11 days ago
There's an old investing rule, popularized by investing legend Peter Lynch, to invest in what you know. It's deceptively simple advice: The better you understand a business, the better equipped you are to recognize its opportunities.
Likewise, greater knowledge of a business improves your ability to recognize things that could potentially go wrong. That second part is especially important.
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 »
When it comes to NuScale Power (NYSE: SMR), there's one thing investors should probably know before buying the dip: what its small modular reactors (SMRs) could actually cost to operate. This isn't, to be sure, a question investors can answer with much certainty today, mainly because NuScale doesn't have a commercial reactor in operation.
That said, a newly released study, which has not yet gone through peer review, offers a sobering estimate. And if the findings hold up, the operating costs for NuScale's reactors could pose a much bigger problem to its business than previously thought.
#recognize
Likewise, greater knowledge of a business improves your ability to recognize things that could potentially go wrong. That second part is especially important.
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 »
When it comes to NuScale Power (NYSE: SMR), there's one thing investors should probably know before buying the dip: what its small modular reactors (SMRs) could actually cost to operate. This isn't, to be sure, a question investors can answer with much certainty today, mainly because NuScale doesn't have a commercial reactor in operation.
That said, a newly released study, which has not yet gone through peer review, offers a sobering estimate. And if the findings hold up, the operating costs for NuScale's reactors could pose a much bigger problem to its business than previously thought.
#recognize
15 days ago
Steelers news: AFC executive hits Joey Porter Jr. with humbling take amid contract dispute appeared first on ClutchPoints. Add ClutchPoints as a Preferred Source by clicking here.
Ahead of Sunday's season opener against the Atlanta Falcons, Pittsburgh Steelers cornerback Joey Porter Jr. spoke to reporters about the status of his contract negotiations, hoping for an agreement to be reached before kickoff. He explicitly dismissed rumors suggesting he demanded to become the NFL's highest-paid cornerback while trying to manage outside expectations about his contract demands.
Despite Porter's efforts to temper expectations, personnel evaluators around the league are skeptical about his true market value. There is a high-stakes standoff in Pittsburgh, with front-office executives questioning whether the 26-year-old cornerback has earned the right to command top compensation alongside the league's elite defensive players.
An in-depth report from The New York Times included a sobering **** sment from a rival AFC executive on Porter's leverage and standing: "Is Joey Porter as good as maybe he values himself? I would **** ume he wants to be on par with Surtain/Horn, maybe even higher. But he isn't at that level as a player. Perhaps the Steelers are willing to accept a compensatory pick or a franchise tag instead of committing to what might be an overestimate."
Watch sports LIVE with fuboTV (free trial)
#steelers #contract
Ahead of Sunday's season opener against the Atlanta Falcons, Pittsburgh Steelers cornerback Joey Porter Jr. spoke to reporters about the status of his contract negotiations, hoping for an agreement to be reached before kickoff. He explicitly dismissed rumors suggesting he demanded to become the NFL's highest-paid cornerback while trying to manage outside expectations about his contract demands.
Despite Porter's efforts to temper expectations, personnel evaluators around the league are skeptical about his true market value. There is a high-stakes standoff in Pittsburgh, with front-office executives questioning whether the 26-year-old cornerback has earned the right to command top compensation alongside the league's elite defensive players.
An in-depth report from The New York Times included a sobering **** sment from a rival AFC executive on Porter's leverage and standing: "Is Joey Porter as good as maybe he values himself? I would **** ume he wants to be on par with Surtain/Horn, maybe even higher. But he isn't at that level as a player. Perhaps the Steelers are willing to accept a compensatory pick or a franchise tag instead of committing to what might be an overestimate."
Watch sports LIVE with fuboTV (free trial)
#steelers #contract
15 days ago
Well STS readers, I come to you this week recovering from an extremely sobering experience last Saturday night. I predicted a fight even in a loss, and if it even qualified as a fight, it resembled Drago vs. Apollo in Rocky IV. Probably an adequate ******* ogy because Apollo USED to be great, but he was no match for the modernized superweapon Drago. Did the Soviets cheat to develop him? Absolutely, but at that point they were doing whatever it took to be superior no matter the morality of it. Clemson fans like me could be heard yelling "throw in the ******* towel!" by maybe the fourth possession of the game. It was that obvious that Clemson was completely and totally outmatched at the lines of scrimmage and the surrounding skill had zero chance because of it on either side of the ball.
How did it come to this? I posted this in a comment on the game review thread and will paste it here as it summarizes what I have painfully allowed myself to realize: "I hate it for Dabo and others who really want to do this the way it is supposed to be done, which is to develop men and grow boys to men and that takes time more often than not. That is what the transfer portal and NIL and lack of tampering control has created and as much as Dabo has tried to evolve I just don't see how he could ever get to what actually has to be done now if you want to be elite. I bet if you begin to track LSU, Ohio State, Texas, etc, going forward, you will see that maybe 50% of their rosters will start and finish with them and the other half will be brought in from elsewhere at some stage of their five-year playing window. Dabo swallows hard just to have the maybe 15% we are up to now that would check that box. I totally understand why, but either Dabo has to let go of that OR Clemson needs a huge break and actual sane rules return to CFB. Otherwise, we are back to 1995 where we might be able to beat ok teams and bad teams but are done beating anyone that is legit top 15 in stature."
I am a Clemson Tiger for life and lived through the lean years between Ford and Dabo. I'll still tune in and attend games when I can, but I know now that something has to give if Clemson is ever going to hope to compete at the highest level and it may get worse before it can get better. I'm still looking for pathways to wins, as many wins as this team can find a way to manage. I agree they are likely better than that product we saw in Baton Rouge, but that is not saying a lot either considering how FCS level the Tigers looked in that game.
I also want to add that I highly recommend gear from our sponsor Section 103. Their polos in particular have already become some of my favorites in the closet.
Do you want to support STS writers? You can do so by supporting our sponsor, Section 103. They deep dive school traditions to create thoughtful designs artfully applied to insanely comfortable tees, polos, hats, and more.Click here to explore.
#apollo
How did it come to this? I posted this in a comment on the game review thread and will paste it here as it summarizes what I have painfully allowed myself to realize: "I hate it for Dabo and others who really want to do this the way it is supposed to be done, which is to develop men and grow boys to men and that takes time more often than not. That is what the transfer portal and NIL and lack of tampering control has created and as much as Dabo has tried to evolve I just don't see how he could ever get to what actually has to be done now if you want to be elite. I bet if you begin to track LSU, Ohio State, Texas, etc, going forward, you will see that maybe 50% of their rosters will start and finish with them and the other half will be brought in from elsewhere at some stage of their five-year playing window. Dabo swallows hard just to have the maybe 15% we are up to now that would check that box. I totally understand why, but either Dabo has to let go of that OR Clemson needs a huge break and actual sane rules return to CFB. Otherwise, we are back to 1995 where we might be able to beat ok teams and bad teams but are done beating anyone that is legit top 15 in stature."
I am a Clemson Tiger for life and lived through the lean years between Ford and Dabo. I'll still tune in and attend games when I can, but I know now that something has to give if Clemson is ever going to hope to compete at the highest level and it may get worse before it can get better. I'm still looking for pathways to wins, as many wins as this team can find a way to manage. I agree they are likely better than that product we saw in Baton Rouge, but that is not saying a lot either considering how FCS level the Tigers looked in that game.
I also want to add that I highly recommend gear from our sponsor Section 103. Their polos in particular have already become some of my favorites in the closet.
Do you want to support STS writers? You can do so by supporting our sponsor, Section 103. They deep dive school traditions to create thoughtful designs artfully applied to insanely comfortable tees, polos, hats, and more.Click here to explore.
#apollo
27 days ago
Matthias Jaissle, by his own admission, "likes challenges" and this was certainly a big one to take on.
Saturday was exactly 30 days since predecessor Eddie Howe oversaw what proved to be his final match in charge, a sobering 4-1 friendly defeat by Bristol City, before stepping down.
Newcastle had sold Sandro Tonali. Anthony Gordon had left for Barcelona. Captain Bruno Guimaraes' sights were set on a move to ***** nal.
The start of the season was also rapidly approaching.
Newcastle have made further additions since then, but only one of their seven summer signings, Nico Gonzalez, has previously played in the Premier League.
#newcastle #howe #city
Saturday was exactly 30 days since predecessor Eddie Howe oversaw what proved to be his final match in charge, a sobering 4-1 friendly defeat by Bristol City, before stepping down.
Newcastle had sold Sandro Tonali. Anthony Gordon had left for Barcelona. Captain Bruno Guimaraes' sights were set on a move to ***** nal.
The start of the season was also rapidly approaching.
Newcastle have made further additions since then, but only one of their seven summer signings, Nico Gonzalez, has previously played in the Premier League.
#newcastle #howe #city
28 days ago
Famous Dex is once again behind bars, this time in Las Vegas on a domestic battery charge.
The Chicago rapper, whose legal name is Dexter Tiewon Gore Jr., was taken into custody Sunday, Aug. 23, and booked on the charge, according to TMZ. As of Tuesday (Aug. 25), he remained in custody at a Las Vegas jail.
The arrest marks a troubling reversal for an artist who had spoken publicly about getting his life in order. As recently as April 2023, Dex told TMZ he was 11 months sober and announced a collaborative album, Rich Forever 5, alongside Rich The Kid and Jay Critch.
The latest charge arrives years after a string of serious legal troubles in California. In late 2020, Dex allegedly physically harmed a woman in October of that year and was involved in a separate November incident in which police responding to a domestic disturbance found a woman with cuts and confronted Dex after he allegedly barricaded himself inside with firearms, prompting a SWAT standoff. Combined with the 2016 emergence of security footage reportedly showing him hitting his girlfriend in a hallway, the three incidents resulted in a total of 19 charges, including domestic violence and gun possession counts. The Los Angeles City Attorney's Office had indicated he faced up to 18 years in prison if convicted on all counts.
COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess.
#years #allegedly
The Chicago rapper, whose legal name is Dexter Tiewon Gore Jr., was taken into custody Sunday, Aug. 23, and booked on the charge, according to TMZ. As of Tuesday (Aug. 25), he remained in custody at a Las Vegas jail.
The arrest marks a troubling reversal for an artist who had spoken publicly about getting his life in order. As recently as April 2023, Dex told TMZ he was 11 months sober and announced a collaborative album, Rich Forever 5, alongside Rich The Kid and Jay Critch.
The latest charge arrives years after a string of serious legal troubles in California. In late 2020, Dex allegedly physically harmed a woman in October of that year and was involved in a separate November incident in which police responding to a domestic disturbance found a woman with cuts and confronted Dex after he allegedly barricaded himself inside with firearms, prompting a SWAT standoff. Combined with the 2016 emergence of security footage reportedly showing him hitting his girlfriend in a hallway, the three incidents resulted in a total of 19 charges, including domestic violence and gun possession counts. The Los Angeles City Attorney's Office had indicated he faced up to 18 years in prison if convicted on all counts.
COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess.
#years #allegedly
29 days ago
Streamer N3on is giving former NBA guard Delonte West more than a financial boost. During a recent livestream, the 21-year-old content creator presented West with $50,000, a new iPhone, streaming equipment, and a verified, monetized Kick channel designed to help him begin earning money immediately.
N3on, whose real name is Mikyle Rafiq, took West shopping for the gear needed to produce his own livestreams. The haul included microphones, a tripod, a portable charger, and other accessories. N3on also offered to help West **** emble everything. "You're gonna be solid on all ends," he told the former basketball player while walking him through the equipment.
The gesture arrives as West continues trying to rebuild his life following years of highly publicized personal struggles. West played eight NBA seasons and earned approximately $16 million during his career, but he later experienced homelessness and repeatedly drew concern after being seen on the streets. The 2004 first-round draft pick played for four NBA franchises, including the Boston Celtics, Cleveland Cavaliers, and Dallas Mavericks.
COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess.
N3on also pushed back against viewers who questioned whether West would sell the equipment or misuse the money. According to the streamer, West has been living in a sober facility and making progress after announcing in March that he had reached 100 days of sobriety.
#streamer #money
N3on, whose real name is Mikyle Rafiq, took West shopping for the gear needed to produce his own livestreams. The haul included microphones, a tripod, a portable charger, and other accessories. N3on also offered to help West **** emble everything. "You're gonna be solid on all ends," he told the former basketball player while walking him through the equipment.
The gesture arrives as West continues trying to rebuild his life following years of highly publicized personal struggles. West played eight NBA seasons and earned approximately $16 million during his career, but he later experienced homelessness and repeatedly drew concern after being seen on the streets. The 2004 first-round draft pick played for four NBA franchises, including the Boston Celtics, Cleveland Cavaliers, and Dallas Mavericks.
COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess.
N3on also pushed back against viewers who questioned whether West would sell the equipment or misuse the money. According to the streamer, West has been living in a sober facility and making progress after announcing in March that he had reached 100 days of sobriety.
#streamer #money
1 month ago
It's just a single report and the words of one person quoted in it, but an outlook by TD Cowen on what broker insurance might do in the wake of the Montgomery decision is sobering.
In a report from the transportation team at TD Cowen led by managing director Jason Seidl, based on a phone call with an unidentified "trucking insurance agency executive," TD Cowen said what it has heard so so far on the looming rise in insurance premiums for brokers due to Montgomery fallout has been enough that "commentary from our call keeps us negative on the brokers."
That negative outlook at TD Cowen is for three companies, TD Cowen said: RXO (NYSE: RXO), C.H. Robinson (NASDAQ: CHRW) and Landstar (NASDAQ: LSTR).
The Montgomery decision from May removed liability and negligence protection for brokers that had been provided by several court decisions involving an interpretation of the Federal Aviation Administration Authorization Act (F4A).
Tripling of premiums
#insurance #call
In a report from the transportation team at TD Cowen led by managing director Jason Seidl, based on a phone call with an unidentified "trucking insurance agency executive," TD Cowen said what it has heard so so far on the looming rise in insurance premiums for brokers due to Montgomery fallout has been enough that "commentary from our call keeps us negative on the brokers."
That negative outlook at TD Cowen is for three companies, TD Cowen said: RXO (NYSE: RXO), C.H. Robinson (NASDAQ: CHRW) and Landstar (NASDAQ: LSTR).
The Montgomery decision from May removed liability and negligence protection for brokers that had been provided by several court decisions involving an interpretation of the Federal Aviation Administration Authorization Act (F4A).
Tripling of premiums
#insurance #call
1 month ago
Cancer is serious. Ryan Reynolds is not. Luckily his characteristic sense of humor, along with being true to his word, has helped shine a light on a sobering topic in a fun way. First, he made a friendly bet with his Welcome to Wrexham co-star Rob McElhenney of It's Always Sunny in Philadelphia with whom he also co-owns the Welsh football club Wrexham A.F.C.
The bet? That McElhenney would not be able to learn Welsh, the official language of Wales, where their soccer team is located. The stakes? If Reynolds lost, he'd have to get a colonoscopy… and post the entire thing to YouTube. About 30 seconds into a YouTube upload **** led "Rob & Ryan Lead From Behind," McElhenney begins speaking in near-fluent Welsh.
Uh-oh. Colonoscopy it is.
Reynolds is an actor famous for hilarious hijinks. From his intense fictional feud with Hugh Jackman to performing epic pranks on talk shows, he is often the best thing on the internet for a good laugh. However, he is also not one to shy away from difficult conversations, particularly when it comes to health. So raising awareness about the importance of colonoscopies was, as he quipped, "enough motivation for me to let you in on a camera being shoved up my **** ."
Reynolds might have lost the bet, but his actions paid off. The procedure turned out to be lifesaving.
#thing
The bet? That McElhenney would not be able to learn Welsh, the official language of Wales, where their soccer team is located. The stakes? If Reynolds lost, he'd have to get a colonoscopy… and post the entire thing to YouTube. About 30 seconds into a YouTube upload **** led "Rob & Ryan Lead From Behind," McElhenney begins speaking in near-fluent Welsh.
Uh-oh. Colonoscopy it is.
Reynolds is an actor famous for hilarious hijinks. From his intense fictional feud with Hugh Jackman to performing epic pranks on talk shows, he is often the best thing on the internet for a good laugh. However, he is also not one to shy away from difficult conversations, particularly when it comes to health. So raising awareness about the importance of colonoscopies was, as he quipped, "enough motivation for me to let you in on a camera being shoved up my **** ."
Reynolds might have lost the bet, but his actions paid off. The procedure turned out to be lifesaving.
#thing
1 month ago
In ancient legend, 300 Spartan warriors held the narrow pass at Thermopylae against a vast, overwhelming force, relying on a critical bottleneck to offset impossible odds. Today, America's energy security is facing its own fateful "300" moment, fought thousands of feet beneath the Gulf Coast.
As crude inventories in the Strategic Petroleum Reserve drain toward their operational limits, America is left, armed with just 300 million barrels. This dwindling buffer forces the nation into a high-stakes standoff against the uncompromising laws of fluid dynamics, immense geological forces, strict federal statutes, and relentless geopolitical pressure.
The SPR is a subsurface engineering marvel. Spanning 60 massive underground salt caverns across four storage sites in Texas and Louisiana, the system holds a combined authorized capacity of 714 million barrels. These solution-mined cavities are gigantic, often 300 feet wide and 2,000 feet tall, large enough to stack the Empire State Building inside.
Because these caverns operate entirely on a liquid displacement system, they can never be left empty. If the fluids were removed without replacement, the immense geological weight of the overlying earth would cause the salt domes to collapse inward like a crushed shield. Consequently, the total volume of fluid inside the reserve must be permanently maintained at 714 million barrels. However, the actual crude oil inventory tells a sobering story. The crude oil volume currently stands at approximately 293 million barrels. The remainder is entirely heavy salt brine used to push the oil out. Operating below this 300-million-barrel threshold pushes the aging infrastructure into uncharted and hazardous territory.
According to the Department of Energy, the absolute physical minimum crude oil inventory is approximately 70 million barrels. This cushion is required at the very top of the caverns to keep the extraction pipes safely submerged in oil rather than the underlying water. But while 70 million barrels is the structural floor where the salt rock might physically hold together, the practical operational floor is much higher, around 250 million barrels.
#energy
As crude inventories in the Strategic Petroleum Reserve drain toward their operational limits, America is left, armed with just 300 million barrels. This dwindling buffer forces the nation into a high-stakes standoff against the uncompromising laws of fluid dynamics, immense geological forces, strict federal statutes, and relentless geopolitical pressure.
The SPR is a subsurface engineering marvel. Spanning 60 massive underground salt caverns across four storage sites in Texas and Louisiana, the system holds a combined authorized capacity of 714 million barrels. These solution-mined cavities are gigantic, often 300 feet wide and 2,000 feet tall, large enough to stack the Empire State Building inside.
Because these caverns operate entirely on a liquid displacement system, they can never be left empty. If the fluids were removed without replacement, the immense geological weight of the overlying earth would cause the salt domes to collapse inward like a crushed shield. Consequently, the total volume of fluid inside the reserve must be permanently maintained at 714 million barrels. However, the actual crude oil inventory tells a sobering story. The crude oil volume currently stands at approximately 293 million barrels. The remainder is entirely heavy salt brine used to push the oil out. Operating below this 300-million-barrel threshold pushes the aging infrastructure into uncharted and hazardous territory.
According to the Department of Energy, the absolute physical minimum crude oil inventory is approximately 70 million barrels. This cushion is required at the very top of the caverns to keep the extraction pipes safely submerged in oil rather than the underlying water. But while 70 million barrels is the structural floor where the salt rock might physically hold together, the practical operational floor is much higher, around 250 million barrels.
#energy
1 month ago
[Getty Images]
Premier League history was made before a ball was even kicked this season as a record nine clubs started the campaign with new managers.
Former Bournemouth boss Andoni Iraola got his first taste of action as Liverpool manager after succeeding sacked Arne Slot.
So how did he fare on an eventful first weekend of the 2026-27 campaign?
Iraola was spared the ignominy of defeat in his first Premier League game since succeeding Slot by Dominik Szoboszlai's 99th-minute penalty - but this was a sobering fact-finding mission for the new man in charge at Anfield.
#images
Premier League history was made before a ball was even kicked this season as a record nine clubs started the campaign with new managers.
Former Bournemouth boss Andoni Iraola got his first taste of action as Liverpool manager after succeeding sacked Arne Slot.
So how did he fare on an eventful first weekend of the 2026-27 campaign?
Iraola was spared the ignominy of defeat in his first Premier League game since succeeding Slot by Dominik Szoboszlai's 99th-minute penalty - but this was a sobering fact-finding mission for the new man in charge at Anfield.
#images
1 month ago
Charlie Sheen was known for some of his outrageous behaviour during his career, which even saw him get fired from hit sitcom Two and a Half Men, yet as the star has gotten older, he's been determined to be a good father to his five children.
Charlie cited his children as one of the main reasons he chose to get sober. Speaking to People in December 2023, he reflcted: "One morning I'd forgotten my daughter had an appointment I'd promised to drive her to, and I'd already had a couple of pops that day.
"So [I] had to call my friend Tony to take us. We got her there on time, but it broke my heart because she was in the backseat and I could just tell she was thinking, 'Why isn't dad driving?' So I got home and sat with that for the rest of the day. And the next morning I just stopped."
HELLO! takes a closer look at the lives of Charlie Sheen's five children...
Martin Sheen and his granddaughter Cassandra Estevez arriving at the 57th Annual Golden Globe Awards
#five
Charlie cited his children as one of the main reasons he chose to get sober. Speaking to People in December 2023, he reflcted: "One morning I'd forgotten my daughter had an appointment I'd promised to drive her to, and I'd already had a couple of pops that day.
"So [I] had to call my friend Tony to take us. We got her there on time, but it broke my heart because she was in the backseat and I could just tell she was thinking, 'Why isn't dad driving?' So I got home and sat with that for the rest of the day. And the next morning I just stopped."
HELLO! takes a closer look at the lives of Charlie Sheen's five children...
Martin Sheen and his granddaughter Cassandra Estevez arriving at the 57th Annual Golden Globe Awards
#five
1 month ago
The Phoenix Mercury were officially eliminated from playoff contention after falling 97-87 to the Atlanta Dream on Saturday, Aug. 22, at Mortgage Matchup Center.
Alyssa Thomas posted her third triple-double of the season with 11 points, 16 rebounds and 10 ****** ists, while Kahleah Copper had 38 points.
The Mercury were down by as many as 16 points in the third quarter before outscoring the Dream by 10 points and shooting 59.1% (13-of-22). Copper made all but two of her nine shots and scored 18 of the Mercury's 33 points in the stretch.
"Right now, we're playing for pride, and I think all of us are disappointed with how the year has gone," coach Nate Tibbetts said. "The second half (against Atlanta), you can lay your head down tonight and know that you competed and played with passion and to our standard. You just can't give in, and I thought in the second half, we responded and played in a manner that you can feel good about."
However, the loss came with the sobering reminder of Phoenix's shortcomings in 2026. One season after making the WNBA Finals, the Mercury (13-24) underwhelmed in their follow-up. Tibbetts pointed out that early injuries, defensive struggles and a lack of 3-point shooting contributed to the season's early end.
#dream #Third
Alyssa Thomas posted her third triple-double of the season with 11 points, 16 rebounds and 10 ****** ists, while Kahleah Copper had 38 points.
The Mercury were down by as many as 16 points in the third quarter before outscoring the Dream by 10 points and shooting 59.1% (13-of-22). Copper made all but two of her nine shots and scored 18 of the Mercury's 33 points in the stretch.
"Right now, we're playing for pride, and I think all of us are disappointed with how the year has gone," coach Nate Tibbetts said. "The second half (against Atlanta), you can lay your head down tonight and know that you competed and played with passion and to our standard. You just can't give in, and I thought in the second half, we responded and played in a manner that you can feel good about."
However, the loss came with the sobering reminder of Phoenix's shortcomings in 2026. One season after making the WNBA Finals, the Mercury (13-24) underwhelmed in their follow-up. Tibbetts pointed out that early injuries, defensive struggles and a lack of 3-point shooting contributed to the season's early end.
#dream #Third
1 month ago
The 2026 Dutch Grand Prix sprint race provided McLaren with plenty of data, but it also delivered a sobering realization: Ferrari might currently possess the fastest race car on the grid.
While McLaren continues to fight at the front of the pack, Team Principal Andrea Stella was quick to single out Charles Leclerc's Sprint performance as the ultimate benchmark for long-run speed around Zandvoort.
Ferrari raised eyebrows across the paddock when they sent Leclerc to the Sprint grid on a used set of soft tires, bypassing the standard medium compound favored by the majority of the field.
However, Stella acknowledged that the Italian squad's aggressive strategy was rooted in hard data. "When we saw Leclerc starting on a used soft, we thought that that was quite ambitious, but eventually the information they got through the running in practice will have given them the confidence to do so," Stella told the media.
Leclerc's ability to manage the softer rubber over the course of the Sprint confirmed the ominous pace Ferrari had demonstrated earlier in the weekend. "I think the lap times of Ferrari in continuous laps that they showed during practice one, they were the best, and probably in the race Leclerc was still the best in terms of pace," Stella noted.
#stella #race #grid
While McLaren continues to fight at the front of the pack, Team Principal Andrea Stella was quick to single out Charles Leclerc's Sprint performance as the ultimate benchmark for long-run speed around Zandvoort.
Ferrari raised eyebrows across the paddock when they sent Leclerc to the Sprint grid on a used set of soft tires, bypassing the standard medium compound favored by the majority of the field.
However, Stella acknowledged that the Italian squad's aggressive strategy was rooted in hard data. "When we saw Leclerc starting on a used soft, we thought that that was quite ambitious, but eventually the information they got through the running in practice will have given them the confidence to do so," Stella told the media.
Leclerc's ability to manage the softer rubber over the course of the Sprint confirmed the ominous pace Ferrari had demonstrated earlier in the weekend. "I think the lap times of Ferrari in continuous laps that they showed during practice one, they were the best, and probably in the race Leclerc was still the best in terms of pace," Stella noted.
#stella #race #grid
1 month ago
Brian Hickerson's second attempt to clear felony domestic violence convictions involving Hayden Panettiere was denied three days before the actress died, after prosecutors challenged representations that he was now sober.
At an Aug. 13 hearing in Los Angeles, the prosecution cited a May interview Hickerson gave about his past relationship with Panettiere and alleged that he appeared to be under the influence of a stimulant. Court records obtained by PEOPLE show prosecutors also pointed to his 2025 encounters with law enforcement while opposing the petition.
Hickerson had asked the court to dismiss two felony convictions for corporal injury to a spouse or cohabitant from a domestic violence case in which Panettiere was a victim. Judge Olivia Rosales rejected the request, saying Hickerson had not remained free of new offenses.
The hearing took place three days before Panettiere died at age 36 in Greenville, South Carolina. Her death remains under investigation, and authorities have not established any connection between the allegations raised during Hickerson's court hearing and the circumstances of her death.
The interview cited in court was conducted by TMZ's Charlie Neff in May, ahead of the publication of Panettiere's memoir, This Is Me: A Reckoning. In the original TMZ interview, Hickerson discussed Panettiere's account of their abusive relationship and acknowledged conduct described in the book, including an incident in which he threatened her with a phone. "I did it. I did it," Hickerson said while discussing that episode.
#hickerson #panettiere #hearing
At an Aug. 13 hearing in Los Angeles, the prosecution cited a May interview Hickerson gave about his past relationship with Panettiere and alleged that he appeared to be under the influence of a stimulant. Court records obtained by PEOPLE show prosecutors also pointed to his 2025 encounters with law enforcement while opposing the petition.
Hickerson had asked the court to dismiss two felony convictions for corporal injury to a spouse or cohabitant from a domestic violence case in which Panettiere was a victim. Judge Olivia Rosales rejected the request, saying Hickerson had not remained free of new offenses.
The hearing took place three days before Panettiere died at age 36 in Greenville, South Carolina. Her death remains under investigation, and authorities have not established any connection between the allegations raised during Hickerson's court hearing and the circumstances of her death.
The interview cited in court was conducted by TMZ's Charlie Neff in May, ahead of the publication of Panettiere's memoir, This Is Me: A Reckoning. In the original TMZ interview, Hickerson discussed Panettiere's account of their abusive relationship and acknowledged conduct described in the book, including an incident in which he threatened her with a phone. "I did it. I did it," Hickerson said while discussing that episode.
#hickerson #panettiere #hearing
1 month ago
Anna Faris is opening up about her decision to stop drinking alcohol and the impact it has had on her mental health.
The "Scary Movie" actress, 49, revealed that she got sober after recognizing a connection between drinking and her struggles with depression. Faris discussed her relationship with alcohol during the Aug. 20 episode of Chelsea Handler's "Dear Chelsea" podcast, where the two reflected on how their drinking habits have changed as they've gotten older.
"It turns out there's a correlation between drinking and depression, for me, for sure," Faris said. "I had to take a step back and not self-sabotage."
Handler agreed, adding that as people get older, their bodies may not be able to process alcohol the same way they did when they were younger.
Anna Faris reveals Melania Trump joke cut from 'Scary Movie 6'
#alcohol #anna #Chelsea
The "Scary Movie" actress, 49, revealed that she got sober after recognizing a connection between drinking and her struggles with depression. Faris discussed her relationship with alcohol during the Aug. 20 episode of Chelsea Handler's "Dear Chelsea" podcast, where the two reflected on how their drinking habits have changed as they've gotten older.
"It turns out there's a correlation between drinking and depression, for me, for sure," Faris said. "I had to take a step back and not self-sabotage."
Handler agreed, adding that as people get older, their bodies may not be able to process alcohol the same way they did when they were younger.
Anna Faris reveals Melania Trump joke cut from 'Scary Movie 6'
#alcohol #anna #Chelsea
1 month ago
There's one question that every type of U.S. Open fan is asking, from die-hard tennis wonks to executives who control corporate entertainment expenses:
What's up with these ticket prices?
A quick glance at the fourth Grand Slam of the year's website this week reveals sobering numbers for the first big day of action on Monday, Aug. 31.
A grounds pass with no guaranteed seat on any court — stadium or otherwise — is going for over $360. The face value is $65.
An upper-deck seat in Arthur Ashe Stadium costs $326.
#open #slam
What's up with these ticket prices?
A quick glance at the fourth Grand Slam of the year's website this week reveals sobering numbers for the first big day of action on Monday, Aug. 31.
A grounds pass with no guaranteed seat on any court — stadium or otherwise — is going for over $360. The face value is $65.
An upper-deck seat in Arthur Ashe Stadium costs $326.
#open #slam
1 month ago
In February 2026, mortgage rates fell below 6% for the first time in three and a half years, briefly pushing housing affordability to its most favorable level since 2022, FreddieMac reported.
That window of relief evaporated within weeks, as rates climbed back toward 6.5% and have stayed above 6% ever since.
A detailed ****** ysis from Morgan Stanley offers a sobering look at why that brief dip in mortgage rates may have been as good as it gets for homebuyers.
The firm's research team modeled affordability under three mortgage rate environments, and none shows conditions returning to pre-2022 levels.
Sarah Wolfe, a senior economist and strategist at Morgan Stanley Wealth Management, examined what happens to affordability when mortgage rates settle at 4%, 5%, or 6%.
#affordability #since
That window of relief evaporated within weeks, as rates climbed back toward 6.5% and have stayed above 6% ever since.
A detailed ****** ysis from Morgan Stanley offers a sobering look at why that brief dip in mortgage rates may have been as good as it gets for homebuyers.
The firm's research team modeled affordability under three mortgage rate environments, and none shows conditions returning to pre-2022 levels.
Sarah Wolfe, a senior economist and strategist at Morgan Stanley Wealth Management, examined what happens to affordability when mortgage rates settle at 4%, 5%, or 6%.
#affordability #since
1 month ago
Patricia Heaton has revealed the moment that led her to go sober, explaining it left her "mortified".
The Everybody Loves Raymond alum's daily wine habit turned into problematic drinking during a period of her life when her usual routine had been disrupted.
"My children had left home and I wasn't working. The things that had always anchored me - my family and my work - were gone," Patricia, 68, told Woman's World magazine. "I started thinking, 'What am I supposed to do today?'"
The actress, whose sitcom credits also include The Middle, recalled how her drinking habits slowly escalated.
"A glass of wine while cooking became wine with dinner, wine while cleaning up and wine while watching Wheel of Fortune and Jeopardy!," she explained. "One night I realised I had almost finished an entire bottle by myself."
At that point, Patricia said, she knew something had shifted in her attitude to drinking, and she turned to religion in hopes of finding an answer.
#drinking
The Everybody Loves Raymond alum's daily wine habit turned into problematic drinking during a period of her life when her usual routine had been disrupted.
"My children had left home and I wasn't working. The things that had always anchored me - my family and my work - were gone," Patricia, 68, told Woman's World magazine. "I started thinking, 'What am I supposed to do today?'"
The actress, whose sitcom credits also include The Middle, recalled how her drinking habits slowly escalated.
"A glass of wine while cooking became wine with dinner, wine while cleaning up and wine while watching Wheel of Fortune and Jeopardy!," she explained. "One night I realised I had almost finished an entire bottle by myself."
At that point, Patricia said, she knew something had shifted in her attitude to drinking, and she turned to religion in hopes of finding an answer.
#drinking
1 month ago
After seven years of much-publicized sobriety, Brad Pitt earlier this month told Esquire that he is "back off the wagon." Given that Pitt has spent the last few years publicly volunteering information about his alcohol use and subsequent sobriety, his casual revelation that he now drinks "in a more restrained manner" raised more than a few eyebrows and spurred a wave of headlines.
Initially, I was wary of commenting on the news. Brad Pitt's sobriety is none of my business. But I'm also a sober journalist who writes a newsletter about addiction recovery; whether or not a person with a history of alcohol addiction can moderate their alcohol use after a period of sobriety is among the most frequent questions I receive.
Whether or not a person with a history of alcohol addiction can moderate their alcohol use after a period of sobriety is among the most frequent questions I receive.
Given that Pitt has repeatedly spoken publicly about his struggles with alcohol and subsequent sobriety, discussing the latest development feels like fair game.
The story also raises a second issue worth exploring: the redemptive recovery narrative as public image rehabilitation.
#sobriety #given #subsequent
Initially, I was wary of commenting on the news. Brad Pitt's sobriety is none of my business. But I'm also a sober journalist who writes a newsletter about addiction recovery; whether or not a person with a history of alcohol addiction can moderate their alcohol use after a period of sobriety is among the most frequent questions I receive.
Whether or not a person with a history of alcohol addiction can moderate their alcohol use after a period of sobriety is among the most frequent questions I receive.
Given that Pitt has repeatedly spoken publicly about his struggles with alcohol and subsequent sobriety, discussing the latest development feels like fair game.
The story also raises a second issue worth exploring: the redemptive recovery narrative as public image rehabilitation.
#sobriety #given #subsequent
2 months ago
Brad Pitt initially quit drinking in 2016
The F1 actor said he joined a 12-step program following his divorce from Angelina Jolie
In August 2026, Pitt revealed he was "sober for seven years" before getting "back off the wagon"
After years of sobriety, Brad Pitt has made a change.
The Oscar-winning actor gave up drinking in 2016, following his split from ex-wife and Mr. and Mrs. Smith costar Angelina Jolie. Three years later, he shared he was sober in a profile for The New York Times.
#years #drinking #sober
The F1 actor said he joined a 12-step program following his divorce from Angelina Jolie
In August 2026, Pitt revealed he was "sober for seven years" before getting "back off the wagon"
After years of sobriety, Brad Pitt has made a change.
The Oscar-winning actor gave up drinking in 2016, following his split from ex-wife and Mr. and Mrs. Smith costar Angelina Jolie. Three years later, he shared he was sober in a profile for The New York Times.
#years #drinking #sober
2 months ago
Kaia Gerber has made a rare comment about her brother Presley Gerber's addiction battle.
In an interview for the September 2026 issue of U.S. Vogue magazine, the model-actress opened up about her older sibling's issues, which the journalist labelled a "decade-long struggle with drug addiction".
Kaia and Presley are the children of supermodel Cindy Crawford and entrepreneur Rande Gerber.
"My parents for most of our lives were very, very private and didn't share anything - and now we have this absolute teacher, my brother, who says, 'I'm gonna be very human for everyone,'" she told the outlet. "There's only so much you can hide from the world. And trying to put a lid on something just makes the person feel like you're ashamed of them."
Last December, Presley, 27, revealed he had been prescribed medication for his mental health and had been sober since July 2025.
And Kaia acknowledged that she often attempted to be the "easy one" for her parents.
#kaia #presley #gerber #brother
In an interview for the September 2026 issue of U.S. Vogue magazine, the model-actress opened up about her older sibling's issues, which the journalist labelled a "decade-long struggle with drug addiction".
Kaia and Presley are the children of supermodel Cindy Crawford and entrepreneur Rande Gerber.
"My parents for most of our lives were very, very private and didn't share anything - and now we have this absolute teacher, my brother, who says, 'I'm gonna be very human for everyone,'" she told the outlet. "There's only so much you can hide from the world. And trying to put a lid on something just makes the person feel like you're ashamed of them."
Last December, Presley, 27, revealed he had been prescribed medication for his mental health and had been sober since July 2025.
And Kaia acknowledged that she often attempted to be the "easy one" for her parents.
#kaia #presley #gerber #brother
2 months ago
Many of Hollywood's sober stars have spoken openly about their journeys to sobriety with the public.
Jamie Lee Curtis, Dax Shepard and Anthony Hopkins, for example, are among the celebrities who have been sober for decades. The latter actor penned a memoir **** led We Did OK, Kid that chronicled his career and "the low points in his personal life," including his addiction, in 2025 — the same year that he celebrated 50 years of sobriety.
Fight Club actor Brad Pitt, meanwhile, stopped drinking for seven years and recently revealed that he is no longer sober, explaining he now drinks alcohol "in a more restrained manner."
"I got overconfident a couple times, went, Yep, nope, not good for me," he said in an August 2026 interview with Esquire. "Not in big quantities."
Here are 13 celebrities who have opened up about their sobriety over the years.
#years #many
Jamie Lee Curtis, Dax Shepard and Anthony Hopkins, for example, are among the celebrities who have been sober for decades. The latter actor penned a memoir **** led We Did OK, Kid that chronicled his career and "the low points in his personal life," including his addiction, in 2025 — the same year that he celebrated 50 years of sobriety.
Fight Club actor Brad Pitt, meanwhile, stopped drinking for seven years and recently revealed that he is no longer sober, explaining he now drinks alcohol "in a more restrained manner."
"I got overconfident a couple times, went, Yep, nope, not good for me," he said in an August 2026 interview with Esquire. "Not in big quantities."
Here are 13 celebrities who have opened up about their sobriety over the years.
#years #many
2 months ago
Brad Pitt's latest revelation is putting a surprising moment from Taylor Swift's wedding back in the spotlight.
Let's dial it back to Swift and Travis Kelce's July 3 wedding, which Pitt and his girlfriend, Ines de Ramon, attended. A Page Six source revealed that they were "shocked" when they saw the Heart of the Beast star drinking at the event. The insider, along with most of Pitt's fans, had been under the impression that he was sober.
More from SheKnows
Brad Pitt Opens Up About 'Family Stuff' After A Source Warned His Kids 'Have A Lot They Could Reveal'
That's why the 62-year-old's admission in his Esquire interview suddenly made sense — Pitt is drinking again. "I was sober for seven years. And then I got back off the wagon," Pitt revealed on August 10. "In a more restrained manner. I got overconfident a couple times, went, 'Yep, nope, not good for me.' Not in big quantities."
#source #revealed #sober #swift
Let's dial it back to Swift and Travis Kelce's July 3 wedding, which Pitt and his girlfriend, Ines de Ramon, attended. A Page Six source revealed that they were "shocked" when they saw the Heart of the Beast star drinking at the event. The insider, along with most of Pitt's fans, had been under the impression that he was sober.
More from SheKnows
Brad Pitt Opens Up About 'Family Stuff' After A Source Warned His Kids 'Have A Lot They Could Reveal'
That's why the 62-year-old's admission in his Esquire interview suddenly made sense — Pitt is drinking again. "I was sober for seven years. And then I got back off the wagon," Pitt revealed on August 10. "In a more restrained manner. I got overconfident a couple times, went, 'Yep, nope, not good for me.' Not in big quantities."
#source #revealed #sober #swift
2 months ago
Brad Pitt ended his sobriety after seven years and now drinks alcohol in moderation, in an Aug. 10 interview
The actor initially quit drinking in 2016 after his split from Angelina Jolie and entered a 12-step program
Pitt has been open about his sobriety journey over the years
Brad Pitt is no longer sober.
Speaking with Esquire for a profile published Monday, Aug. 10, the 62-year-old actor — who previously revealed he joined a 12-step program following his split from ex-wife Angelina Jolie — shared that he decided to end his sobriety from alcohol after seven years.
#sobriety #years #angelina
The actor initially quit drinking in 2016 after his split from Angelina Jolie and entered a 12-step program
Pitt has been open about his sobriety journey over the years
Brad Pitt is no longer sober.
Speaking with Esquire for a profile published Monday, Aug. 10, the 62-year-old actor — who previously revealed he joined a 12-step program following his split from ex-wife Angelina Jolie — shared that he decided to end his sobriety from alcohol after seven years.
#sobriety #years #angelina
2 months ago
Brad Pitt is drinking again in moderation after spending seven years completely sober.
The Oscar-winning actor and producer, 62, spoke about his relationship with alcohol in a new interview published Monday.
"No, I got—I was sober for seven years. And then I got back off the wagon," Pitt told Esquire. "In a more restrained manner. I got overconfident a couple times, went, Yep, nope, not good for me. Not in big quantities."
He added that he can "have a few" glasses of wine, saying, "But I can't have a lot. I have to be professional about it."
Pitt first cut out drinking in 2016 following his highly publicized split from Angelina Jolie, with whom he shares children Maddox, 24, Zahara, 21, Pax, 22, Shiloh, 20, Knox, 18, and Vivienne, 18.
#Monday
The Oscar-winning actor and producer, 62, spoke about his relationship with alcohol in a new interview published Monday.
"No, I got—I was sober for seven years. And then I got back off the wagon," Pitt told Esquire. "In a more restrained manner. I got overconfident a couple times, went, Yep, nope, not good for me. Not in big quantities."
He added that he can "have a few" glasses of wine, saying, "But I can't have a lot. I have to be professional about it."
Pitt first cut out drinking in 2016 following his highly publicized split from Angelina Jolie, with whom he shares children Maddox, 24, Zahara, 21, Pax, 22, Shiloh, 20, Knox, 18, and Vivienne, 18.
#Monday
2 months ago
Brad Pitt is opening up about his ever-changing relationship with alcohol.
"I was sober for seven years. And then I got back off the wagon," the movie star, 62, told Esquire in an interview published Monday, August 10. "In a more restrained manner. I got overconfident a couple times, went, Yep, nope, not good for me. Not in big quantities."
The interviewer stated, "You can have a glass of wine," to which Pitt explained he still needs to be careful: "Yeah. Well . . . I can have a few. But I can't have a lot. I have to be professional about it."
The two-time Oscar winner first talked about his sobriety in a May 2017 interview with GQ magazine, about eight months after then-wife Angelina Jolie filed for divorce from him in September 2016.
MEGA
#esquire #august #yeah
"I was sober for seven years. And then I got back off the wagon," the movie star, 62, told Esquire in an interview published Monday, August 10. "In a more restrained manner. I got overconfident a couple times, went, Yep, nope, not good for me. Not in big quantities."
The interviewer stated, "You can have a glass of wine," to which Pitt explained he still needs to be careful: "Yeah. Well . . . I can have a few. But I can't have a lot. I have to be professional about it."
The two-time Oscar winner first talked about his sobriety in a May 2017 interview with GQ magazine, about eight months after then-wife Angelina Jolie filed for divorce from him in September 2016.
MEGA
#esquire #august #yeah
2 months ago
Brad Pitt has admitted that he has broken his sobriety after seven years without drinking.
The Fight Club star, 62, has admitted that he has started drinking again, but insisted he is doing so in a more "restrained manner".
During a new interview with Esquire, published on Monday, Pitt explained that he has had to learn his limits since returning to alcohol.
"I was sober for seven years," he said. "And then I got back off the wagon."
The actor continued by explaining that he has been drinking in a more controlled way and has recognised when he has gone too far.
"In a more restrained manner. I got overconfident a couple times, went, Yep, nope, not good for me," he told the publication. "Not in big quantities."
#seven #years #brad
The Fight Club star, 62, has admitted that he has started drinking again, but insisted he is doing so in a more "restrained manner".
During a new interview with Esquire, published on Monday, Pitt explained that he has had to learn his limits since returning to alcohol.
"I was sober for seven years," he said. "And then I got back off the wagon."
The actor continued by explaining that he has been drinking in a more controlled way and has recognised when he has gone too far.
"In a more restrained manner. I got overconfident a couple times, went, Yep, nope, not good for me," he told the publication. "Not in big quantities."
#seven #years #brad
2 months ago
Katey Sagal, who's been sober since 1986, says her life was small back then.
The Married... With Children actress notes that she never could have imagined where she's at now.
The 72-year-old currently stars on Futurama.
Actress Katey Sagal has a "pretty big" life these days.
But that wasn't always true before she got sober in 1986, just before she began her portrayal of Peg Bundy on Married... With Children.
#katey #sagal #life
The Married... With Children actress notes that she never could have imagined where she's at now.
The 72-year-old currently stars on Futurama.
Actress Katey Sagal has a "pretty big" life these days.
But that wasn't always true before she got sober in 1986, just before she began her portrayal of Peg Bundy on Married... With Children.
#katey #sagal #life
2 months ago
Karen Huger reveals that Andy Cohen was one of her biggest supporters while she was in prison.
At the premiere of Real Housewives of Ultimate Girls Trip: Roaring 20th, Huger shared that Cohen spoke with her as she was behind bars, expressing her excitement to reconnect with her Bravo family.
"Bravo stood by me when I went through a lot," Huger told E! News. "And I often credit the courage that I had from the training I had as a Housewife to make it through and to get sober and to be clean."
"Andy was one of the few people that I allowed to talk to me inside while I was paying my dues," she continued.
"He was so lovely and so supportive," Huger added. "I adore him. I love him. I am so happy to be a part of his team and his family."
#cohen #family #ultimate
At the premiere of Real Housewives of Ultimate Girls Trip: Roaring 20th, Huger shared that Cohen spoke with her as she was behind bars, expressing her excitement to reconnect with her Bravo family.
"Bravo stood by me when I went through a lot," Huger told E! News. "And I often credit the courage that I had from the training I had as a Housewife to make it through and to get sober and to be clean."
"Andy was one of the few people that I allowed to talk to me inside while I was paying my dues," she continued.
"He was so lovely and so supportive," Huger added. "I adore him. I love him. I am so happy to be a part of his team and his family."
#cohen #family #ultimate
2 months ago
The pharmaceutical giant sent shareholders a fortune in cash, yet the stock itself fell far behind the market. Here is the honest accounting of what owners actually got.
For an income investor holding Pfizer (PFE) stock, which trades around $25 a share, the last five years have posed a sharp question. The company returned an extraordinary $49 billion to shareholders through dividends and buybacks. That figure, equal to 34% of its current market value, is a gusher of cash by any standard. But over that same period, the stock's total return was -21%, while the S&P 500 delivered an +81% gain. The paradox is the whole story: the company showered owners with cash while the stock lagged. Was holding worth it, and is it now?
The machine behind the payout is a large pharmaceuticals business with $63.31 billion in revenue over the last twelve months. Its operating margin of 25% runs well ahead of the 18.4% median for the S&P 500, generating the substantial free cash flow needed to fund shareholder returns. Of the $49 billion returned over five years, the vast majority, $47 billion, came from dividends, with a smaller $2.0 billion spent on share repurchases.
This dividend focus is a core part of the company's stated strategy. Management recently affirmed its commitment, stating on its latest earnings call, "We intend to maintain and over time, grow our dividend as we continue to de-lever and build long-term value." For shareholders, this has meant a steady stream of checks from a business built for scale.
While the checks were generous, the total return figure tells a sobering story. The -21% return already includes reinvested dividends; the stock's price performance was significantly worse. The market has been pricing the stock not on its past cash generation, but on its future challenges. The honest catch is the looming patent cliff, what the industry calls loss of exclusivity (LOE). Management recently sized this headwind at "$14 billion to $15 billion" in annual revenue at risk.
#billion #cash #behind
For an income investor holding Pfizer (PFE) stock, which trades around $25 a share, the last five years have posed a sharp question. The company returned an extraordinary $49 billion to shareholders through dividends and buybacks. That figure, equal to 34% of its current market value, is a gusher of cash by any standard. But over that same period, the stock's total return was -21%, while the S&P 500 delivered an +81% gain. The paradox is the whole story: the company showered owners with cash while the stock lagged. Was holding worth it, and is it now?
The machine behind the payout is a large pharmaceuticals business with $63.31 billion in revenue over the last twelve months. Its operating margin of 25% runs well ahead of the 18.4% median for the S&P 500, generating the substantial free cash flow needed to fund shareholder returns. Of the $49 billion returned over five years, the vast majority, $47 billion, came from dividends, with a smaller $2.0 billion spent on share repurchases.
This dividend focus is a core part of the company's stated strategy. Management recently affirmed its commitment, stating on its latest earnings call, "We intend to maintain and over time, grow our dividend as we continue to de-lever and build long-term value." For shareholders, this has meant a steady stream of checks from a business built for scale.
While the checks were generous, the total return figure tells a sobering story. The -21% return already includes reinvested dividends; the stock's price performance was significantly worse. The market has been pricing the stock not on its past cash generation, but on its future challenges. The honest catch is the looming patent cliff, what the industry calls loss of exclusivity (LOE). Management recently sized this headwind at "$14 billion to $15 billion" in annual revenue at risk.
#billion #cash #behind
