AI CapEx is the largest area of year-over-year cash use growth, followed by research and development.
> up 42% year-over-year > accelerating from 22% Buybacks, on the other hand, are out of favor. 🧐 > Falling to just 1% year-over-year > Had been up 6% Source: Markets & Mayhem
GAMESTOP CEO COHEN SAYS OFFERING TO BUY EBAY FOR $56B: WSJ
Cohen offering $56B for $EBAY, or a 20% premium to the closing price on Friday. He already has a 5% stake Offer is $125 / share in cash and stock. He has a letter from TD Bank to provide $20B in debt financing. According to Cohen: “There is nobody who is more qualified, based on my experience, to run the eBay business," "It could be a legit competitor to Amazon," Source: Negligible Capital
The Pentagon just announced 15,000 service members, guided-missile destroyers, over 100 aircraft, and unmanned platforms deployed to the Strait of Hormuz. Operation begins Monday morning.
Meanwhile, a senior U.S. official then told CNN, on the record, that Project Freedom "is NOT an escort mission." The Wall Street Journal said the same. The administration is calling it a coordination framework. Governments talking to insurance companies talking to shipping firms. 15,000 troops. 100 hundred aircraft. Guided-missile destroyers. Coordination framework??? really? Source: Brian Allen
Factset notes that Mag-7 GAAP earnings growth for Q1 is now expected to come in at an astounding +61.0% up from 22.4% at the end of the quarter
(March 31st) with 4 of the top 5 contributors to SPX earnings growth coming from this cohort (Alphabet, NVIDIA, Amazon and Meta, the other is Micron) That said, Factset notes that the three of those who have reported though each were boosted by one-time non-cash items: "The (GAAP) EPS actual for Alphabet for Q1 2026 included a net gain of $37.7 billion primarily due to net unrealized gains on non-marketable equity securities. The (GAAP) EPS actual for Amazon.com for Q1 2026 included pre-tax gains of $16.8 billion included in non-operating income from investments in Anthropic. The (GAAP) EPS actual for Meta Platforms for Q1 2026 included an $8.03 billion income tax benefit." Source: Factset, Neil Sethi
Berkshire Hathaway $BRK.A has now dumped stocks for 14 consecutive quarters, the longest selling streak in its history
Source: Barchart, FT
There is a manufacturing boom underway in America.
Source: Anthony Pompliano
World's Most Cash Rich Companies
Source: The Market Mind
The German investment bank said it sees a scenario where central banks continue to increase their gold holdings as a financial safety net to protect themselves from Western sanctions.
These central banks have added over 225 million ounces to their reserves since the 2008 financial crisis, while their holdings of US dollars have fallen from a peak of over 60% in the early 2000s to about 40% today. Gold’s share of global central bank reserves could reach 40%, up from 30% currently, the bank predicts. At that allocation, Deutsche Bank ran a simulation that projects gold prices to hit $8,000 an ounce within five years, a near 80% rise on current levels. Source: Wall Street Mav
