Today's Stock Investing Pulse
Devon Energy’s $8B Marcellus Asset Offer Signals Aggressive Growth Post-Merger
Devon Energy completed its merger with Coterra, creating a larger diversified oil and gas operator. Stone Ridge Asset Management has signaled an $8 billion opening offer for Devon’s Marcellus assets, and the combined company expects to lift its dividend by roughly 30%.
TESLA Q1 Was Confusing. Technical and Business Decoding Is Required
Tesla’s Q1 2026 report showed rising free cash flow, expanding margins and an earnings beat, but investors were spooked by higher capital expenditures and the absence of a firm timeline for scaled unsupervised robotaxis. Full Self‑Driving (FSD) subscriptions jumped to roughly 500,000, aided by a price cut to $49 per month. The company delivered 358,023 vehicles against 408,386 produced, with a sales outlook near 370,000 units. Energy‑storage deployments slipped to 8.8 GWh, down from 14.2 GWh the prior quarter.
Client Exits Led to 24% Outperformance and 62% AUM Growth
last april, during the tariff tantrum, equity + trend fell -25% vs S&P 500's -16%. a client fully redeemed. to paraphrase, "I feel bad for you guys; you'll be out of business soon." since then, stocks + trend beat the S&P...
The Great Un-Bundling: How Maturing Indian Markets Are Shrugging Off Concentration
The National Stock Exchange’s April Market Pulse report shows Indian equities shifting from a commodity‑led base to financial‑sector dominance, with financials now accounting for 25% of market capitalisation. Materials and energy shares have receded, while information technology grew to 8%...
Business Models Flip: Old Advice Now Obsolete
The world is turning upside down. We have media companies being bought at crazy levels, which didn't used to happen. SaaS company margins and market caps are plummeting. Services businesses are getting 70% plus margins and are commanding premiums. Everything that...
Reliance Retail Q4 Profit Flat at Rs 3,563 Cr
Reliance Retail posted a marginal 0.5% rise in profit after tax to Rs 3,563 crore (≈$429 million) for the March quarter, while gross revenue jumped 10.84% to Rs 98,232 crore (≈$11.8 billion). The retailer expanded its footprint with 333 new stores in the quarter, reaching a...
Blackstone’s Deep Discount Offers Big Upside for Patient Investors
Blackstone is trading at a deep discount, but the fear might be overpriced. With $90B in liquidity and a $170B war chest, patient investors could win big. 📉➡️📈 Blackstone
3 Stocks to Buy From the Prospering Semiconductor Industry
The semiconductor sector is riding a wave of AI, generative AI, IoT and industrial‑4.0 adoption, delivering a 17.7% year‑to‑date gain that outpaces the S&P 500. Zacks ranks the industry in the top 35 % of more than 250 groups, with a forward...
Dividends Aren’t Passive: Investors Overpay for Illusion
My conversation with Samuel Hartzmark (@SamHartzmark), who may be the most knowledgeable person on irrational investor behavior related to dividends. We cover: • 𝗙𝗿𝗲𝗲 𝗗𝗶𝘃𝗶𝗱𝗲𝗻𝗱𝘀 𝗙𝗮𝗹𝗹𝗮𝗰𝘆 - Dividends are 𝘯𝘰𝘵 passive income • 𝗝𝘂𝗶𝗰𝗶𝗻𝗴 - Mutual funds purchase stocks before dividend payments to...
J.P. Morgan Upgrades Taiwan, Tech to Overweight; Cuts India to Neutral Amid AI Surge and Stagflation
J.P. Morgan raised its Asia equity allocation, upgrading Taiwan and the broader technology sector to overweight while cutting India to neutral. The bank lifted Taiwan index targets to 48,000 (base) with bear and bull cases at 36,000 and 43,000, citing a...
![[NEW] Cliff Note #140: From Bust to Boom: A Founder-Led Microcap Riding the Inventory Unwind](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://substackcdn.com/image/fetch/$s_!vD14!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F063eafec-fa90-4003-8987-7401ddb62ff2_512x512.png)
[NEW] Cliff Note #140: From Bust to Boom: A Founder-Led Microcap Riding the Inventory Unwind
The European distribution sector experienced a four‑year boom‑bust cycle, with distributors over‑ordering during COVID, then halting purchases as inventory piled up to 6‑12 months. A leading European player succumbed to creditors in 2024 after a €100 million (≈$108 million) loss, and peers...
Morgan Stanley's Cynical Intel Call Misses Major Upside
MS is taking a L on their post-earnings note on Intel.. I get some of the risk reward debate, but cmon. "We have missed a large move here at EW, and we aren't trying to be stubborn - we just remain...
Beyond Growth: Prioritizing Moats and Quality in AI
I'm always baffled how most investors seem to obsess over top revenue growth numbers these days and seem to take that as a universal prediction of future success in AI. Maybe we're finally starting to get back to more sanity...
StockTA's Steuer: Market's Rally Has It Due for a Pause, Awaiting Clarity
The episode explores why the recent market rally may be pausing, with Kevin Stewart of StockTA citing heightened geopolitical risks, oil price volatility, and inflation concerns that have pushed him out of equities more than any time since COVID. Guests...
Fiduciary Management, Inc.’s Q1 2026 Investor Letter
Fiduciary Management, Inc. (FMI) released its Q1 2026 investor letter, noting that the Iran war triggered a sharp sell‑off in global equities. The S&P 500 fell 4.33% and MSCI World dropped 3.57%, while the Russell 2000 and MSCI EAFE slipped 0.89% and 1.24% respectively....
Broker’s Call: Fortis Healthcare (Buy)
Motilal Oswal initiates coverage on Fortis Healthcare with a Buy rating, setting a target of ₹1,100 (≈ $13) versus the current price of ₹928.10 (≈ $11). Since IHH Healthcare took over in FY‑19, the hospital chain has cleaned up its balance sheet,...
Michael Burry Adds a New Microsoft Bet, Doubles Down on Software
Investor Michael Burry disclosed a new long position in Microsoft, adding to his recent builds in MSCI, PayPal and Adobe. He argues that deep price declines—Microsoft down 25%, PayPal 37% and Adobe 54%—have created oversold opportunities in software and fintech....
Mahindra Finance Q4 Profit Jumps 55%, FY26 Earnings up 19%
Mahindra Finance posted a 55% jump in Q4 FY26 profit after tax, reaching ₹873 crore (≈ $105 million) versus ₹563 crore a year earlier. Disbursements rose 11% to ₹17,184 crore (≈ $2.06 billion) and assets under management grew 12% to ₹1.34 lakh crore (≈ $16.1 billion). Net interest margin expanded by...
Jefferies Updates Elevance Health, Inc. (ELV) Forecasts After Deeper Analysis of Exchange Segment Dynamics
Jefferies analyst David Windley trimmed Elevance Health’s (ELV) price target to $391 from $395, citing a deeper review of the health‑insurance exchange segment. The revision accompanies updated financial forecasts that reflect refined assumptions about managed‑care plan dynamics. In March, Elevance...
Jefferies Adjusts The Cigna Group (CI) Target Lower After Health Insurance Exchange Review
Jefferies reaffirmed its Buy rating on Cigna (CI) but trimmed its price objective from $333 to $330 after a detailed review of Health Insurance Exchange plan offerings, signaling a modest valuation adjustment for the managed‑care giant. The Cigna Foundation simultaneously...
Bio-Rad Laboratories, Inc. (BIO) PT Reduced to $300 by Citigroup Amid Process Chromatography Concerns
Citigroup lowered Bio‑Rad Laboratories’ (NYSE:BIO) rating from Buy to Neutral on April 7, cutting its price target to $300 from $375. The downgrade stems from doubts that the company’s process chromatography segment can regain strong growth or margin expansion, a key...
Inspire Medical Systems, Inc. (INSP) PT Reduced to $64 as Truist Updates MedTech Outlook Ahead of Q1
Truist Financial trimmed its price target for Inspire Medical Systems (INSP) to $64 from $70, while keeping a Hold stance, as part of a broader MedTech outlook ahead of the company’s Q1 earnings. A day earlier, Royal Bank of Canada...
Listed Tanker Stocks – Full Ahead or Full Astern?
Tanker equities are caught in a sharp analyst split as the Strait of Hormuz remains closed. BTIB’s Greg Lewis upgraded DHT, Frontline and International Seaways to Buy, citing VLCC spot rates of $100k‑$200k per day and an anticipated global oil...
Earnings Growth Offsets P/E Drops, Yields Positive Returns
The resilience and even acceleration in earnings has kept the recent decline to single digits instead of the nearly 20% drawdown in the forward P/E ratio. The earnings & valuation chart below shows the various noteworthy episodes when earnings are growing...
Procter & Gamble Tops Estimates on Solid Sales Growth
Procter & Gamble reported fiscal Q3 results that beat Wall Street forecasts, with net sales climbing 7% to $21.24 billion and organic sales up 3%. The company achieved a 2% rise in unit sales, the first annual increase in twelve months,...
Opportunity: April 2026
The April 2026 Opportunity Report spotlights a niche firm that outperforms peers in a rapidly expanding market. The company boasts gross margins above 60%, capex under 1% of sales, and a net‑cash balance sheet. Its founders retain over 40% ownership...
DIY Investing Surge in Canada Sparks Investor Risk Concerns
A sharp increase in self‑directed investing among Canadians is prompting industry experts to warn that many newcomers may be making costly errors. The trend reflects the appeal of low‑cost platforms, but regulators and wealth managers say the lack of professional...
Wedbush Keeps Outperform on SoundHound AI After $43 M LivePerson Deal
SoundHound AI announced an all‑stock acquisition of LivePerson valued at $43 million, a 22% premium, and an enterprise value of roughly $250 million. Wedbush reaffirmed its Outperform rating with a $12 12‑month target, noting the deal creates a massive data foundation and...
Digital Realty Q1 2026 Earnings Show 16% Revenue Jump as AI Data‑center Demand Surges
Digital Realty reported Q1 2026 revenue of $1.635 billion, up 16.2% year‑over‑year, and core FFO per share of $2.04, a 15% increase. The company highlighted a $707 million annualized leasing book, driven by a record 200 MW AI inference lease and a 40%...
German Government Halves 2024 Growth Forecast as Energy Shock Deepens
German Economy Minister Katherina Reiche cut the 2024 GDP growth outlook by half to just 0.5%, warning that soaring energy prices and a volatile Middle‑East conflict are weighing on households and industry. The downgrade raises fresh concerns for German equities...
SAP Q1 2026 Earnings Beat EPS but Miss Revenue, Shares Slide 6.2%
SAP SE posted a modest earnings per share beat of $1.92 versus $1.91 forecast, yet revenue fell short at $11.04 billion versus $11.17 billion expected. The mixed results sparked a 6.19% drop in the ADR to $166.22, highlighting investor concern over a...
Intel Shares Surge on AI‑Driven Sales Outlook, Reach 2000‑Era Peaks
Intel reported a 22% year‑over‑year jump in datacenter AI revenue and projected Q2 sales of $13.8‑$14.8 billion, sending the stock sharply higher and reviving confidence in its AI‑focused turnaround plan.
Beyond the Headlines: Where Federated Hermes Sees Real Opportunity in the Asia Ex-Japan Region
Federated Hermes highlights a compelling investment case across the Asia ex‑Japan region, focusing on deep‑value opportunities in China, a multi‑year re‑rating in South Korea, and contrarian upside in Thailand. The firm points to record‑low price‑to‑earnings multiples in China, single‑digit P/E...
Former Dividend Aristocrat AT&T Posts Strong Earnings, Tries to Win Back Investors
AT&T posted a strong Q1 2026, delivering $0.57 earnings per share and $31.51 billion in revenue, both beating analyst forecasts. The company highlighted a record fixed‑broadband performance and the acquisition of Lumen’s Mass Markets fiber business, which will add millions of new...
3 Top Refining & Marketing MLPs to Buy for Growth Ahead
Zacks highlights three refining and marketing master limited partnerships—Global Partners LP, Suburban Propane LP, and CrossAmerica Partners LP—as top growth picks. The sector enjoys diversified revenue streams, essential fuel demand, and a Zacks Industry Rank in the top 10% of...
Most Bursa Malaysia Stocks Undervalued; Regulator's Fix Doubtful
Six in ten stocks on Bursa Malaysia trade below book value. Some are worth less than the CASH sitting on their balance sheets. The SC just released a master plan to fix this. It probably won’t.
Next Africa: Could Dangote's IPO Transform Investing? (Podcast)
Aliko Dangote's conglomerate is preparing a roughly $10 billion initial public offering, the biggest ever on an African exchange. The Bloomberg podcast examines how the listing could reshape capital flows into the continent and set a new valuation benchmark for local...
High ROE Signals Quality, Not Just Profit
Buffett doesn't just look at how much a company earns. He looks at how much it earns on the equity it was given. Any business can grow by throwing cash at problems. A great business grows by not needing to. High ROE isn't a...
Procter & Gamble Gave the Market What It Wanted: A Reason to Buy
Procter & Gamble reported a stronger‑than‑expected fiscal Q3, with net revenue of $21.24 billion, up 7.3% year‑over‑year, and earnings of $4 billion. The results eased earlier concerns about tariffs, FX headwinds and margin pressure, pushing the stock 1.65% higher to $148.11. Robust...
MarineMax Posts Fiscal Q2 Loss on 15 Percent Same-Store Tumble
MarineMax reported a fiscal Q2 loss, with revenue slipping to $527.4 million, a 16% decline from the prior year. Same‑store sales fell 15%, pushing net loss to $2.6 million, or $0.12 per share. The company offset weaker boat sales with growth in...
CiDi 2025 Report Brings Insights Into Mining Truck Autonomy Growth & Challenges
CiDi Inc., a Hong Kong‑listed autonomous haulage system (AHS) player, posted 2025 revenue of roughly US$124 million, up 115% from the prior year, while gross profit rose to about US$26.5 million. Despite the top‑line surge, the firm recorded a larger net loss,...
25% All‑
BofA on Asset Allocation: - The “sleep like a baby” portfolio (25% Stocks/Bonds/Commodities/Cash) is having the best year since *1933*. - Up 26% YTD, its third-best outperformance versus 60/40 (Stocks/Bonds) in a *century*. - Commodities have shined, despite remaining a significant underweight in...
Human Interaction Beats AI in Investment Edge
AI is great to supplement the investment process, but it's funny how the simple things are still incredibly useful. For example, listening live and/or participating live on earnings calls (versus reading the transcript later), talking to management 1x1, visiting management...
Ovzon Posts Record EBITDA, Profit, Wins Dept of War
Fixed & mobile satcom provider @OvzonAB reports record EBITDA, swing to profit and return of @DeptofWar as customer. Compact T-8 on-the-move terminal to be released this year.https://t.co/KCEgWGNMlj https://t.co/y5pCk21go1
QCOM Poised for Lift with New DC CPU Launch
$QCOM should get a boost from launching a DC CPU. A much needed one. 💪🏻
Barrick 2026 Outlook: Slight Gold Dip, Stronger H
Barrick Mining $B. One of the world's largest gold mining companies with significant copper production. 2026 Guidance (from early 2026):Gold production: 2.90 – 3.25 Moz (slightly below 2025; H1 lighter, H2 stronger). Copper: 190–220kt. 1.9% dividend yield. https://t.co/17ZfOMzQfk
Hecla Mining Guides Lower 2026 Silver Output, Eyes 20 Moz Growth
Hecla Mining $HL. Operates key mines like Greens Creek (Alaska — one of the world's top silver mines), Lucky Friday (Idaho), and Keno Hill (Yukon). 2026 Guidance: Lower silver output (15.1–16.5 Moz) due to grade changes, but still...
Newmont Posts Record $3.1B Free Cash Flow, Beats Earnings
Newmont Corp $NEM. World's largest gold mining company by production. Record quarterly free cash flow: $3.1 billion. Strong production & earnings beat. Addtl $6 billion share repurchase authorization. Maintained full-year production guidance (~5.3M oz gold). https://t.co/udBcCySTek
May Gains >5% Signal Strong Year-Long Returns
We shared this last year, but amazing how well it played out. Historically, no month sees better future returns when it is up >5% than May. Up 19.9% a year later and never lower. https://t.co/HxIeQFLYDa
Intel Sentiment Surges: More Buys, Higher 2026 Target
Wall Street Research on Intel $INTC 2026 Stock at $84 Buys: 17 Holds: 31 Sells: 4 2022 stock at $24 Buys: 11 Holds: 20 Sells: 12 *Bloomberg ANR data.
Balanced 25/25/25/25 Portfolio Yields 26% YTD
BofA Hartnett: “sleep like a baby” 25/25/25/25 stock/bonds/cash/commodity portfolio tracking 26% YTD, best year since ‘33 https://t.co/NCGhsf54CS