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Every morning
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Tuesday recap
Heritage Commerce Corp reported a strong deposit surge of $160.7 million in Q4 2025, with 95% of the growth coming from non‑maturity accounts, while loan balances slipped $37 million due to higher payoffs. Net interest margin rose to 3.44% as funding costs fell, even though loan‑portfolio yield dipped slightly after the Fed’s rate cuts. Credit quality remained solid, with non‑accrual loans at 0.09% of total and the tangible common equity ratio climbing to 9.3%. Management reaffirmed guidance for 5‑8% annualized loan growth and highlighted a $460 million commercial loan pipeline.
Arcutis Biotherapeutics reported record Q4 2025 results, with net product revenue of $127.5 million, an 84% year‑over‑year increase, and full‑year revenue up 123% to $372.1 million. Management raised its 2026 net product revenue guidance to $480‑$495 million, citing strong prescription growth, expanded Medicare...
FuelCell Energy announced a sweeping restructuring that shifts resources to its proven molten carbonate platform while pausing broader solid‑oxide R&D, aiming to cut operating expenses by 30% versus FY2024. The company posted GAAP revenue of $37.4 million, narrowed its operating loss...
Ideal Power Inc. reported a Q4 2025 earnings call highlighting a multiyear strategic cooperation with Lazen, a letter of intent with an Asian power‑module maker, and progress on a Stellantis purchase order for EV‑related B‑TRAN devices. The company raised $12.6 million...
Heritage Insurance Holdings (HRTG) posted Q4 2025 revenue of $357 million, a 19% year‑over‑year increase, driven by strong written‑premium growth and an 80% surge in Marketplace revenue. Adjusted EBITDA rose 97% to $57 million and net income jumped 238% to $29 million, helped...
LightPath Technologies reported Q4 FY2025 revenue of $12.2 million, a 41 % year‑over‑year rise, while its backlog surged to $90 million—four times the level just months earlier. The company secured more than $40 million of infrared camera orders for 2026‑27, driven by a single...
Wrise Wealth Management has partnered with Bangkok‑based brokerage IFCG to launch a joint wealth‑management platform for Thai investors. The alliance combines Wrise’s institutional‑grade technology and global investment access with IFCG’s network of over 400 advisers and deep local distribution. It...
Zevra Therapeutics reported Q3 2025 net revenue of $26.1 million, driven primarily by $22.4 million from its FDA‑approved NPC therapy MyPlayFa. The company narrowed its net loss to $0.5 million, a dramatic improvement from a $33.2 million loss a year earlier, while cash and...
NL Industries reported Q4 2025 net sales of $104.7 million and full‑year revenue of $422.2 million, with adjusted EBITDA reaching $12.9 million in the quarter and $49.0 million for the year. The company completed a major portfolio transformation, exiting low‑margin automotive parts and expanding...
Repay Holdings reported a robust fourth‑quarter 2021, with card payment volume surging 43% year‑over‑year and total revenue climbing 50% to $62.2 million. The company’s 2021 acquisitions—BillingTree, Kontrol Payables, and Payix—contributed roughly $14 million of incremental revenue and bolstered gross profit, which rose...
Global Business Travel Group (GBTG) posted a strong Q4 2025, reporting $10 billion total transaction value—a 45% jump—and $792 million revenue, up 34% year‑over‑year. Adjusted EBITDA rose 17% to $130 million, while free cash flow reached $104 million for the full year. AI‑driven digital...
ACCO Brands reported full‑year net sales of $600 million, a 4.4% increase, driven by a 7% rise in U.S. revenue that now represents two‑thirds of the business. Q4 sales matched guidance at $164 million, but gross margin slipped in the quarter as...
Yelp reported record $1.46 billion net revenue for 2025, a 4% year‑over‑year increase driven by strong services advertising and AI‑powered product launches. Advertising revenue from services rose 8% while the Restaurants‑Retail‑Other segment fell 6%, reflecting continued macro pressure. The company posted...
Editas Medicine reported Q2 2024 progress on its gene‑edited cell therapy reni‑cel, presenting interim data from the RUBY sickle‑cell and EdiTHAL beta‑thalassemia trials. All 18 RUBY patients were free of vaso‑occlusive events, with hemoglobin levels above 14 g/dL and fetal hemoglobin exceeding...
MYR Group reported record 2025 revenue of $3.7 billion, a 17% jump in Q4, and a historic quarterly net income of $37 million. Gross margin rose to 11.4% and operating margins improved across both Transmission & Distribution and Commercial & Industrial segments....
Negative supply shock will lead to price increases & the only way to correct that if supply doesn’t rise is, well, demand destruction. We are headed towards demand destruction if the conflict doesn’t end by Day 14. Today is Day 10....
The ongoing Iran war is intensifying the Bank of Japan’s stagflation dilemma, forcing a choice between raising rates or maintaining ultra‑low policy for longer. Core inflation excluding food and energy fell further below the BOJ’s 2% target in January, while...
Asia‑Pacific property investors are entering 2026 with a cautiously firmer outlook, shifting capital toward sectors that still offer supply constraints and structural demand. A new CBRE survey shows data‑centre assets have become mainstream, attracting the strongest investor interest across the...
On Liberation Day, we created a Long/Short basket (dollar neutral) meant to capitalize on any fears of stagflation due to Tariffs. That wasn’t our expectation, however. We wrote “The likely result…the administration declares victory, and most tariffs eventually come down...
Oil prices have surged past the $100 per barrel mark, with West Texas Intermediate climbing above $108 and Brent exceeding $107, reflecting a 16‑18% rise since the start of the year. The jump is driven by escalating war risks in...
$105/bbl A few months ago many said this would never happen. Never bet against inflationary assets in an inflationary era. Deglobalization is structural no cyclical. Watch food prices next. In a world of extreme inequality, with a Fed that needs lower rates to keep...
If the front-month WTI crude oil future matches natural gas’s 100% gain in 2026 to its January peak, it would reach about $115 a barrel -- then what by the midterms? Gas has reversed all of those gains. Spiking crude can be...
DBS is urging Singapore‑based SMEs to hedge at least half of their foreign‑exchange exposure amid heightened volatility from the Middle‑East conflict. The bank’s SecureFX facility, which lets companies lock in rates up to US$1 million without credit lines, is already used...
Brent prompt futures opened above $108 per barrel on NYMEX, marking a notable price surge. The rally is driven by OPEC+ output cuts, lingering Middle East tensions, and a weakening dollar that favors commodities. Analysts warn the $108 level could...
May be starting to move in to a market of instead of buy grains and soy for an inflationary trade into sell grains and soy in a “risk off” everywhere type of trade. Gold and silver are sure not...
"A true compounder reinvests cash flows at rates above its cost of capital." Most investors chase growth. The best investors chase compounding. A true compounder does one thing exceptionally well: it reinvests cash flows at returns higher than its cost of capital.
[looks at Brent curve] Gary Gorton voice: "investors can earn a risk premium by buying distant commodity futures at a discount to spot"
Isn't it likely that countries in fiscal distress find it hard to borrow, have to pay high default premia, and run down their reserves like everything else?
According to @Polymarket, there is a 64% chance of average US gas prices surpassing $4.50/gallon this month. THE WINDS OF WAR = HIGHER GASOLINE PRICES = MORE AFFORDABILITY PROBLEMS FOR TRUMP. https://t.co/yN19wtznw8
Left is a still unfilled gap in S&Ps from Jan 1, 2013 Will another gap in S&Ps become unfilled? Just asking for a friend. https://t.co/cNPv8XxpVb
The war’s not stopping because of some pain at the American pump. The implications for global fertilizer markets (ammonia, sulphur) are probably going to be as big of a deal as the energy disruptions in several months. Asian economies are in...
We've been saying for weeks now that the odds of a banana peel sell off was high. It simply is that time of year and now it is happening. Lot of fear out there, but more weakness into mid-March would...
Oil futures over $100, which is going to shock folks — but I’m old enough to remember $140-150 peaks in the past (inflation adjusted) Only upside, is that folks will lean into EVs and solar if this lasts more than...
Small caps down more than 3% because 1.) Inflation is a much bigger worry than a week ago and no cuts are coming? 2.) Sell the winners? 3.) Lucy https://t.co/3gsriv02Qd
Asia supply of oil, gas & fertiliser is rather concentrated. We are seeing a massive supply shock to the most important input of modern life: food and transport.
Hey energy experts, what's the lag, in days, from a change in wholesale gasoline futures to retail (AAA average) prices? And what's a good rule of thumb on the spread/mutiple between the two? (Answer in DM's if you prefer.)
Join us today in an X Space for X Subscribers: 🚨Hormuz Chaos: Brent Blasts Past $110 — What's Next for Oil?🚨 Today, Sunday, March 8, 9:00 PM US EST, 8:00 PM US CST No link now. Will open the Space on time.
WTI crude has shot up as much as 21.7% immediately after the Asia session open. We are well above $100/barrel. #Oil #OilPrices #IranWar2026 https://t.co/vC2re37nrC
Oil prices opened about 20% higher in Asia on Monday. Brent crude near $110 now. Risk assets are in for a terrible session today https://t.co/iLDxgMZZxb
If you go back you will see that I did. This is the chart I alerted members to my private X service to three weeks ago https://t.co/ebO2QwWczT
Behold, the global economy cracking. Brent crude approaching $110/bbl, up >$16 higher since Friday’s close. https://t.co/exH8mOBUXy
If Crude Oil does what the chart indicates might be possible, then airlines are headed for a world of hurt. I would not want to be long airline stocks this coming week $CL_F For all you fancy-pants newbie chartists, this is called...
Oil prices surge another 13% to $100 a barrel, after the biggest weekly gain since 1993
The turmoil is already hitting Americans’ wallets. Regular gasoline across the U.S. costs 46 cents a gallon more than it did a week ago, according to AAA, while diesel has become 83 cents more expensive @WSJmarkets @DavidUberti https://t.co/QZd9ArOPkx
And US100 hits the 200 DMA...400 pts from Friday's note issued 10 mins after NFP (time is GMT) https://t.co/bdLsTvTejL
Hey @chigrl How common is it to see WTI>Brent and what does it signify please? “West Texas Intermediate surged as much as 15% to $104.61 a barrel at the open after last week adding a record 36%. Brent climbed above $102.” @business
Oil futures surge above $100 for the first time since 2022 🚨 🛢️ Brent contract jumps more than 10% as the conflict in the Middle East continues https://t.co/KgPOv96YdC
NQ drops 200 points on the open with a wide gap WTI above $100 for first time since 2022 24,000 will likley tested as sentiment sours over expanding conflict in Iran Prepare to hear doomsday all day long on talking head TV
Crude >$100 I’d say here we go, but honestly can’t believe we’re still going. https://t.co/14yKcmsMOq
WTI > $104 RBOB not up as much, but it crossed $3.. implying $3.95 at the pump in due time. https://t.co/yLhu2NxY1C
