KOLKATA: Hundreds of worried fans of ailing Bollywood megastar Amitabh Bachchan today performed a yagna here to pray for his speedy recovery.

“We are using the auspicious occasion of Maha Shivratri to pray to Lord Shiva to help him recover painlessly from his health problems,” Sourav Banerjee of Amitabh Bachchan Fans Association of Kolkata, told.

Dressed in traditional attires, hundreds of fans carrying the actor’s posters thronged the Ekdaliya Evergreen Park in the afternoon for the hour-long yagna.

Ever since the news of Big B’s health problems broke, his admirers here, who have also built a temple for him in south Kolkata, have been a worried lot.

“We have been praying for his health and well-being ever since and are constantly monitoring media reports on his health,” Banerjee said.

Another of his fan blamed the actor’s “workaholic nature” for his medical condition.
“He has delivered hits after hits all his career and at this age of his life his body needs rest,” said 32-year-old Goutam Basak adding that they are planning a gala celebration when the superstar returns home from hospital. On February 11, 69-year-old Bachchan underwent an abdominal surgery but after he complained of acute pain, his stay at the hospital had to be extended.

Currently recuperating at the Seven Hills hospital, Big B’s health is now said to be improving.

NEW YORK — Shares of ServiceTitan Inc. climbed more than 5% Friday morning, reaching around $78.60, after the cloud-based software provider for home service trades delivered a solid earnings beat and raised its full-year guidance, signaling continued momentum in its core markets.

The move reflects investor enthusiasm for the company’s execution amid strong demand for digital tools that help plumbing, electrical, HVAC and other contractors manage operations more efficiently. ServiceTitan, which went public in 2025, has positioned itself as a leader in vertical software for the trades industry, benefiting from ongoing digitization trends.

ServiceTitan reported fiscal first-quarter 2027 revenue of $268.8 million, exceeding expectations, with earnings per share of $0.37 compared to consensus estimates around $0.19. The results marked a significant improvement from the prior year and highlighted robust subscription growth and operational leverage.

The company also lifted its fiscal 2027 outlook, boosting confidence among analysts who responded with upward revisions to price targets. Multiple firms, including Piper Sandler, BTIG and Morgan Stanley, maintained positive ratings while increasing their targets, with some reaching as high as $124.

Earnings Highlights and Business Momentum

ServiceTitan’s platform helps small and medium-sized businesses streamline scheduling, dispatching, invoicing, marketing and customer relationship management. First-quarter performance underscored accelerating adoption, with notable strength in subscription revenue and improving gross margins.

The beat-and-raise quarter comes as the home services sector continues to digitize, driven by labor shortages, rising customer expectations for quick responses and the need for better financial visibility. ServiceTitan’s software addresses these pain points, offering an end-to-end solution that integrates with field operations.

Analysts noted the results demonstrated durable growth despite a challenging macroeconomic backdrop for some discretionary spending. The company’s focus on recurring revenue provides visibility and resilience, key attributes for software investors.

Analyst Reactions and Price Target Increases

Piper Sandler maintained an Overweight rating and raised its price target from $100 to $115. BTIG kept a Buy rating and lifted its target from $90 to $110. Morgan Stanley held its Overweight rating while increasing its target from $118 to $124.

These revisions reflect optimism about ServiceTitan’s ability to capture market share in a large, fragmented industry. The trades software market remains underpenetrated, offering substantial runway for a platform like ServiceTitan.

Commentary from the earnings call emphasized AI-enhanced features and product innovations that further differentiate the offering. Management highlighted customer retention rates and expansion opportunities within existing accounts as drivers of future growth.

Company Background and Market Position

ServiceTitan serves thousands of businesses across North America, powering operations for contractors who often run complex, mobile workforces. Its platform has become a go-to solution for companies seeking to compete with larger players through technology.

Since its IPO, the stock has experienced volatility typical of growth-oriented software names, but consistent execution has helped build a loyal investor base. The current rally brings shares well above recent lows while remaining below all-time highs reached in 2025.

The home services industry, valued in the hundreds of billions, continues to evolve with technological adoption. Factors such as an aging housing stock, energy efficiency demands and consumer preference for seamless experiences create tailwinds for specialized software providers.

Broader Industry and Economic Context

ServiceTitan operates in a favorable environment where small businesses increasingly invest in digital transformation to improve efficiency and customer satisfaction. Rising labor costs and technician shortages have made scheduling and dispatching software essential rather than optional.

While interest rate sensitivity remains a factor for growth stocks, ServiceTitan’s focus on essential services provides some insulation compared to more discretionary tech segments. The company’s performance contrasts with broader market rotation seen Friday, where some high-valuation names faced pressure.

Analysts project continued revenue expansion in the mid-20% range for the full year, supported by new customer additions and upsell opportunities. Path to profitability and cash flow generation will be key metrics to watch in coming quarters.

Outlook and Strategic Initiatives

With the raised guidance, ServiceTitan enters the second half of fiscal 2027 with positive momentum. Management expressed confidence in its product roadmap, including enhanced analytics, mobile capabilities and potential international expansion.

Investors will monitor customer acquisition costs, churn rates and sales cycle lengths as indicators of competitive positioning. Partnerships with industry associations and hardware providers could further accelerate growth.

The stock’s reaction Friday underscores the market’s reward for clear execution and forward-looking commentary. Short interest, while notable, has not prevented positive sentiment from driving gains on strong fundamentals.

Investor Considerations

For those following the name, ServiceTitan represents exposure to a resilient vertical software market with significant scale potential. Valuation metrics have moderated from peak levels, offering a more balanced risk-reward profile for growth investors.

Risks include competition from other platforms, economic slowdowns affecting contractor spending and execution challenges as the company scales. However, the first-quarter results and outlook suggest management is navigating these dynamics effectively.

As ServiceTitan continues to innovate and expand its footprint, the stock could remain in focus for software and small-cap growth portfolios. Friday’s trading volume was elevated as the market digested the earnings details and analyst commentary.

The company’s progress highlights broader trends in digital transformation across traditional industries. For the trades sector, tools like ServiceTitan are helping modernize operations and drive productivity gains that benefit both businesses and consumers.

Market participants will watch upcoming quarters for sustained momentum and further margin improvement. With a strong start to fiscal 2027, ServiceTitan appears well-positioned to capitalize on its market opportunity in the years ahead.

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4D Molecular Therapeutics, Inc. (FDMT) Jefferies Global Healthcare Conference 2026 June 3, 2026 3:10 PM EDT

Company Participants

David Kirn – Co-Founder, President, CEO & Director
Chris Simms

Conference Call Participants

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Faisal Khurshid – Jefferies LLC, Research Division

Presentation

Faisal Khurshid
Jefferies LLC, Research Division

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All right. Good afternoon, everyone. Thank you to those of you in the room and those dialed in on the webcast. My name is Faisal Khurshid. I’m one of the Senior Biotech Analysts here at Jefferies. Really pleased to have with us the management team of 4D Molecular Therapeutics. 4D is a super interesting company working on gene therapies for the masses with a lead-program and approach in wet AMD. So we have with us today David Kirn, CEO; Kristian Humer, CFO; and Chris Simms, Chief Commercial and Chief Business Officer. So with that, David, could I ask you to please start by introducing the company?

David Kirn
Co-Founder, President, CEO & Director

Yes. Thanks for having us. It’s a pleasure to be here. I think we’re going without slides today. Is that correct?

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David Kirn
Co-Founder, President, CEO & Director

Great. So, we’re a next-generation AAV gene therapy company with a lead product, 4D-150 for wet AMD and diabetic eye disease. Our underlying technology is directed evolution, which is a Nobel Prize-winning technology that allows us to invent best-in-class vectors that have the features that we want for large-market products like 4D-150. So, it’s been a powerful platform for us. It’s allowed us to invent and develop 4D-150, which expresses the industry-leading anti-VEGF aflibercept, but does it in a continuous fashion, 24 hours a day, 7 days a week. It right in the back of the retina, right on site where it’s needed.

So we think this is fundamentally a

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That’s right, business is booming. Who do you think creates jobs? That’s a serious question. The answer is not consumer spending, which is what 99% of overeducated economists and media types will tell you. It’s business that creates jobs. And by the way, jobs are booming.172,000 in May. Last three months 188,000 average. April and March revised up 93,000. All these results are twice as much as predicted, but the point I want to make is that jobs are not created from thin air. They are created by profitable moneymaking businesses, large or small.

And the important part about Trumpian economic policy is that as a former businessman, he knows how the American economic engine really works. So he has given business significant supply-side tax relief for 100% depreciation, and dropping the corporate tax, and low small business taxes. And that bet is paying off big time.

And here’s another key point. Even with the Iran war temporary bump up of inflation, wages are still beating prices. For all workers over the past year, average hourly earnings are up 3.4% and aggregate hours worked up 0.9%. You must add them together to get total wage income compensation – most economists and journalists don’t, so they are wrong – but that gives you 4.3% wage income and that is still higher than the temporarily inflated 3.8% CPI. The unemployment rate is 4.3%.

Over the past year, foreign-born workers have dropped over 100,000, while native-born jobs have jumped almost 400,000. There’s no A.I. job loss effect thus far.

But let me circle back to the importance of business. You have to have a healthy, profitable business in order to have the resources to hire more workers and pay better wages and salaries. If you’re losing money, you’re going to lay off workers and shrink pay.

So profits, which are the mothers milk of stocks and the lifeblood of the economy, are absolutely crucial. Macroeconomists, especially from northeastern and bicoastal universities do not seem to understand this. And their graduates in the media do not understand this. Profits are the key, they’re not a dirty word. So when President Trump eased the tax on profits in the one big beautiful bill, he knew what he was doing. He was creating jobs at higher wages.

And then follow the real economic logic, a successful moneymaking, profitable business hires more workers, pays better wages, and those wages are the incomes of working families sitting around the kitchen table. And that turns into what’s called consumer spending.

But the business comes first and then the logic passes all the way through to so-called consumer spending. People don’t seem to understand that, but this is how our free enterprise economy works. As the late Jack Kemp used to say, the trouble with Democrats is that they like jobs, they just don’t like the business that creates jobs. 

Now there were plenty of tax cuts on individuals: tips, overtime, social security, seniors, all in one, big, beautiful bill.

And here’s a final point on profits, they are booming. And because they’re booming, and because business is booming, wages are gonna skyrocket and the economy is going to grow faster than almost anyone thinks possible. If only republicans would talk about this for the midterms.

NEW YORK — The CBOE Volatility Index, commonly known as the VIX or Wall Street’s “fear gauge,” jumped more than 6% Friday to trade around 16.45, reflecting heightened investor anxiety amid a sharp pullback in technology stocks and a stronger-than-expected May jobs report that tempered hopes for near-term Federal Reserve rate cuts.

The rise in the VIX signals growing expectations for near-term market swings as traders priced in uncertainty following disappointing guidance from key artificial intelligence players and signs of a resilient labor market. While still at relatively moderate levels historically, the increase marks a notable shift from the subdued volatility seen in recent sessions.

The VIX measures implied volatility derived from S&P 500 index options, serving as a barometer for investor sentiment over the next 30 days. Its inverse relationship with equities was evident Friday as major indices faced selling pressure, particularly in the Nasdaq and S&P 500.

Drivers Behind the Volatility Spike

A primary catalyst was continued weakness in the semiconductor sector after Broadcom’s earnings and outlook disappointed investors despite beating estimates. The company’s shares extended heavy losses, dragging down peers and amplifying concerns about the sustainability of the AI-driven rally that has dominated markets.

The May nonfarm payrolls report added to the unease, showing 172,000 jobs added — well above consensus estimates. The stronger labor market data reduced expectations for imminent rate cuts, pushing Treasury yields higher and pressuring growth-oriented stocks that dominate recent market gains.

Analysts noted this “good news is bad news” dynamic for equities, where robust economic indicators raise fears of prolonged higher interest rates. Such environments typically boost demand for protective options, lifting the VIX.

Market Rotation and Broader Context

Friday’s action highlighted ongoing rotation from high-valuation technology names into more defensive and value sectors. The Dow Jones Industrial Average showed relative resilience earlier in the week with record closes, while small-caps in the Russell 2000 also faced pressure alongside the broader market.

Geopolitical factors, including developments in the Middle East affecting oil prices, contributed to the cautious mood. While the VIX remains well below levels seen during major crises — such as spikes above 30 or even 50 in prior periods of heightened tension — the move underscores sensitivity to data releases and corporate guidance.

The index had traded in a relatively calm range in recent weeks, often hovering in the mid-teens, reflecting investor confidence amid strong corporate earnings and AI enthusiasm. The current uptick serves as a reminder of underlying risks in a concentrated market.

What the VIX Level Means for Investors

A VIX reading around 16 indicates moderate expected volatility, higher than the long-term average near 20 but far from panic territory. Levels below 20 generally suggest complacency, while readings above 30 signal significant stress. Friday’s increase points to traders buying protection against potential further downside.

Options market activity showed elevated demand for puts on major indices, consistent with hedging behavior during equity declines. This dynamic can create a feedback loop where rising volatility itself fuels additional selling.

For portfolio managers, the VIX provides a tool for risk assessment. Higher readings often coincide with opportunities for those willing to buy during dips, as volatility tends to mean-revert over time. However, prolonged elevations can signal deeper concerns.

Historical Perspective on VIX Movements

The VIX has experienced dramatic swings in its history, reaching peaks above 80 during the 2008 financial crisis and elevated levels during the early COVID-19 pandemic and other geopolitical shocks. In 2026, it has fluctuated in response to tariff developments, Middle East tensions and monetary policy shifts, but generally trended lower as markets stabilized.

Recent months saw the index retreat from higher levels seen earlier in the year, reflecting improved sentiment. Friday’s jump fits within normal fluctuations but draws attention as markets digest mixed signals from economic data and corporate results.

Implications for Trading and Strategy

Traders often use VIX-related products, including futures and ETFs, to hedge portfolios or speculate on volatility. The spike could boost interest in such instruments as investors seek to protect against further downside or capitalize on expected swings.

Longer-term, analysts remain generally optimistic about U.S. equities, citing solid fundamentals and technological innovation. However, they caution that periods of elevated volatility are likely as the year progresses with ongoing policy and geopolitical uncertainties.

The current environment rewards diversification and a focus on quality companies with strong balance sheets. Investors may look to sectors less sensitive to rate expectations, such as financials, healthcare and certain industrials, which offered relative stability Friday.

Outlook and Key Factors to Watch

Attention now turns to upcoming inflation data, consumer spending reports and further corporate earnings. The Federal Reserve’s path will remain central, with markets assessing whether strong jobs numbers alter expectations for easing later in the year.

Geopolitical developments and energy prices will also influence sentiment. Sustained volatility could emerge if AI enthusiasm cools further or if economic data presents conflicting signals.

For the VIX, a retreat toward the mid-teens would indicate easing concerns, while a move above 20 could signal broader risk aversion. Market participants will monitor options pricing and futures curves for clues about the duration of elevated expectations.

The rise in the fear gauge underscores the market’s delicate balance between optimism about long-term growth and caution around near-term risks. As trading continues, volume, sector leadership and responses to upcoming catalysts will determine whether this spike proves temporary or the start of a more volatile period.

In summary, Friday’s increase in the VIX reflects a healthy dose of caution amid shifting market narratives. While not yet indicating extreme fear, it serves as a timely reminder for investors to remain vigilant and prepared for potential swings in an evolving economic and geopolitical landscape.

Available for over a year

Anne McElvoy and guests discuss the concentration, distribution and morality of wealth now and look back at An Inquiry into the Nature and Causes of the Wealth of Nations, published by the Scottish economist and philosopher Adam Smith in 1776, which gives an early account of what builds nations’ wealth and introduced concepts such as free markets, the division of labour, and productivity.

Our guests for this episode of BBC Radio 4’s Friday night ideas discussion programme are:

Vicky Pryce, economist and business consultant and co-author of Mismanaged Decline What Politicians Won’t Tell You About the Economy

Maha Rafi Atal, Adam Smith Senior Lecturer in Political Economy at the University of Glasgow and author of the forthcoming book When Companies Rule: Corporate Power from the East India Company to Silicon Valley. The University is holding a series of events to mark the 250th anniversary of the publication of The Wealth of Nations.

Dafydd Daniel, Lecturer in Divinity at the University of St Andrews

Allister Heath, business journalist

Hettie O’Brien, Guardian writer and author of The Asset Class: How Private Equity Turned Capitalism Against Itself

Producer: Eliane Glaser

You can hear another discussion about searching for economic solutions in the most recent episode of Start the Week, Radio 4’s Monday morning discussion programme where Tom Sutcliffe was joined by Mariana Mazzucato, Jeremy Hunt and Patrick Foulis.

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PORTHCURNO (ENGLAND): Newly discovered documents have revealed the first telegraph messages and joy when England was linked for the first time with India on 23 June, 1870, via thousands of km of cables laid painstakingly below the seas, reducing time from months to minutes.

The sylvan Porthcurno valley in Cornwall, located on the Atlantic coast 506 km south-west of London, was the unlikely place of a revolution that enabled Britain and its former colonies to communicate with each other.

Museum officials told a visiting PTI correspondent that Porthcurno was the hub of international cable communications from 1870 to 1970, and a training college for the communications industry until 1993.

Now a museum housing rare equipment and details of the history of telegraph, Porthcurno has been granted millions of pounds in funding to develop an international education programme that includes community groups in India.

Among its rare archives discovered last week is a collection of the first telegraph messages sent from Porthcurno and Mumbai (then Bombay).

Until that landmark day, communication between England and India was unreliable, and often took months.
According to the document, the first message was dispatched on the night of 23 June, 1870, and a reply was received in 5 minutes, which was a technological feat at the time.The message was called a ‘complimentary telegram’ between the ‘Managing Director in London and the Manager in Bombay’.

The first message was from ‘Anderson to Stacey: How are you all?’, to which the reply was: ‘All well’.

The second message from Anderson was: ‘Please ask gentlemen of the press, Bombay, to send a message to gentlemen of the press, New York’.

After several messages that night, including some to the governor of Bombay, from Lady Mayo to viceroy Lord Mayo based in Shimla, and one from the Prince of Wales to the viceroy, a response was received from journalists based in Bombay.

It said: ‘From the Press of India to the Press of America: The Press of India sends salaam to the Press of America. Reply quick’.

The document notes that the viceroy of India had sent a telegraph to the president of the United States and “received a reply which reached him in 7 hours 40 minutes”.

The viceroy’s message, which was read in the American Congress the same evening, was: “The Viceroy of India for the first time speaks direct by telegraph with the President of the United States. May the completion of the long line of uninterrupted communication be the emblem of lasting union between the Eastern and Western World”.

Telegraphic communication with India was first established in 1864 by overland telegraph lines from Europe to the top of the Persian Gulf and then by an undersea cable to Karachi, but the overland section was never satisfactory, prompting efforts to lay more reliable cables below the sea.

In 1869, telegraph pioneer John Pender established the British Indian Submarine Telegraph Company, whose task was to lay undersea cables to India.

The five ships used to lay the thousands of km of cables were the Great Eastern, William Cory, Chiltern, Hawk and Hibernia.

It took six weeks to lay the cables from Suez to Bombay. This was followed by the laying of the final link from Malta to Porthcurno.

It was the first long distance cable ‘chain’, and opened to the public with much jubilation, museum records show.

After the link with India was established, Porthcurno was linked by undersea cables to several other areas across the world.

At its height, it was the world’s largest station with 14 cables in operation. Porthcurno’s telegraphic codename was ‘PK’.

During World War II, tunnels were dug by Cornish miners to house an underground building and Porthcurno’s entire telegraph operations.
The building today houses the museum and archives that started the communication revolution in the late nineteenth century.
Besides 1.44 million pounds funding received in January, the museum this week has been granted 35,000 pounds from the international telecommunications organisation SubOptic to develop an education project with community groups in India, among other countries.
Museum officials said the money will fund an international education programme that will benefit users from spring 2013.

It will include online learning resources, including video clips, animations and games that will enable users to discover the science of global cable-based telecommunications, as well as its impacts on local identity, democracy and culture.

Subaru is recalling nearly 70,000 vehicles in the U.S. after discovering a defect that could cause moonroof glass panels to detach from the vehicle, creating a potential hazard for other motorists.

The recall affects 69,663 model-year 2026 Subaru Forester and Forester Hybrid vehicles, according to a safety recall report filed with the National Highway Traffic Safety Administration.

According to the report, some affected vehicles may have been manufactured with power moonroof assemblies in which the glass panel was improperly bonded to the sliding frame. Over time, the adhesive bond could deteriorate, increasing the risk that the moonroof glass could separate from the vehicle while it is being driven.

The automaker said a detached glass panel could raise the risk of a crash or injury for other road users.

FORD RECALLS NEARLY 420,000 EXPEDITION AND LINCOLN NAVIGATOR SUVS OVER SEAT BELT LOCKING ISSUE

The recall covers 65,656 Forester SUVs produced between June 19, 2025, and March 13, 2026, as well as 4,007 Forester Hybrid models built between Feb. 20 and March 17, 2026.

Subaru traced the issue to the manufacturing process, saying some moonroof assemblies may not have received the proper amount of primer, a bonding agent needed to securely attach the glass panel to the sliding frame. The moonroof assemblies were supplied by Webasto Roof Systems Inc. in Kentucky.

The company began investigating the issue after receiving a report on Feb. 26 that a moonroof glass panel had detached from a vehicle. A supplier investigation later indicated that some assemblies may have been produced with improper bonding between the glass and frame.

Subaru said it received three technical reports related to the condition between Feb. 26 and March 25. The company said it is not aware of any crashes or injuries linked to the defect.

NISSAN RECALLS OVER 51K SUVS AFTER SOFTWARE DEFECT CAUSES DASHBOARD SCREENS TO FAIL

The automaker decided on May 21 to conduct a voluntary safety recall “out of an abundance of caution,” according to the filing.

Dealers will inspect affected moonroof glass panels and replace the assembly if necessary at no cost to owners. Subaru said the issue was corrected in production on March 10.

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A representative for Subaru did not immediately respond to FOX Business’ request for comment.

Dealer notifications began May 28, while owner notification letters are expected to be mailed by July 24. Vehicle owners will be able to check whether their SUV is included in the recall through Subaru or NHTSA recall lookup tools.

In April 2026, Thai exports grew 23.1%, driven by electronics and US demand, while imports surged 45%, causing a record trade deficit; SCB EIC raised the 2026 export forecast to 7.8%.

Strong Growth in Thai Exports in April 2026

Thailand’s export engine is running hot—powered by electronics, AI‑related demand, and a rebound in agriculture. But imports are running even hotter, especially in energy and electronic components, pushing the trade deficit to unprecedented levels.

Key Drivers

• Electronics exports jumped 64.6%, benefiting from the global electronics upcycle and AI/data‑center investment trends .
• Electronics alone contributed 13.2 percentage points to total export growth .
• Exports to the US surged 44.2%, with electronics to the US up 93.8% .
• Agricultural exports rebounded 17.9%, led by fruit exports (+74.3%), especially durian (+109.5%) .
• Middle East exports rebounded 19.3%, but almost entirely due to a one‑off spike in jewelry/precious stones (+1,157%)

Thai exports surged to USD 31.6 billion in April 2026, expanding by 23.1% year-on-year and accelerating from 18.7% the previous month. This growth exceeded expectations, driven primarily by electronics, which grew 64.6%, benefiting from the global technology upcycle and strong demand from key markets like the US. Agricultural exports also rebounded with a 17.9% increase, especially fresh fruits like durian.

Exports to the US rose 44.2%, partly due to reduced tariffs and increased shipments of electronics and other products. However, exports to the Middle East rebounded mainly due to a sharp rise in jewelry exports.

Record-High Imports and Trade Deficit

Imports in April rose 45%, the highest in nearly five years, reaching USD 41.6 billion. This increase was driven by raw materials, intermediate goods, fuel—including crude oil prices impacted by Middle East tensions—and capital goods for technology sectors. Imports from China and Taiwan expanded substantially as Thailand sourced key inputs for its electronics manufacturing. Consequently, the trade deficit hit a record USD 10 billion for the month, with a cumulative deficit of nearly USD 19.5 billion during January-April 2026.

Revised Outlook for 2026 Trade Performance

SCB EIC has revised its 2026 export growth forecast upward to 7.8%, citing robust performance in electronics and improved global trade forecasts by WTO and IMF. The expansion in AI-related products and rising global gold demand also supports this outlook. Meanwhile, imports are expected to rise 15.8%, fueled by strong capital goods demand and higher fuel import costs. Despite potential risks from US tariff measures, Thailand’s export sector remains resilient, supported by ongoing global electronics upcycles and technology investments, especially in data centers.

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