22 hours ago
(NEXSTAR) – The days getting shorter serve as a reminder that we’re barreling toward the end of our seasonal observation of daylight saving time, but the wheels may be in motion to stop that – a move more than a dozen states have been waiting to happen.
Earlier this year, the House passed the Sunshine Protection Act, which would make daylight saving time permanent throughout the U.S., with few exceptions. It’s been held up in the Senate since July but, now that the chamber has returned from recess, there’s a chance the legislation could be picked up.
If it can pass the Senate, the bill seems to stand a fair chance of becoming law, with President Trump already expressing support.
For more than a dozen states, this is the closest they’ve been in years to seeing some of their own legislation finally take effect. The U.S. hasn’t been this close to permanent daylight saving time since a version of the Sunshine Protection Act passed in the Senate in 2022 but fizzled in the House.
At present, states are only allowed to opt into year-round permanent standard time, as Hawaii and much of Arizona have done. But that hasn’t stopped 19 states from enacting legislation that would make daylight saving time permanent in their jurisdiction, pending approval from Congress.
#House
Earlier this year, the House passed the Sunshine Protection Act, which would make daylight saving time permanent throughout the U.S., with few exceptions. It’s been held up in the Senate since July but, now that the chamber has returned from recess, there’s a chance the legislation could be picked up.
If it can pass the Senate, the bill seems to stand a fair chance of becoming law, with President Trump already expressing support.
For more than a dozen states, this is the closest they’ve been in years to seeing some of their own legislation finally take effect. The U.S. hasn’t been this close to permanent daylight saving time since a version of the Sunshine Protection Act passed in the Senate in 2022 but fizzled in the House.
At present, states are only allowed to opt into year-round permanent standard time, as Hawaii and much of Arizona have done. But that hasn’t stopped 19 states from enacting legislation that would make daylight saving time permanent in their jurisdiction, pending approval from Congress.
#House
2 days ago
On September 15, Arthur J. Gallagher & Co. (NYSE:AJG) announced that it had bought McMillan Insurance & Bonding Inc., an Englewood, Colorado, firm that operates as Innovise Business Consultants. Gallagher did not say what it paid. On its own, the deal is a footnote. But it is one of many, and the way those deals show up in earnings is where the debate over this stock really lives.
On July 30, Gallagher reported results for the quarter ended June 30, and the top line was hard to argue with. Revenue from its combined Brokerage and Risk Management businesses grew 24%, and organic growth, which leaves out acquisitions, was 6%. That second number shows clients are staying and spending. It was not confined to one corner, either, since organic fees in the risk management arm rose 12%. Management adds that retention is strong and customers want broader help from the platform. Adjusted earnings per share climbed to $2.84 from $2.30, which means growth is reaching profit once one-time acquisition costs are set aside.
Innovise fits the pattern. It sells surety bonds and commercial insurance brokerage with a focus on manufacturing, energy, construction and real estate, and Chairman and CEO J. Patrick Gallagher, Jr. said that niche expertise adds depth in Colorado. Jason McMillan's team will move into Gallagher's Denver office and work under Bret VanderVoort, who oversees retail property/casualty brokerage for the Western Zone. Buying specialists and folding them into existing offices is a repeatable playbook, and Gallagher closed 14 brokerage acquisitions in the first six months of 2026.
Now look at reported earnings, because that is where you see the cost. Diluted earnings per share fell to $1.25, from $1.40 in the second quarter of 2025, even though revenue jumped. Much of the gap between reported and adjusted results is the price of buying growth. Amortization of acquired intangibles alone weighs on brokerage net earnings by $218 million, up from $130 million a year ago, and integration costs rose as well. Adjusted figures set those aside, but they are real expenses, and they keep landing as long as Gallagher keeps buying.
Margins tell a similar story. The brokerage segment's adjusted EBITDAC margin, a stand-in for operating profit, slipped to 33.3% from 36.1%. Gallagher points to last year's interest income on cash raised for the ***** uredPartners deal, which closed in the third quarter of 2025, plus seasonality and newly added tuck-ins. That is a fair explanation. But the debt behind the deal is still here, including $9.55 billion of public debt, plus more in private placements and on a credit line. And the deal flow is thinner: brokerage acquisitions closed in the first six months of 2026 carried $107 million of annualized revenue, versus $354 million a year earlier, which puts more weight on organic growth.
#Growth
On July 30, Gallagher reported results for the quarter ended June 30, and the top line was hard to argue with. Revenue from its combined Brokerage and Risk Management businesses grew 24%, and organic growth, which leaves out acquisitions, was 6%. That second number shows clients are staying and spending. It was not confined to one corner, either, since organic fees in the risk management arm rose 12%. Management adds that retention is strong and customers want broader help from the platform. Adjusted earnings per share climbed to $2.84 from $2.30, which means growth is reaching profit once one-time acquisition costs are set aside.
Innovise fits the pattern. It sells surety bonds and commercial insurance brokerage with a focus on manufacturing, energy, construction and real estate, and Chairman and CEO J. Patrick Gallagher, Jr. said that niche expertise adds depth in Colorado. Jason McMillan's team will move into Gallagher's Denver office and work under Bret VanderVoort, who oversees retail property/casualty brokerage for the Western Zone. Buying specialists and folding them into existing offices is a repeatable playbook, and Gallagher closed 14 brokerage acquisitions in the first six months of 2026.
Now look at reported earnings, because that is where you see the cost. Diluted earnings per share fell to $1.25, from $1.40 in the second quarter of 2025, even though revenue jumped. Much of the gap between reported and adjusted results is the price of buying growth. Amortization of acquired intangibles alone weighs on brokerage net earnings by $218 million, up from $130 million a year ago, and integration costs rose as well. Adjusted figures set those aside, but they are real expenses, and they keep landing as long as Gallagher keeps buying.
Margins tell a similar story. The brokerage segment's adjusted EBITDAC margin, a stand-in for operating profit, slipped to 33.3% from 36.1%. Gallagher points to last year's interest income on cash raised for the ***** uredPartners deal, which closed in the third quarter of 2025, plus seasonality and newly added tuck-ins. That is a fair explanation. But the debt behind the deal is still here, including $9.55 billion of public debt, plus more in private placements and on a credit line. And the deal flow is thinner: brokerage acquisitions closed in the first six months of 2026 carried $107 million of annualized revenue, versus $354 million a year earlier, which puts more weight on organic growth.
#Growth
3 days ago
Shoulder-season travel is giving some hotels opportunities to trade for longer and reduce their dependence on peak months. But additional demand only changes the investment proposition if those extra trading periods generate durable profit and improve the quality of annual cash flow.
Across parts of Europe, tourism demand is becoming less concentrated in traditional peak periods.
The shift should not be overstated. July and August still accounted for 31.1% of all EU tourist-accommodation nights in 2025, according to Eurostat. In highly seasonal markets, the concentration was much greater: 54.5% of Croatia's annual nights and 41.6% of Greece's occurred during those two months.
But demand is moving at the margins. The European Travel Commission reported stronger autumn demand in several markets in late 2025. In Hungary, for example, growth in international arrivals and nights during autumn exceeded summer growth.
For hotel investors, however, a longer potential travel season is only the starting point.
#season
Across parts of Europe, tourism demand is becoming less concentrated in traditional peak periods.
The shift should not be overstated. July and August still accounted for 31.1% of all EU tourist-accommodation nights in 2025, according to Eurostat. In highly seasonal markets, the concentration was much greater: 54.5% of Croatia's annual nights and 41.6% of Greece's occurred during those two months.
But demand is moving at the margins. The European Travel Commission reported stronger autumn demand in several markets in late 2025. In Hungary, for example, growth in international arrivals and nights during autumn exceeded summer growth.
For hotel investors, however, a longer potential travel season is only the starting point.
#season
3 days ago
Interested in Capital One Financial Corporation? Here are five stocks we like better.
Consumer credit remains resilient: Capital One reported strong spending, stable delinquencies and better-than-seasonal charge-offs, including among lower-income customers in its portfolio. Auto lending is also growing while the company maintains underwriting and margin standards.
Discover integration is progressing toward 2027 completion: New Discover card originations have moved to Capital One's platform, with the existing portfolio conversion expected to finish in January 2027 and broader integration substantially complete by mid-2027. Capital One has achieved about one-third of its targeted $1.5 billion in operating-expense synergies.
Capital One is expanding beyond lending: The company sees Brex as a strategic commercial-payments platform and plans to leverage its technology, marketing reach and small-business customer base. With a 13.7% common equity tier 1 ratio, management says it can fund investments while maintaining conservative capital and shareholder returns.
These 4 Earnings Reports Expose the Market's Growing Economic Divide
#company #integration #interested
Consumer credit remains resilient: Capital One reported strong spending, stable delinquencies and better-than-seasonal charge-offs, including among lower-income customers in its portfolio. Auto lending is also growing while the company maintains underwriting and margin standards.
Discover integration is progressing toward 2027 completion: New Discover card originations have moved to Capital One's platform, with the existing portfolio conversion expected to finish in January 2027 and broader integration substantially complete by mid-2027. Capital One has achieved about one-third of its targeted $1.5 billion in operating-expense synergies.
Capital One is expanding beyond lending: The company sees Brex as a strategic commercial-payments platform and plans to leverage its technology, marketing reach and small-business customer base. With a 13.7% common equity tier 1 ratio, management says it can fund investments while maintaining conservative capital and shareholder returns.
These 4 Earnings Reports Expose the Market's Growing Economic Divide
#company #integration #interested
3 days ago
Sept 17 (Reuters) - JP Morgan said on Thursday that it does not have a clear baseline view for oil markets for the first time since the start of the US-Israeli war on Iran.
"We simply don't know how to model the endgame," ***** ysts at the bank noted.
The note flagged that at the beginning of the conflict, JP Morgan had ***** umed there were some economic thresholds that the U.S. administration would not cross, but six months into the conflict, many of those lines have been crossed with no clear exit strategy in view.
The bank noted that oil prices have climbed above $100 a barrel with gasoline at $4.37 a gallon. It also noted that US diesel prices have hit an all-time high of $6.31 a gallon heading into winter, the period of peak seasonal demand, while inventories sit at all-time lows.
JP Morgan estimated Brent's fair value at around $90 a barrel for September, compared with current prices near $106, suggesting markets are pricing in the risk of further supply losses beyond the estimated 10 million barrels per day already disrupted.
#noted #markets
"We simply don't know how to model the endgame," ***** ysts at the bank noted.
The note flagged that at the beginning of the conflict, JP Morgan had ***** umed there were some economic thresholds that the U.S. administration would not cross, but six months into the conflict, many of those lines have been crossed with no clear exit strategy in view.
The bank noted that oil prices have climbed above $100 a barrel with gasoline at $4.37 a gallon. It also noted that US diesel prices have hit an all-time high of $6.31 a gallon heading into winter, the period of peak seasonal demand, while inventories sit at all-time lows.
JP Morgan estimated Brent's fair value at around $90 a barrel for September, compared with current prices near $106, suggesting markets are pricing in the risk of further supply losses beyond the estimated 10 million barrels per day already disrupted.
#noted #markets
4 days ago
Interested in Walmart Inc.? Here are five stocks we like better.
Target trades at roughly 15 times earnings with a 3% yield, presenting value relative to Walmart and Costco ahead of the holiday season.
Aggressive price cuts on over 10,000 items and October Deal Days discounts of up to 40% could drive market-beating Q3 and holiday results.
Dividend growth exceeding 50 years, buyback capacity, and heavy institutional ownership near 80% help limit downside risk into 2026.
Believe it or not, the holiday shopping season is here, so it's time to consider the best plays. As it stands, seasonal sales growth is expected to accelerate year over year to 4.55% to 4.8%, topping $1.7 trillion for the first time, underpinned as always by e-commerce. Digital sales are expected to top 8% seasonally and may outpace expectations as AI adoption accelerates. Hyperscalers, business services, and merchants are embedding AI throughout the digital retail stack, and it is resonating with consumers. An estimated 25% to 30% of shoppers say they will use AI this season for help with research, price comparisons, and budgeting.
#time
Target trades at roughly 15 times earnings with a 3% yield, presenting value relative to Walmart and Costco ahead of the holiday season.
Aggressive price cuts on over 10,000 items and October Deal Days discounts of up to 40% could drive market-beating Q3 and holiday results.
Dividend growth exceeding 50 years, buyback capacity, and heavy institutional ownership near 80% help limit downside risk into 2026.
Believe it or not, the holiday shopping season is here, so it's time to consider the best plays. As it stands, seasonal sales growth is expected to accelerate year over year to 4.55% to 4.8%, topping $1.7 trillion for the first time, underpinned as always by e-commerce. Digital sales are expected to top 8% seasonally and may outpace expectations as AI adoption accelerates. Hyperscalers, business services, and merchants are embedding AI throughout the digital retail stack, and it is resonating with consumers. An estimated 25% to 30% of shoppers say they will use AI this season for help with research, price comparisons, and budgeting.
#time
4 days ago
Amazon raised minimum starting pay for its U.S. full-time core operations employees to $20 an hour on Wednesday, a $1-per-hour increase for front-line workers who sort, pack, and transport orders.
Amazon said the typical hourly rate for those workers climbs to nearly $24, and that when benefits are counted, total compensation comes out to more than $32 an hour. Amazon said its minimum starting pay has risen more than 17% over the past three years.
The announcement arrives as Amazon approaches the peak holiday shopping season. According to The Wall Street Journal, Amazon hired 250,000 full-time, part-time, and seasonal workers in advance of last year's holiday period.
Along with the pay increase, Amazon announced two new benefits. Beginning Oct. 1, all U.S. Amazon employees will receive a grocery discount — 10% off eligible groceries and everyday essentials on Amazon.com and Whole Foods Market online, and 20% off in-store at Whole Foods. The discount can be combined with existing Prime member discounts, the company said.
Amazon also said it is launching a banking benefit called Day 1 Financial, through which qualified employees and their families can obtain a lifelong membership in First Tech Federal Credit Union. The benefit includes accounts with no overdraft fees, no monthly maintenance fees, and no account minimums, as well as access to credit cards, auto loans, and home loans for those who qualify. The company said the rollout will start in late 2026, with broad availability expected in 2027.
#time #employees #credit #starting
Amazon said the typical hourly rate for those workers climbs to nearly $24, and that when benefits are counted, total compensation comes out to more than $32 an hour. Amazon said its minimum starting pay has risen more than 17% over the past three years.
The announcement arrives as Amazon approaches the peak holiday shopping season. According to The Wall Street Journal, Amazon hired 250,000 full-time, part-time, and seasonal workers in advance of last year's holiday period.
Along with the pay increase, Amazon announced two new benefits. Beginning Oct. 1, all U.S. Amazon employees will receive a grocery discount — 10% off eligible groceries and everyday essentials on Amazon.com and Whole Foods Market online, and 20% off in-store at Whole Foods. The discount can be combined with existing Prime member discounts, the company said.
Amazon also said it is launching a banking benefit called Day 1 Financial, through which qualified employees and their families can obtain a lifelong membership in First Tech Federal Credit Union. The benefit includes accounts with no overdraft fees, no monthly maintenance fees, and no account minimums, as well as access to credit cards, auto loans, and home loans for those who qualify. The company said the rollout will start in late 2026, with broad availability expected in 2027.
#time #employees #credit #starting
4 days ago
With the market coming into a seasonally weak time of year, Bear Call Spreads could be an interesting trade to consider.
A bear call spread is a type of vertical spread, meaning that two options within the same expiry month are being traded.
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#spread #option #bear #call
A bear call spread is a type of vertical spread, meaning that two options within the same expiry month are being traded.
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#spread #option #bear #call
5 days ago
With a market cap of $22.4 billion, Dollar Tree, Inc. (DLTR) operates discount variety stores across the United States and Canada under the Dollar Tree and Dollar Tree Canada brands. The company offers a wide range of consumables, variety merchandise, and seasonal goods, catering to everyday needs as well as holidays and special occasions.
Companies worth more than $10 billion are generally labeled as "large-cap" stocks and Dollar Tree fits this criterion perfectly. Supported by a nationwide logistics network and its e-commerce platform, DollarTree.com, the retailer serves individuals, small businesses, and organizations with affordable products and bulk purchasing options.
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#Stock #variety
Companies worth more than $10 billion are generally labeled as "large-cap" stocks and Dollar Tree fits this criterion perfectly. Supported by a nationwide logistics network and its e-commerce platform, DollarTree.com, the retailer serves individuals, small businesses, and organizations with affordable products and bulk purchasing options.
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#Stock #variety
5 days ago
GSK plc (NYSE:GSK) plans to close its vaccine manufacturing facility in Dresden, Germany, by summer 2027, putting 641 jobs at risk. The decision reflects declining demand for traditional egg-based flu vaccines, which has left GSK with more manufacturing capacity than it needs. GSK reviewed its Dresden and Ste-Foy, Canada, flu vaccine sites and chose to consolidate production in Canada, which it says can meet anticipated demand more sustainably and competitively.
The closure comes as GSK plc (NYSE:GSK) is shifting its influenza strategy toward newer technology: the company is advancing an mRNA-based seasonal flu vaccine into Phase III after Phase II results showed stronger immune responses than standard-dose vaccines in younger adults and high-dose vaccines in older adults. The broader vaccine environment has also weakened, with Reuters reporting declining sales across flu, RSV, and other vaccines amid lower demand and policy-related pressures, increasing the importance of manufacturing discipline and portfolio selection.
Copyright: kadmy / 123RF Stock Photo
The closure could ultimately strengthen GSK plc (NYSE:GSK)'s margins and cash generation by removing excess capacity from a declining part of the influenza market rather than continuing to carry the fixed costs of an underutilized facility. GSK explicitly said demand for traditional egg-based flu vaccines is falling and that it has more capacity than required, while the Canadian facility can meet anticipated future demand competitively.
This is particularly important because GSK's vaccine business remains a significant earnings contributor but is increasingly being driven by products with better growth prospects: second-quarter 2026 vaccine sales rose 8% to £2.3 billion, with meningitis vaccines up 21% and Arexvy sales increasing by more than 100%, while Shingrix generated £0.9 billion. The Dresden decision therefore looks less like a retreat from vaccines overall and more like a reallocation of manufacturing capacity away from mature egg-based products toward higher-value technologies.
#demand #Manufacturing
The closure comes as GSK plc (NYSE:GSK) is shifting its influenza strategy toward newer technology: the company is advancing an mRNA-based seasonal flu vaccine into Phase III after Phase II results showed stronger immune responses than standard-dose vaccines in younger adults and high-dose vaccines in older adults. The broader vaccine environment has also weakened, with Reuters reporting declining sales across flu, RSV, and other vaccines amid lower demand and policy-related pressures, increasing the importance of manufacturing discipline and portfolio selection.
Copyright: kadmy / 123RF Stock Photo
The closure could ultimately strengthen GSK plc (NYSE:GSK)'s margins and cash generation by removing excess capacity from a declining part of the influenza market rather than continuing to carry the fixed costs of an underutilized facility. GSK explicitly said demand for traditional egg-based flu vaccines is falling and that it has more capacity than required, while the Canadian facility can meet anticipated future demand competitively.
This is particularly important because GSK's vaccine business remains a significant earnings contributor but is increasingly being driven by products with better growth prospects: second-quarter 2026 vaccine sales rose 8% to £2.3 billion, with meningitis vaccines up 21% and Arexvy sales increasing by more than 100%, while Shingrix generated £0.9 billion. The Dresden decision therefore looks less like a retreat from vaccines overall and more like a reallocation of manufacturing capacity away from mature egg-based products toward higher-value technologies.
#demand #Manufacturing
5 days ago
With a market cap of $22.4 billion, Dollar Tree, Inc. (DLTR) operates discount variety stores across the United States and Canada under the Dollar Tree and Dollar Tree Canada brands. The company offers a wide range of consumables, variety merchandise, and seasonal goods, catering to everyday needs as well as holidays and special occasions.
Companies worth more than $10 billion are generally labeled as "large-cap" stocks and Dollar Tree fits this criterion perfectly. Supported by a nationwide logistics network and its e-commerce platform, DollarTree.com, the retailer serves individuals, small businesses, and organizations with affordable products and bulk purchasing options.
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#tree #canada #united #Companies
Companies worth more than $10 billion are generally labeled as "large-cap" stocks and Dollar Tree fits this criterion perfectly. Supported by a nationwide logistics network and its e-commerce platform, DollarTree.com, the retailer serves individuals, small businesses, and organizations with affordable products and bulk purchasing options.
Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week — But Not Because of Oil Prices.
Morgan Stanley Doubles Down on Apple Stock as New Offerings Become 'More Exciting'
The EV Bubble Has Burst. How to Play Rivian Stock Now.
#tree #canada #united #Companies
5 days ago
GSK plc (NYSE:GSK) plans to close its vaccine manufacturing facility in Dresden, Germany, by summer 2027, putting 641 jobs at risk. The decision reflects declining demand for traditional egg-based flu vaccines, which has left GSK with more manufacturing capacity than it needs. GSK reviewed its Dresden and Ste-Foy, Canada, flu vaccine sites and chose to consolidate production in Canada, which it says can meet anticipated demand more sustainably and competitively.
The closure comes as GSK plc (NYSE:GSK) is shifting its influenza strategy toward newer technology: the company is advancing an mRNA-based seasonal flu vaccine into Phase III after Phase II results showed stronger immune responses than standard-dose vaccines in younger adults and high-dose vaccines in older adults. The broader vaccine environment has also weakened, with Reuters reporting declining sales across flu, RSV, and other vaccines amid lower demand and policy-related pressures, increasing the importance of manufacturing discipline and portfolio selection.
Copyright: kadmy / 123RF Stock Photo
The closure could ultimately strengthen GSK plc (NYSE:GSK)'s margins and cash generation by removing excess capacity from a declining part of the influenza market rather than continuing to carry the fixed costs of an underutilized facility. GSK explicitly said demand for traditional egg-based flu vaccines is falling and that it has more capacity than required, while the Canadian facility can meet anticipated future demand competitively.
This is particularly important because GSK's vaccine business remains a significant earnings contributor but is increasingly being driven by products with better growth prospects: second-quarter 2026 vaccine sales rose 8% to £2.3 billion, with meningitis vaccines up 21% and Arexvy sales increasing by more than 100%, while Shingrix generated £0.9 billion. The Dresden decision therefore looks less like a retreat from vaccines overall and more like a reallocation of manufacturing capacity away from mature egg-based products toward higher-value technologies.
#vaccine
The closure comes as GSK plc (NYSE:GSK) is shifting its influenza strategy toward newer technology: the company is advancing an mRNA-based seasonal flu vaccine into Phase III after Phase II results showed stronger immune responses than standard-dose vaccines in younger adults and high-dose vaccines in older adults. The broader vaccine environment has also weakened, with Reuters reporting declining sales across flu, RSV, and other vaccines amid lower demand and policy-related pressures, increasing the importance of manufacturing discipline and portfolio selection.
Copyright: kadmy / 123RF Stock Photo
The closure could ultimately strengthen GSK plc (NYSE:GSK)'s margins and cash generation by removing excess capacity from a declining part of the influenza market rather than continuing to carry the fixed costs of an underutilized facility. GSK explicitly said demand for traditional egg-based flu vaccines is falling and that it has more capacity than required, while the Canadian facility can meet anticipated future demand competitively.
This is particularly important because GSK's vaccine business remains a significant earnings contributor but is increasingly being driven by products with better growth prospects: second-quarter 2026 vaccine sales rose 8% to £2.3 billion, with meningitis vaccines up 21% and Arexvy sales increasing by more than 100%, while Shingrix generated £0.9 billion. The Dresden decision therefore looks less like a retreat from vaccines overall and more like a reallocation of manufacturing capacity away from mature egg-based products toward higher-value technologies.
#vaccine
7 days ago
On September 10, Designer Brands (NYSE:DBI) reported second-quarter results that pushed full-year earnings guidance sharply higher, even as net sales slipped 1% year over year to $730.6 million. Adjusted operating income reached $39.4 million for the quarter, and management raised its adjusted diluted earnings per share outlook to a range of $0.47 to $0.52, up from $0.28 to $0.38. That kind of upward revision usually calms skeptics. Here, more than a third of the float is still sold short.
The clearest story in this report is a company reorganizing itself around its own brands rather than its stores. Brand portfolio sales climbed 18% in the quarter to $86.3 million, and the growth showed up on the bottom line too, with year-to-date adjusted operating income of $58.8 million, more than doubling what Designer Brands produced over the same stretch last year. Topo grew revenue more than 24% during the quarter, and management now expects the brand to clear $100 million in 2027. Jessica Simpson sales rose about 24% as well, with growth across every major account, and intercompany sales between the brand and retail segments rose by double digits, a sign the two sides of the business are reinforcing each other rather than splitting the same customer dollar.
Profitability improved even where the headlines are less flashy. Gross margin expanded 430 basis points to 47.9%, and while $20.2 million in tariff refunds accounted for much of that, the company still added 150 basis points of margin from better ***** ortment and inventory management alone. Merchandise margin in retail widened 140 basis points, with 100 of those points coming from less markdown activity, meaning more inventory is selling at full price. Debt fell by $93 million to $423.1 million compared with a year earlier, and total liquidity stood at roughly $198 million, funding room for projects like the Topo sourcing integration and the new Edit at DSW store-within-a-store pilot without leaning further on the balance sheet.
The retail side of the business is still the drag. CEO Doug Howe said sandals, the company's largest seasonal category, "were pressured by early weather-related headwinds and never fully rebounded," and that alone accounted for roughly 200 basis points of the retail segment's 2% sales decline. Comparable sales fell 2.6% in retail and 2.4% companywide, and the segment battled a sequential traffic headwind even as average unit retail and average dollars per sale held firm. Strip out the brand portfolio's 18% growth, and the underlying store business is still shrinking.
#million #brands
The clearest story in this report is a company reorganizing itself around its own brands rather than its stores. Brand portfolio sales climbed 18% in the quarter to $86.3 million, and the growth showed up on the bottom line too, with year-to-date adjusted operating income of $58.8 million, more than doubling what Designer Brands produced over the same stretch last year. Topo grew revenue more than 24% during the quarter, and management now expects the brand to clear $100 million in 2027. Jessica Simpson sales rose about 24% as well, with growth across every major account, and intercompany sales between the brand and retail segments rose by double digits, a sign the two sides of the business are reinforcing each other rather than splitting the same customer dollar.
Profitability improved even where the headlines are less flashy. Gross margin expanded 430 basis points to 47.9%, and while $20.2 million in tariff refunds accounted for much of that, the company still added 150 basis points of margin from better ***** ortment and inventory management alone. Merchandise margin in retail widened 140 basis points, with 100 of those points coming from less markdown activity, meaning more inventory is selling at full price. Debt fell by $93 million to $423.1 million compared with a year earlier, and total liquidity stood at roughly $198 million, funding room for projects like the Topo sourcing integration and the new Edit at DSW store-within-a-store pilot without leaning further on the balance sheet.
The retail side of the business is still the drag. CEO Doug Howe said sandals, the company's largest seasonal category, "were pressured by early weather-related headwinds and never fully rebounded," and that alone accounted for roughly 200 basis points of the retail segment's 2% sales decline. Comparable sales fell 2.6% in retail and 2.4% companywide, and the segment battled a sequential traffic headwind even as average unit retail and average dollars per sale held firm. Strip out the brand portfolio's 18% growth, and the underlying store business is still shrinking.
#million #brands
9 days ago
Updated Sept. 11, 2026 3:51 pm ET
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(3 min)
1547 ET – U.S. natural gas futures end the week lower as the market enters the shoulder season where summer cooling demand tapers off before early-season heating demand starts to kick in. Last week’s 40 Bcf storage injection was bigger than expected, but smaller than average, leaving inventories 148 Bcf above the five-year average. “Elevated production and falling power demand point to larger injections ahead, leaving firm LNG demand as the main counterweight to the seasonal loosening,” Gelber & ***** ociates says in a note. Nymex front-month gas settles down 0.1% at $2.831/mmBtu for a 4.8% loss on the week.(anthony.harrupwsj.com)
0951 ET – U.S. natural gas futures are giving back yesterday’s small gains and on track for weekly losses as summer ends and cooling demand is set to ease into the autumn. Futures “remain in a sell-the-strength type trade,” Dennis Kissler of BOK Financial says in a note. “While the fundamentals still favor the bears, the market seems to be well supported near the $2.75-$2.70 area.” Nymex natural gas for October delivery is off 0.7% at $2.813/mmBtu.(anthony.harrupwsj.com)
#market #summer #average
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(3 min)
1547 ET – U.S. natural gas futures end the week lower as the market enters the shoulder season where summer cooling demand tapers off before early-season heating demand starts to kick in. Last week’s 40 Bcf storage injection was bigger than expected, but smaller than average, leaving inventories 148 Bcf above the five-year average. “Elevated production and falling power demand point to larger injections ahead, leaving firm LNG demand as the main counterweight to the seasonal loosening,” Gelber & ***** ociates says in a note. Nymex front-month gas settles down 0.1% at $2.831/mmBtu for a 4.8% loss on the week.(anthony.harrupwsj.com)
0951 ET – U.S. natural gas futures are giving back yesterday’s small gains and on track for weekly losses as summer ends and cooling demand is set to ease into the autumn. Futures “remain in a sell-the-strength type trade,” Dennis Kissler of BOK Financial says in a note. “While the fundamentals still favor the bears, the market seems to be well supported near the $2.75-$2.70 area.” Nymex natural gas for October delivery is off 0.7% at $2.813/mmBtu.(anthony.harrupwsj.com)
#market #summer #average
9 days ago
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Paying off your mortgage used to be something people aspired to. Now, many Americans fantasize about simply getting one.
The National ***** ociation of Realtors said Thursday that US home sales fell 2% month-over-month in August to a 14-month low. The seasonally adjusted annual rate of 3.98 million residences, the lowest since June 2025, was weighed down by stubbornly high mortgage rates and home prices.
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READ ALSO: Musk's Boring Company Scores $23 Billion Valuation Despite Slow Progress and Brian Niccol's Two-Year Turnaround Serves Up Sales Growth for Starbucks
#month #sign #sales #paying
Paying off your mortgage used to be something people aspired to. Now, many Americans fantasize about simply getting one.
The National ***** ociation of Realtors said Thursday that US home sales fell 2% month-over-month in August to a 14-month low. The seasonally adjusted annual rate of 3.98 million residences, the lowest since June 2025, was weighed down by stubbornly high mortgage rates and home prices.
Sign up for The Daily Upside at no cost for premium ***** ysis on all your favorite stocks.
READ ALSO: Musk's Boring Company Scores $23 Billion Valuation Despite Slow Progress and Brian Niccol's Two-Year Turnaround Serves Up Sales Growth for Starbucks
#month #sign #sales #paying
10 days ago
May Lee was downsized from HP, where she had worked for over 30 years.
After a valuable conversation, she decided to pivot entirely and take a seasonal job in Antarctica.
She can't wait to return to Antarctica for her second job.
This as-told-to essay is based on a conversation with May Lee, a 59-year-old seasonal worker in Antarctica and former marketing and communications manager at HP. It has been edited for length and clarity.
I joined Hewlett-Packard in 1987 as a software engineer intern. As a graduate, I wanted to sign on for life with a good company that I knew I could be loyal to and would be as loyal as a company could be.
#seasonal #packard #downsized
After a valuable conversation, she decided to pivot entirely and take a seasonal job in Antarctica.
She can't wait to return to Antarctica for her second job.
This as-told-to essay is based on a conversation with May Lee, a 59-year-old seasonal worker in Antarctica and former marketing and communications manager at HP. It has been edited for length and clarity.
I joined Hewlett-Packard in 1987 as a software engineer intern. As a graduate, I wanted to sign on for life with a good company that I knew I could be loyal to and would be as loyal as a company could be.
#seasonal #packard #downsized
10 days ago
Volatility has picked up in recent days as the market digests rising yields and oil prices along with seasonal headwinds. With everything going on, volatility could rear its ugly head again at any time.
The VIX Index closed at 16.46 yesterday after briefly dropping below 14 last week.
Unusual Options Activity Points to Big Institutional Bets on These 3 Industries
Volatility Insurance for Applied Optoelectronics (AAOI) Stock Potentially Inspires a Contrarian Outlook
A Rare Quant Signal Just Flashed for Contrarian Options Traders in Home Depot Stock
#Stock #index #points #bets
The VIX Index closed at 16.46 yesterday after briefly dropping below 14 last week.
Unusual Options Activity Points to Big Institutional Bets on These 3 Industries
Volatility Insurance for Applied Optoelectronics (AAOI) Stock Potentially Inspires a Contrarian Outlook
A Rare Quant Signal Just Flashed for Contrarian Options Traders in Home Depot Stock
#Stock #index #points #bets
11 days ago
Our ****** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Management attributed the significant improvement in adjusted operating income to tariff claim refunds received during the quarter, while also noting gross profit expansion driven by elevated ****** ortment, disciplined sourcing, and improved markdown management.
Retail segment softness was primarily driven by a 200 basis point headwind from seasonal sandals, which suffered from early weather-related challenges and failed to rebound.
The company achieved 150 basis points of core gross margin expansion through disciplined markdown management and elevated ****** ortments, despite operating in a highly promotional market environment.
Brand portfolio growth of 18% was fueled by double-digit wholesale increases, demonstrating the successful scaling of exclusive brands like Topo and Jessica Simpson across multiple distribution channels.
#operating #gross #expansion
Management attributed the significant improvement in adjusted operating income to tariff claim refunds received during the quarter, while also noting gross profit expansion driven by elevated ****** ortment, disciplined sourcing, and improved markdown management.
Retail segment softness was primarily driven by a 200 basis point headwind from seasonal sandals, which suffered from early weather-related challenges and failed to rebound.
The company achieved 150 basis points of core gross margin expansion through disciplined markdown management and elevated ****** ortments, despite operating in a highly promotional market environment.
Brand portfolio growth of 18% was fueled by double-digit wholesale increases, demonstrating the successful scaling of exclusive brands like Topo and Jessica Simpson across multiple distribution channels.
#operating #gross #expansion
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11 days ago
Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Delivered 12% sales growth driven by full-price transactions in core categories like woven tops and seasonal knits, reflecting a growing full-price customer base.
Acquired OVO's operating business to enter the fast-growing global streetwear market, a category previously unaddressed by the company's portfolio.
Transitioning to a multi-brand platform by leveraging Vince's established 'operating backbone'—including sourcing, production, and logistics—to scale the OVO brand.
Deepened the partnership with Authentic Brands Group (ABG), securing a 5% stake in OVO's intellectual property and a long-term license to manufacture and sell product.
#full #brand #transitioning
Delivered 12% sales growth driven by full-price transactions in core categories like woven tops and seasonal knits, reflecting a growing full-price customer base.
Acquired OVO's operating business to enter the fast-growing global streetwear market, a category previously unaddressed by the company's portfolio.
Transitioning to a multi-brand platform by leveraging Vince's established 'operating backbone'—including sourcing, production, and logistics—to scale the OVO brand.
Deepened the partnership with Authentic Brands Group (ABG), securing a 5% stake in OVO's intellectual property and a long-term license to manufacture and sell product.
#full #brand #transitioning
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13 days ago
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Dunkin' has enlisted the help of a pair of former Spice Girls and the comedian Rachel Dratch to promote the company's pumpkin spice lineup.
The Boston-based coffee-and-doughnut chain has released new ads for the company's Pumpkin Spice Signature Latte, Pumpkin Cloud Dunkalatte, and other fall-flavored beverages.
The ads include former Spice Girls members Emma Bunton, or "Baby Spice," and Geri Halliwell-Horner, or "Ginger Spice." They discuss their time with the band in an interview, when they reveal a previously unknown sixth Spice Girl, "Pumpkin Spice," portrayed by Dratch.
They ultimately said she was "too seasonal" for the band and Dratch notes she "left to focus on lattes."
#girls #former #subscribe #boston
Dunkin' has enlisted the help of a pair of former Spice Girls and the comedian Rachel Dratch to promote the company's pumpkin spice lineup.
The Boston-based coffee-and-doughnut chain has released new ads for the company's Pumpkin Spice Signature Latte, Pumpkin Cloud Dunkalatte, and other fall-flavored beverages.
The ads include former Spice Girls members Emma Bunton, or "Baby Spice," and Geri Halliwell-Horner, or "Ginger Spice." They discuss their time with the band in an interview, when they reveal a previously unknown sixth Spice Girl, "Pumpkin Spice," portrayed by Dratch.
They ultimately said she was "too seasonal" for the band and Dratch notes she "left to focus on lattes."
#girls #former #subscribe #boston
13 days ago
Germany is risking gas shortages this winter if it turns out to be colder than previous years, the country's gas storage ******* ociation has warned.
With current gas storage levels at 54.52%, the industry ******* ociation, INES, said the best it could do by November 1 would be 77%. This would be more than the latest target set by the German government but less than the usual level of gas in storage as of November 1. This means that if it gets very cold in December and January, shortages may emerge.
However, it is far from certain that Germany's gas storage caverns would reach the 77% full level, the head of INES suggested, as quoted by Reuters. Reaching this level by November 1 would require an injection rate of 1 terawatt-hour daily, and injection rates over the past three weeks have been lower than that, Sebastian Heinemann said.
At current injection rates, Germany's storage will only be 63% as of November 1, he also warned. Per Gas Infrastructure Europe, Germany is currently injecting gas into storage at a rate of around 900 GWh daily.
If the winter is mild, 77% full gas storage would be enough to cover seasonal demand and leave Germany with 38% full storage by April 1, the executive noted. However, if the winter turns out colder than hoped for, some days in January could see a gap between gas demand and supply of as much as 25%.
#storage #winter #however
With current gas storage levels at 54.52%, the industry ******* ociation, INES, said the best it could do by November 1 would be 77%. This would be more than the latest target set by the German government but less than the usual level of gas in storage as of November 1. This means that if it gets very cold in December and January, shortages may emerge.
However, it is far from certain that Germany's gas storage caverns would reach the 77% full level, the head of INES suggested, as quoted by Reuters. Reaching this level by November 1 would require an injection rate of 1 terawatt-hour daily, and injection rates over the past three weeks have been lower than that, Sebastian Heinemann said.
At current injection rates, Germany's storage will only be 63% as of November 1, he also warned. Per Gas Infrastructure Europe, Germany is currently injecting gas into storage at a rate of around 900 GWh daily.
If the winter is mild, 77% full gas storage would be enough to cover seasonal demand and leave Germany with 38% full storage by April 1, the executive noted. However, if the winter turns out colder than hoped for, some days in January could see a gap between gas demand and supply of as much as 25%.
#storage #winter #however
14 days ago
Mike McCarthy is wasting little time putting his own stamp on the Pittsburgh Steelers, with the new head coach set to end one of Mike Tomlin's longest-running traditions before the 2026 season begins.
Rather than sticking with permanent captains, McCarthy has confirmed that Pittsburgh will use a weekly captain format, giving different players the opportunity to take on a leadership role throughout the season.
Tomlin stepped down in January after 19 seasons in charge, having never overseen a losing campaign. His approach included naming seasonal captains, with four players chosen for those roles last year.
Aaron Rodgers led the offence, Cameron Heyward and T.J. Watt represented the defence, while Miles Killebrew handled special teams. Killebrew has since left Pittsburgh for Tampa Bay.
Photo by Joe Sargent/Getty Images
#steelers #tomlin
Rather than sticking with permanent captains, McCarthy has confirmed that Pittsburgh will use a weekly captain format, giving different players the opportunity to take on a leadership role throughout the season.
Tomlin stepped down in January after 19 seasons in charge, having never overseen a losing campaign. His approach included naming seasonal captains, with four players chosen for those roles last year.
Aaron Rodgers led the offence, Cameron Heyward and T.J. Watt represented the defence, while Miles Killebrew handled special teams. Killebrew has since left Pittsburgh for Tampa Bay.
Photo by Joe Sargent/Getty Images
#steelers #tomlin
15 days ago
Dollar Tree, Inc. (NASDAQ:DLTR) and Dollar General Corporation (NYSE:DG) both reported quarterly results above sales expectations as lower-priced essentials continued to drive consumers to their stores amid economic uncertainty. Both retailers also benefited from tariff refunds, which helped support their higher full-year profit targets.
Dollar General Corporation (NYSE:DG) saw a 3.5% year-over-year increase in quarterly same-store sales, supported by growth across categories like seasonal, home products, and apparel. The company lifted its fiscal 2026 same-store sales growth forecast from its earlier range of 2.2% to 2.7% to 2.5% to 2.9%.
Dollar General Corporation (NYSE:DG) now expects fiscal 2026 earnings per share of about $7.80 to $8.00. This includes a benefit of about 25 cents from tariff refunds after related reinvestments. Dollar Tree, Inc. (NASDAQ:DLTR) also raised its full-year earnings forecast to $7.70 to $8.05 per share, which includes a benefit of about 60 cents from tariff refunds.
Bull Case
It is not difficult to argue that the latest results point to improving momentum at both discount retailers. Dollar General Corporation (NYSE:DG) delivered its seventh consecutive earnings beat, with earnings per share coming in 11% above ******* ysts' expectations. Even after excluding the 25-cent net benefit from tariff refunds, the company's earnings were up approximately 20% year-over-year.
#dollar #year #refunds #sales
Dollar General Corporation (NYSE:DG) saw a 3.5% year-over-year increase in quarterly same-store sales, supported by growth across categories like seasonal, home products, and apparel. The company lifted its fiscal 2026 same-store sales growth forecast from its earlier range of 2.2% to 2.7% to 2.5% to 2.9%.
Dollar General Corporation (NYSE:DG) now expects fiscal 2026 earnings per share of about $7.80 to $8.00. This includes a benefit of about 25 cents from tariff refunds after related reinvestments. Dollar Tree, Inc. (NASDAQ:DLTR) also raised its full-year earnings forecast to $7.70 to $8.05 per share, which includes a benefit of about 60 cents from tariff refunds.
Bull Case
It is not difficult to argue that the latest results point to improving momentum at both discount retailers. Dollar General Corporation (NYSE:DG) delivered its seventh consecutive earnings beat, with earnings per share coming in 11% above ******* ysts' expectations. Even after excluding the 25-cent net benefit from tariff refunds, the company's earnings were up approximately 20% year-over-year.
#dollar #year #refunds #sales
16 days ago
Chief Executive David Steinberg cracked some XL-sized eggs before hatching Zeta Global (ZETA) and building it up into a soaring and swooping AI marketing stock. Just this year, Zeta shares have climbed more than 50%.
His prior company, InPhonic, drew condemnation from a Better Business Bureau chief executive, prized growth over profits, faced regulatory charges and landed in bankruptcy court. After it delisted, it seems the serial founder was ***** -bent on constructing its foil.
That's Zeta. Early on, it was apparently so bottom-line focused that venture capitalists deemed it "too profitable" to invest. Steinberg and his partners initially self-funded it.
Zeta is now a rising marketing and advertising platform — with partners such as Palantir (PLTR) and OpenAI, and an AI bot named after a Greek goddess.
Wall Street expects Zeta's revenue growth to accelerate. After rising an average of 30.3% over the past three years, ***** ysts see 39% growth this year, to $1.82 billion, per FactSet. They also anticipate rising quarterly profits, including $12.5 million in the third quarter and $22.4 million in the fourth, with a dip attributable to seasonality the following quarter.
#partners
His prior company, InPhonic, drew condemnation from a Better Business Bureau chief executive, prized growth over profits, faced regulatory charges and landed in bankruptcy court. After it delisted, it seems the serial founder was ***** -bent on constructing its foil.
That's Zeta. Early on, it was apparently so bottom-line focused that venture capitalists deemed it "too profitable" to invest. Steinberg and his partners initially self-funded it.
Zeta is now a rising marketing and advertising platform — with partners such as Palantir (PLTR) and OpenAI, and an AI bot named after a Greek goddess.
Wall Street expects Zeta's revenue growth to accelerate. After rising an average of 30.3% over the past three years, ***** ysts see 39% growth this year, to $1.82 billion, per FactSet. They also anticipate rising quarterly profits, including $12.5 million in the third quarter and $22.4 million in the fourth, with a dip attributable to seasonality the following quarter.
#partners
16 days ago
Dollar Tree, Inc. (NASDAQ:DLTR) and Dollar General Corporation (NYSE:DG) both reported quarterly results above sales expectations as lower-priced essentials continued to drive consumers to their stores amid economic uncertainty. Both retailers also benefited from tariff refunds, which helped support their higher full-year profit targets.
Dollar General Corporation (NYSE:DG) saw a 3.5% year-over-year increase in quarterly same-store sales, supported by growth across categories like seasonal, home products, and apparel. The company lifted its fiscal 2026 same-store sales growth forecast from its earlier range of 2.2% to 2.7% to 2.5% to 2.9%.
Dollar General Corporation (NYSE:DG) now expects fiscal 2026 earnings per share of about $7.80 to $8.00. This includes a benefit of about 25 cents from tariff refunds after related reinvestments. Dollar Tree, Inc. (NASDAQ:DLTR) also raised its full-year earnings forecast to $7.70 to $8.05 per share, which includes a benefit of about 60 cents from tariff refunds.
Bull Case
It is not difficult to argue that the latest results point to improving momentum at both discount retailers. Dollar General Corporation (NYSE:DG) delivered its seventh consecutive earnings beat, with earnings per share coming in 11% above **** ysts' expectations. Even after excluding the 25-cent net benefit from tariff refunds, the company's earnings were up approximately 20% year-over-year.
#general #refunds
Dollar General Corporation (NYSE:DG) saw a 3.5% year-over-year increase in quarterly same-store sales, supported by growth across categories like seasonal, home products, and apparel. The company lifted its fiscal 2026 same-store sales growth forecast from its earlier range of 2.2% to 2.7% to 2.5% to 2.9%.
Dollar General Corporation (NYSE:DG) now expects fiscal 2026 earnings per share of about $7.80 to $8.00. This includes a benefit of about 25 cents from tariff refunds after related reinvestments. Dollar Tree, Inc. (NASDAQ:DLTR) also raised its full-year earnings forecast to $7.70 to $8.05 per share, which includes a benefit of about 60 cents from tariff refunds.
Bull Case
It is not difficult to argue that the latest results point to improving momentum at both discount retailers. Dollar General Corporation (NYSE:DG) delivered its seventh consecutive earnings beat, with earnings per share coming in 11% above **** ysts' expectations. Even after excluding the 25-cent net benefit from tariff refunds, the company's earnings were up approximately 20% year-over-year.
#general #refunds
16 days ago
Bitcoin news today shows the price rose more than 5% on September 3 to trade briefly above $82,000, as concerns about a Federal Reserve rate hike eased and Treasury yields fell. Fundstrat head of digital ******* ets Sean Farrell called the move important data worth respecting, while noting Bitcoin has bucked its historically weak September pattern over the past three years.
This is not simply a one-day rebound. It is the latest data point in a debate among strategists over whether the crypto bear market has already bottomed, a thesis complicated by volatile spot Bitcoin ETF flows and a seasonal track record that still favors caution.
DISCOVER: Upcoming Binance Listings
The token's move above $82,000 follows a 25% rally in August, a month strategists have flagged as a turning point after the Treasury Department's intervention in the bond market and ******* istance to ******* an helped lift both gold and crypto prices. Some of those August gains were erased when oil prices surged and hawkish remarks from Fed Chairman Kevin Warsh raised concerns about the central bank's September rate decision, before Fed governor Christopher Waller signaled openness to holding rates steady if inflation continues to ease.
Despite the rebound, Bitcoin remains roughly 7% lower year to date and about 35% below the all-time high of more than $126,000 it reached in early October 2025. September itself carries an unfavorable base rate: Farrell noted Bitcoin has posted negative returns in nine of the past 15 years during the month, though he cautioned that seasonality is a helpful data point rather than a foolproof trading system. For more on how Treasury-yield dynamics have shaped this resilience, see Bitcoin's macro pressure and resilience, and on the ETF side, BlackRock's IBIT and the current price setup.
#september #treasury #point #farrell
This is not simply a one-day rebound. It is the latest data point in a debate among strategists over whether the crypto bear market has already bottomed, a thesis complicated by volatile spot Bitcoin ETF flows and a seasonal track record that still favors caution.
DISCOVER: Upcoming Binance Listings
The token's move above $82,000 follows a 25% rally in August, a month strategists have flagged as a turning point after the Treasury Department's intervention in the bond market and ******* istance to ******* an helped lift both gold and crypto prices. Some of those August gains were erased when oil prices surged and hawkish remarks from Fed Chairman Kevin Warsh raised concerns about the central bank's September rate decision, before Fed governor Christopher Waller signaled openness to holding rates steady if inflation continues to ease.
Despite the rebound, Bitcoin remains roughly 7% lower year to date and about 35% below the all-time high of more than $126,000 it reached in early October 2025. September itself carries an unfavorable base rate: Farrell noted Bitcoin has posted negative returns in nine of the past 15 years during the month, though he cautioned that seasonality is a helpful data point rather than a foolproof trading system. For more on how Treasury-yield dynamics have shaped this resilience, see Bitcoin's macro pressure and resilience, and on the ETF side, BlackRock's IBIT and the current price setup.
#september #treasury #point #farrell
16 days ago
On August 4, Archrock (NYSE:AROC) posted second-quarter results that told two different stories at once. Revenue slipped to $371.2 million from $383.2 million a year earlier, yet net income climbed to $66.7 million, and earnings per share rose to $0.38. That gap between a shrinking top line and a growing bottom line is the puzzle this quarter leaves investors to sort out.
The clearest bull signal came from a new long-term agreement with an existing strategic customer covering roughly 665,000 horsepower, structured with an eight-year base term and a two-year extension option. That kind of commitment locks in cash flow well into the next decade and reinforces management's multi-year growth capital expenditure guidance of $1.4 billion to $1.6 billion **** ulatively from 2027 through 2030. The core contract operations segment backed that confidence with real numbers. Revenue there rose 3% to $329.3 million, and adjusted gross margin improved to 71% from 70%, with period-end utilization at 94.4%.
The balance sheet also moved in the right direction. Archrock's leverage ratio fell to 2.6x as of June 30, down from 3.3x a year earlier, even after the company redeemed its entire $800 million of 6.250% senior notes due 2028 on April 1. The board kept rewarding shareholders through it all, declaring a quarterly dividend of $0.23 per share, about 10% higher than a year ago, marking the fifth increase in two years, with coverage still comfortable at 3.1x.
The softer parts of this quarter center on aftermarket services and forward guidance. That segment's revenue fell to $42.0 million from $64.8 million, as last year's non-recurring sales of overhauled engines did not repeat and maintenance demand skipped its usual mid-year seasonal **** p. Total operating horsepower also declined to 4.5 million from 4.7 million, partly from the sale of about 165,000 non-strategic units.
On the guidance front, Archrock tightened its full-year adjusted EBITDA range to $865 million to $885 million, down from a prior range of $865 million to $915 million, pointing to lube oil cost pressure, higher make-ready spending to reactivate idle equipment, and increased SG&A tied to stock-based incentive compensation. Adjusted net income actually dipped to $66.5 million and adjusted EPS to $0.38, both slightly below last year's $68.4 million and $0.39. Long-term debt still sits at $2.3 billion, and Archrock did not repurchase any shares during the quarter, leaving $113.2 million of buyback capacity untouched.
#million
The clearest bull signal came from a new long-term agreement with an existing strategic customer covering roughly 665,000 horsepower, structured with an eight-year base term and a two-year extension option. That kind of commitment locks in cash flow well into the next decade and reinforces management's multi-year growth capital expenditure guidance of $1.4 billion to $1.6 billion **** ulatively from 2027 through 2030. The core contract operations segment backed that confidence with real numbers. Revenue there rose 3% to $329.3 million, and adjusted gross margin improved to 71% from 70%, with period-end utilization at 94.4%.
The balance sheet also moved in the right direction. Archrock's leverage ratio fell to 2.6x as of June 30, down from 3.3x a year earlier, even after the company redeemed its entire $800 million of 6.250% senior notes due 2028 on April 1. The board kept rewarding shareholders through it all, declaring a quarterly dividend of $0.23 per share, about 10% higher than a year ago, marking the fifth increase in two years, with coverage still comfortable at 3.1x.
The softer parts of this quarter center on aftermarket services and forward guidance. That segment's revenue fell to $42.0 million from $64.8 million, as last year's non-recurring sales of overhauled engines did not repeat and maintenance demand skipped its usual mid-year seasonal **** p. Total operating horsepower also declined to 4.5 million from 4.7 million, partly from the sale of about 165,000 non-strategic units.
On the guidance front, Archrock tightened its full-year adjusted EBITDA range to $865 million to $885 million, down from a prior range of $865 million to $915 million, pointing to lube oil cost pressure, higher make-ready spending to reactivate idle equipment, and increased SG&A tied to stock-based incentive compensation. Adjusted net income actually dipped to $66.5 million and adjusted EPS to $0.38, both slightly below last year's $68.4 million and $0.39. Long-term debt still sits at $2.3 billion, and Archrock did not repurchase any shares during the quarter, leaving $113.2 million of buyback capacity untouched.
#million
18 days ago
Artisan Partners, an investment management company, released its second-quarter 2026 investor commentary for the "Artisan Global Opportunities Strategy". The letter can be downloaded here. Global equities rebounded sharply during the quarter, with the MSCI ACWI Index returning 15.3% as resilient economic growth, strong corporate earnings, and continued enthusiasm around artificial intelligence supported markets despite persistent inflation, higher bond yields, and geopolitical uncertainty. The portfolio reported strong absolute returns of 12.65% (net) but underperformed the benchmark, mainly because of its underweight exposure to information technology and overweight position in health care. Strong stock selection in technology and energy partially offset these headwinds. The fund continues to see attractive long-term opportunities across AI infrastructure, health care and consumer internet, while remaining disciplined on valuation as several AI-related stocks have appreciated sharply. Management remains focused on durable franchises with identifiable profit cycles and attractive long-term earnings potential. Also, check the Strategy's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Artisan Global Opportunities Strategy highlighted Insmed Incorporated (NASDAQ:INSM). Insmed Incorporated (NASDAQ:INSM) is a clinical-stage biotechnology company that develops and commercializes therapies for patients with serious and rare diseases. On September 01, 2026, Insmed Incorporated (NASDAQ:INSM) closed at $121.51 per share. Over the past month, Insmed Incorporated (NASDAQ:INSM) returned 25.42%, and its shares lost 13.45% over the past 52 weeks. Insmed Incorporated (NASDAQ:INSM) has a market capitalization of $27.14 billion.
Artisan Global Opportunities Strategy stated the following regarding Insmed Incorporated (NASDAQ:INSM) in its Q2 2026 investor letter:
"Our biggest detractors in Q2 were Insmed Incorporated (NASDAQ:INSM), BAE Systems and L3Harris Technologies. Insmed is a commercial-stage biotechnology company focused on pulmonary diseases. BRINSUPRI® continued its rapid launch, with robust patient uptake and encouraging third-party data. While Q1 sales came in modestly below elevated investor expectations, reflecting concerns around discontinuation rates, continuation on therapy and typical early-year seasonality, we believe the underlying launch trajectory remains encouraging. We continue to view BRINSUPRI® as a significant long-term opportunity. Our due diligence suggests the therapy remains well tolerated and is on track to achieve blockbuster-level sales. We trimmed the position during the quarter."
#NASDAQ #global #quarter
In its second-quarter 2026 investor letter, Artisan Global Opportunities Strategy highlighted Insmed Incorporated (NASDAQ:INSM). Insmed Incorporated (NASDAQ:INSM) is a clinical-stage biotechnology company that develops and commercializes therapies for patients with serious and rare diseases. On September 01, 2026, Insmed Incorporated (NASDAQ:INSM) closed at $121.51 per share. Over the past month, Insmed Incorporated (NASDAQ:INSM) returned 25.42%, and its shares lost 13.45% over the past 52 weeks. Insmed Incorporated (NASDAQ:INSM) has a market capitalization of $27.14 billion.
Artisan Global Opportunities Strategy stated the following regarding Insmed Incorporated (NASDAQ:INSM) in its Q2 2026 investor letter:
"Our biggest detractors in Q2 were Insmed Incorporated (NASDAQ:INSM), BAE Systems and L3Harris Technologies. Insmed is a commercial-stage biotechnology company focused on pulmonary diseases. BRINSUPRI® continued its rapid launch, with robust patient uptake and encouraging third-party data. While Q1 sales came in modestly below elevated investor expectations, reflecting concerns around discontinuation rates, continuation on therapy and typical early-year seasonality, we believe the underlying launch trajectory remains encouraging. We continue to view BRINSUPRI® as a significant long-term opportunity. Our due diligence suggests the therapy remains well tolerated and is on track to achieve blockbuster-level sales. We trimmed the position during the quarter."
#NASDAQ #global #quarter
18 days ago
Artisan Partners, an investment management company, released its second-quarter 2026 investor commentary for the "Artisan Global Opportunities Strategy". The letter can be downloaded here. Global equities rebounded sharply during the quarter, with the MSCI ACWI Index returning 15.3% as resilient economic growth, strong corporate earnings, and continued enthusiasm around artificial intelligence supported markets despite persistent inflation, higher bond yields, and geopolitical uncertainty. The portfolio reported strong absolute returns of 12.65% (net) but underperformed the benchmark, mainly because of its underweight exposure to information technology and overweight position in health care. Strong stock selection in technology and energy partially offset these headwinds. The fund continues to see attractive long-term opportunities across AI infrastructure, health care and consumer internet, while remaining disciplined on valuation as several AI-related stocks have appreciated sharply. Management remains focused on durable franchises with identifiable profit cycles and attractive long-term earnings potential. Also, check the Strategy's top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Artisan Global Opportunities Strategy highlighted Insmed Incorporated (NASDAQ:INSM). Insmed Incorporated (NASDAQ:INSM) is a clinical-stage biotechnology company that develops and commercializes therapies for patients with serious and rare diseases. On September 01, 2026, Insmed Incorporated (NASDAQ:INSM) closed at $121.51 per share. Over the past month, Insmed Incorporated (NASDAQ:INSM) returned 25.42%, and its shares lost 13.45% over the past 52 weeks. Insmed Incorporated (NASDAQ:INSM) has a market capitalization of $27.14 billion.
Artisan Global Opportunities Strategy stated the following regarding Insmed Incorporated (NASDAQ:INSM) in its Q2 2026 investor letter:
"Our biggest detractors in Q2 were Insmed Incorporated (NASDAQ:INSM), BAE Systems and L3Harris Technologies. Insmed is a commercial-stage biotechnology company focused on pulmonary diseases. BRINSUPRI® continued its rapid launch, with robust patient uptake and encouraging third-party data. While Q1 sales came in modestly below elevated investor expectations, reflecting concerns around discontinuation rates, continuation on therapy and typical early-year seasonality, we believe the underlying launch trajectory remains encouraging. We continue to view BRINSUPRI® as a significant long-term opportunity. Our due diligence suggests the therapy remains well tolerated and is on track to achieve blockbuster-level sales. We trimmed the position during the quarter."
#insm #artisan #global #quarter
In its second-quarter 2026 investor letter, Artisan Global Opportunities Strategy highlighted Insmed Incorporated (NASDAQ:INSM). Insmed Incorporated (NASDAQ:INSM) is a clinical-stage biotechnology company that develops and commercializes therapies for patients with serious and rare diseases. On September 01, 2026, Insmed Incorporated (NASDAQ:INSM) closed at $121.51 per share. Over the past month, Insmed Incorporated (NASDAQ:INSM) returned 25.42%, and its shares lost 13.45% over the past 52 weeks. Insmed Incorporated (NASDAQ:INSM) has a market capitalization of $27.14 billion.
Artisan Global Opportunities Strategy stated the following regarding Insmed Incorporated (NASDAQ:INSM) in its Q2 2026 investor letter:
"Our biggest detractors in Q2 were Insmed Incorporated (NASDAQ:INSM), BAE Systems and L3Harris Technologies. Insmed is a commercial-stage biotechnology company focused on pulmonary diseases. BRINSUPRI® continued its rapid launch, with robust patient uptake and encouraging third-party data. While Q1 sales came in modestly below elevated investor expectations, reflecting concerns around discontinuation rates, continuation on therapy and typical early-year seasonality, we believe the underlying launch trajectory remains encouraging. We continue to view BRINSUPRI® as a significant long-term opportunity. Our due diligence suggests the therapy remains well tolerated and is on track to achieve blockbuster-level sales. We trimmed the position during the quarter."
#insm #artisan #global #quarter
18 days ago
Calendar dates are not supposed to matter in efficient markets. Stock prices should reflect a company's cash flows, as well as sentiment toward macroeconomic variables such as interest rates. The fact that Labor Day is right around the corner shouldn't matter. Yet for nearly a century, one month has exhibited a noticeably different pattern from the rest of the year.
September is the only month in which the S&P 500 (SNPINDEX: ^GSPC) has posted a negative long-run average return, down roughly 1.1% between 1928 and 2025. While there is no single reason for September's historical weakness, much of the declines are attributed to portfolio managers returning from summer vacations and rebalancing their portfolios. This means liquidity that had thinned out during July and August has to absorb new selling pressure.
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 »
Investors should care because the September Effect is influential enough to manifest in even the most crowded growth trades. Let's explore what that could mean for artificial intelligence (AI) stocks.
One practical reason to notice patterns around September is concentration risk. When a handful of richly valued growth stocks dominate the S&P 500, a seasonally weak month can turn into a harsher de-risking event rather than a gentle period of digestion. That is the setting in which AI stocks now sit. More specifically, the largest AI companies, known as the "Magnificent Seven" -- Nvidia, Apple, Alphabet, Microsoft, Amazon, Tesla, and Meta Platforms -- now make up nearly 34% of the S&P 500's value.
#month #stocks #flashing
September is the only month in which the S&P 500 (SNPINDEX: ^GSPC) has posted a negative long-run average return, down roughly 1.1% between 1928 and 2025. While there is no single reason for September's historical weakness, much of the declines are attributed to portfolio managers returning from summer vacations and rebalancing their portfolios. This means liquidity that had thinned out during July and August has to absorb new selling pressure.
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 »
Investors should care because the September Effect is influential enough to manifest in even the most crowded growth trades. Let's explore what that could mean for artificial intelligence (AI) stocks.
One practical reason to notice patterns around September is concentration risk. When a handful of richly valued growth stocks dominate the S&P 500, a seasonally weak month can turn into a harsher de-risking event rather than a gentle period of digestion. That is the setting in which AI stocks now sit. More specifically, the largest AI companies, known as the "Magnificent Seven" -- Nvidia, Apple, Alphabet, Microsoft, Amazon, Tesla, and Meta Platforms -- now make up nearly 34% of the S&P 500's value.
#month #stocks #flashing
