Core Insights - Rippling, an HR software startup, raised $450 million in Series G funding, achieving a valuation of $16.8 billion, focusing on global revenue growth over immediate profitability [1][4][5] Funding and Valuation - The funding round included participation from notable investors such as Y Combinator, Elad Gil, Sands Capital, GIC, and Goldman Sachs Growth [2] - The new valuation of $16.8 billion marks an increase from the previous valuation of $13.5 billion in early 2024 [4] Employee Equity and IPO Plans - Rippling plans to repurchase up to $200 million of equity from current and former employees through a tender offer, which may become an annual event [2][3] - The CEO stated that the company does not have immediate plans for an IPO, emphasizing the need for profitability before considering going public [4][6] Business Performance and Strategy - Rippling has surpassed $100 million in annual recurring revenue and serves over 20,000 customers with a suite of more than 20 products [5] - The company is prioritizing growth over profitability, indicating a strategic choice to expand rapidly rather than slow down for immediate profit [6] Legal Challenges - Rippling is involved in ongoing legal disputes with competitor Deel, including allegations of corporate espionage, which have raised questions about competitive practices in the tech industry [7][8]

Americans have changed some of their habits when it comes to the comfort food they're turning to in darker moments. You can blame health trends, diet drugs, and changing tastes on the trend that has caused Denny's to close over 100 locations, while Cracker Barrel saw comparable-store sales drop by 7.2% in its most recent quarter. "A national consumer survey and Pinterest insights reveal that consumers are moving away from traditional comfort foods in favor of meals that are healthy, locally sourced, and ...

Market Sentiment - More than half of U.S. investors feel pessimistic about the market's future, with 50% expressing concerns, an increase from 46% last week and 35% two weeks ago [1] Market Volatility and Historical Context - The market's long-term future remains positive, but short-term volatility can lead to significant losses, as evidenced by the S&P 500 losing over 50% of its value during the Great Recession from 2007 to 2009 [3] - An investment of $10,000 in an S&P 500 ETF in December 2007 would have been worth approximately $4,600 by March 2009 [3] Investment Strategy - Losing value in the market does not equate to losing money unless investments are sold for less than their purchase price; holding investments can allow for recovery [4] - A long-term investment strategy is beneficial, as an investment of $10,000 in an S&P 500 ETF held for 10 years would have more than doubled in value [5] - The market has a strong track record of recovering from crashes and recessions, but individual stocks may not perform equally well, emphasizing the importance of investing in stable companies [6]

Company Overview - Cogent Biosciences is a biotechnology company focused on developing targeted therapies for genetically defined diseases, leveraging a focused R&D pipeline and strategic licensing partnerships to advance novel treatments for underserved patient populations [5] - The company has a market capitalization of $5.4 billion and a current stock price of $33.38, which has increased by 360% over the past year [4][6] - Cogent's lead candidate, CGT9486, targets systemic mastocytosis and gastrointestinal stromal tumors, with a business model centered on research, development, and licensing agreements [7] Investment Activity - RTW Investments disclosed a significant increase in its stake in Cogent Biosciences by acquiring 4,124,755 shares, valued at approximately $115.95 million [1][2] - Following this transaction, RTW's position in Cogent now represents 2.7% of its 13F reportable assets under management (AUM) [6] - The overall position value for Cogent increased by $219.88 million, reflecting both trading and market price changes [2] Financial Position - Cogent Biosciences ended the year with approximately $900 million on its balance sheet, providing sufficient runway into 2028 while advancing multiple regulatory filings for its lead drug [9] - The company is positioned to potentially validate years of R&D with upcoming FDA decisions, including an accepted application with a late-2026 decision timeline [9][10] Market Context - The investment in Cogent is seen as a conviction play, indicating a shift from promise to execution, with a focus on clinical success translating into commercial reality [8] - The stock's rapid ascent raises questions about whether upcoming approvals can justify its valuation and validate the extensive R&D efforts [10]

Geopolitical Developments - President Trump has ordered Israeli Prime Minister Netanyahu to cease attacks on Iranian energy infrastructure, indicating a shift in U.S. military strategy in the Middle East [1] - The U.S. has conducted strikes on over 7,000 targets in Iran and has sunk more than 120 Iranian ships, despite Trump's decision not to deploy ground forces [2] Market Predictions - Prediction markets show only a 6% chance of a U.S.-Iran ceasefire by March 31, increasing to 31% by the end of April and 52% by the end of June [4] - There is an 18% probability that U.S. forces will enter Iran before March 31, rising to 49% by April 30 and 65% by year-end [4] Energy Market Impact - Brent crude oil prices surged to $115, a 50% increase since the conflict began on February 28, with prices settling around $109 [6] - U.S. crude is trading at a significant discount of over $20 to Brent, while physical crude in Oman exceeds $150 per barrel, indicating severe market disruptions [7] - European natural gas prices have increased by 30%, contributing to what analysts describe as potentially the largest energy crisis in history [7] Strategic Considerations - The Strait of Hormuz, a critical chokepoint for global oil trade, remains effectively shut, impacting a fifth of the world's oil supply and commercial shipping [5][8] - Treasury Secretary Bessent has suggested lifting sanctions on Iranian oil tankers and utilizing the Strategic Petroleum Reserve, but these measures have not influenced market prices [8]

Core Viewpoint - RWC Asset Advisors (US) LLC has reduced its stake in Kanzhun Limited, indicating a strategic shift amidst challenging market conditions for Chinese firms, despite Kanzhun's strong business performance [2][10]. Company Overview - Kanzhun Limited is a leading provider of online recruitment solutions in China, operating the BOSS Zhipin platform to connect job seekers with employers [5][8]. - The company reported a market capitalization of $6 billion, with a revenue of $1.16 billion and a net income of $360.59 million for the trailing twelve months (TTM) [4]. Recent Transaction Details - RWC Asset Advisors sold 834,689 shares of Kanzhun Limited, valued at approximately $18.03 million based on average pricing during the quarter [1][2]. - Following the sale, Kanzhun's position in RWC's portfolio decreased from 8.96% to 5.83% of their 13F reportable assets under management (AUM) [7]. Financial Performance - Kanzhun's revenue for the full year reached about $1.18 billion, with net income increasing by 72% year over year to approximately $385 million, indicating strong operational leverage [9]. - Despite the solid financial performance, Kanzhun's shares have declined by 34% over the past year, underperforming the S&P 500, which increased by 15% during the same period [7][10]. Market Context - The reduction in Kanzhun's stake by RWC Asset Advisors reflects a broader trend of risk management in response to macroeconomic and geopolitical challenges faced by Chinese firms [10][11]. - The portfolio of RWC Asset Advisors is heavily weighted towards commodities and emerging markets, suggesting a strategic pivot away from technology firms in China until market sentiment stabilizes [11].

RTW Investments initiated a new stake in Apellis Pharmaceuticals (APLS 4.17%), acquiring 7,666,764 shares in the fourth quarter, according to a February 17, 2026, SEC filing.What happenedAn SEC filing dated February 17, 2026, shows RTW Investments opened a new position in Apellis Pharmaceuticals during the fourth quarter, buying 7,666,764 shares. The quarter-end value of the stake stood at $192.59 million, reflecting both the share addition and stock price factors.What else to knowThis was a new position fo ...

On February 17, 2026, FCPM III Services B.V. disclosed a buy of 1,489,096  RAPT Therapeutics (NASDAQ:RAPT)  shares, an estimated $46.24 million trade based on quarterly average pricing. What happened According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, FCPM III Services B.V. increased its stake in RAPT Therapeutics (NASDAQ:RAPT) by 1,489,096 shares during the fourth quarter. The estimated value of the new shares acquired was $46.24 million, based on the average unadjust ...

Core Insights - Scholastic's stock rose by 8.82% following better-than-expected quarterly results, with a more than 10% increase in stock price according to S&P Global Market Intelligence [1]. Financial Performance - In Q3 of fiscal 2026, Scholastic reported a revenue decline of 2% year over year, totaling $329.1 million, with children's book publishing and distribution sales down by 3% to $197.6 million [2]. - Education revenue also fell by 2% to $56.1 million due to funding challenges in school districts, although entertainment sales surged by 25% to $16 million [2]. - The company recorded an adjusted loss per share of $0.15, outperforming Wall Street's expectation of a loss of $0.37 per share [3]. Market Data - Scholastic's current market capitalization stands at $948 million, with a stock price range for the day between $36.94 and $38.76 [4][5]. - The stock has a 52-week range of $15.77 to $38.94, with a gross margin of 52.32% and a dividend yield of 2.15% [5]. Strategic Initiatives - The company has focused on reducing its cost structure to address sluggish sales, raising over $400 million from the sale of its headquarters and distribution center [5][6]. - Proceeds from these sales were used to pay down debt, increase cash reserves, and repurchase over $147 million of its shares, alongside a $200 million tender offer as part of a new $300 million share repurchase program [6]. - Scholastic anticipates a full-year free cash flow of $430 million to support these repurchases and dividend payments [6]. Management Outlook - CEO Peter Warwick emphasized the company's commitment to maximizing shareholder value, disciplined execution, and accelerating profitability while positioning for growth in fiscal 2027 [7].

Core Insights - Tesla has dominated the U.S. EV market, holding over 50% market share, primarily due to the popularity of the Model Y, which represents more than 70% of its vehicle sales [1][2] - Rivian's R2 SUV, launching next month, is expected to challenge Tesla's Model Y, raising questions about the competitive landscape for both companies [2][6] Market Position - Tesla's market cap exceeds $1 trillion, while most other EV companies, including Rivian, are valued below $20 billion [1] - Rivian's current market cap is approximately $19 billion, with a significant drop in stock price recently [3] Sales Performance - The Model Y was the top-selling EV in 2025, with 317,800 units sold, while the Model S was the only sedan in the top 10 best-selling EVs [3] - The majority of the top-selling EVs are SUVs, indicating a strong consumer preference for this vehicle type [3] Competitive Landscape - Tesla's Model X, a luxury SUV, has a starting price of $90,000, which limits its market appeal, and production may be discontinued [4][5] - Rivian's R2 SUV is anticipated to be a feature-rich, long-range vehicle priced under $50,000, potentially attracting a broader customer base [5] Future Outlook - Tesla's valuation is increasingly based on its potential in AI and autonomous driving rather than solely on its auto manufacturing business [7][8] - The robotaxi market, which Tesla aims to enter, could be valued between $5 trillion and $10 trillion, suggesting significant growth opportunities beyond current auto sales [8] - Both Tesla and Rivian have opportunities for success, with Rivian likely to gain market share while Tesla targets larger markets [9]