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US war on Iran was a 'mistake', says Reeves

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US war on Iran was a 'mistake', says Reeves

The chancellor’s criticism follows a report that the conflict will hit the UK harder than other big economies.

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Buy the Dip or Sell the Rally as Turnaround Gains Traction?

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NEW YORK — Starbucks Corp. shares have climbed more than 15 percent year-to-date in 2026, trading near $98 in mid-April as investors weigh early signs of a turnaround under new CEO Brian Niccol against lingering pressures from cautious consumers and a complex China market.

At around $98.47 on April 15, 2026, SBUX stock sits well above its recent lows but remains far below the all-time highs above $120 seen in prior years. The company’s market capitalization hovers near $110 billion after a volatile stretch marked by declining traffic in key markets and aggressive cost-cutting efforts. Year-to-date gains outpace the broader market modestly, reflecting guarded optimism around the “Back to Starbucks” strategy launched after Niccol’s arrival from Chipotle in late 2024.

Wall Street’s consensus leans toward cautious optimism. Across roughly 40 analysts, the average 12-month price target stands near $101 to $104, implying modest single-digit upside from current levels. Ratings tilt toward Hold with a sprinkling of Buy recommendations, though some firms have nudged targets higher following positive Q1 signals. The highest targets reach $165 in optimistic scenarios, while bears see downside risks toward $74 if momentum stalls.

Fiscal first-quarter 2026 results released in late January offered the clearest evidence yet that Niccol’s plan is gaining traction. Global comparable store sales rose 4 percent, driven by positive U.S. transaction growth for the first time in eight quarters. Revenue climbed 5 percent to approximately $9.9 billion, beating estimates, though adjusted earnings per share of $0.56 missed consensus slightly amid higher labor investments and one-time items.

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The company introduced full-year fiscal 2026 guidance calling for global comparable sales growth of 3 percent or better, with similar revenue expansion. Non-GAAP earnings per share are projected in a range of $2.15 to $2.40, and Starbucks plans to open 600 to 650 net new stores worldwide. Executives described the turnaround as “ahead of schedule,” highlighting menu simplification, improved store operations and a renewed focus on the core coffeehouse experience.

Niccol has emphasized returning Starbucks to its roots — faster service, friendlier baristas and a stronger sense of community — after years of over-reliance on digital orders and drive-thru efficiency that some critics said eroded the brand’s soul. Early moves included trimming the menu by 25 to 30 percent to reduce complexity and waste, enhancing in-store ambiance and retraining staff. U.S. traffic trends have stabilized, with transaction growth turning positive amid targeted promotions and value offers.

International markets present a more mixed picture. China, once a high-growth engine with plans to reach 20,000 stores through a partnership with Boyu Capital, continues facing headwinds from intense local competition and a sluggish consumer environment. While the company maintains long-term ambitions in the region, near-term traffic remains soft. Starbucks closed a strategic deal in China earlier in 2026, aiming to accelerate expansion while sharing risk.

Analysts credit Niccol’s operational discipline for margin stabilization efforts even as investments in labor and store refreshes weigh on near-term profitability. Operating margins contracted in Q1 but executives expect slight improvement for the full year through efficiency gains and disciplined pricing. Free cash flow generation remains solid, supporting the company’s quarterly dividend of about $0.61 per share, which yields roughly 2.5 percent at current prices.

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The stock’s valuation sparks debate. Trading at a forward price-to-earnings multiple in the high 30s to low 40s based on 2026 estimates, SBUX commands a premium that assumes successful execution of the turnaround. Bulls argue the multiple is justified by Starbucks’ powerful global brand, loyal customer base and potential for mid-single-digit long-term growth as digital, ready-to-drink products and new store development compound. Bears counter that the premium leaves limited room for error if U.S. consumer spending weakens further or China recovery lags.

Next earnings for the fiscal second quarter are scheduled for late April, with investors eager for updates on U.S. traffic trends, China performance and progress on store renovations. Any positive surprises on same-store sales or margin trajectory could fuel further gains, while softer commentary might trigger profit-taking.

Competition remains fierce. Rivals such as Dutch Bros, local coffee chains and even fast-food players offering premium beverages continue chipping away at market share, particularly among price-sensitive younger customers. Starbucks has responded with value bundles, seasonal drinks and loyalty program enhancements designed to boost frequency without deep discounting that could erode margins.

Longer-term catalysts include international expansion beyond China, growth in the Global Coffee Alliance and ready-to-drink beverages, and potential innovation in plant-based or premium offerings. The company also continues investing in technology, including mobile order improvements and data-driven personalization, to enhance the customer experience.

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For investors debating buy or sell decisions in 2026, Starbucks represents a classic turnaround story in the consumer discretionary space. Optimists see an attractive entry point after years of underperformance, with Niccol’s proven track record at Chipotle providing credibility. The current dividend yield and share repurchase activity add appeal for income-oriented portfolios. At depressed levels relative to historical peaks, the stock offers asymmetric upside if the “Back to Starbucks” plan restores mid-single-digit growth and expands margins toward pre-pandemic levels.

Skeptics highlight structural challenges: a maturing U.S. market, persistent inflation pressures on discretionary spending and geopolitical risks in China. Execution risk remains high as the company balances cost discipline with investments in people and stores. If traffic gains prove temporary or new store openings fall short, the premium valuation could compress quickly.

Portfolio considerations matter. Defensive qualities in the consumer staples-adjacent sector make Starbucks appealing during economic uncertainty, yet its sensitivity to discretionary spending ties it more closely to cyclical trends. Dividend growth history and strong balance sheet provide some downside protection.

As spring advances, attention will focus on summer beverage sales, back-to-school traffic and any updates on China operations or new product launches. Broader economic factors — interest rates, employment trends and consumer confidence — will influence results.

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At current levels near $98, Starbucks offers a blend of recovery potential and income. Short-term traders may await the April earnings reaction for clearer direction, while longer-term investors can lean on the brand’s resilience and Niccol’s strategic shifts. Those with high conviction in a U.S. traffic rebound and successful China navigation see room for the stock to climb toward the $110-$120 range by year-end.

The coming months will test whether early positive trends translate into sustained momentum. Strong Q2 results, accelerating U.S. transactions and credible progress on margins could validate the bullish case and support multiple expansion. Any signs of renewed softness, however, might pressure shares toward the lower end of the 52-week range.

Starbucks built its empire on the simple promise of a welcoming third place between home and work. Under Niccol, the company is rediscovering that heritage while adapting to a more competitive, cost-conscious environment. Whether 2026 marks the inflection point for renewed growth or another transitional year will shape shareholder returns for years ahead.

For now, the data point to a Hold with upward bias for those willing to tolerate volatility. The golden siren has weathered storms before. If the turnaround delivers, patient investors could be rewarded as Starbucks reclaims its position as a premium growth name in the restaurant sector. Execution will be everything in the months ahead.

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HORNBACH Holding AG & Co. KGaA (HBBHF) Presents at Mwb Research Online Conference German Select VII Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

HORNBACH Holding AG & Co. KGaA (HBBHF) Mwb Research Online Conference German Select VII April 13, 2026 8:00 PM EDT

Company Participants

Antje Kelbert – Head of Investor Relations

Presentation

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Unknown Analyst

Good afternoon, everybody. We are down to the last presentation, the 11th presentation of our German Select Conference. And the slot goes, last but not least, to HORNBACH Holding, which will be presented by Antje Kelbert, Head of IR. As always, we’ll have a 30-minute slot, 20 minutes roughly a presentation, 10 minutes Q&A. If you have questions in the presentations before, please use the chat box to enter them and we will address them during the following Q&A after the presentation. And in case you did like this format, please feel free to join us on April 23 for our Austrian Select Conference. We will share the link to that shortly in the chat box as well.

That’s all I have, and I will now hand it over to you, Antje, to share your insights on HORNBACH Holding.

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Antje Kelbert
Head of Investor Relations

Well, thank you very much for your kind introduction, and good afternoon, ladies and gentlemen. It’s a pleasure to welcome you today here and to present HORNBACH Holding to you. So HORNBACH is a company characterized by resilient business model, sustainable growth prospects and continuous innovation.

As said, my name is Antje Kelbert, and I’m Head of Investor Relations. So here’s some disclaimer remarks, but now jumping directly, what are we doing and who are we? HORNBACH is one of European’s leading brand when it comes to home improvement and the DIY sector. And many of you, I’m probably sure, are already familiar with HORNBACH, whether through your own projects you’ve made or also our marketing and advertising activities.

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Iran conflict, oil prices threaten to dent cruise line profits

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Iran conflict, oil prices threaten to dent cruise line profits

The Carnival Miracle cruise ship is anchored in the Pacific Ocean near Kailua Bay during a 15-day cruise, in Kailua-Kona, Hawaii, on Jan. 14, 2024.

Kevin Carter | Getty Images

The global cruise industry is reporting record demand and renewed consumer enthusiasm, but the leaders helming the world’s largest cruise companies say the sector is also facing some of the most complex challenges it has seen in decades.

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“We are not an alternative vacation anymore. We are a vacation,” Carnival Corporation CEO Josh Weinstein said during a keynote panel Tuesday at Seatrade Global, a cruise industry conference.

As demand rises, passengers are getting younger; one-third of cruise travelers are now under 40, according to the 2026 State of the Cruise Industry report released by Cruise Lines International Association (CLIA). One-third of trips are multi-generational, often families traveling together. And nearly a third of cruisers take vacations by ship multiple times a year, according to the report.

The cruise industry hosted 37 million passengers worldwide last year and anticipates reaching 42 million annually by 2029, CLIA found.

“That mainstream demand sets us up very well for volatility,” Weinstein said.

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A resilient business in an uncertain world

At least six cruise ships remain stranded in the Persian Gulf by the impasse at the Strait of Hormuz. One of them is the MSC Euribia.

Though roughly 1,500 passengers were safely evacuated amid Dubai airport shutdowns and missile warnings after the U.S. and Israel launched an attack on Iran in late February, there are still some crew on board to maintain the vessel.

“Obviously, we live day by day. The situation is very fluid,” said MSC Cruises Executive Chairman Pierfrancesco Vago during the Seatrade Global keynote.

Already the shutdown of marine traffic in the Strait has disrupted itineraries in the Middle East and southern Europe. Threats of blockades, mines on the sea floor and on-and-off-again negotiations are keeping cruise executives guessing about when they can move their ships.

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“Morning is one thing, lunchtime is another, dinner is another again,” Vago said of the numerous and often conflicting announcements from government leaders. “We need to stay cool and actually be ready to move out as soon as the possibility and opportunity comes back.”

Despite these challenges, cruise executives argue the industry has never been better positioned to absorb shocks.

“Every crisis we’ve faced — financial, geopolitical or health-related — we adapted,” Carnival’s Weinstein said. “There’s no reason to believe it will be different this time.”

Fuel costs, sustainability and the push to use less

Fuel price volatility has once again put energy strategy front and center for the cruise industry, particularly for Carnival, which does not hedge fuel prices.

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“Nobody asks us about hedging when prices are low,” Weinstein said. “But our strategy has been consistent: use less fuel.” 

The cruise industry aims to have net zero emissions by 2050, but CEOs agree that they can’t achieve that goal solely by conserving fuel.

Industry leaders see biofuels, green methanol and synthetic liquid natural gas (produced by combining captured carbon with hydrogen) as the most promising solutions to meet their fuel needs.

Fincantieri CEO Pierroberto Folgiero on ship building in America

Royal Caribbean Group CEO Jason Liberty said cruise lines are already investing hundreds of millions of dollars annually in technology and energy innovation, but availability of alternative fuels remains the bottleneck.

“It’s not about what we want to use,” Liberty said. “It’s about what’s scalable and available.” 

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“We’re going to have heavy competition with other sectors for those fuels as well. There’s no guarantee we get them,” added Bud Darr, president and CEO of Cruise Lines International Association.

Tailwinds for growth

Even as the industry navigates choppy seas, cruise companies are looking for their next avenues for growth.

Technological advances in artificial intelligence are being used to reduce food waste, plot routes and itineraries and increase efficiency. Cruise line executives say the most important application is to reduce friction in the guest experience.

“A more flexible work environment has been a big demand driver for us,” Liberty said. Most Royal Caribbean ships now host a Starlink connection for fast internet aboard.

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Private destinations, the exclusive ports or islands owned or controlled by a cruise line, continue to be a priority for investment. Royal Caribbean, for instance, currently has three private destinations on its itineraries but will have eight by 2028.

It’s developing a major land-based hub in Puerto Williams, Chile, to reduce or eliminate the amount of time passengers to Antarctica have to spend transiting the punishing seas of the Drake Passage.

And the luxury segment, though a small percentage of the overall industry, is growing rapidly. Customers are increasingly interested in exploring health, wellness and longevity — and those trends are showing up in their vacation habits, too.

Smaller ships and river cruising accommodate specialized interests in eco-tourism, off-the-beaten path (not yet discovered by social media influencers) locales and culinary or artistic aficionados.

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Social-media driven demand in tourism has also sparked backlash from some destinations, overwhelmed by the crowds. The cruise industry is working with destinations on what it calls managed, predictable tourism.

Vago said MSC worked with Dubrovnik, Croatia, for example, to coordinate the flow of visitors to the medieval town, which wants the tourism spending but without destruction of quality of life for residents.

“Many of these coastal communities actually appreciate that. We plan in advance. We create itineraries three years in advance,” Vago said.

“The strength of this industry is its ability to evolve without losing its soul,” Liberty said. “That soul is hospitality.”

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Leadership change and fresh perspective

At Norwegian Cruise Line Holdings, the challenge for new CEO John Chidsey is righting the ship.

In his first earnings call, just days after taking the helm, Chidsey acknowledged the company had committed numerous missteps.

Margins are under pressure. Shares have been volatile. Critics have questioned a push to expand cruise itineraries in the Caribbean before Norwegian’s private island was fully completed.

Earlier this year, Elliott Investment Management took an activist stake in Norwegian, which may have provided impetus for the board to make a leadership change.

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Chidsey told CNBC Elliott’s goals align with his own and that he intends to create a culture of accountability and urgency where teams are working together rather than separated into silos.

New Norwegian Cruise Line CEO John Chidsey on taking the helm

The Seatrade conference was a cruise industry debut for Chidsey, formerly the CEO of Subway, Burger King and Avis.

When asked what a “sandwich guy knows about cruising,” Chidsey didn’t miss a beat, insisting he’s a “turnaround guy not a sandwich guy.”

“I knew nothing about fast food when I went there. I think having a fresh set of eyes is really what Norwegian needs. And it’s all about execution,” he said.

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Costco debuts new high-demand product as fans eye price edge over rivals

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Costco debuts new high-demand product as fans eye price edge over rivals

Costco has rolled out a new milk product in select locations that lactose-intolerant customers say they had long been “waiting for Costco to put out,” marking a release that shoppers are calling long overdue and highly anticipated.

An ultra-filtered, high-protein, low-calorie 2% fat milk has appeared in Texas stores, according to an early April Reddit post by a user in Georgetown.

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FOX Business has confirmed the item has been stocked in select Austin-area stores, with more locations expecting to receive it soon.

Customers can purchase the product in three half-gallon cartons under the Kirkland Signature label for $10.59.

COSTCO TO OPEN ITS FIRST STAND-ALONE GAS STATION WITH SECOND LOCATION COMING NEXT YEAR

several blue boxes of kirkland signature milk sitting at costco shelves

Cartons of Kirkland Signature high-protein lactose-free 2% milk are displayed on a Costco shelf in Cedar Park, Texas, on April 15, 2026. (Bonny Chu for Fox News Digital / Fox News)

According to users on social media, the new product has not yet expanded to East Coast locations and is currently part of a West Coast–focused testing phase.

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The warehouse addition, product no. 1975527, comes at a convenient time, consumers said, as many users have reported noticing higher prices and intermittent shortages in comparable products sold at competing retailers, including Aldi’s Fairlife line, one of the first major brands to popularize ultra-filtered milk.

“This is exactly what I’ve been waiting for Costco to put out!” one Reddit user said in a post. “I buy the Aldi one but this should be cheaper still. Hope it hits my warehouse soon.”

While 2% lactose-free milk is already available at Costco, including the Kirkland Organic Lactose Free, the new product offers 50% less sugar, 50% more protein, and an increased level of daily vitamins.

It contains 120 calories and 13 grams of protein per cup, compared with roughly 130 calories and 8 grams of protein in similar alternatives.

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COSTCO SAYS YOUR NEXT CHECKOUT COULD TAKE UNDER 10 SECONDS THANKS TO NEW AUTOMATED PAY STATIONS

split image of blue-colored boxes displaying "ultra-filtered reduced fat milk 2%"

Costco’s new Kirkland Signature 2% milk is a lactose-free product featuring 50% higher protein and 50% less sugar compared to similar alternatives.  (Bonny Chu for Fox News Digital / Fox News)

Users also praised the new product, priced at $10.59 for a total of 1.5 gallons, as a steep discount, with some shoppers noting that Fairlife milk can cost about $5.32 for 0.4 gallons, or more than $10 for less than a gallon at local grocery stores.

“Fair life is $5.32 for .4 gallon at my local grocery store,” one user said. “That’s a pretty solid discount!”

“Woah, I stopped buying the 2% Costco milk and replaced it with the Aldi fair life dupe ($3.89 for 57oz) about 8 months ago, but if this shows up at mine, I’m buying this instead,” another user said. 

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Ticker Security Last Change Change %
COST COSTCO WHOLESALE CORP. 983.96 +9.15 +0.94%

The lactose-free, high-protein milk is made possible through an ultra-filtration process that separates milk into components and recombines them for higher protein and lower sugar while reducing lactose. 

While Fairlife milk pioneered and patented a specific multi-stage filtration system, other manufacturers, including Costco, can still use broader filtration methods to concentrate protein and produce lactose-free milk products.

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customer enters costco fridge

A customer enters a fridge unit at a Costco warehouse in Azusa, Los Angeles County, California, the United States.  (Gao Shan/Xinhua / Getty Images)

The process also creates a thicker, creamier product that is often lactose-free, high in macronutrients, and more shelf-stable, according to shoppers.

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“I love the flavor, and I really love the expiration date,” another Reddit user said. “Unopened, they last for weeks, so it’s nice to have something that has a fresher taste, but does not expire in two weeks. The shelf stable milk lasts longer unopened, but doesn’t taste fresh.”

If sales perform well in its initial markets, the item could be rolled out to additional locations, which is consistent with Costco’s typical approach of testing private-label products in select regions before scaling distribution chain-wide based on consumer demand.

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Xanadu Quantum Stock Explodes 54% on Nvidia AI Models as Photonic Pioneer Surges in 2026

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NEW YORK — Xanadu Quantum Technologies Limited shares rocketed more than 54 percent in midday trading Wednesday, surging to around $22.68 as investors piled into the newly public photonic quantum computing company amid a sector-wide rally triggered by Nvidia Corp.’s launch of open-source AI models designed to accelerate quantum research and development.

Xanadu Quantum Stock Explodes 54% on Nvidia AI Models as
Xanadu Quantum Stock Explodes 54% on Nvidia AI Models as Photonic Pioneer Surges in 2026

At approximately 12:29 p.m. EDT on April 15, 2026, XNDU stock had climbed $8.07, or 54.42 percent, from Tuesday’s close of $14.83 on heavy volume exceeding 4.5 million shares — far above recent averages. The Canadian company’s market capitalization swelled toward $7.9 billion intraday, reflecting explosive enthusiasm for quantum plays just weeks after its March 27 Nasdaq and TSX debut via a $302 million de-SPAC transaction with Crane Harbor Acquisition Corp.

The catalyst came from Nvidia’s announcement of a new family of open-source AI models, including Ising, explicitly built to speed advances in quantum computing. The move signaled growing integration between classical AI infrastructure and quantum technologies, lifting the entire sector. Xanadu, D-Wave Quantum, IonQ, Rigetti Computing and others posted double-digit gains, with XNDU leading the charge as one of the freshest pure-play names available to retail and institutional investors.

Xanadu specializes in photonic quantum computing, an approach that uses particles of light rather than superconducting circuits or trapped ions. This room-temperature technology promises easier scaling and compatibility with existing fiber-optic networks, potentially giving it an edge in building fault-tolerant systems. The company’s flagship software platform, PennyLane, has become a popular open-source tool for quantum machine learning and hybrid quantum-classical algorithms, with average monthly downloads growing 161 percent to about 160,000 in 2025.

Fiscal 2025 results released April 9 showed revenue of $4.6 million, up 188 percent from $1.6 million the prior year, driven by expanded customer contracts and services. The company posted a net loss of $70.7 million, widening from $46 million as it ramped research and development and incurred costs tied to the public listing. Cash stood at $16.2 million at year-end 2025, but the de-SPAC injected substantial fresh capital to fund hardware scaling and commercialization efforts.

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CEO Dr. Christian Weedbrook highlighted technical milestones in the earnings release. Xanadu introduced Aurora, described as the world’s first modular, networked photonic quantum computer with real-time error correction. Researchers demonstrated 12 logical Gottesman-Kitaev-Preskill (GKP) qubits with error correction, published in the journal Nature. Optical loss was reduced by 60 percent during the year, a 20-fold improvement over three years, addressing a key barrier to scalable photonic systems.

The company advanced in government programs, reaching Stage B of DARPA’s Quantum Benchmarking Initiative for up to $15 million and earning selection for Canada’s Quantum Champions Program with up to CAD $23 million. Negotiations continue for up to CAD $390 million under Project OPTIMISM to build domestic semiconductor and photonic manufacturing infrastructure in Ontario.

Xanadu opened a $10 million photonic packaging facility and forged new partnerships with entities including the U.S. Air Force Research Laboratory, Mitsubishi Chemical, Rolls-Royce, AMD, Lockheed Martin and others. PennyLane integrations with tools from AMD, NVIDIA’s cuQuantum and the Munich Quantum Toolkit continue expanding its software ecosystem, allowing researchers to simulate and optimize quantum algorithms on classical GPUs before deploying on actual hardware.

Wall Street coverage remains limited in the stock’s early public life, but the broader quantum sector commands attention as investors hunt for exposure to technologies that could eventually crack encryption, accelerate drug discovery, optimize logistics and enhance AI capabilities. Analysts note Xanadu’s photonic approach differentiates it from superconducting leaders like IBM or ion-trap players like IonQ, while PennyLane provides a software moat that reaches developers worldwide.

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Yet risks abound. Xanadu remains pre-revenue at commercial scale, with significant operating losses and heavy dependence on continued government and private funding. Quantum computing as an industry faces formidable technical hurdles on the path to fault tolerance, with useful, large-scale machines likely still years away. Competition is intense, and execution on manufacturing scale-up will prove critical.

The stock’s 52-week range stretches from a low near $6.97 to an intraday high approaching $25 on Wednesday, underscoring extreme volatility typical of early-stage deep-tech names. Short interest and retail enthusiasm, amplified by social media chatter around quantum and AI convergence, have fueled sharp moves since the March debut, when shares popped 15 percent on the first trading day.

For investors debating positions in 2026, Xanadu represents a high-risk, high-reward bet on the quantum revolution. Bulls point to the $302 million war chest, strong technical progress, PennyLane’s growing adoption and potential government backing as foundations for long-term value. The Nvidia-driven sector tailwind adds near-term momentum, with some models projecting substantial upside if Xanadu hits roadmap targets such as hundreds of logical qubits by the end of the decade.

Skeptics caution that current valuations embed aggressive assumptions about commercialization timelines. With minimal revenue and ongoing cash burn, dilution risks remain if additional capital is needed. Broader economic conditions, regulatory shifts around quantum technologies and geopolitical competition — particularly with China’s quantum ambitions — could influence sentiment.

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Next catalysts include updates on Project OPTIMISM funding, further PennyLane releases, hardware demonstrations and any partnerships leveraging the new Nvidia quantum AI tools. The company’s road map targets meaningful progress toward fault-tolerant systems in the 2029-2030 timeframe, aligning with industry forecasts that the quantum computing market could exceed $11 billion by 2030.

As a newly listed name, Xanadu offers pure-play exposure to photonic quantum hardware and software at a time when AI leaders like Nvidia are explicitly bridging the two fields. Its Toronto headquarters and Canadian government ties add a North American diversification angle within a sector often dominated by U.S. players.

Retail traders have driven much of the recent volume, drawn by the narrative of quantum supremacy potentially disrupting everything from cybersecurity to materials science. Institutional interest appears to be building, though many funds remain on the sidelines pending clearer commercial traction.

At current levels near $22.68, the stock trades at a significant premium to its recent post-IPO range, reflecting both sector excitement and the inherent speculation in frontier technologies. Short-term momentum traders may ride the Nvidia wave, while longer-term believers focus on execution milestones and the eventual transition from research prototypes to revenue-generating systems.

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Xanadu’s story blends cutting-edge science with the classic challenges of bringing transformative technology to market. Its photonic platform, open software strategy and fresh public capital position it as a notable contender in the quantum race. Whether Wednesday’s surge marks the start of sustained momentum or another volatile chapter will depend on delivering against ambitious technical and commercial goals in the quarters ahead.

The broader quantum sector continues to capture imagination as AI’s limits push interest toward complementary computing paradigms. For Xanadu, the Nvidia boost provides validation and visibility at a pivotal moment. Investors will watch closely for signs that the company’s hardware-software combination can translate scientific breakthroughs into real-world advantage in an increasingly competitive field.

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Mark Mobius, pioneer of emerging markets investing, dies at 89

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Mark Mobius, pioneer of emerging markets investing, dies at 89
Mark Mobius, who put emerging markets on investors’ radar with on-the-ground insights over more than four peripatetic decades, has died. He was 89.

He died today, according to a post on his LinkedIn page attributed to his spokeswoman, Kylie Wong. John Ninia, a partner at Mobius Investments, said he died in Singapore.

In more than 30 years with Franklin Templeton Investments, officially Franklin Resources Inc., Mobius became an evangelist for money-making opportunities in Africa, Asia, Eastern Europe and Latin America. In a crowd of investing advisers, he was distinctive in part for his impeccably shaved head, which inspired the nickname Bald Eagle.

Hired in 1987 by John Templeton, a pioneer in leading American investors to companies abroad, Mobius started one of the first mutual funds dedicated to rapidly developing new markets. He oversaw the Templeton Emerging Markets Group until 2016, was lead manager of its flagship Templeton Emerging Markets Investment Trust until 2015 and retired in January 2018.

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From 1989 until his retirement, the closed-end fund returned 13.4% a year on average, according to Morningstar Direct. From 2001, when the MSCI Emerging Markets Index was introduced, the Templeton fund beat that benchmark by 1.9% a year on average, according to Morningstar.


“Mark Mobius is to emerging market investing what Colonel Sanders is to fried chicken,” Peter Douglas, a principal at the Singapore chapter of the Chartered Alternative Investment Analyst Association, said when Mobius stepped aside as portfolio manager. “He is the icon of the industry and has been the global cheerleader of emerging markets.”
Partly based in Singapore, Mobius traveled 250 to 300 days a year in a Gulfstream IV private jet, visiting factories and distributors in remote corners of the globe to identify investment opportunities. He correctly predicted the start of a bull market that began in 2009, snapped up bargains during the Asian financial crisis after Thailand floated its currency in 1997 and bought Russian stocks as panic selling took hold in Russia in 1998. He was also one of the first institutional investors to identify Africa as a promising frontier market, setting up the Templeton Africa Fund in 2012.

‘Kicking the Tires’

“I believe in getting out and kicking the tires,” he wrote in 2015. “I would rather see with my own eyes what’s happening in a company or country. Lies can be as revealing as truth, if you know what the cues are.”

Just last month, via his Substack column, he shared his thoughts on the war in Iran and its impact on equity markets.

Mobius founded London-based Mobius Capital Partners in 2018 and oversaw actively managed funds investing in emerging market equities. He left there in late 2023 but continued to seek out investing opportunities, setting up a new venture in Dubai, where he had lived for three years.

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Franklin Resources Inc. was founded in 1947 and is based in San-Mateo, California. It acquired John Templeton’s investment firm — Templeton, Galbraith & Hansberger Ltd. — in 1992 to create Franklin Templeton Investments.

Joseph Bernhard Mark Mobius was born on Aug. 17, 1936, in Bellmore, on New York’s Long Island. His German father, Paul Mobius, was a ship’s cook and baker. His mother, the former Maria Louisa Colon, was Puerto Rican. With his two brothers, Hans and Paul, Mobius grew up with German and Spanish spoken at home.

In 1955, Mobius received a scholarship to study dramatic arts at Boston University and worked as a pianist in a nightclub to help pay for his education. He earned a bachelor’s degree in fine arts and a master’s in communications.

Studied in Kyoto

He successfully applied for a scholarship to learn Japanese culture and the Japanese language in Kyoto, triggering his desire to live and work in Asia. After earning a Ph.D. in political science and economics from Massachusetts Institute of Technology, in 1964, he took a job with International Research Associates, conducting surveys and other consumer research in Thailand and Korea for a year each.

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He ended up in Hong Kong, where he started his own industrial research consulting firm. One project — a report on the Hong Kong stock market — was his entre into securities analysis. His Yul Brynner hairstyle, as he described it, was conceived at this time after a fire in his apartment damaged his hair and he shaved the rest off, according to his 1997 memoir.

He was hired by Vickers Da Costa, a UK stock brokerage, to start a Taiwanese fund management company, International Investment Trust. He traveled to the Bahamas to present investment opportunities to Templeton, who in 1986 asked if he would be interested in running an emerging markets fund. The following year they raised $100 million in capital, listed their fund on the New York Stock Exchange and opened a small office in Hong Kong for Mobius and two Chinese analysts. They began investing in six places: Hong Kong, Philippines, Singapore, Malaysia, Mexico and Thailand.

“You must remember, in those days, most countries did not welcome foreign investment,” Mobius recalled in a 2022 interview with Barry Ritholz for Bloomberg’s Masters in Business podcast series. “They were also either socialist or communist like China and Russia. Eastern Europe was out of the question, of course. So we had only six markets in which to invest, and then we started expanding. Gradually, markets opened up. And eventually we were investing in something like 70 different countries around the world.”

1987 Crash

After losing a third of his fund’s value in the October 1987 stock market crash during his first year with Templeton, Mobius diversified to other markets including Argentina, Mexico, Indonesia and Russia.

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Mobius wrote more than a dozen books on investing and economics, including The Investor’s Guide to Emerging Markets (1994) and Passport to Profits (1999). He shared rules and aphorisms including, “If you see the light at the and of the tunnel, it’s too late to buy.”

In 1999, he was tapped to serve on the World Bank’s Global Corporate Governance Forum as a co-chairman of a task force on investor responsibility.

Mobius never married. In Passport to Profits, he wrote that there were costs and benefits to being a “full-time nomad — an endangered species I’ve long admired for their fierce independence, their refusal to abide by conventional norms, their desperate desire for freedom.”

“Though some people probably pity me for having no home, no family, no domestic life to speak of,” he wrote, “my somewhat eccentric lifestyle offers untold opportunities for variety, stimulation and creativity.”

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Bringing Throne Sport Coffee to the mainstream

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Bringing Throne Sport Coffee to the mainstream

Functional coffee brand recently named Julia Perez as its chief marketing officer. 

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Is Facebook Messenger Down? Web Version Shuts Today as Meta Redirects Users to Facebook Chat in April 2026

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X, Formerly Twitter, Offers Valuable Insights Into Self-Reported Chronic Pain Using Machine Learning: Study

NEW YORK — Facebook Messenger’s standalone website messenger.com stopped functioning for messaging on April 16, 2026, as Meta Platforms Inc. completed a long-planned consolidation that forces desktop users to switch to Facebook’s integrated messaging interface at facebook.com/messages.

The change, first announced in February 2026, took effect Thursday, leaving many desktop users confused when they tried to access the familiar dedicated site and found themselves automatically redirected. Mobile apps for iOS and Android continue operating normally, but the web-only experience has ended, marking the latest step in Meta’s effort to streamline its messaging ecosystem and cut costs on separate desktop platforms.

Meta’s official help page clearly states the transition: starting April 2026, messenger.com is no longer available for messaging. Users attempting to visit the site are redirected to facebook.com/messages, where conversations sync seamlessly. The standalone Messenger desktop apps for Windows and Mac, already discontinued earlier, followed the same fate. For those who accessed Messenger without a linked Facebook account, web access is now unavailable, and they must rely on the mobile app to continue chats.

The move has sparked widespread frustration among users who preferred the clean, distraction-free interface of messenger.com. On social media and forums like Reddit, complaints poured in Thursday morning from people who opened their browsers expecting quick access to messages only to be funneled into the full Facebook experience. Many reported that the redirect works but feels slower or cluttered with news feed elements and ads.

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Downdetector and similar monitoring sites showed a spike in reports Thursday, with users noting problems accessing Messenger on Chrome and other browsers. Some described the service as “deadsies in Chrome but OK on phone,” while others simply saw the shutdown as the final nail in the coffin for the independent web version. Meta’s business status page and developer tools reported no widespread outages for the Messenger Platform itself, confirming the issue is intentional rather than a technical failure.

The decision fits Meta’s broader strategy of unifying its apps and reducing maintenance overhead. Last year the company phased out standalone Messenger desktop applications, already pushing users toward the Facebook web interface. By eliminating messenger.com, Meta simplifies its infrastructure while encouraging deeper integration within the main Facebook platform. Executives have emphasized that core messaging features — sending texts, voice notes, video calls, group chats and disappearing messages — remain fully intact across supported channels.

For most users the transition should be painless. Conversations, media and chat history sync automatically. Users can restore older chats using a PIN code on any device. The mobile apps, which handle the vast majority of Messenger traffic, are completely unaffected and continue receiving updates with new features such as improved AI-powered replies and enhanced end-to-end encryption options.

Still, the change hits certain groups harder. Power users who relied on messenger.com for work or personal separation from their Facebook feeds now face a less streamlined experience. People without Facebook accounts — a shrinking but notable segment — lose web access entirely and must download or continue using the mobile app. Business users who integrated Messenger into workflows or browser extensions may need to update bookmarks and scripts pointing to the old domain.

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Industry analysts view the shutdown as part of Meta’s ongoing efficiency drive under CEO Mark Zuckerberg. The company has faced pressure to control costs while investing heavily in artificial intelligence, the metaverse and advertising tools. Consolidating messaging reduces server overhead and development resources previously split across separate web properties. Similar moves have occurred with Instagram and WhatsApp features migrating toward unified experiences.

User reaction has been mixed but vocal. On Threads, X and Facebook groups, some welcomed the simplification, noting they already used facebook.com/messages without issues. Others expressed annoyance at losing a dedicated space, joking that Meta is slowly erasing the boundaries between its apps. Tech reviewers noted that while the functional impact is minimal for most, the symbolic loss of an independent Messenger web presence feels like another step toward tighter platform control.

Meta has not provided detailed statistics on how many users relied exclusively on messenger.com, but the volume of pre-shutdown discussions on Reddit and tech forums suggests millions accessed it regularly for quick desktop messaging. The company rolled out in-app and browser notifications months in advance, giving users time to adjust habits or export data if needed.

For those still encountering problems Thursday, basic troubleshooting steps include clearing browser cache and cookies, trying a different browser or device, or simply using the mobile app as a temporary bridge. Meta’s help center offers guides for restoring chats and managing notifications after the switch. Business and developer users should check Meta’s status page for any API-related impacts, though the core Messenger Platform shows no known issues.

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The shutdown arrives amid broader questions about Meta’s messaging strategy. With WhatsApp dominating international markets and Instagram DMs overlapping heavily with Messenger, the company continues experimenting with cross-app interoperability while maintaining separate identities. Future updates may bring even tighter integration, potentially including shared inboxes or unified notifications across Facebook, Instagram and Messenger.

As of midday April 16, 2026, the majority of users appear to have adapted quickly. Redirects function smoothly for most, and mobile usage remains stable. Any residual spikes on outage trackers likely stem from confusion rather than service failures. Meta has not commented publicly beyond its existing help documentation, a sign the company views the change as routine maintenance rather than a major disruption.

For longtime Messenger fans the day marks the quiet end of an era. Launched as a standalone app in 2011 and spun into its own web presence, Messenger once symbolized Facebook’s ambition to own communication beyond the blue social network. Today it operates more as a feature set embedded across Meta’s family of apps, reflecting a mature platform focused on efficiency over separate branding.

Travelers, remote workers and anyone who preferred keeping messaging separate from scrolling feeds will feel the shift most acutely. Many have already migrated workflows to WhatsApp, Signal or iMessage, while others simply accept the new reality and bookmark facebook.com/messages.

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Meta’s larger ecosystem remains robust. Billions of messages flow daily across its platforms with strong encryption and reliability. The company continues investing in spam detection, parental controls and AI features designed to make conversations safer and more useful.

As the dust settles on messenger.com’s final day, the episode serves as a reminder of how quickly digital habits evolve. What felt like a permanent fixture for desktop users has now joined the list of phased-out products in tech’s relentless march toward consolidation. Mobile remains king, and Facebook’s messaging hub stands ready to absorb the traffic.

Users who encounter persistent issues can visit Meta’s help center or contact support through the app. For the vast majority, however, the change is seamless: open Facebook, click Messages, and continue exactly where you left off. The conversations haven’t disappeared — they’ve simply found a new home in the heart of the world’s largest social network.

Whether this consolidation improves the experience or frustrates dedicated users will play out in the coming weeks. For now, Messenger lives on, just not quite as independently as it once did. The standalone web chapter has closed, but billions of daily chats continue uninterrupted across phones and the redirected desktop interface.

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JPMorgan, MUFG near completion of Oracle’s $38 billion data center loan – Bloomberg

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Uber: Favorable Ride Pricing Tailwinds For 2026 Underlie A Cheap Ebitda Multiple

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Uber: Favorable Ride Pricing Tailwinds For 2026 Underlie A Cheap Ebitda Multiple

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