Markets

He Cashed Out All His Nvidia Shares To Buy An $1K Engagement Ring. He Was 'Thrilled At The Time,' But The Numbers Today Are Staggering

Adrian Volenik — Thu, 04 Jun 2026 17:30:40 +0000

One investor recently shared how he sold all of his Nvidia (NASDAQ:NVDA) shares while still in college in order to buy an engagement ring for the woman who would become his wife. According to a screenshot he posted on Reddit, he sold 67 shares of Nvidia in April 2003 for about $972 and used the money to purchase a $1,000 ring.

More than 23 years later, those same shares would be worth roughly $1.88 million after the chip giant’s extraordinary rise and multiple stock splits. The eye-popping figure quickly drew attention online, with many weighing in on whether the trade was brilliant, painful or somehow both at the same time.

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The Million-Dollar Ring

The investor made it clear that despite the staggering numbers, he wasn’t posting out of regret.

“It was worth every penny,” he wrote. “Still happily married and wouldn’t have it any other way. Not every opportunity cost is a bad thing. Sometimes what you get in return is worth much more.”

In another reply, he revealed how he felt when he made the decision back in 2003.

“I was actually thrilled at the time,” he said. “Think my average cost was around $8.50, so I was sitting on big gains from my perspective!”

That comment struck a chord with many readers because it highlighted a reality that often gets lost when people look back at successful investments. At the time, he wasn’t choosing between a $1,000 ring and nearly $2 million. He was choosing between a relatively small stock position and proposing to the woman he loved.

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The investor later explained that his wife already knows the story and now jokingly refers to the jewelry as the “million-dollar ring.”

Many commenters compared the situation to famous stories involving Bitcoin purchases that later became worth fortunes, such as the widely cited case of a programmer spending 10,000 Bitcoin on two pizzas in 2010. Others argued that the comparison isn’t entirely fair because the investor received something meaningful in return and remains happily married more than two decades later.

Most People Think He Would Have Sold Anyway

A common point raised in the discussion was that very few investors would’ve ...

Full story available on Benzinga.com

Bitcoin Has Dumped Every Day Since Michael Saylor Announced He Sold: What Is Going On?

Daragh Thomas — Thu, 04 Jun 2026 17:26:32 +0000

Michael Saylor told his followers to never sell their Bitcoin (CRYPTO: BTC). But his company did, and Bitcoin has been sliding every day since.

Bitcoin was trading around $64,000 on Wednesday, down 30% on the year and roughly half off its October peak above $126,000.

Strategy (NASDAQ:MSTR) disclosed Monday that it sold 32 Bitcoin last week for $2.5 million, the company’s first sale since the 2022 crypto winter. The amount is roughly 0.004% of Strategy’s 843,000 Bitcoin treasury, with proceeds reportedly funding distributions on its preferred stock.

TD Cowen analyst Lance Vitanza called the sale immaterial, telling CoinDesk the Bitcoin-reduction narrative is misleading given the scale of Strategy’s holdings. Strategy shares still dropped 7% Wednesday.

Peter Schiff declared this week that the “death spiral has officially begun” after Strategy’s preferred stock

Full story available on Benzinga.com

Heidmar CEO Sees Tanker Rally Extending Into 2027

Capital Link — Thu, 04 Jun 2026 17:25:18 +0000

In this episode of Capital Link's webinar series Mr. Pankaj Khanna, CEO of Heidmar Maritime Holdings (NASDAQ:HMR), discussed the company’s strong Q1 2026 performance witnessing over 200% year-over-year revenue growth.

He outlined a multi-year growth strategy based on scaling commercial and technical management services, leveraging AI for operational efficiency, and capturing opportunities from sanctions on 1,000 vessels that will require replacement.

War’s Impact Not Yet Reflected in Q1

Discussing Heidmar's recent results, Mr. Khanna disclosed the previous year had been vastly different as it had been affected by restructuring activities related to the company’s reverse merger and public listing.

According to Mr. Khanna, this year, growth came from two primary areas. The first was Heidmar’s fee-based commercial and technical management activities. The second was proprietary vessel trading. During the quarter, the company operated eight to nine vessels in proprietary trading while also expanding its managed fleet.

A Long-Term Fleet Transformation

When asked about the sustainability of growth, Mr. Khanna described Heidmar as being in the scaling phase of a long-term transformation. He explained that when he took over six years ago, ...
Full story available on Benzinga.com

Stock Market Today: Nasdaq 100 Slips As Broadcom Plunges, Bitcoin Hits 4-Month Lows

Piero Cingari — Thu, 04 Jun 2026 17:09:46 +0000

A selloff in high-flying chipmakers split Wall Street on Thursday, with Broadcom Inc. (NASDAQ:AVGO)‘s disappointing AI-revenue forecast testing the artificial-intelligence trade that has carried equities to records.

The Nasdaq 100 slipped while the Dow Jones rallied more than 800 points on defensive and financial leadership, leaving the S&P 500 slightly above the flatline by midday.

On the Middle East front, hopes that an Israel-Lebanon ceasefire could clear the path to a broader Iran deal pulled crude lower. West Texas Intermediate crude fell about 3.3% to roughly $92.87 a barrel, while Brent slid 2.8% to near $95.06. The retreat in energy prices offered relief to Treasuries even as traders kept one eye on Friday’s May payrolls report.

The S&P 500 added 0.2% to 7,568.56, while the Dow Jones Industrial Average advanced 863 points, or 1.7%, to 51,550.63.

The Nasdaq 100 fell 0.7% to 30,355.45, weighed down by the chip complex.

Broadcom Inc. cratered nearly 15% despite topping estimates with adjusted earnings of $2.44 per share, as its AI-chip revenue outlook fell short of the market’s lofty expectations.

Gold drew safe-haven and weaker-dollar support, rising 1.0% to about $4,477 an ounce.

Bitcoin (CRYPTO: BTC) fell for the fifth straight session, down by 0.6%. The biggest cryptocurrency hit an intraday low at $61,310, marking the lowest levels since February 6, 2026.

Thursday’s Performance In Major US Indices

Index Last % Change MTD YTD

S&P 500 7,568.56 +0.2% -0.1% +10.7%

Dow Jones 51,550.63 +1.7% +0.9% +7.3%

Nasdaq 100 30,355.45 -0.7% -1.0% +15.0%

Russell 2000 2,925.95 +1.1% +0.8% +3.8%

Updated by 12:10 PM ET

According to the Benzinga Pro platform:

The Vanguard S&P 500 ETF (NYSE:VOO) edged up 0.2%.

The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) rose 1.7%.

The Invesco QQQ Trust (NASDAQ:QQQ) slid 0.7%.

The iShares ...
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Ramp Reaches $44 Billion Valuation, Expands Push Into AI-Powered Finance

Caroline Ryan — Thu, 04 Jun 2026 16:55:42 +0000

New York-based fintech startup Ramp has closed its $750 million Series F funding round, putting the company's valuation at $44 billion. The new capital will be used to further expand its AI-focused product development for customers.

The round was led by ICONIQ, GIC and Ontario Teachers' Pension Plan. Ramp also named Goldman Sachs Alternatives, D.E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners and BroadLight Capital as new backers in the deal.

Existing investors that also participated included Founders Fund, Lightspeed Venture Partners, D1 Capital Partners, T. Rowe Price, General Catalyst, Alpha Wave Global, 137 Ventures, Thrive Capital, Coatue, Sands Capital, Khosla Ventures, 1789 Capital, Avenir Growth, BoxGroup, 8VC, Pinegrove Venture Partners, Definition Capital and Stripes.

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Ramp tied the financing to what it describes as a new category of corporate expense: AI usage billed per token.

"For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived — intelligence, paid by the token and invisible to every system we’ve built to manage cost. Ramp is the infrastructure for the third pillar," CEO Eric Glyman said.

The company said its total payment volume rose about 170% year over year ...
Full story available on Benzinga.com

They Worked Average-Paying Public Service Jobs Their Entire Careers. Now They're Retiring At 50. 'No Side Hustles, No Inheritance, No Tech Salary'

Adrian Volenik — Thu, 04 Jun 2026 16:31:06 +0000

For many people pursuing financial independence, the success stories often seem to involve six-figure tech salaries, booming businesses, real estate portfolios, or family wealth. But one public service worker says his family’s path to early retirement looked much different.

In a recent discussion on a Reddit forum, the soon-to-be retiree shared how he and his wife built a seven-figure net worth while working government jobs and raising a child. As he put it, they had “No side hustles, no inheritance, no tech salary.”

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One Decision Changed Everything

The poster said the turning point came when he and his wife got married in 2020 and made a simple agreement: they would live entirely on his salary and invest hers.

“That’s it,” he wrote. “That’s the move. Everything else is just math.”

The couple didn’t start from scratch. Both already had retirement accounts from years of government service, along with some savings. What they lacked, according to the poster, was a plan.

At the time, their combined income was around $90,000 annually. Today, they earn roughly $130,000 combined. Instead of increasing their lifestyle as their income grew, they directed raises and extra income into investments.

The family lives in a modest home purchased with a low-interest mortgage, owns a single vehicle and has avoided consumer debt. They also focused heavily on retirement accounts, health savings accounts and a taxable brokerage account.

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The strategy appears to have paid off. The poster said the couple’s net worth is now approximately $1.2 million excluding their home and more than $1.5 million when home equity is included.

“Our spend now is around $4K a month avg,” he said.

Building Wealth Without A Pension

Many readers assumed a government employee retiring early would have a pension waiting. The poster clarified that wasn’t the case.

“Unfortunately, I have no pension,” he wrote. “Just a 401(a). My bridge accounts. ROTHs and HSAs.”

He explained that he plans to retire around age 50 while his wife continues working because she enjoys her career. Her income will cover everyday expenses and health insurance, while he uses a taxable brokerage account to bridge the gap until ...
Full story available on Benzinga.com

Why Tempus AI Stock Is Surging On Thursday?

Kaustubh Bagalkote — Thu, 04 Jun 2026 16:30:48 +0000

Tempus AI Inc. (NASDAQ:TEM) stock surged on Thursday. The sharp upward price action follows a major company announcement made on Wednesday, which triggered heavy buying momentum.

Digital Pathology Consortium Sparks Momentum

The primary catalyst behind the stock rally is the launch of a first-of-its-kind digital pathology open-source consortium.

Named the IMS Open-Source Consortium, the initiative aims to accelerate the democratization and standardization of digital pathology. Tempus AI is spearheading the collaborative project alongside pioneering founding academic members Yale New Haven Hospital (YNHH) and Memorial Sloan Kettering Cancer Center (MSK).

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Open-Source Tech Seeds Ecosystem

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Transcript: Toro Q2 2026 Earnings Conference Call

Benzinga Insights — Thu, 04 Jun 2026 16:10:26 +0000

On Thursday, Toro (NYSE:TTC) discussed second-quarter financial results during its earnings call. The full transcript is provided below.

This transcript is brought to you by Benzinga APIs. For real-time access to our entire catalog, please visit https://www.benzinga.com/apis/ for a consultation.

The full earnings call is available at https://edge.media-server.com/mmc/p/7ubaiokx/

Summary

The Toro Company reported an 8% increase in second-quarter sales and a 13% increase in adjusted EPS to $1.60, driven by strong demand and improved margins.

Professional segment sales grew by 9%, with notable strength in golf and grounds, landscape contractor, and underground and specialty construction.

The company raised full-year guidance, expecting sales growth between 4% and 6.5% and adjusted EPS between $4.50 and $4.62.

Operational highlights include the success of the JT120 horizontal directional drill and the Orange Intel fleet management system.

Management emphasized the success of the AMP productivity program, contributing to significant margin improvements and free cash flow of $266 million.

The integration of Tornado is progressing well, with notable growth in the soft excavation market supporting the company's strategic initiatives.

The company remains focused on operational excellence and technology integration, including advances in electrification, AI, and autonomous solutions.

Full Transcript

OPERATOR

Good day ladies and gentlemen and welcome to the The Toro Company second quarter earnings conference call. My name is Josh and I will be your coordinator for today. At this time, all participants are in a listen-only mode. We will be facilitating a question and answer session towards the end of today's conference. As a reminder, this conference is being recorded for replay purposes. I would now like to turn the presentation over to your host for today's conference, Heather Hilley, Vice President, Corporate Affairs and Investor Relations.

Please proceed. Ms. Hilley

Heather Hilley (Vice President, Corporate Affairs and Investor Relations)

Good morning everyone and thank you for joining us for the Toro Company second quarter 2026 earnings conference call. I'm Heather Hilley, Vice President of Corporate Affairs and Investor Relations. On the line with me today are Rick Olson, Chairman and Chief Executive Officer, Edric Funk, President and Chief Operating Officer, and Angie Drake, Vice President and Chief Financial Officer. Rick, Edric, and Angie will provide an overview of our second quarter results which were released earlier this morning and discuss our priorities and outlook for the remainder of fiscal 2026.

Following their remarks, we'll open the phone lines for a question and answer session. Before we begin, please note that any forward looking statements made today are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks are detailed in our earnings release, investor presentation, and our most recent filings with the SEC. During our remarks we will also reference certain non-GAAP financial measures.

We believe these metrics provide useful insight into the company's performance. Reconciliations to the most directly comparable GAAP measures can be found in this morning's press release. Both the release and our second quarter supplemental presentation are available in the investor information section of our corporate website. With that, I will now turn the call over to Rick.

Rick Olson (Chairman and Chief Executive Officer)

Thank you Heather and good morning everyone. The Toro Company continued its strong start to the year exceeding expectations with second quarter top line growth of 8 percent and adjusted EPS of $1.60 USD. This is the second consecutive quarter of double digit adjusted earnings growth driven by strong demand and improving margins. We remain focused on our key strategic priorities. Accelerating profitable growth, driving productivity and operational excellence, and empowering people.

This disciplined approach is delivering results. Demand was broad based across our portfolio. Residential net sales grew 4% and professional net sales grew by 9%. Within professional we drove mid single digit sales growth in golf and grounds, high single-digit sales growth in landscape contractor. We are particularly excited to have achieved low double-digit organic sales growth in underground and specialty construction. A key highlight in underground construction continues to be the JT120® horizontal directional drill.

Designed for maximum uptime, it features advanced capabilities that increase operator efficiency and job site safety. It is built to handle long bores and difficult terrain with ease and customer response has been strong with a robust and growing order pipeline. At ConExpo in March, we highlighted another example of customer driven innovation. Orange Intel® is a customizable fleet management and job site intelligence system. It provides Ditch Witch® customers with the ability to optimize productivity, manage maintenance and uptime, enhance security and integrate all this information across the full job life cycle.

We are helping our customers leverage job site data as a critical enabler to improve their productivity and profitability. Our integration of Tornado is progressing well. Growth is slightly better than anticipated, contributing over 2 percentage points to top line sales. We see a long runway of growth for this business as the need for soft excavation is significant and growing. An increasing number of states and countries have requirements around safely uncovering underground utilities.

We expect this trend to continue as the ability to mitigate infrastructure damage during excavation gains awareness. Moving on to landscape contractors, after a more normal snow season, they entered Q2 in a healthy position. This helped drive strength across our Toro Company, Exmark® and Ventrac® brands. Spring conditions were more typical this year which provided a favorable year over year comparison to the late spring last year where some second quarter sales fell into the third quarter due to the delayed timing of spring.

In golf, strength continues to come from our core products greens mowers, fairway mowers, and contour rotary mowers. While we are still in the early stages of growth with our autonomous portfolio, customers continue to recognize how our suite of solutions complements their existing fleets, increases productivity, and unlocks new efficiencies in their labor force. Looking at the results across our portfolio, it was particularly impressive that the team achieved our second quarter performance despite macroeconomic and geopolitical headwinds and increased inflationary pressures.

In this dynamic environment, we continue to strengthen our capabilities with a specific focus on productivity and operational excellence. As a result, in Q2, residential margins significantly improved to nearly 10% and pro margins improved to over 20%. At the center of this improvement is our AMP program launched in the beginning of fiscal 2024. AMP® continues to exceed expectations, reinforcing a productivity mindset across the company. We accomplished all of this while reducing our field inventory, which remains healthy in the professional segment.

With underground and golf, largely normalized inventory levels for landscape contractor and residential are somewhat below our desired levels as we work to meet pockets of elevated demand, particularly for zero turn mowers. Taking everything into account, healthy demand, improved lead times, normalized field inventories, and expanding margins, we are raising our full year guidance. We now expect full year sales growth in the range of 4 percent to 6.5 percent and adjusted EPS in the range of $4.50 USD to $4.62 USD.

Our performance in the first half of 2026 increases our confidence in our ability to deliver strong results for the full year, even in a dynamic external environment. With that, I'll turn the call over to Angie for more details on the quarter and our outlook.

Angie Drake (Vice President and Chief Financial Officer)

Thank you Rick the team's strong execution in the second quarter drove better than expected results. Top line sales were $1.42 billion, up 8.1% or 5.7% organically. This growth, combined with our focus on productivity and operational excellence, drove adjusted operating margins of 14.4 percent, up 70 basis points increase. This represents our highest operating margin in the past 12 quarters and reflects the impact of our AMP® productivity program.

Our strategic facility closures, reductions in salaried workforce and divestitures of non core businesses and product lines have contributed to this strong margin improvement. As we reduce costs and improve efficiencies through amp, we are also investing in the business. One example is our new paint system at the Perry, Oklahoma facility which will increase efficiency and capacity to support the strong demand in the underground construction market.

Working capital improvements drove free cash flow (FCF) of $266 million, an increase of $181 million year over year, primarily due to lower inventory levels. Free cash flow conversion was 125%. This continues our strong track record of cash generation and enabled US to return $361 million to shareholders through share repurchases and dividends in the first half of the year. And finally, our second quarter adjusted tax rate was 21.7 percent, 300 basis points higher than last year, driven by the geographic mix of earnings.

As a net result for the second quarter, we increased adjusted EPS 13% to $1.60. This strong result was better than expected and driven by professional segment volume and profitability. Now let me dive deeper into each segment. Professional segment net sales in the second quarter were 1.1 billion, up 9.1% or 6% organically. Professional segment earnings were $224 million at a margin of 20.3%, up 40 basis points. This was driven by volume, productivity and net price realization, partially offset by material cost.

Residential segment net sales in the second quarter were $310 million, up 4.1% organically. Residential segment earnings were 30 million and margins were up 430 basis points to 9.8%. This was driven by net price realization, productivity and volume partially offset by material, manufacturing and freight costs. In addition to strong operational execution across both segments, our financial management of the balance sheet continues to provide us with optionality as demonstrated by our leverage ratio of 1.4.

Looking forward, we will continue to focus on driving top line growth and productivity as we navigate the uncertain macroeconomic and geopolitical environment. Our strong performance in the second quarter gives us the confidence to raise our guidance. We now expect top line growth of 4% to 6.5% versus our prior guidance of 3% to 6.5%. This reflects strength in our professional segment which we now expect to grow in the range of 5% to 7% for the year.

After a strong second quarter, the outlook for full year residential sales growth has improved and we expect it to be about flat even as consumer confidence and inflation continue to be challenging. We are raising full year adjusted earnings per share to be in the range of $4.50 to $4.62, up from the prior range of 440 to 460. This tighter range and higher midpoint reflect our outperformance in the first half of the year and reduced downside risk.

Let me take a moment to share the drivers of this increase by walking from our previous guidance midpoint of $4.50 to our new guidance midpoint of $4.56. We are flowing through our second quarter beat of $0.10 per share and factoring in new headwinds from material and fuel inflation. We estimate the impact from inflation will be approximately $0.16 per share. This is offset by planned productivity and pricing actions driving approximately 16 cents of favorability.

In addition, tax is trending higher for the year due to our geographic mix of earnings or an approximate 4 cent impact to EPS. All of these factors result in the 6 cent increase to our midpoint. We have also evaluated the impact of the April 6 changes for Section 232 tariffs and the benefit of anticipated tariff refunds. Since the vast majority of our manufacturing occurs within the United States, the net impact of these two items would be negligible to our full year guidance.

We continue to evaluate the most recent changes to the tariff landscape, including the news from earlier this week. For the third quarter, we expect total company sales to be up mid single digits. We expect professional to be up mid single digits and residential to be up low single digits. Keep in mind that year over year comparisons are impacted by a late spring last year that shifted sales from Q2 into Q3. Also, Q2 is typically our peak margin quarter as it has the highest volume best factory utilization and a favorable sales mix.

We anticipate normal seasonality this year with Q3 total company margins lower than Q2. Pressures from inflation and tariffs will be more acute in Q3 as the mitigation actions we're taking will not be fully in place until Q4 and we are monitoring weather conditions across the country where a strong start to spring has given way to potential drought conditions in some key markets. As a result of these factors, we expect third quarter total company adjusted EPS up mid single digits.

The main driver for this adjusted EPS growth rate is a higher year over year tax rate and the comparison versus a strong Q3 last year. The team is executing well. We are driving productivity through our AMP initiative and taking advantage of strong demand across the portfolio for the full year. We now expect high single digit adjusted EPS growth and free cash flow (FCF) conversions of at least 120%. Now I'll turn the call over to EDRIC to highlight the progress we are making on operational excellence.

Edric Funk (President and Chief Operating Officer)

Thank you Angie. As you heard, we delivered our highest operating margin level in three years through a relentless focus on productivity and operational excellence. We'll continue to drive meaningful gains through our AMP program by leveraging lean principles, kaizen events and continuous ...
Full story available on Benzinga.com

Robinhood, Webull, Interactive Brokers Set To Gain As PDT Rule Dies Today

Erica Kollmann — Thu, 04 Jun 2026 16:06:54 +0000

Thursday marks the first day that the Pattern Day Trader rule no longer applies to accounts under $25,000 — the most significant change to retail trading access in a generation, and a potential windfall for three publicly traded brokerages.

HOOD stock is climbing. See the chart and price action here.

PDT Rule Eliminated

The U.S. Securities and Exchange Commission (SEC) approved FINRA’s elimination of the PDT designation and its $25,000 minimum equity requirement on April 14, with the new intraday risk-based margin framework taking effect Thursday, June 4.

For 25 years, any margin account holder who executed four or more day trades in a rolling five-business-day period was flagged as a pattern day trader and locked out unless they maintained a $25,000 floor. That rule is now gone.

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Robinhood

Robinhood Markets, Inc. (NASDAQ:HOOD) came into the day with more fanfare than any broker.

The company posted a countdown clock on X, and its official account announced: “June 4: The PDT rule will be eliminated, and the $25,000 minimum account balance requirement will officially end. We will be wiping all past PDT flags clean. Soon, customers will be able to trade on Robinhood without worrying about day trading limits again.”

Robinhood followed-up with ...
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Broadcom Stock Just Slid 15% — But The Selloff May Have Fixed A Bigger Problem

Surbhi Jain — Thu, 04 Jun 2026 15:54:57 +0000

Broadcom Inc. (NASDAQ:AVGO) stock plunged roughly 15% after the semiconductor giant reported fiscal second-quarter results that beat Wall Street estimates but failed to deliver the one thing investors were hoping for: a higher AI forecast.

The market’s reaction was swift. But while investors focused on management’s decision to maintain—rather than raise—its long-term AI revenue target, the selloff may have quietly solved a technical problem that had been building in the stock for weeks.

Broadcom: An Overheated AI Trade

Before earnings, Broadcom had become one of the market’s hottest AI names.

Chart created using Benzinga Pro

The stock had surged nearly 38% year-to-date and more than 80% over the past year, riding investor enthusiasm around custom AI chips and the company’s growing role in powering hyperscale data centers. At its recent peak near $480, however, Broadcom was trading more than 20% above its 200-day moving average, which sat near $397.

For momentum traders, that can be a warning sign.

While strong stocks often remain above their long-term trend lines, large-cap technology names that become significantly extended above their 200-day moving averages frequently experience pullbacks, consolidations or periods of cooling before resuming their uptrends.

The earnings-driven ...
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Why Is GameStop Stock Surging On Thursday?

Kaustubh Bagalkote — Thu, 04 Jun 2026 15:49:13 +0000

GameStop Corp. (NYSE:GME) stock is powering higher on Thursday, capitalizing on a wave of momentum following the company’s Tuesday post-market release of its most profitable quarter in company history.

Traders are driving volume higher after the retailer delivered a first-quarter double beat and announced a massive capital return program.

• GameStop shares are climbing with conviction. Why are GME shares rallying?

Record Net Income and Revenue Beat

For the first quarter, GameStop reported revenue of $835.3 million, beating the consensus estimate of $766.64 million. The company posted earnings per share of 30 cents, outperforming the consensus estimate of 16 cents.

Net income reached a record $389.6 million, marking the highest quarterly net income in company history. Operating income totaled $143.3 million.

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Even With A Bachelor's Degree In Finance, A 22-Year-Old's Bad Spending Habits Buried Him In Credit Card Debt. 'I'm Going Through A Midlife Crisis'

Adrian Volenik — Thu, 04 Jun 2026 15:45:47 +0000

A 22-year-old finance graduate thought he had a plan. He had earned a bachelor’s degree in finance, launched a protein business, built a few side income streams and recently landed a full-time remote job. But after years of poor spending decisions, he found himself staring at nearly $13,000 in credit card debt spread across seven cards.

Feeling overwhelmed, he turned to Reddit’s personal finance forum for advice and admitted the stress was taking a toll. “I feel like I’m going through a midlife crisis right now at 22 damn years old,” he wrote.

How The Debt Added Up

The young graduate said the debt didn’t come from one major event. Instead, it built up through a combination of business expenses, impulsive shopping and what he described as an edible addiction that he has since overcome.

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He admitted he worked only part-time throughout much of the previous year because he was focused on trying to build a protein business without enough capital. Looking back, he described the decision as stubborn and unrealistic.

At the time of his post, he had recently started a new media buying job that brought in about $2,250 per month after taxes. Combined with income from YouTube tech review content and Amazon advertising revenue, his total monthly income was around $2,950.

After accounting for rent, utilities, groceries, transportation, subscriptions and minimum credit card payments, he estimated he had roughly $900 left over each month.

Many commenters quickly pointed out that his situation, while stressful, was far from hopeless.

“It sounds like you do know how to pay it off,” one of the most popular replies summed up the community’s view. “It’s just not going to happen as fast as you want.”

The poster acknowledged that criticism was fair.

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A Lesson In Discipline

People in the discussion kept saying that sticking to a budget and staying consistent would help more than looking for a quick fix.

Some people suggested using the debt snowball method, which means paying off the smallest debts first so you can see progress quickly. Others preferred the avalanche method, where you focus on the cards with the highest interest rates first to save more money in the long run.

Many also encouraged him to pick up a second job temporarily to speed up the payoff process.

The poster admitted there was some irony in finding himself in this position despite holding a finance degree.

“You’d think a ...
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SCOR: Results of the cash tender offer on subordinated notes

Globe Newswire — Thu, 04 Jun 2026 15:42:04 +0000

Press release
4 June 2026 - N° 12

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED) OR ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS PRESS RELEASE.

Results of the cash tender offer on subordinated notes

SCOR SE (the "Company") announces the results of the cash tender offer (the "Tender Offer") to purchase its EUR 250,000,000 Fixed to Reset Rate Subordinated Notes due 5 June 2047 (ISIN: FR0012770063), issued on 5 June 2015, with a first call date on 5 June 2027 (the "2047 Notes") and its EUR 500,000,000 Fixed to Reset Rate Subordinated Notes due 27 May 2048 (ISIN: FR0013179314), issued on 27 May 2016, with a first call date on 27 May 2028 (the "2048 Notes" and, together with the 2047 Notes, the "Existing Notes").

The Tender Offer was capped at a ...
Full story available on Benzinga.com

Elon Musk Sets SPCX Price At $135 A Share—And Wall Street Is Eating It Up

Daragh Thomas — Thu, 04 Jun 2026 15:34:05 +0000

Elon Musk’s SpaceX named its IPO price at $135 per share in a filing Wednesday, skipping the usual roadshow negotiation more than a week before next weeks listing.

The rocket maker will sell 555,555,555 shares at that price, raising close to $75 billion at a roughly $1.75 trillion valuation, the Wall Street Journal reported Thursday.

That would dwarf Saudi Aramco’s $29.4 billion 2019 listing, making it the largest IPO in history when trading begins on the Nasdaq on June 12.

Why The Fixed Price Is Unusual

A typical IPO uses the roadshow to discover demand, with bankers floating a price range and refining it over days of investor meetings.

SpaceX skipped the dance because demand was already strong enough that investors would accept what Musk offered, the Journal reported, citing people close to the deal.

The 555,555,555 share count itself looks ...
Full story available on Benzinga.com

Full Transcript: Columbus McKinnon Q4 2026 Earnings Call

Benzinga Insights — Thu, 04 Jun 2026 15:14:15 +0000

Columbus McKinnon (NASDAQ:CMCO) reported fourth-quarter financial results on Thursday. The transcript from the company's fourth-quarter earnings call has been provided below.

This content is powered by Benzinga APIs. For comprehensive financial data and transcripts, visit https://www.benzinga.com/apis/.

The full earnings call is available at https://app.webinar.net/6pX0bz2bOY9

Summary

Columbus McKinnon Corporation reported a strong fiscal 2026 with 20% order growth, 24% net sales growth, and 16% adjusted EBITDA growth, significantly supported by the acquisition of Keto Crosby.

The company's fiscal 2026 strategic initiatives included the acquisition of Keto Crosby and the divestiture of its US power chain hoist and chain operations, with synergy realization expected to unlock substantial long-term value.

Guidance for fiscal 2027 predicts net sales of $2.05 billion to $2.12 billion, adjusted EBITDA of $390 million to $410 million, and adjusted EPS of $1.70 to $1.90, reflecting the full impact of the acquisition and divestiture, with focus on debt reduction.

Operational highlights include a 25% sales growth in linear motion and 8% in automation, driven by demand recovery and operational efficiencies, as well as improvements in short cycle business performance.

Management expressed confidence in achieving targeted $70 million in annualized net cost synergies by year three, with early wins from organizational realignment and third-party spend savings.

Despite challenges in EMEA due to geopolitical tensions, the company remains optimistic about growth, given the strong US demand and a robust quotation pipeline.

Columbus McKinnon's strategy focuses on integrating Keto Crosby, enhancing operational execution, and leveraging global megatrends to drive future growth.

Full Transcript

Christy Moser (Vice President of Investor Relations and Treasurer)

Good morning and welcome to Columbus MacKinnon's fourth quarter and full year fiscal 2026 earnings conference call. My name is Joanna and I will be your conference operator today. As a reminder, this call is being recorded. I would now like to turn the conference over to Christy Moser, Vice President of Investor Relations and Treasurer. Please go ahead. Thank you and welcome everyone to our call. On today's call we will be covering our full year and fourth quarter fiscal 2020 financial and operational results.

As a reminder, our results reflect the completion of the Kito Crosby acquisition closed on February 3, 2026 and the divestiture of Columbus McKinnon Corp's legacy US power chain hoist and chain operations on March 4, 2026. On the call with me today are David Wilson, our President and Chief Executive Officer, and Greg Rustowitz, our Chief Financial Officer. In a moment, David and Greg will walk you through our financial and operating performance for the quarter.

The earnings release and presentation to supplement today's call are available for download on our Investor relations [email protected]">[email protected] before we begin our remarks, please let me remind you that we will have our Safe harbor statement on slide 2. During the course of this call, management may make forward looking statements in regards to our current plans, beliefs and expectations. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties and other factors that can cause actual results and events to differ materially from the results and events contemplated by these forward looking

statements. I'd also like to remind you that management will refer to certain non GAAP financial measures. You can find reconciliations to the most directly comparable GAAP financial measures on the company's investor relations website and in its filings with the Securities and Exchange Commission. Please see our earnings release and our filings with the Securities and Exchange Commission for more information. Today's prepared remarks will be followed by a question and answer session.

We will respectfully ask that you limit yourself to one question and one follow up question. With that, I will turn the call over to David.

David J. Wilson

Thank you Christy and good morning everyone. Fiscal 26 was a defining year for Columbus MacKinnon, one marked by meaningful strategic progress and disciplined execution across our operational, commercial and customer experience priorities. As we move further into the first full year as a combined company with Kito Crosby, we're even more optimistic about the future we are building together. Before I begin, I want to thank our more than 7,000 global team members.

Their dedication and disciplined execution throughout this transformational period enabled us to deliver on several fiscal 26 objectives while advancing two highly strategic transactions through closure in the early stages of integration, including synergy realization initiatives that will unlock substantial long term value for customers and shareholders over time. Throughout the year, we also expanded our two way dialogue with investors around our long term value creation priorities and incorporated insights from those discussions into our governance and strategic decision making.

This increased engagement has made us a stronger organization, more aligned with our shareholder interests. Our performance this year reflects the completion of both the acquisition and the divestiture in the fourth quarter and momentum that is building across the enterprise. In fiscal 26 we delivered 20% order growth, 24% net sales growth and 16% adjusted EBITDA growth year over year, demonstrating the early stage value of our strategy and the hard work of our team.

These results were supported by continued progress in operational excellence, commercial effectiveness and customer experience initiatives that are improving our competitiveness and strengthening our foundation for sustainable growth. Although Kito Crosby contributed only two months of results in the fiscal year, our combination has already begun to meaningfully enhance performance. Removing the divestiture. In both periods our legacy Columbus McKinnon Corp business grew net sales 7% and on a pro forma basis the newly combined company grew 6% for the full year.

We saw strong results across both short cycle and project based business with particular strength in short cycle demand, evidence of effective commercial execution and encouraging market conditions in the Americas. From a platform perspective, Linear motion and automation delivered 25% and 8% sales growth respectively, reflecting both the recovery in demand and improved operational performance in linear motion following the successful transition of production to Monterey as part of our footprint simplification strategy.

Lifting also delivered solid growth supported by the acquisition, favorable foreign exchange and tariff related price increases in EMEA demand remained more challenged given worsening geopolitical conditions and slowing order conversion. Despite what remains a healthy pipeline, this was partially offset by FX tailwinds. As we previously indicated, we delivered 20% order growth in fiscal 26 largely driven by the acquisition. Removing the divestiture Legacy Columbus McKinnon Corp orders grew across both short cycle and project related activity led by strength in automation and lifting.

In the fourth quarter, orders increased 68%, largely driven by the acquisition and complemented by modest growth in legacy Columbus McKinnon Corp orders. Order activity in the quarter was affected by macro pressures in EMEA and temporary sales force distractions in the U.S. related to the divestiture. While the divestiture created some short term headwinds, we believe the realignment has positioned us with the right structure and commercial talent to drive future growth.

Encouragingly, in the first two months of fiscal 27 orders are up mid single digits supported by a strong pipeline and robust quotation activity. While we remain mindful of broader uncertainties, underlying demand signals, particularly in the U.S. are encouraging. We enter fiscal 27 with a strong backlog position totaling 520 million, including approximately 320 million in legacy Columbus McKinnon Corp backlog and an additional 200 million from Kito Crosby.

From a profitability standpoint, the year included several non cash and transaction related items that Greg will detail shortly. Excluding these impacts, adjusted EBITDA increased 16% year over year driven by the acquisition. Adjusted EBITDA margin declined primarily due to tariff related impacts in the first three quarters and the impact of a challenging global macroeconomic and geopolitical environment. Importantly, we see a clear path to margin improvement over the course of the coming year supported by pricing actions, operational execution and synergy realization.

On the integration front, we're off to a strong start. On day one, we implemented a unified organizational structure that brings together the strengths, capabilities and cultures of both companies. Our teams are executing with urgency together, capturing synergies, aligning systems and processes, and building a cohesive operational model that accelerates value creation. The combination of Kito Crosby and Columbus McKinnon is already enhancing our scale, expanding our global reach, strengthening our ability to deliver differentiated solutions for customers, enabling growth and unlocking synergies based on early progress, we remain highly confident

in achieving our targeted 70 million in annualized net cost synergies. In year three, we are seeing early wins from realigning the organization along with third party spend savings including insurance consolidation and contract harmonization. This progress gives us confidence in our ability to deliver and potentially exceed our synergy commitments over time. As we look through fiscal 27, we expect to grow sales and deliver margin expansion supported by strong US Demand, continued operational improvements and the benefits of our integration and portfolio actions.

We also expect to generate healthy cash flow which we will use to pay down debt and reduce leverage. While we remain mindful of factors that are outside of our control, we have significant opportunities within our control, notably related to improving operational performance, executing our integration priorities and realizing synergies that give us confidence in our trajectory. The longer term value creation potential of Columbus McKinnon is also clear.

Global megatrends, including on shoring, scarcity of labor and increased investment in infrastructure, automation and defense are expected to be tailwinds to our growth. In addition, we're entering a period of significant opportunity tied to our business combination with Kito Crosby. The landscape ahead is rich in value creation potential that is within our control. Our combination enhances scale, expands global reach, strengthens our ability to deliver differentiated solutions to customers, enables growth and ...
Full story available on Benzinga.com

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