53 mins. ago
Alluvium ******* et Management, an ******* et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block, and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted McKesson Corporation (NYSE:MCK). McKesson Corporation (NYSE:MCK) is a leading healthcare services company headquartered in Irving, Texas. On September 15, 2026, McKesson Corporation (NYSE:MCK) closed at $899.56 per share. Over the past month. McKesson Corporation (NYSE:MCK) returned 5.37% and its shares gained 29.95% over the past 52 weeks. McKesson Corporation (NYSE:MCK) has a market capitalization of $106.21 billion, and its stock has traded with a range of $687.68 and $999.00.
Conventum – Alluvium Global Fund stated the following regarding McKesson Corporation (NYSE:MCK) in its Q2 2026 investor letter:
"Our two healthcare companies had a poor quarter (in terms of share price performance, not business fundamentals). McKesson Corporation (NYSE:MCK), the drug distributor (down 12.6%), reported its full year results which were perfectly in-line with our expectations. Management provided strong guidance for its next year's earnings, and reiterated its 13%-16% long term growth expectations. After feeding the numbers through our model, our valuation increased by 18%, and with the share price trading below it, we bought a little more such that it accounts for 6.8% of the Fund."
McKesson Corporation (NYSE:MCK) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 77 hedge fund portfolios held McKesson Corporation (NYSE:MCK) at the end of the second quarter which was 73 in the previous quarter. While we acknowledge the potential of McKesson Corporation (NYSE:MCK) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#NYSE #fund #conventum #global
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted McKesson Corporation (NYSE:MCK). McKesson Corporation (NYSE:MCK) is a leading healthcare services company headquartered in Irving, Texas. On September 15, 2026, McKesson Corporation (NYSE:MCK) closed at $899.56 per share. Over the past month. McKesson Corporation (NYSE:MCK) returned 5.37% and its shares gained 29.95% over the past 52 weeks. McKesson Corporation (NYSE:MCK) has a market capitalization of $106.21 billion, and its stock has traded with a range of $687.68 and $999.00.
Conventum – Alluvium Global Fund stated the following regarding McKesson Corporation (NYSE:MCK) in its Q2 2026 investor letter:
"Our two healthcare companies had a poor quarter (in terms of share price performance, not business fundamentals). McKesson Corporation (NYSE:MCK), the drug distributor (down 12.6%), reported its full year results which were perfectly in-line with our expectations. Management provided strong guidance for its next year's earnings, and reiterated its 13%-16% long term growth expectations. After feeding the numbers through our model, our valuation increased by 18%, and with the share price trading below it, we bought a little more such that it accounts for 6.8% of the Fund."
McKesson Corporation (NYSE:MCK) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 77 hedge fund portfolios held McKesson Corporation (NYSE:MCK) at the end of the second quarter which was 73 in the previous quarter. While we acknowledge the potential of McKesson Corporation (NYSE:MCK) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#NYSE #fund #conventum #global
2 hours ago
Lumson has purchased Lombardi Design and Manufacturing in the US, along with full ownership of Lombardi Design & MFG in Asia.
Financial terms of the deals remain undisclosed.
The deals form part of Lumson's wider international expansion plan and are intended to add to its industrial and technological capacity while extending its reach in primary packaging for the beauty and personal care sector.
With the two transactions, Lumson has a direct presence in Europe, North America and Asia.
The broader footprint will support work with international clients, help build industrial and commercial ties across markets, and open access to regions.
#financial #Europe
Financial terms of the deals remain undisclosed.
The deals form part of Lumson's wider international expansion plan and are intended to add to its industrial and technological capacity while extending its reach in primary packaging for the beauty and personal care sector.
With the two transactions, Lumson has a direct presence in Europe, North America and Asia.
The broader footprint will support work with international clients, help build industrial and commercial ties across markets, and open access to regions.
#financial #Europe
2 hours ago
On the September 11 episode of Mad Money, Jim Cramer expressed strong optimism for Brinker International, Inc. (NYSE:EAT) ahead of its upcoming **** yst presentation, as he said:
Thursday, we have two important **** yst meetings. Brinker... We have them all the time on the show. Brinker, you know, is Chili's, and the company never fails to wow me. I think this meeting will be no exception.
Brinker International, Inc. (NYSE:EAT) continues to demonstrate operational strength across the casual dining sector, driven by sustained customer traffic and menu innovation at Chili's Grill & Bar. In its fourth quarter of fiscal 2026, the company generated $1.54 billion in total revenue, bringing full-year revenues to $5.81 billion. Adjusted earnings per share for the quarter reached $3.07, representing a 23% year-over-year increase.
Chili's reported a 5.6% increase in comparable store sales, marking its 21st consecutive quarter of positive same-store sales growth. The sustained momentum has been supported by the ongoing success of the $10.99 "3 for Me" everyday value platform as well as targeted menu launches, including the Big Crispy Chicken Sandwich, which helped support traffic as Chili's continued positioning its value proposition against fast-food offerings. According to the company's CEO Kevin Hochman, the Big Crispy Chicken Sandwich "overdelivered" on the management's estimates.
Despite consistent top-line momentum, Brinker International, Inc. (NYSE:EAT) faces ongoing execution risks **** ociated with sticky cost inflation and broader macroeconomic pressures on consumer spending. Elevated wholesale prices for core commodities, especially beef and produce, continue to weigh on restaurant operating costs, while wage growth across regional markets keeps labor expenses elevated.
#NYSE
Thursday, we have two important **** yst meetings. Brinker... We have them all the time on the show. Brinker, you know, is Chili's, and the company never fails to wow me. I think this meeting will be no exception.
Brinker International, Inc. (NYSE:EAT) continues to demonstrate operational strength across the casual dining sector, driven by sustained customer traffic and menu innovation at Chili's Grill & Bar. In its fourth quarter of fiscal 2026, the company generated $1.54 billion in total revenue, bringing full-year revenues to $5.81 billion. Adjusted earnings per share for the quarter reached $3.07, representing a 23% year-over-year increase.
Chili's reported a 5.6% increase in comparable store sales, marking its 21st consecutive quarter of positive same-store sales growth. The sustained momentum has been supported by the ongoing success of the $10.99 "3 for Me" everyday value platform as well as targeted menu launches, including the Big Crispy Chicken Sandwich, which helped support traffic as Chili's continued positioning its value proposition against fast-food offerings. According to the company's CEO Kevin Hochman, the Big Crispy Chicken Sandwich "overdelivered" on the management's estimates.
Despite consistent top-line momentum, Brinker International, Inc. (NYSE:EAT) faces ongoing execution risks **** ociated with sticky cost inflation and broader macroeconomic pressures on consumer spending. Elevated wholesale prices for core commodities, especially beef and produce, continue to weigh on restaurant operating costs, while wage growth across regional markets keeps labor expenses elevated.
#NYSE
2 hours ago
When people picture ***** e Exploration Technologies (NASDAQ: SPCX), the first things that likely come to their minds are its reusable Falcon rockets. What investors may not fully grasp is that ***** eX is building a three-headed machine across launch, satellite internet, and artificial intelligence (AI) computing.
Currently, ***** eX boasts a market capitalization of just under $2 trillion. The question I am wondering is whether the AI pillar can stretch that value toward $3 trillion without the broader story falling apart.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The short answer to that question is yes, it's possible. But it's not guaranteed. ***** eX's path to a $3 trillion market cap would have to run through cash flow that thus far has come from just one side of the business, but that now has a second engine quietly warming up.
The ***** e business was ***** eX's original foundation. This segment specializes in launching rockets -- the Falcon 9 and Falcon Heavy -- that carry NASA crews and cargo, as well as private company payloads.
#rockets
Currently, ***** eX boasts a market capitalization of just under $2 trillion. The question I am wondering is whether the AI pillar can stretch that value toward $3 trillion without the broader story falling apart.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The short answer to that question is yes, it's possible. But it's not guaranteed. ***** eX's path to a $3 trillion market cap would have to run through cash flow that thus far has come from just one side of the business, but that now has a second engine quietly warming up.
The ***** e business was ***** eX's original foundation. This segment specializes in launching rockets -- the Falcon 9 and Falcon Heavy -- that carry NASA crews and cargo, as well as private company payloads.
#rockets
3 hours ago
Walmart and SCAN Health Plan announced a partnership on Wednesday to offer co-branded Medicare Advantage plans in two states, targeting a pool of more than two million Medicare enrollees.
The plans, pending regulatory approval, may include pharmacy, vision, food, and over-the-counter benefits, the companies said. Open enrollment for Medicare Advantage begins Oct. 15, according to MarketWatch.
A central feature of the partnership is Walmart's Everyday Health Signals platform, an AI tool designed to provide personalized nutrition and wellness guidance based on members' shopping preferences and self-reported wellness goals. The companies said they plan to make that capability available to participating plan members as part of broader coaching and wellness support.
"By combining Walmart's technology capabilities and consumer retail expertise with SCAN's Medicare product experience, we have an opportunity to develop products that translate those insights into meaningful support that helps members make more informed choices about their health and well-being," said Zack Myers, national general manager of SCAN Health Plan, in a statement.
Walmart Group Director for Consumer Health and Data Solutions Pravene Nath said the collaboration is distinct because of Walmart's role in customers' everyday lives. "Because customers regularly turn to Walmart for groceries and other everyday essentials, we have an opportunity for those who choose to participate, to use insights from their shopping experiences to make nutrition guidance more relevant and actionable," Nath said in a statement.
#plan #Wellness #members #advantage
The plans, pending regulatory approval, may include pharmacy, vision, food, and over-the-counter benefits, the companies said. Open enrollment for Medicare Advantage begins Oct. 15, according to MarketWatch.
A central feature of the partnership is Walmart's Everyday Health Signals platform, an AI tool designed to provide personalized nutrition and wellness guidance based on members' shopping preferences and self-reported wellness goals. The companies said they plan to make that capability available to participating plan members as part of broader coaching and wellness support.
"By combining Walmart's technology capabilities and consumer retail expertise with SCAN's Medicare product experience, we have an opportunity to develop products that translate those insights into meaningful support that helps members make more informed choices about their health and well-being," said Zack Myers, national general manager of SCAN Health Plan, in a statement.
Walmart Group Director for Consumer Health and Data Solutions Pravene Nath said the collaboration is distinct because of Walmart's role in customers' everyday lives. "Because customers regularly turn to Walmart for groceries and other everyday essentials, we have an opportunity for those who choose to participate, to use insights from their shopping experiences to make nutrition guidance more relevant and actionable," Nath said in a statement.
#plan #Wellness #members #advantage
4 hours ago
Alluvium ****** et Management, an ****** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block, and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted LyondellBasell Industries N.V. (NYSE:LYB). LyondellBasell Industries N.V. (NYSE:LYB) is a multinational chemical and plastic manufacturing company. On September 15, 2026, LyondellBasell Industries N.V. (NYSE:LYB) closed at $65.43 per share. Over the past month, LyondellBasell Industries N.V. (NYSE:LYB) declined 0.95% while its shares gained 22.25% over the past 52 weeks. LyondellBasell Industries N.V. (NYSE:LYB) has a market capitalization of $21.14 billion, and its stock has traded within a 52-week range of $41.58 and $83.94.
Conventum – Alluvium Global Fund stated the following regarding LyondellBasell Industries N.V. (NYSE:LYB) in its Q2 2026 investor letter:
"LyondellBasell Industries N.V. (NYSE:LYB), the plastics producer gave back some of that 88.3% return of last quarter, and fell 34.0%, We are continually amazed by the market's response to the war in Iraq. It seems that this so called "ceasefire" (the one where Iran keeps attacking ships in the Strait of Hormuz and the US keeps bombing) has led to expectations that all is well for the affected commodity markets. Management provided results in early May, and reported expectations that the higher prices will be sustained for some time. That makes sense to us. But since then, Polyethylene and Polypropylene prices, for example, have fallen by around 15%. After we sold around two thirds of our holding during the March quarter, we ceased as the price fell to levels below our valuation. It currently accounts for 2.1% of the Fund and we are comfortable with maintaining this position."
LyondellBasell Industries N.V. (NYSE:LYB) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held LyondellBasell Industries N.V. (NYSE:LYB) at the end of the second quarter which was 59 in the previous quarter. While we acknowledge the potential of LyondellBasell Industries N.V. (NYSE:LYB) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted LyondellBasell Industries N.V. (NYSE:LYB). LyondellBasell Industries N.V. (NYSE:LYB) is a multinational chemical and plastic manufacturing company. On September 15, 2026, LyondellBasell Industries N.V. (NYSE:LYB) closed at $65.43 per share. Over the past month, LyondellBasell Industries N.V. (NYSE:LYB) declined 0.95% while its shares gained 22.25% over the past 52 weeks. LyondellBasell Industries N.V. (NYSE:LYB) has a market capitalization of $21.14 billion, and its stock has traded within a 52-week range of $41.58 and $83.94.
Conventum – Alluvium Global Fund stated the following regarding LyondellBasell Industries N.V. (NYSE:LYB) in its Q2 2026 investor letter:
"LyondellBasell Industries N.V. (NYSE:LYB), the plastics producer gave back some of that 88.3% return of last quarter, and fell 34.0%, We are continually amazed by the market's response to the war in Iraq. It seems that this so called "ceasefire" (the one where Iran keeps attacking ships in the Strait of Hormuz and the US keeps bombing) has led to expectations that all is well for the affected commodity markets. Management provided results in early May, and reported expectations that the higher prices will be sustained for some time. That makes sense to us. But since then, Polyethylene and Polypropylene prices, for example, have fallen by around 15%. After we sold around two thirds of our holding during the March quarter, we ceased as the price fell to levels below our valuation. It currently accounts for 2.1% of the Fund and we are comfortable with maintaining this position."
LyondellBasell Industries N.V. (NYSE:LYB) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held LyondellBasell Industries N.V. (NYSE:LYB) at the end of the second quarter which was 59 in the previous quarter. While we acknowledge the potential of LyondellBasell Industries N.V. (NYSE:LYB) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-
4 hours ago
Alluvium **** et Management, an **** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Alphabet Inc. (NASDAQ:GOOG). Alphabet Inc. (NASDAQ:GOOG), the parent company of Google, offers various platforms and services, including online search and advertising, cloud solutions, and artificial intelligence. On September 15, 2026, Alphabet Inc. (NASDAQ:GOOG) closed at $341.43 per share, reflecting a market capitalization of $4.2 trillion. Alphabet Inc. (NASDAQ:GOOG) posted a one-month return of -0.08%, while its shares gained 36.65% over the past 52 weeks.
Conventum – Alluvium Global Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its Q2 2026 investor letter:
"Alphabet Inc. (NASDAQ:GOOG) was the Fund's strongest performer over the quarter, up 24.4%. There's little to add from our last report, except that its 22% revenue growth exceeded our expectations, and it seems it can't keep up with demand, hence it has increased, yet again (and somewhat worryingly) its capital expenditure to budget (to USD 190b) and expects further increases next year."
Alphabet Inc. (NASDAQ:GOOG) ranks 7th on our list of 40 Most Popular Stocks Among Hedge Funds. As per our database, 195 hedge fund portfolios held Alphabet Inc. (NASDAQ:GOOG) at the end of the second quarter, which was 201 in the previous quarter. While we acknowledge the potential of Alphabet Inc. (NASDAQ:GOOG) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#goog #fund #conventum
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Alphabet Inc. (NASDAQ:GOOG). Alphabet Inc. (NASDAQ:GOOG), the parent company of Google, offers various platforms and services, including online search and advertising, cloud solutions, and artificial intelligence. On September 15, 2026, Alphabet Inc. (NASDAQ:GOOG) closed at $341.43 per share, reflecting a market capitalization of $4.2 trillion. Alphabet Inc. (NASDAQ:GOOG) posted a one-month return of -0.08%, while its shares gained 36.65% over the past 52 weeks.
Conventum – Alluvium Global Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its Q2 2026 investor letter:
"Alphabet Inc. (NASDAQ:GOOG) was the Fund's strongest performer over the quarter, up 24.4%. There's little to add from our last report, except that its 22% revenue growth exceeded our expectations, and it seems it can't keep up with demand, hence it has increased, yet again (and somewhat worryingly) its capital expenditure to budget (to USD 190b) and expects further increases next year."
Alphabet Inc. (NASDAQ:GOOG) ranks 7th on our list of 40 Most Popular Stocks Among Hedge Funds. As per our database, 195 hedge fund portfolios held Alphabet Inc. (NASDAQ:GOOG) at the end of the second quarter, which was 201 in the previous quarter. While we acknowledge the potential of Alphabet Inc. (NASDAQ:GOOG) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#goog #fund #conventum
4 hours ago
Alluvium **** et Management, an **** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Liberty Capital Corporation (NASDAQ:GLIBK). Liberty Capital Corporation (NASDAQ:GLIBK) is a communication services company that provides a range of data, wireless, video, voice, and managed services. GCI Liberty, Inc. rebranded to Liberty Capital Corporation (NASDAQ:GLIBK) in May 2026. On September 15, 2026, Liberty Capital Corporation (NASDAQ:GLIBK) closed at $25.55 per share. Over the past month, Liberty Capital Corporation (NASDAQ:GLIBK) declined 1.50% and its shares lost 27.02% over the past 52 weeks. Liberty Capital Corporation (NASDAQ:GLIBK) has a market capitalization of $1.02 billion, and its stock trades within a 52-week range of $19.30 and $41.18.
Conventum – Alluvium Global Fund stated the following regarding Liberty Capital Corporation (NASDAQ:GLIBK) in its Q2 2026 investor letter:
"GCI Liberty, the Alaskan cable business that was spun out of Liberty Broadband, has been renamed Liberty Capital Corporation (NASDAQ:GLIBK) (to reflect a future which is expected to include a broader array of businesses, and with its legacy GCI Alaska cable business being the solid "cash cow"). It fell 40.6%. There was plenty of news. Most notable was its USD 360m acquisition of Quintillion, which owns around 3,000 kilometres of fibre cable and plans to expand it by a further 2,500 kilometres or so. This perfectly aligns with Liberty's GCI operations. We understand Quintillion generates around USD 55-60m in revenue and USD 30m in free cash. We would expect significant synergies (reportedly around USD 20m) so we have little doubt that the deal adds value. And in fact, when we incorporate it into our model, the valuation uplift is around 35%. Management also decided to retreat from the competitive and low margin video business. And finally, Liberty Capital had intended to acquire an interest in Liberty Latin America by striking a deal for an initial 6% stake and building on that by buying John Malone's interest. For some reason this did not proceed which perhaps spooked the market. With the share price falling (to levels approximating half our valuation), and encouraged by its CEO buying shares, we increased our
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Liberty Capital Corporation (NASDAQ:GLIBK). Liberty Capital Corporation (NASDAQ:GLIBK) is a communication services company that provides a range of data, wireless, video, voice, and managed services. GCI Liberty, Inc. rebranded to Liberty Capital Corporation (NASDAQ:GLIBK) in May 2026. On September 15, 2026, Liberty Capital Corporation (NASDAQ:GLIBK) closed at $25.55 per share. Over the past month, Liberty Capital Corporation (NASDAQ:GLIBK) declined 1.50% and its shares lost 27.02% over the past 52 weeks. Liberty Capital Corporation (NASDAQ:GLIBK) has a market capitalization of $1.02 billion, and its stock trades within a 52-week range of $19.30 and $41.18.
Conventum – Alluvium Global Fund stated the following regarding Liberty Capital Corporation (NASDAQ:GLIBK) in its Q2 2026 investor letter:
"GCI Liberty, the Alaskan cable business that was spun out of Liberty Broadband, has been renamed Liberty Capital Corporation (NASDAQ:GLIBK) (to reflect a future which is expected to include a broader array of businesses, and with its legacy GCI Alaska cable business being the solid "cash cow"). It fell 40.6%. There was plenty of news. Most notable was its USD 360m acquisition of Quintillion, which owns around 3,000 kilometres of fibre cable and plans to expand it by a further 2,500 kilometres or so. This perfectly aligns with Liberty's GCI operations. We understand Quintillion generates around USD 55-60m in revenue and USD 30m in free cash. We would expect significant synergies (reportedly around USD 20m) so we have little doubt that the deal adds value. And in fact, when we incorporate it into our model, the valuation uplift is around 35%. Management also decided to retreat from the competitive and low margin video business. And finally, Liberty Capital had intended to acquire an interest in Liberty Latin America by striking a deal for an initial 6% stake and building on that by buying John Malone's interest. For some reason this did not proceed which perhaps spooked the market. With the share price falling (to levels approximating half our valuation), and encouraged by its CEO buying shares, we increased our
4 hours ago
Alluvium ***** et Management, an ***** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block, and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Ryanair Holdings plc (NASDAQ:RYAAY). Headquartered in Swords, Ireland, Ryanair Holdings plc (NASDAQ:RYAAY) provides scheduled passenger airline services. On September 15, 2026, Ryanair Holdings plc (NASDAQ:RYAAY) closed at $51.95 per share. Over the past month, Ryanair Holdings plc (NASDAQ:RYAAY) declined 5.18%, and its shares lost 9.81% over the past 52 weeks. Ryanair Holdings plc (NASDAQ:RYAAY) has a market capitalization of $26.32 billion and its stock has traded within a 52-week range of $51.68 and $74.24.
Conventum – Alluvium Global Fund stated the following regarding Ryanair Holdings plc (NASDAQ:RYAAY) in its Q2 2026 investor letter:
"Similarly with Ryanair Holdings plc (NASDAQ:RYAAY) (up 14.6%) its share price was faltering and we added to our position, but it since bounced back to account for more than 10% of the Fund, so in this case we were forced to sell a little. It now accounts for 9.9% of the Fund."
Ryanair Holdings plc (NASDAQ:RYAAY) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Ryanair Holdings plc (NASDAQ:RYAAY) at the end of the second quarter which was 29 in the previous quarter. While we acknowledge the potential of Ryanair Holdings plc (NASDAQ:RYAAY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#ryanair
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Ryanair Holdings plc (NASDAQ:RYAAY). Headquartered in Swords, Ireland, Ryanair Holdings plc (NASDAQ:RYAAY) provides scheduled passenger airline services. On September 15, 2026, Ryanair Holdings plc (NASDAQ:RYAAY) closed at $51.95 per share. Over the past month, Ryanair Holdings plc (NASDAQ:RYAAY) declined 5.18%, and its shares lost 9.81% over the past 52 weeks. Ryanair Holdings plc (NASDAQ:RYAAY) has a market capitalization of $26.32 billion and its stock has traded within a 52-week range of $51.68 and $74.24.
Conventum – Alluvium Global Fund stated the following regarding Ryanair Holdings plc (NASDAQ:RYAAY) in its Q2 2026 investor letter:
"Similarly with Ryanair Holdings plc (NASDAQ:RYAAY) (up 14.6%) its share price was faltering and we added to our position, but it since bounced back to account for more than 10% of the Fund, so in this case we were forced to sell a little. It now accounts for 9.9% of the Fund."
Ryanair Holdings plc (NASDAQ:RYAAY) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Ryanair Holdings plc (NASDAQ:RYAAY) at the end of the second quarter which was 29 in the previous quarter. While we acknowledge the potential of Ryanair Holdings plc (NASDAQ:RYAAY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#ryanair
4 hours ago
Alluvium **** et Management, an **** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Charter Communications, Inc. (NASDAQ:CHTR). Charter Communications, Inc. (NASDAQ:CHTR) is a US-based broadband connectivity company. On September 15, 2026, Charter Communications, Inc. (NASDAQ:CHTR) closed at $141.20 per share. Over the past month, Charter Communications, Inc. (NASDAQ:CHTR) declined 7.39% and its shares lost 47.32% over the past 52 weeks. Charter Communications, Inc. (NASDAQ:CHTR) has a market capitalization of $24.73 billion and its stock has traded within a 52-week range of $111.55 and $285.82.
Conventum – Alluvium Global Fund stated the following regarding Charter Communications, Inc. (NASDAQ:CHTR) in its Q2 2026 investor letter:
"Charter Communications, Inc. (NASDAQ:CHTR) and its tracking stock Liberty Broadband fell 34.1% and 33.7% following the release of Charter's results in April. It seems the market is understandably concerned with the average revenue per user (ARPU) being flat, and the continual loss of internet customers. Competition is intense from both fixed wireless providers and low earth orbit satellite (Starlink). Compared to Charter's cables, these are higher cost and more capacity constrained. Charter's flat ARPU is the result of its decision to provide a demonstrably better offering at a low price - so why is it losing so many internet customers? We do not know the answer. We do know though that it is growing its mobile subscribers at a much faster rate than it is losing its internet customers, and more than half of its residential customers subscribe to more than one product. We also see positives stemming from the pending **** acquisition, and indeed management increased expected synergies by 60%. It seems to us that the broader market has extrapolated current conditions to perpetuity..." (Click here to read the full text)
#fund
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Charter Communications, Inc. (NASDAQ:CHTR). Charter Communications, Inc. (NASDAQ:CHTR) is a US-based broadband connectivity company. On September 15, 2026, Charter Communications, Inc. (NASDAQ:CHTR) closed at $141.20 per share. Over the past month, Charter Communications, Inc. (NASDAQ:CHTR) declined 7.39% and its shares lost 47.32% over the past 52 weeks. Charter Communications, Inc. (NASDAQ:CHTR) has a market capitalization of $24.73 billion and its stock has traded within a 52-week range of $111.55 and $285.82.
Conventum – Alluvium Global Fund stated the following regarding Charter Communications, Inc. (NASDAQ:CHTR) in its Q2 2026 investor letter:
"Charter Communications, Inc. (NASDAQ:CHTR) and its tracking stock Liberty Broadband fell 34.1% and 33.7% following the release of Charter's results in April. It seems the market is understandably concerned with the average revenue per user (ARPU) being flat, and the continual loss of internet customers. Competition is intense from both fixed wireless providers and low earth orbit satellite (Starlink). Compared to Charter's cables, these are higher cost and more capacity constrained. Charter's flat ARPU is the result of its decision to provide a demonstrably better offering at a low price - so why is it losing so many internet customers? We do not know the answer. We do know though that it is growing its mobile subscribers at a much faster rate than it is losing its internet customers, and more than half of its residential customers subscribe to more than one product. We also see positives stemming from the pending **** acquisition, and indeed management increased expected synergies by 60%. It seems to us that the broader market has extrapolated current conditions to perpetuity..." (Click here to read the full text)
#fund
4 hours ago
Alluvium ****** et Management, an ****** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block, and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted HCA Healthcare, Inc. (NYSE:HCA). HCA Healthcare, Inc. (NYSE:HCA) owns and operates hospitals and related healthcare entities. On September 15, 2026, HCA Healthcare, Inc. (NYSE:HCA) closed at $423.04 per share. HCA Healthcare, Inc. (NYSE:HCA) returned 3.93% over the past month, and its shares are up 5.92% over the past year. HCA Healthcare, Inc. (NYSE:HCA) has a market capitalization of $91.76 billion.
Conventum – Alluvium Global Fund stated the following regarding HCA Healthcare, Inc. (NYSE:HCA) in its Q2 2026 investor letter:
"Our two healthcare companies had a poor quarter (in terms of share price performance, not business fundamentals). HCA Healthcare, Inc. (NYSE:HCA), the hospital operator, fell 17.5%. The share price fell 8.8% immediately following its first quarter results (despite management reaffirming its 2026 guidance). We suspect this is a (over) reaction to poorer than expected respiratory volumes due to a mild flu season. With the shares trading at a discount to our valuation we bought a little more to bring the Fund's position to 6.4%."
HCA Healthcare, Inc. (NYSE:HCA) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held HCA Healthcare, Inc. (NYSE:HCA) at the end of the second quarter which was 70 in the previous quarter. While we acknowledge the potential of HCA Healthcare, Inc. (NYSE:HCA) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#healthcare #quarter #letter
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted HCA Healthcare, Inc. (NYSE:HCA). HCA Healthcare, Inc. (NYSE:HCA) owns and operates hospitals and related healthcare entities. On September 15, 2026, HCA Healthcare, Inc. (NYSE:HCA) closed at $423.04 per share. HCA Healthcare, Inc. (NYSE:HCA) returned 3.93% over the past month, and its shares are up 5.92% over the past year. HCA Healthcare, Inc. (NYSE:HCA) has a market capitalization of $91.76 billion.
Conventum – Alluvium Global Fund stated the following regarding HCA Healthcare, Inc. (NYSE:HCA) in its Q2 2026 investor letter:
"Our two healthcare companies had a poor quarter (in terms of share price performance, not business fundamentals). HCA Healthcare, Inc. (NYSE:HCA), the hospital operator, fell 17.5%. The share price fell 8.8% immediately following its first quarter results (despite management reaffirming its 2026 guidance). We suspect this is a (over) reaction to poorer than expected respiratory volumes due to a mild flu season. With the shares trading at a discount to our valuation we bought a little more to bring the Fund's position to 6.4%."
HCA Healthcare, Inc. (NYSE:HCA) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held HCA Healthcare, Inc. (NYSE:HCA) at the end of the second quarter which was 70 in the previous quarter. While we acknowledge the potential of HCA Healthcare, Inc. (NYSE:HCA) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#healthcare #quarter #letter
4 hours ago
Alluvium ***** et Management, an ***** et management company, released its "Conventum – Alluvium Global Fund" second-quarter 2026 investor letter. The letter can be downloaded here. The second quarter reflected a sharp shift from geopolitical uncertainty and oil market volatility to a powerful equity rally led by semiconductor companies. Despite the broader market strength, the Fund declined 1.4% in EUR terms, 2.2% in USD terms, and 3.9% in AUD terms. Portfolio results were mixed, with Alphabet benefiting from strong Cloud growth, while Robert Half, H&R Block, and other holdings posted solid gains. However, cable businesses and several healthcare and consumer holdings weighed on performance. Also, check the fund's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Robert Half Inc. (NYSE:RHI). Robert Half Inc. (NYSE:RHI) is a leading staffing and consulting company. On September 15, 2026, Robert Half Inc. (NYSE:RHI) closed at $38.30 per share. Over the past month, Robert Half Inc. (NYSE:RHI) declined 12.03% and its shares gained 10.28% over the past 52 weeks. Robert Half Inc. (NYSE:RHI) has a market capitalization of $3.92 billion, and its stock has traded within a 52-week range of $21.83 and $46.70.
Conventum – Alluvium Global Fund stated the following regarding Robert Half Inc. (NYSE:RHI) in its Q2 2026 investor letter:
"We last wrote about Robert Half Inc. (NYSE:RHI) (up 23.5%) in our December report, where we mentioned that hindsight suggests our purchasing during price descents in May, August and October were mistakes. This remains the case - but less so. Our expectation that the recruitment / outplacement market will slowly recover, appears, going by Robert Half's recent results, to be bearing fruit. And management remain cautiously optimistic. We did not trade the stock. The Fund's position is now 2.7%."
Robert Half Inc. (NYSE:RHI) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Robert Half Inc. (NYSE:RHI) at the end of the second quarter which was 36 in the previous quarter. While we acknowledge the potential of Robert Half Inc. (NYSE:RHI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#half #quarter #global #letter
In its second-quarter 2026 investor letter, Conventum – Alluvium Global Fund highlighted Robert Half Inc. (NYSE:RHI). Robert Half Inc. (NYSE:RHI) is a leading staffing and consulting company. On September 15, 2026, Robert Half Inc. (NYSE:RHI) closed at $38.30 per share. Over the past month, Robert Half Inc. (NYSE:RHI) declined 12.03% and its shares gained 10.28% over the past 52 weeks. Robert Half Inc. (NYSE:RHI) has a market capitalization of $3.92 billion, and its stock has traded within a 52-week range of $21.83 and $46.70.
Conventum – Alluvium Global Fund stated the following regarding Robert Half Inc. (NYSE:RHI) in its Q2 2026 investor letter:
"We last wrote about Robert Half Inc. (NYSE:RHI) (up 23.5%) in our December report, where we mentioned that hindsight suggests our purchasing during price descents in May, August and October were mistakes. This remains the case - but less so. Our expectation that the recruitment / outplacement market will slowly recover, appears, going by Robert Half's recent results, to be bearing fruit. And management remain cautiously optimistic. We did not trade the stock. The Fund's position is now 2.7%."
Robert Half Inc. (NYSE:RHI) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Robert Half Inc. (NYSE:RHI) at the end of the second quarter which was 36 in the previous quarter. While we acknowledge the potential of Robert Half Inc. (NYSE:RHI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
#half #quarter #global #letter
1 day ago
Starbucks Corporation (NASDAQ:SBUX) is betting $1 billion that leather armchairs, rugs, and bookshelves can turn a recovering coffee business into a more profitable one. The company plans to upgrade as many as 9,000 North American stores into warmer, more comfortable **** es designed to bring back customers who stopped treating Starbucks as a place to sit and stay. The strategy arrives as CEO Brian Niccol's turnaround gains traction, but investors still need to see whether higher traffic can translate into stronger margins.
Pixabay/Public Domain
The store upgrades are part of Niccol's broader "Back to Starbucks" strategy, which has already helped reverse a prolonged sales slump. Global comparable-store sales increased 7.9% in the latest quarter, with transactions up 4.2% and average ticket up 3.5%. U.S. comparable sales also rose 7.9%, indicating that the recovery is being driven by more than higher prices.
Starbucks Corporation (NASDAQ:SBUX) is spending roughly $150,000 per store on the new uplifts, far below the cost of previous renovations, and the work can generally be completed overnight without closing stores. The company expects about 1,500 upgrades to be finished by the end of September and ultimately wants to reach 8,000 to 9,000 company-operated North American locations.
That matters because Starbucks Corporation (NASDAQ:SBUX) has gradually become optimized for transactions rather than lingering. Mobile orders now account for roughly one-third of U.S. transactions, more than twice their share in 2019. The new design is therefore an attempt to restore the "third place" concept without abandoning the convenience that has become central to the business.
#corporation #NASDAQ #sales #transactions
Pixabay/Public Domain
The store upgrades are part of Niccol's broader "Back to Starbucks" strategy, which has already helped reverse a prolonged sales slump. Global comparable-store sales increased 7.9% in the latest quarter, with transactions up 4.2% and average ticket up 3.5%. U.S. comparable sales also rose 7.9%, indicating that the recovery is being driven by more than higher prices.
Starbucks Corporation (NASDAQ:SBUX) is spending roughly $150,000 per store on the new uplifts, far below the cost of previous renovations, and the work can generally be completed overnight without closing stores. The company expects about 1,500 upgrades to be finished by the end of September and ultimately wants to reach 8,000 to 9,000 company-operated North American locations.
That matters because Starbucks Corporation (NASDAQ:SBUX) has gradually become optimized for transactions rather than lingering. Mobile orders now account for roughly one-third of U.S. transactions, more than twice their share in 2019. The new design is therefore an attempt to restore the "third place" concept without abandoning the convenience that has become central to the business.
#corporation #NASDAQ #sales #transactions
2 days ago
On September 1, Korn Ferry (NYSE:KFY) completed its £850 million acquisition of UK-based AMS, from OMERS Private Equity. The deal combines two well-reputed brands, resulting in a highly well-rounded solutions provider and a leading business within the global talent and organizational consulting **** e. It offers a broader market reach to Korn Ferry, along with more extensive coverage spanning several new industries.
Copyright: baranq / 123RF Stock Photo
AMS acquisition extends Korn Ferry's existing growth trajectory, which was highlighted in the company's recently announced first quarter results. It was the sixth back-to-back quarter of topline growth, which augments the durability of Korn Ferry's fundamental business model. The company also delivered a 9% growth in its adjusted diluted EPS of $1.43, relative to the same period last year.
The AMS deal results in several strategic benefits for Korn Ferry. Based on its long-standing client relationships, AMS offers robust operational strength, along with prospects of consistent, recurring income. Such relationships also enable the company to deliver technology-led solutions at scale.
Financing of this transaction involved a mix of existing cash, share issuance and borrowings. At closing, Korn Ferry paid approximately £473 million and $326 million in cash, covering consideration to the sellers, repayment of AMS indebtedness and other transaction obligations, and issued 3,118,628 Korn Ferry shares to the sellers.
#business
Copyright: baranq / 123RF Stock Photo
AMS acquisition extends Korn Ferry's existing growth trajectory, which was highlighted in the company's recently announced first quarter results. It was the sixth back-to-back quarter of topline growth, which augments the durability of Korn Ferry's fundamental business model. The company also delivered a 9% growth in its adjusted diluted EPS of $1.43, relative to the same period last year.
The AMS deal results in several strategic benefits for Korn Ferry. Based on its long-standing client relationships, AMS offers robust operational strength, along with prospects of consistent, recurring income. Such relationships also enable the company to deliver technology-led solutions at scale.
Financing of this transaction involved a mix of existing cash, share issuance and borrowings. At closing, Korn Ferry paid approximately £473 million and $326 million in cash, covering consideration to the sellers, repayment of AMS indebtedness and other transaction obligations, and issued 3,118,628 Korn Ferry shares to the sellers.
#business
2 days ago
AMD and Intel compete for processor customers, but they have a common interest in making developers comfortable staying with x86. A September 2 GCC commit added initial support for their AI Compute Extensions, or ACE, bringing that shared strategy into a widely used compiler's development code.
For Advanced Micro Devices, Inc. (NASDAQ:AMD) and Intel Corporation (NASDAQ:INTC), the potential payoff is broader software adoption. The immediate event is much narrower: compiler infrastructure, followed by instruction-support commits. It is not evidence that compatible processors have shipped or that GCC 17 is a finished release.
The x86 Ecosystem Advisory Group's April whitepaper describes a common matrix-acceleration architecture shaped by both companies. Matrix multiplication is central to many AI workloads. A shared instruction interface could reduce the effort needed to target those operations across future processors.
That matters commercially because buyers consider the software work required to use hardware, alongside its price and performance. If developers can support both suppliers more easily, a processor purchase may depend more on execution and less on maintaining separate software paths.
For Advanced Micro Devices, Inc. (NASDAQ:AMD), the bull case is an easier route for compatible future CPUs into AI-related workloads. The risk is that a shared standard also improves the rival's appeal. Compiler support alone cannot demonstrate AMD's eventual performance advantage, customer adoption or incremental profit.
#Intel
For Advanced Micro Devices, Inc. (NASDAQ:AMD) and Intel Corporation (NASDAQ:INTC), the potential payoff is broader software adoption. The immediate event is much narrower: compiler infrastructure, followed by instruction-support commits. It is not evidence that compatible processors have shipped or that GCC 17 is a finished release.
The x86 Ecosystem Advisory Group's April whitepaper describes a common matrix-acceleration architecture shaped by both companies. Matrix multiplication is central to many AI workloads. A shared instruction interface could reduce the effort needed to target those operations across future processors.
That matters commercially because buyers consider the software work required to use hardware, alongside its price and performance. If developers can support both suppliers more easily, a processor purchase may depend more on execution and less on maintaining separate software paths.
For Advanced Micro Devices, Inc. (NASDAQ:AMD), the bull case is an easier route for compatible future CPUs into AI-related workloads. The risk is that a shared standard also improves the rival's appeal. Compiler support alone cannot demonstrate AMD's eventual performance advantage, customer adoption or incremental profit.
#Intel
2 days ago
Walmart (WMT) recently took another step into restaurant delivery, announcing a national partnership with Inspire Brands that puts it more directly in competition with DoorDash (DASH) and Uber Technologies' (UBER) Uber Eats. But the expansion announced recently is still largely limited to restaurants operating as tenants inside Walmart stores, where the logistics are considerably easier to manage. The bigger question is what happens when the company moves beyond these in-store tenants and takes on the more difficult parts of the restaurant delivery market. Until then, the current expansion says more about Walmart's ambition than its ability to become a structural competitor to the established players.
Walmart is expanding its restaurant delivery strategy through a new collaboration with Inspire Brands, whose portfolio includes Arby's, Jimmy John's, Dunkin, Baskin-Robbins, and Sonic. The partnership will bring restaurant delivery into Walmart's app. Dunkin' will be the first brand to launch, starting with 150 in-store tenant locations. Walmart and Dunkin' then plan to expand the offering to most of Dunkin's roughly 10,000 U.S. restaurants, including locations outside Walmart's stores. The broader opportunity is built around Walmart's existing physical footprint. A customer could place a restaurant order alongside a Walmart purchase and receive both through the same delivery. The retail giant says its footprint is located within 10 miles of about 90% of the U.S. population.
Dear ****** eX Stock Fans, Mark Your Calendars for September 21
How to Play IBM Stock as It Teams Up with NASA to Launch a New Open-Source Model
GF Securities Says NAND Prices May Stabilize Later This Year. What This Means for Sandisk Stock.
#uber #Stock #inspire #launch
Walmart is expanding its restaurant delivery strategy through a new collaboration with Inspire Brands, whose portfolio includes Arby's, Jimmy John's, Dunkin, Baskin-Robbins, and Sonic. The partnership will bring restaurant delivery into Walmart's app. Dunkin' will be the first brand to launch, starting with 150 in-store tenant locations. Walmart and Dunkin' then plan to expand the offering to most of Dunkin's roughly 10,000 U.S. restaurants, including locations outside Walmart's stores. The broader opportunity is built around Walmart's existing physical footprint. A customer could place a restaurant order alongside a Walmart purchase and receive both through the same delivery. The retail giant says its footprint is located within 10 miles of about 90% of the U.S. population.
Dear ****** eX Stock Fans, Mark Your Calendars for September 21
How to Play IBM Stock as It Teams Up with NASA to Launch a New Open-Source Model
GF Securities Says NAND Prices May Stabilize Later This Year. What This Means for Sandisk Stock.
#uber #Stock #inspire #launch
2 days ago
On September 10, MasterCraft Boat Holdings (NASDAQ:MCFT) reported a fiscal fourth quarter that looked nothing like the one a year earlier. Adjusted EBITDA more than doubled, margins expanded across the legacy business, and the company closed out a year defined by its May 15 acquisition of Marine Products Corporation. But buried inside those same results was a $10.1 million writedown that tells a very different story about one corner of the business.
MasterCraft's core boat business is the reason the quarter worked at all. Legacy net sales, meaning the business before the acquisition, climbed 21.5% year over year to $96.6 million in the fourth quarter, powered by the next generation X Series lineup and less discounting at the dealer level. That combination of volume and pricing pushed legacy adjusted EBITDA margin up 730 basis points to 19.3%, up from 12% a year earlier. Once the newly acquired Chaparral and Robalo brands are added in, which contributed for only six weeks after the deal closed on May 15, consolidated fourth quarter net sales reached $129.9 million, up 63.4%, and adjusted EBITDA hit $20.5 million, up 114.9%.
The company also cleaned up its channel. Dealer field inventory for the legacy business fell 30% year over year, with turnover now running ahead of pre-pandemic levels, a sign dealers are selling boats rather than sitting on them. Full-year adjusted net income reached $30.2 million, or $1.76 per diluted share, up from $15.1 million, or $0.92 per share, in fiscal 2025. The company generated $22.3 million in free cash flow for the year and, as of June 30, held $43.9 million in cash, zero debt, and a fully available $75 million credit line. MasterCraft's own retail sales grew low single digits for the year even as the broader powerboat industry fell mid to high single digits, and the newer Robalo brand posted high single-digit retail growth in the fishing boat category.
The picture gets murkier once you look past the flagship brand. The Leisure segment, home to the Crest and Balise pontoon boats, saw fourth-quarter sales fall 11.2% year over year to $12.1 million, and the company booked a $10.1 million non-cash impairment against Crest brand ******* ets tied to what management called current category conditions. On a GAAP basis, that charge combined with acquisition costs and purchase accounting adjustments turned the quarter into a net loss of $7 million, or $0.35 per diluted share, compared to net income of $5.5 million a year earlier. Operating expenses rose $23.1 million in the quarter, including $5.9 million in transaction costs tied to the acquisition.
#million #legacy
MasterCraft's core boat business is the reason the quarter worked at all. Legacy net sales, meaning the business before the acquisition, climbed 21.5% year over year to $96.6 million in the fourth quarter, powered by the next generation X Series lineup and less discounting at the dealer level. That combination of volume and pricing pushed legacy adjusted EBITDA margin up 730 basis points to 19.3%, up from 12% a year earlier. Once the newly acquired Chaparral and Robalo brands are added in, which contributed for only six weeks after the deal closed on May 15, consolidated fourth quarter net sales reached $129.9 million, up 63.4%, and adjusted EBITDA hit $20.5 million, up 114.9%.
The company also cleaned up its channel. Dealer field inventory for the legacy business fell 30% year over year, with turnover now running ahead of pre-pandemic levels, a sign dealers are selling boats rather than sitting on them. Full-year adjusted net income reached $30.2 million, or $1.76 per diluted share, up from $15.1 million, or $0.92 per share, in fiscal 2025. The company generated $22.3 million in free cash flow for the year and, as of June 30, held $43.9 million in cash, zero debt, and a fully available $75 million credit line. MasterCraft's own retail sales grew low single digits for the year even as the broader powerboat industry fell mid to high single digits, and the newer Robalo brand posted high single-digit retail growth in the fishing boat category.
The picture gets murkier once you look past the flagship brand. The Leisure segment, home to the Crest and Balise pontoon boats, saw fourth-quarter sales fall 11.2% year over year to $12.1 million, and the company booked a $10.1 million non-cash impairment against Crest brand ******* ets tied to what management called current category conditions. On a GAAP basis, that charge combined with acquisition costs and purchase accounting adjustments turned the quarter into a net loss of $7 million, or $0.35 per diluted share, compared to net income of $5.5 million a year earlier. Operating expenses rose $23.1 million in the quarter, including $5.9 million in transaction costs tied to the acquisition.
#million #legacy
2 days ago
WASHINGTON (AP) — President Donald Trump has agreed to a significant portion of a stringent ethics proposal that is part of broader cryptocurrency legislation headed for a key vote this week, according to three of the bill's main Republican authors.
The sweeping bill initially had just a provision included that would bar all federally elected officials and their spouses, as well as federal judges, from issuing digital ***** ets.
A core group of Democrats, as well as Sen. Thom Tillis, R-N.C., said that didn't go far enough to address conflict-of-interest issues they had with Trump's crypto wealth. Their votes would be needed to advance the bill in a key vote this Tuesday.
Tillis and Sen. Ruben Gallego, D-Ariz., along with several other Democrats, had demanded language that would allow state attorneys general to step in and enforce the law in addition to the Justice Department.
In announcing Trump's agreement, Republican Sens. Cynthia Lummis of Wyoming, Tim Scott of South Carolina and John Boozman of Arkansas said it includes a "meaningful role" for state attorneys general to play in enforcing the crypto measure should it become law.
#republican #vote #well #Crypto
The sweeping bill initially had just a provision included that would bar all federally elected officials and their spouses, as well as federal judges, from issuing digital ***** ets.
A core group of Democrats, as well as Sen. Thom Tillis, R-N.C., said that didn't go far enough to address conflict-of-interest issues they had with Trump's crypto wealth. Their votes would be needed to advance the bill in a key vote this Tuesday.
Tillis and Sen. Ruben Gallego, D-Ariz., along with several other Democrats, had demanded language that would allow state attorneys general to step in and enforce the law in addition to the Justice Department.
In announcing Trump's agreement, Republican Sens. Cynthia Lummis of Wyoming, Tim Scott of South Carolina and John Boozman of Arkansas said it includes a "meaningful role" for state attorneys general to play in enforcing the crypto measure should it become law.
#republican #vote #well #Crypto
2 days ago
The Justice Department's push to pursue a sweeping conspiracy probe into former officials behind investigations targeting President Donald Trump has descended into turmoil and possibly new delays following the abrupt resignation of the top prosecutor overseeing the probe.
Joe diGenova, the Washington lawyer and former top prosecutor leading the South Florida-based investigation, resigned a day after a tense phone call Wednesday with Attorney General Todd Blanche, according to two people familiar with the matter. The final clash centered on diGenova's effort to block lawyers dispatched by Justice Department headquarters from ***** isting the probe, following broader disagreements with top Justice officials over its pace.
Among the disputes that added to tensions between diGenova and his bosses in Washington was diGenova's request for a high-security room known as a SCIF to be built at the Fort Pierce office, to make it easier for the prosecution team to store highly classified materials, two people familiar with the investigation told CNN. The team worked in an office with a special room where sensitive, but not the highest-classified, evidence could be handled. Justice Department officials told diGenova he and his team should use a SCIF at an FBI office miles away, two people familiar with the investigation told CNN.
DiGenova also pressed for more lawyers for his team. Justice officials pushed back on any claims that he was denied resources, according to two people familiar with the investigation.
For more than a year, Justice Department officials have pushed to bring criminal charges against former CIA director John Brennan, who is accused of making false statements to Congress and has been the subject of the president's ire for years. Since diGenova joined the probe in April, he's chosen to pursue a broader set of charges against several of Trump's political critics — including Brennan — who were involved in investigations of him over the past decade.
#officials #familiar #department
Joe diGenova, the Washington lawyer and former top prosecutor leading the South Florida-based investigation, resigned a day after a tense phone call Wednesday with Attorney General Todd Blanche, according to two people familiar with the matter. The final clash centered on diGenova's effort to block lawyers dispatched by Justice Department headquarters from ***** isting the probe, following broader disagreements with top Justice officials over its pace.
Among the disputes that added to tensions between diGenova and his bosses in Washington was diGenova's request for a high-security room known as a SCIF to be built at the Fort Pierce office, to make it easier for the prosecution team to store highly classified materials, two people familiar with the investigation told CNN. The team worked in an office with a special room where sensitive, but not the highest-classified, evidence could be handled. Justice Department officials told diGenova he and his team should use a SCIF at an FBI office miles away, two people familiar with the investigation told CNN.
DiGenova also pressed for more lawyers for his team. Justice officials pushed back on any claims that he was denied resources, according to two people familiar with the investigation.
For more than a year, Justice Department officials have pushed to bring criminal charges against former CIA director John Brennan, who is accused of making false statements to Congress and has been the subject of the president's ire for years. Since diGenova joined the probe in April, he's chosen to pursue a broader set of charges against several of Trump's political critics — including Brennan — who were involved in investigations of him over the past decade.
#officials #familiar #department
2 days ago
Vale S.A. (NYSE:VALE) is considering making its debut in China's domestic bond market as soon as this year, with CFO Marcelo Bacci saying the company is preparing for a potential Panda bond issuance. The move would be strategically significant because China accounts for roughly half of Vale's revenue, making renminbi financing a natural extension of its relationship with its largest market. Bloomberg reported that Vale is still ****** sing the market, including whether it can obtain a maturity longer than the typical two-, three-, or five-year terms available to international issuers.
The timing is also favorable for Vale because China's Panda bond market is expanding rapidly. Reuters reported that foreign issuers have increasingly turned to Asian bond markets to diversify funding sources, while Chinese yuan bond issuance has reached record levels in 2026. For Vale S.A. (NYSE:VALE), the potential transaction therefore looks less like a necessity for raising capital and more like an effort to diversify its investor base, potentially lower funding costs, and build a longer-term financing relationship with Chinese investors.
The strongest bullish argument is that Vale S.A. (NYSE:VALE) could potentially lower and diversify its cost of capital by accessing a large pool of Chinese investors at a time when renminbi funding remains relatively inexpensive. Reuters noted that Chinese onshore and offshore yuan bond markets have experienced record issuance this year, with foreign borrowers increasingly using these markets to diversify away from traditional funding currencies. If Vale can achieve competitive pricing, a Panda bond could provide an additional funding channel alongside its established dollar financing, reducing its dependence on a single market.
The move could also create a better natural match between Vale's revenues and its financing currency. Because China represents approximately half of Vale's revenue, raising at least some debt in renminbi could provide a degree of currency alignment with its Chinese business exposure. More importantly, establishing itself as a repeat issuer could strengthen Vale's relationships with Chinese banks and institutional investors, potentially giving it access to another source of capital when global dollar markets become less attractive.
There is also a broader strategic benefit. China is actively expanding the Panda bond market and encouraging international companies to use it. Official Chinese data showed that more than 160 billion yuan of Panda bonds were issued during the first half of 2026, up 69% year over year, demonstrating that the market is becoming more established and liquid. Vale entering this market could therefore position the company early in a growing financing ecosystem rather than waiting until it becomes more crowded.
#chinese #bond #panda #China
The timing is also favorable for Vale because China's Panda bond market is expanding rapidly. Reuters reported that foreign issuers have increasingly turned to Asian bond markets to diversify funding sources, while Chinese yuan bond issuance has reached record levels in 2026. For Vale S.A. (NYSE:VALE), the potential transaction therefore looks less like a necessity for raising capital and more like an effort to diversify its investor base, potentially lower funding costs, and build a longer-term financing relationship with Chinese investors.
The strongest bullish argument is that Vale S.A. (NYSE:VALE) could potentially lower and diversify its cost of capital by accessing a large pool of Chinese investors at a time when renminbi funding remains relatively inexpensive. Reuters noted that Chinese onshore and offshore yuan bond markets have experienced record issuance this year, with foreign borrowers increasingly using these markets to diversify away from traditional funding currencies. If Vale can achieve competitive pricing, a Panda bond could provide an additional funding channel alongside its established dollar financing, reducing its dependence on a single market.
The move could also create a better natural match between Vale's revenues and its financing currency. Because China represents approximately half of Vale's revenue, raising at least some debt in renminbi could provide a degree of currency alignment with its Chinese business exposure. More importantly, establishing itself as a repeat issuer could strengthen Vale's relationships with Chinese banks and institutional investors, potentially giving it access to another source of capital when global dollar markets become less attractive.
There is also a broader strategic benefit. China is actively expanding the Panda bond market and encouraging international companies to use it. Official Chinese data showed that more than 160 billion yuan of Panda bonds were issued during the first half of 2026, up 69% year over year, demonstrating that the market is becoming more established and liquid. Vale entering this market could therefore position the company early in a growing financing ecosystem rather than waiting until it becomes more crowded.
#chinese #bond #panda #China
2 days ago
Walmart Inc. (NASDAQ:WMT) is expanding its restaurant-delivery business through a partnership with Papa John's, allowing customers in select U.S. markets to order pizzas, sides, and desserts through Walmart's app and website. The service is expected to launch this fall before expanding to thousands of participating Papa John's locations nationwide. Customers will be able to order restaurant food either separately or alongside Walmart groceries and household products, with Walmart's delivery network handling fulfillment.
The move builds on Walmart's broader push into fast delivery. The company recently reported that U.S. e-commerce sales increased 24% in its latest quarter, while fast-delivery services for groceries and general merchandise grew 48%. Walmart also said 30-minute-or-less delivery was available in 38 U.S. markets, highlighting the infrastructure it can potentially leverage for restaurant orders.
The Papa John's partnership could strengthen Walmart Inc. (NASDAQ:WMT)'s position as a broader consumer-delivery platform rather than simply a retailer. Adding restaurant meals gives shoppers another reason to open Walmart's app, while the ability to combine a pizza order with groceries and household products creates an opportunity to increase basket sizes and order frequency. This is particularly attractive because Walmart already has a large store network that increasingly functions as a last-mile fulfillment system; roughly 80% of its e-commerce orders are fulfilled from stores.
The deal could also improve the economics of Walmart's existing delivery infrastructure. Instead of building a completely separate restaurant-delivery network, Walmart can utilize its established fulfillment capabilities and Spark driver network to serve incremental demand. The Papa John's relationship also expands Walmart's restaurant offering beyond earlier partnerships, helping the company build a more comprehensive alternative to dedicated delivery platforms such as DoorDash and Uber Eats.
More importantly, restaurant delivery could become another engagement tool for Walmart Inc. (NASDAQ:WMT)'s increasingly digital customer base. With e-commerce approaching a quarter of Walmart's overall sales and growing substantially faster than traditional store sales, initiatives that increase digital traffic could support Walmart's broader ecosystem of e-commerce, memberships and advertising.
#walmart #network #fulfillment
The move builds on Walmart's broader push into fast delivery. The company recently reported that U.S. e-commerce sales increased 24% in its latest quarter, while fast-delivery services for groceries and general merchandise grew 48%. Walmart also said 30-minute-or-less delivery was available in 38 U.S. markets, highlighting the infrastructure it can potentially leverage for restaurant orders.
The Papa John's partnership could strengthen Walmart Inc. (NASDAQ:WMT)'s position as a broader consumer-delivery platform rather than simply a retailer. Adding restaurant meals gives shoppers another reason to open Walmart's app, while the ability to combine a pizza order with groceries and household products creates an opportunity to increase basket sizes and order frequency. This is particularly attractive because Walmart already has a large store network that increasingly functions as a last-mile fulfillment system; roughly 80% of its e-commerce orders are fulfilled from stores.
The deal could also improve the economics of Walmart's existing delivery infrastructure. Instead of building a completely separate restaurant-delivery network, Walmart can utilize its established fulfillment capabilities and Spark driver network to serve incremental demand. The Papa John's relationship also expands Walmart's restaurant offering beyond earlier partnerships, helping the company build a more comprehensive alternative to dedicated delivery platforms such as DoorDash and Uber Eats.
More importantly, restaurant delivery could become another engagement tool for Walmart Inc. (NASDAQ:WMT)'s increasingly digital customer base. With e-commerce approaching a quarter of Walmart's overall sales and growing substantially faster than traditional store sales, initiatives that increase digital traffic could support Walmart's broader ecosystem of e-commerce, memberships and advertising.
#walmart #network #fulfillment
2 days ago
Coinbase jumped 6% on a Compass Point upgrade to Neutral, while MARA slid 2% after JPMorgan cut it to Underweight with an $11 target.
IBIT rose 1% as Bitcoin lifted crypto stocks, while SPY fell 0.8%, splitting crypto-linked equities from the broader AI-led tech selloff.
The Senate's CLARITY Act vote this week is the binary catalyst for Coinbase, though ****** yst Ed Engel expects the bill to fail.
Just released. Our ****** ysts combed the entire stock market and named the ten best stocks to buy right now, and Coinbase didn't make the cut. Enter your email to see the names that beat COIN. The report is free. Enter your email and see if any of your stocks made the cut.
Coinbase Global (NASDAQ:COIN) shares are up 6% to $185.34 Monday morning after Compass Point ****** yst Ed Engel upgraded the exchange operator to Neutral from Sell ahead of a scheduled Senate floor vote on crypto market-structure legislation. The bounce for Coinbase stock trims an 18% year-to-date decline that had made the exchange one of the sector's most bruised names heading into this week.
#Coinbase #engel #vote
IBIT rose 1% as Bitcoin lifted crypto stocks, while SPY fell 0.8%, splitting crypto-linked equities from the broader AI-led tech selloff.
The Senate's CLARITY Act vote this week is the binary catalyst for Coinbase, though ****** yst Ed Engel expects the bill to fail.
Just released. Our ****** ysts combed the entire stock market and named the ten best stocks to buy right now, and Coinbase didn't make the cut. Enter your email to see the names that beat COIN. The report is free. Enter your email and see if any of your stocks made the cut.
Coinbase Global (NASDAQ:COIN) shares are up 6% to $185.34 Monday morning after Compass Point ****** yst Ed Engel upgraded the exchange operator to Neutral from Sell ahead of a scheduled Senate floor vote on crypto market-structure legislation. The bounce for Coinbase stock trims an 18% year-to-date decline that had made the exchange one of the sector's most bruised names heading into this week.
#Coinbase #engel #vote
2 days ago
Marriott International, Inc. (NASDAQ:MAR)'s Middle East business showed a meaningful improvement in July, with revenue per available room (RevPAR) declining 12% year over year, a sharp improvement from the 43% decline in the second quarter. The improvement came despite continued regional conflict, suggesting that demand is proving more resilient than initially feared. More importantly, Marriott's global business remains strong: global room revenue increased 7% in July, with the U.S. and Canada up 8%.
However, the Middle East remains a risk to Marriott International, Inc. (NASDAQ:MAR)'s growth strategy. The region represents only about 3% of Marriott's global fees but 6% of its development pipeline, meaning prolonged conflict can have an outsized impact on future hotel openings. Supply-chain disruptions and restricted capital flows have already delayed projects, pushing Marriott toward the lower end of its full-year net unit growth target.
The biggest positive is that the Middle East headwind appears to be easing faster than expected. Moving from a 43% RevPAR decline in the second quarter to just 12% in July suggests travel demand can recover even as geopolitical risks remain elevated. If the conflict stabilizes, Marriott International, Inc. (NASDAQ:MAR) could see a relatively quick rebound in regional occupancy and room rates.
More importantly, the Middle East is not large enough to overwhelm Marriott's broader global performance. The company generated a 7% increase in global room revenue in July, while U.S. and Canadian room revenue rose 8%. RevPAR growth was also broad-based across luxury, premium/select and mid-scale brands, suggesting that Marriott's strength is not dependent solely on wealthy travelers.
Marriott also benefits from an ***** et-light, fee-driven model, meaning stronger hotel demand can translate into attractive cash generation without requiring the company to own most of the underlying properties. Barron's has highlighted the resilience of this model, alongside the strength of Marriott Bonvoy and additional growth opportunities from its credit-card partnerships.
#marriott #middle #room
However, the Middle East remains a risk to Marriott International, Inc. (NASDAQ:MAR)'s growth strategy. The region represents only about 3% of Marriott's global fees but 6% of its development pipeline, meaning prolonged conflict can have an outsized impact on future hotel openings. Supply-chain disruptions and restricted capital flows have already delayed projects, pushing Marriott toward the lower end of its full-year net unit growth target.
The biggest positive is that the Middle East headwind appears to be easing faster than expected. Moving from a 43% RevPAR decline in the second quarter to just 12% in July suggests travel demand can recover even as geopolitical risks remain elevated. If the conflict stabilizes, Marriott International, Inc. (NASDAQ:MAR) could see a relatively quick rebound in regional occupancy and room rates.
More importantly, the Middle East is not large enough to overwhelm Marriott's broader global performance. The company generated a 7% increase in global room revenue in July, while U.S. and Canadian room revenue rose 8%. RevPAR growth was also broad-based across luxury, premium/select and mid-scale brands, suggesting that Marriott's strength is not dependent solely on wealthy travelers.
Marriott also benefits from an ***** et-light, fee-driven model, meaning stronger hotel demand can translate into attractive cash generation without requiring the company to own most of the underlying properties. Barron's has highlighted the resilience of this model, alongside the strength of Marriott Bonvoy and additional growth opportunities from its credit-card partnerships.
#marriott #middle #room
2 days ago
Enbridge Inc. (NYSE:ENB) has agreed to buy Blackstone-owned Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its presence in the U.S. liquids pipeline market. The deal includes a 75% stake in the 1,050-mile Pony Express Pipeline, a 51% interest in the Powder River Gateway system, around 8.4 million barrels of storage capacity and crude marketing operations.
Pony Express can move roughly 460,000 barrels of crude per day between the Rockies and the Cushing, Oklahoma, hub. The deal also gives Enbridge greater exposure to major producing regions, including the Bakken, Powder River and Denver-Julesburg basins.
The acquisition gives Enbridge Inc. (NYSE:ENB) a stronger position in U.S. crude transportation at a time when domestic oil production is expected to remain important. Pony Express gives the company a larger presence in the Rockies and complements its existing Express-Platte system.
That combination could allow Enbridge to bring the operations together more efficiently and find synergies across its wider liquids network. The deal also gives Enbridge more than additional pipeline capacity. It adds storage infrastructure and crude marketing operations, giving the company more flexibility in how it manages and optimizes volumes. Bringing these parts of the business together could also improve the economics of the acquired **** ets.
Enbridge Inc. (NYSE:ENB) expects the **** ets to generate significant free cash flow. The company also says the transaction should add to distributable cash flow per share in the first full year after closing. The **** ets also offer relatively predictable infrastructure-style cash flows. This means Enbridge does not need higher crude prices to benefit from the acquisition. The deal fits with the company's broader strategy of growing its fee-based energy infrastructure business across North America, backed by its C$41 billion secured growth backlog.
#enbridge #cash #gives #business
Pony Express can move roughly 460,000 barrels of crude per day between the Rockies and the Cushing, Oklahoma, hub. The deal also gives Enbridge greater exposure to major producing regions, including the Bakken, Powder River and Denver-Julesburg basins.
The acquisition gives Enbridge Inc. (NYSE:ENB) a stronger position in U.S. crude transportation at a time when domestic oil production is expected to remain important. Pony Express gives the company a larger presence in the Rockies and complements its existing Express-Platte system.
That combination could allow Enbridge to bring the operations together more efficiently and find synergies across its wider liquids network. The deal also gives Enbridge more than additional pipeline capacity. It adds storage infrastructure and crude marketing operations, giving the company more flexibility in how it manages and optimizes volumes. Bringing these parts of the business together could also improve the economics of the acquired **** ets.
Enbridge Inc. (NYSE:ENB) expects the **** ets to generate significant free cash flow. The company also says the transaction should add to distributable cash flow per share in the first full year after closing. The **** ets also offer relatively predictable infrastructure-style cash flows. This means Enbridge does not need higher crude prices to benefit from the acquisition. The deal fits with the company's broader strategy of growing its fee-based energy infrastructure business across North America, backed by its C$41 billion secured growth backlog.
#enbridge #cash #gives #business
2 days ago
HSBC Holdings plc (NYSE:HSBC) is winding down its transaction services business in Germany, with more than 300 positions at HSBC Transaction Services GmbH and HSBC Service Company Germany GmbH expected to be phased out by 2028. The division provides securities processing, administration and custody services.
HSBC said the move is part of its broader strategy to strengthen its position in businesses where it has competitive advantages and sees stronger growth opportunities. The decision follows HSBC Germany's sale of its private banking business to BNP Paribas last year, highlighting the bank's continued effort to streamline its European operations.
Northfoto/Shutterstock.com
The biggest positive for HSBC Holdings plc (NYSE:HSBC) is that the German exit could improve the bank's efficiency and profitability over time. Rather than continuing to allocate capital and employees to a transaction-services operation that HSBC apparently sees as less strategically attractive, the bank can redirect resources toward areas where it has stronger competitive advantages. This fits CEO Georges Elhedery's broader restructuring strategy of reducing complexity, cutting costs and concentrating HSBC on businesses with better growth prospects. Reuters has reported that HSBC has already been selling non-core operations as part of this transformation, while its shares have risen substantially since the restructuring began.
The timing could also be constructive. Germany's economy remains under pressure, with industrial production falling unexpectedly in July and manufacturing activity still facing significant challenges. Reducing exposure to a business tied to the German market could therefore protect HSBC Holdings plc (NYSE:HSBC) from maintaining costs in an environment where growth is relatively weak.
#german
HSBC said the move is part of its broader strategy to strengthen its position in businesses where it has competitive advantages and sees stronger growth opportunities. The decision follows HSBC Germany's sale of its private banking business to BNP Paribas last year, highlighting the bank's continued effort to streamline its European operations.
Northfoto/Shutterstock.com
The biggest positive for HSBC Holdings plc (NYSE:HSBC) is that the German exit could improve the bank's efficiency and profitability over time. Rather than continuing to allocate capital and employees to a transaction-services operation that HSBC apparently sees as less strategically attractive, the bank can redirect resources toward areas where it has stronger competitive advantages. This fits CEO Georges Elhedery's broader restructuring strategy of reducing complexity, cutting costs and concentrating HSBC on businesses with better growth prospects. Reuters has reported that HSBC has already been selling non-core operations as part of this transformation, while its shares have risen substantially since the restructuring began.
The timing could also be constructive. Germany's economy remains under pressure, with industrial production falling unexpectedly in July and manufacturing activity still facing significant challenges. Reducing exposure to a business tied to the German market could therefore protect HSBC Holdings plc (NYSE:HSBC) from maintaining costs in an environment where growth is relatively weak.
#german
2 days ago
General Motors is developing a domestic battery supply chain it expects to complete within two to three years, even as the company currently relies on some Chinese-sourced materials for its existing battery production.
Kurt Kelty, GM's vice president of battery and sustainability, told CNBC that the company's near-term goal is full domestic sourcing. "We're developing a supply chain such that, two years from now, three years from now, it will be domestic," Kelty said. "That's what we're aiming for — when we get into market, we've got a domestic source for that."
Kelty's comments center on sodium-ion battery cells that GM is developing with Denver-based startup Peak Energy for use in stationary energy storage systems for homes, businesses, and data centers. GM expects to reach commercial production of those cells around 2029, according to CNBC. A GM spokesperson confirmed to CNBC that the company would apply the same domestic sourcing priority to battery cells for future electric vehicles.
Unlike conventional lithium iron phosphate chemistry, sodium-ion cells are built around sodium from soda ash — a resource the U.S. holds in abundance — sidestepping the lithium and ferrous sulfate supply chains that China currently controls. Kelty added that sodium-ion cells handle a broader span of temperatures, which means they can function without the active thermal management that drives up the cost and complexity of stationary storage installations.
"The better thing to do is try to leapfrog, come up with a different technology that's actually better that we can actually source here," Kelty told CNBC.
#battery #supply #years #we 're
Kurt Kelty, GM's vice president of battery and sustainability, told CNBC that the company's near-term goal is full domestic sourcing. "We're developing a supply chain such that, two years from now, three years from now, it will be domestic," Kelty said. "That's what we're aiming for — when we get into market, we've got a domestic source for that."
Kelty's comments center on sodium-ion battery cells that GM is developing with Denver-based startup Peak Energy for use in stationary energy storage systems for homes, businesses, and data centers. GM expects to reach commercial production of those cells around 2029, according to CNBC. A GM spokesperson confirmed to CNBC that the company would apply the same domestic sourcing priority to battery cells for future electric vehicles.
Unlike conventional lithium iron phosphate chemistry, sodium-ion cells are built around sodium from soda ash — a resource the U.S. holds in abundance — sidestepping the lithium and ferrous sulfate supply chains that China currently controls. Kelty added that sodium-ion cells handle a broader span of temperatures, which means they can function without the active thermal management that drives up the cost and complexity of stationary storage installations.
"The better thing to do is try to leapfrog, come up with a different technology that's actually better that we can actually source here," Kelty told CNBC.
#battery #supply #years #we 're
4 days ago
Extreme weather is creating a more demanding environment for property owners, insurers, and communities. According to the National Centers for Environmental Information (NCEI), the United States recorded 27 confirmed billion-dollar weather and climate disasters in 2024, resulting in a total cost of $182.7 billion. These events spanned a wide range of extremes, including severe storm events, tropical cyclones, wildfires, drought/heat waves, and winter storm/cold wave events. Over the last decade, ***** ulative losses from these disasters have exceeded $1.4 trillion, driven significantly by population growth, material wealth, and increased development in hazard-prone areas. These figures suggest that the financial consequences of extreme events may increasingly depend on how accurately the value of exposed property is understood before a loss occurs.
That question becomes especially consequential during reconstruction. A 2026 report from Bloomberg, featured in Claims Journal, noted that surveys conducted by United Policyholders since 2007 found an average of two-thirds of wildfire survivors reporting that they were underinsured, with an average shortfall of $200,000 or more. The Insurance Information Institute has similarly estimated that two-thirds of American homeowners may be underinsured for wildfire losses, typically by about 20%, and in some cases by as much as 60%. These findings illustrate how the presence of an insurance policy can still leave a substantial difference between available coverage and the resources required to rebuild, particularly when construction costs rise after a catastrophe.
The financial implications can extend across the broader insurance ecosystem. Aon's 2026 Climate and Catastrophe Insight reported approximately $260 billion in global economic losses from natural catastrophes during 2025, compared with $127 billion in insured losses. For property stakeholders, such a figure may place greater attention on the relationship between the value ***** igned to an ***** et, the cost of restoring it, and the capital available when a loss occurs.
Frequency can add another layer to that calculation. Data from NCEI indicate that the average interval between U.S. billion-dollar disaster events was approximately 16 days during 2020–2024, compared with 82 days during the 1980s. NCEI notes that shorter intervals can leave less time and fewer resources for response, recovery, and preparation for subsequent events. As the time between major events contracts, property valuations may require more frequent attention because construction costs, labor conditions, materials, and local economic circumstances can change between policy reviews.
#property #losses #insurance #information
That question becomes especially consequential during reconstruction. A 2026 report from Bloomberg, featured in Claims Journal, noted that surveys conducted by United Policyholders since 2007 found an average of two-thirds of wildfire survivors reporting that they were underinsured, with an average shortfall of $200,000 or more. The Insurance Information Institute has similarly estimated that two-thirds of American homeowners may be underinsured for wildfire losses, typically by about 20%, and in some cases by as much as 60%. These findings illustrate how the presence of an insurance policy can still leave a substantial difference between available coverage and the resources required to rebuild, particularly when construction costs rise after a catastrophe.
The financial implications can extend across the broader insurance ecosystem. Aon's 2026 Climate and Catastrophe Insight reported approximately $260 billion in global economic losses from natural catastrophes during 2025, compared with $127 billion in insured losses. For property stakeholders, such a figure may place greater attention on the relationship between the value ***** igned to an ***** et, the cost of restoring it, and the capital available when a loss occurs.
Frequency can add another layer to that calculation. Data from NCEI indicate that the average interval between U.S. billion-dollar disaster events was approximately 16 days during 2020–2024, compared with 82 days during the 1980s. NCEI notes that shorter intervals can leave less time and fewer resources for response, recovery, and preparation for subsequent events. As the time between major events contracts, property valuations may require more frequent attention because construction costs, labor conditions, materials, and local economic circumstances can change between policy reviews.
#property #losses #insurance #information
4 days ago
Investors seeking exposure to artificial intelligence infrastructure must weigh the explosive growth of Astera Labs Inc (NASDAQ:ALAB) against the established scale and diverse portfolio of Marvell Technology Inc(NASDAQ:MRVL) to determine the better buy.
Both companies focus on the plumbing of the digital world, ensuring data moves quickly between processors and memory. While Astera Labs focuses on specialized connectivity for AI racks, Marvell offers a broader range of networking, storage, and custom compute solutions. This comparison explores which strategy offers more potential for long-term investors.
Astera Labs designs connectivity solutions that integrate various protocols to support rack-scale AI infrastructure, a high-growth niche among semiconductor stocks. The company serves major hyperscalers and equipment manufacturers who need to overcome data bottlenecks in massive data centers, though its revenue is highly concentrated. In 2025, one end customer -- Amazon.com Inc (NASDAQ:AMZN) -- accounted for over 70% of revenue, which adds a significant layer of risk to the business model.
According to its latest annual report, filed for the fiscal year ended Dec. 31, 2025, revenue reached close to $853 million, representing a significant jump of 115% compared with the prior fiscal year. This growth trajectory helped the company transition to a net income of just over $219 million after recording losses in the previous two years. The net margin for the latest year was close to 26%.
As of its December 2025 balance sheet, the debt-to-equity ratio was 0.0x, meaning the company carries no debt relative to its shareholder equity, while the so-called current ratio was 10.2x. Free cash flow for the period reached nearly $282 million. Note that stock-based compensation (SBC) represented roughly 50.1% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
#company #million
Both companies focus on the plumbing of the digital world, ensuring data moves quickly between processors and memory. While Astera Labs focuses on specialized connectivity for AI racks, Marvell offers a broader range of networking, storage, and custom compute solutions. This comparison explores which strategy offers more potential for long-term investors.
Astera Labs designs connectivity solutions that integrate various protocols to support rack-scale AI infrastructure, a high-growth niche among semiconductor stocks. The company serves major hyperscalers and equipment manufacturers who need to overcome data bottlenecks in massive data centers, though its revenue is highly concentrated. In 2025, one end customer -- Amazon.com Inc (NASDAQ:AMZN) -- accounted for over 70% of revenue, which adds a significant layer of risk to the business model.
According to its latest annual report, filed for the fiscal year ended Dec. 31, 2025, revenue reached close to $853 million, representing a significant jump of 115% compared with the prior fiscal year. This growth trajectory helped the company transition to a net income of just over $219 million after recording losses in the previous two years. The net margin for the latest year was close to 26%.
As of its December 2025 balance sheet, the debt-to-equity ratio was 0.0x, meaning the company carries no debt relative to its shareholder equity, while the so-called current ratio was 10.2x. Free cash flow for the period reached nearly $282 million. Note that stock-based compensation (SBC) represented roughly 50.1% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
#company #million
4 days ago
Block, Inc. (NYSE:XYZ) is taking another step toward consolidating its digital **** et operations under a federal regulatory framework. On September 8, it filed an application with the Office of the Comptroller of the Currency (OCC) to charter Builders Bank & Trust, N.A.
If chartered, the Builders Bank & Trust could become an important part of Block's digital **** et custody infrastructure, giving the company a federally supervised framework for custody and related services involving bitcoin and stablecoins.
Builders Bank & Trust would be an uninsured national trust bank, meaning it would not accept deposits or make traditional loans. Instead, its focus would be on fiduciary and custody services, allowing Block to build specialized infrastructure for safeguarding digital **** ets.
The structure could be particularly valuable as Block, Inc. (NYSE:XYZ) seeks to expand its institutional customer base. A federally supervised custody operation could give larger financial institutions greater confidence in Block's ability to safeguard Bitcoin and other digital **** ets.
Stablecoins represent a potentially important opportunity for Block, particularly through its Cash App ecosystem. A regulated custody infrastructure could eventually support broader stablecoin-related products and payments if Block chooses to expand further in this area.
#Bitcoin
If chartered, the Builders Bank & Trust could become an important part of Block's digital **** et custody infrastructure, giving the company a federally supervised framework for custody and related services involving bitcoin and stablecoins.
Builders Bank & Trust would be an uninsured national trust bank, meaning it would not accept deposits or make traditional loans. Instead, its focus would be on fiduciary and custody services, allowing Block to build specialized infrastructure for safeguarding digital **** ets.
The structure could be particularly valuable as Block, Inc. (NYSE:XYZ) seeks to expand its institutional customer base. A federally supervised custody operation could give larger financial institutions greater confidence in Block's ability to safeguard Bitcoin and other digital **** ets.
Stablecoins represent a potentially important opportunity for Block, particularly through its Cash App ecosystem. A regulated custody infrastructure could eventually support broader stablecoin-related products and payments if Block chooses to expand further in this area.
#Bitcoin
4 days ago
A Bahamian national who arrived in the U.S. during President Gerald Ford's administration and was living with a green card racked up a violent rap sheet before investigators found he voted illegally in the 2020 election, sparking the deportation process, officials say.
The case of Anthony Tyrone Higgs is only the latest in a slew of arrests connected to illegal votes cast in recent elections, as the Trump administration engages in a broader crackdown on election integrity-related crimes.
"This alien was a guest in our country who forfeited his right to be in the U.S. when he committed these violent crimes and voted in the 2020 election," White House spokeswoman Lauren Bis exclusively told Fox News Digital on Friday.
Ice Arrests Peruvian National Accused Of Illegally Voting In 2024 Election As Dhs Cites Similar Cases
ICE agents **** emble in Minnesota, left; Anthony Tyrone Higgs, inset right.
#national
The case of Anthony Tyrone Higgs is only the latest in a slew of arrests connected to illegal votes cast in recent elections, as the Trump administration engages in a broader crackdown on election integrity-related crimes.
"This alien was a guest in our country who forfeited his right to be in the U.S. when he committed these violent crimes and voted in the 2020 election," White House spokeswoman Lauren Bis exclusively told Fox News Digital on Friday.
Ice Arrests Peruvian National Accused Of Illegally Voting In 2024 Election As Dhs Cites Similar Cases
ICE agents **** emble in Minnesota, left; Anthony Tyrone Higgs, inset right.
#national
