Stocks have bounced off recent lows this week as the market tries to stabilize after the sell-off triggered by the Iran war and rising oil prices. Bank of America is warning investors not to read too much into that rebound. In his March 17 Global Fund Manager Survey note, BofA chief investment strategist Michael Hartnett said the bank's positioning metrics are "far from uber-bear levels seen at recent big lows/good entry points for stocks and credit," per CNBC. In other words, the kind of capitulation tha ...

Dragosch explained that over the longer term, geopolitical conflicts raise prospects of higher inflation rates globally due to increased fiscal spending, looser monetary policy, and commodity price spikes, all of which benefit Bitcoin.The 2026 correlation data paints a sobering picture: Bitcoin’s correlation with gold turned negative at -0.27, while correlation with the Nasdaq surged to 0.75. Institutional risk models now treat Bitcoin as commodified risk rather than digital gold.BTC initially dropped from ...

4 th Quarter 2025 Results Presentation | 4Q 2025 Results 1 | 4Q 2025 Results 2 Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute either advice or a recommendation re ...

Core Insights - RTX and Northrop Grumman reported strong quarterly earnings, with RTX exceeding estimates and Northrop Grumman also beating expectations but falling short on earnings guidance and free cash flow outlook [1] - The defense sector is experiencing growth due to rising geopolitical tensions and significant budget proposals, which are positively impacting defense stocks [1] Company Performance - RTX advanced after surpassing quarterly earnings estimates [1] - Northrop Grumman's stock rose into a buy zone following its earnings report, despite its guidance and free cash flow outlook being below expectations [1] - General Dynamics is set to release its results on Wednesday, followed by Lockheed Martin on Thursday, indicating ongoing activity in the defense sector [1] Market Trends - Defense stocks are benefiting from increased geopolitical conflicts and proposals for substantial budget increases, which are expected to support the sector's growth [1] - Lockheed Martin has received a Relative Strength Rating upgrade, indicating improved technical performance [1] - Northrop Grumman's stock has shown rising price performance, achieving an all-time high and receiving a rating upgrade [1]

Core Viewpoint - Shares of defense companies Lockheed Martin Corp (LMT) and Huntington Ingalls Industries Inc (HII) have risen following the U.S. attack on Venezuela and the capture of leader Nicolás Maduro, with Wall Street betting on limited geopolitical escalation [1] Group 1: Stock Performance - LMT shares increased by 2.1%, trading at $507.57, with a 17.7% gain over the past nine months, bouncing off the $480 support level [2] - HII shares rose by 4%, trading at $363.86, reaching a record high of $365.92, and achieving an 80% gain for 2025, marking its best annual performance since 2013, with over 98% increase in the last nine months [3] Group 2: Options Activity - Both LMT and HII are experiencing unusual options activity, with LMT seeing double the typical call volume and HII seeing triple [4][5] - The most active options for LMT is the weekly 1/9 500-strike put, while for HII, it is the June 460 call, with new positions being opened in both [4][5]

Financial Performance & Contract Coverage - Revenue for 9M 2025 increased to $575.5 million from $528.6 million in 9M 2024[15, 28] - Net income for 9M 2025 increased to $306.7 million from $253.9 million in 9M 2024[15, 28] - Adjusted EBITDA for 9M 2025 increased to $396.7 million from $371.1 million in 9M 2024[15, 28] - $778 million in contracted revenues were added in 9M 2025[15, 20] - Contract cover stands at 100% for 2025, 96% for 2026, and 74% for 2027[15] - Contracted revenues as of September 30, 2025, totaled $1.92 billion[20] Capital Allocation & Balance Sheet - The annualized dividend is set to increase to $2.50 per share[15, 22] - $33.0 million remains authorized for opportunistic share buy-backs[22, 23, 28] - The weighted average cost of debt is 4.34%, with a weighted average maturity of 4.7 years[28, 71] - SOFR is capped at 0.64% for approximately 76% of floating rate debt[28, 29, 38, 71] - Average break-even rates have been reduced to $9,578 per vessel per day[71] Market Dynamics & Strategy - Approximately 74% of global containerized trade volume occurs in non-Mainlane trades, which are predominantly served by mid-sized & smaller ships[44] - Red Sea disruption has absorbed approximately 10% of effective global capacity[46]

All right, Jeeoff, we got to start here. Has the thesis changed at all with everything that's going on in the Middle East. I I have a feeling that you researched and put this piece together before all this quite ramped up.Yes, you're absolutely right, Frank. And it is tough from a micro perspective to look at every tweet that comes out. It seems like the market is kind of tilting hour by hour, but I think in the bigger picture, this March higher to retest these S&P 500 all-time highs is underway.Call it a m ...

Financial Performance - Revenue increased to $191 million in 1Q 2025, up from $179.6 million in 1Q 2024[16, 27] - Net income increased to $121 million in 1Q 2025, up from $89.5 million in 1Q 2024[16, 27] - Adjusted EBITDA increased to $132.3 million in 1Q 2025, up from $125.4 million in 1Q 2024[16, 27] - Normalized net income increased to $94.3 million in 1Q 2025, up from $89.1 million in 1Q 2024[16, 27] Contract Coverage and Revenue - $352 million in contracted revenues were added in 1Q 2025[16, 20, 66] - Contract cover is 93% for 2025 and 75% for 2026[16] - Contracted revenues as of March 31, 2025, were $1.87 billion with an average remaining contract cover of 2.3 years[20] Capital Allocation and Debt Management - The annualized dividend increased to $2.10 per share[16, 21, 22, 66] - $85 million re-fi pushes weighted average debt maturity to 5.1 years & cost to 3.99%[27, 66] - Average break-even cash flows reduced to $9,314 per vessel per day[66] Fleet and Market Dynamics - Sub-10,000 TEU vessels are the focus, serving non-mainlane trades which constitute approximately 74% of global containerized trade volume[43] - Red Sea disruption has absorbed approximately 10% of effective global capacity[45] - The orderbook to fleet ratio for the company's focus segments (2,000 – 9,999 TEU) is 11.5%[63]