分组1 - Carrier Global (CARR) has 12 out of 22 analysts rating it a Buy with a target price of $72.85, significantly above its current share price [1] - Carrier's stock has declined over 21% year-to-date in 2025, trading at one of its lowest levels in the past two years [2] - Hormel Foods (HRL) shares are down nearly 24% year-to-date in 2025, but Q4 2025 earnings per share were $0.32, slightly above estimates [7] - Hormel's EPS estimate for fiscal 2026 is $1.47, down from $1.58 in fiscal 2024 but up 7.2% from $1.37 in 2025 [7] - Robinhood Markets (HOOD) stock has increased nearly 230% in 2025, trading at 50.8 times its latest 12-month earnings per share [10] - Robinhood's customer base has grown to 26.8 million funded accounts, a 10% increase in Q3 2025, with revenues up 100% and EPS up 259% [11] - Intercontinental Exchange (ICE) has seen its stock gain 293% since acquiring NYSE Euronext for approximately $11 billion in 2013 [14] - ICE invested $2 billion in Polymarket, a prediction markets platform, which could enhance its data offerings to institutional investors [15] - SoFi Technologies (SOFI) stock is up 78% in 2025, with 12.6 million members generating $3.29 billion in revenue [17] - SoFi has turned an operating profit of $401.1 million in the past 12 months, a significant improvement from an operating loss in 2021 [18] 分组2 - TriplePoint Venture Growth BDC (TPVG) stock is down nearly 15% in 2025 amid concerns over private credit risks [20][22] - Micron Technology (MU) reported strong Q1 2026 earnings, with revenue guidance of $18.7 billion, 30% higher than expectations [24] - Apple (AAPL) is the worst-performing stock among the "Magnificent Seven," with only a 6% increase over the past 12 months [26] - Morgan Stanley raised Apple's price target to $315, anticipating higher earnings due to increased iPhone shipments and AI investments [26] - Starbucks (SBUX) is working on a turnaround under CEO Brian Niccol, with signs of higher traffic and improved results [30] - The $12.25 ask price for Starbucks options is high at 13.9% of its closing price, but the long time until expiration allows for potential recovery [31]

Core Viewpoint - The potential merger of NYSE and TBPN is being discussed, suggesting significant implications for the financial markets and trading landscape [1] Group 1 - The combination of NYSE and TBPN could create a major player in the financial sector, referred to as a "BFD" (Big Financial Deal) [1] - This merger is expected to enhance trading capabilities and market reach, potentially leading to increased competition and innovation within the industry [1] - Analysts are speculating on the strategic benefits and market positioning that such a merger could bring to both entities [1]

Core Insights - The article emphasizes the importance of reliability in retirement portfolios, highlighting four companies that maintain steady dividends: ST Engineering, Singapore Exchange, CapitaLand Integrated Commercial Trust, and Frasers Centrepoint Trust [1] Group 1: ST Engineering (SGX: S63) - ST Engineering is Singapore's leading defense contractor with diversified commercial businesses, ensuring resilience [2] - Revenue has grown at a compound annual growth rate (CAGR) of 11.5%, from S$7.16 billion to S$11.67 billion over the last five years [2] - Net profit increased at a 9% CAGR, from S$521.8 million to S$768.6 million, with dividends raised from S$0.15 per share in 2020 to S$0.17 in 2024 [3] - The payout ratio has declined to 68.9% for the last twelve months compared to 89.6% in 2020, indicating growing earnings [3] - Long-term government contracts and recurring maintenance income contribute to its resilient income, making it suitable for retirement portfolios [4] Group 2: Singapore Exchange (SGX: S68) - SGX holds a monopolistic position in Singapore's capital markets, recording net revenue of S$1.3 billion for FY2025 [5] - Revenue is derived from four divisions: FICC (25%), Equities-Cash (30.3%), Equities-Derivatives (26.6%), and Platform and Others (18.3%) [6] - SGX has consistently paid dividends since 2001, with the latest annual dividend per share at S$0.375, yielding approximately 2.2% [6] - Future growth is expected from expanding derivatives access, new ETF listings, and sustainability products [7] - SGX demonstrates robust free cash flow of S$773.6 million and a low leverage ratio of 0.8 times, making it a solid dividend payer [8] Group 3: CapitaLand Integrated Commercial Trust (SGX: C38U) - CICT offers exposure to a diversified portfolio of prime malls and offices in Singapore, with an occupancy rate of 97.2% [9] - The REIT has shown remarkable DPU growth since its COVID low, supported by recent acquisitions and asset enhancements [10] - Management anticipates resilient DPU due to positive rental reversions and contributions from upgraded assets [11] - CICT provides stable, recurring income from prime assets, making it a core holding for retirement-focused investors [11] Group 4: Frasers Centrepoint Trust (SGX: J69U) - FCT owns suburban malls catering to everyday needs, with a strong occupancy rate of 98.1% [12] - The REIT has a resilient track record for distributions, maintaining DPU above S$0.12 per share for the past five years [13] - FCT's top tenants are defensive consumer businesses, ensuring stable sales and renewal stability [14] - The focus on consumer defensives provides steady cash flow, ideal for retirees seeking dependable income [14] Group 5: Combined Insights - The four companies provide a balanced investment approach, combining industrial, financial, and property-based income [15] - During economic downturns, these companies have either maintained or slightly reduced payouts, ensuring income stability [15] - The combination of reliability, diversification, and consistent income makes these blue-chip stocks ideal for retirement portfolios [16]

Company Valuation & Investment - Polymarket估值达到 90 亿美元 [1] - 洲际交易所 (ICE) 投资 20 亿美元后，Polymarket 估值达到 90 亿美元 [1] Key Personnel - Shayne Coplan 在 Polymarket 估值达到 90 亿美元后，加入了亿万富翁俱乐部 [1]

Regulatory Landscape - Russia's largest exchange is advocating for the removal of the ban on retail Bitcoin trading [1]

IPO Status - National Stock Exchange of India (NSE) is waiting for a response from the market regulator regarding its settlement offer [1] - The settlement aims to resolve long-pending cases [1] - A successful settlement could pave the way for NSE's long-delayed IPO [1]