2 days ago
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Amazon founder Jeff Bezos once challenged Rep. Alexandria Ocasio-Cortez's (D-N.Y.) argument that billionaires cannot legitimately earn their fortunes.
During a May 2026 interview with CNBC's Andrew Ross Sorkin at Blue Origin's rocket factory in Florida, Bezos responded to Ocasio-Cortez's statement that no one can earn $1 billion without exploiting workers, abusing market power or breaking rules.
The Amazon executive chairman rejected the premise, illustrating his argument with a hypothetical burger restaurant that starts with 10 employees and gradually expands to 1,000 locations as customers embrace its products.
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#alexandria
Amazon founder Jeff Bezos once challenged Rep. Alexandria Ocasio-Cortez's (D-N.Y.) argument that billionaires cannot legitimately earn their fortunes.
During a May 2026 interview with CNBC's Andrew Ross Sorkin at Blue Origin's rocket factory in Florida, Bezos responded to Ocasio-Cortez's statement that no one can earn $1 billion without exploiting workers, abusing market power or breaking rules.
The Amazon executive chairman rejected the premise, illustrating his argument with a hypothetical burger restaurant that starts with 10 employees and gradually expands to 1,000 locations as customers embrace its products.
Don't Miss:
#alexandria
19 days ago
On August 18, Amer Sports (NYSE:AS) reported second-quarter results that beat its own guidance and then raised the bar for the rest of the year. Revenue climbed 32% to $1.63 billion, adjusted operating profit nearly tripled, and every region and segment posted double-digit growth. Diluted earnings per share reached $0.18, up from a much smaller figure a year earlier. What stands out about August 18 is not just the size of the beat but how broad it was.
Technical Apparel grew 32% to $674 million, led by Arc'teryx and backed by a 17% omni-comp gain across owned stores and e-commerce. Outdoor Performance grew even faster, up 37% to $569 million, driven by Salomon Softgoods. Ball & Racquet Sports rose 24% to $390 million on the strength of Wilson Tennis 360. CEO James Zheng pointed to strong double-digit growth across every segment, geography, and channel as the reason for confidence in the outlook.
That confidence showed up in the numbers: Amer Sports raised full-year 2026 guidance to roughly 24% reported revenue growth, a gross margin of 60.5% to 61.0%, an operating margin of 14.2% to 14.5%, and diluted EPS of $1.27 to $1.30. The balance sheet backs up the reinvestment CFO Andrew Page described, with $573 million in net cash and $720 million in cash and equivalents at quarter-end.
Some of the second quarter's biggest numbers lean on a one-time tailwind. Gross margin expanded 710 basis points to 65.6%, but 390 of those points came from net tariff refunds. Operating margin's 820 basis point jump included the same 390-point benefit. The effect is largest in Ball & Racquet Sports, where adjusted segment operating margin rose 1,300 basis points to 17.2%, yet 970 of those points came from tariff refunds alone. Selling, general and administrative expenses rose 30% to $909 million, and on an adjusted basis SG&A grew 33%, faster than revenue itself.
Inventories climbed 19% year over year to $1,897 million. The guidance for the next quarter also points to a slower pace: third quarter revenue growth is guided at 18% to 20%, well below the 32% just reported, with gross margin guided down to about 59.0% and net finance cost alone guided to $15 million to $20 million, against roughly $85 million for the entire year.
#revenue #basis
Technical Apparel grew 32% to $674 million, led by Arc'teryx and backed by a 17% omni-comp gain across owned stores and e-commerce. Outdoor Performance grew even faster, up 37% to $569 million, driven by Salomon Softgoods. Ball & Racquet Sports rose 24% to $390 million on the strength of Wilson Tennis 360. CEO James Zheng pointed to strong double-digit growth across every segment, geography, and channel as the reason for confidence in the outlook.
That confidence showed up in the numbers: Amer Sports raised full-year 2026 guidance to roughly 24% reported revenue growth, a gross margin of 60.5% to 61.0%, an operating margin of 14.2% to 14.5%, and diluted EPS of $1.27 to $1.30. The balance sheet backs up the reinvestment CFO Andrew Page described, with $573 million in net cash and $720 million in cash and equivalents at quarter-end.
Some of the second quarter's biggest numbers lean on a one-time tailwind. Gross margin expanded 710 basis points to 65.6%, but 390 of those points came from net tariff refunds. Operating margin's 820 basis point jump included the same 390-point benefit. The effect is largest in Ball & Racquet Sports, where adjusted segment operating margin rose 1,300 basis points to 17.2%, yet 970 of those points came from tariff refunds alone. Selling, general and administrative expenses rose 30% to $909 million, and on an adjusted basis SG&A grew 33%, faster than revenue itself.
Inventories climbed 19% year over year to $1,897 million. The guidance for the next quarter also points to a slower pace: third quarter revenue growth is guided at 18% to 20%, well below the 32% just reported, with gross margin guided down to about 59.0% and net finance cost alone guided to $15 million to $20 million, against roughly $85 million for the entire year.
#revenue #basis
30 days ago
Baidu announced on September 4 that its Hong Kong Class A shares are now included in both the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs, effective September 7.. The change gives eligible mainland investors direct access to the Hong Kong listing, potentially widening liquidity and the shareholder base. It does not alter the operating competition between Baidu, Inc. (NASDAQ:BIDU) and Alibaba Group Holding Limited (NYSE:BABA), which are pursuing AI through different mixes of models, cloud infrastructure, chips, and consumer distribution.
Baidu's bull case combines search traffic, its Ernie ecosystem, cloud services, and Kunlunxin chips. Stock Connect can make that story easier for mainland investors to own, while its dual-primary Hong Kong listing broadens access. The bear case is that improved trading access does not repair weak advertising, guarantee cloud share, or remove geopolitical and regulatory risk. The catalyst affects liquidity more directly than earnings.
Insider Monkey counted 49 hedge funds holding Baidu, Inc. (NASDAQ:BIDU) at June 30, down from 50 at March 31. David Tepper's Appaloosa Management disclosed 1,295,000 shares, 87% more than in Q1. That increase shows one manager's conviction, not a broad rise in fund participation.
Alibaba's June-quarter AI Cloud and Compute Services revenue reached $7.1 billion, up 45% year over year, while segment adjusted EBITA rose 133% to $830 million. Its bull case is a full stack spanning Qwen models, cloud, proprietary chips, and commerce distribution. The bear case is capital intensity, fierce domestic competition, exposure to consumer spending, and the possibility that fast AI growth remains too small to transform the larger group's valuation.
Ninety-seven hedge funds held Alibaba Group Holding Limited (NYSE:BABA) in Q2, down from 102 in Q1. Ken Fisher's Fisher **** et Management disclosed 5,096,418 shares after trimming the position by 0.5%.
#kong #holding
Baidu's bull case combines search traffic, its Ernie ecosystem, cloud services, and Kunlunxin chips. Stock Connect can make that story easier for mainland investors to own, while its dual-primary Hong Kong listing broadens access. The bear case is that improved trading access does not repair weak advertising, guarantee cloud share, or remove geopolitical and regulatory risk. The catalyst affects liquidity more directly than earnings.
Insider Monkey counted 49 hedge funds holding Baidu, Inc. (NASDAQ:BIDU) at June 30, down from 50 at March 31. David Tepper's Appaloosa Management disclosed 1,295,000 shares, 87% more than in Q1. That increase shows one manager's conviction, not a broad rise in fund participation.
Alibaba's June-quarter AI Cloud and Compute Services revenue reached $7.1 billion, up 45% year over year, while segment adjusted EBITA rose 133% to $830 million. Its bull case is a full stack spanning Qwen models, cloud, proprietary chips, and commerce distribution. The bear case is capital intensity, fierce domestic competition, exposure to consumer spending, and the possibility that fast AI growth remains too small to transform the larger group's valuation.
Ninety-seven hedge funds held Alibaba Group Holding Limited (NYSE:BABA) in Q2, down from 102 in Q1. Ken Fisher's Fisher **** et Management disclosed 5,096,418 shares after trimming the position by 0.5%.
#kong #holding
1 month ago
Artificial intelligence companies are racing to secure one increasingly valuable resource: computing power.
That race has resulted in massive investment in Nvidia (NVDA) processors, data centers, and power. It has also spawned a new breed of specialist cloud providers promising to provide the infrastructure necessary to train and operate ever more advanced AI models.
Now firms are putting a stunning amount behind that demand.
U.K.-based AI infrastructure firm Nscale is telling potential investors that it has about $103 billion in total contracted revenue, according to documents reviewed by The Information and cited by Reuters. The Nvidia-backed startup might launch an initial public offering as early as September.
However, the headline figure comes with a crucial caveat.
#reuters
That race has resulted in massive investment in Nvidia (NVDA) processors, data centers, and power. It has also spawned a new breed of specialist cloud providers promising to provide the infrastructure necessary to train and operate ever more advanced AI models.
Now firms are putting a stunning amount behind that demand.
U.K.-based AI infrastructure firm Nscale is telling potential investors that it has about $103 billion in total contracted revenue, according to documents reviewed by The Information and cited by Reuters. The Nvidia-backed startup might launch an initial public offering as early as September.
However, the headline figure comes with a crucial caveat.
#reuters
1 month ago
The wheat complex closed the midweek session with winter wheats fading lower and spring wheat closing higher. Chicago SRW contracts were down 2 to 9 ¼ cents on Wednesday. There were another 9 deliveries overnight against Sep CBT wheat. KC HRW futures were down 1 ¾ to 11 cents in most contracts at the close. There were 29 delivery notices for September KC wheat overnight. MPLS spring wheat was the firmest of the three exchanges, up 4 ¼ to 12 cents.
Overnight, Russia suspended the export duty on grain exports through the end of the year.
Cocoa Prices Tumble as Supplies Increase
Coffee Prices Finish Sharply Lower on Supply Pressures
Harvest Pressures Weigh on Coffee Prices
#contracts #down
Overnight, Russia suspended the export duty on grain exports through the end of the year.
Cocoa Prices Tumble as Supplies Increase
Coffee Prices Finish Sharply Lower on Supply Pressures
Harvest Pressures Weigh on Coffee Prices
#contracts #down
1 month ago
What happened: GameStop (GME) stock jumped about 5% on Monday.
What's behind the move: The video game retailer announced preliminary results for its second quarter, saying it expects a boost in Q2 profit in part due to its stake in eBay (EBAY).
The video game retailer said it expects net income of $290 million to $310 million for its quarter ending Aug. 1, compared to net income of $168.6 million in the prior year's second quarter.
GameStop converted its eBay derivative position into eBay shares, which generated about $238 million in gains. The video game retailer owns 43.4 million shares of eBay common stock, valued at more than $4.9 billion. The eBay stake is doing the heavy lifting for the company's bottom line, as the company's revenue is expected to show a decline.
#game #quarter #second #expects
What's behind the move: The video game retailer announced preliminary results for its second quarter, saying it expects a boost in Q2 profit in part due to its stake in eBay (EBAY).
The video game retailer said it expects net income of $290 million to $310 million for its quarter ending Aug. 1, compared to net income of $168.6 million in the prior year's second quarter.
GameStop converted its eBay derivative position into eBay shares, which generated about $238 million in gains. The video game retailer owns 43.4 million shares of eBay common stock, valued at more than $4.9 billion. The eBay stake is doing the heavy lifting for the company's bottom line, as the company's revenue is expected to show a decline.
#game #quarter #second #expects
1 month ago
Alibaba Group Holding Limited announced the placement of $80 billion HK for 710 million newly issued ordinary shares to non-U.S. investors outside the U.S. The price is $112.70 HK per placement share and is expected to close Aug. 26.
"The equity placement is being undertaken to extend the company's global AI leadership," the company said in a statement Monday. "Alibaba intends to use 100 percent of the net proceeds from the equity placement to invest in its full-stack AI capabilities, including to expand and enhance its AI infrastructure."
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'Moneymaxxing' and Why Holiday Shoppers Are Doing It.
#alibaba #group #Monday #embrace
"The equity placement is being undertaken to extend the company's global AI leadership," the company said in a statement Monday. "Alibaba intends to use 100 percent of the net proceeds from the equity placement to invest in its full-stack AI capabilities, including to expand and enhance its AI infrastructure."
More from WWD
Holiday Shoppers Embrace AI, Retailers Struggle to Keep Up
'Moneymaxxing' and Why Holiday Shoppers Are Doing It.
#alibaba #group #Monday #embrace
1 month ago
Metso has agreed to acquire Valmet's peristaltic hose pump and progressive cavity pump technologies, along with related aftermarket spare parts and service capabilities.
The deal is aimed at enhancing Metso's portfolio of slurry handling solutions for mining and industrial sectors.
Metso and Valmet did not disclose the value of the transaction, which is expected to close on 1 October 2026.
The acquired business, currently marketed under the Flowrox brand, covers pump technologies designed for demanding process conditions.
These pumps are used in applications such as transferring and dosing abrasive, corrosive, viscous and crystallising slurries, tasks common in the mining industry.
#technologies #mining #october #peristaltic
The deal is aimed at enhancing Metso's portfolio of slurry handling solutions for mining and industrial sectors.
Metso and Valmet did not disclose the value of the transaction, which is expected to close on 1 October 2026.
The acquired business, currently marketed under the Flowrox brand, covers pump technologies designed for demanding process conditions.
These pumps are used in applications such as transferring and dosing abrasive, corrosive, viscous and crystallising slurries, tasks common in the mining industry.
#technologies #mining #october #peristaltic
2 months ago
Toll Brothers, Inc. (NYSE:TOL) beat consensus estimates for its fiscal third quarter even as fewer deliveries reduced home-sales revenue and weaker margins and impairment charges weighed on profit. Total revenue declined 9.7% to $2.66 billion, while deliveries fell to 2,662 homes from 2,959. Diluted earnings dropped to $2.97 per share from $3.73 but exceeded the consensus estimate of $2.93. Shares edged higher in early after-hours trading on August 18.
The mix was more encouraging than the headline decline. Toll Brothers, Inc. (NYSE:TOL) delivered homes at an average price of $996,400, while net signed contracts increased 5% in both units and value to 2,508 homes worth $2.52 billion. The question is whether affluent demand and high selling prices can protect earnings as delivery volume shrinks.
Toll Brothers, Inc. (NYSE:TOL) reaffirmed its major full-year targets, including approximately $10.5 billion of home-sales revenue and a 26.1% adjusted home-sales gross margin. It narrowed expected deliveries to 10,500 to 10,600 homes and raised the lower end of its average delivered-price forecast to $995,000.
Toll Brothers, Inc. (NYSE:TOL) serves an affluent customer base. In fiscal 2025, 25% of its buyers paid entirely in cash, while financed buyers borrowed an average of 69% of the purchase price. That financing profile helps explain why signed contracts continued growing despite elevated mortgage rates.
Buyer commitment also held up. Toll Brothers, Inc. (NYSE:TOL) reported cancellations equal to 5.4% of contracts signed during the quarter, down from 7.5% a year earlier. Quarterly cancellations equaled 2.6% of beginning-quarter backlog, down from 3.2%. Buyers entering contracts are still following through, supporting future deliveries.
#toll #home #sales
The mix was more encouraging than the headline decline. Toll Brothers, Inc. (NYSE:TOL) delivered homes at an average price of $996,400, while net signed contracts increased 5% in both units and value to 2,508 homes worth $2.52 billion. The question is whether affluent demand and high selling prices can protect earnings as delivery volume shrinks.
Toll Brothers, Inc. (NYSE:TOL) reaffirmed its major full-year targets, including approximately $10.5 billion of home-sales revenue and a 26.1% adjusted home-sales gross margin. It narrowed expected deliveries to 10,500 to 10,600 homes and raised the lower end of its average delivered-price forecast to $995,000.
Toll Brothers, Inc. (NYSE:TOL) serves an affluent customer base. In fiscal 2025, 25% of its buyers paid entirely in cash, while financed buyers borrowed an average of 69% of the purchase price. That financing profile helps explain why signed contracts continued growing despite elevated mortgage rates.
Buyer commitment also held up. Toll Brothers, Inc. (NYSE:TOL) reported cancellations equal to 5.4% of contracts signed during the quarter, down from 7.5% a year earlier. Quarterly cancellations equaled 2.6% of beginning-quarter backlog, down from 3.2%. Buyers entering contracts are still following through, supporting future deliveries.
#toll #home #sales
