Has Elon Musk given up on Tesla’s Master Plans, on the electrified economy, on solar power as we know it? From the SpaceX IPO filing released yesterday, it sure seems like it. A recap for those not enmeshed in the Musk-verse: Tesla has released four Master Plans over the years, and while details have varied, the through line has been electrification of the economy. Musk put it best in his first edition: “the overarching purpose of Tesla motors…is to help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy.” But recently, one of Musk’s companies, xAI, has embraced the mine-and-burn hydrocarbon economy, using dozens of unregulated natural gas turbines to power its data centers with plans to buy $2.8 billion more, effectively cementing the fossil fuel’s role in the company’s AI operations. It’s a curious turn for a businessman who built his empire on clean energy — and who has no qualms directing his companies to buy from one another. SpaceX spent $131 million on 1,279 Cybertrucks, and xAI has spent $697 million in the last two years on Tesla Megapacks, it’s grid-scale battery storage systems that the company will use to manage peak loads. But so far, xAI hasn’t bought a materially significant number of solar panels from Tesla. Solar power isn’t missing in the SpaceX filing, it’s just all concentrated on space, which the company touts as the future of data center power. Terrestrial solar garners a few mentions — not as a power source for xAI data centers but instead to show how much better SpaceX thinks space-based solar will be. It’s no secret that Musk and other Silicon Valley executives have become obsessed with space-based solar power. SpaceX says that space-based solar arrays can generate “more than five-times the energy” of terrestrial ones thanks to 24/7 illumination. As AI data centers have run into opposition here on Earth, CEOs like Musk have started mulling big server racks in space powered by that 24/7 sunshine. Hamme...

据国家数据局消息，5月22日，国家数据局党组书记、局长刘烈宏主持召开词元经济座谈会。会上，中国经济时报社、习近平经济思想研究中心、中国政法大学、中国人民大学、清华大学等单位的专家代表，阿里云、腾讯、月之暗面、海天瑞声、中国国际金融有限公司等企业代表，围绕“推动词元经济健康可持续发展，充分释放数据要素价值”发表意见建议。国家数据局党组成员、副局长夏冰出席会议。 词元是大模型处理文本、代码、图像、音频、视频等所有信息时采用的最小运算单元，正在成为人工智能服务的计量单位、结算单位和统计单位。国家数据局将把推动词元经济发展纳入工作体系，持续跟踪研究并吸收社会各界建议，以行业高质量数据集建设和全国一体化算力网建设为着力点，深入推进数据要素市场化配置改革，推动词元经济高质量发展。 国家数据局政策和规划司、数字科技和基础设施建设司主要负责同志参加会议。

据全国总工会消息，5月23日下午，全国总工会党组召开会议，通报徐留平涉嫌严重违纪违法，目前正在接受中央纪委国家监委纪律审查和监察调查。与会同志一致表示，坚决拥护党中央决定，坚决拥护中央纪委国家监委决定。 会议指出，中央纪委国家监委对徐留平涉嫌严重违纪违法进行纪律审查和监察调查，充分彰显了以习近平同志为核心的党中央持之以恒推进全面从严治党的坚定决心，充分体现了我们党勇于自我革命、坚定不移正风肃纪反腐的坚强意志，充分释放了反腐败斗争一步不停歇、半步不退让的强烈信号。全总党组和工会系统各级党组织、广大党员干部要切实提高政治站位，不断增强政治判断力、政治领悟力、政治执行力，把思想和行动统一到党中央决定精神上来，以实际行动坚定拥护“两个确立”、坚决做到“两个维护”。 会议强调，全总党组和工会系统各级党组织、广大党员干部要对党绝对忠诚，坚持不懈用习近平新时代中国特色社会主义思想凝心铸魂，把维护以习近平同志为核心的党中央权威和集中统一领导作为最根本的政治纪律和政治规矩，不折不扣贯彻落实习近平总书记重要讲话、重要指示批示精神和党中央重大决策部署。要坚定不移推进全面从严治党、加强党风廉政建设，坚决扛起全面从严治党政治责任，不断强化对权力运行的监督制约，认真落实“一岗双责”，始终严于律己、严负其责、严管所辖，坚持党性党风党纪一起抓、正风肃纪反腐相贯通，完善作风建设常态化长效化机制，持续整治形式主义为基层减负，一体推进不敢腐、不能腐、不想腐，努力营造风清气正的政治生态。要始终严格自律、廉洁从政，充分认识到手中的权力是党和人民赋予的，把加强党性教育和党性锻炼作为终身课题，敬畏人民、敬畏组织、敬畏法纪，严格自我约束、严守纪律规矩、依法廉洁从政、自觉接受监督，注重家庭、家教、家风建设，始终清清白白为官、干干净净做事、老老实实做人。 会议要求，要以学习贯彻习近平总书记重要讲话为统领推动工会工作高质量发展，深入学习习近平总书记关于树立和践行正确政绩观的重要论述，准确把握、全面落实“立党为公、为民造福、科学决策、真抓实干”的总要求，进一步把学习贯彻习近平总书记在庆祝中华全国总工会成立100周年暨全国劳动模范和先进工作者表彰大会上的重要讲话精神引向深入，全面贯彻落实年初中央书记处对工会工作的指示要求和全总十八届四次执委会议工作部署，集中精力抓好工会各项重点工作落实，以实干实绩为实现“十五五”良好开局展...

In this article BRK.B DAL M 8058.T-JP 8053.T-JP BRK.B Follow your favorite stocks CREATE FREE ACCOUNT (This is the Warren Buffett Watch newsletter, news and analysis on all things Warren Buffett and Berkshire Hathaway. You can sign up here to receive it every Friday evening in your inbox.) Lingering mysteries from Berkshire's portfolio update The large reduction in the number of stocks in Berkshire Hathaway's equity portfolio that was revealed in last Friday's first quarter 13F SEC filing was perhaps bigger than expected but it wasn't a total surprise. The Wall Street Journal had reported new CEO Greg Abel would be selling many or all of the stocks formerly managed by Todd Combs, who left for a job at JPMorgan late last year. It's harder to explain how the two new names, Delta Air Lines and Macy's , got into the portfolio. Berkshire almost never reveals who makes buy and sell decisions for individual stocks, but the rule of thumb had been Warren Buffett handled the larger positions, and one of the two (now one) portfolio managers were responsible for the smaller positions. Abel, who now has overall responsibility for the company's investments, replaces Buffett in that construction. The Oracle, however, is still coming into the office five days a week as chairman, and in late March he told CNBC's Becky Quick he is still making investment calls but won't do anything Abel thinks is "wrong." Presumably, Abel also wouldn't do anything that Buffett opposes. Staff loads packages on a Delta Air Lines plane at John F. Kennedy International Airport in Queens, New York City, on April 23, 2025. Jeenah Moon | Reuters That makes the reintroduction of Delta to the portfolio after a six-year exile something of a mystery . Buffett, who suggested in early 2008 that a "farsighted capitalist" should have shot down Orville Wright at Kitty Hawk, would presumably be unwilling to give an airline stock a third chance after a troubled 1989 US Airways investment and a money-losing 2016 return...

The Scottish Cup was made by Martin Hall & Co silversmiths and is the oldest association football trophy in the world. It was first presented to Queen’s Park, the inaugural winners, in 1874. Dunfermline striker Zak Rudden is available for selection after three months out with a shoulder injury he sustained in an earlier round of the Cup, a Fife derby against Kelty Hearts. Goalkeeper Aston Oxborough has returned on loan from Motherwell after being briefly recalled by his parent club. The Pars are without the Irish duo of Graham Carey and Freddie Turley, while striker Olly Thomas and centre-back Ewan Otoo are also unavailable through injury. Long-term absentees Kasper Schmeichel and Cameron Carter-Vickers remain sidelined for Celtic , who emerged from last weekend’s dramatic title-decider against Hearts with a clean bill of health. 16m ago 13.58 BST Scottish Cup final: Celtic v Dunfermline Athletic Master and apprentice will stand in adjacent technical areas this afternoon as Martin O’Neill and Neil Lennon prepare to lead Celtic and Dunfermline out at Hampden Park for the Scottish Cup final. A Championship side whose hopes of promotion ended in playoff semi-final defeat last week, Dunfermline Athletic arrive at Hampden Park hoping to win their first major trophy since 1968. The Scottish Premiership champions pitch up hoping to win their first silverware since this day last week. Having spent the best part of 10 years of his career as O’Neill midfield lieutenant at Leicester City and Celtic before taking the reins at Celtic Park himself in 2010, Lennon has been in charge of the Pars for 14 months. He has bristled at descriptions of him as O’Neill’s apprentice, pointing out that at 54, he’s a bit old to fit that particular bill but admitted today’s occasion will “be surreal considering how long I’ve known [Martin], what he’s done for my career and what influence he’s had on me”. Celtic are overwhelming favourties, Dunfermline will be hoping to upset the odds and kick-of...

美国《华尔街日报》22日报道，美国总统特朗普当天召集国家安全团队会议，没有正式决定是否对伊朗发起新的军事打击，而是表示愿给外交谈判“更多时间”。《华尔街日报》援引多名美国官员的话报道，特朗普听取了在伊朗进行的相关对话的简报后表示，他希望给外交谈判“更多时间”，但一旦谈判破裂保留军事打击选项。报道说，斡旋方正全力推进外交磋商，当前的紧要目标不是达成美伊正式协议，而是先确定一份类似谅解备忘录的文件，以延长停火和设定进一步谈判的框架。双方目前僵持在哪些事项应列入谈判框架、哪些问题应留待后续讨论。按美国官员的说法，如果这一有限协议仍无法达成，美国和以色列可能在数日内对伊朗发起持续时间不长的军事打击，以施压伊方让步。目前，仍有部分特朗普的顾问和保守派人士认为对伊朗实施有限打击能让美方有更多谈判筹码。 (新华社)

On May 14, 2026, Strategy Capital LLC disclosed in an SEC filing that it sold out of monday.com (NASDAQ:MNDY) , liquidating 222,388 shares in a transaction estimated at $21.34 million based on quarterly average pricing. According to a filing with the U.S. Securities and Exchange Commission dated May 14, 2026, Strategy Capital LLC sold its entire holding of 222,388 shares in monday.com during the first quarter. The estimated transaction value was $21.34 million, calculated using the average share price for the period. The fund reported no shares of MNDY at quarter-end. monday.com is a technology company specializing in cloud-based work management solutions, enabling organizations to streamline operations and collaborate efficiently at scale. The company's modular platform allows users to customize workflows, supporting a wide range of business functions from project management to CRM. With a strong international presence and a focus on product flexibility, monday.com leverages its scalable SaaS model to drive recurring revenue and maintain a competitive edge in the enterprise software market. Continue reading

格隆汇5月23日｜据澎湃，日前，美国存储芯片厂商美光CEO桑杰·马罗特拉（Sanjay Mehrotra）接受外媒采访时发出预警，称当前全球内存短缺可能延续至2026年之后，而行业真正意义上的大规模新产能释放，至少要等到2028年。“厂房基础建设是目前周期最长、挑战最大的环节，土建完成后，设备入场、安装调试同样需要漫长周期。”马罗特拉在弗吉尼亚州马纳萨斯工厂接受采访时坦言。该工厂刚刚启动了全美首个“1-alpha”工艺节点DRAM量产，这也是美光将先进内存制造回流本土的关键一步。 由于全球存储芯片紧缺，美光正在进行大规模扩产。根据之前美光披露的计划，美光将在爱达荷州博伊西建设两座先进晶圆厂，首座预计明年年中产出首批晶圆，第二座则要到2028年底；在纽约州锡拉丘兹规划多达四座晶圆厂的生产集群。整体而言，美光计划在全美投资高达2000亿美元，目标是将本土产量占全球总产量的比重从当前的约10%提升至40%。

Luis Alvarez/DigitalVision via Getty Images I believe that one of the most important traits you can have, not only as an investor, but as a person, is the ability to admit when you made a mistake. I have spent a long time trying to reflect on decisions that I have made to see if they have been optimal or not. And even though it's never fun to admit when you are wrong, it does provide you a sense of relief. That is the feeling that I have right now when it comes to Gates Industrial Corporation ( GTES ) , a rather interesting company that produces highly engineered transmission and fluid power solutions products. In my last article about the firm, I reaffirmed it as a ‘buy’ candidate. At the time, I focused more on its valuation compared to other similar firms. And I did not lend enough weight to the fact that revenue was muted and management had reduced guidance for 2025. Since then, the stock has pulled back about 7%, which is far worse than the 15.5% increase that the S&P 500 enjoyed. But the good news is that, during the time that I have been bullish about the company, with my first such article about it coming out in February of 2023, it has performed reasonably well. Shares are up 71.2%, which is only a bit behind the 81.6% increase that the market enjoyed. Based on the data that's available today, the company is still trading on the cheap compared to other similar firms. Revenue is expected to expand this year. And profitability could improve also. But based on the company's absolute valuation, I think that downgrading it to a ‘hold’ is appropriate. Time to take a step back Author - SEC EDGAR Data At this time, the newest fundamental data that we have regarding Gates Industrial covers through the first quarter of the company's 2026 fiscal year. In terms of revenue, things are actually going quite well. Sales amounted to $851.1 million. That's just a bit above the $847.6 million that the business reported the previous year. In the chart above, you can see that e...

Getty Images Introduction & Investment Thesis Rivian ( RIVN ) reported its Q1 FY26 earnings at the end of last month, and despite beating both its top and bottom line estimates, the stock has been under quite some pressure, down 19% over the last month. In my previous post , I had reiterated my “buy” rating on Rivian, especially after the stock managed to close above its 50-day moving average in February, especially as revenue was expected to inflect higher with the start of production and ramp-up of R2 in FY26. While management reiterated their delivery guidance for FY26, investors are worried about the margin pain R2 is about to inflict on the company amid an uncertain macroeconomic environment. You see, while Rivian’s Software & Services segment is scaling, its Automotive segment continues to remain under pressure on both the top and bottom line parameters. While the ramp-up of R2 should help with the top-line growth ahead, management has explicitly said that they will be experiencing further gross margin pressures through Q2 and Q3. The thing is, consensus estimates have started to revise their forward revenue growth estimates lower, and I am not confident of the timing pertaining to the bottoming in the company’s forward earnings per share estimates. With the stock creating newer lows in May this year, with severe overhead resistance, I believe that the risk-reward is not attractive at current levels. The Good: The Much-Anticipated R2 Production Finally Kicked Off When Rivian reported its Q1 FY26 earnings in May, the company beat both its top and bottom line estimates for the quarter. On the top line, revenue grew 11% YoY to $1.38B, with Rivian’s Automotive segment contributing over 65% of Total revenue, while Software and Services drove the rest of the 35% of Total Revenue. Particularly, when it comes to the company’s Software and Services segment, revenues grew at a strong 49% YoY rate (compared to the -2% decline in the Automotive segment), with revenue cont...

SpaceX’s upgraded Starship successfully deployed mock satellites and returned to Earth largely unscathed, though its booster spun out of control and broke apart over the Gulf of Mexico. Bloomberg News Global Space Loren Grush joined Christina Ruffini and David Gura on Bloomberg This Weekend to discuss. (Source: Bloomberg)

Bangladesh’s central bank unveiled a 600 billion-taka ($5 billion) package to boost economic growth, revive shuttered factories and support small businesses. Some 410 billion taka will be raised from banks with excess liquidity at a 10% interest rate, while the remaining 190 billion taka will come from Bangladesh Bank’s own reserves, Governor Mostaqur Rahman said at a media briefing Saturday. The fund will restore “industrial production and stimulate domestic demand and rebuild business confidence,” Rahman said. The largest single allocation, 200 billion taka, will be earmarked for closed factories and service sector businesses, with the central bank estimating it could create 200,000 jobs. Agriculture and rural economy will receive 100 billion taka. The package comes as GDP growth slowed to 3% in the second quarter of the 2025-2026 fiscal year from 3.5% a year earlier.

RHJ/iStock via Getty Images Tronox ( TROX ) reported Q1'26 results on May 6th. Leading up to earnings, the market was excited about TiO2 volumes stabilizing and pricing showing signs of improvement. For the most part, the quarter was better than expected and recent developments in the Middle East have also made multi-national producers like Tronox cost advantaged over Chinese producers who use the sulfate process. While the market prices in a quick recovery, I'm cautious about what's currently being priced into the stock. A look at Q1'26 results Tronox's results can be characterized as bad but improving, with revenue of $760 million, which was an increase of 3% from last year and a 4% increase sequentially. In TiO2, revenue increased 7% sequentially, driven by a 4% increase in volumes and a 3% increase in average selling prices. From what was several pricing headwinds in 2025, the growth in volumes and price is welcome. For zircon, Tronox's revenue was up 14% sequentially on a proportional increase in volumes, though pricing was flat quarter over quarter. The year over year zircon picture shows volumes up 57% but average selling prices down 28%, reflecting just how severely the pricing environment has deteriorated over the past year. Company Filings Looking at the company's profitability, Tronox's EBITDA of $62 million represented an 8.2% margin, which was up 9% sequentially from Q4's $57 million but down 45% year over year from the $113 million Tronox generated in Q1'25. From a depressed Q3'25 through Q4 and now Q1'26, the EBITDA margin path is improving but remains far from what the company was doing in earnings just a few years ago. On the conference call that followed the quarter, CEO John Romano described the quarter as reflecting "a clear inflection during the first quarter" on pricing. The pricing floor appears to have been found and the direction has changed. What I think is in question though is the pace of recovery from here. TiO2 headwinds persisting, but...

India’s government has ordered one of the country’s most exclusive private clubs to vacate its premises in two weeks, underscoring the long-running push of the prime minister, Narendra Modi, against entrenched elite institutions. The ministry of housing and urban affairs directed the Delhi Gymkhana Club to hand over its sprawling site in the heart of New Delhi by 5 June, citing urgent public interest requirements, including defence and security infrastructure. Founded under British colonial rule in 1913 as the Imperial Delhi Gymkhana Club, the institution has long been synonymous with the rich and the famous. Once restricted to colonial elites under discriminatory entry rules that barred natives, it later evolved into a powerful networking hub for politicians, senior bureaucrats, judges and business figures after India’s independence in 1947. The ministry said the land, adjacent to the prime minister’s residence, was “critically required for strengthening and securing of defence infrastructure and other vital public security purposes”, the Press Trust of India news agency reported, citing a government letter to the club’s secretary. The move comes against the backdrop of a broader political shift since Modi first took office in 2014, positioning himself as a challenger to India’s traditional elites, including those associated with the opposition Congress party led by the Nehru-Gandhi dynasty. Analysts say spaces such as the Delhi Gymkhana Club have seen their prominence erode under Modi’s populist politics. The Hindu-nationalist premier has long sought to eliminate remnants of India’s colonial past by reshaping several key British-era relics with his own mega projects. The club, which includes buildings close to 100 years old, remains one of the most sought-after memberships in the capital, with long waiting lists and a reputation as a hub of influence. However, it has also been dogged by internal disputes and allegations of financial mismanagement in recent years. ...

国际评级机构穆迪评级公司22日宣布，将南非主权信用评级展望从“稳定”上调至“正面”，同时确认南非本币和外币长期发行人评级及高级无担保评级为Ba2。穆迪在评级报告中说，上调南非评级展望反映出该国财政表现逐步改善，并持续推进结构性改革，相关成效有望进一步显现。但报告同时指出，维持南非Ba2评级反映出该国财政和经济基本面仍相对薄弱，改革带来的改善仍处于早期阶段。

Chipmaker Nvidia (NVDA 1.86%) remains the poster child of the artificial intelligence (AI) revolution, and even from its lofty perch as the world's largest company, it has gained around 20% so far in 2026. However, another AI stock has delivered far stronger returns: Shares of Nebius (NBIS 2.34%), a fast-growing data center infrastructure player, have surged by almost 143% over the same period. Nvidia also appears confident about Nebius' growth prospects. In March 2026, it announced a strategic partnership and agreed to invest $2 billion in Nebius for an approximately 8.3% ownership stake in the company. Under this partnership, Nvidia will provide the AI processors that will allow Nebius to deploy more than 5 gigawatts of data center capacity by 2030. Robust financials Nebius is focused on building data center infrastructure that's optimized for AI training, inference (running AI models in real time), and emerging agentic AI workloads (in which AI systems autonomously perform multistep tasks). Expand NASDAQ : NBIS Nebius Group Today's Change ( -2.34 %) $ -5.15 Current Price $ 214.78 Key Data Points Market Cap $54B Day's Range $ 210.81 - $ 221.84 52wk Range $ 34.72 - $ 233.73 Volume 324.8K Avg Vol 17M Gross Margin 7.48 % The company's most recent financial report highlights its business momentum. In the first quarter, revenues surged 684% year over year to $399 million. Nebius' AI business performed even better, with revenue growing by 841% year over year to $390 million, accounting for 98% of total sales. The AI business exited the first quarter with annualized run rate revenue (an annualized projection based on its latest quarterly revenue) of $1.9 billion, up by more than 50% sequentially. Management now expects revenues of between $3 billion and $3.4 billion and an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of nearly 40% in 2026. Strong customer base Nebius sold out its available data center capacity in the first quar...

Key Points Deals with Meta Platforms and Microsoft could give Nebius billions of dollars in revenue visibility and financing flexibility. Nebius is evolving beyond simply renting AI computing power to its customers; now, it's offering a broader full-stack AI platform. 10 stocks we like better than Nebius Group › Chipmaker Nvidia (NASDAQ: NVDA) remains the poster child of the artificial intelligence (AI) revolution, and even from its lofty perch as the world's largest company, it has gained around 20% so far in 2026. However, another AI stock has delivered far stronger returns: Shares of Nebius (NASDAQ: NBIS), a fast-growing data center infrastructure player, have surged by almost 143% over the same period. 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 » Nvidia also appears confident about Nebius' growth prospects. In March 2026, it announced a strategic partnership and agreed to invest $2 billion in Nebius for an approximately 8.3% ownership stake in the company. Under this partnership, Nvidia will provide the AI processors that will allow Nebius to deploy more than 5 gigawatts of data center capacity by 2030. Robust financials Nebius is focused on building data center infrastructure that's optimized for AI training, inference (running AI models in real time), and emerging agentic AI workloads (in which AI systems autonomously perform multistep tasks). The company's most recent financial report highlights its business momentum. In the first quarter, revenues surged 684% year over year to $399 million. Nebius' AI business performed even better, with revenue growing by 841% year over year to $390 million, accounting for 98% of total sales. The AI business exited the first quarter with annualized run rate revenue (an annualized projection based on its latest quarterly revenue) of $1.9 billion, up by ...

Nvidia (NasdaqGS:NVDA) is expanding enterprise AI partnerships around its DGX and Nemotron platforms. Vu Technologies is using Nvidia DGX Spark for real-time biomedical visualization in advanced medical research. Blue Yonder is building a Model Training Factory with Nvidia's Nemotron stack to support autonomous supply chain agents. Qiagen Digital Insights is integrating Nvidia BioNeMo to support AI-driven bioinformatics and drug discovery workflows. Nvidia has become closely associated with AI data center hardware and core GPUs, and these new collaborations highlight how its platforms are being woven into specific enterprise workflows. By anchoring with partners in healthcare research, logistics software, and bioinformatics, Nvidia (NasdaqGS:NVDA) is tying its AI infrastructure to concrete use cases rather than just general compute demand. For investors, that provides a view of how AI adoption can filter into operational tools used by large customers. If these kinds of deployments expand across more clients and industries, Nvidia's role could extend deeper into day to day decision systems, from lab benches to supply chain control towers. That context may influence how you think about the company, not only as a chip producer but also as a provider of full-stack AI capabilities that sit inside certain enterprise processes. Stay updated on the most important news stories for by adding it to your or . Alternatively, explore our to discover new perspectives on NVIDIA. NasdaqGS:NVDA 1-Year Stock Price Chart NVIDIA’s new partnerships in biomedical visualization, supply chain automation and bioinformatics show how its AI infrastructure is moving from general-purpose compute into tightly integrated, industry-specific systems. DGX clusters powering real-time tumor microscopy, Nemotron models driving autonomous warehouse decisions, and BioNeMo handling graph-based drug discovery workflows all point to AI being wired into regulated, high-value workflows where reliability and la...

v_alex/iStock via Getty Images Gladstone Investment's ( GAIN ) remarkable 24% total return over the last 1-year exposes its shareholders to some retracement risk as prime rates look set to be frozen at their current level for the foreseeable future. GAIN's net asset value ("NAV") gains have bucked a broader trend in the BDC space, with the BDC reporting a NAV of $16.78 per share as of the end of its fiscal 2026 fourth quarter, ending March 31, 2026. The growth of this on a year-over-year basis came in at 23.84% from $13.55 per share. Critically, fourth quarter NAV per share topped the consensus NAV estimate of $14.92 per share . This was on the back of $2.32 per share of net unrealized appreciation of investments. These unrealized gains were $92.5 million on a nominal basis and were only partially offset by $10.6 million, or $0.27 per share of net investment losses. Data by YCharts The spike in GAIN's stock price has pushed the security to trade at a more than 3-year high, but with the BDC still trading at a small 2% discount to fourth quarter NAV per share. GAIN last declared a monthly cash dividend of $0.08 per share , kept unchanged from the prior distribution, and $0.96 per share annualized for a 5.8% dividend yield. This represents a roughly 120 basis points dip from when I last covered GAIN with a Hold rating in February, with the ticker up since. Investors need to be cognizant that GAIN is offering a base dividend yield that sits just 123 basis points above the U.S. 10-year Treasury rate ( US10Y ) at 4.57% and lower than internally managed investment-grade BDCs like Main Street Capital ( MAIN ) and Hercules Capital ( HTGC ). YCharts There has been a significant divergence in performance over the last 1-year, with GAIN now forming one of the best performing BDCs. Bulls would be right to highlight the annual special dividends, with GAIN paying $0.54 per share in June last year and $0.70 per share in 2024. The average of these two distributions being paid in 202...

On May 13, 2026, Marathon Capital Management disclosed in an SEC filing that it sold 23,765 shares of Copa Holdings (CPA 0.05%), an estimated $3.12 million trade based on quarterly average pricing. Sold 23,765 shares of Copa Holdings; estimated trade size was $3.12 million based on quarterly average pricing Quarter-end position value decreased by $3.06 million, reflecting both share sales and stock price movements Transaction represented a 0.7% change in 13F reportable AUM Post-trade stake: 27,788 shares valued at $3.16 million Position now accounts for 0.71% of fund AUM, which places it outside the fund's top five holdings What happened According to a SEC filing dated May 13, 2026, Marathon Capital Management reduced its holding in Copa Holdings by 23,765 shares during the first quarter of 2026. The estimated transaction value was $3.12 million, based on the average unadjusted closing price for the quarter. The quarter-end value of the position decreased by $3.06 million, reflecting both trading activity and market price changes. The firm now holds 27,788 shares, worth $3.16 million at quarter end. What else to know Marathon Capital Management continued to reduce its position in Copa Holdings, which now represents 0.71% of 13F reportable AUM Top holdings after the filing: NASDAQ:TROW: $57.56 million (12.9% of AUM) NYSEMKT:BIL: $17.91 million (4.0% of AUM) NYSE:GLW: $14.30 million (3.2% of AUM) NASDAQ:GOOGL: $14.19 million (3.2% of AUM) NYSE:AZN: $12.85 million (2.9% of AUM) As of May 21, 2026, shares of Copa Holdings were priced at $137.07, up 34.37% over the past year, underperforming the S&P 500 by 6.9 percentage points Company overview Metric Value Revenue (TTM) $3.62 billion Net income (TTM) $671.65 million Dividend yield 4.77% Price (as of market close May 21, 2026) $137.07 Company snapshot CPA provides scheduled airline passenger and cargo services across 69 destinations in the Americas and the Caribbean, operating a fleet of Boeing 737 aircraft. Copa generat...

koto_feja/E+ via Getty Images Although Xanadu Quantum Technologies ( XNDU ) essentially remains a research lab for quantum computing, the recent pullback in shares combined with promising early success warrants a speculative start position. Quantum has rapidly gained mindshare across the investment community, largely on the promise of delivering massive amounts of revenue over the 3-5+ year time horizon. Right now, commercialization across the industry remains in the nascent phase, with proof-of-concepts and technological innovation still the primary drivers of the stock's narrative. With Xanadu, the company has been around for almost 10 years, with most of the "exciting" updates coming in recent years. Since being listed as a public company, shares have been volatile, which is expected for any pure-play quantum company. Data by YCharts To be clear, Xanadu, and quantum in general, remains a speculative investment. Asset prices have pushed much higher in recent weeks (more on that below) without a material change in the trajectory of revenue and commercialization. Xanadu has shown some early signs of promise, but this has not yet manifested in the financials or meaningful LOIs. With all of that said, I believe Xanadu offers a unique opportunity for investors to own a pure-play quantum company with a differentiated technological approach. Winners will be determined over the course of several years, but there is a lot of money investors can make between now and then. Brief Overview Xanadu's approach to quantum is highly differentiated as it focuses on photonic quantum computing , essentially using particles of light (photons) as qubits. Many other competitors use modalities such as superconducting or trapped-ion architectures. Photonics can offer several advantages, including scalability, networking, and operating around room temperature. Xanadu Quantum Technologies In my opinion, the most interesting thing across the quantum industry is the variety of methods being ad...

Ukraine Uses High-Altitude Balloons To Extend Suicide Drone Strike Range Ukrainian forces have borrowed a page from China's hypersonic glide-weapon testing and applied it to the Eastern European theater, using one-way attack drones against Russia. Instead of launching the Hornet strike drone from a ground-based catapult, Ukrainian operators tethered it to a high-altitude balloon, extending its range. Defense news website Defense Blog reports: The test, details of which circulated through Ukrainian military channels, involved a Hornet manufactured by Perennial Autonomy being dropped from a balloon at approximately 8 kilometers altitude after the aerostat carried the drone 42 kilometers from its launch point. Ukrainian troops tested launching the Ukrainian-American Hornet kamikaze drone from a balloon. The aerostat carried the drone 42 km and released it from 8 km altitude, while the UAV used only 5% of its battery. The method extends range by combining balloon distance, high-altitude… pic.twitter.com/YUlKcaQf7e — NOELREPORTS 🇪🇺 🇺🇦 (@NOELreports) May 20, 2026 The outlet said the new tactic would effectively double the Hornet's range to 300 kilometers (about 186 miles). Military observers have marveled at Ukraine's rapid weapons innovation curve, particularly its use of "low-tech" solutions such as drones and interceptors. These have become so effective that the U.S. military and allied Gulf countries have begun procuring some of these weapons. The Ukraine-Russia war has effectively become a weapons and AI laboratory , accelerating battlefield technology and bringing forward weapons that would otherwise have been seen in the 2030s. Tyler Durden Sat, 05/23/2026 - 08:45

So far, 2026 has been full of surprises. Practically every sector of the stock market has been dealing with its own particular (and unexpected) set of challenges. Consumer goods stocks have been grappling with rising inflation. Energy stocks have been affected by the war in Iran. Tech stocks have been grappling with how to handle AI. And investors are wondering if there are any safe havens anymore. Here's which sectors have been leading the market, and, more importantly, which one is gaining momentum as we head toward the final days of May. One big winner By the end of March, the S&P 500 was down 4.6% year to date, and the major market sectors had already settled into three broad categories for the year: losers, modest gainers, and one big winner. As measured by the performance of sector-specific SPDR ETFs, there were five losing sectors that had lost between 4.5% and 10% of their value in the first quarter of 2026: healthcare (down 4.6%), communication services (down 5.5%), consumer discretionary (down 8.1%), financials (down 9.7%), and most surprisingly, tech (down 6.3%). Then there was a batch of five moderate performers, up between 1.5% and 11.5%: real estate (up 1.5%), consumer staples (up 4.9%), industrials (up 6%), utilities (up 8%), and materials (up 11.3%). The big winner, though, was energy. The State Street Energy Select Sector SPDR ETF (XLE +0.61%) was up 31.9% as of March 31, handily outperforming every other market sector for the year. Tech rebounds Not much changed in April except that tech stocks found their mojo again, shooting out of the "big loser" tier and up to the moderate tier. That momentum has continued into May, to the point that the State Street Tech Select Sector SPDR ETF (XLK +1.00%) is up 22.3% for the year as of this writing. Tech is now the second-best performing sector of 2026 behind energy (which now boasts a 34.5% return). Consumer staples, industrials, real estate, and materials are all clustered together vying for third place, wi...

Memorial Day weekend is expected to kick off one of the busiest summer travel season in years, with millions of Americans hitting the roads and airports despite rising costs. GasBuddy's Head of Petroleum Analysis Patrick De Hahn and The Points Guy Managing Editor Clint Henderson joined Christina Ruffini and David Gura on Bloomberg This Weekend to discuss the climbing gas prices, expensive airfare and what travelers can expect this summer. (Source: Bloomberg)

imaginima/iStock via Getty Images Data Center infrastructure company Applied Digital ( APLD ) saw its stock price take off last week after it announced a new deal from a U.S. hyperscaler that will significantly escalate its revenue ramp. The deal, set to contribute $7.5B in base contracted revenue over a 15-year lease term, allows Applied Digital to build its fourth Data Center, the Polaris Forge 3 in North Dakota, and lifts the company's revenue backlog to $31B. With AI obviously being a multi-year investment story, and hyperscalers like Amazon ( AMZN ), Alphabet ( GOOG )( GOOGL ) and Microsoft ( MSFT ) approaching $200B each in annual CapEx spending this year, I believe Applied Digital remains a very compelling investment choice for AI growth investors, mainly because of the company’s low market cap relative to other AI infrastructure companies. Seeking Alpha Previous rating I rated Applied Digital ‘Buy’ in February -- A Winner In The AI CapEx Boom -- when I last reviewed the AI infrastructure firm’s financials in response to the latest earnings report. Specifically, the key reason for me to rate APLD a 'Buy' was a massive $5.0B deal with Australian asset management company Macquarie that helps the company to accelerate its Data Center buildout. While the company is losing money due to its aggressive growth strategy, a strong execution could result in a significant expansion of Applied Digital's market cap in the years ahead. Massive revenue ramp underway Applied Digital signed a new 15-year deal with a leading U.S. hyperscaler in May for 300 MW of critical IT load. The deal, which follows a similar 300 MW deal with the same hyperscaler announced earlier this year, includes three 5-year options for 2 buildings at the new Polaris Forge 3 campus in North Dakota. The base term of the lease is valued at approximately $7.5 billion, with the total deal value, based off of option exercises for the Polaris Forge 3 lease, jumping as high as $18.2 billion. The deal has a si...

With June rapidly approaching, analysts at Bank of America said there is a slew of top stock-buying opportunities. The firm said that companies like Visa have plenty more room to run. Other buy-rated stocks Bank of America analysts are bullish on include Zeta Global , Sprouts Farmers Market, United Rentals and Citigroup. Sprouts Farmers Market The grocery store chain is firing on all cylinders, the firm said. Analyst Robert Ohmes recently came away from investor meetings convinced that the company is on the right track as sales and margins remain robust. "We believe SFM's targeted approach to price and promotions, including initial price reductions on select SKUs [stock keeping units] such as coffee & other essential items should deliver greater value on the categories and drive traffic from the less engaged customer cohort," he said. The firm also raised its price target to $100 per share from $92. In addition, Ohmes said that the company's foray into organic items along with its generous loyalty program has upside potential. The stock is up more than 8% in 2026. United Rentals Analyst Michael Feniger is doubling down on shares of United Rentals following a series of investor meetings he held with the equipment rental company. "We came away with the view that the management team feels confident heading into construction season around its growth profile, costs profile, and M & A profile," he wrote. Feniger said the company's margin profile is attractive and that the company has a differentiated offering, which gives it a leg up against competitors. "In our view, the bigger picture takeaway — URI's competitive position is strengthening with national accounts even as other players are targeting growth in gen rent & dirt moving," he said. Shares are up almost 16% this year. Feniger said that the company is "built for the moment." Zeta Global "Misunderstood & Mispriced," analyst Matt Bullock said of the digital ad company. The firm recently reinstated coverage of the st...