Sundry Photography/iStock Editorial via Getty Images Introduction Capital One Financial ( COF ) is a large depositor bank that specializes in credit card lending. The bank grew in 2025 after its acquisition of Discover. Recently, shares sold off and have dropped nearly 20% year to date. I believe the bank is poised for earnings growth, and as such, the current share price represents an attractive ...
Sundry Photography/iStock Editorial via Getty Images Introduction Capital One Financial ( COF ) is a large depositor bank that specializes in credit card lending. The bank grew in 2025 after its acquisition of Discover. Recently, shares sold off and have dropped nearly 20% year to date. I believe the bank is poised for earnings growth, and as such, the current share price represents an attractive entry point for investors. Capital One Financial Earnings Lower interest rates have worked in Capital One’s favor over the last year. Despite lower interest rates, the company’s asset yield climbed to 11.3% in the third quarter before dropping by 24 basis points in the fourth quarter. Borrowing yields have been consistent with falling rates, declining by 14 basis points in the fourth quarter to 3.41% and down 40 basis points from a year ago. Company Financials Because of the nature of its business (a depositor bank with credit card loans), net interest spreads and net interest margins are much higher than what investors would expect from a typical bank. Despite net interest spread and net interest margin each declining by 10 basis points in the fourth quarter, both remain above pre-pandemic and pandemic levels. Company Financials From an income and expense standpoint, the numbers were affected by the second quarter acquisition of Discover Financial. In the fourth quarter, interest income edged down slightly from the third quarter by $76 million to below $16.7 billion. Interest expense dropped by a greater amount, declining by $138 million to $4.22 billion. These changes led to a $62 million increase in net interest income (interest income less interest expense) to $12.47 billion. Company Financials Changes in Loans and Deposits Just as in the case with interest income and expense, the changes in Capital One’s loans and deposits were affected by the second quarter acquisition of Discover. Typically, when a bank merges or acquires another bank, loans and deposits can come und...
Tilray Brands (TLRY +2.13%) is one of a handful of public marijuana companies. To be fair, the company's approach has shifted materially in the past few years, as it looks to become a brand manager. But if you want to invest in a high-risk sin stock that knows how to manage brands, you'll probably be better off with this cash-flow monster instead. Here's why. The problem with Tilray Brands Tilray ...
Tilray Brands (TLRY +2.13%) is one of a handful of public marijuana companies. To be fair, the company's approach has shifted materially in the past few years, as it looks to become a brand manager. But if you want to invest in a high-risk sin stock that knows how to manage brands, you'll probably be better off with this cash-flow monster instead. Here's why. The problem with Tilray Brands Tilray Brands started out as a marijuana company. There's no question that this has been a high-risk investment area, as early enthusiasm for the drug hasn't been supported by the financial results of marijuana companies. Tilray Brands, for example, has yet to turn a sustainable profit. To management's credit, it recognized that its marijuana focus wasn't working, and it refined its business model. To that end, it has gone on an acquisition spree, buying up brands in the marijuana, CBD, and alcohol spaces. In this way, it is starting to look like a consumer staples company. There's just one problem. The acquisitions that the company has been making have been funded with stock, diluting existing shareholders. The share count has exploded by more than 300% over the past five years, and the company still hasn't managed to turn a sustainable profit. In fact, it has already taken impairment charges across every segment of its business. That suggests that its new growth plan may not be working out as well as hoped. Expand NASDAQ : TLRY Tilray Brands Today's Change ( 2.13 %) $ 0.15 Current Price $ 7.21 Key Data Points Market Cap $840M Day's Range $ 6.86 - $ 7.30 52wk Range $ 3.51 - $ 23.20 Volume 2.7M Avg Vol 9.1M Gross Margin 21.79 % Altria has a better risk/reward balance Basically, Tilray Brands is a high-risk bet that the company manages to find a business model that sticks. In contrast, Altria (MO 0.70%) has a leading position in the U.S. tobacco market. Specifically, its Marlboro brand is the industry leader, with a 40.5% market share in 2025. Overall, the company has a cigarette m...
Key Points Tilray Brands started as a marijuana company, but has since expanded into CBD and alcohol. The money-losing business has been expanding its brand portfolio via acquisition. As an alternative, this "sin stock" has a huge yield, an industry-leading brand, and ample capacity to invest in new products. 10 stocks we like better than Tilray Brands › Tilray Brands (NASDAQ: TLRY) is one of a ha...
Key Points Tilray Brands started as a marijuana company, but has since expanded into CBD and alcohol. The money-losing business has been expanding its brand portfolio via acquisition. As an alternative, this "sin stock" has a huge yield, an industry-leading brand, and ample capacity to invest in new products. 10 stocks we like better than Tilray Brands › Tilray Brands (NASDAQ: TLRY) is one of a handful of public marijuana companies. To be fair, the company's approach has shifted materially in the past few years, as it looks to become a brand manager. But if you want to invest in a high-risk sin stock that knows how to manage brands, you'll probably be better off with this cash-flow monster instead. Here's why. The problem with Tilray Brands Tilray Brands started out as a marijuana company. There's no question that this has been a high-risk investment area, as early enthusiasm for the drug hasn't been supported by the financial results of marijuana companies. Tilray Brands, for example, has yet to turn a sustainable profit. 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 » To management's credit, it recognized that its marijuana focus wasn't working, and it refined its business model. To that end, it has gone on an acquisition spree, buying up brands in the marijuana, CBD, and alcohol spaces. In this way, it is starting to look like a consumer staples company. There's just one problem. The acquisitions that the company has been making have been funded with stock, diluting existing shareholders. The share count has exploded by more than 300% over the past five years, and the company still hasn't managed to turn a sustainable profit. In fact, it has already taken impairment charges across every segment of its business. That suggests that its new growth plan may not be working out as well as hoped. Altr...
由于专家会议大楼早前在空袭中被摧毁，此次选举将以线上形式进行。 伊朗媒体引述伊朗专家会议(Assembly of Experts)成员Ayatollah Mohammad Mozafari表示，将于未来24小时内举行会议选出最高领袖。不过，他表示，截至目前为止，有关会议和选举未公开举行，呼吁民众不要轻信谣言。 另有媒体指，由于专家会议大楼早前在空袭中被摧毁，此次选举将以线上形式进行。 早前有指哈梅...
由于专家会议大楼早前在空袭中被摧毁，此次选举将以线上形式进行。 伊朗媒体引述伊朗专家会议(Assembly of Experts)成员Ayatollah Mohammad Mozafari表示，将于未来24小时内举行会议选出最高领袖。不过，他表示，截至目前为止，有关会议和选举未公开举行，呼吁民众不要轻信谣言。 另有媒体指，由于专家会议大楼早前在空袭中被摧毁，此次选举将以线上形式进行。 早前有指哈梅内伊之子穆杰塔巴(Mojtaba Khamenei)将为新任最高领袖，惟据报14名专家会议成员抵制有关会议。美国总统特朗普早前曾称，穆杰塔巴是不可接受的人选，他必须亲自参与选定伊朗下一任领导人。
格隆汇3月8日｜伊朗媒体引述伊朗专家会议(Assembly of Experts)成员Ayatollah Mohammad Mozafari表示，将于未来24小时内举行会议选出最高领袖。不过，他表示，截至目前为止，有关会议和选举未公开举行，呼吁民众不要轻信谣言。另有媒体指，由于专家会议大楼早前在空袭中被摧毁，此次选举将以线上形式进行。 早前有指哈梅内伊之子穆杰塔巴(Mojtaba Khamenei...
格隆汇3月8日｜伊朗媒体引述伊朗专家会议(Assembly of Experts)成员Ayatollah Mohammad Mozafari表示，将于未来24小时内举行会议选出最高领袖。不过，他表示，截至目前为止，有关会议和选举未公开举行，呼吁民众不要轻信谣言。另有媒体指，由于专家会议大楼早前在空袭中被摧毁，此次选举将以线上形式进行。 早前有指哈梅内伊之子穆杰塔巴(Mojtaba Khamenei)将为新任最高领袖，惟据报14名专家会议成员抵制有关会议。美国总统特朗普早前曾称，穆杰塔巴是不可接受的人选，他必须亲自参与选定伊朗下一任领导人。
Lari Bat/iStock via Getty Images Introduction Potential closure of the Qatar LNG supply (19% of global supply) for an unspecified time could lead to a severe disruption in global prices, and thus I initially looked at EQT ( EQT ) and Expand Energy ( EXE ), which I have covered, but the US-produced natural gas price (HH or Henry Hub) is unlikely to increase nearly as much as the TTF (Europe) or JKM...
Lari Bat/iStock via Getty Images Introduction Potential closure of the Qatar LNG supply (19% of global supply) for an unspecified time could lead to a severe disruption in global prices, and thus I initially looked at EQT ( EQT ) and Expand Energy ( EXE ), which I have covered, but the US-produced natural gas price (HH or Henry Hub) is unlikely to increase nearly as much as the TTF (Europe) or JKM (Asia), which do not have the same level of local supply. I then searched for LNG producers with a sizable portion of production uncontracted, which led me to Venture Global ( VG ). This is a highly capital-intensive, levered company with poor corporate governance, and it also faces $4bn in lawsuits . Only a structural shift in global LNG prices may warrant more than a short-term hedge position. Consensus Operating Model & Valuation The current consensus model assumes substantial volume growth as VG completes and ramps up production capacity, with about a 44% increase in 2026 and more than doubling by 2028. However, EBITDA is forecast to be flat in 2026 and decline in 2027 as contracted volumes are at lower prices, which impacts margins. At the same time, capex is running at over $13bn a year, and the company needs $5bn to $9bn to fund its expansion, which will most likely be raised via equity every year. The long-term infrastructure build-out and integration, including ownership of pipelines, transport ships, and regasification facilities, does make sense but creates value at the end of the capex cycle, in my view. Created by author with data from Bloomberg Valuation Valuation based on the current operating forecast is expensive, and unless Qatar production is offline for much of 2026, this stock has significant downside due to lower-priced long-term contracts, heavy capex, and rising debt costs. The consensus price target of US$11 backs into a fair EV/EBITDA multiple of 12x, which is above peers such as Cheniere Energy ( LNG ) and Woodside Energy ( WDS ). Using the same ...
The supply of oil and other essential commodities may be grabbing the headlines as the US-Iran conflict escalates, but the ripple effects are being felt far beyond energy markets – all the way to the global supply of the saffron used in footbath packs and heat patches. Chinese retail investors have been peppering listed companies with questions about how disruptions tied to the conflict could affe...
The supply of oil and other essential commodities may be grabbing the headlines as the US-Iran conflict escalates, but the ripple effects are being felt far beyond energy markets – all the way to the global supply of the saffron used in footbath packs and heat patches. Chinese retail investors have been peppering listed companies with questions about how disruptions tied to the conflict could affect everything from fertiliser imports to the pharmaceutical products containing the prized spice. “Given that Iran accounts for more than 90 per cent of global saffron exports, which have now been suspended, will your company continue producing saffron-containing foot-bath packs and heat patches?” one investor asked Renhe Pharmacy, a Jiangxi-based pharmaceutical company listed in Shenzhen, on an investor interaction platform. Advertisement “Does the company have any saffron raw-material inventory on hand? If so, how long can it sustain production?” the investor added. “Please call our customer service hotline,” answered the company. Advertisement The exchange illustrates how the Middle East conflict is reverberating far beyond energy markets, unsettling businesses and investors thousands of miles from the war zone.