I analyze oil and gas companies like Cenovus Energy and related companies in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position, and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first, and they get analysis on some companies that is not published on the free site. Interested? Sign up ...

CHINA - 2023/11/03: In this photo illustration, the American semiconductor corporation Applied Materials (NASDAQ: AMAT) logo seen displayed on a smartphone with an Artificial intelligence (AI) chip and symbol in the background. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Applied Materials (NASDAQ:AMAT) is scheduled to announce its Q3 FY’25 earnings on Thursday, August 14, 2025 (October year). Earnings are expected to reach approxima ...

CHONGQING, CHINA - JULY 27: In this photo illustration, a person holds a smartphone displaying the logo of UnitedHealth Group Incorporated (NYSE: UNH), a leading American healthcare and insurance company, with the company's blue UHG branding visible in the background, on July 27, 2025 in Chongqing, China. (Photo illustration by Cheng Xin/Getty Images)Getty ImagesUnitedHealth Group’s stock has suffered a steep decline, dropping from around $600 in April of this year to its current price near $260 — an astoni ...

I don't like distributions funded by returns of capital. It is entirely possible that this is just one of my little foibles - prejudices if you like - and that there are good reasons for itTim Worstall is a wholesaler of rare earth metals and one of the global experts in the metal scandium. He is also a Fellow at the Adam Smith Inst in London and an writer for a number of media outlets, including The Times (London), Telegraph, The Register and even, very occasionally indeed, for the WSJ. This account is lin ...

Core Insights - SiriusPoint Ltd. reported strong second quarter results, highlighting the effectiveness of its disciplined underwriting strategy, with an underlying return on equity of 17.0% for the quarter and 15.4% for the half year, both exceeding the target range of 12-15% [1][5][6] Financial Performance - The Core combined ratio for the second quarter was 89.5%, improving by 3.8 points year-over-year, while the half-year Core combined ratio remained flat despite increased volatility from aviation losses and wildfires [2][5] - Gross premiums written increased by 10% year-over-year, reaching $930.1 million for the second quarter, marking the fifth consecutive quarter of double-digit growth [2][14] - Underwriting income for the Core business grew by 83% year-over-year to $68 million in the second quarter [5][15] - Diluted earnings per common share were $0.50, with underlying earnings per share of $0.66, representing a 120% increase from the prior year [5][6] Segment Performance - The Insurance & Services segment generated gross premiums written of $560.4 million for the second quarter, a 14.3% increase compared to the same period last year, driven by growth in Surety and A&H [22][23] - The Reinsurance segment saw gross premiums written of $369.7 million for the second quarter, an increase of 4.9% year-over-year, primarily due to increased premiums in credit [28][29] Investment Results - Net investment income for the second quarter was $68.2 million, with total investment results reaching $68.9 million [6][33] - The company experienced a year-over-year increase in net investment income and net realized and unrealized investment gains, recovering from losses on strategic investments in the previous year [33][34] Operational Highlights - SiriusPoint was recognized as Program Insurer of the Year in the US and achieved record scores in its employee engagement survey, indicating strong organizational momentum [3][5] - The company attracted key talent to its executive leadership team, further enhancing its operational capabilities [3]

Group 1 - Bristol-Myers Squibb (BMY) is facing pressure from plans to reduce U.S. drug prices, which is seen as a significant risk for the company [2] - The company has a long position in its own shares, indicating confidence in its stock performance despite external pressures [3] - The Value Portfolio focuses on building retirement portfolios through a fact-based research strategy, which includes analyzing 10Ks, market reports, and investor presentations [2] Group 2 - The political pressure regarding drug pricing is increasing, which could impact the pharmaceutical industry significantly [2]

Core Viewpoint - The Utilities Select Sector SPDR ETF (XLU) has reached a 52-week high and has increased by 21.5% from its 52-week low price of $71.02 per share, indicating strong momentum in the utility sector [1]. Group 1: ETF Overview - XLU aims to represent the Utilities sector of the S&P 500 Index and charges 8 basis points in annual fees [2]. Group 2: Market Dynamics - The utility sector is gaining attention as investors seek safety in defensive investments amid uncertain trade policies, making it a low-beta sector that is less susceptible to significant market fluctuations [3]. Group 3: Performance Outlook - XLU is expected to maintain its strong performance in the near term, supported by a positive weighted alpha of 16.73, suggesting potential for further gains [4].

Core Insights - Seagate (NASDAQ: STX) is experiencing a resurgence in customer demand, with quarterly revenue increasing by 30% [1] - The company's profit margins have reached a historic high, indicating strong operational efficiency [1] - Seagate's shares are currently trading at approximately 15 times profit, which is significantly lower than their historical average [1] Financial Performance - Revenue for the quarter rose by 30% compared to previous periods [1] - Margins have achieved a historic high, reflecting improved profitability [1] - Current share trading multiples are around 15x profit, suggesting potential undervaluation [1]

Core Insights - Waters Corporation reported second quarter 2025 sales of $771 million, reflecting a 9% increase as reported and an 8% increase in constant currency compared to $709 million in the same quarter of 2024 [1][13] - The diluted earnings per share (EPS) for the second quarter of 2025 was $2.47, up from $2.40 in the second quarter of 2024, while non-GAAP EPS grew 12% to $2.95 from $2.63 [2][13] - The company is raising its full-year 2025 sales growth guidance to a range of +5.5% to +7.5% in constant currency and +5.0% to +7.0% reported [4][5] Financial Performance - The company achieved a net income of $147.1 million for the second quarter of 2025, compared to $142.7 million in the same quarter of 2024 [18] - Recurring revenue grew 11% in constant currency, with service growth at 9% and double-digit growth in chemistry [13] - The company reported operating income of $188.2 million for the second quarter of 2025, slightly down from $189.1 million in the same quarter of 2024 [17] Market and Product Insights - Instrument sales grew mid-single digits in constant currency, driven by high-single-digit growth in liquid chromatography (LC) and mass spectrometry (MS) [13] - The pharmaceutical market grew 11% in constant currency, while the industrial market grew 6%, and academic & government declined by 3% [13] - The company noted strong instrument replacement trends, particularly among large pharmaceutical and contract development and manufacturing organization (CDMO) customers [3] Guidance and Future Outlook - For the third quarter of 2025, the company expects constant currency sales growth in the range of +5.0% to +7.0% and reported sales growth of +4.5% to +6.5% [6] - Non-GAAP EPS for the third quarter of 2025 is projected to be in the range of $3.15 to $3.25, reflecting year-over-year growth of approximately +8% to +11% [6] - The company is well-positioned for future growth, particularly through its combination with BD Biosciences & Diagnostic Solutions, which is expected to enhance its strategy in high-growth adjacencies [3]

Core Insights - The broader stock market experienced significant losses due to trade policy changes and negative economic data, while select health technology stocks, including 4D Molecular Therapeutics, Sensei Biotherapeutics, and Alphatec Holdings, saw substantial gains averaging around 37% [1] Group 1: 4D Molecular Therapeutics - Shares of 4D Molecular Therapeutics surged over 42% to close at $6.42 following the release of promising clinical data for its gene therapy candidate, 4D-150, targeting diabetic macular edema and wet age-related macular degeneration [2] - The therapy showed strong, dose-dependent results, with a reported 78% reduction in treatment burden at the Phase 3 dose compared to standard aflibercept dosing, along with sustained visual improvements and no reported inflammation [4] - The European Medicines Agency endorsed the company's plan to seek approval based on a single Phase 3 trial, aligning with earlier FDA guidance [5] Group 2: Sensei Biotherapeutics - Sensei Biotherapeutics emerged as a top gainer despite no major company-specific news, likely due to increased speculative interest in its immuno-oncology pipeline and anticipation of upcoming trial data [6] - The stock rose 38% to close at $10.32, following the announcement that Sensei will present clinical data from its Phase 1/2 trial of its lead candidate at the European Society for Medical Oncology Congress on October 17 [7] Group 3: Alphatec Holdings - Alphatec Holdings' stock jumped 30% to close at $13.77 after the company raised its full-year 2025 revenue outlook to $742 million, driven by strong demand for its surgical platforms and EOS imaging technologies [9] - The company reported second-quarter 2025 revenue of $185.5 million, reflecting a 28% year-over-year increase, although it also reported a widened net loss of $41.1 million, or $0.27 per share [11] - Despite remaining unprofitable, investor confidence appears to be increasing in Alphatec's commercial execution and long-term growth prospects [12]