILD, CEO Drew Fromkin said a single dose in PH patients produced “a mean PVR reduction of greater than 30% and a mean peak PVR reduction of approximately 38%,” and that mosliciguat was “very well tolerated,” with “treatment-emergent adverse events being mild to moderate.” Gline provided a financial update and Moderna settlement timing, stating, “we also announced our $2.25 billion settlement with Moderna, and we expect to receive the first portion of that payment, the $950 million upfront in July,” and added Roivant had “$4.3 billion in cash and cash equivalents as of 3/31 before the Moderna settlement, no debt.” Outlook Gline said upcoming milestones include mosliciguat PH-ILD Phase IIb “top line data… expected in the second half” (later reiterated as “in the second half of 2026”), D2T RA “a pretty significant update later this year,” and IMVT-1402 CLE “top line data expected… in the second half.” For brepocitinib, Gline said Ro...

Elon Musk’s legal battle against OpenAI has hung over the ChatGPT maker for more than two years, threatening to unravel its restructuring as a for-profit business and undermine its plans to go public. Now that a judge has dismissed the billionaire’s case , OpenAI appears intent on moving ahead with its Wall Street debut. The company aims to file for an initial public offering in the coming days or weeks, according to a person familiar with the matter, with the goal of going public in the fall. The decision to push ahead with a listing this year could help it beat rival Anthropic to the public markets and compete for investors. Even with the trial out of the way, though, OpenAI still faces a mix of ongoing legal, competitive and business challenges that could impact its plans for an IPO, to say nothing of macro economic factors like inflation and geopolitical uncertainty. In the past year, OpenAI has seen heightened competition. Anthropic, once considered the underdog, is growing revenue at a rapid pace thanks to advances in its AI agent tools, grabbing market share from enterprise customers. The Claude maker is in talks to raise a new round of funding at a more than $900 billion valuation, which would eclipse OpenAI’s most recent private market value. And Google, once seen as lagging behind AI startups, has started hitting its stride – partly prompting OpenAI to declare a “code red” late last year. While Anthropic has made headlines recently for experiencing an 80-fold increase in annualized revenue, OpenAI has been rethinking its product lineup and shuffling leadership, as well as confronting new doubts about its growth following a report that it missed certain internal revenue and user targets. In response, OpenAI Chief Financial Officer Sarah Friar told Bloomberg the company is meeting its objectives and seeing a “vertical wall of demand” for its products. OpenAI has gained traction with its coding agent, Codex, now used by more than 4 million weekly users. Its l...

(Bloomberg) -- Elon Musk’s legal battle against OpenAI has hung over the ChatGPT maker for more than two years, threatening to unravel its restructuring as a for-profit business and undermine its plans to go public. Most Read from Bloomberg Now that a judge dismissed the billionaire’s case, OpenAI appears intent on moving ahead with its Wall Street debut. The company aims to file for an initial public offering in the coming days or weeks, according to a person familiar with the matter, with the goal of going public in the fall. The decision to push ahead with a listing this year could help it beat rival Anthropic to the public markets and compete for investors. Even with the trial out of the way, though, OpenAI still faces a mix of ongoing legal, competitive and business challenges that could impact its plans for an IPO, to say nothing of macro economic factors like inflation and geopolitical uncertainty. In the past year, OpenAI has seen heightened competition. Anthropic, once considered the underdog, is growing revenue at a rapid pace thanks to advances in its AI agent tools, grabbing market share from enterprise customers. The Claude maker is in talks to raise a new round of funding at a more than $900 billion valuation, which would eclipse OpenAI’s most recent private market value. And Google, once seen as lagging behind AI startups, has started hitting its stride – partly prompting OpenAI to declare a “code red” late last year. While Anthropic has made headlines recently for experiencing an 80-fold increase in annualized revenue, OpenAI has been rethinking its product lineup and shuffling leadership, as well as confronting new doubts about its growth following a report that it missed certain internal revenue and user targets. In response, OpenAI Chief Financial Officer Sarah Friar told Bloomberg the company is meeting its objectives and seeing a “vertical wall of demand” for its products. OpenAI has gained traction with its coding agent, Codex, now used by more...

格隆汇5月21日｜据彭博，华尔街高管亲自公关：为了争取主导SpaceX的首次公开募股（IPO），高盛集团首席执行官David Solomon（苏德巍）亲自在社交平台X（原名推特）上向马斯克发送私信，来展示该行对这一项目的绝对承诺。此次攻坚战由高盛几位最资深的顶级投资银行家亲自挂帅。高盛与SpaceX有着多年的业务合作基础，而苏德巍此次打破常规的亲自示好，成功帮助高盛赢得了这位超级大客户的青睐。 世纪巨案引发全面争夺： 过去几个月里，华尔街各大投行一直在为夺取SpaceX的IPO领头羊位置而激烈厮杀。据悉，SpaceX此次公开上市的目标估值将突破2万亿美元，并计划同时公开集资750亿美元。

Image source: The Motley Fool. Wednesday, May 20, 2026 at 5 p.m. ET CALL PARTICIPANTS Chief Executive Officer — Richard A. Hayne Co-President and Chief Operating Officer — Francis J. Conforti Chief Financial Officer — Melanie Marein-Efron Global CEO, Free People Group and Urban Outfitters — Sheila Harrington President, Anthropologie Group — Tricia D. Smith Chief Technology Officer — David A. Hayne President, Free People Movement — Andrea Perez President, Urban Outfitters North America — Shea Jensen TAKEAWAYS Net Sales -- $1.5 billion, representing 11% growth and marking a seventh consecutive quarter of record sales for Urban Outfitters URBN +4.06% ) -- $1.5 billion, representing 11% growth and marking a seventh consecutive quarter of record sales for Earnings Per Share (EPS) -- $1.30, up 12%, setting a record for the company. -- $1.30, up 12%, setting a record for the company. Total Retail Segment Comp Sales -- Increased 6% with every retail brand delivering positive comps, and digital comp growth slightly exceeding store comp growth. -- Increased 6% with every retail brand delivering positive comps, and digital comp growth slightly exceeding store comp growth. Nuuly Revenue -- Grew 35% due to a 33% rise in average active subscribers, adding over 110,000 compared to last year. -- Grew 35% due to a 33% rise in average active subscribers, adding over 110,000 compared to last year. Wholesale Segment Revenue -- Increased 25%, driven by double-digit growth in both specialty and department store channels. -- Increased 25%, driven by double-digit growth in both specialty and department store channels. Gross Profit Rate -- 36.6%, down 16 basis points, mostly due to the absence of a prior-year $5 million onetime benefit, partially offset by improved overall markdown rates. -- 36.6%, down 16 basis points, mostly due to the absence of a prior-year $5 million onetime benefit, partially offset by improved overall markdown rates. SG&A -- Increased 12%, including a $7 million lega...

(Bloomberg) -- Tesla Inc. has generated around $890 million in revenue from SpaceX and xAI since 2023, a substantial sum underscoring the extent of commingling across Elon Musk’s business empire. Most Read from Bloomberg In a regulatory filing released Wednesday, Musk’s recently combined rocket maker and artificial intelligence enterprise disclosed the purchase of about $131 million worth of Tesla Cybertrucks last year, confirming an earlier Bloomberg News report. The bulk of the transactions — including $506 million in 2025 and $191 million the year prior — involved Tesla selling Megapack energy-storage batteries to xAI, which SpaceX acquired in February. The figures were revealed in a prospectus detailing SpaceX’s operations and finances ahead of a planned initial public offering. Tesla previously disclosed portions of the sales in a regulatory filing last month. Musk’s companies have long been intertwined through financial investments, business agreements and overlapping investor bases, and they sometimes even share employees. Tesla and SpaceX are joining forces on a semiconductor manufacturing plant that their chief executive officer refers to as Terafab. SpaceX also disclosed Wednesday that it will add Tesla director Ira Ehrenpreis, 57, to its board of directors, along with Randy Glein, 60. Ehrenpreis has served on Tesla’s board since 2007. Glein has been a board observer at SpaceX since 2009. In addition to Tesla and SpaceX, Musk also oversees the Boring Co. and Neuralink. Musk’s stakes in his increasingly valuable businesses have made him the richest person in the world, according to the Bloomberg Billionaires Index. Most Read from Bloomberg Businessweek ©2026 Bloomberg L.P.

(Bloomberg) -- Tesla Inc. has generated around $890 million in revenue from SpaceX and xAI since 2023, a substantial sum underscoring the extent of commingling across Elon Musk’s business empire. Most Read from Bloomberg In a regulatory filing released Wednesday, Musk’s recently combined rocket maker and artificial intelligence enterprise disclosed the purchase of about $131 million worth of Tesla Cybertrucks last year, confirming an earlier Bloomberg News report. The bulk of the transactions — including $506 million in 2025 and $191 million the year prior — involved Tesla selling Megapack energy-storage batteries to xAI, which SpaceX acquired in February. The figures were revealed in a prospectus detailing SpaceX’s operations and finances ahead of a planned initial public offering. Tesla previously disclosed portions of the sales in a regulatory filing last month. Musk’s companies have long been intertwined through financial investments, business agreements and overlapping investor bases, and they sometimes even share employees. Tesla and SpaceX are joining forces on a semiconductor manufacturing plant that their chief executive officer refers to as Terafab. SpaceX also disclosed Wednesday that it will add Tesla director Ira Ehrenpreis, 57, to its board of directors, along with Randy Glein, 60. Ehrenpreis has served on Tesla’s board since 2007. Glein has been a board observer at SpaceX since 2009. In addition to Tesla and SpaceX, Musk also oversees the Boring Co. and Neuralink. Musk’s stakes in his increasingly valuable businesses have made him the richest person in the world, according to the Bloomberg Billionaires Index. Most Read from Bloomberg Businessweek ©2026 Bloomberg L.P.

Tesla Has Sold Around $890 Million of EVs and Batteries to SpaceX Bloomberg.com

格隆汇5月21日｜美联储周三提议推出一种新型、范围更有限的支付账户，该账户将允许金融科技公司等企业通过美联储的支付系统进行资金转移，但无法享受传统银行所享有的所有保障。美联储在一份声明中表示，拟议的账户将无法获得日间信贷或使用美联储的贴现窗口，企业存放在美联储的准备金也不会产生利息。该提案源于美联储此前对精简版账户的研究工作。目前美联储正寻求在两者之间取得平衡：一方面让更多企业接入其支付基础设施，另一方面避免给金融体系带来不必要的风险。

美军中央司令部20日在社交媒体发布消息说，美国海军陆战队第31远征部队队员当天在阿曼湾海域登上并搜查了一艘悬挂伊朗国旗的油轮，该油轮之后被要求改变航向。美军方称，该油轮涉嫌驶往伊朗港口、企图违反美国封锁令。美军在对该船进行搜查并指示船员改变航向后，予以放行。美军方还称，自4月13日美国对伊朗港口实施海上封锁以来，已有91艘船只被强制改变航向。 (新华社)

Facebook母公司Meta，已向數千名員工發出裁員通知。 《彭博》報道，根據公司內部備忘，亞洲區部分受影響員工會在新加坡時間凌晨4時收到通知，美國員工則會在早上收到通知。 Meta將在全球裁減約8,000個職位，並鼓勵員工在家工作。而今輪裁員，預計將涉及工程及產品團隊，而今年較後時間還可能進一步裁員。報道指Meta透過裁員削減開支，並同時增加在AI人工智能上的投資。截至今年三月底，Meta全球員工總數接近8萬人。

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穆迪将墨西哥的长期外债评级从Baa2下调至Baa3，这是最低的投资级评级。 外币发行人评级从Baa2下调至Baa3。 长期本币发行人评级从Baa2下调至Baa3。 展望由负面调整为稳定。 责任编辑：丁文武

據報人工智能大模型開發商OpenAI，將於未來幾日甚至幾星期內提交上市申請。 《華爾街日報》報道，包括高盛及摩根士丹利等銀行正就OpenAI上市準備招股文件，最快於本周五提交保密上市申請，最快於今年9月掛牌，但計劃仍然可能有變。 根據OpenAI今年4月的最新一輪融資，當時公司估值為8,520億美元。