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...JB Hunt, which is a big old capital-intensive diesel-burning trucking company that owns its own trucks, earned 11 per cent (and that was its worst year in more than two decades; trucking is in a slump)....
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...The closely watched financial metric fell to 17.4 per cent, down from a peak of 29.1 per cent in the first quarter of 2022....
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...The latest data suggest 4 per cent to 5 per cent wage growth, compared to a pre-pandemic 3 per cent to 4 per cent....
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...The founder of Nikola Motors — who still owns 4.4 per cent of the company — has nominated five dissident directors to its board in an apparent attempt to regain influence over a company he was ousted from...
...Mentioned in this podcast: Eurozone inflation falls to 2.4% in March Chinese companies revive Mao Zedong-era militias Where Tesla departs from the Mag 7 The big worry for carmakers: what if the EV slowdown...
...The S&P 500 is up 4 per cent year to date....
...Apple shares were down 4 per cent....
...Some 4.7bn people are expected to take to the skies in 2024, according to the International Air Transport Association. That is 200mn more than the pre-pandemic high set in 2019....
...The big-tech-and-falling-rates story gave way in recent months to the big-tech-and-AI narrative, and AI is an area where Apple is considered to lag Google and Microsoft....
...A growing list of big ticket acquisitions in recent years should raise eyebrows....
...Alphaville’s quantitative analysis suggests $262,069 minus $258,039 is $4,030 — ergo, that’s the maximum amount of pizza/pizza-adjacent perks Weiner could have received....
...Punters, more excitable than economists, sent Chipotle shares 4.5 per cent higher in the two days following its announcement, well ahead of the market....
...John Thornhill responds Like you, Ed, I’m a big fan of Tyler’s writing. Given his previous stance, it’s fascinating to see how he’s suddenly got AI religion. But my response would be: not so fast....
...Meanwhile, the median stock, out of the 4,700 traded in the US, is down....
...The valuation looks a bit nutty: 80% of revenue is [Apple’s] hardware yet the stock trades on a software multiple; UBS, even in 2027, forecasts just 4.3% FCF yield....
...“One of the big trends that is occurring now is taking these core model portfolios and tailoring them for clients....
..., down 4 per cent compared with the same period a year earlier....
...We est. the value of the Services LOB (est. 1/4 of core revenues) at about 4/5 of Citi’s market cap ($75B vs $99B as of Dec. 29, 2023) assuming a P/E of 12-13x on 2024E earnings of $6B....
...Over a one-year horizon, the authors estimate QT raises long-dated bond yields by 4-8bp. This partly stems from when they are used....
...The world’s largest money manager reported a 36 per cent year-on-year jump in net income to $1.57bn in its fiscal first quarter, on an 11 per increase in revenue to $4.7bn....
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...And she paid me $4.25 extra.”...
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