patty_c/iStock Unreleased via Getty Images Though the S&P 500 has managed to hold on very close to all-time highs so far this year, the gains have all been concentrated in small pockets of stocks (in particular, semiconductor stocks that are directly feeding the datacenter buildout boom). Vast swaths of the stock market, however, are technically in bear market territory and erasing much of last ye...
patty_c/iStock Unreleased via Getty Images Though the S&P 500 has managed to hold on very close to all-time highs so far this year, the gains have all been concentrated in small pockets of stocks (in particular, semiconductor stocks that are directly feeding the datacenter buildout boom). Vast swaths of the stock market, however, are technically in bear market territory and erasing much of last year's gains. Wayfair ( W ), the online furniture giant, is one of these stocks. The company just reported Q4 results, and despite a Q1 outlook that essentially matched what Wall Street had been hoping for, the shares pulled back more than 10% on indications from the company that it's looking to become more aggressive in discounting and rewards in order to take market share in a weak economy. Now, we're not exactly shedding tears for Wayfair, whose stock has meaningfully outperformed the broader market with 70%+ gains over the past year. But the core question on investors' minds now is: with Wayfair down more than 30% relative to last November's highs around $120, is there an opportunity to buy this stock on the dip? Data by YCharts I last wrote an article upgrading Wayfair to a neutral rating in October, when the stock was trading in the low $100s shortly before its brief ~$120 peak. At the time, I had been encouraged by the company's accelerating revenue growth and strong sales execution despite weakening consumer spending indicators, while also cautioning on Wayfair's rich valuation multiples. With shares of Wayfair now trading under $80, its overvaluation problem is gradually getting cured. At the same time, the company does continue to execute well, capturing market share in a flattish furniture environment with no support at all from a frozen real estate market. It's raising its contribution margin profile, and FY25 saw a massive burst of free cash flow growth. I'm directionally more positive on Wayfair, but I do still think a complicated overhang of risks clouds the ne...
Select Medical ( SEM ) declares $0.0625/share quarterly dividend , in line with previous. Forward yield 1.55% Payable March 12; for shareholders of record March 2; ex-div March 2. See SEM Dividend Scorecard, Yield Chart, & Dividend Growth. More on Select Medical Select Medical Non-GAAP EPS of $0.16 misses by $0.07, revenue of $1.4B beats by $40M Select Medical Q4 2025 Earnings Preview Seeking Alph...
Select Medical ( SEM ) declares $0.0625/share quarterly dividend , in line with previous. Forward yield 1.55% Payable March 12; for shareholders of record March 2; ex-div March 2. See SEM Dividend Scorecard, Yield Chart, & Dividend Growth. More on Select Medical Select Medical Non-GAAP EPS of $0.16 misses by $0.07, revenue of $1.4B beats by $40M Select Medical Q4 2025 Earnings Preview Seeking Alpha’s Quant Rating on Select Medical Historical earnings data for Select Medical Dividend scorecard for Select Medical
The cost to hire oil supertankers could be headed for the highest levels this decade on the growing risk of a major US attack on Iran, and as ownership of the vessels becomes more concentrated. Earnings for a very-large crude carrier on the Middle East-to-China route have already almost tripled so far this year $151,208 a day, the highest since 2020, according to Baltic Exchange data. With the US ...
The cost to hire oil supertankers could be headed for the highest levels this decade on the growing risk of a major US attack on Iran, and as ownership of the vessels becomes more concentrated. Earnings for a very-large crude carrier on the Middle East-to-China route have already almost tripled so far this year $151,208 a day, the highest since 2020, according to Baltic Exchange data. With the US amassing forces in the Middle East and President Donald Trump saying Iran had 10 to 15 days at most to reach a deal over its nuclear program, they look likely to go higher still. A major assault could disrupt traffic in the vital Strait of Hormuz, raising the risk premium to charter ships, while a VLCC buying spree by South Korean shipper Sinokor Merchant Marine is also exacerbating the tightness in the market. “Military action in the Middle East will likely take VLCC rates to levels not seen since 2019,” said Anoop Singh , global head of shipping research at Oil Brokerage Ltd. The nervousness over a possible attack on Iran is showing up on other routes, with earnings for supertankers on the US Gulf to China journey at the highest since late 2022, Baltic Exchange data show. The last time oil tanker rates on the Middle East-to-China route were this high was in 2020 when producers began storing more crude at sea after virus-induced lockdowns sapped demand and pushed onshore storage to full capacity. Read More: Tankers Speed Through Hormuz Chokepoint on US-Iran Tensions This time round, charterers are faced with an increase in oil production at a time when ships for prompt hires are getting more scarce. Global crude output was about 3.9 million barrels a day higher in January than a year earlier, according to the International Energy Agency. Sinokor’s rapid purchases of VLCCs have also put the market into fewer hands . The company now controls about 120 supertankers, with rival Okeanis Eco Tankers Corp. estimating this week it has almost 40% of the number of unsanctioned ships...
Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images It has been months since I initiated coverage on Walmart Inc. ( WMT ). Back then I found growth deceleration, a weak annual outlook, and a stretched valuation. Due to this combination of factors, I believed investors should have taken profits in the stock, and so I put in a sell rating. Currently, this doesn't seem to have been one o...
Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images It has been months since I initiated coverage on Walmart Inc. ( WMT ). Back then I found growth deceleration, a weak annual outlook, and a stretched valuation. Due to this combination of factors, I believed investors should have taken profits in the stock, and so I put in a sell rating. Currently, this doesn't seem to have been one of my better calls of 2025, as Walmart has soared over 30% to a market cap that is above the $1 trillion mark. The retail giant reported their latest earnings earlier this morning (Feb 19th), and so today, I'll be providing a much needed update for readers. Seeking Alpha Below, it is shown that Walmart is overall a solid business. While revenue growth is sluggish, margin improvements helped to power respectable bottom-line increases. Guidance for FY2027 also seems decently bullish, and the company's strategy is justified. However, the valuation is currently at nosebleed levels considering the amount of growth we're seeing, and so I believe it would be unwise for investors to chase the stock now. Therefore, I'm maintaining my sell rating for Walmart stock. Top Line Analysis Company-Wide Revenues Walmart Q4 Presentation Starting with the top line, Walmart reported revenues of $190.7 billion for FY2026 Q4. As you can see above , this represents a deceleration of growth both in reported terms and in constant currency terms. This comes after two quarters of acceleration, and so business momentum may now be a bit shaky. Still, the company stated that they saw strength across their segments, and they were able to beat consensus expectations by an impressive margin of $2.34 billion. It seems that estimates were quite conservative overall, as analysts were likely building models with weak consumer confidence as an assumption. One of the highlights for Q4 was the continued strength in their eCommerce business. While growth did decelerate from Q3's 27% , the 24% increase for Q4 still f...
Morguard ( MRCBF ) declares CAD 0.20/share quarterly dividend , in line with previous. Forward yield 0.69% Payable March 31; for shareholders of record March 16; ex-div March 16. See MRCBF Dividend Scorecard, Yield Chart, & Dividend Growth. More on Morguard Seeking Alpha’s Quant Rating on Morguard Historical earnings data for Morguard Dividend scorecard for Morguard Financial information for Morgu...
Morguard ( MRCBF ) declares CAD 0.20/share quarterly dividend , in line with previous. Forward yield 0.69% Payable March 31; for shareholders of record March 16; ex-div March 16. See MRCBF Dividend Scorecard, Yield Chart, & Dividend Growth. More on Morguard Seeking Alpha’s Quant Rating on Morguard Historical earnings data for Morguard Dividend scorecard for Morguard Financial information for Morguard
Ethiopia and Eritrea are deploying troops and military equipment to the northern Tigray region, raising the risk of renewed conflict in the Horn of Africa. Bloomberg's Simon Marks spoke to Horizons Middle East and Africa anchor Joumanna Bercetche about the latest. (Source: Bloomberg)
Ethiopia and Eritrea are deploying troops and military equipment to the northern Tigray region, raising the risk of renewed conflict in the Horn of Africa. Bloomberg's Simon Marks spoke to Horizons Middle East and Africa anchor Joumanna Bercetche about the latest. (Source: Bloomberg)
Negotiations between Ukraine and Russia have made limited progress so far Defence ministers of the E5 grouping – France, Germany, Italy, Poland and the United Kingdom – are meeting in the Polish city of Kraków this morning. They will be joined by their Ukrainian counterpart, Mykhailo Fedorov, the EU’s top diplomat, Kaja Kallas , and Nato’s deputy secretary general Radmila Šekerinska. Continue read...
Negotiations between Ukraine and Russia have made limited progress so far Defence ministers of the E5 grouping – France, Germany, Italy, Poland and the United Kingdom – are meeting in the Polish city of Kraków this morning. They will be joined by their Ukrainian counterpart, Mykhailo Fedorov, the EU’s top diplomat, Kaja Kallas , and Nato’s deputy secretary general Radmila Šekerinska. Continue reading...
stanciuc/iStock via Getty Images By Monika Carlson and Charlie Choi A strong housing market and supportive federal policy could benefit US mortgage-backed securities. It can sometimes be hard to tell whether the US housing market is hot or cold. Currently, existing-home inventory is tight and prices are stable—indicators of a hot market—while sales volume is down and home price appreciation has sl...
stanciuc/iStock via Getty Images By Monika Carlson and Charlie Choi A strong housing market and supportive federal policy could benefit US mortgage-backed securities. It can sometimes be hard to tell whether the US housing market is hot or cold. Currently, existing-home inventory is tight and prices are stable—indicators of a hot market—while sales volume is down and home price appreciation has slowed. So, what’s the temperature? We believe the housing market is solid, and a confluence of market forces and public policy should support mortgage-backed securities (MBS). Public Policy Could Increase Demand for Agency Mortgages The potential catalysts for MBS begin with housing initiatives coming from the White House. In an effort to lower mortgage rates, President Trump in January ordered government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to purchase $200 billion of agency MBS. These securities’ spreads—their yield advantage over Treasuries—soon tightened. But the spillover effect has yet to fully reach related sectors. For now, the spread between non agency and agency MBS is hovering above its historical average ( Display ). Over time, we expect non agency spreads to tighten as investors capitalize on this dislocation. In fact, non-agency MBS have some upside potential, in our view. The administration also has floated other ideas aimed at lowering mortgage rates and making homebuying more accessible. These include introducing mortgage prepayment penalties, allowing borrowers to transfer an existing mortgage to a different residence, permitting retirement funds to be used for home purchases, and increasing the capital gains exclusion for home sales. If implemented, these initiatives could provide a tailwind to the housing market and, by extension, MBS. But we question how much housing policy will improve affordability—largely due to the so-called “lock-in” effect. Many homeowners are staying put because they locked in mortgages with ultra low fixed rate...